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occupancy agreement - 2025-03-19 - 85-104 alawa pl, waianae, hi 96792.pdf

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The 85-104 Alawa Pl Trust, No. 2503180214, Dated 3/18/2025 OCCUPANCY AGREEMENT This Occupancy Agreement is dated 3/19/2025 for reference purposes only and is between Equity Holding Corp . as Trustee of The 85-104 Alawa Pl Trust Dated 3/18/2025, No.2503180214 ("Landlord"), and Poodle LFTY0452 DAO LLC ("Possessor"). 2. Landlord agrees to lease to Possessor Lessee the premises commonly known as 85-104 Alawa Place , Waianae, Hawaii 96792 ("Premises"). 3. Subject to Paragraph #5 below, Possessor hereby contracts to pay the sum of $3,336.59 per month as it may from time to time be adjusted, which rental payment and obligation may include, but may not be limited to, the following: a. The Mortgage principal and interest, as may from time to time be adjusted, on any loan secured by Premises. b. Premiums for all necessary insurance on Premises, as may from time-to-time be adjusted. c. Property taxes for Premises, as may from time-to-time be adjusted. d. Association fees (if/when applicable), as may from time-to-time be adjusted. 4. All repairs and maintenance relative to the leased premises are to remain fully the responsibility of Possessor hereunder. 5. A Security Deposit of $ 0.00 is due upon inception by the Possessor. In the absence of a full Security Deposit, rent and any other payments due shall be made in advance to Landlord's agent, Equity Management Service LLC, on or before the 15th day of the month preceding the date of the month in which such payments are ordinarily due to the creditors of the Trust that holds the subject leased property. Should a Security Deposit in the minimum amount of one full monthly obligation have been placed on deposit with, and maintained by Landlord’s agent, then the payment be considered due and payable on or before the first day of the month in which such payments are due to the creditors. Rent is payable by check, by mail, at the following address: P.O. Box 401624, Las Vegas, Nevada 89140 6. If at any time any increases or decreases occur in element of the rental obligations set forth above, the total monthly rental shall increase or decrease by the same amount, and the contingency fund will be adjusted accordingly. 7. Possessor agrees to pay to Landlord a late charge of $ 25.00, if the rent is not received within 10 calendar days of its contractual due date. This late charge does not establish a grace period. Landlord may make written demand for payment if rent is not paid on its due date. Landlord and Possessor agree that the charge is presumed to be the damages sustained because of Possessor's late payment of rent, and that it is impracticable or extremely difficult to fix actual damages. 8. Possessor agrees to pay a service charge of $ 35.00 if Possessor's bank returns a rent check for insufficient funds (NSF). If the bank returns Possessor's rent checks more than once, Landlord may serve written notice that all future rent be paid in cash or by certified check or money order. 9. The term of this Occupancy Agreement will commence on 3/19/2025, and continue for no more than two years, eleven months and twenty-nine days therefrom unless terminated earlier by the sale or other disposition of the subject leased property by Landlord. Should Possessor hold over after expiration of the term, and Landlord be directed to accept, and does so accept, rent from Possessor in the monthly amount specified in Paragraph #2 above, possession of the property shall then continue on a monthto-month basis until evicted by Landlord, unless Landlord has been duly instructed to renew or extend this Agreement. 10. Premises will be possessed by the following named persons, each of whom has executed this 1. Trust Setup Instructions Page 1 © Copyrighted Material. Do Not Reproduce for Any Reason. All Rights Reserved. The 85-104 Alawa Pl Trust, No. 2503180214, Dated 3/18/2025 Occupancy Agreement: Poodle LFTY0452 DAO LLC and/or assigns. 11. This agreement is between Landlord and each named Possessor, individually and severally. The named Possessor(s) are jointly and severally responsible for performance of their obligations under this Occupancy Agreement, including the payment of rent. 12. Possessor agrees to indemnify Landlord for any liability arising before termination of this Occupancy Agreement for personal injuries or property damage caused by the negligent, willful, or intentional conduct of Possessor, and Possessor's assigns, guests or invites. 13. If Landlord's agent applies all or any portion of Possessor's security deposit during the term of this Occupancy Agreement to cure a default, or to make necessary repairs to Premises, Landlord's agent may demand that Possessor replenish the full amount so applied. Possessor's failure to replenish such amount within five days after written demand will constitute a material breach of this Occupancy Agreement. The written demand for replenishment will include an itemized statement describing the disposition of the security. 14. Possessor shall be responsible for paying all real property taxes and assessments, whether general or specific, which are, or may later be, levied against Premises. 15. Possessor agrees that Premises, fixtures, appliances, and furnishings are in satisfactory condition. 16. Possessor shall, at Possessor's or assign's expense maintain full insurance coverage on the leased property, including replacement value coverage, insuring Landlord in an amount not less than $656,899.13. Possessor shall deliver to Landlord certificates evidencing the existence of such insurance. No policy may be canceled without the prior written consent of Landlord. Possessor or assigns shall acquire personal contents insurance coverage solely at their option. 17. Possessor may not assign Possessor's interest under this Occupancy Agreement in the absence of a formal Assignment Agreement coupled by an Occupancy Agreement to be executed by the assignee. 18. Premises are to be utilized for residential purposes only, and may not be used by Possessor for any other purpose, unless specific permission is granted in writing by landlord. 19. Possessor or assigns shall be responsible for payment of all utilities and service charges related to possession of the premises. 20. Possessor and assigns agree to perform the following obligations: a. To keep Premises as clean and sanitary as their condition permits; b. To dispose of all rubbish, garbage, and other waste in a clean and sanitary manner; c. To use and operate properly all electrical, gas, and plumbing fixtures and pipes, and to keep them as clean and sanitary as their condition permits; d. To refrain from willfully or wantonly destroying, defacing, damaging, impairing, or removing any part of Premises or the facilities, equipment, or appurtenances, or permitting any person on Premises to commit such acts; e. To occupy Premises as Possessor's abode, using designated portions of Premises for living, sleeping, cooking, and dining purposes; and f. To comply with any Covenants, Conditions and Restrictions regarding Premises. 21. Neither Possessor nor assigns may use Premises for any unlawful purpose, violate any law or ordinance, or commit waste or nuisance on Premises.Repairs and maintenance expenditures are fully the responsibility of Possessor and assigns: though no amount of such expenditure shall be refundable or credited to Possessor, unless such work is done at the written direction of Landlord, following Possessor's notification of the necessity of such work and request for credit for expenses relative thereto. Such notification and request for credit must be by certified mail and delivered to Landlord in care of the property management company at the address shown herein, and must be accompanied Trust Setup Instructions Page 2 © Copyrighted Material. Do Not Reproduce for Any Reason. All Rights Reserved. The 85-104 Alawa Pl Trust, No. 2503180214, Dated 3/18/2025 by pertinent bona fide bids, quotes or estimates. 22. On not less than 24 hours advance notice, Possessor or assigns must make Premises available, at a time acceptable to Possessor during normal business hours, for entry by an agent of Landlord for the purpose of periodic inspections. In case of emergency, upon Possessor's abandonment or surrender of Premises, or with a court order, Landlord's agent may enter Premises at any time without securing Possessor's or the assign's prior permission. 23. The parties consider each and every term, covenant, and provision of this Occupancy Agreement to be material, reasonable and legally binding. 24. For any breach of any covenant or condition of this Occupancy Agreement Landlord may, at its option, serve a three-day notice, or other local notice requirement, (1) specifying the nature of the breach and (2) demanding that Possessor cure the breach if it can be cured. The notice may further declare that, if Possessor fails to cure a curable breach within the three-day period or if the breach is not curable, the tenancy is terminated and Possessor forfeits all rights under this Occupancy Agreement. The question of whether breach of a covenant or condition is curable will be determined by the prevailing law in the State of Hawaii as of the time of service of a three-day notice specifying that Possessor's alleged breach is a non-curable breach. 25. If Possessor willfully and maliciously remains in possession of Premises after expiration of the tenancy, Landlord may recover three times the amount of any damages and rent due, as punitive damages. 26. After Possessor or assigns vacates Premises, either by expiration of the term or on termination of the tenancy, Landlord must give the notices required by law concerning disposition of any personal property of Possessor that remains on Premises. Possessor is responsible for all reasonable costs of storing such personal property. The property will be released to Possessor or its rightful owner only after Possessor or the rightful owner pays to Landlord the reasonable costs of storage within the time required by law. 27. If Landlord is unable to deliver possession of Premises to Possessor at the commencement of the term specified in this Occupancy Agreement, Landlord will not be liable for any damage caused thereby, nor will this Occupancy Agreement be void or voidable. Landlord will take reasonable steps to obtain possession of Premises from previous Possessors or occupants. Possessor will not be liable for any rent, however, until the date that possession is actually delivered. Possessor may terminate this Occupancy Agreement if Landlord fails to deliver possession of Premises within sixty (60) calendar days after commencement of the specified term. 28. In any legal action brought by either party to enforce the terms of this Occupancy Agreement, the prevailing party shall be entitled to all costs incurred in connection with such an action, including reasonable attorneys' fees. 29. Waiver by either party of a breach of any covenant of this Occupancy Agreement will not be construed to be a continuing waiver of any subsequent breach. Landlord's receipt of rent with knowledge of Possessor's or assign's violation of a covenant does not waive Landlord's right to enforce any covenant of this Occupancy Agreement. No waiver by either party of any provision of this Occupancy Agreement will be accepted, unless expressed in writing, constructively delivered and signed by all parties. 30. Time is of the essence for each provision of this Occupancy Agreement. 31. This Occupancy Agreement contains the full agreement of parties relative to the leasehold in subject property and cannot be amended or modified except by written agreement. 32. For the purpose of service of process and service of notices and demands, Possessor's address is: 500 Trust Setup Instructions Page 3 © Copyrighted Material. Do Not Reproduce for Any Reason. All Rights Reserved. The 85-104 Alawa Pl Trust, No. 2503180214, Dated 3/18/2025 Westover Dr. #33191, Sanford, North Car