This is to inform you that I, Will Richard, have successfully given you the permission to operate your business from 23A Shop for your own purpose and I am entitled to a rent of $2500 on a monthly basis. You are responsible and legally binding to pay any expenses incurred during the operation of your business from the said property during the agreement period of 2 years beginning from April 2011 to March 2013.
There will be extra charges levied to you as per the value of assets/property being damaged by any means during business years. The dispute hereof is going to be settled under New Jersey County Court. If you avoid paying the rent during the specified period of time mentioned in the agreement, you are going to pay the penalty of 20% on original rent of that particular month along with principal rent following next/immediate month without any fail. I assume your understanding on this.
(Owner, 23A Shop, Cleopatra Arcade, New Jersey 04586)