Jan Steinman and Carol Wagner (Tenant) lease the property at 160 Sharp Road, BC V8K 2P6, Canada (Property) from EcoReality Co-op (Landlord), for the sum of $1 per month, effective 1 May 2007.
Tenant's rights and responsibilities include, but are not limited to:
- financial obligations placed upon that Property, such as utility bills and property taxes
- gross income from all activities on that Property, such as cottage rent, voluntary donations for lodging and meals, farming, arts & craft, education, and other economic activities.
Landlord's rights and responsibilities include:
- indemnifying Tenant of legal obligations as a result of Tenants' activities on that Property,
- insurance coverage adequate to protect Landlord's interest in the Property.
General property management and economic activity on the Property are subject to approval of EcoReality Co-op, such approval not arbitrarily withheld.
Should the net profit from economic activities on that Property exceed fifteen times the hours worked on those activities by Tenant ($15/hour), Tenant will pay Landlord one-half (50%) of that excess.
This agreement is in force for three years or 30 days notice of either party, whichever comes first.
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