Virtual Office - Pearl

This Agreement, dated as of DATE is made by and between WFT NV, LLC d.b.a. Lakeside Center, a Nevada Limited Liability Company (herein called "Center") and COMPANY NAME (herein called "Client" and/or “Personal Guarantor”) for the term 12 months.


OFFICE As a Client and Personal Guarantor you have a license to use the office(s) assigned to you. The Client also has shared use common areas in the Center. The Client has access to their office(s) twenty-four (24) hours a day, seven (7) days a week. The Center’s Building provides office cleaning, maintenance services, electric, heating, and air conditioning to the Center during normal business hours as determined by the landlord for the Building. The Center reserves the right to relocate Client to another office in the Center. The Center reserves the right to show the offices(s) to prospective Clients and will use reasonable efforts not to disrupt Client’s business.
In addition to an office, Center provides Client with certain services on an as requested basis. The fee schedule for these services is available upon request and may be updated from time to time. The fees are charged to Client’s account and are payable on the monthly billing date. Client agrees to pay all charges authorized by their employees.


The Center and vendors designated by Center are the only service providers authorized to provide services in the Center. Client agrees that neither Client nor their employees will solicit other Clients of the Center to provide any service provided by Center’s affiliates or its designated vendors, or otherwise. In the event Client defaults on their obligations under this agreement, Client agrees that Center may cease to provide any and all services including telephone services without resort to legal process.



Client and Personal Guarantor agree to pay the fixed and additional service fees and all applicable sales or use taxes by the payment due date, which is on the 1st of every month. Client and Personal Guarantor will be charged a late fee equivalent to 5% of the balance due if payment is not received by the 5thof every month. If Client disputes any portion of the charges on their bill, Client agrees to pay the undisputed portion on the designated payment date. Client and Personal Guarantor agree that charges must be disputed within ninety (90) days or Client waives their right to dispute such charges. Undisputed and unpaid charges with be automatically debited from Client credit card on file on the 15th day of the month in which unpaid service payment is due.


When Client and Personal Guarantor sign this agreement, they are required to pay their fixed fees, set up fees and a security retainer. The security retainer will not be kept in a separate account from other funds of Center and no interest will be paid to Client on this amount. The security retainer may be applied to outstanding charges at any time at Center’s discretion. Center has the right to require that Client replace retainer funds that Center applies to their charges.  At the end of the term of this agreement, retainer fees may be applied to the cost of repair to your unit. If Client has satisfied all their payment obligations, and unit is returned in rentable condition, Center will refund Client this retainer within sixty (60) days. All agreements are subject to a minimum 5% fee increase at the start of each renewal.


OUR LIMITATION OF Client acknowledges that due to the imperfect nature of verbal, written and electronic communications, neither Center nor Center’s affiliates, landlord or any of their respective officers, directors, employees, partners, agents or representatives shall be responsible for damages, direct or consequential, that may result from the failure of Center to furnish any service, including but not limited to the service of conveying messages, communications and other utility or services. Client’s sole remedy and Center’s sole obligation for any failure to render any service, any error or omission, or any delay or interruption of any service, is limited to an adjustment to Client’s bill in an amount equal to the charge for such service for the period during which the failure, delay or interruption continues.



WITH THE SOLE EXCEPTION OF THE REMEDY DESCRIBED ABOVE, CLIENT EXPRESSLY AND SPECIFICALLY AGREES TO WAIVE, AND AGREES NOT TO MAKE, ANY CLAIM FOR DAMAGES, DIRECT OR CONSEQUENTIAL, INCLUDING WITH RESPECT TO LOST BUSINESS OR PROFITS, ARISING OUT OF ANY FAILURE TO FURNISH ANY SERVICE, ANY ERROR OR OMISSION WITH RESPECT THERETO, OR ANY DELAY OR INTERRUPTION OF SERVICES. CENTER DISCLAIMS ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.


LICENSE THIS AGREEMENT IS NOT A LEASE OR ANY OTHER INTEREST IN REAL PROPERTY.  IT IS  A CONTRACTUAL  ARRANGEMENT
THAT CREATES A REVOCABLE LICENSE.



Center retains legal possession and control of the Center and the office assigned to Client. Center’s obligation to provide Client space and services is subject to the terms of Center’s lease with the Building. This agreement terminates simultaneously with the termination of Center’s master lease or the termination of the operation of Center for any reason. As Center’s Client, Client does not have any rights under Center’s lease with Center’s landlord. When this agreement is terminated because the term has expired or otherwise, Client’s license to occupy the Center is revoked.  Client agrees to remove their personal property and leave the office as of the date of termination. Center is not responsible for property left in the office after termination.


DAMAGES AND Client is responsible for any damage Client cause to the Center or Client’s office(s). The security retainer may be applied to repair any such damages at any time at Center’s discretion. Center has the right to require that Client replace retainer funds that Center applies to such damages. Center has the right to inspect the condition of the office from time to time and make any necessary repairs. Client is responsible for insuring their personal property against all risks. Client has the risk of loss with respect to any of their personal property. Client agrees to waive any right of recovery against Center, its directors, officers and employees for any damage or loss to Client’s property under their control. All property in Client’s office(s) is understood to be under Client’s control.


PERSONAL GUARANTY. In the event of default, personal guarantor agrees to pay all reasonable attorney fees and costs of Each maker, surety, guarantor or endorser of this note waives presentation of payment, notice of non-payment, protest and notice of protest and agrees to all extensions, renewals, release, discharge or exchange of any other party or collateral without notice.


Client is in default under this agreement if; 1) Client fails to abide by the rules and regulations of the Center, a copy which has been provided to Client; 2) Client does not pay their fees on the designated payment date and after written notice of this failure to pay Client does not pay within five (5) days; and 3) Client does not comply with the terms of this agreement. If the default is unrelated to payment Client will be given written notice of the default and Client will have ten (10) days to correct the default. Should Client continue in default after notice, Center may, without any additional notice or demand to Client, forthwith terminate this Agreement and the license to use any portion of the Center.


Upon the expiration of the initial term, or any extension thereof, the term of this agreement herein granted shall extend to a month to month until a renewed agreement is signed for the initial term, upon the same terms and conditions as contained herein, unless either party gives notice to the other in writing to the contrary at least thirty (30) days prior to the end of the term, (90) days if Client has licensed the use of three or more offices.


Client has the right to terminate this agreement early; 1) if their mail or telecommunications service or access to the office(s) is cut for a period of ten (10) concurrent business days. Center has the right to terminate this agreement early; 1) if Client fails to correct a default or the default cannot be corrected; 2) without opportunity to cure if Client repeatedly default under the agreement; or 3) if Client uses the Center for any illegal operations or purposes.


RESTRICTION ON Center’s employees are an essential part of Center’s ability to deliver the services. Client acknowledges this and agrees that, during the term of Client’s agreement and for six (6) months afterward, Client will not hire any of Center’s employees. If Client does hire Center’s employees, Client agrees that actual damages would be difficult to determine and therefore Client agrees to pay liquidated damages in the amount of one-half of the annual base salary of the employee Client hires. Client agrees that this liquidated damage amount is fair and reasonable.
All notices are to be in writing and may be given by registered or certified mail, postage prepaid, overnight mail service or hand delivered with proof of delivery, addressed to Center or Client at the address listed.


Client acknowledges that, where appropriate, Center will comply with the Postal Service regulations regarding Client’s mail. Upon termination of this agreement, Client must notify all parties with whom Client does business of their change of address. Client agrees to file a change of address form with the postal service. Filing a change of address form may forward all mail addressed to the Center to Client new address. In addition, all telephone and facsimile numbers and IP addresses are the property of the Center. These numbers will not be transferred to Client at the end of the term. For a period of thirty (30)  days after the expiration of this agreement, Center  will provide Client’s new telephone number  and address to all incoming callers and will hold or forward Client’s mail, packages, and facsimiles at no cost to Client. After thirty (30) days Client may request the continuation of this service at their cost. Corporate Identity Clients must pay for the additional five (5) months of mail forwarding, if required by the Postal Service regulations.


In the event a dispute arises under this agreement Client agrees to submit the dispute to mediation. If mediation does not resolve the dispute, Client agrees that the matter will be submitted to arbitration. The decision of the arbitrator will be binding on the parties. The non-prevailing party as determined by the arbitrator shall pay the prevailing party’s attorney’s fees and costs of the arbitration. Furthermore, if a court decision prevents or Center elects not to submit this matter to arbitration, then the non-prevailing party as determined by the court shall pay the prevailing party’s reasonable attorney’s fees and costs. Nothing in this paragraph will prohibit Center from seeking equitable  relief including without limitation any action for removal of the Client from the Center after the license has been terminated or revoked.


A. This agreement is governed by the laws of the country or state in which the Center is located.



B. Client may not assign this agreement without Center’s prior written consent, which will not be unreasonably withheld.



C. This agreement is the entire agreement between Client and It supersedes all prior agreements.