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<br />200706805 <br /> <br />completion of the renovation of the existing building located <br /> <br />on the Real Estate, Thelen and Company shall operate the <br /> <br />storage business under the terms as hereinafter set forth. <br /> <br />5. The business so operated shall be known as <br /> <br />"Landell-Thelen Storage." <br /> <br />6. All administration and operation of the new storage <br /> <br />facility shall be the responsibility and duty of Company, <br /> <br />including but not limited to: <br /> <br />A. Rental of all storage units and the issuance <br />and retention of all keys and entry devises <br />related thereto; <br />B. Negotiation for and collection of all rents, <br />under such terms and upon such rental as may <br />be determined from time to time by Company in <br />its sole and absolute discretion; <br />C. Possession of and the maintaining of the books <br />and records of the business including the <br />recording of accurate and complete receipts <br />and disbursements of the business and the <br />allocation of all expenses as hereinafter set <br />forth. <br /> <br />7. All utilities necessary to operate the new storage <br /> <br />facility shall be allocated to and paid ten percent (10%) by <br /> <br />Thelen and ninety percent (90%) by Company. <br /> <br />8. All real estate taxes on the Real Estate from and <br /> <br />after completion of the construction of the new storage <br /> <br />facility shall be allocated to and paid ten percent (10%) by <br /> <br />Thelen and ninety percent (90%) by Company. <br /> <br />9. All maintenance and repairs associated with or <br /> <br />relating to the new storage facility shall be paid by <br /> <br />Company. <br />