Item
1.01 Entry into a Material Definitive Agreement.
Capitol
City Solutions USA, Inc. – Lease Agreement for Corporate Offices
On
January 3, 2020, Capitol City Solutions USA, Inc. (“CCS”), a wholly-owned subsidiary of American International Holdings
Corp (“AMIH” or the “Company”) entered into a Lease Agreement with Asher Park, LLC (the “Landlord”)
to lease and occupy approximately 1,516 square feet of commercial office space located in Tyler, Texas to be used for CCS’s
corporate offices and headquarters.
Lease
Term – The Lease Agreement has a term of 60 months ((5) years) and 29 days, and commences on January 3, 2020 and
ends on January 31, 2025. The property is move in ready and the Lease Agreement does not provide for any tenant improvement allowances.
Base,
Additional and Percentage Rent Expense – The annual base rent is $27,288, or $18 per square foot, for the term of
the Lease Agreement. In addition to the base rent, CCS is required to reimburse the landlord for its pro-rata share of all real
estate taxes and assessments, hazard and liability insurance and common area maintenance costs for the entire shopping center.
At execution of the Lease Agreement, such additional rent was estimated at $6.00 per square foot per year.
Security
Deposits – Upon the execution of the Lease Agreement, CCS agreed to pay a security deposit equal to the full first
month’s base rent plus estimated additional rent charges in the amount of $3,032.
Utilities
and Maintenance – CCS is responsible for all utility charges as well as all maintenance of the leased premises including,
but not limited to, the mechanical, electrical and plumbing systems. The Landlord is responsible for maintenance of the roof,
exterior walls and structural integrity of the building, which comprises the leased premises, and the common areas of the Shopping
Center including, but not limited to, the parking areas.
Novopelle
Tyler, Inc. Lease Agreement for Novopelle MedSpa
On
January 6, 2020, Novopelle Tyler, Inc. (“Novopelle Tyler”), a wholly-owned subsidiary of American International Holdings
Corp (“AMIH” or the “Company”) entered into a Lease Agreement with Asher Park, LLC (the “Landlord”)
to lease and occupy approximately 1,900 square feet of commercial retail space located in Tyler, Texas to operate a planned new
Novopelle Med Spa location (the “Lease Agreement”).
Lease
Term - The Lease Agreement has a term of 60 months (or five (5) years), and commences 120 days from the later of
the fully executed Lease Agreement, delivery of premises, and delivery of a construction permit from the City of Tyler.
Base,
Additional and Percentage Rent Expense - The annual base rent is $34,200, or $18 per square foot, for the first
36 months and then increases to an annual base rent of $36,100, or $19 per square foot, for the remaining 24 months (the “Base
Rent”). In addition to the Base Rent, Novopelle Tyler is required to reimburse the landlord for its pro-rata share of all
real estate taxes and assessments, hazard and liability insurance and common area maintenance costs for the entire shopping center
(the “Additional Rent” or “Triple Net”). At execution of the Lease Agreement, the Additional Rent was
estimated at $6.00 per square foot per year.
Security
Deposits – Upon the execution of the Lease Agreement, Novopelle Tyler agreed to pay a security deposit equal
to the full first month’s Base Rent plus Triple Net charges in the amount of $3,800.
Tenant
Improvement Allowance – The Landlord has agreed to provide Novopelle Tyler with a Tenant Improvement Allowance
of up to $70.00 per square foot, or $133,000, towards improvements to the leased premises that are affixed and permanent in nature.
The Tenant Improvement Allowance will be paid by Landlord to Novopelle Tyler upon the completion of construction work performed
and satisfactory inspection of such, Landlord’s receipt of contractor’s signed lien releases, and Novopelle Tyler’s
official opening for business.
Utilities
and Maintenance – Novopelle Tyler is responsible for all utility charges as well as all maintenance of the leased
premises including, but not limited to, the mechanical, electrical and plumbing systems. The Landlord is responsible for maintenance
of the roof, exterior walls and structural integrity of the building, which comprises the leased premises, and the common areas
of the Shopping Center including, but not limited to, the parking areas.