LEASE AGREEMENT


 

LEASE AGREEMENT

 

THIS LEASE is made and entered into this by and between Fayette Executive Center (Hereinafter referred to as “Lessor”) and (hereinafter referred to as “Lessee”).

                                                                                                                           

WITNESSETH:

That, for and in consideration of the mutual covenants and agreements hereinafter set forth, the parties hereto do hereby mutually agree as follows:

 

  1. DEMISED PREMISES. Lessor hereby leases to Lessee and Lessee does hereby lease from Lessor, for the term and upon the conditions hereinafter provided, a virtual office, including the following: . The first . hours of conference room/day office time is included in set monthly lease price, and set pricing for any additional hours listed on the most current price sheet, subject to change with notification at Fayette Executive Center (hereinafter referred to as the “Building”) situated at 110 Habersham Drive, Suite , Fayetteville, GA 30214, (such space hereinafter referred to as “demised premises”).

 

  1. TERM. This Lease is set for the term of month(s), commencing on . and ending at midnight on . At least sixty (60) days prior to the expiration of the term of this lease, Lessee shall notify Lessor of its intention to renew or vacate the premises at the expiration of this lease. Lessee shall pay a rental of , in equal monthly installments, in advance, of   on the first (1st) day of each and every calendar month during the term hereof without further notice from Lessor. If the term of this Lease begins other than the first day of a month, rent from such date until the first day of the following month shall be pro-rated at the rate of one-thirtieth (1/30) of the fixed monthly rental for each day payable in advance.

The Lessee shall pay said rent to Lessor at the office of Lessor, 110 Habersham Drive, Suite 113, Fayetteville, GA 30214 or to such other address as Lessor may designate from time to time by written notice to Lessee, without demand and without deduction, set-off or counterclaim. Time is of the essence with respect to Lessee’s obligation to pay rent as herein set out. It is a condition of this lease that the right to occupy the demised premises by the Lessee shall depend upon the prompt and punctual payment of each installment of rental. Should any rental installment not be paid promptly as required by the terms of this agreement, and, if such installment remains unpaid and delinquent beyond the fifth (5th) day of the month upon which it is due and owing, then there shall be imposed a late charge as additional rent equal to ten percent (10%) of the amount of said delinquent rental installment. Any additional rental amount so imposed shall be due and payable with the delinquent installment which occasioned its imposition. If Lessor shall at any time or times accept rent after it shall become due and payable, such acceptance shall not excuse delay upon subsequent occasions, or constitute, or be construed as a waiver of any or all of the Lessor’s rights hereunder.

If Lessee shall fail to pay any installment of rental or any other monies due under this agreement by the tenth (10th) day of the month following as same becomes due and payable, or if Lessee shall violate any other covenant, condition, or restriction of this lease, Lessor shall have the right, without further notice, and upon failure of Lessee to cure such fault or violation, at Lessor’s option, to terminate this lease.

 

  1. SECURITY DEPOSIT. Simultaneously with the execution of this Lease, Lessee shall deposit with Lessor the sum of as a security deposit (which shall not bear interest to the Lessee) (which shall be considered as security for the payment and performance by Lessee of all of Lessee’s obligations, convenience, conditions and agreements under this Lease). Upon the expiration of the term hereof, Lessor shall (provided that Lessee is not in default under the terms hereof) return and pay back such security deposit to Lessee, less such portion thereof as Lessor shall have appropriated to make good any default by Lessee with respect to any of Lessee’s aforesaid obligations, convenience, conditions or agreements contained herein. In the event of any default by Lessee hereunder, Lessor shall have the right, but shall not be obligated, to apply all or any portion of the security deposit to cure such default in which event Lessee shall be obligated to deposit promptly with Lessor the amount necessary to restore the security deposit to it’s original amount. In no event shall said security deposit or any portion thereof, be applied in satisfaction or payment of any installment of rent, or any portion, thereof, which shall become due and owing under the provisions of Paragraph 3 above.

 

  1. NO ESTATE IN LAND/NO PARTNERSHIP. Nothing contained in this Lease shall be deemed or construed to create a partnership or joint venture of or between Lessor and Lessee, or to create any other relationship between the parties hereto other than that of Lessor and Lessee.

 

 

  1. NO REPRESENTATIONS BY LESSOR. Neither Lessor nor any agent or employee of Lessor has made any representations or promises with respect to the demised premises or the Building except as herein expressly set forth, and no rights, privileges, easements or licenses are acquired by Lessee except as herein expressly set forth. The Lessee, by taking possession of the demised premises expressly consents that the demised premises are in good and satisfactory condition at the time of such possession.

 

  1. USE OF DEMISED PREMISES. Lessee will use and occupy the demised premises solely for general office purposes and in accordance with the use permitted under the applicable zoning regulations. Without the prior written consent of the Lessor, the demised premises will not be used for any other purpose. Lessee will not use or occupy the demised premises for any unlawful purpose and will comply with all present and future laws, ordinances, regulations, and orders of all governmental units having jurisdiction over the demised premises. The Lessee agrees that said premises shall be used for general office space and for no other purpose and shall be used in a careful, safe and proper manner and specifically causing no activity of any nature which shall interfere with the activities of other tenants in any manner whatsoever. Nuisances include, but are not limited to, loud music, animals or pets, excessive visitors in halls or office, or noxious odor. The exit doors are locked after 5:00 p.m. Lessee agrees that they will not leave the main front and exit doors will not be set in the open position after that time.

 

  1. ALTERATIONS/FIXTURES. Lessee will not make or permit anyone to make any alterations, decoration, additions, or improvements. If any such alteration, decoration, addition, or improvement is made without the prior written consent of Lessor, Lessor may correct or remove the same. Lessee shall be liable for any and such expenses incurred by Lessor in the performance of this work. All alterations, decorations, additions, or improvements in or to the demised premises or to the Building made by either party to this Agreement shall immediately become the property of Lessor. The demised premises shall be surrendered without disturbance, molestation, or injury by Lessee to Lessor at the end of the term hereof. Prior to the expiration or termination of the term of this Lease all trade fixtures placed or installed in the demised premises at the expense of the Lessee may be removed by the Lessee. Property is to be in the same condition, ordinary wear and tear accepted. If such trade fixtures are not removed prior to the expiration or termination of the term of this Lease, then they shall be conclusively regarded as abandoned to the use of the Lessor and shall become the latter’s property.

 

  1. SIGNS/ADVERTISEMENTS. No sign, advertisement, or notice shall be inscribed, painted, affixed, or displayed on any part of the outside or inside of the Building except as provided by Fayette Executive Center, Inc. on the directory and the doors of the offices. If any such sign, advertisement, or notice is exhibited, Lessor, shall have the right to remove the same and Lessee shall be liable for any and all expenses incurred by Lessor in the course of said removal. In consideration of Lessee’s right to require Lessor to finish the demised premises and in respect of Lessor’s obvious economic interest in maintaining the Building as desirable, high- quality office building, Lessee specifically agrees to the restrictions herein above contained and covenants to use its best efforts to insure that such are strictly observed.

 

  1. LESSEE’S FURNISHINGS/EQUIPMENT. No furniture, equipment or other bulky matter of any description will be received into, or moved out of, the Building at any time or in any manner except as expressly approved by Lessor. Lessee expressly covenants that all moving of furniture, equipment, or other materials shall be under the direct control and supervision of either experienced professional movers or competent employees of Lessee who shall be specifically charged by Lessee with responsibility for any damage resulting from or associated with the moving of same. Lessee agrees to indemnify and hold Lessor harmless from and against any claim or claims for damages associated with such activities. Lessee shall not install equipment or fixtures in the demised premises which exceeds the building design “live load” of 50 pounds per square foot. Lessee shall give to Lessor, in writing, notice of the installation, or intent to install, any heavy equipment or fixtures, together with pertinent specifications and information relating to their weight and dimensions, and if required by Lessor, Lessee shall furnish a written statement by a structural engineer, licensed in the state of Georgia, that said equipment and/or fixtures of the Lessee do not exceed the design “live load” of the Building. Any damage to demised premises or to the Building of which they are a part, due to, or arising from, failure of Lessee to comply with the requirements of this paragraph shall be repaired by, and at the sole cost of the Lessee.

Lessee will not install or operate in the demised premises any electrically operated equipment, other than that customarily employed in general office operations (personal

Initial computers, FAX machines, copiers, electric typewriters, adding machines, radios, television, and clocks) without first obtaining the prior written consent of Lessor, who may condition consent upon the payment of Lessee of additional rent in compensation for such excess consumption of utilities and for the cost of additional wiring as may be occasioned by the installation and/or operation of such equipment or machinery. Lessee shall not install any equipment of any kind or nature whatsoever which will or may necessitate any changes, replacements, or additions to, or in the use of the water system, heating system, plumbing system, air conditioning system, electrical system, or security system, including locks and bolts, of the demised premises of the Building without first obtaining the prior written consent of Lessor. Business machines and/or mechanical equipment belonging to Lessee which cause noise or vibration that may be transmitted to the structure of the Building or to any space thereunto such a degree as to be objectionable to Lessor or to any Lessee in the Building shall be installed and maintained by Lessee, at Lessee’s expense, on vibration eliminators or other devices sufficient to eliminate such noise or vibration.

 

  1. ASSIGNMENT AND SUBLETTING. Lessee will not assign, transfer, mortgage, or encumber this Lease or sublet or rent (or permit occupancy or use of) the demised premises, or any part thereof.

 

  1. INSOLVENCY OR BANKRUPTCY OF LESSEE. Lessee and Lessor agree and hereby and herewith acknowledge that the terms and conditions of this Lease Agreement taken together in their entirety, impose an obligation on each party hereto that the other’s expectation of receiving due performance shall not be impaired. Lessor, by the terms of this agreement, has surrendered to Lessee the possession and control of the demised premises, and further, has covenanted to supply certain services and utilities hereto. In consideration of such undertakings by Lessor, Lessee has agreed to pay the rent stipulated in Paragraph 3 of this Agreement. In the event Lessee makes an assignment for the benefit of creditors, or a receiver of proceeding against the Lessee (and is not dismissed within sixty (60) days after date of filing), or Lessee is adjudicated a bankrupt, it is agreed between the parties hereto that the happening if any such events shall constitute conclusive and sufficient grounds for Lessor’s expectation of Lessee’s defaulting in the obligation to pay rent herein above described. In such event, Lessor shall have the right, upon written notice of Lessee, to terminate this Lease Agreement and to recover immediate possession of the demised premises, and further to recover such damages from Lessee as may be authorized elsewhere by the terms of this Agreement; provided, however, that should the Lessor elect to exercise the right to terminate granted, Lessor shall have no claim against Lessee for any rent which might otherwise be claimed as due and owing for the remaining balance Lease term.

 

  1. DAMAGE TO THE DEMISED PREMISES. If the demised premises shall be partially damaged by fire or other cause without the fault or neglect of Lessee, Lessor shall diligently and as soon as practicable after such damages occurs (taking into account the time necessary to effectuate a satisfactory settlement with any insurance company) repair such damage at the expense of the Lessor, and the rent shall be pro-rated to the extent that the demised premises are rendered untenantable until such repairs are completed, provided, however, that if the Building is damaged by fire and other cause to such extent that said damage cannot be fully repaired within one-hundred twenty (120) days from the date of such damage, either Lessee or Lessor shall have the option of terminating this Lease by giving notice to the other of such decision and the term of this Lease shall terminate on the day such notice is given. “Without obligation to each party", except such obligation as may have accrued to either party prior to such termination. Lessor shall not be responsible for damage to Lessee’s furniture, fixtures, or equipment as a result of fire, wind, rain, explosion, earthquake, or other similar cause beyond the control of Lessor.

 

  1. CONDEMNATION. Notwithstanding the use of the term “Lease” herein, the parties hereto intend this agreement shall establish the relationship of Lessor and Lessee only and that no “estate in land” shall pass from one to another. Lessee shall have only usufruct, not subject to levy and sale and not assignable or otherwise alienable except as provided herein. Accordingly, if the whole or substantial part of the demised premises shall be taken or condemned by any governmental authority for any such public or quasi-public use or purpose, then the term of the Lease shall cease and terminate as of the date when title vests in such governmental authority, and Lessee shall have no claim against Lessor (or otherwise) for any portion of the amount that may be awarded as damages as a result of such taking or condemnation or for the value of any unexpired term of this Lease. If less than a substantial part of the demised premises is taken or condemned by any governmental authority for any public or quasi-public use or purpose, the rent shall be equitably adjusted on the date when title vests in such governmental authority and the lease shall otherwise continue in full force and effect. For the purposes of this paragraph 14, a “substantial part” of the demised premises shall be considered to have been taken if more than fifty (50%) percent of the demised premises are unusable by Lessee.

 

  1. DEFAULT OF LESSEE. If the rental required in Paragraph 3 of this Lease or other charges to be paid hereunder by Lessee, or any part thereof, are not paid when due and shall remain unpaid for a period of ten (10) days after notice thereof in writing, or if Lessee shall fail to perform promptly any other covenant, condition, agreement by it to be performed hereunder and such failure shall continue for a period of ten (10) days after notice in writing specifying the nature of such failure, or if Lessee abandons the demised premises, or if Lessee breaches any obligation under this Lease by it to be performed which cannot be cured, then, and in any such event, Lessee shall be deemed to be in default and Lessor, without further notice, may at it’s option re-enter and take possession of the demised premises, including all improvements thereon and fixtures and equipment, located at, in or about the same, by force, legal proceedings, or otherwise, and take operate, or relate the same in whole or in part for the account of the Lessee at such rental and on such agreement and conditions and to such Lessee or Lessees as the Lessor in good faith may deem proper, for a term not exceeding the unexpired term of this Lease. Lessor shall receive all proceeds and rent accruing from such operation and reletting of the demised premises or fixtures and equipment and shall apply the same first to the payment of all costs and expense incurred by the Lessor in the obtaining of the possession and in the operation or reletting of said premises or fixtures or equipment, including alterations or repairs reasonably necessary to enable the Lessor to operate or relet the premises or fixtures and equipment and to the payment of all such amounts as may be due or become payable under the provisions of the Lease, and the balance remaining, if any, at the expiration of the full term of this Lease or on the sooner termination thereof by written notice of termination given by the Lessor to the Lessee shall be paid over to the Lessee.

 

  1. HOLDING OVER. Upon expiration of the term of this Lease, Lessee shall vacate the demised premises, surrendering the same to the Lessor as herein prescribed. Lessee shall be entitled to no notice to quit. This Lease shall operate as a notice to quit, and of Lessor’s intention to re-enter and recover possession of the demised premises. In the event that Lessee shall not immediately surrender, Lessor shall consider Lessee a “tenant by the month”. The Lessee as a monthly tenant shall be subject to all the conditions and convenience of this Lease. Lessee shall give to Lessor at least thirty (30) days written notice of any intention to quit the demised premises and Lessee shall be entitled to thirty (30) days written notice to quit the demised premises, except in the event of non-payment of rent in advance or a breach of any there covenant by this Lessee, in which event Lessee shall not be entitled to any notice to quit except as expressly set up by the law applicable as a condition precedent to Lessor’s rights to recover possession of the demised premises.

 

  1. Base Rent Adjustment: The base rent shall be adjusted (Rent Adjustment) in accordance with the following provisions:
  • The rental rate herein reserved shall be adjusted at the Lessor’s discretion.

INSURANCE RATING. Lessee will not conduct or permit to be conducted any activity, or place any equipment in or about the demised premises, which will, in any way, increase the rate of fire insurance or other insurance on the Building; and if any increase in the rate of fire insurance or other insurance is stated by any insurance company or by the applicable Insurance Rating Bureau to be due to any activity or equipment in or about the demised premises, such statement shall be conclusive evidence that the increase in such rate is due to any such activity or equipment, and, as a result hereof, Lessee shall be liable for such increase and shall reimburse Lessor thereof.

Lessee acknowledges that any insurance of Lessor shall not cover or insure any items of Lessee in the demised premises and agrees that Lessor shall not be liable for any loss of Lessee items, lost profits, or business continuation. Therefore, Lessee agrees that they will indemnify and hold harmless Lessor of any such damages of Lessee and shall self-insure for such losses or obtain “renter’s insurance” for such coverage. Lessee further agrees not to store gasoline, paint, nor other flammable materials, nor to use cooking appliances such as microwave ovens or hot plates other than those provided by Lessor in the building’s Break Room.

 

Fayette Executive Center is a “Smoke-Free Building”. NO smoking in the building is allowed.

 

  1. SERVICES AND UTILITIES. Lessor shall furnish reasonable adequate electricity, water, lavatory supplies, garbage collection, and normal cleaning service without additional cost to Lessee. Lessor shall furnish heat and air conditioning during the normal business hours, during such seasons of the year when such services are normally and usually furnished in modern office buildings. Lessor shall not be liable to Lessee, its employees, agents, business invitees, licensees, customers, clients, family members, guests, or trespassers for failure to furnish, or for the delay or suspension in furnishing, any such services or utilities caused by breakdown, maintenance, repairs, strikes, scarcity of labor or materials, or other causes beyond Lessor’s control. ther covenant by this Lessee, in which event Lessee shall not be entitled to any notice to quit except as expressly set up by the law applicable as a condition precedent to Lessor’s rights to recover possession of the demised premises.

 

  1. MAINTENANCE BY LESSEE. Lessee will keep the demised premises and the fixtures and equipment therein in clean, safe, and sanitary condition, will take good care thereof, will suffer no waste or injury thereto, and will, at the expiration or other termination of the term of this Lease, surrender the same, broom clean, in the same order and condition in which they were on the commencement of the term of this Lease; ordinary wear and tear accepted.

 

 

  1. LIABILITY OF LESSOR. Lessor shall not be liable to lessee, it’s employees, business invites, licensees, customers, clients, family members, guests or trespassers for any damage, compensation or claim arising from the failure of Lessor to repair within a reasonable time any defective condition in any portion of the Building which is in the possession or under the control of Lessee unless Lessor shall have had written notice of such defective condition from Lessee. Lessee hereby waives all claims against Lessor for damage to any property or loss due to theft, injury, or death of any person on, upon, or about the premises arising at any time and from any cause other than solely by reason of negligence or willful act of Lessor or it’s employees.

 

  1. INDEMNITY. Lessee will indemnify and hold harmless Lessor from and against any loss, damage, or liability occasioned by or resulting from any default hereunder or any willful or negligent act on the part of the Lessee, its agents, employees, or invitees, or persons permitted on the demised premises by Lessee.

 

  1. SUBORDINATION. This Lease is subject and subordinate to the lien of all and any mortgages (which term “mortgages”) shall include both construction and permanent financing and shall include deeds to secure debts and all similar security instruments) which may now or hereafter encumber or otherwise affect the real estate (both land and Building) of which the demised premises form a part, and to all and any renewals, extensions, modifications, recastings, or refinancings thereof.
  2. COVENANTS OF LESSOR. Lessor covenants that he has the right to make and enter into this Lease for the term aforesaid, and that if Lessee shall pay the rental and perform all of the covenants, terms, and conditions of this Lease to be performed by the Lessee, Lessee shall, during the term hereby created, freely, peaceable, and quietly occupy and enjoy the full possession of demised premises without molestation or hindrance by Lessor or Owner. In the event of any sale or transfer of the Building and the underlying land, the covenants and obligations of Lessor hereunder shall be imposed upon any successor in interest to the Owner; and, Owner and any prior Owner, shall be freed and relieved of any covenants and obligations created by the terms of this Agreement.

 

  1. WAIVER. If under the provisions hereof, Lessor shall institute proceedings and a compromise or settlement thereof shall be made, the same shall not constitute a waiver of any covenant herein contained nor of any of Lessor’s rights hereunder. No waiver by Lessor of any breach of any covenant, condition, or agreement herein contained shall operate as a waiver of such covenant, condition, or agreement itself, or of any subsequent breach thereof. No payment by Lessee or receipt by Lessor of a lesser amount than the monthly installments of rent herein stipulated shall be deemed to be other than on account of the earliest stipulated rent; nor shall any endorsement of statement on any check or letter accompanying a check for payment of rent be deemed an accord and satisfaction, and Lessor may accept such check or payment without prejudice to Lessor’s rights to recover the balance of such rent or to pursue any other remedy provided in this Lease. No re-entry by Lessor, and no acceptance by Lessor of keys from Lessee, shall be considered an acceptance of a surrender of the Lease.

 

  1. RIGHT OF LESSOR TO CURE LESSEE’S DEFAULT. If Lessee defaults in making of any payment or in doing of any act herein required to be made or done by Lessee, then Lessor may, but shall not be required to, make such payment or do such act, and the amount of the expense thereof, if made or done by Lessor, with interest thereon at the per-annum rate of 5% from the date paid by Lessor, shall be paid by Lessee to Lessor and shall constitute additional rent hereunder due and payable with the next monthly installment of rent; but the making of such payment or the doing of such act by Lessor shall not operate to cure such default or to stop Lessor from the pursuit of any remedy to which Lessor would otherwise be entitled.

 

  1. RULES AND REGULATIONS. Lessee, its agents and employees, shall abide by and observe rules and regulations as provided by Lessor. Lessee, its agents and employees, shall abide by and observe such other rules and regulations as may be promulgated from time to time by Lessor for the operation and maintenance of office space provided that the same are in conformity with common practice and usage in similar buildings and are not inconsistent with the provisions of this Lease and a copy thereof is sent to Lessee. Nothing contained in this Lease shall be construed to impose upon Lessor any duty or obligation to enforce such rules and regulations, or the terms conditions, or convenience contained in any other lease, as against any other Lessee, and Lessor shall not be liable to Lessee for violation of the same by any other Lessee, its employees, agents, business invitees, licensees, customers, clients, family members, or guests.

 

 

  1. NOTICES. All notice or other communication hereunder, shall be in writing and shall be deemed duly given if delivered in person or by certified or registered mail, return receipt requested, first-class, postage prepaid, (i) if to Lessor, at 110 Habersham Drive, Suite 113, Fayetteville, Georgia 30214 and (ii) if to Lessee, 110 Habersham Drive, Suite , Fayetteville, GA 30214, unless notice of change of address is given pursuant to the provisions of this Paragraph 29.

 

The party(s) responsible for direct payment is/are , and agrees to pay for said rent and services.

Email:  

Home Address:     

 

Home Phone #   

Cell Phone #     

 

Drivers License State:   , DL#  Number  

 

Social Security Number:

Date of Birth:

 

 

 

  1. SPECIAL PROVISIONS. See Exhibit A, attached and made a part hereof.

 

 

 LESSOR: Fayette Executive Center                                               LESSEE____________________

 

 

By:________________________                                          By:_________________________

 

**Personal Guarantee: I agree that if the above named company/entity is unable or refuses to pay any fee or invoice in regard to Fayette Executive Center, that I, the Responsible Party, will personally guarantee the payment.

 

______________________________________                    ______________________

Signature of Responsible Party for Payment                           Date

 

                                                       Exhibit A                             

 

SPECIAL CONDITIONS for Lease Agreement between Fayette Executive Center. and dated .

 

 

  1. Lessor agrees to provide to Lessee, as a part of this Lease, the following:
  2. 9:00 a.m. - 5:00 p.m., mail and visitors reception services, Monday-Friday, excluding the following nationally observed holidays:
    • New Year’s Day
    • Memorial Day
    • Fourth of July
    • Labor Day
    • Thanksgiving Day
    • Friday following Thanksgiving
    • Christmas Eve Day
    • Christmas Day
  3. Use of common reception area
  4. Use of conference room on a first come, first served “by reservation” basis, @ _____ first hours/month at no charge. There will be a fee of hourly rate for each additional hour over these hours per month.
  5. Use of common break-room
  6. Use of common copy/collating room
  7. T-1 High Speed Internet 00.00 Monthly

 

  1. Lessor shall provide for Lessee one (1) multi-line telephone set, hook-up to telephone equipment in office and at main switchboard, and local telephone service. Long distance   service is provided at no charge.

 

  1. Lessee agrees and understands that all above mentioned items in Paragraphs 2 & 3, are the express property of Lessor and as such, any item that is missing from office space once      Lessee vacates office, Lessee will be held responsible and agrees to pay for the replacement of said item.

 

  1. All services rendered but not so stated in this lease, shall be provided at current rates in effect at the time services are rendered and are billable on a monthly basis. Terms for services are net ten (10) days. Non-payment of any or all services rendered constitutes a default of lease and provisions of Paragraphs 3 and 15 of this Lease apply.

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Signed by Scott Mciver
Signed On: January 13, 2023


Signature Certificate
Document name: LEASE AGREEMENT
lock iconUnique Document ID: ffdee08b32bcd04755da6c09dcb3d71e3d27103d
Timestamp Audit
December 30, 2022 11:26 am EDTLEASE AGREEMENT Uploaded by Scott Mciver - support@balambico.com IP 186.146.4.104