BUILDING LEASE
Exhibit 10.36
This lease is between Paragon Systems, Inc. and Xxxxxxx Xxxxxxxx and Xxxxxx Xxxxxx, Joint Owners of the building to be known as Paragon Systems, Inc. Construction Operations located in Prospect, Tennessee, more specifically on the West side of Highway US 31 approximately three miles north of US Highway I-65.
The Following Terms apply:
The Lease Term shall be for thirty years.
The Lease Rate shall be Nine Hundred Dollars ($1100.00) each month, payable by the tenth of the month.
Paragon Systems shall make an initial lease payment of fifteen thousand dollars ($15,000) to secure the best lease terms on the building. This initial payment shall be appended to the end of the lease. In case Paragon Systems vacates the premises prior to the end of the initial payment being consumed, that money shall be refunded to Paragon Systems with any appropriate interest, as deemed proper by Xxxxxxxx and Luther jointly.
Paragon Systems shall pay all utilities on the building for the duration of its occupancy.
Paragon Systems shall pay all insurance on the building for the duration of its occupancy.
Paragon Systems shall pay all maintenance and normal wear on the building for the duration of its occupancy.
Paragon Systems shall exercise due care and diligence to protect the property at all times from any hazards.
Paragon Systems shall have the right to erect fences and other structures as required for the normal business operations it shall conduct on the premises.
Paragon Systems holds Xxxxxxx Xxxxxxxx and Xxxxxx Xxxxxx harmless from any claims or damages that may accrue through any operations that it pursues, whether on the property or otherwise.
Paragon Systems shall not make building alterations unless agreed to by Xxxxxxx Xxxxxxxx and Xxxxxx Xxxxxx. Alteration agreements shall be in the form of an amendment to this lease and may, if warranted, incur additional lease costs.
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Paragon Systems shall not engage in any hazardous materials operations that are prohibited by law and may constitute liability to either Xxxxxxxx or Luther.
This lease is contained in its entirety on this document. It shall be open to renegotiation at any time the parties agree it is warranted.
Signed this Day and Date indicated Below:
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/s/ Xxxxxxx Xxxxxxxx |
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June 29, 1996 |
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President |
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Paragon Systems, Inc. |
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/s/ Xxxxxxx Xxxxxxxx |
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June 29, 1996 |
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Xxxxxxx Xxxxxxxx, Co-Owner |
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/s/ Xxxxxx X. Xxxxxx |
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June 29, 1996 |
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Xxxxxx X. Xxxxxx, Co-Owner |
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