DFW CORPORATE PARK LEASE
1. BASIC LEASE TERMS
a. DATE OF LEASE EXECUTION:
b. TENANT: Xxxxx Bros. Electronics. Inc., a New Jersey Corporation
Trade Name:
Address (Leased Premises): 0000 XXX. 000 XXXXX 0000
XXXXX XXXXXX, XXXXX 00000
c. LANDLORD: EAGLE-DFW CORPORATE PARK, L.P. dba DFW CORPORATE PARK
BY: EAGLE-DFW, INC., IT'S GENERAL PARTNER
Address (For Notices): 0000 XXX. 000 XXXXX 000 XXXXX XXXXXX, XXXXX 00000
with a copy to Eagle Equity Management, Inc., 0000 Xxxxxxx, Xxxxx 000,
Xxxxxx, Xxxxx 00000 or to such other place as Landlord may from time to
time designate by notice to tenant.
d. TENANT'S ONLY PERMITTED USE OF PREMISES: Sales/administrative office for
electronics company.
e. PREMISES AREA: 3500 Rentable Square Feet
f. PROJECT AREA: 211,385 Square Feet
Unless otherwise indicated herein any statement of square footage,
rentable or otherwise set forth in this Lease or which may have been used
in calculating rental or any other amount due under the lease, is an
approximation which Landlord and Tenant agree is reasonable, and the
rental or any other calculation based upon square footage is not subject
to revision whether or not the actual square footage is more or less.
g. PREMISES PERCENT OF PROJECT:.0166
h. TERM OF LEASE: Commencement: February 1st, 1998
EXPIRATION: January 31st, 2001
Number of Months 36 Mo's
i. BASE MONTHLY RENT: $2,625,00
j. RENT ADJUSTMENT (Initial One):
LANDLORD
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TENANT
LANDLORD
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TENANT
k. EXPENSE BASE:
Expense Stop
or
Base Year 1998
1. PREPAID RENT: $ n/a
m: TOTAL SECURITY DEPOSIT: $2625.00, including a $ -0- non-refundable
cleaning fee.
n. BROKERS(S): N/A
o. GUARANTORS:
p. ADDITIONAL SECTIONS
Additional sections of this lease numbered 33 through 34 are attached
hereto and made a part hereof.
ADDITIONAL EXHIBITS
Additional exhibits lettered A through E are attached hereto and made a
part hereof.
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2. PREMISES: Landlord leases to Tenant the premises described in Section 1 and
in Exhibit A (the "Premises") located in this project described on Exhibit B
(the "Project"). Landlord reserves the right to modify Tenant's percentage
of the Project as set forth in Section 1 if the Project size is increased
through the development of additional property. By entry on the Premises,
Xxxxxx acknowledges that it has examined the Premises and accepts the
Premises in their present condition, subject to any additional work Landlord
has agreed to do.
3. TERM. The term of this Lease is for the period set forth in Section 1
commencing on the date in Section 1. If Landlord, for any reason, cannot
deliver possession of the Premises to Tenant upon commencement of the term,
this Lease shall not be void or voidable, nor shall Landlord be liable to
Tenant for any loss or damage resulting from such delay. In that event,
however, there shall be a rent abatement covering the period between the
commencement of the term and the time when Landlord delivers possession to
Tenant, and all other terms and conditions of this Lease shall remain in
full force and effect, provided, however, that if Landlord cannot deliver
possession of the Premises to Tenant, this Lease shall be void. If a delay
in possession is caused by Xxxxxx's failure to perform any obligation in
accordance with this Lease, the term shall commence as set forth in Section
1 and there shall be no reduction. of rent between the commencement of the
term and the time Tenant takes possession.
4. RENT.
a. Base Rent. Tenant shall pay Landlord monthly base rent in the initial
amount in Section 1 which shall be payable monthly in advance on the
first day of each and every calendar month ("Base Monthly Rent")
provided, however, the first month's rent is due and payable upon
execution of this Lease If the term of this Lease contains any rental
abatement period, Tenant hereby agrees that if Tenant breaches the Lease
and/or abandons the Premises before the end of the Lease term, or if
Tenant's right to possession is terminated by Landlord because of
Xxxxxx's breach of the Lease, Landlord shall at its option, (1) void the
real abatement period and (2) recover from Tenant in addition to any
damages due Landlord under the terms and conditions of the Lease, rent
prorated for the duration of the rental abatement period at a rental rate
equivalent to two (2) times the Base Monthly Rent.
For purposes of Section 467 of the Internal Revenue Code the parties to
this Lease hereby agree to allocate the stated rents, provided herein, to
the periods which correspond to the actual rent payments as Provided
under the terms and conditions of this agreement.
b. Rent Adjustment
c. Expenses. The purpose of this Section 4.c is to ensure that Tenant bears
a share of all Expenses related to the use, maintenance, ownership,
repair or replacement, and insurance of the Project. Accordantly,
beginning on the date Tenant takes possession of the Premises, Tenant
shall pay to Landlord that portion of Tenants share of Expenses related
to the Project which is in excess of the Annual Expense Base shown in
Section 1.
1) Expenses Defined. The term "Expenses" shall mean all costs and
expenses of the ownership operation, maintenance, repair or
replacement, and insurance of the Project, including without
limitation, the following costs:
(a) All supplies, materials, labor, equipment, and utilities used in
or related to the operation and maintenance of the Project;
(b) All maintenance, management, janitorial, legal, accounting,
insurance, and service agreement costs related to the Project;
(c) All maintenance, replacement and repair costs relating to the
areas within or around the Project, including, without limitation,
air conditioning systems, sidewalks, landscaping, service areas,
driveways, parking areas (including resurfacing and restripping
parking areas), walkways, building exteriors including painting)
signs and directories, repairing and replacing roofs, walls, etc.
These costs may be included either based on actual expenditures or
the use of an accounting reserve based on past cost experience for
the Project.
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(d) Amortization along with reasonable financing charges) of capital
improvements made to the Project which may be required by any
government authority or which will improve the operating
efficiency of the Project (provided, however, that the amount of
such amortization for improvements not mandated by government
authority shall not exceed in any year the amount of costs
reasonably determined by Landlord in its sole discretion to have
been saved by the expenditure either through the reduction or
minimization of increases which would have otherwise occurred).
(e) Real Property Taxes including all taxes assessments (general and
special) and other impositions or charges which may be taxed,
charged, levied assessed or imposed upon all or any portion
of or in relation to the Project or any portion thereof, any
leasehold estate in the Premises or measured by rent from the
Premises, including any increase caused by the transfer, sale or
encumbrance of the Project or any portion thereof. "Real Property
Taxes" shall also include any form of assessment, levy, penalty,
charge or tax (other than estate, inheritance, net income or
franchise taxes, imposed by any authority having a direct or
indirect power to tax or charge including without limitation any
city, county, state, federal or any improvement or other
district, whether such tax is (1) determined by the area of the
Project or the rent or other sums payable under this Lease, (2)
upon or with respect to any legal or equitable interest of
Landlord in the Project or any part thereof; (3) upon this
transaction or any document to which Tenant is a party creating a
transfer, in any interest in the Protect, (4) in lieu of or as a
direct substitute in whole or in part of or in addition to any
real property taxes on the Project; (5) based on any parking
spaces or parking facilities provided in the Project or (6) in
consideration for services such as police protection, fire
protection, street, sidewalk and roadway maintenance, refuse
removal or other services that may be provided by any governmental
or quasi-governmental agency from time to time which were formerly
provided without charge or with less charge to property owners or
occupants.
2. Annual Estimate of Expenses. When Xxxxxx takes possession of the Premises,
Landlord shall estimate Tenant's portion of Expenses for the remainder of
the calendar year based on the Tenant's portion of the Protect Area set
forth in Section 1. At the commencement of each calendar year thereafter,
Landlord shall estimate Tenant's portion of Expenses for the coming year
based on the Tenant's portion of the Project Area set forth in Section 1.
3. Monthly Payment of Expenses. If Xxxxxx's portion of said estimate of
Expenses shows an increase for the remainder of the calendar year over the
Annual Expense Base, as set forth in Section 1, Tenant shall pay to
Landlord, as additional rent, such estimated increase in monthly
installments of one-twelfth (1/12) beginning on the date Tenant takes
possession of the Premises. If Xxxxxx's portion of said estimate of Expenses
shows an increase for subsequent calendar years over the Annual Expense
Base, as set forth in, Section 1 ,Tenant shall pay to Landlord, as
additional rent such estimated increase to monthly installments of
one-twelfth (1/12) beginning on January 1 of the forthcoming calendar year,
and one-twelfth (1/12) on the first day of each succeeding calendar month.
As soon as practical following each calendar year. Landlord shall prepare an
accounting of actual Expenses incurred during the prior calendar year and
such accounting shall reflect Tenant's share of Expenses. If the additional
rent paid by Tenant under this Section 4.c.3 during the preceding calendar
year was less than the actual amount of Tenant's share of Expenses, Landlord
shall so notify Tenant and Tenant shall pay such amount to Landlord within
30 days of receipt of such notice. Such amount shall be deemed to have
accrued during the prior calendar year and shall be due and payable from
Tenant even though the term of this Lease has, expired or this Lease has
been terminated prior to Tenants receipt of this notice. Tenant shall have
thirty (30) days from receipt of such notice to contest the amount due,
failure to so notify Landlord shall represent final determination of
Tenant's share of expenses. If Tenant's payments were greater than the
actual amount then such overpayment shall be credited by Landlord to all
present rent due under this Section 4.c.3.
4. Rent Without Offset and Landlord Charge. All rent shall be paid. Tenant to
Landlord monthly in advance on the first day of every calendar month, at the
address shown in Section 1 or such other place as Landlord may designate in
writing from time to time. All rent shall be paid without prior "demand or
notice and without any deduction or offset whatsoever. All rent shall be
paid in lawful currency of the United States of America. All rent due for
any partial month shall be prorated at the rate of 1/30th of the total
monthly rent per day. Tenant acknowledges that late payment by Tenant to
Landlord of any rent or other sums due under this Lease will cause Landlord
to incur costs not contemplated by this Lease, the exact amount of such
costs being extremely difficult and impractible to ascertain. Such costs
include, without limitation, processing and accounting charges and late
charges that may be imposed on Landlord by the terms of any encumbrance or
note secured by the Premises. Therefore, if any rent or other sum due from
Tenant is not received when due, Tenant shall pay to Landlord an additional
sum equal to 10% of such overdue payment. Landlord and Tenant hereby agree
that such late charge represents a fair and reasonable estimate of the
costs that Landlord will incur by reason of any such late payment and that
the late charge is in addition to any and all remedies available to the
Landlord and that the assessment and/or collection of the late charge
shall not be deemed a waiver of any other default. Additionally, all such
delinquent rent or other sums, plus this late charge, shall bear interest
at the then maximum lawful rate permitted to be charged by Landlord. Any
payments of any kind returned for insufficient funds will subject to an
additional handling charge of $25.00, and thereafter, Landlord may require
Tenant to pay all future payments of rent or other sums due by money order,
or cashier's check
5. PREPAID RENT: Upon the execution, of this Lease, Tenant shall pay to
Landlord the prepaid rent set forth in Section 1, and if Tenant is not in
default of any provisions of this Lease such prepaid rent shall be applied
toward the rent due for the last month of the term. Landlord's obligations
with respect to the prepaid rent are those of a debtor and not of a trustee,
and Landlord can commingle the prepaid rent with Landlord's general funds.
Landlord shall not be required to pay Tenant interest on the prepaid rent.
Landlord shall be entitled to immediately endorse and cash Tenant's prepaid
rent; however, such endorsement and cashing shall not constitute Landlord's
acceptance of this lease. In the event Landlord does not accept this Lease,
Landlord shall return said prepaid rent.
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6. DEPOSIT. Upon execution this Lease, Tenant shall deposit the security
deposit set forth in Section 1 with Landlord, in part as security for the
performance by Tenant of the provisions of this Lease, and in part as a
cleaning fee. If Tenant is in default, Landlord can use the security deposit
or any portion of it to cure the default or to compensate Landlord for any
damages sustained by Landlord resulting from Xxxxxx's default. Upon demand,
Xxxxxx shall immediately pay to Landlord a sum equal to the portion of the
security deposit expended or applied by Landlord to maintain the security
deposit in the amount initially, deposited with Landlord. In no event will
Tenant have the right to apply any part of the security deposit to any rent
or other sums due under this Lease. If Tenant is not in default at the
expiration or termination of this Lease Landlord shall return the entire
security deposit to Tenant, except for 10% of first month's rent or $125
whichever is greater, which Landlord shall retain as a non-refundable
cleaning fee. Landlord's obligations with respect to the deposit are those
of a debtor and not of a trustee, and Landlord can commingle the security
deposit with Xxxxxxxx's general funds. Landlord shall not be required to pay
Tenant interest on the deposit. Landlord shall be entitled to immediately
endorse and cash Xxxxxx's prepaid deposit; however, such endorsement and
cashing shall not constitute Landlord's acceptance of this Lease. In the
event Landlord does not accept this Lease, Landlord shall return said
prepaid deposit
7. USE OF PREMISES AND PROJECT FACILITIES. Tenant shall use the Premises solely
for the purposes set forth in Section 1 and for no other purpose without
obtaining the prior written consent of landlord. Tenant acknowledges, that
neither Landlord nor any agent of Landlord has made any representation or
warranty with respect to the Premises or with respect to the suitability of
the Premises or the Project for the conduct of Tenant's business, nor has
Landlord agreed to undertake any modification alteration or improvement to
the Premises or the Project, except as provided in writing in this Lease.
Tenant acknowledges that Landlord may from time to time, at its sole
discretion, make such modifications, alterations, deletions or improvements
to the Project as Landlord may deem necessary or desirable, without
compensation or notice to Tenant. Tenant shall, promptly comply with all
laws, ordinances, orders and regulations affecting the Premises and the
Project, including without limitation, any rules and regulations that may be
attached to this Lease and to any reasonable modifications to these rules
and regulations as Landlord may adopt from time to time. Tenant shall not do
or permit anything to be done in or about the Premises or bring or keep
anything in the Premises that will in any way increase the premiums paid by
Landlord for its insurance, related to the Project or which will in any way
increase the premiums for fire or casualty insurance carried by other
tenants in the Project. Tenant will not perform any act or carry on any
practices that may injure the Premises or the Project or that may be a
nuisance or menace to other tenants in the Project; or that shall in anyway
interfere with the quiet enjoyment of such other tenants. Tenant shall not
use the Premises for sleeping, washing clothes, cooking or the preparation,
preparation, manufacture or mixing of anything that might emit any,
objectionable odor, noises, vibrations or lights onto such other tenants. If
sound insulation is required to muffle noise produced by Tenant on the
Premises, Tenant at its own cost shall provide all necessary insulation.
Tenant shall not do anything on the premises which will overload any
existing parking or service to the Premises. Pets and/or animals of any type
shall not be kept on the Premises with the exception of seeing-eye dogs.
Only trash generated in the normal course of the business of Xxxxxx's
Permitted Use, and only such trash actually generated by work on site in the
Leased Premises, may be disposed of in trash containers at the designated
locations. Only the materials permitted by law to be disposed of, in the
containers may be so disposed of, and under no circumstances may hazardous
waste materials be disposed of in project trash containers. No trash or
scrap materials may be brought into the Premises, Project or Property at
any time for disposal, storage, or any other purpose. No "trade" trash,
including but not limited to, industrial scrap carpet scrap or wallboard may
be disposed of in the containers. No storing of trash or scrap is permitted
in or about the Premises, Project or Property. In the event Lessee generates
more trash by work on site in the Leased Premises in the normal course of
Tenant's permitted use than can be handled with the current pickup, Tenant
shall be assessed the costs, and Tenant shall be exclusively responsible
immediately to pay for upon demand, any additional service.
8. SIGNAGE. All signing shall comply with rules and regulations set forth by
landlord as may be modified from time to time. Current rules and regulations
relating to signs are described on Exhibit C. Tenant shall place no window
covering (e.g., shades, blinds, curtains, drapes, screens, or tinting
materials), stickers, signs, lettering, banners or advertising or display
material on or near exterior windows or doors if such materials are visible
form the exterior of the Premises, without Landlord's prior written consent.
Similarly, Tenant may not install any alarm boxes, for protection tape or
other security equipment on the Premises without Landlord's prior written
consent. Any material violating this provision may be destroyed by Landlord
without compensation to Tenant.
9. PERSONAL PROPERTY TAXES. Tenant shall pay before delinquency all taxes,
assessments, license fees and public charges levied, assessed or imposed
upon its business operations as well as upon all trade fixtures, leasehold
improvements, merchandise and other personal property in or about the
Premises.
10. PARKING. Landlord grants to Tenant and Tenant's customers, suppliers,
employees and invitees a non-exclusive license to use the designated parking
areas in the Project for the use of motor vehicles during the term of this
Lease. Landlord reserves the right at any time to grant similar
non-exclusive use to other tenants, to promulgate rules and regulations
relating to the use of such parking areas, including reasonable restrictions
on parking by tenants and employees, to designate specific spaces for the
use of any tenant to make changes in the parking layout from time to time,
and to establish reasonable time limits on parking. Overnight parking is
prohibited and any vehicle violating this or any other vehicle regulation
adopted by Landlord is subject to removal at the owner's expense.
11. UTILITIES. (Strike and initial clause which not apply).
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b. Industrial Space. Tenant shall pay for all heat, light, power,
electricity, telephone or other service metered, chargeable or provided
to the Premises. Landlord reserves the right to install separate meters
for any such utility and to charge Tenant for the cost of such
installation.
LANDLORD
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TENANT
12. MAINTENANCE. Landlord shall maintain, in good condition, the structural
parts of the Premises, which shall include only the foundations, bearing and
exterior walls (excluding glass), subflooring and roof (excluding
skylights), the unexposed electrical, plumbing and sewerage systems,
including without limitation those portions of the systems lying outside the
Premises, exterior doors (excluding glass), window frames, gutters and
downspouts on the Building and the heating, ventilating and air conditioning
system servicing the Premises; provided, however, the cost of all such
maintenance shall be considered "Expenses" for purposes of Section 4.c.
Except as provided above, Tenant shall maintain and repair the Premises in
good condition, including without limitation maintaining and repairing all
walls, floors, ceilings, interior doors, exterior and interior windows and
fixtures as well as damage caused by Tenant, its agents, employees or
invitees. Upon expiration or termination of this Lease, Xxxxxx shall
surrender the Premises to Landlord in the same condition as existed at the
commencement of the term, except for reasonable wear and tear or damage
caused by fire or other casualty for which Xxxxxxxx has received all funds
necessary for restoration of the Premises from insurance proceeds.
13. ALTERATIONS. Tenant shall not make any alterations to the Premises, or to
the Project, including any changes to the existing landscaping without
Landlord's prior written consent. If Landlord gives its consent to such
alterations Landlord may post notices in accordance with the laws of the
state in which the premises are located. Any alterations made shall remain
on and be surrendered with the Premises upon expiration or termination of
this Lease, except that Landlord may, within 30 days before or 30 days after
expiration of the term, elect to require Tenant to remove any alterations
which Tenant may have made to the premises. If Landlord so elects, at its
own cost Tenant shall restore the Premises to the condition designated by
Landlord in its election, before the last day of the term or within 30 days
after notice of its election is given, whichever is later.
Should Landlord consent in writing to Tenant's alteration of the Premises,
Tenant shall contract with a contractor approved by Landlord for the
construction of such alterations, shall secure ail appropriate governmental
approvals and permits, and shall complete such alterations with due
diligence in compliance, with plans and specifications approved by Landlord.
All such construction shall be performed in a manner which will not
interfere with the quiet enjoyment of other tenants of the Project. Tenant
shall pay all costs for such construction and shall keep the Premises and
the Project free and clear of all mechanics' Dens which may result from
construction by Tenant. If Landlord gives its consent, no such alterations
will proceed without Landlord's prior written approval of Xxxxxx's
contractor, which shall be conditioned on proof of insurance by Xxxxxx's
contractor for public liability and automobile liability and property
damage insurance with limits not less than $1,000,000/$250,000/$500,000
respectively endorsed to show Landlord as an additional insured and for
worker's compensation as required and detailed and specifications for
such work.
Tenant will keep the Premises and Property free from any liens arising out
of any work performed, materials furnished or obligations incurred by
Tenant, its agents or contractors. Xxxxxx agrees that should any lien be
posted on the property due to work performed, materials furnished or
obligations incurred by it, that it will immediately notify and proceed to
remove such lien. Tenant further acknowledges that it will remain liable to
Landlord and indemnify it for any costs or damages to Landlord or the
property as a result of such liens. Xxxxxxxx has the right to post and keep
posted in the Premises and/or Property, any notices that may be provided by
law or which landlord may deem to be proper for the protection of Landlord,
the Premises and/or Property from such liens.
14. RELEASE AND INDEMNITY. As material consideration to Landlord, Xxxxxx agrees
that Landlord shall not be liable to Tenant for any damage to Tenant or
Tenant's property from any cause, and Tenant waives all claims against
Landlord for damage to persons or property arising for an reason, except for
damage resulting directly from Xxxxxxxx's breach of its express obligations
under this Lease which Landlord as not cured within a reasonable time after
receipt of written notice of such breach from Tenant. Tenant shall indemnify
and hold Landlord harmless from all damage's arising out of any damage to
any person or property occurring in, on or about the Premises or Tenant's
use of the Premises or Tenants breach of any term of this Lease.
15. INSURANCE. Tenant, at its cost, shall maintain public liability and property
damage insurance and products liability insurance with a single combined
liability limit of $1,000,000 insuring against all liability of Tenant and
its authorized representatives arising out of or in connection with Xxxxxx's
use or occupancy of the Premises. Public liability insurance, products
liability insurance and Property damage insurance shall insure performance
by Tenant of the indemnity provisions of Section 14. Landlord shall be named
as additional insured and the policy shall contain cross-liability
endorsements. On all its personal property, at its cost, Tenant shall
maintain a policy of standard fire and extended coverage insurance with
vandalism and malicious mischief endorsements and all risk" coverage on all
Tenant's improvements, and alterations in or about the Premises to the
extent of at least 90% of their full replacement value. The proceeds from
any such policy shall be used by Tenant for the replacement of personal
property and the restoration of Tenant's improvements or alterations: This
policy will contain an express waiver, in favor of Landlord, of any right of
subrogation by the insurer. All insurance required to be provided, by Tenant
under this Lease shall release Landlord from any claims for damage to any
person or the Premises and the Project, and to Tenant's fixtures, personal
property improvements and alterations in or on the Promises or the Project,
caused by or resulting from risks insured against under any insurance policy
carried by Tenant and in force at the time, of such damage All insurance
required to be provided by Tenant under this Lease; (a) shall be
issued by Insurance companies authorized to do business in the state in
which the premises are located with a financial rating of at least an
'A'. XII status as rated in the most recent edition of Best's Insurance
Reports; (b) shall be, issued as a primary policy, and (c) shall contain an
endorsement requiring at least 30 days prior written notice of cancellation
to Landlord and Landlord's lender, before cancellation or change in
coverage, scope or amount of any policy. Tenant shall deliver a certificate
or copy of such policy together with evidence of payment of all current
premiums to Landlord within 30 days of execution of this Lease.
Tenant's failure to provide evidence, of such coverage to Landlord
may, in Xxxxxxxx's sole discretion, constitute a default under this Lease.
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16. DESTRUCTION. If during the term, the Premises or Project are more than 10%
destroyed from any cause, or rendered inaccessible or unusable from any
cause, Landlord may, in its sole discretion, terminate this Lease by
delivery of notice to Tenant within 30 days of such event without
compensation to Tenant. If in Landlord's estimation, the Premises cannot be
restored within 90 days following such destruction, the Landlord shall
immediately notify Tenant and Tenant may terminate this Lease by delivery of
notice to Landlord within 30 days of receipt of Landlord's notice. If
Landlord does not terminate this lease and if in Landlord's estimation the
Premises can be restored within 90 days, then Landlord shall commence to
restore the Premises in compliance with then existing laws and shall
complete such restoration with due diligence. In such event, this Lease
shall remain in full force and effect, but there shall be an abatement
of rent between the date of destruction and the date of completion of
restoration, based on the extent to which destruction interferes with
Xxxxxx's use of the Premises.
17. CONDEMNATION.
a. Obligations to be Governed by Xxxxx. If during the term of the Lease
there is an takin of all or pus pant to the Premises or the Project, the
rights and obligations of the parties shall be determined pursuant to
this Lease.
b. Total or Partial Taking. If the Premises are totally taken by
condemnation, this Lease shall terminate on the date of taking. If any
portion of the Premises is taken by condemnation, this Lease shall
remain in effect, except that Tenant can elect to terminate this Lease
if the remaining portion of the Premises is rendered unsuitable for
Tenant's continued use of the Premises. If Tenant elects to terminate
this Lease, Tenant must exercise its right to terminate by giving notice
to Landlord within 30 days after the nature and extent of the taking
have been finally determined. If Tenant elects to terminate this Lease,
Tenant shall also notify Landlord of the date of termination, which
shall not be earlier than 30 days nor later than 90 days after Tenant
has notified Landlord of its election to terminate; except that this
Lease shall terminate on the date of taking if the date of taking falls
on a date before the date of termination as designated by Tenant. If
any portion of the Premises is taken by condemnation and this Lease
remains in full force and effect, on the date of taking the rent shall
be reduced by an amount in the same ratio as the total number of square
feet in the Premises taken bears to the total number of square feet in
the Premises immediately before the date of taking. Tenant will not
because of such taking assert any claim against the Landlord or the
taking authority for any compensation because of such taking and
Landlord will be entitled to receive the entire amount of any
compensation or award without deduction for any estate of interest of
Tenant, unless Landlord would not be entitled to such award and such
award or part thereof does not diminish Landlord's award.
18. ASSIGNMENT OR SUBLEASE. Tenant shall not assign or encumber its interest in
this Lease or the Premises or sublease all or any part of the Premises or
allow any other person or entity (except Tenants authorized representatives,
employees, invitees, or guests) to occupy or use all or any part of the
Premises without first obtaining Landlord's consent which Landlord may
withhold in its sole discretion. Any assignment encumbrance or sublease
without Landlord's written consent shall be voidable and at Landlord's
election, shall constitute a default. It Tenant is a partnership, a
withdrawal or change, voluntary, involuntary or by operation of law of any
partner; or the dissolution of the partnership, shall be deemed a voluntary
assignment. If Tenant consists of more than one person, a purported
assignment, voluntary or involuntary, or by operation of law from one person
to the other shall be deemed a voluntary assignment. If Tenant is a
corporation, any dissolution, merger; consolidation or other reorganization
of Tenant, or sale or other transfer of a controlling percetage of the
capital stock of Tenant, or the sale of at least 25% of the value of the
assets of Tenant shall be deemed a voluntary assignment. The phrase
"controlling percentage" means ownership of and right to vote stock
possessing at least 25% of the total combined voting power of all classes of
Tenant's capital stock issued, outstanding and entitled to vote for election
of directors. This Section 18 shall not apply to corporations the stock of
which is traded through an exchange or over the counter. All rent received
by Tenant from its subtenants in excess of the rent payable by Tenant to
Landlord under this Lease shall be paid to Landlord, or any sums to be paid
by an assignee to Tenant in consideration of the assignment of this Lease
shall be paid to Landlord. If Tenant requests Xxxxxxxx to consent to a
proposed assignment or subletting, Tenant shall pay to Landlord whether
or not consent is ultimately given, $100 or Landlord's reasonable attorneys'
fees incurred in connection with such request whichever is greater.
No interest of Tenant in this Lease shall be assignable by involuntary
assignment through operation of law (including without limitation the
transfer of this Lease by testacy or intestacy). Each of the following acts
shall be considered an involuntary assignment: (a) If Tenant is or becomes
bankrupt or insolvent, makes an assignment for the benefit of creditors, or
institutes proceedings under the Bankruptcy Act in which Tenant is the
bankrupt; or if Tenant is a partnership or consists of more than one person
or entity, if any partner of the partnership or other person or entity is or
becomes bankrupt or insolvent, or makes an assignment for the benefit of
creditors; or (b) If a writ of attachment or execution is levied on this
Lease; or (c) If in any proceeding or action to which Tenant is a party, a
receiver is appointed with authority to take possession of the Premises. An
involuntary assignment shall constitute a default by Tenant and Landlord
shall have the right to elect to terminate this Lease, in which case this
Lease shall not be treated as an asset of Tenant.
19. DEFAULT. The occurrence of any of the following shall constitute a default
by Tenant. (a) A failure to pay rent or other charge when due and such
default continues for a period of 5 (five) days after such default occurs;
(b) Abandonment and vacation of the Premises (failure to occupy and operate
the Premises for ten consecutive days shall be deemed an abandonment and
vacation); or (c) Failure to perform any other provision of this Lease and
such default continues for 15 (fifteen) days after such default occurs.
20. LANDLORD'S REMEDIES. Landlord shall have the following remedies if Tenant is
in default. (These remedies are not exclusive; the are cumulative and in
addition to any remedies now or later allowed by law): Landlord may
terminate Tenant's right to possession of the Premises at any time. Tenant
hereby grants Landlord full and free right, whether by changing or picking
of locks if necessary, to enter and repossess the Premises, with or without
process of law. Tenant releases Landlord of any liability for any damage
resulting therefrom and waives any right to claim damage for such re-entry.
Xxxxxx also agrees that Xxxxxxxx has not waived or relinquished any other
right given to it hereunder or by operation of law. No act by Landlord other
than giving notice to Tenant shall terminate this Lease. Acts of
maintenance, efforts to relet the Premises, or the appointment of a receiver
on Landlord's initiative to protect Xxxxxxxx's interest under this Lease
shall not constitute a termination of Tenant's right to possession. Upon
termination of Xxxxxx's right to possession, Landlord has the right to
recover from Tenant: (1) The worth of the unpaid rent that had been earned
at the time of termination of Tenant's right to possession; (2) The worth of
the amount of the unpaid rent that would have been earned after the date of
termination of Tenant's right to possession; (3) Any other amount, including
court, attorney
6
and collection costs, necessary to compensate Landlord for all detriment
proximately caused by Tenants default. "The Worth," as used for Item 20(1)
in this Paragraph 20 is to be computed by allowing interest at the maximum
rate an individual is permitted to charge by law or 12%, whichever is
greater. "The worth at the time of the award" as used for Item 20(2) in this
Paragraph 20 is to be computed by discounting the amount at the discount
rate of the Federal Reserve Bank of San Francisco at the time of termination
of Tenant's right of possession.
21. ENTRY ON PREMISES. Landlord and its authorized representatives shall have
the right to enter the Premises at all reasonable times for any of the
following purposes: (a) To determine whether the Premises are in good
condition and whether Tenant is complying with its obligations under this
Lease; (b) To do any necessary maintenance and to make any restoration to
the Premises or the Project that Landlord has the right or obligation to
perform, (c) To post "for sale" signs at any time during the term, to post
"for rent" or "for lease" signs during the last 90 days of the term, or
during any period while Tenant is in default; (d) To show the Premises to
prospective brokers, agents, buyers, tenants or persons interested in
leasing or purchasing the Premises, at any time during the term; or (e) To
repair, maintain or improve the Project and to erect scaffolding and
protective barricades around and about the Premises but not so as to prevent
entry to the Premises and to do any other act or thing necessary for the
safety or preservation of the Premises or the Project. Landlord shall not be
liable in any manner for any inconvenience, disturbance, loss of business,
nuisance or other damage arising out of Landlord's entry onto the Premises
as provided in this Section 21. Tenant shall not be entitled to an abatement
or reduction of rent if Landlord exercises any rights reserved in this
Section 21. Landlord shall conduct his activities on the Premises as
provided herein in a manner that will cause the least inconvenience,
annoyance or disturbance to Tenant. For each of these purposes, Landlord
shall at all times have and retain a key with which to unlock all the doors
in, upon and about the Premises, excluding Xxxxxx's vaults and safes. Tenant
shall not alter any lock or install a new or additional lock or bolt on any
door of the Premises without prior written consent of Landlord. If Landlord
gives its consent, Tenant shall furnish Landlord with a key for any such
lock.
22. SUBORDINATION. Once Xxxxxx has received written notice identifying the name
and address of any lender (a "Lender") holding a mortgage or deed of trust
(a "Mortgage") on the property of which these premises form a part (the
"Property"), Xxxxxx agrees to notify such Lender by certified mail, return
receipt requested, with postage prepaid, of any default on the part of
Landlord under this Lease, and Xxxxxx further agrees that, notwithstanding
any provisions of this Lease, no cancellation of termination of this Lease
and no abatement or reduction of the rent payable hereunder shall be
effective unless the Lender has received notice of the same and have failed
within thirty (30) days after the time when it shall have become entitled
under the Mortgage to remedy the same, to commence to cure such default
and thereafter diligently prosecute such cure to completion, provided that
such period may be extended, if the Lender needs to obtain possession of the
Property to cure such default, to allow the Lender to obtain possession of
the Property provided the Lender commences judicial or non-judicial
proceedings to obtain possession within such period and thereafter
diligently prosecutes such efforts and cure to completion. It is understood
that the Lender shall have the right, but not the obligation, to cure any
default on the part of Landlord.
Tenant agrees that if a Xxxxxx shall succeed to the interest of Landlord
under this Lease neither the Lender nor its successors or assigns shall be:
liable for any prior act or omission of Landlord; subject to any claims,
offsets, credits or defenses which Tenant might have against any prior
landlord (including Landlord); or bound by, any assignment (except as
otherwise expressly permitted hereunder); surrender, release, waiver,
amendment or modification of the Lease made without such Xxxxxx's prior
written consent; or obligated to make any payment to Tenant or liable for
refund of all or any part of any security deposit or other prepaid charge,
to Tenant held by Landlord for any purpose unless the Lender shall have come
into exclusive possession of such deposit or charge. In addition, if a
Lender shall succeed to the interest of Landlord under this Lease, the
Lender shall have no obligation, nor incur any liability, beyond its then
equity interest, if any, in the Property.
In the event that a Lender (or any person or entity to whom the Mortgage may
subsequently be assigned) notifies Tenant of a default under the Mortgage
and demands that Tenant pay its rent and all other sums due under this Lease
to the Lender, Tenant shall honor such demand without inquiry and pay its
rent and all other sums due under this Lease directly to the Lender or as
otherwise required pursuant to such notice and shall not thereby incur any
obligation or liability to Landlord.
Xxxxxx agrees and acknowledges that this Lease is subordinate to the lien of
any Mortgage, and in the event a Lender succeeds to the interest of Landlord
under this Lease, then, at the Lender's election (A) Tenant shall be bound
to the Lender under all of the terms, covenants and conditions of this Lease
for the remaining balance of the term hereof, with the same force and effect
as if the Lender were the lessor hereunder, and Xxxxxx does hereby agree
to attorn to the Lender as its lessor without requiring the execution of any
further instruments immediately upon the Lender succeeding to the interest
of Landlord under this Lease; provided, however, that Xxxxxx agrees to
execute and deliver to the Lender any instrument reasonably requested by it
to evidence such attonment; and (B) subject to the observance and
performance by Tenant of all the terms, covenants and conditions of this
Lease on the part of Tenant to be observed and performed, the Lender shall
recognize the leasehold estate of Tenant under all of the terms and
conditions of this Lease for the remaining balance of the term with the same
force and effect as if the Lender were the lessor under the Lease.
Tenant agrees at antime and from time to time, as requested by Landlord or
any Lender, upon not less than ten (10) days' prior notice, to execute and
deliver without cost or expense to the Landlord or such Lender an estoppel
certificate certifying that this Lease is unmodified and in full force and
effect (or if, there have been modifications, that the same is in full force
and effect as modified and stating the modifications), certifying the dates
to which all fixed or base rent and any additional rent have been paid, and
stating whether or not, to the knowledge of this Lease, and, if so,
specifying each such default of which Tenant may have knowledge, it being
intended that any such statement delivered pursuant thereto may be relied
upon my any other person with whom Landlord or such Lender may be dealing.
23. NOTICE. Any notice, demand, request, consent, approval or communication
desired by either party or required to be given, shall be in writing and
served either personally or sent by prepaid certified first class mail,
addressed as set forth in Section 1. Either party may change its address by
notification to the other party. Notice shall be deemed to be communicated
48 hours from the time of mailing, or from the time of service as provided
in this Section 23.
7
24: WAIVER. No delay or omission in the exercise of any right or remedy by
Landlord shall impair such right or remedy or be construed as a waiver. No
act or conduct of Landlord, including without limitation, acceptance of the
keys to the Premises, shall constitute an acceptance of the surrender of the
Premises by Tenant before the expiration of the term. Only written notice
from Landlord to Tenant shall constitute acceptance of the surrender of the
Premises and accomplish termination of the Lease. Landlords consent to or
approval of any act by Tenant requiring Landlord's consent or approval shall
not be deemed to waive or render unnecessary Landlord's consent to or
approval of any subsequent act by Xxxxxx. Any waiver by Landlord of any
default must be in writing and shall not be a waiver of any other default
concerning the same or any other provision of the Lease.
25. SURRENDER OF PREMISES; HOLDING OVER. Upon expiration of the term, Xxxxxx
shall surrender to Landlord the Premises and all Tenant improvements and
alterations in good condition, except for ordinary wear and tear and
alterations Tenant has the right or is obligated to remove under the
provisions of Section 13 herein. Tenant shall remove all personal property
including, without limitation, all wallpaper; paneling and other decorative
improvements or fixtures and shall perform all restoration made necessary by
the removal of any alterations or Tenant's personal property before the
expiration of the term, including for example, restoring all wall surfaces
to their condition prior to the commencement of this Lease. Landlord can
elect to retain or dispose of in any manner Xxxxxx's personal property not
removed from the Premises by Tenant prior to the expiration of the term.
Tenant waives all claims against Landlord for any damage to Tenant resulting
from Xxxxxxxx's retention or disposition of Tenants personal property.
Tenant shall be liable to Landlord for Landlord's costs for storage, removal
or disposal of Tenant's personal property.
If Xxxxxx, with Xxxxxxxx's consent, remains in possession of the Premises
after expiration or termination of the term, or after the date in any notice
given by Landlord to Tenant terminating this Lease, such possession by
Tenant shall be deemed to be a month-to-month tenancy terminable on written
30-day notice at any time, by either party. All provisions of this Lease,
except those pertaining to term and rent, shall apply to the month-to-month
tenancy. Tenant shall pay monthly rent in an amount equal to 125% of
Rent for the last full calendar month during the regular term plus 100%
of said last month's estimate of Xxxxxx's share of Expenses pursuant to
Section 4.c3.
26. LANDLORD'S LIEN/STORAGE. As security for payment of rent, damages and all
other payments required to be made by this Lease, Tenant hereby grants to
Landlord a lien upon all property of Tenant now or subsequently located upon
the leased Premises. If Tenant abandons or vacates any substantial portion
of the Lease Premises or is in default in the payment of any rent or
additional rent, damages or other payments required to be made by this Lease
or is in default of any other provision of this Lease, Landlord may enter
upon the leased premises, whether by changing or picking locks, and take
possession pursuant to this Lease of all or any part of the personal
property, and may sell all or any part of the personal property at a public
or private sale, in one or successive sales to the highest bidder all of
Tenant's title and interest in the personal property sold to him.
Any and all property which may be removed from the Premises by Landlord
pursuant to the authority of this Lease or of law, to which Tenant is or may
be entitled, may be handled, removed and stored, as the case may be, by or
at the direction of Landlord at the risk, cost and expanse of Tenant, and
Landlord shall in no event be responsible for the value, preservations or
safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all
expenses incurred in such removal and all storage charges against such
property so long as the same shall be in Landlord's possession or under
Xxxxxxxx's control. Any such property of Tenant not retaken by Tenant from
storage within 30 days after removal from the Premises shall, at Landlord's
option, be deemed conveyed by Tenant to Landlord under this Lease as by a
bill of sale without further payment or credit by Landlord to Tenant.
27. RULES AND REGULATIONS. Tenant will faithfully observe and comply with the
Rules and Regulations printed on or attached to this Lease and Landlord
reserves the right to modify and amend them as it deems necessary. Xxxxxxxx
will not be responsible to Tenant for the nonperformance by any other lessee
or occupant of he Project of any of said Rules and Regulations.
Violation of any such Rules and Regulations shall be deemed a material
breach of this Lease by Xxxxxx.
28. PROJECT PLAN. In the event Landlord requires the Premises for use in
conjunction with another suite or for other reasons connected with the
Project planning program, Landlord, upon notifying Tenant in writing, shall
have the right to move Tenant to space in the Project of which the Premises
forms a part, at Landlord's sole cost and expense (excluding private
telephone systems which Tenant must bear the cost of moving and installing),
and the terms and conditions of the original Lease will remain in full force
and effect excepting that the Premises will now be in a new location.
However, if the new space does not meet with Xxxxxx's approval, Xxxxxx will
have the right to cancel this Lease upon giving Landlord thirty (30) days'
notice within ten (10) days of receipt of Landlord's notification. Should
Tenant elect to cancel the Lease as provided in this paragraph, the
effective expiration date will equal the projected move-in date of the suite
Landlord wishes Tenant to move to as indicated in Xxxxxxxx's written
notification to Tenant.
29. FORCE MAJEURE. Landlord will have no liability to Tenant, nor will Tenant
have any right to terminate this Lease or xxxxx Monthly Rent or Additional
Rent or assert a claim of partial or total actual or constructive eviction,
because of Landlord's failure to perform any of its obligations in the Lease
if the failure is due in part or in full to reasons beyond Landlords
reasonable control, including without limitation, strikes, or other labor
difficulties, inability to obtain necessary governmental permits and
approvals, war, riot, mandatory or prohibitive injunction issued in
connection with the civil insurrection, accidents, acts of God, and
governmental preemption in connection with a national emergency
(collectively referred to as "Force Majeure"). If Landlord, fails to perform
its obligations because of any reasons beyond Landlord's reasonable control
(including those enumerated above), the period for Tenants performance will
be extended day for day for the duration of the cause of Landlord's failure,
except for Tenants obligation to pay Rent as required under the Lease.
30. SECURITY MEASURES. Tenant hereby acknowledges that the rental payable to
Landlord hereunder does not include the cost of guard service or other
security measures, and that Landlord shall have no obligation whatsoever to
provide same. Tenant assumes all responsibility for the protection of the
Premises, Project and Property and all real and all personal property that
it, its agents, and/or its invitees may use, from the acts of third parties.
8
31. PERFORMANCE UNDER PROTEST. If at any time a dispute shall arise as to any
amount or sum of money to be paid by one party to the other under the
provisions hereof, the party against whom the obligation to pay the money
is asserted shall have the right to make payment "under protest" and such
payment, shall not be regarded as a voluntary payment and shall survive
the right on the part of said party to initiate suit or other action for
recovery of such sum. If it shall be adjudged that there was no legal
obligation on the part of said party to pay such sum or any part thereof,
said party shall be entitled to recover such sum or so much thereof as it
was not legally required to pay under the provisions of this Lease.
32. LIMITATION OF LIABILITY. In consideration of the benefits accruing
hereunder, Xxxxxx agrees that, in the event of any actual or alleged
failure, breach or default of this Lease by Landlord, if Landlord is a
partnership:
a. The sole and exclusive remedy shall be against the partnership and its
partnership assets;
b. No partner of Landlord shall be sued or named as a party in any suit or
action (except as may be necessary to secure jurisdiction of the
partnership);
c. No service of process shall be made against any partner of Landlord
(except as may be necessary to secure jurisdiction of the partnership);
d. No partner of Landlord shall be required to answer or otherwise plead
to any service or process;
e. No judgment may be taken against any partner of Landlord;
f. Any judgment taken against any partner of Landlord may be vacated and
set aside at any time without hearing;
g. No writ of execution will ever be levied against the assets of any
partner of Landlord;
h. These covenants and agreements are enforceable both by Landlord and
also by any partner of Landlord.
Tenant agrees that each of the foregoing provisions shall be applicable
to any covenant or agreement either expressly contained in this Lease
or imposed by statute or at common law.
33. MISCELLANEOUS PROVISIONS.
a. Time of Essence. Time is of the essence of each provision of this
Lease.
b. Successor. This Lease shall be binding on and inure to the benefit of
the parties and their successors, except as provided in Section 18
herein.
c. Landlord's Consent. Any consent required by Landlord under this Lease
must be granted in writing and may be withheld by Landlord in its sole
and absolute discretion.
d. Commissions. Each party represents that it has not had dealings with
any real estate broker, finder or other person with respect to this
Lease in any manner, except for the broker identified in Section 1, who
shall be compensated by Landlord.
e. Other Charges. If Landlord becomes a party to any litigation concerning
this Lease, the Premises or the Project, by reason of any act or
omission of Tenant or Tenant's authorized representatives, Tenant shall
be liable to Landlord for reasonable attorneys' fees and court costs
incurred by Landlord in the litigation whether or not such litigation
leads to actual court action. Should the court render a decision which
is thereafter appealed by any part thereto, Tenant shall be liable to
Landlord for reasonable attorneys' fees and court costs incurred by
Landlord in connection with such appeal.
If either party commences any litigation against the other party or
files an appeal of a decision arising out of or in connection with this
Lease, the prevailing party shall be entitled to recover from the other
party reasonable attorneys' fees and costs of suit. If Landlord employs
a collection agency to recover delinquent charges, Xxxxxx agrees to pay
all collection agency and attorneys' fees charged to Landlord in
addition to rent late charges, interest and other sums payable under
this Lease. Tenant shall pay a charge of $75 to Landlord for
preparation of a demand for delinquent rent.
f. Authority. If either party hereto is a corporation, trust, or general
or limited partnership, each individual executing this lease on behalf
of such entity represents and warrants that he or she is duly
authorized to execute and deliver this Lease on its behalf. If Tenant
is a corporation, trust or partnership, Tenant shall, within thirty
(30) days after request by Xxxxxxxx, deliver to Landlord evidence
satisfactory to Landlord of such authority.
g. Offer. Any preparation of this document by Landlord or Landlord's agent
and submission of same to Tenant shall not be deemed to be a proposal,
offer or contract to lease to Tenant. This document cannot be
unilaterally accepted by Tenant and thereby made binding upon
Landlord. This document is not binding on any party and has no force
or effect until executed by all parties hereto.
h. Xxxxxxxx's Successors. In the event of a sale or conveyance by Landlord
of the Project, the same shall operate to release Landlord from any
liability under this Lease, and in such event Landlord's successor in
interest shall be solely responsible for all obligations of Landlord
under this lease.
i. Interpretation. This Lease shall be construed and interpreted in
accordance with the laws of the state in which the premises are
located. This Lease constitutes the entire agreement between the
parties with respect to the Premises and the Project, except for such
guarantees or modifications as may be executed in writing by the
parties from time to time. When required by the context of this
Lease, the singular shall include the plural, and the masculine shall
include the feminine and/or neuter. "Party" shall mean Landlord or
Tenant. If more than one person or entity constitutes Landlord or
Tenant, the obligations imposed upon that party shall be joint and
several. The enforceability, invalidity or illegality of any
provision shall not render the other provisions unenforceable,
invalid or illegal.
9
Landlord: EAGLE-DFW CORPORATE PARK, Tenant: XXXXX BROS. ELECTRONICS,
L.P. dba: DFW Corporate Park, INC., A NEW JERSEY
Eagle-DFW, Inc., it's General CORPORATION
Partner
By:---------------------------------- By:----------------------------
Xxxxxxx X. Xxxxxxxx Xxx Xxxxx
Title: President Title: President
Date: -------------------------------- Date:-------------------------
[FLOOR PLAN]
EXHIBIT "A1"
0000 Xxx. 000
Xxxxx 0000
Xxxxx Xxxxxxx, Xx. 00000
APPROX. 3500 S.F.
EXHIBIT "B"
DFW CORPORATE PARK
0000 X. XXX 000
XXXXX XXXXXXX, XXXXX 00000
The description of Tract I, a 16.181 acre tract of land out of the unplatted
G.S.C. Development Corporation Properties in the City of Grand Prairie, Tarrant
County, Texas, being situated in the X. Xxxxx Survey, Abstract No. 110 and the
X. Xxxxxxx Survey, Abstract No. 589, and being more particularly described as
follows:
COMMENCING at the north line of Carrier Parkway (100 foot R.O.W.) and the west
line of Lead Tract No. 1 (50 foot R.O.W.);
THENCE West along the north line of said Carrier Parkway for a distance of
500.00 feel to a 1/2 inch iron rod, being the POINT OF BEGINNING; said point
also being the southwest corner of an 11.40 acre tract of land as recorded in
Volume 6277, Page 364, Deed Records of Tarrant County, Texas.
THENCE continuing West along the north line of said Carrier Parkway for a
distance of 707.95 feet to a 1 inch iron rod for corner;
THENCE North 39 degrees, 14 feet 00 minutes West for a distance of 126.46 feet
to a 3/4 inch iron rod for corner, sat point being the cast line of State
Highway 360 (R.O.W. varies);
THENCE North 10 degrees, 57 feet 00 minutes East along the cast line of said
State Highway 360 for a distance of 747.96 feet to a 3/4 inch iron rod;
THENCE North 12 degrees, 23 feet 00 minutes East a distance of 95.45 feet to a
3/4 inch iron rod;
THENCE North 13 degrees, 50 feel 33 minutes East continuing along the cast line
of said State Highway 360 for a distance of 76.71 feet to a 1/2 inch iron rod
for corner;
THENCE East for a distance of 607.03 feet to a 1/2 inch iron rod for corner;
said point also being the northwest corner of said 11.48 acre tract; '
THENCE South along the west line of said 11.48 acre tract for a distance of
1000.00 feet to the POINT OF BEGINNING.
CONTAINING 704,860.47 square feet of 16.181 acres of land.
[MAP]
EXHIBIT "C"
SIGN CRITERIA
1. Sign Criteria
This criteria establishes the uniform policies for all Tenant sign
identification within Corporate Park. This criteria has been established
for. the purpose of maintaining the overall appearance of the Park.
Conformance will be strictly enforced. Any sign installed that does not
conform to the criteria will be brought into conformity at the expense of
the Tenant.
A. General Requirements
1. A drawing of the size and shape of the approved signage is
shown below. Lettering and installation shall be paid for
by the Tenant.
2. Landlord shall approve all copy and/or logo design prior to the
installation of the sign.
3. Landlord shall direct the placement of all Tenant signs and the
method of attachment to the building.
4. Tenant shall be responsible for the fulfillment of all
requirements for this criteria.
B. General Specifications
1. The sign's dimensions shall be 18" high by 60" long.
2. Tenant shall be allowed one sign of the nature described
in B-1 for each full module leased.
3. All sign lettering shall be no larger than 3 1/2" and will be
white in color. (No other color shall be allowed without
Xxxxxxxx's consent.) Use of the Tenant's individual company
logo or insignia on any sign visible to public view shall be
at the sole discretion of the Landlord and authorization must
be obtained in writing.
4. No electrical or audible signs will be allowed.
5. Upon removal of any sign, any damage to the building will be
repaired by Xxxxxx.
6. Except as provided herein, no advertising placards, banners,
pennants, names, insignias, trademarks, or other descriptive
material shall be affixed or maintained upon any automated
machine, glass panes of the building, landscaped areas,
streets, or parking areas.
[ART]
TENANT SIGN EXAMPLE
'TOTAL SIGN WIDTH
IMAGE AREA MAXIMUM LETTER HEIGHT
*Signage to remain after Tenant moveout.
Lessee shall pay the sum of $75.00 in total payment for sign
identification.
EXHIBIT "D"
DFW CORPORATE PARK
RULES AND REGULATIONS
1) SIGNS/WINDOWS: All Tenant identification signs shall be provided at the
expense of Tenant. No sign, placard, picture, advertisement, name or
notice shall be attached to any part of the outside of any building and
if so placed, Landlord shall have the right to remove any such sign,
placard, picture, advertisement, name or notice at Tenant's expense.
Tenant shall not place nor allow anything to be placed near the glass of
any window, door, partition or wall which may appear unsightly from
outside the leased premises, nor conflict with the above. Landlord will
provide a standard drape, blind or window covering that shall not be
altered or removed by Tenant. Tenant is responsible to keep windows
washed, inside and/or out. No awning or shade shall be affixed or
installed over or in the windows or the exterior of the premises.
2) COMMON AREA/ROOF: The sidewalks, entrances and exits, hall passages and
stairways, if any, shall not be obstructed or used by Tenant for any
purpose other than for ingress and egress. The hall passages, exits,
entrances, stairways and roofs are not for the use of the general public
and Landlord shall in all cases retain the right to control and prevent
access thereto by all persons whose presence in the judgement of the
Landlord shall be prejudicial to the safety, character, reputation and
interests of the premises and tenants, provided that nothing herein
contained shall be construed to prevent such access to persons with whom
Tenant normally deals in the ordinary course of Tenant's business unless
such persons are engaged in illegal activities. Neither Tenant nor
employees or invitees of Tenant shall go upon the roof of any building.
3) ADVERTISING: Tenant shall not use the name of the building in connection
with or in promoting or advertising the business of Tenant except as to
Tenant's address. Landlord shall have the right to prohibit the use of
the name of the projects or other publicity by Xxxxxx which in
Xxxxxxxx's opinion tends to impair the reputation of the project or its
desirability for the other Tenants. Tenants will refrain from or
discontinue such publicity upon notification by Xxxxxxxx.
4) LOCKS: No additional locks or bolts shall be placed upon any of the
doors or windows by Tenant, nor shall any changes be made in existing
locks or the mechanisms thereof. Tenant must upon the termination of
Xxxxxx's tenancy, return to Landlord all keys either furnished to or
otherwise procured by Xxxxxx. In the event of the loss of any keys so
furnished, Tenant shall pay to Landlord the cost thereof.
5) SOLICITATIONS: Tenant shall not disturb, solicit or canvass any occupant
of the project and shall cooperate to prevent the same.
6) USE OF PREMISES: The leased premises shall not be used for lodging,
sleeping or cooking or for any immoral or illegal purpose or for any
purpose that will damage the premises or the reputation thereof or for
any purpose other than that specified in the lease covering the
premises.
7) PARKING: The parking areas within the office park complex shall be used
solely for the parking of passenger vehicles during normal office hours.
The parking of trucks, trailers, recreational vehicles and campers is
specifically prohibited. No vehicle of any type shall be stored in the
parking areas at any time. In the event that a vehicle is disabled, it
shall be removed within 48 hours. There shall be no "For Sale" or other
advertising signs on or about any parked vehicle. All vehicles shall be
parked in the designated parking areas in conformation with all signs
and other markings. No parking is permitted on public streets adjacent
to the complex.
8) NUISANCES: Tenant shall not use, keep or permit to be used or kept, any
foul or noxious gas or substance in the premises, or permit or suffer,
the premises to be occupied or used in a manner offensive or
objectionable to Landlord or other occupants of the building by reason
of noise, odors and/or vibrations, or interfere in any way with other
Tenants or those having business therein nor shall any animals or birds
be brought in or kept in or about the premises of the project. Tenant
shall maintain the leased premises free from mice, bugs, and ants
attracted by food, water or storage materials. Landlord is responsible
for maintaining the outside area.
9) DANGEROUS ARTICLES: Tenant shall not use or keep on the premises of the
complex any kerosene, gasoline or inflammable or combustible fluid or
material, or any article deemed extra hazardous on account of fire or
other dangerous properties or use any other method of heating or air
conditioning other than supplied by Landlord.
10) IMPROPER CONDUCT: Landlord reserves the right to exclude or expel from
the complex any person who in the judgement of the Landlord, is
intoxicated or under the influence of liquor or drugs or who shall in
any manner do any act in violation of the Rules & Regulations of the
said project.
11) WIRING: No electric wires, or any other electrical apparatus, or
additional electrical outlets, shall be installed except with written
request to and written approval from Landlord. Any installation of
above wiring shall be removed by Landlord at Tenant's expense. Landlord
reserves the right to enter upon the leased premises for the purpose of
installing additional electrical wiring and other utilities for the
benefit of the Tenant or adjoining tenant. Xxxxxxxx will direct
electricians as to where and how telephones and telegraph wires are to
be introduced. The location of telephones, call boxes and other
equipment affixed to the premises shall be subject to the approval of
Lessor.
12) AUCTION: No auction, public or private, will be permitted.
13) EXTERIOR: Tenant shall not place any improvements or moveable objects
including antennae, outside furniture, etc. in the parking areas,
landscaped area or other areas outside of the leased premises, or on the
roof of any building.
14) SECURITY PRECAUTIONS: All entrance doors in the complex shall be closed
and securely locked when the premises are not in use and all doors
opening to public corridors shall be kept closed except for normal
ingress and egress. Tenant must observe strict care and caution that all
water faucets or any other apparatus is shut off before Tenant or
Tenant's employees leave the premises and that all electricity, gas,
etc. shall likewise be carefully shut off so as to prevent waste or
damage.
15) RESTROOM FACILITIES: The washrooms and restrooms and appurtenances
thereto shall not be used for any other use than those for which they
were constructed. No sweeping, rubbish, rags or other foreign substances
shall be thrown or placed therein. No person shall waste water by
interfering or tampering with the faucets. Any damage resulting in soiled
washrooms or restrooms or appurtenances shall be paid for by the Tenant
who, or whose agents, guests, or employees, shall cause such damage.
16) DAMAGE: Walls, floors and ceilings shall not be defaced in any way and
no one shall be permitted to mark, nail screw or drill into surfaces,
paint or in any way mar the building surface. Pictures, certificates,
licenses and similar items normally used in Tenant's premises may be
carefully attached to the walls by Tenant in a manner to be prescribed
by Landlord. Upon removal of such items by Tenant, any damage to the
walls or other surfaces shall be repaired by Tenant.
17) FURNITURE, SAFES/MOVING: Furniture, freight, equipment, safes or other
bulky articles shall be moved into or out of the complex only in the
manner and at such times as Landlord may direct. Tenant shall not
overload the floor of the premises or in any way deface the premises or
any part thereof. Landlord shall in all cases have the right to
determined or limit the weight, size and position of all safes and other
heavy equipment. Landlord will not be responsible for loss or damage to
any safe or other property of Lessee from any cause. All damage done to
the building or complex by moving or maintaining any such safe or other
property shall be repaired at the expense of Tenant.
18) JANITORIAL SERVICE: Tenant shall not cause any unnecessary labor by
reason of Xxxxxx's carelessness or indifference in the preservation of
good order and cleanliness. Landlord shall not be responsible to Tenant
for any loss of property on the premises, however occurring or for any
damage done to the effect of Tenant by the janitor of any other employee
or any other person.
19) REQUIREMENTS OF LESSEE: Employees of Landlord shall not perform any work
or do anything outside of their regular duties unless under special
instruction from Landlord. Tenant shall give Landlord prompt notice of
any defects in the water, sewage, gas pipes, electrical lights and
fixtures, heating apparatus, or any other service equipment.
20) RULES AND REGULATIONS: Rules may be, modified, amended or supplemented
at any time by Landlord upon written notice to Tenant.
EXHIBIT "E"
A. AGREEMENT
A.1 Lessor and Xxxxxx agree to the construction of improvements in the Premises
according to the terms and conditions of the Lease, Exhibit "B", and this
EXHIBIT "E".
A.2 Lessor will provide Lessee with final detailed plans and specifications of
all proposed improvements on or before
N/A
----------------------------------------------------------------.
A.3 Lessee will return to Lessor a copy of said final detailed plans and
specifications EXHIBIT "E" approved by Lessee on or before
N/A
-----------------------------------------------------------------.
A.4 Any changes required by Lessee to final plans and specifications previously
approved by both Lessor and Lessee, shall be approved by Lessor at its sole
discretion.
A.5 Lessor will complete all final proposed improvements to the best of its
ability on or before February 28th, 1998
---------------------------------------.
B. LESSEE PAID IMPROVEMENTS
B.1 Lessee at its sole cost and expense will pay for the following
improvements:
N/A
X. XXXXXX PAID IMPROVEMENTS
C.1 Lessor at its sole cost and expense will pay for the following improvements
to the premises:
1) Shampoo carpet
2) Touch up paint in office portions of suite
END OF IMPROVEMENTS
