LEASE
THIS LEASE is made this 16 day of SEPTEMBER, 1997, by and between Xxxxxxx
Xxxxxxxx (hereinafter called "Lessor") and TRISTAR AEROSPACE, INC.
(hereinafter called "Lessee").
WITNESSETH
1. LEASED PREMISES
A. In consideration of the rents hereinafter reserved and of the
covenants, agreements and conditions hereinafter contained on the part of the
Lessee to be paid, observed and performed, the Lessor does hereby demise and
lease the following described premises (hereinafter called the "Leased
Premises") located in the State of Oklahoma and more particularly described
as that portion of that certain building located at 00000 X. XXXX XX., XXXXX,
XXXXXXXX 00000-0000 (hereinafter called the "Building"), containing
approximately 3,588 square feet of office space as shown on the plan attached
hereto and made a part hereof as Exhibit "A" and located on the real estate
legally described in Exhibit "B" attached hereto and made a part hereof (such
real estate is hereinafter called the "Property" and the Building, and the
other improvements situated on the Property are herein called the "Center"),
subject to liens, covenants, easements, agreements and restrictions of record.
B. Lessee shall have the right to use, in common with the other
tenants of the Center, certain Common Areas as that term is defined in
Section 2 hereof, on the terms and conditions set forth herein.
2. COMMON AREAS
A. Subject to the terms and conditions of the Lease and such rules and
regulations as Lessor may from time to time impose in writing, Lessee and
Lessee's employees, agents, invites, customers and contractors shall, in
common with Lessor and the occupants of the Center and their respective
employees, agents, invites, customers and contractors and others entitled to
the use thereof have the right to use the access roads and parking areas
located on the Land (unless such parking areas are specifically designated by
Lessor for use by a particular tenant) and those facilities provided and
designated by Lessor for the general use and convenience of the tenants of
the Center, which roads, areas and facilities as they may from time to time
exist are referred to herein as "Common Areas". Lessor reserves the right
from time to time to increase or decrease the number of roads, areas and
facilities comprising the Common Areas and to make changes in the shape,
size, location and extent thereof provided that such changes will not affect
Lessee's use of the Leased Premises in a materially adverse manner.
X. Xxxxxx shall, throughout the term of this Lease, including any
extensions and renewals thereof, operate, manage and maintain all Common Areas
within the Center. The manner in which such areas shall be maintained and the
amount and nature of the expenditures to be made for such maintenance shall
be determined at the sole discretion of Lessor.
X. Xxxxxx shall have the right to close all or any portion of the
Common Areas to the extent as may be legally sufficient to prevent a
dedication thereof or the accrual of rights of any person or the public
therein, provided, however, that Lessor shall restrict the period of any such
closing to the minimum time necessary under applicable law to prevent such
dedication and accrual of rights.
D. Lessee shall not at any time park or permit the parking of Lessee's
trucks or other vehicles, or the trucks or other vehicles of Lessee's
suppliers or any others, adjacent to loading areas so as to interfere in any
way with the use of such areas by other tenants, nor shall Lessee at any time
permit the parking of Lessee's trucks, or the trucks of Lessee's suppliers,
or others in any portion of the parking lot not designated by Lessor for such
use by Lessee.
E. Lessee shall not at any time operate, nor shall it permit its
employees, agents, invites, customers or contractors to operate any truck or
other vehicle in such manner as to directly or indirectly damage any portion
of the
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Center, including damage to the Center caused by excessive wear and tear of
the improved portions of the Common Areas.
X. Xxxxxx reserves the right to promulgate such reasonable rules and
regulations relating to the use of the Common Areas, and part or parts
thereof, as Lessor may deem appropriate. The rules and regulations shall be
binding upon Lessee seven (7) days after delivery of a copy thereof to
Lessee, and Lessee agrees to abide by such rules and regulations and to
cooperate in their observance. The rules and regulations may be amended by
Lessor from time to time, with or without advance notice to Lessee, and all
amendments shall be effective seven (7) days after delivery of a copy thereof
to Lessee. Any such changes shall not have a material adverse effect on
lessee's operations.
3. TERM
A. This Lease shall be for a term of 2 years, 0 month(s) and shall
commence on DECEMBER 1, 1997 (hereinafter called the "Leased Commencement
Date") and shall be terminated on NOVEMBER 30, 1999 (both dates inclusive,
unless sooner terminated as hereinafter provided (hereinafter sometimes
called the "Term").
4. USE OF LEASED PREMISES
A. Subject to the conditions contained herein, the Leased Premises may
be used and occupied by the Lessee during the Term hereof and any option or
renewal periods contained herein which are validly exercised, for the
following purposes (and for no other purpose whatsoever without Lessor's prior
written consent): GENERAL OFFICE OPERATIONS AND SERVICES.
B. Lessee shall not do or permit to be done in or about the Leased
Premises anything which is (a) contrary to law, zoning regulations, recorded
restrictions, applicable local rules and regulations, or (b) is, in the
opinion of Lessor, of a hazardous or dangerous nature, or (c) will increase
the rates or cause a cancellation of any insurance policies maintained on the
Center by Lessor or Lessee. Lessee shall not obstruct or interfere with the
rights of other tenants or occupants of the Building or their customers and
invites, nor shall it engage in any activities that in the opinion of Lessor
might constitute a source of annoyance thereto.
5. POSSESSION AND OCCUPANCY
A. By occupying the Leased Premises or taking possession thereof
Lessee (1) accepts said Premises as suitable for the purposes and uses
intended therefore by Lessee, (ii) accepts the Building and each and every
appurtenance thereof and (iii) conclusively waives any and all defects in or
to the Leased Premises, Building and Center.
B. If Lessee occupies the Leased Premises prior to the Lease
Commencement Date with Lessor's written consent, ail of the provisions of this
Lease shall be in full force and effect as of the date the Lessee occupies
the Leased Premises. Rent for any period prior to the Lease Commencement Date
shall be fixed by written agreement of the Lessor and Lessee or, in the
absence of such agreement, at the monthly Rent set forth in Section 6 below.
6. RENT
A. Lessee shall, without deduction, abatement or set off of any kind
or nature whatsoever, pay to Lessor at:
Xxxxxxx Xxxxxxxx
00000 X. Xxxx Xx., Xxxxx #000
Xxxxx, XX. 00000-0000
or at such other place as Lessor may designate from time to time in writing,
monthly Base Rent the amount of $2,541.50 payable in advance on the first day
of each and every calendar month during the term of the lease. Such rent
shall be subject to adjustments for year two as follows and cost of living
adjustments in the beginning of years three, four and five as follows:
(1) RENTAL ADJUSTMENT. For the first two- (2) year(s), base rent shall be
as set forth in 6A above. For the option years following the second (2)
year, the base rent shall be increased by the percentage of increase, if
any, in the Consumer Price Index -- U.S. Average -- All Urban Consumers
(1982-84 = 100), as published by the U.S. Department of Labor's Bureau of
Labor Statistics for the first month of each of such successive periods
over the
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base period. If said index shall cease to be published, the parties
shall use the most comparable index published by the U.S. Government.
If the parties shall be unable to agree on a successor index, the
parties shall refer the choice of successor index to arbitration in
accordance with the rules of the American Arbitration Association. The
base period, for purposes of such adjustment, shall be the month of
the year in which this Lease is executed. (By way of illustration
only, if the base period Index figure for the month in which this
Lease is executed is 200, and the Index for the first month of the
first successive period is 210, then the Minimum Rent for such ensuing
period shall be increased by 5 percent).
The above Base Rent shall include charges for utilities, gas, water, electric
services and janitorial services in the demised office space. If the term
commences or ends other than on the first day of a month, then the Base Rent
for such month shall be prorated based upon a thirty (30) day month for such
fractional period and paid promptly to the Lessor. The obligation of Lessee
to pay Base Rent hereunder shall be deemed an independent covenant of Lessee.
B. All payments to Lessor due under this Lease shall, if not received
by the tenth (10th) day of the month in which said payment is due, bear
interest from the due date until received by Lessor at maximum lawful rate
allowed by the State of Oklahoma. Lessor's right to receive interest shall
not in any way limit any other remedies available to Lessor under this Lease
or at law or equity in the event of a default by Lessee hereunder.
C. In addition to the aforementioned Base Rent, Lessee shall reimburse
Lessor for Lessee's prorated share of maintenance related to the removal of
ice and/or snow from the common area walkways and automobile parking areas.
Prorated share of maintenance will be based on Lessee's percentage of the
entire net rentable space.
D. Lessee shall have two (2) option(s) to extend the terms of this
Lease for a period of two (2) year(s) each from and after the termination
hereof under the some terms and conditions herein, except as to Base Rent,
and as to the options provided that the following conditions are fulfilled:
(1) That one hundred eighty (180) days prior to the termination of the
original term of the Lease or the expiration of the first option period, the
Lessee gives Lessor written notice of Lessee's intention to exercise the
option; and
(2) That at the time of such written notices Lessee is not in default;
and
(3) Base Rent for each year of the option period(s) shall be increased,
by the percentage increase, if any in the United States Consumer Price Index
for All Urban Consumers (CPI) as stipulated in paragraph 6A(1).
7. SECURITY DEPOSIT
A. Lessee has deposited with Lessor the sum of TWO THOUSAND FIVE
HUNDRED FORTY-ONE AND 50/100 ----DOLLARS ($2,541.50) upon the execution of
this Lease (the "Security Deposit"). Said sum shall be held by Lessor as
security for the faithful performance by Lessee of all of the obligations
under this Lease. The Security Deposit shall not be assigned, transferred or
encumbered by Lessee and any attempt to do so by Lessee shall be void and
unenforceable and shall not be binding upon Lessor.
B. If Lessee defaults with respect to any provision of this Lease or
Lessor makes any payment on behalf of Lessee which Lessee is required to make
under the terms of this Lease, Lessor may (but shall not be required to) use,
apply, or retain all or any part of the Security Deposit for the payment of
any Rent or any other sum in default, or for the payment of any other amount
which Lessor may spend or become obligated to spend by reason of Lessee's
default, or to compensate Lessor for any other loss or damage which Lessor
has suffered or may suffer by reason Lessee's acts or default. If any portion
of the Security Deposit is so used, applied or retained, Lessee shall
forthwith, upon Lessor's demand, deposit cash with Lessor in an amount
sufficient to restore the Security Deposit to its original amount, Lessee's
failure to so restore the Security Deposit within ten (10) days after receipt
of such demand shall constitute an Event of Default (as such term is
hereinafter defined).
X. Xxxxxx shall not be required to keep the Security Deposit separate
from its general fund unless so required by
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law. In no event shall Lessor be deemed a trustee of the Security Deposit.
Lessee shall not be entitled to any interest on the Security Deposit.
D. If Lessee shall have fully and faithful performed all of its
obligations under the Lease, the Security Deposit or the then remaining
balance thereof shall be refunded to Lessee within twenty (20) business days
after the termination of this Lease. In the event Lessor's interest in this
Lease is sold, transferred or otherwise terminated, Lessor shall transfer
said deposit (or the remaining balance thereof) to its successor in interest
and thereupon Lessor shall be discharged from any further liability with
respect thereto. The provisions of the preceding sentence shall likewise
apply to any subsequent transferor.
8. ASSIGNMENT AND SUBLETTING
Lessee shall not assign this Lease or sublet any portion of the Premises
without prior written consent of the Lessor, which shall not be unreasonably
withheld, and which in no case shall be withheld by Lessor in the case of
assignment to an entity which continues Lessee's business operations pursuant
to a sale of Lessee or Lessee's assets to another entity. Any such assignment
or subletting without consent shall be void and, at the option of the Lessor,
may terminate this Lease. Notwithstanding the foregoing, Lessee may assign
this lease to any purchaser of substantially all of its operations, whether
by sale of assets, sale of stock, or merger, and upon the assumption of
liability under this lease by such purchaser, Lessee shall not be released
from all liability under this Lease.
9. ORDINANCE AND STATUTES
Lessee shall comply with all statutes, ordinances and requirements of
all municipal, state and federal authorities now in force, or which may
hereafter be in force, pertaining to the Leased Premises, occasioned by or
affecting the use thereof by Lessee. The commencement or pendency of any
state or federal court abatement proceeding affecting the use of the Leased
Premises shall, at the option of the Lessor, be deemed a breach hereof.
10. MAINTENANCE, REPAIRS, ALTERATIONS
Lessee acknowledges that the Leased Premises are in good order and
repair, unless otherwise indicated herein. If Lessee damages any of the
heating and air conditioning systems, electrical systems, pluming systems and
other building systems, fixtures, foundations, exterior and interior walls,
roofs, windows, doors, plate glass, floors and sprinkler systems, Lessee
shall, at his sole cost and expense, repair such damage. Lessee shall
surrender the Leased Premises at termination hereof in as good condition as
received, normal wear and tear excepted. Lessee acknowledges that he has
inspected the Premises and that Lessee is not relying on any representations
or warranties made by Lessor, or Lessor's agents, regarding the Leased
Premises except as expressly set forth herein. Any repairs or maintenance
shall be performed in a workmanlike manner by contractors approved by Lessor
pursuant to the specifications provided Lessee by Lessor. Lessor at its sole
cost and expense maintain all heating and air conditioning systems,
electrical systems, plumbing systems, and other building systems, fixtures,
foundations, exterior and interior walls, roofs, windows, doors, plate glass,
floors, and sprinkler systems, if any, in good repair and condition, normal
wear and tear excepted. Lessee's obligations under this Paragraph 10 shall
survive the expiration or other termination of this Lease. Lessor shall
provide general maintenance for all heating and air conditioning systems,
electrical systems, plumbing systems and office lighting, provided there is
no damage by Lessee or any of its agents, employees or invitees.
11. ENTRY AND INSPECTION
Lessee shall permit Lessor or Lessor's agent to enter upon the Leased
Premises at reasonable times and upon reasonable notice, for the purpose of
inspecting the same, and will permit Lessor at any time within sixty (60)
days prior to the expiration of the lease, to place upon the Leased Premises
any usual "To Let" or "For Lease" signs, and permit persons desiring to lease
the same to inspect the Leased Premises thereafter.
12. INDEMNIFICATION OF LESSOR
Lessor shall not be liable for any damage or injury to Lessee, or any
other person, or to any property, occurring on the Leased Premises or any
part thereof and Lessee agrees to hold Lessor harmless from any claims for
damages, no matter how caused, except if caused by gross negligence or
willful acts or omissions of the Lessor.
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13. SIGNS
Lessor reserves the exclusive right to the roof, side and rear walls of
the Leased Premises. Lessee shall not construct any projecting sign or awning
without the prior written consent of Lessor which consent shall not be
unreasonably withheld. Lessee shall reimburse Lessor a total sum of THREE
HUNDRED AND NO/100-- DOLLARS ($300.00) to provide common exterior and
interior directory signs.
14. ABANDONMENT OF PREMISES
Lessee shall not vacate or abandon the Leased Premises at any time during
the term hereof, and if Lessee shall abandon or vacate the premises, or be
dispossessed by process of law, or otherwise, any personal property belonging to
Lessee left upon the Leased Premises shall be deemed to be abandoned, at the
option of Lessor.
15. CONDEMNATION
If any part of the Leased Premises shall be taken or condemned for public
use, and a part thereof remains which is capable of being occupied hereunder,
this lease shall, as to the part taken, terminate as of the date the condemnor
acquires possession, and thereafter Lessee shall be required to pay such
proportion of the rent for the remaining term as the value of the Leased
Premises remaining bears to total value of the Leased Premises at the date of
condemnation; provided however, that Lessor may at his option, terminate this
lease as of the date the condemnor acquires possession. In the event that the
Leased Premises are condemned in whole or that such portion is condemned that
the remainder is not usable as intended hereunder, this lease shall terminate
upon the date upon which the condemnor acquires possession. All sums which may
be payable on account of any condemnation shall belong to the Lessor, and Lessee
shall be entitled to retain any amount awarded to him for his trade fixtures or
moving expenses. If the Building is condemned and the condemnation has a
material adverse affect on the Lessee's use of the Leased Premises then Lessee
has the right to terminate the Lease.
16. TRADE FIXTURES
Any and all improvements made to the Leased Premises during the term hereof
shall belong to the Lessor, except trade fixtures of the Lessee. Lessee may,
upon termination hereof, remove all his trade fixtures, but shall repair or pay
for all repairs necessary for damages to the Leased Premises occasioned by
removal.
17. DESTRUCTION OF LEASED PREMISES
A. In the event of a partial destruction of the Leased Premises during
the term hereof from any cause, Lessor shall forthwith repair the same, provided
that such repairs can be made within (60) days under existing governmental laws
and regulations, but such partial destruction shall not terminate this lease,
except that Lessee shall be entitled to a proportionate reduction of rent while
such repairs shall interfere with the business of Lessee on the Leased Premises.
If such repairs cannot be made within said sixty (60) days. Lessor, at his
option, may make the some within a reasonable time, this lease continuing in
effect with the rent proportionately abated as aforesaid, and in the event the
Lessor shall not elect to make such repairs which cannot be made within sixty
(60) days, this lease may be terminated at the option of either party.
B. In the event that the Building is destroyed to an extent of not less
than one-third of the replacement costs thereof, Lessor may elect to terminate
this lease whether the Leased Premises be insured or not. A total destruction of
the Building shall terminate this lease. If the building is destroyed to an
extent that Lessee's use of the Leased Premises is materially and adversely
affected, then Lessee shall have the right to terminate this Lease.
18. HAZARDOUS MATERIALS
Lessee shall not use, store, or dispose of any hazardous substances upon
the Leased Premises, except use and storage of such substances if they are
customarily used in lessee's business, and such use and storage complies with
all environmental laws. Hazardous substances means any hazardous waste,
substance or toxic materials regulated under any environmental laws or
regulations applicable to the Property. Lessee shall be solely responsible
for proper cleanup and containment of hazardous material spillage. Proper
testing of containment of hazardous material spillage by a certified
laboratory shall be documented with a copy of the documentation being
delivered to Lessor's representative. Lessee shall notify Lessor's
representative immediately of testing for the protection of occupants in the
facility.
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19. INSOLVENCY
In the event a receiver is appointed to take over the business of
Lessee, or in the event Lessee makes a general assignment for the benefit of
creditors, or Lessee takes or suffers any action under any insolvency or
bankruptcy act, the same shall constitute breach of this lease by Lessee.
20. DEFAULT AND REMEDIES OF LESSOR ON DEFAULT.
A. The occurrence of any of the following shall constitute an Event of
Default.
1. The vacation or abandonment of the Leased Premises by Lessee;
2. A failure by Lessee to pay rent, or make any other payment
required to be made by Lessee hereunder, where such failure
continues for ten (10) days after the date such payment was due;
3. A failure by Lessee to observe and perform any of the other
provisions of this lease to be observed or performed by Lessee,
where such failure continues for thirty (30) days after written
notice thereof by Lessor to Lessee; provided, same cannot
reasonably be cured within such thirty (30) day period. Lessee
shall not be deemed to be in default if Lessee shall within such
period commence such cure and thereafter diligently prosecute the
same to completion;
In the event of any such default by Lessee, Lessor may, at any time thereafter
at Lessor's option, and without limiting Lessor to the exercise of any other
right or remedy which Lessor may have at law, in equity or both, with or without
notice or demand.
B. In the event of any "Event of Default" ("Event of Default", and
collectively "Events of Default"), Lessor may, at this option, terminate the
lease and recover from lessee: (a) the worth at the time of award of unpaid
rent which was earned at the time of termination; (b) the worth at the time
of award of the amount by which the unpaid rent which would have been earned
after termination until the time of the award exceeds the amount of such
rental loss that the Lessee proves could have been reasonably avoided; (c)
the worth at the time of award of the amount by which the unpaid rent for the
balance of the term after the time of award exceeds the amount of such rental
loss that the Lessee proves could not be reasonably avoided; (d) the amount
of unamortized tenant improvement costs as more fully described in the
Addendum To Lease which is attached hereto; and (e) any other amount
necessary to compensate Lessor for all detriment proximately caused by
Lessee's failure to perform his obligations under the lease or which in the
ordinary course of things would be likely to result therefrom.
X. Xxxxxx may, in the alternative, continue this lease in effect, as
long as lessor does not terminate Lessee's right to possession, and Lessor
may enforce all his rights and remedies under the lease, including the right
to recover the rent as it becomes due under the lease. If said breach of
lease continues, Lessor may, at any time thereafter, elect to terminate the
lease.
D. Nothing contained herein shall be deemed to limit any other rights
or remedies which Lessor may have.
21. SECURITY
The security deposit set forth above, if any shall secure the
performance of the Lessee's obligations hereunder. Lessor may, but shall not
be obligated to apply all or portions of said deposit on account of Lessee's
obligations hereunder. Lessee shall not have the right to apply the Security
Deposit in payment of the last month's rent
22. DEPOSIT REFUNDS
The balance of all deposits shall be refunded within two leeks from date
possession is delivered to Lessor or his authorized Agent, together with a
statement showing any charges made against such deposits by Lessor.
23. ATTORNEY'S FEES
In the event that Lessor is required to employ an attorney to enforce
the terms and conditions of this agreement or to recover possession of the
premises from Lessee, Lessee shall pay to Lessor a reasonable attorney's fee
whether or not a legal action is filed or a judgment is obtained. In the
event of a legal action, the other party shall pay the attorney's fees and
costs of the prevailing party.
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24. WAIVER
Failure of Lessor to enforce any term hereof shall not be deemed to be a
waiver of any subsequent breach of that or any other obligation hereunder.
25. NOTICES
Any notice which either party may or is required to give, shall be given
by mailing the same, postage prepaid, to Lessee at the premises, or Lessor at
the address shown below, or at such other place any may be designated by the
parties from time to time.
LESSOR:
Xxxxxxx Xxxxxxxx
0000 Xxxxxxxxxxxx Xxxxxxx
Xxxxxxxx, Xxxxxx 00000-0000
with a copy to:
Green Valley Center
Xxx Xxxxx, Building Manager
00000 X. Xxxx Xx., Xxxxx #000
Xxxxx, XX 00000-0000
LESSEE:
TriStar Aerospace, Inc.
Address: 00000 X. XXXX XX., XXXXX #00
-------------------------------------
City, state & zip code: XXXXX, XX. 00000
----------------------
With a copy to:
TriStar Aerospace, Inc.
Mr. Xxxxx Xxxxxx, Vice President
Address: 00000 X. XXXX XX.
-------------------------------------
City, state & zip code: XXXXX, XX 00000
----------------------
26. HOLDING OVER
Any holding over after the expiration of this lease, with the consent of
Lessor, shall be construed as a month-to-month tenancy.
27. TIME
Time is of the essence of this lease.
28. HEIRS, ASSIGNS, SUCCESSORS
This lease is binding upon and insures to the benefit of the heirs,
assigns and successors in interest to the parties.
29. OMITT
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30. ESTOPPEL CERTIFICATE
A. Lessee shall at any time upon not less than fifteen (15) days prior
written notice from Lessor execute, acknowledge and deliver to Lessor a
statement in writing (1) certifying that this Lease is unmodified and in full
force and effect (or, if modified, stating the nature of such modification
and certifying that this Lease, as so modified, is in full force and effect),
the amount of any security deposit, and the date to which the rent and other
charges are paid in advance, if any, and (2) acknowledging that there are
not, to Lessee's knowledge, any uncured defaults on the part of Lessor
hereunder, or specifying such defaults if any are claimed. Any such statement
may be conclusively relied upon by any prospective purchaser or encumbrancer
to the Premises.
B. At Lessor's option, Lessee's failure to deliver such statement
within such time shall be a material breach of this Lease or shall be
conclusive upon Lessee (1) that this Lease is in full force and effect,
without modification except as may be represented by Lessor, (2) that there
are no uncured defaults in lessor's performance, and (3) that not more than
one month's rent has been paid in advance or such failure may be considered
by Lessor as a default by Lessee under this lease.
C. If Lessor desires to finance, refinance, or sell the Premises, or
any part thereof, Lessee hereby agrees to deliver to any lender or purchaser
designated by Lessor such financial statements of Lessee as may be reasonably
required by such lender or purchaser. Such statements shall include the past
three-year's financial statements of Lessee. All such financial statements
shall be received by Lessor and such lender or purchaser in confidence and
shall be used only for the purposes herein set fourth.
31. INSURANCE
A. Liability Insurance; Business Interruption Insurance. Lessee will
procure at its own expense and keep in force during the entire term of this
Lease: (1) a policy of comprehensive general liability insurance (Owners',
Lessors' and Lessees' Public Liability Insurance) with minimum limits of not
less than FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000.00) for injury
to one person and not less than ONE MILLION AND NO/100 DOLLARS
($1,000,000.00) for injury to more than one person arising out of one
occurrence; (ii) a policy in the sum of not less than ONE HUNDRED THOUSAND
AND NO/100 DOLLARS ($100,000.00) insuring claims of third persons for
property damage; and (iii) a policy of business interruption (use and
occupancy) insurance insuring that the rent received hereunder shall be paid
to Lessor for a period of up to one (1) year if the Premises are destroyed or
rendered inaccessible by a risk insured against by a policy of standard fire
and extended coverage insurance with vandalism and malicious mischief
endorsements. Said policy or policies shall be with an insurance company or
companies authorized to do business in the State of Oklahoma, shall name
Lessor as an additional insured, and shall cover the entire demised premises
and the areas appurtenant thereto, including the sidewalks upon which the
demised Premises abut; and a current certificate of said policy or policies
shall be deposited with Lessor. The limits of said policies shall be
increased from time to time with due regard to prevailing prudent business
practices and as reasonably adequate for Lessor's protection. Said insurance
shall contain a provision that it will not be canceled without giving Lessor
thirty (30) days' written notice prior to the effective date of the proposed
cancellation.
B. FIRE INSURANCE. Lessee shall, during the entire term hereof keep
in full force and effect a policy of fire insurance, sprinkler leakage
coverage, including standard extended coverage, in sufficient insurance
amounts to cover Lessee's portion of the total gross leasable area and
including all goods, wares, merchandise, furniture, fixtures, supplies and
other personal property located, stored or placed in or on the premises.
C. LESSEE'S LIABILITY FOR INCREASED FIRE INSURANCE. Lessee agrees that
it will not keep, use, sell or offer for sale in or upon the said premises
any article, or perform any services, which may be prohibited by the standard
form of fire insurance policy. Lessee agrees to pay as additional rental any
increase in premiums for fire and extended coverage
8
insurance that may be charged during the term of this Lease on the amount of
such insurance to be carried by Lessor on said premises or the building of
which they are a part, resulting from the type of merchandise or services
sold or performed in the premises by Lessee, whether or not Lessor has
consented to the same.
32. ENTIRE AGREEMENT
The foregoing constitutes the entire agreement between the parties and may
be modified only by a writing signed by both parties. The following lettered
Exhibits are attached hereto and made a part hereof.
EXHIBIT A -- LEASED PREMISES
EXHIBIT B -- LEGAL DESCRIPTION
ADDENDUM
TRISTAR AEROSPACE, INC. - LESSEE:
Dated:
-------------------------------------------------------
Leassee:
-------------------------------------------------------
Signature: /s/ XXXXX XXXXXX
---------------------------------------------------
Its Xxxxx Xxxxxx, Vice-president - Administration
Xxxxxxx Xxxxxxxx - XXXXXX:
Dated:
-------------------------------------------------------
Lessor: /s/ Xxxxxxx Xxxxxxxx
-------------------------------------------------------
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ADDENDUM TO LEASE
1. Lessor shall provide the following:
1. Install East and West demising walls adjacent to corridors to
meet City of Tulsa Building Codes.
2. Repaint demised office walls, (Color- Winterbird satin white).
3. Refurbish existing ceiling tiles and air conditioning defusers.
4. Install two approximate 3' x 9' wood doors with 2' x 9'
sidelights. One in the East and one in the West demising wall.
5. Install two approximate 4' x 9' sidelights in West demising wall.
6. Install one approximate 3' x 7' wood door and metal frame between
suite 68 and 73.
7. Install one approximate 5' x 7' sliding pocket door between suite
68 and 70.
8. Install approximately six electrical power poles to accommodate
workstations and relocate light switches to West entrance.
9. Carpet shall be cleaned before occupancy and cleaned in the
evening after move-in date.
2. Lessor will ensure a minimum of thirty-five parking spaces is available to
the Lessee at the Green Valley Center location throughout the term of this
lease. This parking will be allocated for the TriStar employees, customers, and
invitees that are conducting business in the Green Valley Center.
3. Every attempt by Lessor will be made to complete this build-out by Lessee's
requested date of November 1, 1997. Or prior to December 1, 1997 as note in the
lease agreement. However, because of material ordering and city of Tulsa permit
requirement Lessor requires a possible sixty-day construction period from the
date this lease is consummated.
4. Lessee shall provide the following at Lessee's expense:
1. Underground installation of data and phone cabling from Lessee
offices located at Xxxxxxx M East of Green Valley Center. This
installation shall meet all local governmental codes. Cable shall
enter the Northeast corner of the Green Valley Center at the rail
spur entrance and continue to the South to the main phone cabling
office located near the main lobby of the Green Valley Center.
Cabling shall than be loop over to the demised space of Lessee.
5. Lessee shall peaceably and quietly hold and enjoy the Leased Premises for
the term hereof without hindrance from Lessor or any other person, subject
to the terms and conditions of this lease, provided that Lessee has
performed all of the terms, covenants, agreements, and conditions of this
lease.
6. Upon exercising this lease for one-year, Lessee must give Lessor a written
ninety- (90) day notice to terminate this lease agreement. Should Lessee
default or terminate the lease agreement before exercising Lessee's option
as stated in Section 6.D., Lessee agrees to reimburse Lessor based on the
following:
1. After one-year should Lessee give a written notice, and no option is
exercised, a penalty shall be assessed and the Lessee shall reimburse
Lessor $ 1,167.00 per month for each month not exercised for the full
term of the base lease period. (i.e. Should the one-year anniversary
of this lease fall on January 1, 1999 and Lessee gives Lessor a
written notice of ninety (90) days. Than Lessee shall vacate the
Leased Premises by March 30, 1999 and a penalty of nine months
amortized tenant improvement cost shall be assessed.
9 months x $ 1,167.00 tenant improvement cost = $ 10,503.00. Assessed
penalty to Lessor $ 10,503.00.)
2. If this agreement is exercised through the end of year-two, the
Lessee's tenant improvement cost shall be satisfied and no additional
penalties shall be assessed.
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