EXHIBIT 10.(e) - LEASE
THIS LEASE, made as of this 1st day of November, 2000, by and
between A. XXXX XXXX and XXXXXX X. XXXX, his wife, both of Baltimore
County, State of Maryland, hereinafter called "Landlord", and MONARCH
SERVICES, INC., a body corporate of the State of Delaware, hereinafter
called "Tenant".
W I T N E S S E T H:
- - - - - - - - - -
That the Landlord does hereby demise, let and lease unto said
Tenant, its successors and assigns, and Tenant hereby takes and hires
as Tenant of the Landlord the premises improved by the following
buildings: (1) approximately 15,000 square feet known as 0000-0000
Xxxxxxx Xxxx located in Baltimore, Maryland, hereinafter called
"demised premises".
TO HAVE AND TO HOLD the same for an initial term of five (5)
years commencing on the 1st day of November, 2000 and ending on the
31st day of October, 2005, with right of Tenant to renew this lease
for an additional term of five (5) years at the end of the initial
term.
The Tenant covenants and agrees to pay to the Landlord at 0000
Xxxxx Xxxx Xx, Xxxxx., Xxxxxxxx 00000, as a basic rental, the annual
sum of Sixty Thousand ($60,000.00) Dollars, payable in equal monthly
installments of Five Thousand ($5,000.00) Dollars on the first day
of each month, in advance, during the initial term hereof.
In addition thereto, on a year to year basis the Tenant shall
increase rent calculated on the Consumer Price Index.
TENANT COVENANTS AND AGREES:
---------------------------
1. To pay the aforesaid rent at the time and times and in the
manner hereinabove provided, with demand therefor, at such places as
Landlord shall from time to time designate.
2. To use and occupy the demised premises as a restaurant and
entertainment center and for general office space.
3. Not to assign this lease, or sublet the demised premises or
any part thereof, without the consent in writing of the Landlord,
such consent not to be unreasonably withheld.
4. To pay at its own expense all charges for gas, electric
current and water used in the demised premises during the continuance
of this lease.
5. To provide heat for the demised premises at its own expense.
6. To maintain the demised premises, both interior and exterior,
including roof, electrical, plumbing, heating, air conditioning, and
other mechanical installations therein and thereon, in good order and
repair, at Tenant's own expense, and to surrender the demised premises
at the expiration of the term or terms, or at such time as Tenant may
vacate the demised premises, in as good condition as when received,
excepting depreciation caused by ordinary wear and tear and damage by
fire, unavoidable accident or Act of God.
7. To pay as additional rent and fire insurance and liability
insurance premiums on the premises to protect the interest of the
Landlord, fire insurance being based upon market value of premises.
8. The Tenant shall at its own expense replace all broken glass,
no matter what the cause of such breakage, so long as without fault
on the part of the Landlord.
9. To pay at its own expense all tangible personal property
taxes levied on its equipment, inventory and supplies and all minor
privilege taxes levied on the premises.
10. The Tenant shall pay as additional rent all real property
taxes assessed against the demised premises and shall submit to
Landlord a receipted tax xxxx for such payments. The taxes shall be
paid during the period permitted by law for payment without penalty
or interest and receipted tax xxxx shall be submitted to Landlord
within thirty days of such payment.
11. The intention is that the rent paid to the Landlord is net
of all expenses with the exception of any debt service which the
Landlord may incur.
12. To observe and comply with, at its expense, any laws, rules
and regulations of the United States or any political sub-division
thereof, and any and all governmental agencies and authorities and
Board of Fire Under-writers respecting the manner in which the premises
are or should be used by the Tenant and not to use or permit said
premises to be used for any disorderly or unlawful purpose.
13. The Tenant covenants and agrees that the Landlord shall not
be held responsible for, and the Landlord is hereby released, and
relieved from, any liability by reason of or resulting from damage
or injury to person or property of the Tenant or anyone else,
directly or indirectly, caused by (a) dampness or water in any part
of said premises, and (b) from any and all liability in any action
for damages which may arise from any kind of injury to persons,
property, in or upon or adjacent to the premises or that may arise
from any other cause. Said Tenant is to carry a public liability
policy with a responsible insurance company with limits of not less
than $1,000,000/3,000,000 for the term of this lease, protecting the
Landlord and the Tenant against injury to persons or property, and
to deliver said policy or a certificate thereof to the Landlord.
14. To permit the Landlord or its duly authorized agents and
employees to enter the said premises at all reasonable times to
examine the condition of the same and to make any necessary repairs
to said premises and within six (6) months from the end of the term
to exhibit the demised premises for rent or sale including exhibiting
a "for rent" or "for sale" sign.
LANDLORD COVENANTS AND AGREES:
-----------------------------
1. That the Tenant, upon paying of rents and performing the
covenants of this lease, on its part to be performed, shall quietly
occupy and enjoy, during said term, said leased premises, without
any hinderance or molestation, by or on the part of said Landlord,
or anyone claiming by, from, through, under or with the Landlord.
2. That the premises may be legally used for the purposes set
forth under subparagraph 2 on page 2.
3. That the premises are currently free of violations.
4. That the premises comply with requirements of governmental
agencies and Board of Fire Underwriters.
THE PARTIES HERETO DO FURTHER MUTUALLY COVENANT AND AGREE:
---------------------------------------------------------
1. That if said rent or any charges herein included as rent
shall at any time be in arrears and unpaid and shall remain unpaid
for five (5) days after the giving of notice in writing thereof by
the Landlord, by addressing same to the Tenant at its offices at
the demised premises, or if Tenant shall fail to comply with the
conditions of this lease, or notice given under the terms hereof,
or shall not well and truly perform and fulfill each and every
covenant and agreement herein contained on the part of the Tenant
to be performed and kept, and said default shall continue for five
(5) days after the giving of such notice in writing specifying
such default of which complaint is made, which notice will be
addressed to the Tenant at its offices at the demised premises,
or if the Tenant shall make an assignment for the benefit of
creditors, be declared bankrupt, voluntarily or involuntarily,
and said assignment shall not be revoked or said bankruptcy set
aside within ten (10) days thereafter, or said Tenant shall abandon
or vacate said premises during the terms hereof, or if the interest
of the Tenant in said premises shall be sold under execution or
other legal process, the Landlord may, at Landlord's option, enter
in and upon said premises and again have, repossess and enjoy the
same as if this Lease had not been made, and thereupon this lease
and everything herein contained on the part of the Landlord to be
kept and performed, shall cease, determine, and be utterly void,
without prejudice, however, to the right of the Landlord to recover
from the said Tenant or assigns all rent due up to the time of
such entry. In cases of said default and entry by said Landlord,
said Landlord, may at the Landlord's option, re-rent said premises
for the remainder of said term for the best rent obtainable under
the surrounding circumstances and conditions then present, and may
recover from said Tenant any rent herinbefore reserved.
2. That the words "enter" and "re-enter" as used in this
Lease are not restricted to their technical legal meaning.
3. That in the event of a breach, or threatened breach by
the Tenant, of any of the covenants or provisions hereof, the
Landlord shall have the right of injunction and the right to invoke
any remedy allowed, at law or in equity, as if re-entry, summary
proceedings and other remedies were not herein provided for.
4. That any failure of Landlord or Tenant to enforce rights
or seek remedies upon any default of the other party, with respect
to the obligations of each or either hereunder, or any of them,
shall not prejudice or affect the rights or remedies of each or
either of them in the event of any subsequent default.
5. And, provided further, that if during the term of this
Lease the demised premises, or any portion thereof, is damaged by
fire, windstorm, Act of God, or other casualty causing such
damage that the demised premises are rendered wholly untenantable,
this lease shall terminate from such date, unless within thirty
(30) days thereafter the Landlord shall elect to repair and so
notify the Tenant in writing, in which event the Landlord shall
re-enter and repair with reasonable promptness, and this lease
shall not be affected except that the rent shall be abated from
the date of the happening of such damage until the repairs have
been sufficiently completed to render the premises tenantable.
If the damage is such that the lease premises are rendered partially
untenantable, the Landlord shall enter and repair with reasonable
promptness, and this Lease shall not be affected except that the
rent shall be abated in proportion to the Tenant's loss of use
as regards time and space until such time as the repairs are
completed. If the damage shall not be rendered the leased premises
wholly or partially untenantable, this Lease shall not be affected,
but the Landlord shall enter and repair with reasonable promptness.
6. In the event the building shall be appropriated or taken
under the power of eminent domain by any public or quasi public
authority, this Lease shall terminate and expire as of the date of
such taking, and the Tenant shall thereupon be released from any
further liability hereunder.
7. That the Tenant will not make any alterations to said
premises without the written consent of the Landlord.
8. The Tenant has previously been occupying the premises and
agrees to accept said premises in the existing condition.
9. The covenants and agreements herein contained are binding
upon and shall inure to the benefit of the successors, heirs,
assigns, executors, administrators and/or personal representatives
of the Landlord and Tenant.
RENEWAL OPTION:
--------------
1. The Tenant shall, provided it is not in default in any of
the terms and conditions of this Lease, have the option to renew
this Lease for and additional period of five (5) years, such extended
term to begin upon the expiration of the initial term of this Lease,
upon the same terms and conditions contained in the Lease, except
that the annual rental for the demised premises shall be adjusted as
set forth in Section 2 below, and provided that Tenant shall give
Landlord notice in writing by registered or certified mail of its
intention to exercise such option, no later than one (1) year prior
to the expiration of the initial term of this Lease.
2. The annual rental for each year of the additional term of
this Lease shall be adjusted, upward but not downward, as of the
date of the exercise of the renewal option by Tenant, in accordance
with the Consumer Price Index. Such increase in the Index shall be
calculated by comparing the Index in effect as of the first full
calendar month of the preceding Lease Year (the Base Index Number)
with the Index in effect as of the last full calendar month of the
preceding Lease Year (the Current Index Number)--i.e. the Base
Annual Rent shall be multiplied by a fraction, the numerator of
which is the Current Index Number and the denominator of which is
the Base Index Number. As used herein, the "Index" means the
U.S. Bureau of Labor Statistics, Consumer Price Index for Urban
Wage Earners (CPI-w), U.S. City Average. If the Bureau of Labor
Statistics changes the form or basis of calculating the Consumer
Price Index, the Parties agree to request the Bureau to make
available, for the life of this Lease, a monthly Consumer Price
Index in its present form and calculated on the same basis as the
Index for the first month of the initial term of this Lease.
WITNESS the signatures and seals of the Landlords and the
corporate seal of the Tenant and the signature of the President
thereof.
WITNESS: LANDLORDS
/s/ Xxxx Xxxx /s/ A. Xxxx Xxxx (SEAL)
----------------------------- --------------------------
A. Xxxx Xxxx
/s/ Xxxx Xxxx /s/ Xxxxxx X. Xxxx (SEAL)
----------------------------- --------------------------
Xxxxxx X. Xxxx
ATTEST: TENANT
MONARCH SERVICES, INC.
/S/ Xxxxxx X. Xxxxxxx /s/ Xxxxxxx X. Xxxx
---------------------------- -------------------------
Corporate Secretary President