STANDARD LEASE
This Lease, dated October __, 1998, between 000 XXXXXXXX XXXXXX LIMITED
PARTNERSHIP, a Florida limited partnership, whose address is 000 Xxxxxxxx
Xxxxxx, Xxxxx 000, Xxxx Xxxx Xxxxx, Xxxxxxx 00000 ("Lessor"), and XXXXXX
ENTERPRISES, INC., a Florida corporation, whose principal address is 000
Xxxxxxxx Xxxxxx, Xxxxx 000, Xxxx Xxxx Xxxxx, Xxxxxxx 00000 ("Lessee").
1. PREMISES. Lessor hereby leases to Lessee that certain interior space
commonly referred to as Xxxxx 000, 000 Xxxxxxxx Xxxxxx, Xxxx Xxxx Xxxxx, Xxxxxxx
00000 (the "Leased Space"). The Leased Space is also herein referred to as the
"Premises".
2. LEASE TERM AND COMMENCEMENT DATE. The term of this Lease (the "Lease
Term") shall commence on November 1, 1998 (the "Lease Commencement Date"), and
expires on October 31, 1999. Lessee accepts the Premises on an "as is" basis.
Lessee shall execute Lessor's Lease Commencement Certificate when Lessor tenders
possession of the Premises.
3. USE. (a) Lessee shall use and occupy the Premises for the following
purpose only, and no other: a work-live space. No more than two persons shall
regularly live in the Premises at any time. Lessee shall be in continuous use
and occupancy of the Premises and shall not vacate nor abandon the same during
the Lease Term.
(b) Such use shall be consistent with, and considerate of, other
tenants in the building, which include office and retail businesses and their
clientele, as well as residential tenants living in the building containing the
Premises. The use of the Premises is subject to regulations prescribed by Lessor
from time to time.
(c) The Premises shall be maintained in a neat, orderly, and attractive
manner. In the event Lessor is dissatisfied with the appearance of Lessee's
Premises, it shall specify the items which in Lessor's opinion fail to satisfy
this Lease's appearance requirements, and Lessee shall either (i) correct such
deficiencies or (ii) respond in writing to Lessor as to why it is in compliance.
Lessee's corrective actions or written response shall be provided within three
(3) days of Lessor's notice.
4. RENT. See "Rent Rider" attached hereto and which is made a part of
this Lease.
5. SECURITY DEPOSIT. Lessee has deposited with Lessor a Security
Deposit in the amount of -$350.00-.
6. LESSOR'S RULES AND REGULATIONS. The use of the Premises and the
Common Areas is subject to regulations prescribed by Lessor from time to time.
Lessor will adopt, and Lessee hereby agrees to comply with, rules and
regulations regarding the use of the Premises and the Property of which it is
a part. Such rules and regulations will
be adopted in an effort to assure the users of the Property that no offensive or
annoying activity or behavior (including noise generated) will be permitted to
occur which disrupts or tends to disrupt the rights of others to the quiet and
peaceful enjoyment of their premises. As used herein, the term "Common Areas"
means all areas and improvements located within the Property, of which the
Premises forms a part, which property is more particularly described on Exhibit
"A" hereto (the "Property"). Unless covered by a separate written parking
agreement (which shall solely govern Lessee's parking privileges, if any),
Lessor's parking lot at the rear of the Property is not available for the use of
Lessor's tenants, or such tenants' employees, customers, agents, invitees,
and vendors.
7. MODIFICATION. The Common Areas are subject to the absolute control
of Lessor, and Lessor may increase, reduce or change the number, dimensions or
location of walkways, buildings, parking (if any) and other areas.
8. SIGNS. Lessee shall not place, erect nor install any signage nor
allow to be erected nor installed any signs, printed displays, or window
lettering visible from outside the Premises without the prior written approval
of Lessor. All such signs, if allowed by Lessor, shall be maintained in a good
and safe condition and appearance at Lessee's expense and Lessee shall repair
any damage to the Premises, Common Areas, or Property resulting from the
erection, maintenance or removal of said signs.
9. LIENS; IMPROVEMENTS AND ALTERATIONS OF PREMISES BY LESSEE. Lessee
shall have no right to make any improvements or alterations to the Premises,
without the prior written consent of Lessor, which shall be in Lessor's sole
discretion.
The interest of Lessor in the Premises and the Property is not subject
to liens for improvements or alterations made by Lessee. Lessee shall comply
with the Mechanic's Lien Law of the State of Florida as set forth in Florida
Statutes, Chapter 713. Lessee shall not create nor permit to be created nor
remain as a result of any action or work done or contracted for by Lessee, any
lien, encumbrance or charge levied on account of any mechanic's, laborer's or
materialman's lien which might be or become a lien, encumbrance or charge upon
the Premises. Any such lien shall be discharged within ten (10) days after
notice of the filing thereof, by payments, deposit, bond, order of a court of
competent jurisdiction or otherwise. Failure to do so shall constitute a Default
hereunder.
Pursuant to Section 713.10, Florida Statutes, as amended from time to
time, the parties will, at the option of Lessor, execute, acknowledge and
deliver a Short Form of Lease or Notice of Lien Prohibition in the form
prescribed by Lessor. At Lessor's option, Lessor may record such instrument or
instruments.
10. REPAIRS BY LESSOR. Lessor agrees to keep and maintain only the
structural components of the roof, structural components and exterior walls
(exclusive of all signs, doors, windows, and glass, including plate glass) of
the Premises. If any such
maintenance and repairs are caused in part or in whole by the act, neglect,
fault or omission of duty by Lessee, its agents, servants, employees or
invitees, or any damage is caused to the Leased Space by breaking or entering,
Lessee shall pay to Lessor the actual cost of such maintenance and repairs.
Lessor shall not be liable for failure to make such repairs or to perform any
maintenance, unless Lessor shall be guilty of willful misconduct or gross
negligence.
11. REPAIRS BY LESSEE. Lessee shall, at its own cost and expense, keep
and maintain the Premises in good order and repair except such portions of the
Premises to be repaired by Lessor. Without limiting the foregoing, Lessee agrees
to keep in good order and repair, and to maintain and replace as needed, all
fixtures pertaining to heating, air conditioning (including compressors, fans
and ducts), ventilation, electrical and sprinkler systems and Lessee shall be
liable for any damage to such systems resulting from Lessee's misuse. Lessee
shall obtain, at its expense, a service contract for repairs and maintenance of
the heating and air-conditioning system for the Premises which conforms to the
warranty requirements of said system. Lessee agrees to return the Premises to
Lessor broom clean, at the expiration or sooner termination of this Lease, and
in good condition and repair, reasonable wear and tear expected.
12. COMPLIANCE WITH LAW. Lessee shall promptly execute and comply with
all statutes, ordinances, rules, orders, regulations and requirements of the
Federal, State, County and City Governments and any of their departments,
applicable to the Premises, and shall further comply with the requirements of
all insurance carriers respecting the same. Such compliance shall include,
without limitation, all statutes etc. related to environmental conditions, as
well as complying with all Code requirements, including the Americans with
Disabilities Act ("ADA").
13. UTILITIES; JANITORIAL. Lessee shall pay the cost of gas,
electricity, fuel, light, heat, power, water, telephone, cable, and all other
utilities furnished to the Premises or use by Lessee in connection therewith,
whether such utility costs are determined by separate metering or are billed by
Lessor as Additional Rent based upon Lessor's reasonable determination of
Lessee's consumption. Lessee is responsible for its own interior janitorial
services.
14. PERSONAL PROPERTY TAXES. Lessee shall pay all personal property
taxes assessed against or levied upon Lessee's fixtures, signs, furnishings,
equipment, and all other personal property of any kind owned by Lessee and used
in connection with the Premises.
15. LIABILITY INSURANCE. Lessee shall carry at its own expense
Comprehensive General Public Liability (to include Bodily Injury) and Property
Damage Insurance with combined single limits of not less than $1,000,000.00 with
insurance companies authorized to do business in Florida and satisfactory to
Lessor (an insurance company with Best's Key Rating Guide; Property - Casualty
of not less than "A+" shall be deemed satisfactory to Lessor), insuring Lessor
and Lessee against any liability arising
out of the ownership, use, occupancy or maintenance of the Premises and all
areas appurtenant thereto, including loss of income. In addition, Lessee shall
maintain any Workmen's Compensation coverage required under Florida law in full
force and effect during this Lease Term. The insurance policy or policies shall
contain provisions prohibiting the modification or cancellation of insurance
with at least thirty (30) days prior written notice to Lessor. Lessee shall
deliver said policies or certificates thereof to Lessor by the earlier of
Lessee's occupancy of the premises or commencement of any construction
improvements thereto and thereafter, renewal policies or certificates shall be
delivered to Lessor not less than thirty (30) days prior to expiration.
16. LIMITED LIABILITY. Lessor, or its agents, shall not be liable for
any loss or damage to persons or property from water or rain which may leak from
any part of the Property, or from pipes, appliances, or plumbing works therein,
or from the roof, street or subsurface or from any other place resulting from
any cause whatsoever, unless caused by or due to the gross negligence or willful
misconduct of Lessor, its agents, servants, or employees. All property of Lessee
kept or stored on the Premises shall be kept or stored at the risk of Lessee and
Lessee shall hold Lessor harmless from any claims arising out of damage to the
same, unless such damage shall be caused by the willful misconduct or gross
negligence of Lessor. Lessee acknowledges that the police and law enforcement
security protection provided by law enforcement agencies for the Premises is
limited to that provided to other businesses or enterprises situated in Palm
Beach County and any special security measures deemed necessary for additional
protection of the Premises shall be at the sole responsibility and expense of
Lessee.
17. DAMAGE OR DESTRUCTION. If the Premises are damaged by fire or other
insured casualty and the insurance proceeds have been made available therefor by
the holder(s) of mortgages, if any, covering the Premises, the damage shall be
repaired by and at the expense of Lessor to the extent of such available
insurance proceeds, provided such repairs can, in Lessor's sole opinion, be made
within ninety (90) days after the occurrence of the casualty without the payment
of overtime or other premiums. Until such repairs are completed, the rent shall
be abated in proportion to that part of the Premises which is unusable by Lessee
in the conduct of its business, as determined in the sole discretion of Lessor.
If the damage is due to the fault or neglect of Lessee or its employees,
contractors, agents or invitees, there shall be no abatement of rent. If the
Premises are damaged as result of any cause not covered by fire and extended
coverage insurance or if the insurance proceeds have not been made available or
if, in Lessor's opinion, the repairs cannot be made within ninety (90) days,
Lessor shall have the option: (i) to repair or restore such damage, this Lease
continuing in full force and effect but the rent shall be proportionately
reduced during the repair period or; (ii) give Notice to Lessee, at any time
within ninety (90) days after such damage, terminating this Lease as of the
casualty date and all interest of Lessee in the Premises shall terminate.
18. CONDEMNATION. If the whole of the Premises or so much thereof as to
render the balance unusable by Lessee shall be taken under power of eminent
domain or otherwise transferred in lieu thereof, this Lease shall automatically
terminate as of the
date of such condemnation. No award for any total or partial taking shall be
apportioned and Lessee hereby assigns to Lessor any award which may be made in
such taking or condemnation; provided, however, nothing contained herein shall
be deemed to give Lessor any interest in or require Lessee to assign to Lessor
any award made to Lessee for the taking of personal property belonging to
Lessee, and removable by Lessee at the expiration of this Lease.
19. ASSIGNMENT AND SUBLETTING. Lessee shall not, either voluntarily or
by operation of law, sell, assign, hypothecate or transfer this Lease or sublet
the Premises, or any part thereof, or permit the Premises, or any part thereof,
to be used for any purpose other than as set forth in this Lease. Unless
approved in writing by Lessor, not to be unreasonably withheld, any sale,
assignment, transfer or subletting of this Lease, or the Premises, contrary to
the provisions of this section shall be void and shall, at the option of Lessor,
constitute a Default under this Lease. If Lessee is a corporation, any merger,
consolidation or liquidation or any change in ownership or power to vote of
twenty percent (20%) or more of the total outstanding stock ownership shall
constitute an assignment under this Lease.
20. SUBORDINATION. This Lease is subject and subordinate to any and all
mortgages, deeds of trust, protective land covenants, or leasehold estates
pursuant to a ground lease, now existing, or which may hereafter be executed,
covering the Premises or the real property of which the same are a part. Lessee
agrees to execute, acknowledge and deliver upon request, any and all documents
or instruments requested by Lessor to evidence the subordination of this Lease
to any such mortgages, deeds of trust, protective land covenants or leasehold
estates. Lessee hereby agrees to attorn to any person, firm or corporation
purchasing or otherwise acquiring the Property at any sale or other proceeding,
or pursuant to the exercise of any other rights, powers or remedies under such
mortgages or deeds of trust or leasehold estate as if such person, firm or
corporation had been named as Lessor herein. Lessee agrees to execute,
acknowledge and deliver in recordable form to any proposed mortgagee or
purchaser or to Lessor or to such other person designated by Lessor, a
certificate certifying, if such be the case, (i) that this Lease is in full
force and effect and there are no defenses or offsets thereto, or if Lessee
claims any defenses or offsets, stating those claimed by Lessee; (ii) that
Lessee has accepted possession of the Premises as of the date of such
certificate; and (iii) that Lessee agrees to notify any proposed mortgagee or
purchaser of any Default by Lessor hereunder which would entitle Lessee to
cancel this Lease or xxxxx Base Rent, Additional Rent or other sums payable
hereunder. Lessor's written request therefor shall be conclusive that this Lease
is in full force and effect without modification except as may be represented by
Lessee.
21. DEFAULT. If Lessee shall (i) fail to pay the rent or any other item
to be paid by Lessee hereunder when due and such failure shall not have been
cured within three (3) days after written Notice thereof by Lessor to Lessee;
(ii) fail to perform any other term, covenant, or condition of this Lease and
such failure shall not have been cured to the satisfaction of Lessor within
twenty (20) days after written Notice thereof by Lessor; (iii)
vacate or abandon the Premises; or (iv) fail to open within sixty (60) days
after the Commencement Date as set forth in this Lease; then Lessor may, at its
option, declare Lessee to be in Default hereunder, and thereupon, Lessor shall
be entitled, without further notice, to terminate this Lease and accelerate the
payment of Base Rent and Additional Rent for the balance of the term hereof or,
in addition, exercise any one or more of the remedies provided herein or
permitted by law.
In the event of a Default by Lessee, Lessor may, at its option, elect
any of the following remedies:
(a) re-enter and take possession of the Premises and remove all persons
and property from the Premises at the cost and for the account of Lessee without
being deemed guilty of trespass or becoming liable for any loss or damage which
may be occasioned thereby, or Lessor may terminate this Lease. In the event
Lessor elects to re-enter and take possession of the Premises without
terminating this Lease, Lessor may, as agent of Lessee, relet the Premises, or
any part thereof, for such term or terms, which may be for a term extending
beyond the term of this Lease, at such rental or rentals, and upon such other
terms and conditions as Lessor, in its discretion, may deem advisable, with the
right to make alterations and repairs to the Premises. Upon any such reletting,
Lessor shall receive and collect the rents therefor, applying the same first to
the payment of such expenses as Lessor may have paid, assumed or incurred in
recovering possession of the Premises, including costs, expenses and attorney's
fees, placing the same in good order and condition, repairing or altering the
Premises for reletting and all other expenses, commissions and charges paid,
assumed or incurred by Lessor in or about reletting the Premises, and then to
the fulfillment of the Lease obligations of Lessee. In any event, and whether or
not the Premises or any part thereof is relet, Lessee shall pay Lessor for all
such amounts required to be paid by Lessee up to the time of re-entry by Lessor
and thereafter. Lessee shall, if required by Lessor, pay to Lessor until the
expiration or termination of this Lease, an equivalent of that amount equal to
all Base Rent and Additional Rent, and other charges required to be paid by
Lessee under the terms hereof, less the proceeds, if any, of such reletting, and
the same shall be due and payable on the first day of each calendar month during
the remainder of this Lease.
(b) re-take and recover possession of the Premises, and accelerate and
collect all Base Rent and Additional Rent, and other charges required to be paid
by Lessee for the balance of the Lease Term under the terms hereof.
22. WAIVER OF JURY. Lessor and Lessee hereby mutually, voluntarily, and
intentionally waive the right either may have to a trial by jury in respect to
any and all civil actions commenced by either party in connection with this
Lease.
23. ACCESS BY LESSOR. Lessor, and its agents, shall have the right to
enter the Premises at all reasonable times for any purpose including the making
of such alterations, repairs, improvements or additions to the Premises as
Lessor may deem necessary or desirable. Lessee's keys to the Premises shall
conform to Lessor's key
system for the building in order that Lessor's master key may access the
Premises. If Lessee installs a security system for the Premises, Lessor shall be
provided with the access code.
24. SALE BY LESSOR. In the event of any transfer of Lessor's interest
in the Premises, other than a transfer for security purposes only, the
transferor shall be automatically relieved of any and all obligations and
liabilities on the part of Lessor occurring after such transfer provided
however, any funds in the hands of Lessor at the time of such transfer, in which
Lessee has an interest, shall be turned over to the transferee and any amounts
then due and payable to Lessee by Lessor under any provisions of this Lease
shall be paid to Lessee, it being intended hereby that the covenants and
obligations contained in this Lease on the part of Lessor shall, be binding on
Lessor, its successors and assigns only during their respective periods of
ownership.
25. SURRENDER OF PREMISES. At the expiration or termination of this
Lease, Lessee shall surrender the Premises to Lessor broom clean and in as good
a condition and repair as is reasonable and proper, normal wear and tear
excepted. If not then in default, Lessee shall, except as provided otherwise
within this Lease, have the right at the end of this Lease to remove any
equipment, furniture, trade fixtures or other personal property placed in the
Premises by Lessee provided Lessee promptly repairs any damage to the Premises,
or the Property, caused by such removal.
26. NOTICES. Any Notice required or permitted to be given hereunder
shall be in writing and shall be given by certified mail, postage prepaid,
return receipt requested, addressed to Lessee, or to Lessor, at the address
noted on the first page hereof. If certified mail is so utilized, receipt shall
be conclusively presumed to have occurred on the third business day after such
mailing. Either party may, by Notice to the other, specify a different address
for Notice purposes. Notwithstanding the foregoing, upon Lessee's taking
possession of the Premises, the Premises shall constitute Lessee's address for
Notice purposes.
27. ATTORNEY FEES. If any legal matter, dispute, action or proceeding
exists or is commenced by either party to enforce the obligations of the other
under this Lease, the non-prevailing party shall be liable for and shall pay for
the expense of attorney fees of prevailing party in such matter. "Attorney
fees", as referred to in this Lease, shall include fees and expenses of
attorneys, including costs of paralegals and law clerks, for all legal services,
negotiation services and collection services through trial and appeal.
28. HOLDING OVER. Should Lessee continue in occupancy of the Premises
after expiration of this Lease without Lessor's consent, Lessee shall become a
tenant at sufferance upon each and all of the terms herein provided and any such
holding over shall not constitute a renewal or extension of this Lease. During
such holding over, Lessee shall pay, at Lessor's sole discretion, Base Rent and
Additional Rent at twice the monthly amount which was payable by Lessee
immediately prior to the hold over occurrence. Furthermore, Lessee will be
liable for any damages Lessor may suffer as a result of
Lessee's hold over, including, but not limited to, any and all damages resulting
from Lessor's inability to give possession of the Premises to a new tenant, or
prepare the space for same.
29. BROKERS. Lessee warrants it has had no dealings with any real
estate broker or agents in connection with the negotiation of this Lease, and it
knows of no real estate broker or agent who is or might be entitled to a
commission in connection with this Lease and Lessee agrees to indemnify and hold
Lessor harmless from and against any and all claims for any such commissions.
30. RADON GAS. Radon is a naturally occurring radioactive gas that,
when it has accumulated in a building in sufficient quantities, may present
health risks to persons who are exposed to it over time. Levels of radon that
exceed Federal and State guidelines have been found in buildings in Florida.
Additional information regarding radon and radon testing may be obtained from
the county public health unit. This notice is given pursuant to 404.056(8)
Florida Statutes.
31. NONRECOURSE AS TO LESSOR. Notwithstanding any provisions herein to
the contrary, neither Lessor nor its partners, nor the agent of Lessor, nor the
owners of the Property, shall be personally liable for the breach of any
provisions of this Lease. In the event of any such breach, Lessee shall look
solely to Lessor's equity in the land and building of which the Premises are a
part for the satisfaction of all of Lessee's rights and remedies. Such exception
of personal liability is absolute and unconditional.
32. CONSTRUCTION BY LESSEE. (a) Before commencing any alterations, or
installations, in or to the Premises, Lessee shall submit the plans and
specifications therefor as well as its budget concerning the cost of the same to
Lessor or its agent for Lessor's written approval, such approval to be in
Lessor's sole discretion. Lessor's rights hereunder extend to, and include, by
way of example and not of limitation, the right to approve, or disapprove, of
Lessee's contractor or subcontractors. All work to be done by Lessee shall be
performed in strict accordance with the approved plans and specifications and
budget, unless otherwise approved in writing by Lessor. Lessee shall comply at
its expense, with all present and future governmental requirements arising out
of and in connection with, or necessitated by such alterations or installations.
(b) Before commencing any work or installing any equipment, Lessee
shall obtain necessary consents, authorizations and licenses from all
governmental authorities have jurisdiction. Further, prior to the commencement
of such work, the contractor performing the work shall secure Builders' Risk
Insurance on a completed value form with Lessor and Lessee as named insured, in
an amount not less than one hundred (100%) percent of the value of the work.
(c) Lessee's improvements shall comply in all respects with the ADA and
the Florida Statutes implementing such federal law and regulations.
33. INTEREST. Any amount due Lessor not paid when due shall bear
interest at eighteen (18%) percent per annum from the date due. Payment of such
interest shall not excuse or cure any default by Lessee under this Lease.
34. FURTHER CONDITIONS. Notwithstanding any other provision of this
Lease, in the event Lessee is late in the payment of its rent more than three
(3) times during the term of this Lease or any extensions thereof, then Lessor,
at Lessor's option and in Lessor's sole discretion, and without any further
notice, may terminate this Lease.
35. TIME. Time is of the essence of this agreement.
36. WAIVER. Lessor's failure to take or delay in taking advantage of
any default or breach of covenant on part of Lessee shall not be construed as a
waiver thereof, nor shall any custom or practice which may grow between the
parties in the course of administering this Lease be construed to waive or
lessen the right of Lessor to insist upon the strict performance by Lessee of
any term, covenant or condition hereof, or to exercise any rights of Lessor on
account of any such default. In no case will Lessor be deemed to have waived any
of Lessor's rights under this Lease, law or equity, unless Lessor delivers to
Lessee a written waiver executed by an officer of Lessor which expressly
identifies the right being waived. A waiver of a particular breach or default
shall not be deemed to be a waiver of the same or any other subsequent breach or
default. The acceptance of rent hereunder shall not be, a waiver of any breach
of any term, covenant, or condition of this Lease. The presentation of any rent
or other charge hereunder in the form of a check marked by Lessee to constitute
a waiver of any default shall not constitute such waiver even though endorsed
and cashed by Lessor unless Lessor expressly agrees to waive such default by
separate written instrument. No surrender of the Premises for the remainder of
the Lease Term shall operate to release Lessee from liability hereunder.
37. SEVERABILITY. If any term or provision of this Lease or the
application thereof to any person or circumstance shall, to any extent, be
invalid or unenforceable, the remainder of this Lease and the application of
such term or provision to persons or circumstances other than those to which it
is held invalid or unenforceable shall not be affected thereby, and each term
and provision of this Lease shall be valid and enforceable to the fullest extent
permitted by law.
IN WITNESS WHEREOF, the parties hereto have signed and sealed this Lease as of
the day and year first above written.
Witnessed as to Lessor Lessor: 000 XXXXXXXX XXXXXX LIMITED
PARTNERSHIP, a Florida limited
partnership, by REN GP CORP., a
Florida corporation, its general partner
__________________________ BY: ____________________________
Title:
__________________________ Date Executed:____________________
Witnessed as to Lessee Lessee: XXXXXX ENTERPRISES, INC.,
a Florida corporation
__________________________ BY: ____________________________
Title:
__________________________ Date Executed:____________________
RENT RIDER
1. TOTAL REMITTANCE TO LESSOR. The total monthly remittance to Lessor
shall include Base Rent, Additional Rent, and Florida sales tax as provided
below.
2. BASE RENT. Base Rent, as set forth below, shall be paid in advance
on or before the first day of each calendar month during this Lease Term:
Base Rent from November 1, 1998, through November 30, 1999: equal
monthly payment of $1,030.00.
Base Rent from December 1, 1998, through October 31, 1999: equal
monthly payments of $1,450.00.
The first full month and last months' rents, and applicable sales tax, shall be
paid to Lessor upon the execution of this Lease.
3. ADDITIONAL RENT. It is the intent for the Base Rent payable to
Lessor to be absolutely net of all increased expenses associated with taxes,
insurance, and operating expenses for the Property over those in effect for 1999
(the "Base Year"). Therefore, if Lessee continues to occupy the Premises on
January 1, 2000, then commencing January 1, 2000, in addition to Base Rent,
Lessee shall pay the following as Additional Rent:
(a) Taxes. Lessee's Pro Rate Share (as hereinafter defined) of the
amount of any increase in all real and personal property taxes and assessments
(including, without limitation, sanitary taxes, extraordinary or special
assessments and all costs and fees including reasonable attorney's fees incurred
by Lessor in contesting the same) levied, imposed or assessed upon the Property
over those in effect for the Base Year, plus the full amount of any real
property tax assessment that is directly attributable to improvements by Lessee
to the Premises.
(b) Insurance. Lessee's Pro Rata Share of the amount of any increase in
the total cost to the Lessor of all fire, extended coverage, liability,
workmen's compensation and other insurance coverage carried by Lessor with
respect to the Property, over the cost thereof for the Base Year.
(c) Operating Costs. Lessee's Pro Rata Share of the amount of any
increases to Lessor in total Operating Cost over those in effect for the Base
Year. The term "Operating Costs" (and shall include Taxes and Insurance) shall
mean the total cost and expenses incurred in connection with the normal
administration (including a management fee), operation, preventive and
corrective maintenance and repair of the Property, the implementation and costs
for which shall be at the sole discretion of Lessor and whether paid to
employees of Lessor or parties engaged by Lessor. Lessor shall have the right,
but not the obligation, to direct that trash intensive lessees within the
Property arrange for the use of their own trash receptacle and removal service
at Lessee's expense, or in the alternative, Lessor may assess a surcharge for
the excess trash collection and removal service.
(d) Lessee's Pro Rate Share. Lessee's Pro Rata Share is 3.1%.
(e) In the event Lessor determines that Lessee's consumption or use of
various amenities, services or Lessor-provided utilities is excessive, in
Lessor's sole discretion and judgment, then Lessor may assess Lessee with a
monthly surcharge to reimburse itself for such excessive consumption or usage.
Lessee shall pay such surcharge to Lessor along with its Base Rent.
Alternatively, Lessor, at its option and its sole discretion, may discontinue
providing the excessively consumed or used amenity, service or utility and
direct Lessee to arrange for such amenity, service or utility on its own, at
Lessee's sole expense.
(f) Adjustment Procedure. Notwithstanding any other provision herein to
the contrary, it is agreed that in the event all of the space in the building
contained on the Property is not occupied or provided with building standard
services during any year, an adjustment shall be made in computing Additional
Rent so that those components of Additional Rent which may vary with occupancy
or levels of services shall be computed for such year as though all of the space
in the building has been occupied or provided with building standard services
during such year.
4. PAYMENT OF ADDITIONAL RENT. (a) Estimated Payments. Lessee shall pay
Lessor, together with the Base Rent, a monthly installment of estimated
Additional Rent as set forth by Lessor.
(b) Reconciliation Payment of Actual Additional Rent Payable. Within
one hundred and twenty (120) days of the end of each calendar year under this
Lease, Lessor shall endeavor to deliver to Lessee a statement of the actual
Additional Rent payable by Lessee for the prior year. Any further Additional
Rent amount due to Lessor shall be paid by Lessee within thirty (30) days
following Lessor's delivery of said statement. If the total of the estimated
payments is greater than the actual Additional Rent for the same period. Lessee
shall receive a credit against the next due payment of estimated Additional
Rent. Should a credit be due Lessee at the termination of this Lease, Lessor
shall remit payment to Lessee within thirty (30) days of notification that said
credit is due Lessee.
5. ADMINISTRATIVE CHARGE FOR LATE PAYMENT. Payments of Base Rent and
Additional Rent not received by the first (1st) of the month shall be subject to
an administrative charge of five (5%) percent of the unpaid amount.
6. REMITTANCE OF SALES TAX. To the extent subject to Florida State
Sales Tax, such tax shall be added to and remitted along with the payments
required under this Rent Rider.
7. NO SETOFF. All Base Rent, Additional Rent, and all other payments
required under this Lease shall be due and payable by Lessee to Lessor, without
demand, and without any reduction, abatement, counterclaim or setoff.
IN WITNESS WHEREOF, the parties hereto have signed and sealed this Lease
effective as of the day and year first above written.
Witnessed as to Lessor Lessor: 000 XXXXXXXX XXXXXX LIMITED
PARTNERSHIP, a Florida limited
partnership, by REN GP CORP., a
Florida corporation, its general partner
________________________ BY: ____________________________________________
Title:
________________________ Date Executed: _________________________________
Witnessed as to Lessee Lessee: XXXXXX ENTERPRISES, INC.,
a Florida corporation
________________________ BY: ____________________________________________
Title:
________________________ Date Executed: _________________________________
EXHIBIT A
LEGAL DESCRIPTION
-----------------
Xxxx 0, 0, xxx 0, Xxxxx 0, XXX XXXX OF WEST PALM BEACH, FLORIDA, according to
the Plat thereof on file in the Office of the Clerk of the Circuit Court in and
for Palm Beach County, Florida, recorded in Plat Book 1, Page 2.
