90th St., LLC LEASE
This Lease is made and entered into this ___, day of JANUARY 1999,
between 90th St., LLC., a Nebraska Limited Liability Corporation (To be formed),
as Lessor and Global Entertainment Holdings/Equities, Inc. a Colorado
Corporation as Lessee.
1. Leased Premises: Lessor does hereby lease, demise and let unto the Lessee the
following described premises: 0000 Xx. 00xx XXXXXX, XXXXX, XX
2. Lease Term: The term of the lease shall commence on the 1st day of February,
and end on the 31st day of JANUARY, 2004, unless terminated as herein provided.
3. Statement: Lessee hereby agrees to provide to Lessor a financial statement of
principals whether Lessee is a sole proprietor, partnership, corporation,
company, etc., prior to the signing of said Lease by Lessor.
4. Acceptance and Occupancy. Occupancy of the Leased Premises by the Lessee
shall constitute acceptance by the Lessee.
5. Rental: Lessee shall and hereby agrees to pay the Lessor without demand,
deduction, or setoff, at such place or places as the Lessor may designate from
time to time in writing, rent in advance for said Leased Premises the sum of
Thirty Four Thousand Two Hundred dollars ($34,200.00), payable in monthly
installments as follows:
For the period from March 1, 1999 to February 28, 2000 $1300.00 per month.
For the period from March 1, 2000 to February 28, 2001 $1325.00 per month.
For the period from March l, 2001 to February 28, 2002 $1350.00 per month.
For the period from March 1, 2002 to February 28, 2003 $1375.00 per month.
For the period from March 1, 2003 to February 28, 2004 $1400.00 per month.
said rental to be payable monthly in advance, on the first day of each
successive month, at the office of Commercial Realty, INC., 5709 "F" STREET,
XXXXX, XXXXXXXX 00000, or at such other place as the Lessor shall direct.
6. Security Deposit. Contemporaneously with the execution of this Lease, Lessee
shall deposit with Lessor the sum of Nine Hundred Fifty Dollars ($_0_) receipt
acknowledged as security for the performance by Lessee of each and every
obligation hereunder to be performed by Lessee. In the event of any default by
Lessee, Lessor may apply all or any part of such security deposit to cure the
default or to reimburse Lessor for any sum which Lessor may spend by reason of
such default. In the event of any such application or retention, Lessee shall,
on demand, pay to Lessor the sum so applied, or retained, which shall be added
to the security deposit, so that same shall be restored to its original amount.
If, at the end of this Lease term, Lessee shall not be in default of any
provision under this Lease, the security deposit, or any balance thereof, shall
be returned to the Lessee, without interest.
7. Late Charge: If the monthly rental is not received by Lessor on or before the
5th day of each month, Lessee agrees to pay Lessor a late charge in the amount
of five percent (5%) of the total amount outstanding.
8. Business Use: The Leased Premises shall be used and occupied only for ____
General Office Use _________________________________ and for no other purpose
without written consent of Lessor. Lessee agrees continuously and
uninterruptedly (except when prevented from doing so by reason of fire or other
casualty) to conduct its business in the Leased Premises during the lease term
and any extension thereof Lessee agrees promptly to comply with all laws,
ordinances, rules, and regulations affecting the Leased Premises and promulgated
by duly constituted governmental authorities affecting the cleanliness, safety,
use and occupation of the Leased Premises and any business thereon, and shall
pay all costs involved in such compliance.
9. Rules and Regulations: Lessee covenants and agrees with Lessor that it will
comply with all of the Rules and Regulations attached hereto as Exhibit "A".
10. Common Areas: Lessor agrees to provide at the building of which the Leased
Premises are a part, a parking area, which parking area shall be for the non-
exclusive use of the Lessor, all Lessees of the Building, and their respective
employees, agents, customers, and invitees.
For the purpose of this section and wherever else used in the Lease, the Common
Areas shall include, but shall not be limited to, parking areas, sidewalks or
other pedestrian walkways, landscaped areas, pick-up and delivery areas, streets
and other public areas, designed for the common use and benefit exclusive of
space in any building designated for rental to Lessees for commercial purposes,
as the same may exist from time to time.
INITIALS _____ _____
11. Use of Common Areas: Lessor hereby grants to Lessee, its employees, agents,
customers and invitees, the non-exclusive rights for and during the tem of this
Lease, and any renewal thereof, to use the common areas from time to time, such
use to be in common with Lessor and all Lessees of the Lessor.
12. Rules and Regulations, Supervision and Management: Lesser shall have the
right power and authority to establish and promulgate and therafter change or
modify all rules and regulations which it may in its sole discretion deem
necessary for the use of the Common Areas. All such Common Areas shall at all
times be subject to the exclusive control and management of Lessor so that the
Lessor will be in a position to make available efficient and convenient use
thereof. Lessee agrees to abide by and conform with all rules and regulations
pertaining to such Common Areas. Lessor shall have the right to construct,
maintain and operate lighting facilities, to police the Common Area from time to
time to change the area, location and arrangement of the Common Area and
facilities and accommodations thereof; to restrict employee parking to employee
parking areas, to temporarily close all or any portion of the Common Areas or
facilities to discourage non-customer parking and to do and perform such other
acts in and to said Common Areas and facilities. The exercise of good business
judgment regarding the aforesaid shall be determined by the Lessor in its sole
discretion.
13. Common Area Maintenance: In addition to the rent and other payments Lessee
agrees to make under this Lease, Lessee agrees to pay monthly in advance
Lessee's proportionate share, as determined hereinafter estimated by Lessor, the
costs to operate, maintain and manage the Common Areas of the Property. The
Common Areas expenses shall include, without limitation, the cost of the roof
repairs, snow removal water and sewer use fees, security and fire control
systems, lighting, painting, repairing, replacing, cleaning and heating and air
conditioning enclosed areas, specifically including landscaping and gardening,
parking lot, line painting, traffic control, sanitary control, liability and
other insurance premiums, cost of all rentals of machinery equipment used in
maintenance and operation, the cost of personnel to implement those services, to
direct parking and to police the common areas, and management fees not exceeding
5% of gross rentals collected. Within 60 days after the end of each calendar
year, Lessor shall give Lessee a statement of all costs and expenditures as
enumerated in this Section and a determination of Lessee's proportionate share,
the product of the mathematical equation obtained by multiplying the invoice
amount by a fraction (i) the numerator being the total number of gross leasable
square feet in the Leased Premises, (ii) the denominator being the total number
of square feet of the floor areas of all the Buildings in the Property (it is
agreed that the Lessee's original proportionate share is 2.9%).
If the amount actually paid by Lessee is less than its proportionate share for
that calendar year, the balance shall be paid within 10 days after the statement
is sent to Lessee, or in the alternative, any payment made by the Lessee in
excess of its share shall be credited to the next sums due from Lessee under
this Section. The statement shall also contain a determination by Lessor of the
monthly sum to be paid by Lessee during the succeeding months of the next
calendar year, which determination shall be based in part on the statement of
expense for the preceding year modified by any anticipated increases in the cost
of those services.
14. Lessor's Repairs: Lessor shall keep the foundations, exterior walls (except
store fronts, plate glass and other breakable materials used in structural
portions) and roof of the Building in which the Leased Premises are located in
good repair and, if necessary or required by the proper governmental
authorities, make modifications or replacements thereof. Lessor agrees that all
equipment installed by it as of the time of occupancy shall be in good working
order.
15. Lessee's Repairs: Lessee agrees, at Lessee's expense, at all times to keep
the Leased Premises and appurtenances thereto in good order, condition and
repair, clean, sanitary and safe, including but not limited to the replacement
of equipment, including heating, ventilating and air conditioning units,
fixtures and all broken glass (with glass of the same size and quality) and
shall in a manner satisfactory to the Lessor, decorate and paint the Leased
Premises when necessary to maintain at all times a clean and sightly appearance.
If Lessee refuses or neglects to commence any such repairs or replacements
within five (5) days after written demand, then and thereafter Lessor may, but
shall not be obligated to do so, make such repairs and replacements without
liability to Lessee for any loss or damage that may occur to Lessee's stock or
business by reason thereof, and, if Lessor makes such repairs, Lessee shall pay
to Lessor, on demand, as additional rent, the cost thereof together with
interest at the rate of ten percent (10%) per annum from the date of payment by
Lessor, and all such cost and interest shall become due and payable on the
rental payment date immediately following such completion. Lessee, at its
expense, shall replace all glass including plate glass, other breakable
materials used in structural portions and any interior and exterior windows and
doors in the Leased Premises which may become damaged or broken.
16. Alterations: Lessee shall not attach any fixtures or other articles to any
portion of the Leased Premises nor shall Lessee make any major alterations,
additions, improvements or changes whatsoever therein without in each instance,
first obtaining the written consent from the Lessor, and in addition thereto,
Lessee shall furnish such indemnification against liens, costs, damages and
expenses as may be required by Lessor. All alterations, additions, improvements
and fixtures (other than trade fixtures), which may be made or installed upon
the Leased Premises shall remain upon and be surrendered with the Leased
Premises as a part thereof, at the termination of this Lease, provided, however,
that Lessor may request the removal of any thereof, at the cost and expense of
Lessee.
INITIALS _____ _____
17. Trade Fixtures: Lessee agrees, at Lesse's expense, to install all trade
fixtures and such fixtures shall remain the property of Lessee. Upon the
expiration of the tenancy hereby created, if Lessor so requests in writing,
Lessee shall promptly, remove any additions, fixtures, and installations placed
in the Leased Premises by Lessee and repair any damaged occasioned by such
removal all at Lessee's expense. All trade fixtures belonging to Lessee which
are or may be put into the Leased Premises during the term hereof, whether
exempt or not from sale under execution and attachment under the laws of the
State of Nebraska, shall at all times be subject to a firs lien in favor of
Lessor for all rent, additional rent or other sums which may become due to
Lessor from Lessee under this Lease.
18. Liens: Lessee hereby agrees to promptly pay for any work done or material
furnished in or about the Leased Premises and not to suffer or permit any lien
to attach hereto and indemnify and hold harmless Lessor and the Leased Premises
from any damages, costs, expenses, and liens relating thereto.
19. Utilities: Lessee shall make its own arrangements for the furnishing of
water, sewer use fees, gas, electricity, heat, telephone, and any other required
utility services to the Leased Premises and shall be solely responsible for the
payment of all charges therefore. Lessor shall not be liable for any
interruption in, or failure to supply any utility service. Metering costs to be
Lessee's.
20. Liability Insurance: Lessee agrees to procure and maintain continuously
during the entire term of this Lease, a policy or policies of insurance in a
company or companies acceptable to Lessor, at its own cost and expense, insuring
Lessor and Lessee from all claims, demands or actions; such comprehensive
insurance shall protect and be written showing the Lessee as the named insured
and shall provide coverage of at least $100,000 for injuries to any one person,
$300.000.00 for injuries to persons in any one accident and $100,000.00 for
damage to property, made by or on behalf of any person or persons, firm or
corporation arising from, related to, or connected with the conduct and
operation of Lessee's business in the Leased Premises, or arising out of and
connected with the use and occupancy of sidewalks and other Common Areas by the
Lessee. All such insurance shall provide that Lessor shall be given a minimum
of ten (10) days' notice by the insurance company prior to cancellation,
termination or change of such insurance.
Lessee shall provide Lessor with copies of the policies or certificates
evidencing that such insurance is in full force and effect and stating the terms
and provisions thereof. If Lessee fails to comply with such requirements for
insurance, as aforesaid, Lessor may, but shall not be obligated to do so, obtain
such insurance and keep the same in affect and Lessee agrees to pay Lessor, upon
demand, the premium cost thereof plus interest at the rate of fifteen percent
(15%) per annum.
Lessee shall not carry any stock of goods or do anything in or about the
Leased Premises which will in any way tend to increase insurance rates thereon
or on the building in which the same are located. If Lessor shall consent to
such use, Lessee agrees to pay as addition rental any increase in premiums for
insurance against loss by fire, or extended coverage risks resulting from the
increased risk. If Lessee installs any electrical equipment that overloads the
power lines to the building, Lessee shall at its own expense, make whatever
changes are necessary to comply with the requirements of insurance underwriters,
insurance rating bureaus, utilities companies and governmental authorities
having jurisdiction.
21. Taxes on Lessee's Property: Lessee shall be liable for all taxes levied
against personal property and trade fixtures placed by Lessee in or about the
Leased Premises.
22. Real Property Taxes and Insurance Premiums: Lessee agrees to pay to Lessor
on demand, as additional rent, within ten (10) days from Lessee's receipt of
billing by Lessor, without set offs or deductions and without further notice or
demand, the following:
(a) Lessor agrees to pay before they become delinquent all real estate taxes
and special assessments lawfully levied or assessed against the above
described premises; however, Lessor may, at its expense, contest and dispute
the same and in such case the disputed item need not be paid until finally
adjudged to be valid. Lessee's liability under this Section shall be to pay
to the Lessor, as additional rent, within ten (10) days of demand and
presentation of photocopies of the tax statements and other written evidence
by Lessor, the product of the mathematical equation obtained by multiplying
the real estate tax by the Lessee's proportionate share as described in
Paragraph 13.
(b) Lessee's proportionate share of all real estate charges and insurances
expenses, described in paragraph 20, and Lessees's Common Area Maintenance
charges described in paragraph 13, during the Lease term shall be paid in
monthly installments on or before the first day of each calendar month in
advance, in an amount estimated by Lessor to be $343.00 per month.
23. Partial damage to Leased Premises: In the event the Leased Premises are
damaged by fire or other casualty, insurable under standard extended coverage
insurance, to the extent of twenty-five percent (25%) or less of the insurable
value of the Leased Premises, the damage shall promptly be repaired by Lessor,
at his cost and expense. If the casualty, the repairing or the rebuilding shall
render the Leased Premises not fit for occupancy either in whole or in part, a
proportionate abatement of the rent shall be allowed from the date of the
happening of the event causing the damage until the date when the Leased
Premises are again made fit for occupancy, said proportionate abatement to be
computed on the basis of the relation which the square foot areas of the space
in the Leased Premises rendered unfit for occupancy bears to the total square
foot area of the Leased Premises.
INITIALS _____ _____
24. Substantial Damage to Leased Premises and Building of Either Election: In
the event of any damage by fire or other casualty insurable under extended
coverage insurance.
(a) The Leased Premises shall be damaged to the extent of more than twenty-
five percent (25%) or
(b) The building in which the Leased Premises are located is damaged to the
extent of fifty percent (50%) or more of the cost of replacement of said
building, then in any such events, Lessor may elect either to repair or rebuild
the Leased Premises or the building in which the Leased Premises are situated or
to terminate this Lease, either of such election to be made by the giving of
written notice to such effect by Lessor to Lessee within sixty (60) days after
the date of the happening of the event causing the damage. If the casualty, the
repairing or the rebuilding shall render the Leased Premises not fit for
occupancy either in whole or in part, a proportionate abatement of the rent
shall be allowed from the date of the happening of the event causing the damage
until the date when the Leased Premises are again made fit for occupancy, said
proportionate abatement to be computed an the basis of the relation which the
square foot area of the space in the Leased Premises rendered unfit for
occupancy bears to the total square foot area of the Leased Premises.
25. Waiver of Damage: Lessor shall not be responsible for, nor liable to, Lessee
for any damage to the Leased Premises or to the Building in which the Leased
Premises are situated nor for any delay in repairing or rebuilding or inability
to repair or rebuild nor any other cause whatsoever beyond Lessor's control. All
property of the Lessee and all property kept stored or maintained in or upon the
Leased Premises, adjacent sidewalks, loading platform or other Common Areas
shall be at the sole risk of the Lessee.
26. Eminent Domain: If all the Leased Premises shall be taken under the right
of Eminent Domain by any public authority having the right to do so or if a
portion of the building is condemned preventing the practical use of the Leased
Premises for Lessee's purpose, this Lease, and all obligations hereunder, shall
terminate on the date title vests, pursuant to such proceedings In the event the
proper judicial authority does not divide the award to compensate the separate
loss of each party, the total award in such proceedings shall equitably be
distributed between the Lessor and Lessee, and if applicable, other Lessee's
occupying space in the building. If such taking does not prevent the practical
use of the Leased Premises for the purpose of the Lessee, then this Lease shall
continue.
27. Assignment by Lessee: Lessee shall not assign or in any manner transfer
this Lease or any interest therein nor sublet the Leased Premises or any part or
parts thereof, nor permit occupancy by anyone with, through of under it.
28. Entry by Lessor: Lessee agrees that Lessor, its agents, employees or
servants or any person authorized by Lessor may enter the Leased Premises for
the purpose of inspecting the condition of the same and to make such repairs,
additions, improvements, changes or alterations thereto or to the building of
which they are a part as Lessor may elect to make and to exhibit the same to
prospective purchasers of the building, in which the Premises are contained, and
to prospective Lessee's and to place in and upon said Leased Premises at such
places as may be determined by Lessor. "For Rent" signs, or notices, at any
time within ninety (90) days of termination of this Lease and Lessee undertakes
and agrees that neither Lessee nor any person within Lessee's control will
interfere with such signs and notices.
29. Holding Over: In the event Lessee remains in possession of the Leased
Premises after the expiration of the tenancy created hereunder, and without the
execution of a new Lease, it shall be deemed to be, occupying the Leased
Premises as a Lessee from month to month and shall pay as a monthly rent, two
times the rent specified for this tenancy and such holding over shall be subject
to and under and pursuant to all the other terms, conditions provisions and
obligations of the Lease in so far as the same are applicable to a month-to-
month tenancy. If the Leased Premises are not surrendered at the end of the
term, Lessee shall indemnify Lessor against loss or liability resulting from
delay by Lessee in so surrendering the Leased Premises, including, without
limitation; any claims made by any succeeding Lessee founded on such delay.
30. Notices: All notices and demands required or permitted to be given under
this Lease to Lessee shall be given in writing, be deposited in the United
States mail, certified and postage prepaid, and addressed to Lessee at the
Leased Premises, whether or not Lessee has departed from, abandoned or vacated
the Leased Premises. All notices and demands required or permitted to be given
under this Lease to Lessor shall be given in writing, be deposited in the United
States mail, certified and postage prepaid and addressed to Lessor, R&D Company,
Inc., 5709 "F" Street, Xxxxx, XX 00000, or at such other address as Lessor may
give to Lessee in writing from time to time.
31. Subordination: Lessee agrees that this Lease is, and shall be subordinate
to any mortgage, deed of trust or any other hypothecation for security which has
been or which hereafter may be placed by the Lessor upon said Leased Premises or
the land or building of which the Leased Premises are a part and such
subordination is hereby effective and self-operative without any further act by
Lessee. Notwithstanding the foregoing, Lessee agrees to execute upon demand,
any and all xxxxxx documents or instruments in addition to the Lease, which may
be deemed necessary or desired to effectuate such subordination.
32. Lien on Lessee's Property: Any and all property of every kind belonging to
the Lessee and located upon the premises at any time during the tem of this
Lease or any extension or renewal thereof, whether acquired by the Lessee before
or after the execution of this Lease, and whether or not exempt from sale under
execution or attachments under the laws of Nebraska, shall at all times be
subject to and bound with a first lien in favor of Lessor to secure the due
payment of all rents and the performance of all obligations of the Lessee
hereunder. Such lien may be enforced in the same manner as a security interest
as provided in the Uniform Commercial Code or in any other manner permitted by
law.
33. Default by Lessee: All covenants and agreements herein made and obligations
assumed are to be construed also as condition and these presents are agreed to
upon the express condition that if Lessee should fail to pay when due any of the
aforesaid installments of rent or late charges, or should fail to perform or
observe any of the covenants, agreements or obligations herein made or assumed
by Lessee, or if Lessee shall become insolvent or bankrupt, recast or modify
Lessee's debts or obligations or delay payment thereof or if any assignment be
made of Lessee's property for the benefit of creditors then and thenceforth, in
any said events this Lease may be forfeited and thereby becomes null and void at
the option of the Lessor and the Lessor may immediately or at any time
thereafter reenter said Leased Premises, or any part thereof in the name of
whole or repossess and have the same as of Lessor's former estate and remove
therefrom all goods and chattels not thereto property belonging, and expel said
Lessee and all other persons who may be in possession of said Leased Premises
and that to, without demand or notice. It is agreed however, that the monthly
installment of rent provided for above shall not be deemed in default until five
(5) days after written notice of default has been given to Lessee and the no
default shall be declared for the failure to perform or observe any of the other
covenants, agreements or obligations made or assumed by the Lessee until said
Lessee is given notice in writinq of such breach, and shall fail to perform the
agreement called for, or remove the default within five (5) days after mailing
of such notice by Lessor.
In the event Lessor shall exercise the aforesaid option to terminate, he
shall be entitled to receive from the Lessee thereafter the diffence in rental,
herein reserved for the unexpired portion of the term and any lesser net amount
which Lessor, in the exercise of reasonable diligence, is able to procure for
the unexpired portion of the term, each monthly difference being a separate
cause of action, which may or may not be accumulated and joined in one action at
Lessor's option. This right so reserved by the Lessor and granted by Lessee
constitute an essential part of the consideration for the Lessor's agreement to
Lease the said premises to Lessee, and the said reserved right may be exercised
in any of the contingencies provided for by this Lease, that is to say for the
violation and non-observance of any of the undertakings to be kept, observed, or
performed by the Lessee, its successors, or assigns.
34. Not Joint Venture, Etc.: Nothing herein contained shall be deemed or
construed by the parties hereto nor by any third party, as creatinq the
relationship of principal and agent or of partnership or of joint venture
between the parties hereto, it being understood and agreed that neither the
payment of additional rent nor other provisions contained herein, nor any acts
of the parties hereto, shall be deemed to create any relationship between the
parties hereto other that the relationship of Lessor and Lessee.
35. Strict Performance: The failure to insist upon strict performance by Lessee
of any of the covenants, conditions and agreements of the Lease shall not be
deemed a waiver of any of Lessor's rights or remedies and shall not be deemed a
waiver of any subsequent breach or default by Lessee of any of the covenants,
conditions and agreements of this Lease. No surrender of the Leased Premises
shall be accomplished by Lessor's acceptance of rental by any other means
whatsoever unless the same be evidenced by Lessor's written acceptance of such
as a surrender.
36. Lessor Not Responsible for Delays: Whenever a period of time is herein
provided for Lessor to do so or perform any act or thing, Lessor shall not be
liable or responsible for any delays due to strikes, riots, Acts of God,
shortages of labor or materials, national disasters, or any other cause not
dissimilar to those enumerated, beyond Lessor's reasonable control.
37. Peaceable Surrender: Lessee, upon expiration or termination of this Lease,
whether by lapse of time or otherwise, agrees peaceably to surrender to Lessor
the Leased Premises, including the alterations, additions, improvements, changed
and fixtures other than Lessee's movable trade fixtures in broom clean condition
and in good repair, except for Acts of God and ordinary wear and tear. Lessee
agrees at Lessor's requests to remove Lessee's trade fixtures upon any such
expiration or termination and repair all damage to the Leased Premises caused by
such removal. Lessee shall also surrender all keys for the Leased Premises to
Lessor at the place then fixed for payment of rent and shall inform Lessor of
combination locks, safes, and vaults, if any, on the Leased Premises.
38. Additional Construction: Lessor hereby reserves the right at any time to
make alterations or additions to, and to build additional stories on the
Building in which the Leased Premises are contained and to the construction
adjoining or adjacent to same which are herein referred to as "Building".
39. Estoppel Certificates: Lessee, from time to time upon written request from
Lessor, agrees to execute, acknowledge and deliver to Lessor, in form reasonably
satisfactory to Lessor and/or Lessor's mortgage, a written statement certifying
that Lessee has accepted the Leased Premises, that this Lease is unmodified and
in full force and effect (or, if there have been modifications, that this Lease
is in full force and effect as modified, setting forth the modifications), that
Lessor is not in default hereunder, the date to which the rent and other amounts
payable by Lessee have been paid in advance, if any, and such additional facts
as reasonably may be required by Lessor or Lessor's mortgages. Lessee
understands and agrees that any such statement delivered pursuant to this
section may be relied upon by any prospective purchaser of the Leased Premises
and their respective successors and assigns.
INITIALS _____ _____
40. Waiver of Claims: Each party hereto hereby waives any and all claims for
recovery which such party or anyone claiming through such party may have against
the other party hereto (or such other party's officers, agents or employees) for
or with respect to any loss or damage to such waiving party's property which is
insured under valid insurance policies, to the extent of any recovery actually
collectible under such insurance policies, whether or not such loss or damage is
caused by the negligence of such other party or such other party's agents,
employees, subtenants, concessionaires or licensees or of any other person or
persons for whose actions such other party may be responsible or liable;
provided, that the foregoing waiver shall be effective only when permitted by
the applicable insurance policy.
41. Cumulative Rights: The rights, options, elections and remedies of Lessor
contained in this Lease shall be cumulative and may be exercised on one or more
occasions; and none of them shall be construed as excluding any other or any
additional right, priority or remedy allowed or provided by law.
42. Time of Essence: Unless otherwise specifically provided herein, time is of
the essence of this Lease, and all provisions of this Lease relating to the time
of performance of any obligation under this Lease shall be strictly construed.
43. Lessor's Right to Cure Default: Lessor may, but shall not be obligated to,
cure at any time, without notice, any default by Lessee under this Lease;
whenever Lessor so elects, all costs and expenses incurred by Lessor in curing a
default, including without limitation reasonable attorney fees, together with
interest on the amount of costs and expenses so incurred at the rate of fifteen
percent (15%) per annum, shall be paid by the Lessee to the Lessor on demand.
44. Lessor's Expenses: In the event any legal proceeding shall be brought for
the recovery of possession of the Leased Premises, for the recovery of rent, or
for any other amount due under the provisions of this Lease, or by reason of any
breach of any of the covenants herein contained, on the part of Lessee to be
kept or performed, such breach being established, Lessee shall pay the Lessor
all expenses incurred therefore, including reasonable attorney fees.
45. No Right of Set-Off. No default or claim of default on the part of the
Lessor shall entitle Lessee to withhold any sums due under the provisions of
this Lease. Lessee acknowledges and agrees that it has waived any remedy
permitting it to withhold rent or to claim an offset against such rent in the
event of any claim breach on the part of the Lessor.
46. Entire Agreement: Lessor and Lessee hereby agree that this Lease shall be
governed by and interpreted pursuant to the laws of the State of Nebraska.
Lessor and Lessee further agree that this Lease as written, including exhibits,
represent the entire agreement between the parties hereto and that there are not
other agreements, written or verbal, between the parties hereto pertaining to
the Leased Premises or to the subject matter thereof and that all prior
agreements, negotiations and understandings are hereby merged in this Lease.
This Lease may not be amended or supplemented orally but only by an agreement in
writing which has been sighed by the party against whom enforcement of any such
amendment or supplement is sought.
47. Advertising: Lessee agrees to use the name of the Plaza 120 in any and all
advertising it does.
48. Net Lease: This is a net-net-net Lease and the parties agree and understand
that the Lessor will suffer to pay no expenses whatsoever for taxes, insurance,
gas, electric, water, sewer fee, improvements, repairs, changes or alterations,
special assessments, levies, management fees not exceeding 5% of gross rents
collected, or other charges against the real estate whatsoever, but that Lessee,
shall pay its proportionate share of the said real estate taxes, special
assessments, charges, common area charges, insurance and all other expenses in
the proportion as shown above in paragraph 13.
49. Signage: Lessee shall be responsible for installation of its signage which
signage shall be approved by lessor prior to installation. All expenses
associated with installation and removal of sign shall be home by lessee. At
termination of lease, lessee shall remove its sign from the premises.
50. Brokers: Commercial Realty, Inc. is the licensed real estate broker
representing the Lessor.
The _______________________ is the licensed real estate broker
representing the Lessee.
51. Additional Provisions: Lessor will finish the interior of the premises per
attached Exhibit B. Finish shall be comparable to that of Commercial Realty
offices.
INITIALS _____ _____
IN WITNESS WHEREOF, the parties hereto have executed this Lease this 15th day of
January, 1999.
Lessor: 90th St., LLC
_____________________________
By Xxxxx X. Xxxxxx, President
Lessee: Global Entertainment Holdings/Equities, Inc.
/s/Xxxxx X. Xxxxxx
By: President
