TEXAS ASSOCIATION OF REALTORS* IMPROVED PROPERTY COMMERCIAL LEASE USE OF THE FORMS BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS IS NOT AUTHORIZED *Texas Association of REALTORS
TEXAS
ASSOCIATION OF REALTORS*
IMPROVED
PROPERTY COMMERCIAL LEASE
USE
OF THE FORMS BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS
IS NOT AUTHORIZED
*Texas
Association of REALTORS
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1.
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PARTIES:
The parties to this lease are the owner of the Property Xxxx
& Xxxxxx Xxxx dba P & S Properties LLC(Landlord) and
the
tenant Xxxxxxx
Machine Works Inc.Subsidiary of Excalibur
Industries
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2.
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LEASED
PREMISES: Landlord leases to Tenant the following described real
property,
known as the “leased premises,” along with all its
improvements:
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Number
Bldg.
“D”
(suite
or unit),
containing approximately 25,500
square
fee of rentable area, located within the 0000
Xxxxxxxxxx Xxxx(building
or complex name)
on the
land known as 00000
XX 0000 Xxxxxx, XX
(address,
city, state)
which
is legally described as Or ______________________ £
as
described on attached exhibit. “Property” means the building or complex in which
the leased premises are located, inclusive of any common areas, drives, parking
areas, and walks. The parties agree that the rentable area of the leased
premises may not equal the actual or useable area within the leased premises
and
may include an allocation of common areas in the Property.
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3.
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TERM:
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X.
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Xxxx:
The term of this lease is 60 months,
commencing on July
1st,
2004(Commencement
Date) and ending on June
30th,
2009 (Expiration
Date).
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X.
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Xxxxx
of Occupancy:
If Tenant is unable to occupy the leased premises on the Commencement
Date
because of construction on the leased premises to be completed
by Landlord
that is not substantially complete or a prior tenant’s holding over of the
leased premises, Landlord will not be liable to Tenant for such
delay and
this lease will remain enforceable. In the event of such a delay,
the
Commencement Date will automatically be extended to the date Tenant
is
able to occupy the Property and the Expiration Date will also be
extended
by a like number of days, so that the term of this lease remains
unchanged. If Xxxxxx is unable to occupy the leased premises after
the
30th
day after the Commencement Date because of construction on the
leased
premises to be completed by Landlord that is not substantially
complete or
a prior tenant’s holding over of the leased premises, Tenant may terminate
this lease by giving written notice to Landlord before the leased
premises
become available to be occupied by Tenant and Landlord will refund
to
Tenant any amounts paid to Landlord by Tenant. This Paragraph 3B
does not
apply to any delay in occupancy caused by cleaning or
repairs.
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4.
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RENT
AND EXPENSES:
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A.
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Base
Monthly Rent:
On or before the first day of each month during this lease, Tenant
will
pay Landlord base monthly rent in the amount of 22,600.00.
The first full base monthly rent is due on or before August
1st,
2004
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*NOTE:
Tenant to pay the $3,000.00 extra rent toward last months
payment.
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B.
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Prorated
Rent:
If the Commencement Date is on a day other than the first day of
a month,
Tenant will pay Landlord as prorated rent, an amount equal to the
base
monthly rent multiplied by the following fraction; the number of
days from
the Commencement Date to the first day of the following month divided
by
the number of days in the month in which this lease commences.
The
prorated rent is due on or before the Commencement
Date.
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C.
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Additional
Rent:
In addition to any base monthly rent or prorated rent, Tenant will
pay
landlord all other amounts as provided by the
attached:
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£
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(1)
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Net
Addendum
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£
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(2)
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Percentage
Rent Addendum
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£
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(3)
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Expense
Reimbursement Addendum
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£
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(4)
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Expense
Addendum for Single-Tenant Property
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£
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(5)
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Parking
Addendum
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£
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(6)
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1
Commercial
Lease concerning: 12060
XX 0000 Xxxxxx, XX
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D.
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Place
of Payment:
Tenant will remit all amounts due Landlord under this lease to
P
& S Properties LLC at
00000
Xxxxxxx Xxxx Xxxxxx, Xx. 00000
or
to such other person or at such other place as Landlord may designate
in
writing.
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E.
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Method
of Payment:
Tenant must pay all rent timely without demand, deduction, or offset,
except as permitted by law or this lease. Time is of the essence
for the
payment of rent. If Tenant falls to timely pay any amounts due
under this
lease or if any check of Tenant is returned to landlord by the
institution
on which it was drawn, Landlord may require Tenant to pay, in addition
to
any other available remedy, all amounts due under this lease by
certified
funds by providing written notice to Tenant.
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F.
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Late
Charges:
If Landlord does not actually
receive
a
rent payment at the designated place of payment within 5 days after
the
date the rent is due, Tenant will pay Landlord a late charge equal
to 5%
of the base monthly rent. The mailbox is not the agent for receipt
for
Landlord. The late charge is a cost associated with the collection
of rent
and Landlord’s acceptance of a late charge does not waive Landlord’s
rights to exercise remedies under Paragraph 20.
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G.
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Returned
Checks:
Tenant will pay $25.00
(not
to exceed $25)
for each check Tenant tenders to Landlord which is returned by
the
institution on which it is drawn for any reason, plus any late
charges
until Xxxxxxxx receives payment.
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5.
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SECURITY
DEPOSIT: Upon execution of this lease, Tenant will pay a security
deposit
to Landlord in the amount of ______________ . Landlord may apply the
security deposit to any amounts owed by Tenant under this Lease.
If
Landlord applies any part of the security deposit during any time
this
lease is in effect to amounts owed by Tenant, Tenant must, within
10 days
after receipt of notice from Landlord, restore the security deposit
to the
amount stated. Within a reasonable time after this lease ends,
Xxxxxxxx
will refund the security deposit to Tenant less any amounts applied
toward
amounts owed by Tenant
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6.
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TAXES:
Unless otherwise agreed by the parties, Landlord will pay all real
property ad valorem taxes assessed against the leased premises.
Tenant to
pay inventory taxes.
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7.
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UTILITIES:
Tenant will pay all charges for the use of all utility services
to the
leased premises and any connection charges except the following
which will
be paid by Landlord.
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NOTICE:
Tenant should determine if any and all necessary utilities (e.g.,
water,
gas, electricity, telephone, sewer, etc.) are available to the
leased
premises, are adequate for Tenant’s intended use, and the cost to provide
the necessary utilities.
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8.
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TENANT’S
INSURANCE:
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A.
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During
all times this lease is in effect, Tenant must maintain in full
force and
effect
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(1)
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public
liability insurance from an insurer acceptable to Landlord in an
amount
not less than $1,000,000.00
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$1,000,000.00 on
an occurrence basis naming Landlord as an additional insured;
and
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(2)
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personal
property damage insurance for Tenant’s business operations on the leased
premises from an insurer acceptable to Landlord in an amount not
less
than
on an occurrence basis.
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B.
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Before
the Commencement Date, Tenant must provide Landlord with a copy
of the
insurance certificates evidencing the required coverage. If the
Insurance
coverage changes in any manner or degree at any time this lease
is in
effect, Tenant must provide Landlord a copy of an insurance certificate
evidencing such change within 10 days of the change.
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C.
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If
Tenant fails to maintain the required insurance in full force and
effect
at all times this lease is in effect, Landlord may: (1) purchase
such
insurance on behalf of Tenant and Tenant must immediately reimburse
Landlord for such expense; or (2) exercise Landlord’s remedies under
Paragraph 20.
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D.
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If
there is an increase in Landlord’s insurance premiums for the leased
premises or Property or its contents that is caused by Tenant,
Tenant’s
use of the leased premises, or any improvements made by or for
Tenant,
Tenant will, for each year this lease is in effect, pay Landlord
the
increase immediately after Landlord notifies Tenant of the
increase.
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9.
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USE
AND HOURS: Tenant may use the leased premises for the following
purpose
and no other: Operation
of machine shop and work related to machine shop
operation.
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£
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X.
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Xxxxxx’s
Normal Business Hours:
Tenant’s normal business hours are (specify
hours, days of week, and if inclusive or exclusive of weekends
and
holidays):
7
days a week, 24 hrs. a day if
applicable Tenant
will keep the leased premises open substantially during Tenant’s normal
business hours.
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2
Commercial
Lease concerning: 12060
XX 0000 Xxxxxx, XX
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£
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B.
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Building
Operating Hours:
The building in which the leased premises are located maintains
operating
hours of (specify
hours, days of week, and if inclusive or exclusive of weekends
and
holidays):
7
days a week, 24 hr.s a day if
applicable
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If
Landlord is to provide HVAC services to the leased premises under
this
lease, Landlord is obligated to provide the HVAC services only
during the
specified building operating hours.
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10.
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LEGAL
COMPLIANCE:
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A.
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Tenant may not use or permit any part of the leased premises to
be used
for:
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(1)
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any
activity which is a nuisance or is offensive, noisy, or
dangerous;
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(2)
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any
activity that interferes with any other tenant’s normal business
operations or Landlord’s management of the Property;
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(3)
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any
activity that violates any applicable law, regulation, zoning ordinance,
restrictive covenant, governmental order, owners’ association rules,
tenants’ association rules, Landlord’s rules or regulations, or this
lease;
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(4)
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any
hazardous activity that would require any insurance premium on
the
Property or leased premises to increase or that would void any
such
insurance;
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(5)
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any
activity that violates any applicable federal, state, or local
law,
including but not limited to those laws related to air quality,
water
quality, hazardous materials, wastewater, waste disposal, air emissions,
or other environmental matters;
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(6)
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the
permanent or temporary storage of any hazardous material;
or
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(7)
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B.
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“Hazardous
material” means any pollutant, toxic substance, hazardous waste, hazardous
material, hazardous substance, solvent, or oil as defined by any
federal,
state, or local environmental law, regulation, ordinance, or rule
existing
as of the date of this lease or later enacted.
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C.
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Landlord
does not represent or warrant that the leased premises or Property
conform
to applicable restrictions, zoning ordinances, setback fines, parking
requirements, impervious ground cover ratio requirements, and other
matters that may related to Tenant’s intended use. Tenant
must satisfy itself that the leased premises may be used as Tenant
intends
by independently investigating all matters related to the use of
the
leased premises or Property. Xxxxxx agrees that it is not relying
on any
warranty or representation made by Landlord, Landlord’s agent, or any
broker concerning the use of the leased premises or
Property.
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11.
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SIGNS:
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A.
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Tenant
may not post or paint any signs at, on, or about the leased premises
or
Property without Landlord’s written consent. Landlord may remove any
unauthorized sign, and Tenant will promptly reimburse Landlord
for any
expense related to the removal of any unauthorized sign. Any authorized
sign must comply with all laws, restrictions, zoning ordinances,
and any
governmental order relating to signs on the leased premises or
Property.
Landlord may temporarily remove any authorized sign to complete
repairs or
alterations to the leased premises or the Property.
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B.
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By
providing written notice to Tenant before this lease ends, Landlord
may
require Tenant, upon move-out and at Tenant’s expense, to remove, without
damage to the Property or leased premises, any or all signs that
were
placed on the Property or leased premises by or at the request
of Tenant.
Any signs that Landlord does not require Tenant to remove and that
are
fixtures become the property of the Landlord and must be surrendered
to
Landlord at the time this lease
ends.
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12.
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ACCESS
BY LANDLORD:
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A.
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During
Tenant’s normal business hours Landlord may enter the leased premise for
any reasonable purpose, including but not limited to purposes for
repairs,
maintenance, alterations, and showing the leased premises to prospective
tenants or purchases. Landlord may access the leased premises after
Xxxxxx’s normal business hours with Xxxxxx’s permission or to complete
emergency repairs. Landlord will not unreasonably interfere with
Xxxxxx’s
business operations when accessing the leased premises.
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B.
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During
the last ______ days of this lease, Landlord may place a “For Lease” or
similarly worded sign in the leased
premises.
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| 13. |
MOVE-IN
CONDITION: Tenant has inspected the leased premises and accepts
it in its
present (as-is) condition unless expressly noted otherwise in this
lease.
Landlord
and any agent have made no express or implied warranties as to
the
condition or permitted use of the leased premises or Property.
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14.
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MOVE-OUT
CONDITION AND FORFEITURE OF TENANT’S PERSONAL
PROPERTY:
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A.
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At
the time this lease ends, Xxxxxx will surrender the leased premises
in the
same condition as when received, normal wear and tear excepted. Tenant
will have the leased premises in a clean condition free of all trash,
debris, personal property, hazardous materials, and environmental
contaminants. Before this lease ends, Tenant £
will T
will not provide Landlord with a report, by an environmental engineer
or
assessor acceptable to landlord, dated not earlier than 20 days before
the
date this lease ends that indicates that no hazardous material or
other
environmental hazard is on or affects the leased
premises.
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3
Commercial
Lease concerning: 12060
XX 0000 Xxxxxx, XX
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B.
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If
Tenant leases any personal property in the leased premises after
Xxxxxx
surrenders possession of the leased premises, Landlord may: (1) require
Tenant, at Tenant’s expense, to remove the personal property by providing
written notice to Xxxxxx; or (2) retain such personal property as
forfeited property to Landlord.
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C.
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“Surrender”
means vacating the leased premises and returning all keys and access
devices to Landlord. “Normal wear and tear” means deterioration that
occurs without negligence, carelessness, accident, or
abuse.
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D.
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By
providing written notice to Tenant before this lease ends, Landlord
may
require Tenant, upon move-out and at Tenant’s expense, to remove, without
damage to the Property or leased premises, any or all fixtures that
were
placed on the Property or leased premises by or at the request of
Tenant.
Any fixtures that Landlord does not require Tenant to remove become
the
property of the Landlord and must be surrendered to Landlord at the
time
this lease ends.
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15.
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MAINTENANCE
AND REPAIRS:
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A.
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Cleaning:
Tenant must keep the leased premises clean and sanitary and promptly
dispose of all garbage in appropriate receptacles.
£
Landlord T
Tenant will provide, at its expense, reasonable janitorial services
to the
leased premises.
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B.
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Repairs
of Conditions Caused by a Party:
Each party must promptly repair a condition caused, either intentionally
or negligently, by that party or that party’s guests, patrons, invitees,
contractors or permitted subtenants.
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Note:
Landlord will provide grounds maintenance, mowing, etc.
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C.
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Repair
and Maintenance Responsibility:
Except as provided by Paragraph 15B, the party designated below,
at its
expense, is responsible to maintain and repair the following specified
items in the leased premises. The specified items must be maintained
in:
(i) clean condition; (ii) good repair; and (iii) operable condition.
If a
modification to any of the specified items is required by law or
governmental regulation or order, the party designated to maintain
the
item must complete and pay the expense of the modification. The
specified items include and relate only to real property in the leased
premises.
Tenant is responsible for the repair and maintenance of its personal
property.
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N/A
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Landlord
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Tenant
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|||||
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(1)
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Foundation,
exterior walls, roof, and other structural components
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£
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T
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£
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(2)
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Glass
and windows
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£
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£
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T
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(3)
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Fire
protection equipment and fire sprinkler systems
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£
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£
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T
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(4)
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Exterior
& overhead doors, including closure devices, molding, locks, and
hardware
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£
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£
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T
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(5)
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Grounds
maintenance, including landscaping and ground sprinklers
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£
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T
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£
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|||
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(6)
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Interior
doors, including closure devices, frames, molding, locks, and
hardware
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£
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£
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T
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(7)
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Parking
areas and walks
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£
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£
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T
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(8)
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Plumbing
systems, drainage system, electrical systems (including ballast and
lamp
replacement) & mechanical systems, except those specifically
designated otherwise
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£
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£
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T
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(9)
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Heating
Ventilation and Air Conditioning (HVAC) systems
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£
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£
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T
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(10)
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Signs
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£
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£
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T
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(11)
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Extermination
and pest control, excluding wood-destroying insects
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£
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£
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T
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(12)
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Storage
yards and storage buildings
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£
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£
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T
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(13)
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Wood-destroying
insect treatment and repairs
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£
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£
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T
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(14)
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Cranes
and related systems
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£
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£
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T
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(15)
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Landlord
will warranty bldg., mechanical, etc. for 1 year (with the exceptionof
light bulbs)
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£
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£
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£
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|||
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(16)
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All
repairs thereafter will be @ the Tenant’s expense.
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£
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£
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£
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|||
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(17)
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all
other items and systems.
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£
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£
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£
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4
Commercial
Lease concerning: 12060
XX 0000 Xxxxxx, XX
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D.
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Repair
Persons:
Repairs must be completed by trained, qualified, and insured repair
persons.
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E.
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HVAC
Service Contract:
If Tenant is responsible to maintain the HVAC system, Tenant £
is
T
is
not required to maintain, at its expense, a regularly scheduled
maintenance and service contract for the HVAC system. The maintenance
and
service contract must be purchased from a HVAC maintenance company
that
regularly provides such contracts to similar properties. If Tenant
fails
to maintain a required HVAC maintenance and service contract in effect
at
all times during this lease, Landlord may do so and charge Tenant
the
expense of such a maintenance and service contract or exercise Landlord’s
remedies under Paragraph 20.
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F.
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Common
Areas:
Landlord will maintain any common areas in the Property in a manner
as
Landlord determines to be in the best interest of the Property. Landlord
will maintain any elevator and signs in the common area. Landlord
may
change the access to the leased premises. If a modification to the
common
areas is required by law or governmental regulation or order, Landlord
will modify the item. Tenant has the non-exclusive license to use
the
common areas in compliance with Landlord’s rules and restrictions. Tenant
may not solicit any business in the common areas or interfere with
any
other person’s right to use the common areas.
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G.
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Notice
of Repairs:
Tenant must promptly notify Landlord of any item that is in need
of repair
and that is Landlord’s responsibility to repair. All requests for repairs
to landlord must be in writing.
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H.
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Failure
to Repair:
Landlord must make a repair for which Landlord is responsible within
a
reasonable period of time after Tenant provides Landlord written
notice of
the needed repair. If Tenant fails to repair or maintain an item
for which
Tenant is responsible within 10 days after Landlord provides Tenant
written notice of the needed repair or maintenance, Landlord may:
(1)
repair or maintain the item, without liability for any damage or
loss to
Tenant, and Xxxxxx must immediately reimburse Landlord for the cot
to
repair or maintain; or (2) exercise Landlord’s remedies under Paragraph
20.
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16.
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ALTERATIONS:
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A.
|
Tenant
may not alter, improve, or add to the Property or the leased premises
without Landlord’s written consent. Landlord will not unreasonably
withhold consent for the Tenant to make reasonable alterations,
modifications, or improvements to the leased premises.
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B.
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Tenant
may not alter any locks or any security devices on the Property or
the
leased premises without Landlord’s consent. If Landlord authorizes the
changing, addition, or rekeying of any locks or other security devices,
Tenant must immediately deliver the new keys and access devices to
Landlord.
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C.
|
If
a governmental order requires alteration or modification to the leased
premises, the party obligated to maintain and repair the item to
be
modified or altered as designated in Paragraph 15 will, at its expense,
modify or alter the item in compliance with the order.
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D.
|
Any
alterations, improvements, fixtures or additions to the Property
or leased
premises installed by either party during the term of this lease
will
become Landlord’s property and must be surrendered to Landlord at the time
this lease ends, except for those fixtures Landlord requires Tenant
to
remove under Paragraph 14 or if the parties agree otherwise in
writing
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17.
|
LIENS:
Tenant may not do anything that will cause the title of the Property
or
leased premises to be encumbered in any way. If Tenant causes a
lien to be
filed against the Property or leased premises, Tenant will within
20 days
after Landlord demands Tenant to take action to remove the lien,
pay the
lien or take whatever action is necessary to cause the lien to
be released
of record. Tenant will provide Landlord a copy of any release Tenant
obtains pursuant to this paragraph.
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18.
|
LIABILITY:
To
the extent permitted by law, Landlord is NOT responsible to Tenant
or
Tenant’s employees, patrons, guests, or invittees for any damages,
injuries, or losses to person or property caused
by:
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A.
|
an
act, omission, or neglect of: Tenant; Xxxxxx’s agent; Xxxxxx’s guest;
Tenant’s employees; Xxxxxx’s patrons; Xxxxxx’s invitees; or any other
tenant on the Property;
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B.
|
fire,
flood, water leaks, ice, snow, hail, winds, explosion, smoke, riot,
strike, interruption of utilities, theft, burglary, robbery, assault,
vandalism, other persons, environmental contaminants, or other occurrences
or casualty losses.
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19.
|
INDEMNITY:
Tenant
will indemnify and hold Landlord harmless from any property damage,
personal injury, suits, actions, liabilities, damages, cost of
repairs or
service to the leased premises or Property, or any other loss caused,
negligently or otherwise, by Tenant or Tenant’s employees, patrons,
guests, or invitees.
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20.
|
DEFAULT:
|
|
A.
|
If
Landlord fails to comply with this lease within 30 days after Tenant
notifies Landlord of Landlord’s failure to comply, Landlord will be in
default and Tenant may seek any remedy provided by law. If, however,
Xxxxxxxx’s non-compliance reasonably requires more than 30 days to cure,
Landlord will not be in default if the cure is commenced within the
30 day
period and is diligently pursued.
|
5
Commercial
Lease concerning: 12060
FM 3000 Xxxxxx, XX
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B.
|
If
Landlord does not actually receive at the place designated for payment
any
rent due under this lease within 5 days after it is due, Tenant will
be in
default. If Xxxxxx fails to comply with this lease for any other
reason
within 10 days after Landlord notifies Tenant of its failure to comply,
Tenant will be in default.
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C.
|
If
Tenant is in default, Landlord may: (i) terminate Tenant’s right to occupy
the leased premises by providing Tenant with at least 3 days written
notice; and (ii) accelerate all rents which are payable during the
remainder of this lease or any renewal period without notice or demand.
Xxxxxxxx will attempt to mitigate any damage or loss caused by Xxxxxx’s
breach. If Tenant is in default, Tenant will be liable
for:
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(1)
|
any
lost rent;
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(2)
|
Landlord’s
cost of relating the leased premises, including brokerage fees,
advertising fees, and other fees necessary to relet the leased
premises;
|
|
(3)
|
repairs
to the leased premises for use beyond normal wear and tear,
|
|
(4)
|
all
Landlord’s costs associated with eviction of Tenant, such as attorney’s
fees, court costs, and prejudgment interest;
|
|
(5)
|
all
Landlord’s costs associated with collection of rent such as collection
fees, late charges, and returned check charges;
|
|
(6)
|
cost
of removing any equipment and trade-fixtures left on the leased premises
by Xxxxxx;
|
|
(7)
|
cost
to remove any trash, debris, personal property, hazardous materials,
or
environmental contaminants left by Tenant or Tenant’s employees, patrons,
guests, or invitees in the leased premises or Property;
and
|
|
(8)
|
any
other recovery to which Landlord may be entitled by
law.
|
|
21.
|
ABANDONMENT,
INTERRUPTION OF UTILITIES, REMOVAL OF TENANT’S PROPERTY, AND LOCKOUT:
Chapter 93 of the Texas Property Code governs the rights and obligations
of the parties with regard to: (a) abandonment of the leased premises;
(b)
interruption of utilities; (c) removal of Tenant’s personal property; and
(d) “lock-out” of Tenant.
|
|
22.
|
HOLDOVER:
If Tenant fails to vacate the leased premises at the time this
lease ends,
Tenant will become a tenant-at-will and must vacate the leased
premises
immediately upon receipt of a demand from Landlord. No holding
over by
Xxxxxx, with or without the consent of Landlord, will extend this
lease.
Tenant will indemnify Landlord and any prospective tenants for
any and all
damages caused by the holdover. Rent for any holdover period will
be 2
times the base monthly rent plus any additional rent calculated
on a daily
basis and will be immediately due and payable daily without notice
or
demand.
|
|
23.
|
LANDLORD’S
LIEN AND SECURITY INTEREST: To secure Xxxxxx’s performance under this
lease, Tenant
grants to Landlord a lien and security interest against all of
Tenant’s
nonexempt personal property that is in the leased premises or
Property.
This lease is a security agreement for the purposes of the Uniform
Commercial Code, Landlord may file a copy of this lease as a financing
statement.
|
|
24.
|
ASSIGNMENT
AND SUBLETTING: Tenant may not assign this lease or sublet any
part of the
leased premises without Xxxxxxxx’s written consent,. An assignment of this
lease or subletting of the leased premises without Landlord’s written
consent is voidable by Landlord. If Tenant assigns this lease or
sublets
any part of the leased premises, Tenant will remain liable for
all of
Tenant’s obligations under this lease regardless if the assignment or
sublease is made with or without the consent of
Landlord.
|
|
25.
|
|
|
26.
|
SUBORDINATION:
|
|
A.
|
This
lease and Tenant’s leasehold interest are and will be subject,
subordinate, and inferior to:
|
|
(1)
|
any
lien, encumbrance, or ground lease now or hereafter placed on the
leased
premises or the Property by Landlord;
|
|
(2)
|
all
advances made under any such lien, encumbrance, or ground
lease;
|
|
(3)
|
the
interest payable on any such lien or encumbrance;
|
|
(4)
|
any
and all renewals and extensions of any such lien, encumbrance, or
ground
lease;
|
|
(5)
|
any
restrictive covenant affecting the leased premises or the Property;
and
|
|
(6)
|
the
rights of any owners’ association affecting the leased premises or
Property.
|
6
Commercial
Lease concerning: 12060
FM 3000 Xxxxxx, XX
|
X.
|
Tenant
must, on demand, execute any instrument subordinating this lease
as
Landlord may request, provided that such subordination is made on
the
condition that this lease and Tenant’s rights under this lease are
recognized by the lien-holder.
|
|
27.
|
ESTOPPEL
CERTIFICATES: Within 10 days after receipt of a written request
from
Landlord, Xxxxxx will execute and deliver to Landlord an estoppel
certificate that identifies: (a) when this lease commences and
ends; (b)
any amendments to this lease; (c) any rights that Tenant may have
to
extend this lease or purchase the Property or leased premises;
(d) any
default by Landlord; and (e) any other information reasonably requested
in
the certificate.
|
|
28.
|
CASUALTY
LOSS:
|
|
X.
|
Xxxxxx
must immediately notify Landlord of any casualty loss in the leased
premises. Within 20 days after receipt of Xxxxxx’s notice of casualty
loss, Landlord will notify Tenant if the leased premises are less
than or
more than 50% unusable, on a per square foot basis, and if Landlord
can
substantially restore the leased premises within 120 days after Tenant
notifies Landlord of the casualty loss.
|
|
B.
|
If
the leased premises are less than 50% unusable and Landlord can
substantially restore the leased premises within 120 days after Tenant
notifies Landlord of the casualty, Landlord will restore the leased
premises to substantially the same condition as before the casualty.
If
Landlord fails to substantially restore within the time required,
Tenant
may terminate this lease.
|
|
C.
|
If
the leased premises are more than 50% unusable and Landlord can
substantially restore the leased premises within 120 days after Tenant
notifies Landlord of the casualty, Landlord may: (1) terminate this
lease;
or (2) restore the leased premises to substantially the same condition
as
before the casualty. If Landlord chooses to restore and does not
substantially restore the leased premises within the time required,
Tenant
may terminate this lease.
|
|
X.
|
Xx
Xxxxxxxx notifies Tenant that Landlord cannot substantially restore
the
leased premises within 120 days after Tenant notifies Landlord of
the
casualty loss, Landlord may: (1) choose not to restore and terminate
this
lease; or (2) choose to restore, notify Tenant of the estimated time
to
restore, and give Tenant the option to terminate this lease by notifying
Landlord within 10 days.
|
|
E.
|
If
this lease does not terminate because of a casualty loss, rent will
be
reduced from the date Tenant notifies Landlord of the casualty loss
to the
date the leased premises are substantially restored by an amount
proportionate to the extent the leased premises are
unusable.
|
|
29.
|
CONDEMNATION:
If after a condemnation or purchase in lieu of condemnation the
leased
premises are totally unusable for the purposes stated in this lease,
this
lease will terminate. If after a condemnation or purchase in lieu
of
condemnation the leased premises are partially unusable for the
purposes
stated in this lease, this lease will continue and rent will be
reduced in
an amount proportionate to the extent the leased premises are unusable.
Any condemnation award or proceeds in lieu of condemnation are
the
property of Landlord and Xxxxxx has no claim to such proceeds or
award.
Tenant may seek compensation from the condemning authority for
the moving
expenses and damages to Xxxxxx’s personal property.
|
|
30.
|
ATTORNEY’S
FEES: Any person who is a prevailing party in any legal proceeding
brought
under or related to the transaction described in this lease is
entitled to
recover prejudgment interest, reasonable attorney’s fees, and all other
costs of litigation from this nonprevailing party.
|
|
31.
|
REPRESENTATIONS:
Tenant’s statements in this lease and any application for rental are
material representations relied upon by Landlord. Each party signing
this
lease represents that he or she is of legal age to enter into a
binding
contract and is authorized to sign the lease. If Tenant makes any
misrepresentation in this lease or in any application for rental,
Tenant
is in default. Landlord is not aware of any material defect on
the
Property that would affect the health and safety of an ordinary
person or
any environmental hazard on or effecting the Property that would
affect
the health or safety of an ordinary person,
except:
|
|
32.
|
BROKER’S
FEES:
|
|
A.
|
N/A
(broker
A) represents
|
|
|
£
Landlord
|
£
Tenant. Broker A’s fees will be paid pursuant to (choose 1 or
2):
|
|
| £ (1) a separate written agreement between Broker A and £ Landlord £ Tenant £ Broker ____ | ||
|
£
(2)
the attached Addendum for Broker’s
Fee.
|
||
7
Commercial
Lease concerning: 12060
FM 3000 Xxxxxx, XX
|
X.
|
__________________________________________________________________(Broker
B) represents
|
|
£
|
Landlord
|
£
Tenant. Broker B’s fees will be paid pursuant to (choose 1 or
2):
|
||
|
£
|
(1)
a separate written agreement between Broker B and
|
£
Landlord
|
£
Tenant
|
£
Broker ____
|
| £ |
(2)
the attached Addendum for Broker’s Fee.
|
|||
|
C.
|
__________________________________________________________________(Broker
C) represents
|
|
£
Landlord
|
£
Tenant. Broker C’s fees will be paid pursuant to (choose 1 or
2):
|
|
| £ (1) a separate written agreement between Broker C and £ Landlord £ Tenant £ Broker ____ | ||
| £ (2) the attached Addendum for Broker’s Fee. | ||
|
33.
|
ADDENDA:
Incorporated into this lease are the addenda, exhibits and other
information marked in the Addenda and Exhibit section of the Table
of
Contents. If Xxxxxxxx’s Rules and Regulations are made part of this lease,
Xxxxxx agrees to comply with the Rules and Regulations as Landlord
may, at
its discretion, amend from time to
time.
|
|
A.
|
Entire
Agreement:
This lease contains the entire agreement between Landlord and Tenant
and
may not be changed except by written agreement.
|
|
B.
|
Binding
Effect:
This lease is binding upon and inures to the benefit of the parties
and
their respective heirs, executors, administration, successors, and
permitted designs.
|
|
C.
|
Joint
and Several:
All Tenants are jointly and severally liable for all provisions of
this
lease. Any act or notice to, or refund to, or signature of, any one
or
more of the Tenants regarding any term of this lease, its renewal,
or its
termination is binding on all Tenants.
|
|
D.
|
Controlling
Law:
The laws of the State of Texas govern the interpretation, performance,
and
enforcement of this lease.
|
|
E.
|
Several
Clauses:
If any clause in this lease is found invalid or unenforceable by
a court
of law, the remainder of this lease will not be affected and all
other
provisions of this lease will remain valid and
enforceable.
|
|
F.
|
Waiver:
Landlord’s delay, waiver, or non-enforcement of acceleration, contractual
or statutory lien, rental due date, or any other right will not be
deemed
a waiver of any other or subsequent branch by Tenant or any other
term in
this lease.
|
|
G.
|
Quiet
Enjoyment:
Provided that Tenant is not in default of this lease, Landlord covenants
that Tenant will enjoy possession and use of the leased premises
free from
serious interference.
|
|
H.
|
Force
Majeure:
If Xxxxxxxx’s performance of a term in this lease is delayed by strike,
lock-out, shortage of material, governmental restriction, riot, flood,
or
any cause outside Landlord’s control, the time for Xxxxxxxx’s performance
will be abated until after the
delay.
|
|
35.
|
NOTICES:
All notices under this lease must be in writing and are effective
when
hand-delivered, sent by mail, or sent by facsimile transmission
to:
|
|
Tenant
|
Landlord
|
|
|
at
the address of the leased premises.
|
at
11449
Outpost Cove
|
|
|
Xxxxxx,
Xx. 77318
|
||
|
Fax:
(000)
000-0000
|
||
|
with
a copy to:
|
with
a copy to:
|
|
|
at
|
at
|
|
|
Fax:
|
Fax:
|
|
36.
|
SPECIAL
PROVISIONS: Upon completion of the 60 month lease, Tenant may have
the
option to purchase the property & building at fair market value or an
agreeable purchase price between owner & Tenant. Tenant must give the
owner an advance notice of 180 days if tenant wishes to purchase
or
continue the lease at that
time.
|
Real
estate brokers are not qualified to tender legal advice, property inspections,
surveys, engineering studies (e.g. studies of the structures, drainage, and
soil
conditions), environmental assessments, tax advice, financial advice, or
inspections to determine compliance with zoning, governmental regulations,
or
any law (e.g., ADA, Texas Architectural Barriers Statute, etc.). The parties
should seek experts to render such services. Selection of such experts is the
responsibility of the parties and not the real estate broker. The terms of
this
lease are negotiable among the parties. This is intended to be a legal agreement
binding upon final acceptance. READ IT CAREFULLY. If you do not understand
the
effect of this lease, consult your attorney BEFORE signing.
|
/s/ Xxxx
X. Xxxx Xxxxxxxxx
|
4-8-04
|
/s/
Xxxxx X. Xxxxxxx
|
4/8/04
|
|
| Landlord |
Date
|
Tenant
|
Date
|
|
|
|
|
|
||
|
By
|
||||
|
ss
|
for
Landlord
|
Tenant
|
Date
|
8
