Exhibit 6(i)
Lease Naples, Florida
COMMERCIAL LEASE
THIS LEASE is made between Xxxxxxx X. Xxxxx of 0000 Xxxxxxxx, Xxxx Xxxxxx,
XX 00000, herein called Lessor, and QRS Music Rolls, Inc., of 0000 Xxxxxxx
Xxxxxx, Xxxxxxx, XX 00000, herein called Lessee.
Lessee hereby offers to lease from Lessor the premises situated in the City
of Naples, County of Xxxxxxx, State of Florida, described as Facilities at 0000
Xxxxxx Xxxxxx, upon the following TERMS and CONDITIONS:
1. Term and Rent. Lessor demises the above premises for a term of twenty
years, commencing January 1, 1993, and terminating o December 31, 2012, or
sooner as provided herein at the annual rent of Twenty Four Thousand Dollars
($24,000.00), payable in equal installments in advance on the first day of each
month for that month's rental, during the term of this lease. All rental
payments shall be made to Lessor, at the address specified above.
2. Use. Lessee shall use and occupy the premises for the operation of a
manufacturing, installation and sales facility. The premises shall be used for
no other purpose. Lessor represents that the premises may lawfully be used for
such purpose.
3. Care and Maintenance of Premises. Lessee acknowledges that the premises
are in good order and repair, unless otherwise indicated herein. Lessee shall,
at his own expense and at all times, maintain the premises in good and safe
condition, including plate glass, electrical wiring, plumbing and heating
installations and any other system or equipment upon the premises and shall
surrender the same, at termination hereof, in as good condition as received,
normal wear and tear excepted. Lessee shall be responsible for all repairs
required, excepting the roof, exterior walls, structural foundations which shall
be maintained by Lessor. Lessee shall also maintain in good condition such
portions adjacent to the premises, such as sidewalks, driveways, lawns and
shrubbery, which would otherwise be required to be maintained by Lessor.
4. Alternations. Lessee shall not, without first obtaining the written
consent of Lessor, make any alterations, additions, or improvements, in, to or
about the premises.
5. Ordinances and Statutes. Lessee shall comply with all statutes,
ordinances and requirements of all municipal, state and federal authorities now
in force, or which may hereafter be in force, pertaining to the premises,
occasioned by or affecting the use thereof by Lessee.
6. Assignment and Subletting. Lessee shall not assign this lease or sublet
any portion of the premises without prior written consent of the Lessor, which
shall not be unreasonably withheld. Any such assignment or subletting without
consent shall be void and, at the option of the Lessor, may terminate this
lease.
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7. Utilities. All applications and connections for necessary utility
services on the demised premises shall be made in the name of Lessee only, and
Lessee shall be solely liable for utility charges as they become due, including
those for sewer, water, gas, electricity, and telephone services.
8. Entry and Inspection. Lessee shall permit Lessor or Lessor's agents to
enter upon the premises at reasonable times and upon reasonable notice, for the
purpose of inspecting the same, and will permit Lessor at any time within sixty
(60) days prior to the expiration of this lease, to place upon the premises and
usual "To Let" or "For Lease" signs, and permit persons desiring to lease the
same to inspect the premises thereafter.
9. Possession. If Lessor is unable to deliver possession of the premises at
the commencement hereof, Lessor shall not be liable for any damage caused
thereby, nor shall this lease be void or voidable, but Lessee shall not be
liable for any rent until possession is delivered. Lessee may terminate this
lease if possession is not delivered within _____ days of the commencement of
the term thereof.
10. Indemnification of Lessor. Lessor shall not be liable for any damage or
injury to Lessee, or any other person, or to any property, occurring on the
demised premises or any part thereof, and Lessee agrees to hold Lessor harmless
from any claims for damages, no matter how caused.
11. Insurance. Lessee, at his expense, shall maintain plate glass and
public liability insurance including bodily injury and property damage insuring
Lessee and Lessor with minimum coverage as follows:
Lessee shall provide Lessor with a Certificate of Insurance showing Lessor
as additional insured. The Certificate shall provide for a ten-day written
notice to Lessor in the event of cancellation or material change of coverage. To
the maximum extent permitted by insurance policies which may be owned by Lessor
or Lessee, Lessee and Lessor, for the benefit of each other, waive any and all
rights of subrogation which might otherwise exist.
12. Eminent Domain. If the premises or any part thereof or any estate
therein, or any other part of the building materially affecting Lessee's use of
the premises, shall be taken by eminent domain, this lease shall terminate on
the date when title vests pursuant to such taking. The rent, and any additional
rent, shall be apportioned as of the termination date, and any rent paid for any
period beyond that date shall be repaid to Lessee. Lessee shall not be entitled
to any part of the award for such taking or any payment in lieu thereof, but
Lessee may file a claim for any taking of fixtures and improvements owned by
Lessee, and for moving expenses.
13. Destruction of Premises. In the event of a partial destruction of the
premises during the term hereof, from any cause, Lessor shall forthwith repair
the same, provided that such repairs can be made within sixty (60) days under
existing governmental laws and regulations, but such partial destruction shall
not terminate this lease, except that Lessee shall be entitled to a
proportionate reduction of rent while such repairs are being made, based upon
the extent to which
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the making of such repairs shall interfere with the business of Lessee on the
premises. If such repairs cannot be made within said sixty (60) days, Lessor, at
his option, may make the same within a reasonable time, this lease continuing in
effect with the rent proportionately abated as aforesaid, and in the event that
Lessor shall not elect to make such repairs which cannot be made within sixty
(60) days, this lease may be terminated at the option of either party. In the
event that the building in which the demised premises may be situated is
destroyed to an extent of not less than one-third of the replacement costs
thereof, Lessor may elect to terminate this lease whether the demised premises
be injured or not. A total destruction of the building in which the premises may
be situated shall terminate this lease.
14. Lessor's Remedies on Default. If Lessee defaults in the payment of
rent, or any additional rent, or defaults in the performance of any of the other
covenants or conditions hereof, Lessor may give Lessee notice of such default
and if Lessee does not cure any such default within 90 days, after the giving of
such notice (or of such other default is of such nature that it cannot be
completely cured within such period, if Lessee does not commence such curing
within such 30 days and thereafter proceed with reasonable diligence and in good
faith to cure such default), then Lessor may terminate this lease on not less
than 90 days' notice to Lessee. On the date specified in such notice the term of
this lease shall terminate, and Lessee shall then quit and surrender the
premises to Lessor, but Lessee shall remain liable as hereinafter provided. If
this lease shall have been so terminated by Lessor, Lessor may at any time
thereafter resume possession of the premises by any lawful means and remove
Lessee or other occupants and their effects. No failure to enforce any term
shall be deemed a waiver.
15. Security Deposit. Lessee shall deposit with Lessor on the signing of
this lease the sum of ______ Dollars ($0.00) as security for the performance of
Lessee's obligations under this lease, including without limitation the
surrender of possession of the premises to Lessor as herein provided. If Lessor
applies any part of the deposit to cure any default of Lessee, Lessee shall on
demand deposit with Lessor the amount so applied so that Lessor shall have the
full deposit on hand at all times during the term of this lease.
16. Tax Increase. In the event there is any increase during any year of the
term of this lease in the City, County or State real estate taxes over and above
the amount of such taxes assessed for the tax year during which the term of this
lease commences, whether because of increased rate or valuation, Lessee shall
pay to Lessor upon presentation of paid tax bills an amount equal to ____% of
the increase in taxes upon the land and building in which the leased premises
are situated. In the event that such taxes are assessed for a tax year extending
beyond the term of the lease, the obligation of Lessee shall be proportionate to
the portion of the lease term included in such year.
17. Common Area Expenses. In the event the demised premises are situated in
a shopping center or in a commercial building in which there are common areas,
Lessee agrees to pay his pro-rate share of maintenance, taxes, and insurance for
the common area.
18. Attorney's Fees. In case suit should be brought for recovery of the
premises, or for any sum due hereunder, or because of any act which may arise
out of the possession of the premises, by either party, the prevailing party
shall be entitled to all costs incurred in connection with such action,
including a reasonable attorney's fee.
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19. Waiver. No failure of Lessor to enforce any term hereof shall be deemed
to be a waiver.
20. Notices. Any notice which either party may or is required to give,
shall be given by mailing the same, postage prepaid, to Lessee at the premises,
or Lessor at the address specified above, or at such other places as may be
designated by the parties from time to time.
21. Heirs, Assigns, Successors. This lease is binding upon and inures to
the benefits of the heirs, assigns and successors in interest to the parties.
22. Option to Renew. Provided that Lessee is not in default in the
performance of this lease, Lessee shall have the option to renew the lease for
an additional term of twelve months commencing at the expiration of the initial
lease term. All of the terms and conditions of the lease shall apply during the
renewal term except that the monthly rent shall be the sum of $2,000.000. The
option shall be exercised by written notice given to Lessor not less than 90
days prior to the expiration of the initial lease term. If notice is not give in
the manner provided herein within the time specified, this option shall expire.
23. Subordination. This lease is and shall be subordinated to all existing
and future liens and encumbrances against the property.
24. Entire Agreement. The foregoing constitutes the entire agreement
between the parties and may be modified only by a writing signed by both
parties. The following Exhibits, if any, have been made a part of this lease
before the parties' execution thereof:
Signed this 1st day of January 1993.
By: By:
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Xxxxxxx X. Xxxxx, Lessee
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