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EXHIBIT 10.8
STANDARD COMMERCIAL LEASE
ARTICLE 1.00 BASIC LEASE TERMS
1.01 PARTIES. This lease agreement ("Lease") is entered in to by and between the
following Lessor and Lessee:
BELTLINE QUAKER LIMITED PARTNERSHIP ("Lessor")
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PERFORMANCE PRINTING CORPORATION, a Texas corporation ("Lessee")
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1.02 LEASED PREMISES. In consideration of the rents, terms, provisions and
covenants of this Lease, Lessor hereby leases and demises to the Lessee the
following described premises (leased premises)
24,648 (5,226 office) (Approximate sq. ft.) 1197781 (Job no)
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QUAKER COURT I (Name of building or project)
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0000 Xxxxxx (Xxxxxx address/suite number)
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Xxxxxx, Xxxxx 00000 (City, State, and Zip )
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1.03 TERM. Subject to and upon the conditions set forth herein, the term of this
Lease shall commence on (_____________________the "commencement date") (the
completion date on______________ (the "completion date", which Lessor shall use
its best efforts to establish as October 1, 1994), and shall terminate 38 months
thereafter.
1.04 BASE RENT AND SECURITY DEPOSIT. Base rent is $5,341 per month. Security
Deposit is $5,341
1.05 ADDRESSES. Lessor's Address Lessee's Address
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0000 Xxxxxxxx Xxxxxxx, 5th Floor 1174 Xxxxxx
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Xxxxxx 00000 Xxxxxx, Xxxxx
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1.06 PERMITTED USE SCREEN PRINTING U.V. coating thermo-forming. and
manufacturing of point of purchase displays.
ARTICLE 2.00 RENT
2.01 BASE RENT. Lessee agrees to pay monthly as base rent during the term of
this Lease the sum of money set forth in section 1. 04 of this Lease, which
amount shall be payable to Lessor at the address shown above. One monthly
installment of rent shall be due and payable on the date of execution of this
Lease by Lessee for the first month's rent and a like monthly installment shall
be due and payable on or before the first day of each calendar month succeeding
the commencement date or completion date during the term of this Lease;
provided, if the commencement date or the completion date should be a date other
than the first day of a calendar month, the monthly rental set forth above shall
be prorated to the end of that calendar month, and all succeeding installments
of rent shall be payable on or before the first day of each succeeding calendar
month during the term of this Lease. NOTWITHSTANDING THE FORGOING, LESSOR HEREBY
WAIVES THE BASE MONTHLY RENT FOR MONTHS TWO AND THREE OF THE PRIMARY LEASE.
Lessee shall pay, as additional rent, all other sums due under this Lease.
2.02 OPERATING EXPENSES. In the event Lessor's operating expenses for the
building and/or project of which the leased premises are a part shall, in any
calendar year during the term of this Lease, exceed the sum of $________________
THE ACTUAL OPERATING EXPENSE per square foot FOR THE CALENDAR YEAR 1994,
INCLUDING COMMON AREA MAINTENANCE (CAM), Lessee agrees to pay as additional rent
Lessee's pro rata share of such operating expenses. Lessor may invoice Lessee
monthly for Lessee's pro rata share of the estimated operating expensed for each
calendar year, which amount shall be adjusted each year based upon anticipated
operating expenses. Within four months following the close of each calendar
year, Lessor shall provide Lessee an accounting showing in reasonable detail all
computations of additional rent due under this section. In the event the
accounting shows the total of the monthly payments made by Lessee exceeds the
amount of additional rent due by Lessee under this section, the accounting shall
be accompanied by a refund. In the event the accounting shows that the total of
the monthly payments are made by Lessee is less than the amount of additional
rent due by Lessee under this section, the account shall be accompanied by an
invoice for the additional rent. Notwithstanding any other provision in this
Lease, during the year in which the Lease terminates, Lessor, prior to the
termination date, shall have the option to invoice Lessee for Lessee's pro rata
share of the excess operating expenses based upon the previous year's operating
expenses. If this lease shall terminate on the day other than the last day of a
calendar year, the amount of any additional rent payable by Lessee applicable to
the year in which such termination shall occur shall be prorated on the ratio
that the number of days from the commencement of the calendar year to and
including the termination date bears to 365. Lessee shall have the right, at its
own expense and within a reasonable time, to audit Lessor's books relevant to
the additional rent payable under this section Lessee agrees to pay any
additional rent due under this section within ten days following receipt of the
invoice or accounting showing additional rent due.
2.03 DEFINITION OF OPERATING EXPENSES. The term "operating expenses" includes
all expenses incurred by Lessor with respect to the maintenance and operation of
the building of which the leased premises are a part, including, but not limited
to the following: maintenance, repair and replacement costs; security;
management fees, wages and benefits payable to employees of Lessor whose duties
are directly connected with the operation and maintenance of the building; all
services, utilities, supplies, repairs, replacements or other expends for
maintaining, and operating the common parking and plaza areas: all real property
taxes and installments of special assessments, including dues and assessments by
means of deed restrictions and/or owners' associations which accrue against the
building of which the leased premises are a part during the term of its Lease;
and all insurance premiums Lessor is required to pay or deems necessary to pay,
including public liability insurance, with respect to the building. The term
operating expenses does not include the following repairs, restoration or other
work occasioned by fire, wind, the elements or other casualty; income and
franchise taxes of Lessor expenses incurred in leasing to or procuring of
lessees, leasing commissions, advertising expenses and expenses for the
renovating of space for new lessees; interest or principal payment on any
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mortgage or other indebtedness of Lessor; compensation paid to any employee of
Lessor above the grade of property manager; any depreciation allowance or
expense; or operating expense which are the responsibility of Lessee.
2.04 LATE PAYMENT CHARGE. Other remedies for nonpayment of rent notwithstanding,
if the monthly rental payment is not received by lessor on or before the tenth
day of the month for which the rent is due, or if any other payment due Lessor
by Lessee is not received by Lessor on or before the tenth day of the month next
following the month in which Lessee was invoiced, a late payment charge of five
percent of such past due amount shall become due and payable in addition to such
amounts owed under this Lease.
2.05 INCREASE IN INSURANCE PREMIUMS. If an increase in any insurance premiums
paid by Lessor for the building is caused by Lessee's use of the leased premises
in a manner other than as set forth in section 1.06, or if Lessee vacates the
leased premises and causes an increase in such premiums, then Lessee shall pay
as additional rent the amount of such increase to Lessor.
2.06 SECURITY DEPOSIT. The security deposit set forth above shall be held by
Lessor for the performance of Lessee's covenants and obligations under this
Lease, it being expressly understood that the deposit shall not be considered an
advance payment of rental or a measure of Lessor's damage in case of default by
Lessee. Upon the occurrence of any event of default by Lessee or breach by
Lessee of Lessee's covenants under this Lease, Lessor may, from time to time,
without prejudice to any other remedy, use the security deposit to the extent
necessary to make good any arrears of rent, or to repair any damage or injury,
or pay any expenses or liability incurred by Lessee as a result of the event of
default or breach of covenant, and any remaining balance of the security deposit
shall be returned by Lessor to Lessee upon termination of this Lease. If any
portion of the security deposit is so used or applied. Lessee shall upon ten
days written notice from Lessor, deposit with Lessor by cash or cashier's check
an amount sufficient to restore the security deposit to its original amount.
2.07 HOLDING OVER. In the event that Lessee does not vacate the leased premises
upon the expiration or termination of this Lease, Lessee shall be a tenant at
will for the holdover period and all of the terms and provisions of this Lease
shall be applicable during that period, except that Lessee shall pay Lessor as
base rental for the period of such holdover an amount equal to one and one half
times the base rent which would have been payable by Lessee had the holdover
period been a part of the original term of this Lease. Lessee agrees to vacate
and deliver the leased premises to Lessor upon Lessee's receipt of notice from
Lessor to vacate. The rental payable during the holdover period shall be payable
to Lessor on demand. No holding over by Lessee, whether with or without the
consent of Lessor, shall operate to extend the term of this Lease.
ARTICLE 3.00 OCCUPANCY AND USE
3.01 USE. Lessee warrants and represents to Lessor that the leased premises
shall be used and occupied only for the purpose as set forth in section 1.06.
Lessee shall occupy the leased premises, conduct its business and control its
agents, employees, invitees and visitors in such a manner as is lawful,
reputable and will not create a nuisance. Lessee shall not permit any operation
which emits any odor or matter which intrudes into other portions of the
building, use any apparatus or machine which makes undue noise or causes
vibration in any portion of the building or otherwise interfere with, annoy or
disturb any other Lessee in its normal business operations or Lessor in its
management of the building. Lessee shall neither permit any waste on the leased
premises nor allow the leased premises to be used in any way which would, in the
opinion of Lessor, be extra hazardous on account of fire or which would in any
way increase or render void the fire insurance on the building. Lessee warrants
to Lessor that the Insurance questionnaire (filled out by Lessee, signed and
presented to Lessor prior to the execution of this Lease) accurately reflects
Lessee's s original intended use of the leased premises. The insurance
questionnaire is made a part of this Lease by reference as though fully copied
herein. If at any time during the term of this Lease the State Board of
Insurance or other insurance authority disallows any of Lessor's sprinkler
credits or imposes an additional penalty or surcharge in Lessor's insurance
premiums because of Lessee's original or subsequent placement or use of storage
racks or bins, method of storage or nature of Lessee's inventory or any other
act of Lessee, Lessee agrees to pay as additional rent the increase (between
fire walls) in Lessor's insurance premiums.
3.02 SIGNS. No sign of any type or description shall be erected, placed or
painted in or about the leased premises or project except those signs submitted
to Lessor in writing and approved by Lessor in writing, and which signs are in
conformance with Lessor's sign criteria established for the project.
3.03 COMPLIANCE WITH LAWS RULES AND REGULATIONS. Lessee, at Lessee's sole cost
and expense shall comply with all laws, ordinances orders, rules and regulations
of state, federal, municipal or other agencies or bodies having jurisdiction
over use, condition and occupancy of the leased premises. Lessee will comply
with the rules and regulations of the building adopted by Lessor which are set
forth on a schedule attached to this Lease. Lessor shall have the right at all
times to change and amend the rules and regulations in any reasonable manner as
may be deemed advisable for the safety, care, cleanliness, preservation of good
order and operation or use of the building or the leased premises. All changes
and amendments to the rules and regulations of the building will be sent by
Lessor to Lessee in writing and shall thereafter be carried out and observed by
Lessee.
3.04 WARRANTY OF POSSESSION. Lessor warrants that it has the right and authority
to execute this Lease, and Lessee, upon payment of the required rents and
subject to the terms, conditions, covenants and agreements contained in this
Lease, shall have possession of the leased premises during the full terms of
this Lease as well as any extension or renewal thereof. Lessor shall not be
responsible for the acts or omissions of any other lessee or third party that
may interfere with Lessee's use and enjoyment of the leased premises.
3.05 INSPECTION Lessor or its authorized agents shall at any and all reasonable
times have the right to enter the leased premises, to inspect the same to supply
janitorial service or any other service to be provided by Lessor, to show the
leased premises to prospective purchasers or lessees, and to alter, improve or
repair the leased premises or any other portion of the building. Lessee hereby
waives any claim for damages for injury or inconvenience to or interference with
Lessee's business, any loss of occupancy or use of the leased premises, and any
other loss occasioned thereby. Lessor shall at all times have and retain a key
with which to unlock all of the doors in, upon and about the leased premises.
Lessee shall not change Lessor's lock system or in any other manner prohibit
Lessor from entering the leased premises. Lessor shall have the right to use any
and all means which Lessor may deem proper to open any door in an emergency
without liability therefor.
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ARTICLE 4.00 UTILITIES AND SERVICE
4.01 BUILDING SERVICES Lessor shall provide the normal utility service
connection to the building. Lessee shall pay the cost of all utility services
including, but not limited to, initial connection charges all charges for gas,
electricity, water, sanitary and storm sewer service, and for all electric
lights. However, in a multi-occupancy building Lessor may provide water to the
leased premises in which case Lessee agrees to pay to Lessor its pro rata share
of the cost of such water. Lessee shall pay all costs caused by Lessee
introducing excessive pollutants or solids other than ordinary human waste into
the sanitary sewer system, including permits, fees and charges levied by any
governmental subdivision for any such pollutants or solids. Lessee shall be
responsible for the installation and maintenance of any dilution tanks, holding
tanks, settling ranks, sewer sampling devices, sand traps, grease traps or
similar devices as may be required by any governmental subdivision for Lessee's
use of the sanitary sewer system. If the leased premises are in a
multi-occupancy building Lessee shall pay all surcharges levied due to Lessee's
use of sanitary sewer or waste removal services insofar as such surcharges
affect Lessor or other lessees in the building. Lessor shall not be required to
pay for any utility services, supplies or upkeep in connection with the leased
premises or building.
4.02 THEFT OR BURGLARY. Lessor shall not be liable to Lessee for losses to
Lessee's property or personal injury caused by criminal acts or entry by
unauthorized persons into the leased premises or the building.
ARTICLE 5.00 REPAIRS AND MAINTENANCE
5.01 LESSOR REPAIRS. Lessor shall not be required to make any improvements,
replacements or repairs of any kind or character to the leased premises or the
project during the term of this Lease except as are set forth in this section.
Lessor shall maintain only the roof, foundation, parking and common areas, and
the structural soundness of the exterior walls (excluding windows, window glass,
plate glass and doors). Lessor's costs of maintaining the items set forth in
this section are subject to the additional rent provisions in section 2.02.
Lessor shall not be liable to Lessee, except as expressly provided in this
Lease, for any damage or inconvenience, and Lessee shall not be entitled to any
abatement or reduction of rent by reason of any repairs, alterations or
additional made by Lessor under this Lease.
5.02 LESSEE REPAIRS. Lessee shall, at its sole cost and expense, maintain,
repair and replace all other parts of the leased premises in good repair and
condition, including, but not limited to heating, ventilation and air
conditioning systems, down spouts, fire sprinkler system, dock bumpers, lawn
maintenance, pest control and extermination, trash pick-up and removal. Lessee
shall repair and pay for any damage caused by any act or omission of Lessee or
Lessee's agents, employees, invitees, licensees or visitors. If the leased
premises are in a multi-occupancy building or project, Lessor reserves the right
to perform, on be half of lessee, lawn maintenance. painting, and trash pickup
and removal; Lessee agrees to pay Lessor, as additional rent, Lessee's pro rata
share of the cost of such services within ten days from receipt of Lessor's
invoice, or Lessor may by monthly invoice direct Lessee to prepay the estimated
costs for the current calendar year, and such amount shall be adjusted annually.
If the leased premises are served by rail, Lessee agrees, if requested by the
railroad, to enter into a joint maintenance agreement with the railroad and bear
its pro rata share of the cost of maintaining the railroad spur. If Lessee fails
to make the repair, or replacements promptly as required herein, Lessor may, at
its option, make the repaint and replacements and the cost or such repairs and
replacements shall be charged to Lessee as additional rent and shall become due
and payable by Lessee within ten days from receipt of Lessor's invoice. Costs
incurred by Lessor under this section constitute operating expenses under
section 2.02.
5.03 REQUEST FOR REPAIRS. All requests for repairs or maintenance that are the
responsibility of Lessor pursuant to any prevision of the Lease must be made in
writing to Lessor at the address in Section 1.05.
5.04 LESSEE DAMAGES. Lessee shall not allow any damage to be committed on any
portion of the leased premises or building, and at the termination of this
Lease, by lapse of time or otherwise, Lessee shall deliver the leased premises
to Lessor in as good condition as existed at the commencement date of this
Lease, ordinary wear and tear excepted. The cost and expend of any repairs
necessary to restore the condition of the leased premises shall be borne by
Lessee.
5.05 MAINTENANCE CONTRACT. Lessee shall, at its sole cost and expense, during
the term of this Lease minimum a regularly scheduled preventative
maintenance/service contract with a maintenance contractor for the servicing of
all hot water, heating and air conditioning systems and equipment within the
leased premises. The maintenance contractor and contract must be approved by
Lessor and must include all services suggested by the equipment manufacturer.
ARTICLE 6.00 ALTERATIONS AND IMPROVEMENTS
6.01 LESSOR IMPROVEMENTS. If construction to the leased premises is to be
performed by Lessor prior to or during Lessee's, occupancy, Lessor will complete
the construction of the improvements to the leased premises, in accordance with
plans and specifications agreed to by Lessor , which plans and specifications
are made a part of this Lease by reference. Lessee shall execute a copy of the
plans and change orders, if applicable, setting forth the amount of any costs to
be borne by Lessee within seven days of receipt of the plans and specifications.
In the event Lessee fails to execute the plans and specifications and change
order within the seven day period, Lessor may, at its sole option, declare this
Lease canceled or notify Lessee that the base rent shall commence on the
completion date even though the improvement to be constructed by Lessor may not
be complete. Any changes or modifications to the approved plans and
specifications shall be made and accepted by written change order or agreement
signed by Lessor and Lessee and shall constitute an amendment to this Lease.
6.02 LESSEE IMPROVEMENTS. Lessee shall not make or allow to be made any
alterations or physical additions in or to the leased premises without first
obtaining the written consent of Lessor, which consent may in the sole and
absolute discretion of Lessor be denied. Any alterations, physical additions or
improvements to the leased premises made by Lessee shall at once become the
property of Lessor and shall be surrendered to Lessor upon the termination of
this Lease; provided, however, Lessor, at its option, may require Lessee to
remove any physical additions and/or repair any alterations in order to restore
the leased premises to the condition existing at the time Lessee took
possession, all costs of removal and/or alterations to be borne by Lessee. This
clause shall not apply to moveable equipment or furniture owned by Lessee, which
may be removal by Lessee at the end of the term of this Lease if Lessee is not
then in default and if such equipment and furniture are not then subject to any
other rights, liens and interest of lessor.
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6.03 MECHANICS LICENSE. Lessee will not permit any mechanic's or malterialman's
lien(s) or other lien to be placed upon the leased premises or the building and
nothing in the lease shall be deemed or construed in any way as constituting the
consent or request of Lessor, express or implied, by inference or otherwise, to
any person for the performance of any labor or the furnishing of any materials
to the leased premises, or any part thereof, nor as giving Lessee any right
power, or authority to contract for or permit the rendering of any services or
the furnishing of any materials that would give the rise to any mechanic's or
materialman's or other lien against the leased premises. In the event any such
lien is attached to the leased premises, then, in addition to any other right or
remedy of Lessor, Lessor may, but shall not be obligated to obtain the released
or otherwise discharge the same. Any amount paid by Lessor for any of the
aforesaid purposes shall be paid by Lessee to Lessor on demand as additional
rent
ARTICLE 7.00 CASUALTY AND INSURANCE
7.01 SUBSTANTIAL DESTRUCTION. If the leased premises should be totally destroyed
by fire or other casualty, or if the leases premises should be damaged so that
rebuilding cannot reasonably be completed within ninety working days after the
date of written notification by Lessee to Lessor of the destruction, this Lease
shall terminate and the rent shall be abated for the unexpired portion of the
Lease, effective as of the date of the written notification.
7.02 PARTIAL DESTRUCTION. If the leased premises should be partially dammed by
fire or other casualty, and rebuilding or repairs can reasonably be completed
within ninety working days from the xxxx of written notification by Lessee to
Lessor of the destruction, this lease shall not terminate, and Lessor shall at
its sole risk and expense proceed with reasonable diligence to rebuild or repair
the building or other improvements to substantially the same condition in which
they existed prior to the damage. If the leased premises are to be rebuilt or
repaired and are untenantable in whole or in part following the damage, and the
damage or destruction was not caused or contributed to by act of negligence of
Lessee, its agents, employees, invitees or those for whom Lessee is responsible,
the rent payable under this Lease during the period for which the leased
premises are untenantable shall be adjusted to such an extent as may be fair and
reasonable under the circumstances. In the event that Lessor fails to complete
the necessary repairs or rebuilding within ninety working days from the date of
written notification by Lessee to Lessor of the destruction, Lessee may at its
option terminate this lease by delivering written notice of termination to
Lessor, whereupon all rights and obligations under this Lease shall cease to
exist.
7.03 PROPERTY INSURANCE. Lessor shall at all times during the term of this Lease
maintain a policy or policies of insurance with the premiums paid in advance,
issued by and binding upon some solvent insurance company, insuring the building
against all risk of direct physical loss in an amount equal to at least ninety
percent or the full replacement cost of the building structure and its
improvements as of the date of the loss; provided, Lessor shall not be obligated
in any way or manner to insure any personal property (including, but not limited
to, any furniture, machinery, goods or supplies) of Lessee upon or within the
leased premises, any fixtures installed or paid for by Lessee upon or within the
leased premises, or any improvements which Lessee may construct on the leased
premises. Lessee shall have no right in or claim to the proceeds of any policy
of insurance maintained by Lessor even if the cost of such insurance is borne by
Lessee as set forth in article 2.00.
7.04 WAIVER OF SUBROGATION. Anything in this Lease to the contrary
notwithstanding. Lessor and Lessee are hereby waive and release each other of
and from any and all right of recovery, claim, action or cause of action,
against each other, their agents, officers and employees, for any loss or damage
that may occur to the leased premises, improvements to the building of which the
leased premises are a part, or personal property within the building, by reason
of fire or the elements, regardless of cause or origin, including negligence of
Lessor or Lessee and their agents, officers and employees. Lessor and Lessee
agree immediately to give their respective insurance companies which have issued
policies of insurance covering all risk of direct physical loss, written notice
of the terms of the mutual waivers contained in this section and to have the
insurance policies properly endorsed, if necessary, to prevent the invalidation
of the insurance coverages by reason of the mutual waivers.
7.05 HOLD HARMLESS. Lessor shall not be liable to Lessee's employees, agents,
invitees, licensees or visitors, or to any other person, for an injury to person
or damage to property on or about the leased premises caused by any act or
omission of Lessee, its agents, servants or employees or of any other person
entering upon the leased premises under express or implied invitation by Lessee,
or caused by the improvements located on the leased premises becoming out of
repair, the failure or cessation of any service provided by Lessor (including
security service and devices), or caused by leakage of gas, oil, water or stream
or by electricity emanating from the leased premises. Lessee agrees to indemnify
and hold harmless Lessor of and from any loss, attorney's fees, expenses or
claims arising out of any such damage or injury.
ARTICLE 8.00 CONDEMNATION
8.01 SUBSTANTIAL TAKING. If all or a substantial part of the leased premises are
taken for any public or quasi-public use under any governmental law, ordinance
or regulation, or by right of eminent domain or by purchase in lieu thereof, and
the taking would prevent or materially interfere with the use of the leased
premises for the purpose for which it is then being used, this Lease shall
terminate and the rent shall be abated during the unexpired portion of this
Lease effective on the date physical possession is taken by the condemning
authority. Lessee shall have no claim to the condemnation award or proceeds in
lieu thereof.
8.02 PARTIAL TAKING. If A portion of the leased premises shall he taken for any
public or quasi public use under governmental law, ordinance or regulation, or
by right of eminent domain or by purchase in lieu thereof, and this Lease is not
terminated as provided in the section 8.01 above, Lessor shall at Lessor's sole
risk and expense, restore and reconstruct the building and other improvements on
the leased premises to the extent necessary to make it reasonably tenantable .
The rent payable under this Lease during the unexpired portion of the term shall
be adjusted to such an extent as may be fair and reasonable under the
circumstances. Lessee shall have no claim to the condemnation award or proceeds
in lieu thereof.
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ARTICLE 9.00 ASSIGNMENT OR SUBLEASE
9.01 LESSOR ASSIGNMENT. Lessor shall have the right to sell, transfer or assign,
in whole or in part, its rights and obligations under this Lease and in the
building. Any such sale, transfer or assignment shall operate to release Lessor
from any and all liabilities under this lease arising after the date of such
sale, assignment or transfer.
9.02 LESSEE ASSIGNMENT. Lessee shall not assign in whole or in part, this Lease,
or allow it to be assigned, in whole or in part, by operation of law or or
mortgage or pledge the same or sublet the leased premises, in whole or in part,
without the prior written consent of Lessor, and in no event shall any such
assignment or sublease ever release Lessee or any guarantor from any obligation
or liability hereunder. No assignee or sublessee of the leased premises or any
portion thereof may assign or sublet the leased premises or any portion thereof.
9.03 CONDITIONS OF ASSIGNMENT. If Lessee desires to assign or sublet all or any
part of the leased premises, it shall so notify Lessor at least thirty days in
advance of the date on which Lessee desires to make such assignment or sublease.
Lessee shall provide Lessor with a copy of the proposed assignment or sublease
and such information as Lessor might request concerning the proposed sublessee
or assignee to allow, Lessor to make informed judgments as to the financial
condition, reputation, operations and general desirability of the proposed
sublessee or assignee. Within fifteen days after Lessor's receipt of Lessee's
proposed assignment or sublease and all required information concerning the
proposed sublessee or assignee, Lessor shall have the following options: (1)
[omitted] (2) consent to the proposed assignment or sublease and, if the rent
due and payable by any assigneee or sublessee under any such permitted
assignment or sublease (or a combination of the rent payable under such
assignment or sublease plus any bonus or any other consideration or any payment
incident thereto) exceeds the rent payable under this Lease for such space,
Lessee shall pay to Lessor all such excess rent and other excess consideration
within ten days following receipt thereof by Lessee; or (3) refuse, in its sole
and absolute discretion and judgement, to conceal to the proposed assignment or
sublease which refusal shall be deemed to have been exercised unless Lessor
gives lessee written notice providing otherwise. Upon the occurrence of an event
of default, if any or any part of the leased premises are then assigned or
sublet, Lessor, in addition to any other remedies provided by this case or
provided by law, may, at its option, collect directly from the assignee or
sublessee all rents becoming due to Lessee by reason of the assignment or
sublease, and Lessor shall have a security interest in all properties on the
leased premises to secure payment of such sums. Any collection directly, by
Lessor from the assignee or sublessee shall not be construed to constitute a
novation or a release of Lessee or any guarantor from the further performance of
its obligations under this Lease.
9.04 SUBORDINATION. Lessee accepts this Lease subject and subordinate to any
recorded mortgage or deed of trust lien presently existing or hereafter created
upon the building or project and to all existing recorded restrictions,
covenants, easements and agreements with respect to the building or project.
Lessor is hereby irrevocably vested with full power and authority to subordinate
Lessee's interest under this Lease to any first mortgage or deed of trust lien
hereafter placed on the leased premises, and Lessee agrees upon demand to
execute additional instruments subordinating this Lease as Lessor may require.
If the interests of Lessor under this Lease shall be transferred by reason of
foreclosure or other proceedings for enforcement of any first mortgage or deed
of trust lien on the leased premises, Lessee shall be bound to the transferee
(sometimes called the "Purchaser") at the option of the Purchaser, under the
terms, covenants and conditions of this Lease for the balance of the term
remaining, including any extensions or renewals, with the same force and effect
as if the Purchaser were Lessor under this Lease, and, if requested by the
Purchaser, Lessee agrees to attorn to the Purchaser, including the first
mortgagee under any such mortgage if it be the Purchaser, as its Lessor.
9.05 ESTOPPEL CERTIFICATES. Lessee agrees to furnish, from time to time, within
ten days after receipt of a request from Lessor or Lessor's mortgagee, a
statement certifying, if applicable, the following: Lessee is in possession of
the leased premises: the leased premises are acceptable; the Lease is in full
force and effect; the Lease is unmodified; Lessee claims no present charge,
lien, or claim of offset against rent the rent is paid for the current month,
but is not prepaid for more than one month and will not be prepaid for more than
one month in advance there is no existing default by reason of some act or
omission by Lessor; and such other matters as may be reasonably required by
Lessor or Lessor's mortgagee. Lessee's failure to deliver such statement, in
addition to being a default under this Lease, shall he deemed to establish
conclusively that this Lease is in full force and effect except as declared by
Lessor, that Lessor is not in default of any of its obligations under this Lease
and that Lessor has not received more than one month's rent in advance.
ARTICLE 10.00 LIENS
10.01 LANDLORD'S LIEN. As security for payment of rent, damages and all other
payments required to be made by this Lease, Lessee hereby grants to Lessor a
lien upon all property of lessee now or subsequently located upon the leased
premises. If Lessee abandons or vacates any substantial portion of the leased
premises or is in default in the payment of any rentals, damages or other
payments required to be made by, this Lease or is in default of any other
provision of this Lease, Lessor may enter upon the leased premises, by picking
or changing locks if necessary, and take possession of all or any part of the
personal property, and may sell all or any part of the personal property at a
public or private sale, in one or successive sales, with or without notice, to
the highest bidder for cash, and, on behalf of Lessee, sell and convey all or
part of the personal property to the highest bidder, delivering to the highest
bidder all of Lessee's title and interest in the personal property sold. The
proceeds of the sale of the personal property shall be applied by Lessor toward
the reasonable costs and expenses of the sale, including attorney's fees, and
then toward the payment of all sums then due by Lessee to Lessor under the terms
of this Lease. Any excess remaining shall be paid to Lessee or any other person
entitled thereto by law.
10.02 UNIFORM COMMERCIAL CODE. This Lease is intended as and constitutes a
security agreement within the meaning of the Uniform Commercial Code of the
state in which the leased premises are situated. Lessor, in addition to the
rights prescribed in this Lease, shall have all of the rights, titles, liens and
interests in and to Lessee's property, now or hereafter located upon the leased
premises, which may he granted a secured party, as that term is defined, under
the Uniform Commercial Code to secure to Lessor payment of all sums due and the
full performance of all Lessee's covenants under this Lease. Lessee will on
request execute and deliver to Lessor a financing statement for the purpose of
perfecting Lessor's security interest under this Lease or
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Lessor may file this Lease or a copy thereof as a financing statement. Unless
otherwise provided by law and for the purpose of exercising any right pursuant
to this section, Lessor and Lessee agree that reasonable notice shall be met if
such notice is given by ten days written notice, certified mail, return receipt
requested, to Lessor or Lessee at the addresses specified herein.
ARTICLE 11.00 DEFAULT AND REMEDIES
11.01 DEFAULT BY LESSEE. The following shall be deemed to be events of default
by Lessee under this Lease: ( 1 ) Lessee shall fail to pay, when due is any
installment of rent or any other payment required pursuant to this Lease AND
SUCH FAILURE IS NOT CURED WITHIN (10) CARS AFTER WRITTEN NOTICE TO LESSEE; (2)
Lessee shall abandon any substantial portion of the leased premises; (3) Lessee
shall fail to comply with any term, provision or covenant of this Lease, other
than the payment of rent, and the failure is not cured within ten days after
written notice to Lessee: (4) Lessee shall file a petition or be adjudged
bankrupt or insolvent under any applicable federal or state bankruptcy or
insolvency law, or admit that it cannot meet its financial obligations as they
become due; or a receiver or trustee shall be appointed for all or substantially
all of the assets of Lessee, or Lessee shall make a transfer in fraud of
creditors or shall make an assignment for the benefit of creditors; or (5)
Lessee shall do or permit to he done any act which results in a lien being filed
against the leased premises or the building and/or project of which the leased
premises are a part.
11.02 REMEDIES FOR LESSEE'S DEFAULT. Upon the occurrence of any event of default
set forth in this Lease, Lessor shall have the option to pursue any one or more
of the remedies set forth herein FOLLOWING THE WRITTEN NOTICE AND FAILURE TO
CURE STATED IN SECTION 11 01 OF THIS LEASE ( 1 ) Lessor may enter upon and take
possession of the leased premises, by picking or changing locks if necessary,
and lock out, expel or remove Lessee and any other person who may be occupying
all or any part of the leased premises without being liable for any claim for
damages, and relet the leased premises on behalf of Lessee and receive the rent
directly by reason of the reletting. Lessee agrees to pay Lessor on demand any
deficiency that may arise by reason of any reletting of the leased premises
further, Lessee agrees to reimburse Lessor for any expenditures made by it in
order relet the leased premises, including, but not limited to, repair costs.
(2) Lessor may enter upon the leased premises, by picking or changing locks if
necessary, without being liable for any claim for damages, and do whatever
Lessee is obligated to do under the terms of this Lease. Lessee agrees to
reimburse Lessor on demand for any expenses which Lessor may incur in effecting
compliance with Lessee's obligations under this Lease; further, Lessee agrees
that Lessor shall not be liable for any damages resulting to Lessee from
effecting compliance with Lessee's obligations under this Lease caused by the
negligence of Lessor or otherwise. (3) Lessor may terminate this Lease, in which
event Lessee shall immediately surrender the leased premises to Lessor, and if
Lessee fails to surrender the leased premises, Lessor may without prejudice to
any other remedy which it may have for possession or arrearages in rent, enter
upon and take possession of the leased premises, by picking or changing locks if
necessary, and lock out expel or remove Lessee and any other person who may be
occupying all or any part of the leased premises without being liable for any
claim for damages. Lessee agrees to pay on demand the amount of all loss and
damage which Lessor may suffer by reason of the termination of this Lease under
this section, whether through inability to relet the leased premises on
satisfactory terms or otherwise. Notwithstanding anything contained in this
Lease to the contrary, this Lease may be terminated by Lessor only by mailing or
delivering written notice of such termination to Lessee, and no other act or
omission of Lessor shall he construed as a termination of this Lease
ARTICLE 12.00 RELOCATION
12.01 RELOCATION OPTION. [omitted]
12.02 EXPENSES. [omitted]
ARTICLE 13.00 DEFINITIONS
13.01 ABANDON. "Abandon" means the vacating of all or a substantial portion of
the leased premises by Lessee, whether or not Lessee is in default of the rental
payments due under this Lease.
13.02 ACT OR GOD OR FORCE MAJEURE. An "act of God" or "force majeure" is defined
for purposes of this Lease as strikes, lockouts, sitdowns, material or labor
restrictions by any governmental authority, unusual transportation delays,
riots, floods, washouts, explosions, earthquakes, fire, storms, weather
(including wet grounds or inclement weather which prevents construction), acts
of the public enemy, wars, insurrections and any other cause not reasonably
within the control of Lessor and which by the exercise of due diligence Lessor
is unable, wholly or in part, to prevent or overcome.
13.03 BUILDING OR PROJECT. "Building" or "project" as used in this Lease means
the building and/or project described in section 1.02 including the leased
premises and the land upon which the building or project is situated.
13.04 COMMENCEMENT DATE. "Commencement date" shall be the date set forth in
section 1.03. The commencement date shall constitute the commencement of the
term of this Lease for all purposes, whether or not Lessee has actually taken
possession.
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13.05 COMPLETION DATE. "Completion date" shall be the date on which the
improvements erected and to be erected upon the leased premises shall have been
completed in accordance with the plans and specifications described in article
6.00. The completion date shall constitute the commencement of the term of this
Lease for all purposes, whether or not Lessee has actually taken possession
Lessor shall use its best efforts to establish the completion date as the date
set forth in section 1.03. In the event that the improvements have not in fact
been completed as of that date, Lessee shall notify Lessor in writing of its
objections. Lessor shall have a reasonable time after delivery of the notice in
which to take such corrective action as may be necessary and shall notify Lessee
in writing as soon as it deems such corrective action has been completed and the
improvements are ready for occupancy. Upon completion of construction, Lessee
shall deliver to Lessor a letter accepting the leased premises as suitable for
the purposes for which they are let and the date of such letter shall constitute
the commencement of the term of this Lease. Whether or not Lessee has executed
such letter of acceptance, taking possession of the leased premises by Lessee
shall be deemed to establish conclusively that the improvements have been
completed in accordance with the plans and specifications, are suitable for the
purposes for which the leased premises are let and that the leased premises are
in good and satisfactory condition as of the date possession was so taken by
Lessee, except for latent defects, if any.
13.06 SQUARE FEET. "Square feet" or "square foot" as used in this Lease includes
the area contained within the leased premises.
ARTICLE 14.00 MISCELLANEOUS
14.01 WAIVER. Failure of Lessor to declare an event of default immediately upon
its occurrence, or delay in taking any action in connection with an event of
default, shall not constitute a waiver of the default, but Lessor shall have the
right to declare the default at any time and take such action as is lawful or
authorized under this Lease. Pursuit of any one or more of the remedies set
forth in article 11.00 above shall not preclude pursuit of any one or more of
the other remedies provided elsewhere in this Lease or provided by law, nor
shall pursuit of any remedy constitute forfeiture or waiver of any rent or
damages accruing to Lessor by reason of the violation of any of the terms,
provisions or covenants of this Lease. Failure by Lessor to enforce one or more
of the remedies provided upon an event of default shall not be deemed or
construed to constitute a waiver of the default or of any other violation or
breach of any of the terms, provisions and covenants contained in this Lease.
14.02 ACT OF GOD. Lessor shall not be required to perform any covenant or
obligation in this Lease, or be liable in damages to Lessee, so long as the
performance or non-performance of the covenant or obligation is delayed, caused
or prevented enacted by an act of God, force majeure or by Lessee.
14.03 ATTORNEY'S FEES. In the event Lessee defaults in the performance of any of
the terms, covenants, agreements or conditions contained in this Lease and
Lessor places in the hands of an attorney the enforcement of all or any part of
this Lease, the collection of any rent due or to become due or recovery of the
possession of the leased premises, Lessee agrees to pay Lessor's costs of
collection, including reasonable attorney's fees for the services of the
attorney, whether suit is actually filed or not.
14.04 SUCCESSORS. This Lease shall be binding upon and inure to the benefit of
Lessor and Lessee and their respective heirs, personal representatives,
successors and assigns. It is hereby covenanted and agreed that should Lessor's
interest in the leased premises cease to exist for any reason during the term of
this Lease, then notwithstanding the happening of such event this Lease
nevertheless shall remain unimpaired and in full force and effect, and Lessee
hereunder agrees to attorn to the then owner of the leased premises.
14.05 RENT TAX. If applicable in the jurisdiction where the leased premises are
situated, Lessee shall pay and be liable for all rental sales and use taxes or
other similar taxes if any, if any levied or imposed by any city, state, county
or other governmental body by having authority, such payments to be in addition
to all other payments required to he paid to Lessor by Lessee under the terms of
this Lease. Any such payment shall be paid concurrently with the payment of the
rent, additional rent, operating expenses or other charge upon which the tax is
based as set forth above.
14.06 CAPTIONS. The captions appearing in this Lease are inserted only as a
matter of convenience and in no way define, limit, construe or describe the
scope or intent of any section.
14.07 NOTICE. All rent and other payments required to be made by Lessee shall be
payable to Lessor at the address set forth in section 1.05, or at any other
address within the United States as Lessee may specify from time to time by
written notice. Any notice or document required or permitted to be delivered by
the terms of this Lease shall be deemed to be delivered (whether or not actually
received) when deposited in the United States Mail, postage prepaid certified
mail, return receipt requested, addressed to the parties at the respective
addresses set forth in section 1.05.
14.08 SUBMISSION OF LEASE. Submission of this Lease to Lessee for signature does
not constitute a reservation of space or an option to lease. This Lease is not
effective until execution by and delivery to both Lessor and Lessee.
14.09 CORPORATE AUTHORITY. If Lessee executes this lease as a corporation, each
of the persons executing this Lease on behalf of Lessee does hereby personally
represent and warrant that lessee is a duly authorized and existing corporation,
that Lessee is qualified to do business in the state in which the leased
premises are located, that the corporation has full right and authority to enter
into this Lease, and that each person signing on behalf of the corporation is
authorized to do so. In the event any representation or warranty is false, all
persons who execute this Lease shall be liable, individually, as Lessee.
14.10 SEVERABILITY. If any provision of this Lease or the application thereof to
any person or circumstance shall be invalid or unenforceable to any extent, the
remainder of this Lease and the application of such provisions to other persons
or circumstances shall not be affected thereby and shall be enforced to the
greatest extent permitted by law.
14.11 LESSOR'S LIABILITY. If Lessor shall be in default under this Lease and, if
as a consequence of such default, Lessee shall recover a money judgment against
Lessor, such judgment shall be satisfied only out of the right, title and
interest of Lessor in the building as the same may then be encumbered and
neither Lessor nor any person or entity comprising Lessor shall be liable for
any deficiency. In no event shall Lessee have the right to levy execution
against any property of Lessor nor any person or entity comprising Lessor other
than its interest in the building as herein expressly provided.
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14.12 INDEMNITY. Lessor agrees to indemnify and hold harmless Lessee from and
against any liability or claim, whether meritorious or not, arising with respect
to any broker whose claim arises by, through or on behalf of Lessor, Lessee
agrees to indemnify and hold harmless Lessor from and against any liability or
claim, whether meritorious or not, arising with respect to any broker whose
claim arises by, through or on behalf of Lessee.
ARTICLE 15.00 AMENDMENT AND LIMITATION OF WARRANTIES
15.01 ENTIRE AGREEMENT. IT IS EXPRESSLY AGREED BY LESSEE, AS A MATERIAL
CONSIDERATION FOR THE EXECUTION OF THIS LEASE, THAT THIS LEASE, WITH THE
SPECIFIC REFERENCES TO WRITTEN EXTRINSIC DOCUMENTS, IS THE ENTIRE AGREEMENT OF
THE PARTIES; THAT THERE ARE, AND WERE, NO VERBAL REPRESENTATIONS, WARRANTIES,
UNDERSTANDINGS, STIPULATIONS, AGREEMENTS OR PROMISES PERTAINING TO THIS LEASE OR
TO THE EXPRESSLY MENTIONED WRITTEN EXTRINSIC DOCUMENTS NOT INCORPORATED IN
WRITING IN THIS LEASE.
15.02 AMENDMENT. THIS LEASE MAY NOT BE ALTERED, WAIVED, AMENDED OR EXTENDED
EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY LESSOR AND LESSEE.
15.03 LIMITATION OF WARRANTIES. LESSOR AND LESSEE EXPRESSLY AGREE THAT THERE ARE
AND SHALL BE NO IMPLIED WARRANTIES OF MERCHANTABILITY, HABITABILITY, FITNESS FOR
A PARTICULAR PURPOSE OR OF ANY OTHER KIND ARISING OUT OF THIS LEASE, AND THERE
ARE NO WARRANTIES WHICH EXTEND BEYOND THOSE EXPRESSLY SET FORTH IN THIS LEASE.
ARTICLE 16.00 OTHER PROVISIONS
16.01 OPERATING EXPENSE CAP (see attached Addendum I)
16.02 RENEWAL OPTION ( see attached Addendum I)
16.03 HVAC (see attached Addendum I)
16.04 LEASEHOLD IMPROVEMENTS (see attached Addendum I)
16.05 LAND LORD'S COOPERATION (see attached Addendum I)
16.06 HAZARDOUS WASTE (see attached Addendum II)
SIGNED at Dallas, TX this 22nd day of Sept. 1994.
LESSOR LESSEE
BELTLINE QUAKER LIMITED PARTNERSHIP, PERFORMANCE PRINTING CORPORATION,
Managing general partner a Texas corporation
By: s/Xxxxxxx X. Xxxxx/s By: s/Xxxx Xxxxx/s
--------------------------------- ------------------------------
Vice President Xxxx X. Xxxxx, C.E.O.
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RULES AND REGULATIONS
1. Lessor agrees to furnish Lessee two keys without charge. additional keys
will be furnished at a nominal charge. Lessee shall not change locks or
install additional locks on doors without prior written consent of
Lessor. Lessee shall not make or cause to be made duplicates of keys
procured from Lessor without prior approval of Lessor. All keys to leased
premises shall be surrendered to Lessor upon termination of this Lease.
2. Lessee will refer all contractors, contractor's representatives and
installation technicians rendering any service on or to the leased
premises for Lessee to Lessor for Lessor's approval before performance of
any contractual service. Lessee's contractors and installation
technicians shall comply with Lessor's rules and regulations pertaining
to construction and installation. This provision shall apply to all work
performed on or about the leased premises or project, including
installation of telephones, telegraph equipment, electrical devices and
attachments and installations of any nature affecting floors, walls,
woodwork, trim, windows, ceilings and equipment or any other physical
portion of the leased premises or project.
3. Lessee shall not at any time occupy any part of the leased premises or
project as sleeping or lodging quarters.
4. Lessee shall not place, install or operate on the leased premises or in
any part of the building any engine, stove or machinery, or conduct
mechanical operations or xxxx thereon or therein, or place or use in or
about the leased premises or project any explosives, gasoline, kerosene,
oil, acids, caustics, or any flammable, explosive or hazardous material
without written consent of Lessor.
5. Lessor will not be responsible for lost or stolen personal property,
equipment, money or jewelry from the leased premises or the project
regardless of whether such loss occurs when the area is locked against
entry or not.
6. No dogs, cats, fowl, or other animals shall be brought into or kept in or
about the leased premises or project.
7. Employees of Lessor shall not receive or carry messages for or to any
Lessee or other person or contract with or render free or paid services
to any Lessee or to any of Lessee's agents, employees or invitees.
8. None of the parking, plaza, recreation or lawn areas, entries, passages,
doors, elevators, hallways or stairways shall be blocked or obstructed or
any rubbish, filler, trash, or material of any nature pieced, emptied or
thrown into these areas or such area used by Lessee's agents, employees
or invitees at any time for purposes inconsistent with their designation
by Lessor.
9. The water closets and other water fixtures shall not be used for any
purpose other than those for which they were constructed, and any damage
to them from misuse or by the defacing or injury of any part of the
building shall be borne by the person who shall occasion it. No person
shall waste water by interfering with the faucets or otherwise.
10. No person shall disturb occupants of the building by the use of any
radios, record players, tape recorders, musical instruments, the making
of unseemly noises or any unreasonable use.
11. Nothing shall be thrown out of the windows of the building or down the
stairways or other passages.
12. Lessee and its employees, agents and invitees shall park their vehicles
only in those parking areas designated by Lessor. Lessee shall not leave
any vehicle in a state of disrepair (including without limitation, flat
tires, out of date inspection stickers or license plates) on the leased
premises or project. If Lessee or its employees, agents or invitees park
their vehicles in areas other than the designated parking areas or leave
any vehicle in a state of disrepair, Lessor, after giving written notice
to Lessee of such violation, shall have the right to remove such vehicles
at Lessee's expense.
13. Parking in a parking garage or area shall be in compliance with all
parking rules and regulations including any sticker or other
identification system established by Lessor. Failure to observe the rules
and regulations shall terminate Lessee's right to use the parking garage
or area and subject the vehicle in violation of the parking rules and
regulations to removal and impoundment. No termination of parking
privileges or removal of impoundment of a vehicle shall create any
liability on Lessor or be deemed to interfere with Lessee's right to
possession of its leased premises. Vehicles must be parked entirely
within the stall lines and all directional signs, arrows and posted speed
limits must be observed. Parking is prohibited in areas not striped for
parking, in aisles, where "No Parking" signs are posted, on ramps, in
cross hatched areas and in other areas as may be designated by Lessor.
Parking stickers or other forms of identification supplied by Lessor
shall remain the property of Lessor and not the property of Lessee and
are not transferable. Every person is required to park and lock his
vehicle. All responsibility for damage to vehicles or persons is assumed
by the owner of the vehicle or its driver.
14. [omitted]
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15. Lessor shall not be liable for any damages from the stoppage of elevators
for necessary or desirable repairs or improvements or delays of any sort
or duration in connection with the elevator service.
16. [omitted]
17. Lessee agrees to cooperate and assist Lessor in the prevention of
canvassing, soliciting and peddling within the building or project.
18. [omitted]
19. It is Lessor's desire to maintain in the building or project the highest
standard of dignity and good taste consistent with comfort and
convenience for Lessees. Any action or condition not meeting this high
standard should be reported directly to Lessor. Your cooperation will be
mutually beneficial and sincerely appreciated.
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ADDENDUM 1
16.01
OPERATING EXPENSE CAP
Except or real property taxes, insurance premiums, and utility charges
(including, but not limited to, electricity, fuel, water, sewer, gas, etc.) the
full pro rata share of which excess operating expenses Lessee shall pay as
stated in sections 2.02 and 2.03 of this Lease, Lessor agrees that Lessee shall
not pay, as its pro rata share of such excess operating expenses related to the
remaining operating expenses described in said sections 2.02 and 2.03, an amount
which is greater than one hundred ten percent (110%) of the amount of said
remaining excess operating expenses paid by Lessee for the next previous year.
16.02
RENEWAL OPTION
If, at the end of the primary term of this Lease, the Lessee is not in default
in any of the terms, conditions or covenants of the Lease, Lessee but not any
assignee or subtenant of Lessee, is hereby granted an option to renew this Lease
for an additional term of thirty six (36) months upon the same terms and
conditions contained in this Lease with the following exceptions:
A. The renewal option term will contain no further renewal options
unless expressly granted by its Lessor in writing and
B. The rental for the renewed term shall he based on the then
prevailing rental rates for properties of equivalent quality, size,
utility and location, with the length of the Lease term and credit
standing of the Lessee to be taken into account.
If Lessee desires to renew this Lease, Lessee will notify the Lessor of its
intention to renew no later than (6) months prior to the expiration date of the
lease; Lessor shall, within the next fifteen (15) days notify Lessee in writing
of the proposed renewal rate and the Lessee shall within the next fifteen (15)
days following receipt of the proposed rate, notify the Lessor in writing of its
acceptance or rejection of the proposed rental rate. Rejection of the proposed
rental rate terminates any renewal option pursuant to this paragraph.
16.03
HVAC
Effective upon the commencement date of this Lease, Lessor agrees to provide the
heating units in good working order and lessee shall hare ninety (90) days after
commencement date to report, in writing, any deficiencies in the above system,
which Landlord agrees to repair or replace at Landlord's sole cost and expense.
Furthermore, effective upon the commencement date of this Lease, Lessor agrees
to provide the ventilating and air conditioning units in good working order and
Lessee shall have two hundred forty (240) days after commencement date to
report, in writing, any deficiencies in the above system, which Landlord agrees
to repair or replace at Landlord's sole cost and expense. In the event a problem
arises the HVAC system, and Lessee has maintained such system per Section 5.05
of this Lease, Lessee shall have the option to repair, replace or desert such
system, without further obligation with respect thereto.
16.04
LEASEHOLD IMPROVEMENTS
Lessor at Lessor's sole cost and expense agrees to encapsulate the existing
insulation that is presently falling from the warehouse ceiling per job
#1197781.
16.05
LANDLORD'S COOPERATION
Lessor agrees to reasonably cooperate in working with Lessee's banking
institutions in executing Landlord waivers requested Lessee in order to procure
financing on purchased equipment.
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ADDENDUM 11
16.06
HAZARDOUS WASTE
The term "Hazardous Substances," as used in this Lease shall mean pollutants,
contaminants, toxic or hazardous wastes, or any other substances, the use and or
the removal of which is required or the use of which is restricted, prohibited
or penalized by any "Environmental Law," which term shall mean any federal,
state or local law, ordinance or other statute of a governmental or
quasi-governmental authority relating to pollution or protection of the
environment. Lessee hereby agrees that (i) no activity will be conducted on the
premises that will produce any hazardous Substance, except for such activities
that are part of the ordinary course of Lessee's business activities (the
"Permitted Activities") provided said Permitted Activities are conducted in
accordance with all Environmental Laws and have been approved in advance in
writing by Lessor, Lessee shall be responsible for obtaining any required
permits and paying any fees and providing any testing required by an
governmental agency; (ii) the premises will not be used in any manner for the
storage of any Hazardous Substances except for the temporary storage of such
materials that are used in the ordinary course of Lessee's business (the
"Permitted Materials") provided such Permitted Materials are properly stored in
a manner and location meeting all Environmental Laws and approved in advance in
writing by Lessor; Lessee shall be responsible for obtaining any required
permits and paying any fees and providing any testing required by an
governmental agency; (iii) no portion of the premises will be used at a landfill
or a dump: (iv) Lessee will not install any underground or above ground tanks of
any type; (v) Lessee will not allow any surface or subsurface conditions to
exist or come into existence that constitute, or with the passage of time may
constitute a public or private nuisance; (vi) Lessee will not permit any
Hazardous Substances to be brought onto the premises, except for the Permitted
Materials described below, and if so brought or found located thereon, the same
shall be immediately removed, with proper disposal, and all required cleanup
procedures shall be diligently undertaken pursuant to all Environmental Laws.
Lessor or Lessor's representative shall have the right but not the obligation to
enter the premises for the purpose of inspecting the storage, use and disposal
of Permitted Materials to ensure compliance with all Environmental Laws. Should
it be determined, in Lessor's sole opinion, that said Permitted Materials are
being improperly stored, used, or disposed of, then Lessee shall immediately
take such corrective action as requested by Lessor. Should lessee fail to take
such corrective action within twenty-four (24) hours, Lessor shall have the
right to perform such work and Lessee shall promptly reimburse Lessor for any
and all cost associated with said work. If at any time during or after the term
of the Lease, the premises is found to be so contaminated or subject to said
conditions, Lessee shall diligently institute proper and thorough cleanup
procedures at Lessee's sole cost. before taking any action to comply with
hazardous material laws or to cleanup hazardous material contaminating the
premises, Lessee shall submit to Lessor a plan of action, including any and all
plans and documents required by any hazardous material law to be submitted to a
governmental authority (collectively, a "plan of action"). Before Lessee begins
the actions necessary to comply with hazardous material laws or to cleanup
contamination from hazardous materials, Lessor shall have (1) approved the
nature, scope and timing of the plan of action, and (2) approved any and all
covenants and agreements to effect the plan of action. Lessee agrees to
indemnify and hold lessor harmless from all claims, demands, actions,
liabilities, costly expenses, damages and obligation of any nature arising from
or as a result of the use of the premises by lessee. The foregoing
indemnification and the responsibilities of Lessee shall survive the termination
or expiration of this Lease.
Permitted Materials (if none, enter 'None")
See Exhibit A attached.
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EXHIBIT A
SUPPLIES INVENTORY
Performance Display
August 31
UNIT OF UNIT
VENDOR DESCRIPTION MEASURE QUANTITY COST AMOUNT
----------------------------------------------------------------------------------------------------------------------
Texas Screen
Kiwo Col PPS gal. 0.00 $75.54 $0.00
Roller Frame Locki roll 0.00 $18.50 $0.00
Frame Tape roll 19.00 $7.61 $144.59
#60 Screen Filler qt. 0.00 $4.50 $0.00
Screen Wash A% gal. 1.00 $29.97 $29.97
Wypalls Case 5.00 $44.50 $222.50
Spray Glass Cleane Cans 11.00 $26.11 $287.21
Screen Opener CPS Gal 0.00 $119.86 $0.00
Surgical Gloves cs 3.00 $17.07 $51.21
K2 Screen opener gal 0.00 $23.97 $0.00
Viscosity Modifier gal. gal 0.00 $114.29 $0.00
Norcote Thinner gal. 0.00 $43.00 $0.00
Squeeges 70 Duro in 27.00 $0.61 $16.47
Squeeges 80 Duro in' 50.00 $0.71 $35.50
E-tork towels Rolls 0.00 $34.63 $0.00
Glue Weld On 1807 pt 6.00 $5.00 $30.00
Glue Weld On 35 pt 5.00 $10.00 $50.00
XX Xxxxxx
231 - 2" Masking rolls 12.00 $5.56 $55.72
410 - 2" Double rolls 32.00 $15.54 $497.28
950 - 1/2" rolls 27.00 $7.19 $194.13
Preston Office
Eyelets each 20.00 $6.20 $124.00
Xxxxxxx Oil
Alcohol Gal 35.00 $2.25 $78.75
Screen Wash Gal 59.00 $2.61 $153.99
Mac Pac
Kraft Paper Rolls 3.00 $18.08 $54.24
Steel Banding Coil 3.00 $67.51 $202.53
Reinforced Tape Roll 2.00 $35.97 $71.94
OK Paper
Newsprint Case 4.00 $224.70 $898.80
Total Pkg
Handwrap 80 gauge Case 0.00 $36.00 $0.00
Xxxxxxx
Pads 24 x 60 pads 0.00 $0.76 $0.00
Besco
Amberlith sheets 35.00 $8.04 $281.40
Xxxx xxxxxx 19.00 $8.04 $152.76
Clear Mylar sheets 19.00 $1.51 $28.69
Just UV
Press A P-3038 UV lamps Lamp 2.00 $136.00 $272.00
Press C B02.JHD UV Lamp Lamp 2.00 $188.00 $376.00
Press C B7020 Stand UV Xxx Lamp 0.00 $145.00 $0.00
Press B HOK10580 UV Lamp Lamp 2.00 $149.00 $298.00
TOTALS $4,618.68
13
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EXHIBIT A
Ink Inventory
Performance Display
Aug 31
unit of unit
Vendor Description measure quantity cost Amount
----------------------------------------------------------------------------------------------------------------------
CPI
Flat Black gallon 0.00 $121.31 $0.00
C33-S170 Black gallon 1.00 $49.26 $49.26
D40-S170 Black gallon 2.00 $97.84 $195.68
X00-00000 Xxxxxx Pink gallon 0.00 $121.40 $0.00
Op White C28 gallon 0.00 $120.83 $0.00
C33-Sl99 Mix Clear gallon 2.00 $45.00 $90.00
Flo Orange gallon 1.00 $147.79 $147.79
Green gallon 1.00 $132.90 $132.90
D40-Process Black gallon 1.00 $87.00 $87.00
D40-Rocket Red gallon 1.00 $105.00 $105.00
D40-M111-lG gallon 1.00 $137.68 $137.68
D40-M115-lG gallon 1.00 $107.05 $107.05
D40-144 gallon 1.00 $117.69 $117.69
D40-S190 gallon 2.00 $87.31 $174.62
D40-Sl99 gallon 2.00 $81.94 $163.88
D40-S917 gallon 0.00 $144.78 $0.00
D40-M119-lG gallon 2.00 $140.44 $280.88
D40-M121-lG gallon 1.00 $106.94 $106.94
D40-M125-lG gallon 1.00 $106.94 $106.94
D40-S126-lG gallon 1.00 $129.35 $129.35
D40-S159-lG gallon 1.00 $110.45 $110.45
D40-M141-lG gallon 1.00 $108.40 $108.40
D40-M149-lG gallon 1.00 $98.55 $98.55
D40-M155-lG gallon 1.00 $95.78 $95.78
D40-M181-lG gallon 1.00 $134.27 $134.27
D40-M183-lG gallon 1.00 $124.42 $124.42
D40-M185-lG gallon 1.00 $131.42 $131.42
D40-S131 gallon 1.00 $119.56 $119.56
D40-S139 gallon 1.00 $85.07 $85.07
D40-S135 gallon 1.00 $85.97 $85.97
D40-S140 gallon 1.00 $102.09 $102.09
D40-S916 gallon 0.00 $93.00 $93.00
D40-S915 gallon 0.00 $93.00 $0.00
D40-116 gallon 0.00 $93.00 $0.00
D40-123 gallon 0.00 $93.00 $0.00
D40-291 gallon 0.00 $93.00 $0.00
D40-294 gallon 0.00 $93.00 $0.00
D40-S112 gallon 1.00 $120.90 $120.90
D40-S110 gallon 1.00 $120.90 $120.90
C33-M111-lG gallon 1.00 $58.75 $58.75
C33-M115-lG gallon 1.00 $58.75 $58.75
C33-Ml19-lG gallon 1.00 $73.53 $73.53
C33-M121-lG gallon 1.00 $63.44 $63.44
C33-M125-lG gallon 1.00 $80.00 $80.00
C33-M141-lG gallon 1.00 $58.75 $58.75
C33-M149-lG gallon 1.00 $59.37 $59.37
C33-M155-lG gallon 1.00 $60.00 $60.00
C33-M159-lG gallon 1.00 $60.00 $60.00
C33-M181-lG gallon 1.00 $77.00 $77.00
C33-M183-lG gallon 1.00 $77.15 $77.15
C33-M185-lG gallon 1.00 $80.51 $80.51
C28-S170 gallon 1.00 $37.69 $37.69
C28-M155 gallon 1.00 $56.92 $56.92
C28-S158 gallon 1.00 $47.76 $47.76
C28-S103 gallon 1.00 $48.00 $48.00
C28-S199 gallon 1.00 $48.50 $48.50
C33-Reflex Blue gallon 1.00 $76.90 $76.90
B82-295 gallon 1.00 $92.36 $92.36
C33-S105 gallon 2.00 $54.78 $109.56
C33-S139 gal 1.00 $51.47 $51.47
C91-M119 gal 1.00 $135.62 $135.62
C91-S103 gal 1.00 $125.00 $125.00
14
15
C91-62058 gal 1.00 $123.00 $123.00
C91-S112 gal 1.00 $111.84 $111.84
Standard White D-40-S10 gallon 0.00 $121.40 $0.00
Opaque White C34-S103 gallon 1.00 $62.13 $62.13
Opaque White D40-S103 gallon 2.00 $97.84 $195.68
OV PSP Clear 26 gallon 1.00 $87.60 $87.60
W PSP 422 gallon 1.00 $105.60 $105.60
Pantone 294 Visa gallon 0.00 $120.00 $0.00
Conv 9775 Opaque White gallon 0.00 $50.40 $0.00
Conv 97422 Blue gallon 0.00 $55.28 $0.00
Conv C28-S142 gallon 0.00 $47.76 $0.00
KOLOR CURE Xxxxxxx Xxxxx gallon 0.00 $100.00 $0.00
Thinner gallon 2.00 $53.00 $106.00
COLOR MIX LV Reactor gallon 3.00 $70.00 $210.00
ULN Gel gallon 80.00 $86.88 $6,950.40
XXXXXX INDUST Seriglos 7300 gallon 110.00 $28.64 $3,150.40
SERICOL Gold gallon 1.00 $403.85 $403.85
Bronze gallon 9.00 $383.15 $3,448.35
Adhesion Modifier gallon 4.00 $80.82 $323.28
MR-301 Opaque Black gallon 0.00 $83.80 $0.00
HT Black gallon 1.00 $77.25 $77.25
HTR Red gallon 1.00 $102.10 $102.10
HTB HT Blue gallon 1.00 $78.95 $73.95
HTY Yellow gallon 2.00 $102.20 $204.40
HT Extender Base gallon 3.00 $77.90 $233.70
TOTALS $21,275.00
15
16
MODIFICATION AND RATIFICATION OF LEASE
This MODIFICATION AND RATIFICATION OF LEASE AGREEMENT is made and entered into
between BELTLINE QUAKER LIMITED PARTNERSHIP (Lessor or Landlord) and PERFORMANCE
PRINTING CORPORATION, a Texas Corporation (Lessee or Tenant) for and in
consideration of one Dollar ($1.00) and other good and valuable consideration,
receipt of which is hereby acknowledged.
WITNESSETH:
1. RATIFICATION. Lessor and Lessee hereby confirm and ratify, except as modified
herein, all of the terms, conditions and covenants in that certain written Lease
Agreement (the "Lease Agreement") dated September 22 1994, between Lessor and
Lessee, for the rental of the following property: approximately 24,648 square
feet of space which includes 5,226 square feet of office situated at 0000 Xxxxxx
Xxxxx, Xxxxxx, Xxxxx 00000 located in the Quaker Court, Building I, project per
Job #1197781.
2. CURRENT POSSESSION. Lessee warrants that Lessee has accepted and is now in
possession of the above referenced premises and that the Lease Agreement is
valid and presently in full force and effect. Lessor warrants that Lessee has
performed all of its obligations under the Lease Agreement through the date
hereof, and Lessor waives any and all claims it may have for any money from or
other performance by Lessee due under the Lease Agreement prior to the date
hereof, including any and all penalties for late rental payments.
3. EXTENSION OF TERM. Lessor and Lessee agree that the term of this Lease has
been extended thirty-six months. so that the expiration date shall change from
December 31, 1997 to December 31, 2000.
4. additional PREMISES. Lessor and Lessee agree that effective July 1, 1997, the
leased premises shall be expanded from 24,648 square feet which includes 5,226
square feet of office, by 19,737 square feet at 0000 Xxxxxx Xxxxx, per Job
#1123226 plan dated March 25, 1997, for a new total of 44,385 square feet which
includes 5,226 square feet of office.
5. RENTAL R ATE. Lessor and Lessee agree that (i) effective July 1, 1997 the
base monthly rental shall increase from $5,341, by $4,276 to $9,617 and (ii)
effective January 1, 1998 the base monthly rental shall increase from $9,617 by
$924 to $10,541.
6. UNIFORM COMMERCIAL CODE. Lessor and Lessee agree that the provisions of
Section 10.02 is null and void and of no further force or effect
7. OPERATING EXPENSES. Lessor and Lessee agree that the base year for computing
rental charges relating to operating expenses under Section 2.02 shall be 1996
and that the Operating Expense Cap under Section 16.01 shall be (i) 110% of the
1996 Operating Expenses as a cap for the actual expenses for 1997 ( i) 120% of
the 1996 Operating Expenses as a cap for the actual expenses 1998 (iii) 130% of
the 1996 Operating Expenses as a cap for the actual expenses for 1999, and (v)
140% of the 1996 Operating Expenses as a cap for, the actual expenses for 2000.
The 44,385 square feet of Demised Premises is 21.8% of the total square feet in
the project.
8. LESSEE IMPROVEMENTS. Lessor accepts all improvements made by the Lessee to
the demised premises prior to the date hereof and all improvements made by the
Lessee relating to the addition of the additional Premises*, and Lessee shall
have no obligation to remove or alter said improvements upon termination of this
Lease. *provided Lessee performs improvements in accordance to the attached
Exhibit "A" Construction By Lessee,
9. LESSOR IMPROVEMENTS. Lessor shall deliver the additional premises in good
condition, making all appropriate repairs to the space heaters, floor, poles,
walls, lighting and doors, including the opening of a satisfactory entryway
between the original Demised Premises and the additional Premises and providing
utilities from the existing origination points in the original Demised Premises
to the additional Premises.
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10. LANDLORD'S COOPERATION. Lessor agrees to promptly complete its obligations
under Section 16.05 of this Lease.
11. LESSEE SUBLEASING. Lessor agrees that it shall not withhold approval of any
sublease under Section 9.02 provided that the use of the Demised Premises is
satisfactory to the Lessor.
Signed at Dallas, Texas, this 8th day of May, 1997.
Lessee Lessor.
Performance Printing Beltline Quaker Limited Partnership
Corporation By Beltline Country Club Corporation,
managing general partner
By: s/Xxxx Xxxxx/s By: s/Xxxxxxx X. Xxxxx/s
---------------------------- --------------------------------
Xxxx X. Xxxxx, President Xxxxxxx X. Xxxxx, Vice President
17
18
EXHIBIT "A"
CONSTRUCTION BY LESSEE
Any finish-out construction or refurbishing work, including all utility
connections, HVAC and plumbing repairs, etc, shall be performed by Lessee. This
paragraph is subject to the following terms and conditions:
1. Lessee shall submit plans and specifications prepared by a State Licensed
and Registered Architect for the finish-out work to Lessor within fifteen
(15) days from the execution date this Lease. Lessee's plans and
specifications must be approved by the Lessor's Construction Manager, in
writing, prior to the commencement of construction. All work shall be
performed in conformance with such approved plans and specifications in a
good and workmanlike manner and in compliance with all applicable laws,
rules, codes, ordinances and regulations. Lessee, at Lessee's sole cost and
expense, shall obtain all permits required prior to commencement of
construction.
With respect to future finish-out construction s/JW/s
2. Lessee assumes all responsibility with regard to modifications or
construction alterations necessary to meet the provisions of the Americans
with Disabilities Act (ADA) of 1991. Any alterations of the lease space
required to comply with the provisions needed at this time or in the
future, shall be at the sole cost and expense of the Lessee.
3. Lessee shall provide Lessor with a complete list of contractors and
subcontractors who will be performing work in or on the leased premises.
Lessor, in its sole discretion, shall have the right to reject any
contractor or subcontractor.
With respect to construction projects s/JW/s
4. Lessee shall furnish Lessor a Certificate of Insurance naming Lessor as an
additional insured on Lessee's liability insurance in the form attached
hereto and in the amount of coverage as set forth therein.
5. If work is performed by Lessee on parts of the building that are presently
under warranty from other contractors or subcontractors, including but not
limited to the roof, heating, ventilating and air conditioning systems,
electrical and sprinkler system, such work shall be done by Lessor's
contractor or subcontractor, who is responsible under the warranty at
Lessee's expense.
6. Upon completion of the work, Lessor's Construction manager shall inspect
the leased premises to insure that the work has been performed in
accordance with the approved plans and specifications. Upon acceptance of
the work, lien waivers from all contractors and subcontractors who
performed work on the leased premises, paid receipts or other evidence
substantiating the actual cost of the work done and a copy of a Certificate
of Occupancy must be provided to Lessor. Any claims, judgements, lawsuits,
etc., brought about due to failure in producing said documents are the
direct responsibility of Lessee, and constitutes a possible default of the
Lease.
7. Lessee shall hold Lessor harmless from and indemnify Lessor against any and
all liability, cost, expenses, including attorney's fees, claims, demands,
or causes of action for damage to persons or property arising out of or in
connection with the work performed by Lessee, its employees, agents,
contractors and subcontractors.
8. discrepancy or problem concerning the construction in relation to the
property.
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Exhibit "A"
Page 2
------------------------------------------------------------------------------------------------------------------------
CERTIFICATE OF INSURANCE 6/10/1997
========================================================================================================================
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS
Unimark Insurance Agency, Inc. NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT
0000 Xxx Xxxx, Xxxxx 000 XXXXX, XXXXXX XX ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW.
Xxxxxx, XX 00000
(000)000-0000 Fax(214)000-0000
COMPANIES AFFORDING COVERAGE
Performance Printing Corp.
0000 Xxxxxxxx
Xxxxxx, Xxxxx 00000
A Royal Ins Company of America
B Royal Indemnity Company
-------------------------------------------------------------------------
---------------------------------------------
===============================================-------------------------------------------------------------------------
COVERAGES
THIS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE
POLICY PERIOD INDICATED NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT on OTHER DOCUMENT WITH
RESPECT to MUCH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED
HEREIN 15 SUBJECT TO ALL THE TERMS. EXCLUSIONS AND CONDITIONS OF SUCH LIMITS SHOWN MAY BEEN REDUCED BY PAID
CLAIMS.
------------------------------------------------------------------------------------------------------------------------
TYPE OF INSURANCE POLICY POLICY POLICY LIMITS
NUMBER EFFECTIVE EXPIRATION
DATE
========================================================================================================================
A GENERAL LIABILITY GENERAL AGGREGATE 2,000,000
X COMMERCIAL GENERAL LIABILITY PRODUCTS COMP/OP AGG in code
CLAIMS MADE X OCCUR PERSONAL & ADV INJURY 1,000,000
OWNER'S CONTRACTOR'S PROT PSP098817 07/01/96 07/01/97 EACH OCCURRENCE 1,000,000
FIRE DAMAGE (ANY ONE FIRE) 50,000
MED EXPENSE (ANY ONE PERSON) 5,000
------------------------------------------------------------------------------------------------------------------------
AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT 1,000,000
------------------------------------------------------------------------------------------------------------------------
B
X ANY AUTO BODILY INJURY
ALL OWNED AUTOS RST199238 07/01/96 07/01/97 (Per person)
SCHEDULED AUTOS
X ____ AUTOS Bodily Injury
X NON-OWNED AUTOS (Per accident)
GARAGE LIABILITY
PROPERTY DAMAGE
------------------------------------------------------------------------------------------------------------------------
A EACH OCCURRENCE 1,000,000
EXCESS LIABILITY AGGREGATE 1,000,000
X UMBRELLA FORM PLA352201 07/01/96 07/01/97 STATUTORY LIMITS
OTHER THAN UMBRELLA FORM EACH ACCIDENT 1,000,000
DISEASE POLICY LIMIT 1,000,000
B WORKER'S COMPENSATION DISEASE EACH EMPLOYEE 1,000,000
AND
EMPLOYER LIABILITY
------------------------------------------------------------------------------------------------------------------------
----------
OTHER
------------------------------------------------------------------------------------------------------------------------
Bradford Management Company of Dallas, Inc. and the owner of the premises being managed on which liabilities
out of "your work" arises is added as additional insured per form TE9901B and CG2026.
------------------------------------------------------------------------------------------------------------------------
CERTIFICATE HOLDER CANCELLATION
Bradford Management Company SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION
Of Dallas, Inc. DATE THEREOF, THE ISSUING COMPANY WILL ENDEAVOR TO MAIL 30 DAYS WRITTEN NOTICE
00000 X. Xxxxxxx Xxxxx., #0000 TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, BUT FAILURE TO MAIL SUCH NOTICE
Xxxxxx, Xxxxx 00000 SHALL IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE COMPANY ITS AGENTS
OR REPRESENTATIVES.
-------------------------------------------------------------------------------
AUTHORIZED REPRESENTATIVE
-------------------------------------------
------------------------------------------------------------------------------------------------------------------------
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Xxx couldn't read Exhibit A, Page 3
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Exhibit "A"
Page 4
additional INSURED
_________________________ provided under the following:
BUSINESS AUTO COVERAGE ____
GARAGE COVERAGE ____
TRUCKERS COVERAGE ________
Has endorsement ______changes the policy effective on the Inception date of the
policy unless another date is indicated below:
Endorse Effective Policy Number
__________ Insured'
Countersigned
by
Has provisions and exclusions that apply to LIABILITY COVERAGE also apply to the
endorsement
BRADFORD MANAGEMENT COMPANY OF DALLAS, INC. THE OWNERS OF THE PREMISES BEING
__________ OR WHICH LIABILITIES OUT OF "YOUR HOME" ARISES
(Enter home and address of additional Insured)
_________________________________________________________________________there
are several lines here, 9 to be exact, that I can barely make out at all.
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EXHIBIT "A"
PAGE 5
BRADFORD MANAGEMENT COMPANY
INSURANCE REQUIREMENTS FOR TENANT FINISH
CONSTRUCTION
1. The minimum amount of coverage Bradford Management Company of Dallas, Inc.
requires for tenant finish construction is:
General Liability $1,000,000.00
Auto Liability $1,000,000.00
Umbrella Liability $2,000,000.00
Worker's Compensation Statutory
Employer's Liability $ 500,000.00
The attached certificate and endorsements exemplify the insurance coverage and
language required on the policy.
2. Bradford Management Company of Dallas, Inc. is to be named as the Certificate
__???????????_________ at the address below on all certificates.
3. Bradford Management Company of Dallas, Inc. and property owners must be added
as additional insureds by attaching the enclosed endorsements. These
endorsements must be included with your certificate to comply with the insurance
requirement.
4. The certificate must state that the Certificate Holder will be notified
within 30 days if the insurance is terminated. The CANCELLATION language must
read as follows. "Should any of the above described policies be canceled before
the expiration date thereof, the __________ company will mail 30 days written
notice to the Certificate Holder names to the left.
5. Underwriters must currently be rated at least a Class , VII company by AAA
Best.
If you have any questions pertaining to any of this information, please
contact your Bradford Companies representative.
22
