Exhibit 10.7
Xxxxxx & Xxxxx
000 Xxxxx 00xx Xxxxxx x Xxxxx 000 x Xxxxxxx, XX 00000
o 000-000-0000 o Fax 000-000-0000
May 20, 0000
Xxxx Xxxxxx
Xxxxx Xxxx & Trust 0000
Xxxxx Xx.
Xxxxxxx, XX. 00000
Dear Xxxx:
This letter shall serve as a lease agreement for Union Bank & Trust ("Tenant")
to lease storage space from Xxxxxx & Xxxxx LLC, a Nebraska limited liability
company ("Landlord") in the basement of the Lincoln Square Building, 121 S. 00XX
Xxxxxx, Xxxxxxx, Xxxxxxxx, as shown on Exhibit A attached. Following are the
mutually agreed upon lease terms:
PREMISES:
Secured storage space measuring 288 square feet in the basement of the
Lincoln Square Building, as shown on the floor plan attached hereto as
Exhibit A.
COMMENCEMENT DATE: March
10,2005
TERM:
This Lease shall be month to month from March 1,2005 with automatic
renewal, provided however that either party may terminate this lease
with thirty (30) days notice.
RENTAL AMOUNT:
Tenant shall pay a fixed rent of $72.00 per month, payable on the first
day of each calendar month. This represents a gross annual rate of $3.00
per square foot for the 288 sq. ft. Rent for any partial month of
occupancy shall be prorated for the number of days of actual occupancy.
Beginning March 3,2007 annual gross rent shall increase by $.25 per sq.
ft. for each 2 year period so long as the lease is renewed.
BUILDING OPERATING COSTS:
The fixed monthly rent is a gross rental amount and AS such the Tenant
shall have no obligation for any additional rent for utilities, taxes,
special assessments, common area maintenance, building insurance and
other like costs associated with management and ownership of the
building.
INSURANCE:
Tenant shall be responsible for maintaining comprehensive liability
insurance against claims for bodily injury and property damage in or
about the leased premises.
INDEMNIFICATION:
Tenant waives all claims against Landlord, it's agents and employees for
loss, theft or damage to inventory, equipment, records and other
property of the tenant on the premises.
BUILDING HOURS:
The Lincoln Square building hours will be 6:00 am, to 6:00 pm. Monday
through Friday, 7:00 am. to 5:00 pm. on Saturdays. Landlord reserves the
right to adjust building hours if necessary. The tenant may make
arrangements for access to storage space in other than normal building
hours.
For Xxxxxx & Xxxxx LLC, Landlord
/s/ Xxxxxx X. Xxxxxxxx, XX
------------------------------------------
Xxxxxx X. Xxxxxxxx, XX
OPERATING MANAGER
Accepted and Agreed
Union Bank & Trust, Tenant
/s/ Xxxx Xxxxxx
OPERATING MANAGER
