1
EXHIBIT 10.14
LEASE
STURBRIDGE VILLAGE
SHOPPING CENTER
LESSEE
CYBERNET HOLDING d/b/a
MONTGOMERY CABLEVISION & ENTERTAINMENT, INC.
LESSOR
SOUTHERN BOULEVARD CORPORATION
2
LEASE
STATE OF ALABAMA )
XXXXXXXXXX COUNTY)
THIS LEASE AGREEMENT MADE this 15th day of May, 1997, by and between
SOUTHERN BOULEVARD CORPORATION, (hereinafter called "Lessor"), and CYBERNET
HOLDING D/B/A XXXXXXXXXX CABLEVISION & ENTERTAINMENT, INC., (hereinafter called
"Lessee").
WITNESSETH
In consideration of the rents, covenants and agreements provided for and
contained in this Lease Agreement, Lessor does hereby lease unto Lessee and
Lessee does hereby lease from Lessor the following identified premises in the
City of Montgomery, Alabama subject to the terms and conditions hereinafter set
out;
1. PREMISES. That certain store space located in the Sturbridge Village
identified for convenience purposes as Xxxx 0 (xxxxx 0/0), Xxxx 0 and 7,
thereof, containing 3,000 +/- square feet, and more particularly outlined in red
on the attached Exhibit "A" which is a general plot plan of subject shopping
center and which plot plan with leased premises specifically outlined thereon,
is made a part of this Lease Agreement by reference. Said space shall
hereinafter be referred to as the "Premises" or "Leased Premises".
2. PERMITTED USE. The premises shall be used only as a customer service
and administrative office for Lessee, a provider of cable and other
communications services.
3. LEASE TERM. The term of this Lease will be for exactly Five (5)
calendar years, commencing thirty (30) days after the Lessor delivers
possession of the Premises to the Lessee or when the Lessee opens for business,
whichever occurs first.
4. BASE RENT. The base rent for the first 3 years of the original term
will be Thirty-two Thousand Two Hundred fifty and 00/100 Dollars ($32,250.00)
per year, payable monthly, in advance, on the first day of each month at the
rate of $2,687.50 per month. Years 4 and 5 shall be adjusted by the Consumer
Price Index in the manner provided in Paragraph 5.
5. OPTION. In addition to the original term stated in Paragraph 3,
above, the Lessee shall have the right, privilege and option to extend this
Lease for one additional three (3) year option term, subject to the other
provisions relating to notice and rent hereinafter provided for. In order for
Lessee to exercise these option rights, Lessee must give to Lessor, written
notice of Lessee's intention to exercise its option to extend the lease term,
which notice must be delivered to Lessor at least one hundred and eighty (180)
days prior to expiration of base term. Notice given after said date will be
ineffective to exercise the option rights granted herein. During each rental
year following the Third rental year of the initial lease term and including
any rental year of any option period, Lessee covenants and agrees to pay to
Lessor, as the base rental, a sum determined by taking the first year's rent
and multiplying it by a fraction the denominator of such fraction to be the
index number of the Consumer Price Index seasonally adjusted U. S. City Average
for all items for all urban consumers published monthly in the Monthly Labor
Review of the Bureau of Labor Statistics of the United States of Labor for the
month immediately preceding the first month of the original lease term and the
numerator shall be said index number for the second month preceding
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the end of each lease year. The base rent is specifically to be adjusted for
each such lease year, but in no event shall the base rent be less than that paid
in the preceding lease year.
Should the Consumer Price Index be discontinued, then an equivalent number shall
be used, if available, and if not, the parties will re-negotiate the rent for
the option period.
SECURITY DEPOSIT. Concurrently with Lessee's execution of this Lease,
Lessee shall deposit with Landlord a security deposit of N/A ( N/A ). Said sum
shall be held by Lessor as a Security Deposit for the faithful performance by
Lessee of all of the terms, covenants, and conditions of this Lease to be kept
and performed by Lessee hereunder, throughout the entire term of this Lease. If
Lessee defaults with respect to any provisions of this Lease, including but not
limited to the provisions relating to the payment of rent and any of the
monetary sums due herewith, Lessor may (but shall not be required to) apply the
Security Deposit towards the past due rent or charges; or, Lessor may use, apply
or retain all or any part of this Security Deposit for the payment of any other
amount which Lessor may spend or become obligated to spend by reason of Lessee's
default or to compensate Lessor for any other loss or damage which Lessor may
suffer by reason of Lessee's default. If any portion of said Deposit is so used
or applied, Lessee shall, within ten (10) days after written demand therefor,
deposit cash with Lessor in an amount sufficient to restore the Security Deposit
to its original amount. Lessee's failure to do so shall be a material breach of
this Lease. Lessor shall not be required to keep this Security Deposit separate
from its general funds, and Lessee shall not be entitled to interest on such
Deposit. If Lessee shall fully and faithfully perform every provision of this
Lease to be performed by it, the Security Deposit or any balance thereof shall
be returned to Lessee, (or, at Lessor's option, to the last assignee of Lessee's
interests hereunder) at the expiration of the Lease term and after Lessee has
vacated the Premises. In the event of termination of Lessor's interest in this
Lease, Lessor shall transfer said Deposit to Lessor's successor in interest,
whereupon Lessee agrees to release Lessor from all liability for the return of
such Deposit or the account therefor. Lessee shall not have the right to apply
the Security Deposit in payment of the last month's rent.
6. DEMISE. The Lessor hereby leases and demises the Leased Premises and
no other parts of the shopping center, to the Lessee subject to all of the
terms and provisions of this Lease, specifically including but not limited to
the provisions regarding permitted use, and subject to all other terms and
conditions herein contained and subject to all liens, encumbrances, easements,
restrictions, zoning laws and governmental or regulations affecting the
shopping center or the Leased Premises. The Leased Premises shall include only
the specific space granted in this Lease and Lessor specifically excepts and
reserves for itself, the roof, air space above the roof, space below the floor,
exterior portions of the Leased Premises other than the specific store front
for the Leased Premises, and the right (but not the obligation) to install,
maintain, use, repair and replace all pipes, ductwork, conduits, utility lines,
wires, and other similar items within the Leased Premises. Lessor also
specifically excepts and reserves unto itself all other parts of the shopping
center site, including out parcels, parking areas, driveways, and undesignated
use areas of the shopping center, subject to the rights of Lessee and Lessee's
customers to use a portion of the common areas, subject to the terms and
provisions of the following paragraph.
7. USE OF COMMON AREAS. The use and occupation by Lessee of the premises
shall include a revocable license to use in common with the others entitled
thereto the common areas, as same may be designated from time to time by the
Lessor, subject, however, to the terms and conditions of this Lease and to
rules and regulations for the use thereof as prescribed from time to time by
the Lessor. The purpose of the Site Plan is to show the approximate location of
the premises. The term "Common Areas" as used in this Lease shall mean all
facilities furnished by Lessor from time to time for the nonexclusive use of
the occupants of the shopping center, their officers, agents; employees and
customers, which facilities may include, but are not limited to, the parking
areas, drives, sidewalks, walkways, service areas, roadways, loading platforms,
drainage and plumbing systems, roof, canopies, ramps, landscaped areas and
other similar facilities as they may from time to time exist. Lessor reserves
the right to alter at any time the size, scope and
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configuration of the shopping center and all or any portions of the common areas
including but not limited to the right to construct other buildings or
improvements in the shopping center, to construct double-deck or elevated
parking facilities, to relocate the building, automobile parking areas and other
common areas, to change the number of buildings and buildings' dimensions, the
identify and type of other stores and tenancies provided only that the size of
the Leased Premises and access to the Leased Premises shall not be materially
adversely impaired. Lessor further reserves the right to grant to others the
right to use the common areas of the shopping center. Lessor shall have no
obligation to permit any of the common areas to be operated beyond the hours
established by Lessor. All common areas not within the premises, which Lessee
may be permitted to use, are to be used under a revocable license, and if the
amount of the common areas be diminished, Lessor shall not be subject to any
liability and Lessee shall not be entitled to any compensation or diminution or
abatement of rent, except as may be expressly provided elsewhere herein, nor
shall such use or diminution of the common areas be deemed constructive or
actual eviction.
8. CONSTRUCTION/POSSESSION. Lessor and Lessee hereby agree that Lessee's
taking possession of the premises shall be deemed conclusive evidence of
Lessee's acceptance of the premises in satisfactory condition and in full
compliance with all covenants and obligations of Lessor in connection
therewith. Lessee agrees that it will accept possession of the premises in an
"as is" condition and that no representations or inducements respecting the
condition of the premises have been made to Lessee by Lessor or its authorized
representatives. Similarly, Lessee acknowledges that no promises to decorate,
alter, repair or improve the premises, either before or after execution hereof,
have been made by Lessor or its authorized representative, except as agreed to
in writing by the parties and in accordance with the attached Exhibit "C" to
this lease, which by reference is made a part of this lease Agreement,
reflecting the exact work to be performed. Lessee further agrees that no
representations have been made to it that any other tenants will lease or will
continue to lease space within the shopping center or that Lessee has any
exclusive right to sell merchandise of any type and character, except as may be
expressly provided elsewhere herein. It shall be the Lessee's sole obligation
and responsibility to make sure the Leased Premises and the Lessee's use of the
Leased Premises comply in all regards to the requirements of The Americans With
Disabilities Act. If the Leased Premises and the Lessee's use of the Leased
Premises does not so comply then such failure to comply shall constitute a
default and breach of this Lease by the Lessee.
9. QUIET ENJOYMENT. Lessor covenants that Lessee, upon paying all sums
due from Lessee to Lessor hereunder and performing and observing all of
Lessee's obligations under this Lease, shall, subject to the provisions hereof,
peacefully and quietly have, hold and enjoy the premises throughout the Lease
Term without interference by the Lessor, subject, nevertheless, to the other
terms and provisions of this Lease.
10. STATEMENT OF LEASE TERM. Upon Lessors request, Lessee shall execute
and deliver a written statement furnished by Lessor in recordable form
specifying the rental commencement date and termination date of the Lease Term.
11. ADDITIONAL RENT. In addition to the base rental referred to
hereinabove, Lessee will be responsible for additional rent covering Lessee's
proportionate share of Lessor's expenses for taxes, insurance, and common area
maintenance. Lessor will provide Lessee with a written statement of said
additional rent calculation reflecting Lessee's proportionate share of same, as
soon as reasonably possible after January 1st of each respective lease year or
option year.
a. Lessee's pro rata responsibility will be calculated comparing the
Leased Premises to the over all leasable area of the shopping center.
Said responsibility will be a fraction, expressed as a percentage,
using the total leasable area of the shopping center as the
denominator of the fraction and the total area of Lessee's Leased
Premises hereunder as the numerator of the fraction.
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b. Additional rent will include all taxes and assessments relating to
the shopping center of which the Leased Premises are a part,
including any ad valorem on subject property, and will also include
Lessor's property and casualty and liability insurance expense as it
relates to all policies of insurance covering the shopping center and
any portions thereof, and covering all damages, injuries and
liability relating thereto, and said additional rent will also
include common area maintenance.
c. Common Area Maintenance shall include but are not limited to
Lessor's costs of operating, repairing, lighting, cleaning,
maintaining landscaping and plantings, painting, and advertising and
promoting the shopping center and all parts and portions thereof
d. Lessee's responsibility for its pro rata share of each of these
costs and expenses hereinabove outlined will begin effective upon
lease commencement and will cover the calendar year 1997 and each and
every calendar year thereafter but if the leased term ends on any
other date other than the last day of December of any respective
year, then the Lessee's responsibility for these charges and expenses
will be pro rated through the last date of Lessee's rental
responsibility under this agreement in the final year of the lease.
The Lessee shall pay its proportionate share in advance based on
estimates made by the Lessor from time to time which estimate at the
present time for the first Lease Year is $3,750.00 payable at the
rate of $312.50 per month.
12. PERCENTAGE RENT. INTENTIONALLY OMITTED
13. GROSS RECEIPTS DEFINED. INTENTIONALLY OMITTED
14. LESSEE'S RECORDS. INTENTIONALLY OMITTED
15. REPORTS BY LESSEE. INTENTIONALLY OMITTED
16. UTILITIES. Lessee shall make application for, obtain, pay for, and
be solely responsible for all utilities required, used or consumed in the
premises. In the event that any charge for any utility supplied to the premises
is not paid by Lessee to the utility supplier when due, then Lessor may, but
shall not be required to, pay such charge for and on behalf of Lessee, with any
such amount paid by Lessor being repaid by Lessee to Lessor, as additional
rent, promptly upon demand. Additionally, if Lessor shall elect to supply any
of the utility services, then Lessee shall pay to Lessor the cost of its
utility consumption, along with the cost of installing separate metering
devices, if necessary. Lessor agrees that the cost to Lessee for any
Lessor-provided utility service shall not exceed the amount Lessee would have
had to pay had it independently obtained said utility service from the local
utility supplier. Lessor and Lessee hereby agree that Lessor shall not be
liable for any interruptions or curtailment in utility services due to causes
beyond its control or due to Lessor's alteration, repair or improvement of the
premises or the shopping center.
17. MAINTENANCE BY LESSEE. Lessee shall be responsible for all
maintenance and repairs necessary in the leased premises and Lessee shall keep
the leased premises and appurtenances thereto in good order, condition and
repair, clean, sanitary and safe, including the replacement of equipment,
fixtures, and all broken glass at all times. Lessee shall not make any
additions, improvements, alterations or major repairs to or on the leased
premises without the written consent and approval of Lessor. Lessee will be
fully responsible for all heating and air conditioning units and systems
relating to or serving the leased premises. Lessee shall be responsible for
keeping the areas immediately to the rear and to immediately to the front of
the leased premises, specifically loading areas and/or loading dock areas and
the front sidewalk areas clean and free of all trash, refuse, garbage, paper,
water and ice.
18. MAINTENANCE BY LESSOR. Lessor shall keep the exterior supporting
walls, the foundations, the roofs, gutters and downspouts of the leased
premises in reasonable repair, provided
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that Lessee shall promptly give Lessor written notice of the necessity for such
repairs and provided that the damage thereto shall not have been caused by the
negligent or willful acts of Lessee, its officers, agents, employees, customers
or invitees or those of its permitted assignees, sublessees, licensees or
concessionaires; in which event Lessee shall be responsible. Lessor shall have
no obligation to repair, maintain, alter or perform any other acts with
reference to the leased premises or any part thereof or with reference to any
plumbing, heating, ventilation, electrical, air conditioning or other mechanical
equipment or installations therein.
19. SIGNS, AWNINGS AND CANOPIES. Lessee will not place or suffer to be
placed or maintained on any door, wall or window of the premises any sign,
awning or canopy, or advertising matter or other thing of any kind, and will
not place or maintain any exterior lighting, or protruding object or any
decoration, lettering or advertising matter on the glass of any window or door
of the premises without first obtaining Lessor's written approval and consent.
Lessee shall maintain any such sign, awning, canopy, decoration, lettering or
advertising matter as may be approved in good condition and repair at all
times. Lessee shall maintain the show windows and glass in a clean, neat and
orderly condition and shall not maintain any interior signs or flashing lights
visible from the exterior of the premises, without Lessor's written approval.
See attached Exhibit "B" for sign regulations.
20. LIENS. Lessor will not create or permit to be created or to remain
and will discharge any lien, encumbrance or other charge upon the premises, any
part thereof or Lessee's interest therein other than an assignment permitted
under Paragraph 31, provided that Lessee shall not be required to discharge any
liens, encumbrances or charges placed upon the premises by the act of Lessor.
Lessee shall have the right to contest, in good faith and by appropriate legal
proceedings, the validity or amount of any mechanics', laborers' or
materialmen's lien or claimed lien; provided, however, Lessee shall have first
given Lessor such security as may be reasonably required by Lessor to insure
payment thereof and to prevent any sale, foreclosure or forfeiture of the
premises or the shopping center or any part thereof by reason of such
nonpayment. On final determination of such lien or lien claim, Lessee shall
within five (5) days thereafter pay any judgment rendered, with all proper
costs and charges, and shall have such lien released or judgment satisfied at
Lessee's sole expense. Upon such payment and release of satisfaction, Lessor
will promptly return to Lessee such security as Lessor shall have received in
connection with such contest. Lessor reserves the right to enter the premises
to post and keep posted notices of nonresponsibility for any such lien. Lessee
shall pay, protect and indemnify Lessor within ten (10) days after demand
therefor from and against liabilities, losses, claims, damages, costs and
expenses, including reasonable attorney's fees, incurred by Lessor by reason of
the filing of any lien and/or the removal of the same.
21. SURRENDER OF PREMISES. At the termination of this Lease, Lessee shall
surrender the premises in the same condition (subject to the removals
hereinafter required) on the date Lessee opened for business, reasonable wear
and tear and loss due to casualty excepted, broom clean and shall surrender all
keys for the premises to Lessor. Prior to the last day of the Lease Term whether
by expiration or early termination. Lessee shall remove all its trade fixtures
and, to the extent required by Lessor by written notice, any other installation,
alterations or improvements made by Lessee before surrendering the premises as
aforesaid and shall repair any damage to the premises caused thereby. Lessee's
obligation to observe or perform this covenant shall survive the expiration or
other termination of the Lease Term.
22. LESSEE'S USE AND CARE OF PREMISES. Lessee covenants and agrees that
it will at no time advertise or conduct any "going-out-of-business", removal,
fire, auction, liquidation or any other distress sale at the premises. Lessee
shall not permit, allow or cause any noxious, disturbing or offensive odors,
fumes or gases or any smoke, dust, steam or vapors, or any loud or disturbing
noise, sound or vibration to originate in or to be emitted from the premises.
Lessee at all times shall keep the premises in a neat and orderly condition and
shall keep the entry ways, sidewalks and delivery areas adjoining the premises
clean and free from rubbish, dirt, snow and ice. Lessee shall store all trash
and garbage in adequate containers maintained in a neat and clean
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condition and located as Lessor may from time to time designate, so as not to be
visible to the public and not to create or permit any health or fire hazard, and
to arrange, or Lessor may arrange, for regular removal thereof at Lessee's
expense. All garbage and trash must be compacted in the manner and at a location
in or outside the premises as reasonably required by Lessor. Lessee shall keep
the premises clear and free of rodents, insects and vermin and shall keep a pest
control service contract in effect during the Lease Term and, at the request of
Lessor, participate and cooperate in carrying out any program of extermination
that Lessor may direct and Lessee shall pay the cost thereof or, if conducted in
cooperation with other lessees, the Lessee shall pay its pro rata cost on the
basis of floor areas involved of the other lessees participating.
23. INSURANCE. Lessee shall maintain, at its sole expense during the term
hereof, commercial general liability insurance covering the premises with an
Insurer satisfactory to Lessor. This coverage shall (a) have a single limit of
not less than $1,000,000.00. (b) cover Lessee's contractual liability hereunder,
(c) cover the Lessee and Lessor for any losses arising from third parties
performing work on the Premises and (d) name Lessor and Lessee as Insureds
thereunder. Lessee shall also keep in force fire and all risk coverage
insurance, for the full replacement value of Lessee's improvements and Lessee's
property including, but not limited to, inventory, trade fixtures, furnishings,
and other personal property and such coverage shall also include business income
coverage that will pay continuing rental expenses. Lessee will cause the issuer
of such insurance policies to name Lessor as an additional insured and the
policy shall be written such that the insurer waives all right of recovery by
way of subrogation against Lessor in connection with any loss of damage covered
by the policy. In addition, Lessee shall keep in force xxxxxxx'x compensation or
similar insurance to the extent required by law. Lessee shall deliver said
policies or certificates thereof to Lessor within ten (10) days of the earlier
to occur of the following dates, the commencement of the term or Lessee entering
upon the premises. Should Lessee fail to carry the insurance called for herein
Lessor may proceed against Lessee for default as allowed in this Lease, or
Lessor may, at its sole option, procure said insurance and pay the requisite
premiums, in which event, Lessee shall pay to Lessor, as additional rent, all
sums so expended following invoice. Each insurer of the policies required
hereunder shall agree by endorsement on the policy issued by it or by
independent instrument to give Lessor thirty (30) days prior written notice
before the policy or policies in question can be altered or canceled.
24. INCREASE IN FIRE INSURANCE PREMIUM. Lessee shall not keep, use, sell
or offer for sale in or upon the premises any article or service which may be
prohibited by the fire insurance policy maintained by Lessor. Lessee agrees to
pay any increase in Lessor's premiums for fire and extended coverage insurance
resulting from Lessee's use of the premises or from the type of merchandise sold
by Lessee in the premises, whether or not Lessor has consented to the same. In
determining whether increased premiums are the result of Lessee's use of the
premises, a schedule, issued by the organization making the insurance rate on
the premises, showing the various components of such rate, shall be conclusive
evidence of the several items and charges which make up the fire insurance rate
on the premises. In the event Lessee's occupancy causes any increase of premium
for the fire and/or casualty rates on the premises, Lessee shall pay the
additional premium on the fire and/or casualty insurance policies by reason
thereof. The Lessee also shall pay, in such event, any additional premium on the
rent insurance policy that may be carried by the Lessor for its protection
against rent loss through fire. Bills for such additional premiums shall be
rendered by Lessor to Lessee at such times as Lessor may elect and shall be due
from, and payable by, Lessee when rendered as Additional Rent.
25. INDEMNIFICATION. Lessee hereby agrees to indemnify and hold Lessor
and Lessor's agents and employees harmless from any and all claims, damages,
liabilities or expenses arising out of (a) Lessee's use of the Premises or the
shopping center, (b) any and all claims arising from any breach or default in
the performance of any obligation of Lessee and/or (c) any act, omission or
negligence of Lessee, its agents or employees. Lessee further releases Lessor
and Lessor's agents and employees from liability for any damages sustained by
Lessee or any other person claiming by, through or under Lessee due to the
Premises, the shopping center, or any part
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thereof or any appurtenances thereto becoming out of repair, or due to the
happening of any event including, but not limited to, any damage caused by
water, snow, windstorm, tornado, gas, steam, electrical wiring, sprinkler
system, plumbing, heating and air conditioning systems and from any acts or
omissions of co-lessees or other occupants of the shopping center. Lessor and
Lessor's agents and employees shall not be liable for any damage to or loss of
Lessee's personal property, inventory, fixtures or improvements, from any cause
whatsoever except the affirmative acts of proven gross negligence of Lessor, and
then only to the extent not covered by insurance required to be obtained by
Lessor in accordance with this Lease.
26. DAMAGE AND DESTRUCTION. (a) In the event the leased premises are
damaged or destroyed by fire, explosion or other casualty to a lesser degree
than 25% of the cost of replacement of the leased premises, then the premises
shall be repaired by Lessor within a reasonable period of time at Lessor's
expense, provided that Lessor shall not be obligated to expend for such repair
an amount in excess of the insurance proceeds attributable to the premises
which are recovered as a result of such damage and Lessor shall not be required
to repair or replace Lessee's stock in trade, fixtures, furniture, furnishings,
floor coverings and equipment. (b) In the event of damage by fire, explosion or
other casualty and (i) Lessor is not required to repair as hereinabove
provided, (ii) 25% or more of the replacement cost of the premises shall be
damaged, (iii) the building of which the premises are a part is damaged to the
extent of 25% or more of the replacement cost or (iv) the buildings (taken in
the aggregate) in the shopping center shall be damaged to the extent of 25% or
more of the replacement cost, then, in any of such events, Lessor may elect
either to repair or rebuild the premises or the building, or to terminate this
Lease upon giving notice of such election in writing to Lessee Within ninety
(90) days after the occurrence of the event causing the damage. If the
casualty, repairing, or rebuilding shall render the premises untenable, in
whole or in part, and the damages shall not have been due to the default or
neglect of Lessee, a proportionate abatement of the Minimum Rent shall be
allowed from the date when the damage occurred until the date Lessor completes
its work, said proportion to be computed on the basis of the relation which the
gross square foot area of the space rendered untenable bears to the Floor Area
of the Premises.
The provisions of this paragraph with respect to repair by Lessor shall be
limited to such repair as is necessary to place the premises in substantially
the same condition as when possession was delivered by Lessor, reasonable wear
and tear excepted. Promptly following such repair, Lessee shall, at Lessee's
expense, perform any work required to place the premises in the condition as
required by Lessee prior to the term of the Lease and Lessee shall restore,
repair or replace its stock in trade fixtures, furniture, furnishings, floor
coverings and equipment and, if Lessee has closed, Lessee shall promptly reopen
for business.
27. CONDEMNATION. If the whole of the premises, or so much thereof as to
render the balance unusable by Lessee, shall be taken under power of eminent
domain, or otherwise transferred in lieu thereof, or if any part of the
shopping center is taken and its continued operation is not, in Lessor's sole
opinion, economical, this Lease shall automatically terminate as of the date
possession is taken by the condemning authority. No award for any total or
partial taking shall be apportioned, and Lessee hereby unconditionally assigns
to Lessor any award which may be made in such taking or condemnation. In the
event of a partial taking which does not result in the termination of this
Lease, base rent and additional rent shall be proportionately reduced according
to the part of the premises remaining usable by Lessee.
All compensation awarded or paid for any taking or acquiring under the power or
threat of eminent domain, whether for the whole or a part of the premises or
shopping center, shall be the property of Lessor, whether such damages shall be
awarded as compensation for diminution in the value of the leasehold or to the
fee of the premises or otherwise, and Lessee hereby assigns to Lessor all of the
Lessee's right, title, and interest in and to any and all such compensation;
provided, however, that Lessor shall not be entitled to any award specifically
made to Lessee for the taking of Lessee's trade fixtures, furniture or leasehold
improvements to the extent initially paid for by Lessee.
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28. DEFAULT AND REMEDIES. In the event that Lessee (a) fails to pay all
or any portion of the base rent, additional rent or any other sum due from
Lessee hereunder when due; (b) fails to cease all conduct prohibited hereby
immediately upon receipt of written notice from Lessor; (c) fails to take
actions in accordance with the provisions of written notice from Lessor to
remedy Lessee's failure to perform any of the terms, covenants and conditions
hereof, (d) fails to continuously conduct business in the premises as herein
required; (e) commits an act in violation of this Lease which Lessor has
previously notified Lessee to cease more than once in any year; (f) becomes
bankrupt, insolvent or files any debtor proceeding, takes or has taken against
it any petition of bankruptcy; takes action or has action taken against it for
the appointment of a receiver for all or a portion of Lessee's assets; files a
petition for a corporate reorganization; makes an assignment for the benefit of
creditors, or if in any other manner Lessee's interest hereunder shall pass to
another by operation of law (any or all of the occurrences in this said
Paragraph 28(f) shall be deemed a default on account of bankruptcy for the
purposes hereof and such default on account of bankruptcy shall apply to and
include any Guarantor of this Lease); (g) commits waste to the premises; or (h)
is otherwise in breach of Lessee's obligations hereunder and shall not have
cured same within ten (10) days following written notice from Lessor; then
Lessee shall be in default hereunder and Lessor may, at its option and without
notice to Lessee, terminate Lessee's right to possess of the premises and
without terminating this Lease re-enter and resume possession of the premises
and/or declare this Lease terminated, and may thereupon, in either event,
remove all persons and property from the premises, with or without resort to
process of any court, either by force or otherwise. Notwithstanding such
re-entry by Lessor, Lessee hereby agrees to indemnify and hold Lessor harmless
from any and all loss or damage which Lessor may incur by reason of the
termination of this Lease and/or Lessee's right to possession hereunder. In no
event shall Lessor's termination of this Lease and/or Lessee's right to
possession of the premises abrogate Lessee's agreement to pay rent and any
other charges due hereunder for the full term hereof. Following re-entry of the
premises by Lessor, Lessee shall continue to pay all such rent and any other
charges as same become due under the terms of this Lease together with all
other expenses incurred by Lessor in regaining possession until such time, if
any, as Lessor relets same and the premises are occupied by such successor, it
being understood that Lessor shall have no obligations to mitigate its damages
by reletting the premises. Upon reletting, sums received from such new lessee
by Lessor shall be applied first to payment of costs incident to reletting; any
excess shall then be applied to any indebtedness to Lessor from Lessee other
than for base rent and additional rents and any excess shall then be applied to
the payment of base rent and additional rent due and unpaid. The balance, if
any, between all amounts to be received hereunder and sums received by Lessor
on reletting, shall be paid by Lessee to Lessor in full at such times as may be
specified in a notice from Lessor to Lessee. Lessee shall have no right to any
proceeds of reletting that remain following application of same in the manner
set forth herein. In addition to Lessor's rights and remedies as specified
above, Lessor shall, in the event of Lessor's default, also have the right to
accelerate the rent for the balance of the Lease Term and, upon Lessor's
election, the same shall be immediately due and payable by Lessee to Lessor.
29. RIGHTS AND REMEDIES. The various rights and remedies herein granted
to Lessor pursuant to this Lease shall be cumulative and in addition to any
others Lessor may be entitled to by law or in equity, and the exercise of one
or more rights or remedies shall not impair Lessor's right to exercise any
other right or remedy. In all events, Lessor shall have the right, upon notice
to Lessee, to cure any breach by Lessee at Lessee's sole cost and expense, and
Lessee shall reimburse Lessor for such expense upon demand.
30. BANKRUPTCY. If Lessor shall not be permitted to terminate this Lease
as hereinabove provided because of the provisions of Title 11 of the United
States Code relating to Bankruptcy, as amended ("Bankruptcy Code"), then
Lessee, as a debtor in possession or any trustee for Lessee agrees promptly,
within no more than fifteen (15) days following request by Lessor to the
Bankruptcy Court, to assume or reject this Lease and Lessee on behalf of itself
and any trustee agrees not to seek or request any extension or adjournment of
any application to assume or reject this Lease by Lessor with such Court. In
such event, Lessee or any trustee for Lessee may only
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assume this Lease if (a) it cures or provides adequate assurance that the
trustees will promptly cure any default hereunder, (b) compensates or provides
adequate assurance that the trustees will promptly compensate Lessor for any
actual pecuniary loss to Lessor resulting from Lessee's defaults, and (c)
provides adequate assurance of performance during the fully stated term hereof
of all of the terms, covenants, and provisions of this Lease to be performed by
Lessee. In no event after the assumption of this Lease shall any then-existing
default remain uncured for a period in excess of the earlier of ten (10) days or
the time period set forth herein. Adequate assurance of performance of this
Lease as set forth hereinabove shall include without limitation, adequate
assurance (1) of the source of rent reserved hereunder, (2) the assumption of
this Lease will not breach any provision hereunder. In the event of a filing of
a petition under the Bankruptcy Code, Lessor shall have no obligation to provide
Lessee with any services or utilities as herein required, unless Lessee shall
have paid and be current in all payments of Operating Costs, utilities or other
charges therefor.
31. ASSIGNMENT AND SUBLETTING. Lessee acknowledges that Lessee's
agreement to operate in the premises for the permitted use set forth herein
before set out for the fully stated term hereof was a primary inducement and
precondition to Lessor's agreement to lease the premises to Lessee.
Accordingly, Lessee's interest in the premises shall be limited to the use and
occupancy thereof in accordance with the provisions hereof and shall be
nontransferable. Any attempts by Lessee to sublet, in whole or in part, the
premises or to sell, assign, lien, encumber or in any manner transfer this
Lease or any interest therein shall constitute a default hereunder, as shall
any attempt by Lessee to assign or delegate the management or to permit the use
or occupancy of the premises or any part hereof by anyone other than Lessee.
Lessor and Lessee acknowledge and agree that the foregoing provisions have been
freely negotiated by the parties hereto and that Lessor would not have entered
into this Lease without Lessee's consent to the terms of this Section. Any
attempt by Lessee to sublet all or any portion of the premises, to encumber
same, or to in any manner transfer, convey, assign Lessee's interest therein,
allow the use or management thereof, shall be void ab initio. Should Lessee
request Lessor's consent to any assignment, subletting or other transfer, it is
agreed that Lessor's consent shall be in Lessor's sole and absolute discretion
and may be arbitrarily and capriciously withheld. Notwithstanding the above,
Lessee may assign without Owner's prior written consent to: (1) any party
controlling, controlled by or under common control with Lessee; (2) to any
party which acquires rights to Lessee's operating licenses or city franchise or
substantially all of the assets of Lessee; (3) to a financial institution for
purposes of securing indebtedness related to Lessee's communications system,
provided, however, that any interest acquired by a financial institution in
Lessee's interest under this lease shall be fully subject to the subordination
provisions of Paragraph 38. Nothing in this Lease shall prevent Lessee from
changing its corporate name or to advertise or offer services on the premises
under a trade or service name.
32. RIGHT OF ENTRY. Lessor or Lessor's agents and employees shall have
the right to enter the premises at all times to examine the same, to show them
to prospective purchasers or lessees of the building or shopping center, and to
make such repairs, alterations, improvements or additions as Lessor may deem
necessary or desirable, and any such entry shall not be deemed an eviction of
Lessee. Lessor shall be allowed to take all material and upon the premises that
may be required for any repairs, alterations, additions or improvements without
the same constituting an eviction of Lessee in whole or in part and the rent
shall in no way xxxxx while said repairs, alterations, improvements, or
additions are being made, by reason of loss or interruption of business of
Lessee, or otherwise. During the six months prior to the expiration of the
Lease Term or any renewal term, Lessor may exhibit the premises to prospective
lessees or purchasers, and place upon the premises the usual notices "For
Lease" or "For Sale", which notices Lessee shall permit to remain thereon
without molestation.
33. TAXES. Lessee shall be responsible for, and shall nay before
delinquency, all municipal, county or state taxes, levies and fees of every
kind and nature including, but not limited to, general or special assessments
assessed during the Lease Term against any personal property of any kind, owned
by or placed in, upon or about the premises by the Lessee and taxes assessed on
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the basis of Lessee's occupancy thereof including, but not limited to, taxes
measured by rents due from Lessee hereunder.
34. HAZARDOUS SUBSTANCES. The term "Hazardous Substances", as used in
this Lease, shall include, without limitation, flammables, explosives,
radioactive materials, asbestos, polychlorinated biphenyls (PCBs), chemicals
known to cause cancer or reproduction toxicity, pollutants, contaminants,
hazardous wastes, toxic substances or related materials, petroleum and
petroleum products, and substances declared to be hazardous or toxic under any
law or regulation now or hereafter enacted or promulgated by any governmental
authority.
a. LESSEE'S RESTRICTIONS. Lessee shall not cause or permit
to occur:
i. Any violation of any federal, state, or local law,
ordinance, or regulation now or hereafter enacted, related
to environmental conditions on, under or about the Premises
or arising from Lessee's use or occupancy of the Premises,
including but not limited to, soil and ground water
conditions; or
ii. The use, generation, release, manufacture, refining,
production, processing, storage or disposal of any
Hazardous Substance without Lessor's prior written consent,
which consent may be withdrawn, conditioned, or modified by
Lessor in its sole and absolute discretion in order to
insure compliance with all applicable Laws (hereinafter
defined), as such Laws may be enacted or amended from time
to time.
b. ENVIRONMENTAL CLEANUP
i. Lessee shall, at Lessee's own expense, comply with all
laws regulating the use, generation, storage,
transportation or disposal of Hazardous Substances ("Law").
ii. Lessee shall, at Lessee's own expense, make all
submissions to provide all information required by and
comply with all requirements of all governmental
authorities (the "Authorities") under the Laws.
iii. Should any Authority or any third party demand that a
cleanup plan be prepared and a cleanup be undertaken
because of any deposit, spill, discharge or other release
of Hazardous Substances that occurs during the term of this
Lease, at or from the Premises or which arises at any time
from Lessee's use or occupancy of the Premises, then Lessee
shall, at Lessee's own expense, prepare and submit the
required plans and all related bonds and other financial
assurances and Lessee shall carry out all such cleanup
plans.
iv. Lessee shall promptly provide all information regarding
the use, generation, storage, transportation or disposal of
Hazardous Substances that is requested by Lessor. If Lessee
fails to fulfill any duty imposed under this Paragraph
34(b) within thirty (30) days following its request, Lessor
may proceed with such efforts and in such case, Lessee
shall cooperate with Lessor in order to prepare all
documents Lessor deems necessary or appropriate to
determine the applicability of the Laws to the Premises and
Lessee's use thereof and for compliance therewith and
Lessee shall execute all documents promptly upon Lessor's
request and any expenses incurred by Lessor shall be
payable by Lessee as Additional Rent. No such action by
Lessor and no attempt made by Lessor to mitigate damages
under any Law shall constitute a waiver of any of Lessee's
obligations under this Paragraph 34(b).
35. NOTICE BY LESSEE. Lessee shall give immediate telephone or
telegraphic notice to Lessor in case of fire, casualty, or accidents in the
premises or in the building of which the premises are a part of or defects
therein and shall promptly thereafter confirm such notice in writing.
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36. ATTORNMENT. Lessee shall attorn and be bound to any of Lessor's
successors under all the terms, covenants and conditions of this Lease for the
balance of the remaining term. Lessor shall have the right to sell, transfer
and assign Lessor's interest in this Lease Agreement and to sell the shopping
center as a whole without affecting this Lease Agreement.
37. SUBORDINATION. This Lease shall be subordinate to the lien of any
mortgage, deed of trust or security deed or the lien resulting from any other
method of financing or refinancing now or hereafter in force against all or any
portion of the shopping center, including any buildings hereafter placed upon
the land of which the premises are a part, and including any and all advances
to be made under such mortgages, and all renewals, modifications, extensions,
consolidations and replacements thereof: Such lien being hereinafter sometimes
referred to as "mortgage" and such lien holder being sometimes referred to as a
"mortgagee". The aforesaid provisions shall be self-operative and no further
instrument of subordination shall be required to evidence such subordination.
Lessee covenants and agrees to execute and deliver upon demand such further
documents as Lessor or any mortgagee or proposed mortgagee shall desire to
evidence the subordination of this Lease to any such lien.
38. ESTOPPEL CERTIFICATE. Within ten (10) days after request therefor
by Lessor, Lessee shall deliver an estoppel certificate in recordable form to
any proposed mortgagee or purchaser (actual or proposed), or to Lessor,
certifying that this Lease is unmodified and in full force and effect (or, if
there have been modifications, that the Lease is in full force and effect as
modified, and stating the modifications), that there are no defenses or offsets
thereto (or stating those claimed by Lessee), the rental commencement date and
the dates to which rents have been paid.
39. SURRENDER OF PREMISES. At the expiration or earlier termination of
this Lease, Lessee shall surrender the premises to Lessor broom clean and in
the same condition as when tendered originally to Lessee by Lessor, reasonable
wear and tear and insured casualty excepted. Lessee shall promptly repair any
damage to the premises caused by the removal of any furniture, trade fixtures
or other personal property placed in the premises.
40. HOLDING OVER. Should Lessee with Lessor's written consent, hold over
at the end of the term, Lessee shall become a Lessee at will and any such
holding over shall not constitute an extension of this Lease. During such
holding over, Lessee shall pay the rent in effect as of the expiration date of
the Lease Term, or as the parties otherwise agree. If Lessee holds over at the
end of the term without Lessor's written consent, Lessee shall pay Lessor as
liquidated damages, a sum equal to twice the then effective rent until Lessee
surrenders possession in accordance with the provisions hereof. Nothing
contained herein shall be interpreted to grant permission to Lessee to
holdover, to continue in possession or to deprive Lessor of any rights and
remedies with respect thereto.
41. GUARANTEE. INTENTIONALLY OMITTED
42. WAIVER. The waiver by Lessor of any breach of any term, covenant or
condition herein contained shall not be deemed to nullify such term, covenant or
condition or to waiver any subsequent breach of the same or any other term,
covenant or condition herein contained. The subsequent acceptance of rent
hereunder by Lessor shall not be deemed to be a waiver of any preceding breach
by Lessee of any term, covenant or condition of this Lease, other than the
failure of Lessee to pay the particular rent so accepted, regardless of Lessor's
knowledge of a preceding breach at the time of such acceptance of rent. No
covenant, term or condition of this Lease shall be deemed to have been waived by
Lessor, unless such waiver be in writing by Lessor.
43. ACCORD AND SATISFACTION. No payment by Lessee or receipt by Lessor of
a lesser amount than the rent due as herein stipulated shall be deemed to be
other than on account of the earliest payment due, nor shall any endorsement or
statement on any check or any letter
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accompanying any check or payment as rent be deemed an accord and satisfaction,
and Lessor may accept such check or payment without prejudice to Lessor's right
to recover the balance of such rent or pursue any other remedy in this Lease
provided.
44. NO PARTNERSHIP. Lessor does not, in any way or for any purpose,
become a partner of Lessee in the conduct of its business, or otherwise, or
joint adventurer or a member of a joint enterprise with Lessee, as a result of
this Lease Agreement or the relationship established as a result hereof.
45. FORCE MAJEURE. In the event Lessor is delayed, hindered in or
prevented from doing or performing any act or thing required hereunder by
reason of strikes, lockouts, casualties, Acts of God, labor troubles, inability
to procure materials, financing, failure of power, governmental laws or
regulations, riots, insurrection, war or other causes beyond the reasonable
control of Lessor, then Lessor shall not be in default and the Lessor shall not
be liable or responsible for any such delays and the doing or performing of
such act or thing shall be excused for the period of the delay and the period
for the performance by Lessor of any such act shall be extended for a period
equivalent to the period of such delay.
46. NOTICES. Any notice, demand, request, report or other instrument
which may be or are required to be given under this Lease shall be delivered
personally or sent by either United States certified mail postage prepaid or
expedited mail service and shall be addressed
a. if to Lessor to the following:
ATTENTION:
Southern Boulevard Corporation
Attn: REAL ESTATE INVESTMENTS
X.X. Xxx 00000
Xxxxxxxxxx, Xxxxxxx 00000-0000
b. if to Lessee to the following:
ATTENTION:
Xx. Xxx Xxxxxx
Xxxxxxxxxx Cablevision & Entertainment, Inc.
0000 Xxxxxx Xxxx
Xxxxxxxxxx, XX 00000
Notices shall be effective upon delivery unless delivery is refused or cannot be
made, in which event, notice shall be effective on mailing.
47. CAPTIONS AND SECTION NUMBERS. The captions, headings, section
numbers, and index 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 such section or articles of this Lease nor in any way affect this
Lease.
48. TENANT/LESSEE DEFINED, USE OF PRONOUNS. The words "Tenant" and
"Lessee" shall be deemed and taken to mean each and every person or party
mentioned as a Tenant/Lessee herein, by the same one or more; and if there
shall be more than one Tenant/Lessee, any notice required or permitted by the
terms of this Lease may be given by or to any one thereof, and shall have the
same force and effect as if given by or to all thereof. The use of the neuter
singular pronouns to refer to Lessor or Tenant/Lessee shall be deemed a proper
reference even though Lessor or Tenant/Lessee may be an individual, a
corporation, or a group of two or more individuals or corporations. The
necessary grammatical changes required to make the provisions
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of this Lease apply in the plural sense where there is more than one Lessor or
Tenant/Lessee and to either corporations, association, partnerships, or
individuals, males or females, shall in all instances be assumed as though in
each case fully expressed.
49. BROKER'S COMMISSION. Lessor in consideration of the services by
leasing agent hereunder, namely ALFA Realty, Inc., agent for Lessor, does
hereby agree to pay said agent for their service rendered in effectuating this
lease agreement. One half to be paid when this lease is signed by both the
Lessor and Lessee and the remainder when the Lessee begins paying rent.
50. PARTIAL INVALIDITY. If any term, covenant or condition of this
Lease or the application thereof to any person or circumstance shall, to any
extent, be invalid or unenforceable, the remainder of this Lease, or the
application of such term, covenant or condition to persons or circumstances
other than those as to which it is held invalid or unenforceable, shall not be
affected thereby and each term, covenant or condition of this Lease shall be
valid and be enforced to the fullest extent permitted by law.
51. EXECUTION OF LEASE. The submission of this Lease for examination does
not constitute a reservation of or option for the premises and this Lease
becomes effective as a Lease only upon execution and delivery thereof by Lessor
and Lessee. If Lessee is a corporation, Lessee shall furnish Lessor with such
evidence as Lessor reasonably requires to evidence the binding effect on Lessee
of the execution and delivery of this Lease.
52. RECORDING AND SHORT FORM LEASE. Lessee agrees not to record this
Lease. However, Lessee and Lessor, upon request of either, agree to execute and
deliver a memorandum or so-called "short form" of this Lease in recordable form
for the purpose of recordation at the other's expense. Said memorandum or short
form of this Lease shall describe only the parties, the premises and the Lease
Term and shall incorporate this Lease by reference.
53. APPLICABLE LAW. The Laws of the State of Alabama shall govern the
validity, performance and enforcement of this Lease. The parties agree that no
estate in the leased premises or the shopping center in general, capable of
being transferred by Lessee, has been granted to Lessee under this Lease.
54. TIME IS OF THE ESSENCE. Time is of the essence of this Agreement.
55. SUCCESSORS AND ASSIGNS. Except as otherwise provided herein, this
Lease shall be binding upon and inure to the benefit of the parties hereto and
their respective heirs, personal representatives, executors, successors and
assigns.
56. SURVIVAL OF OBLIGATIONS. The provisions of this Lease with respect
to any obligation of Lessee to pay any sum owing or to perform any act after
the expiration or other termination of this Lease shall survive the expiration
or other termination of this Lease.
57. REPRESENTATIONS. Lessee acknowledges that neither Lessor nor Lessor's
agents, employees or contractors have made any representations or promises with
respect to the premises, the shopping center or this Lease except as expressly
set forth herein.
58. LESSOR'S LIABILITY. In the event of any alleged default of Lessor,
Lessee shall not seek to secure any claim for damages or indemnification by any
attachment, levy, judgment, garnishment or other security proceedings against
any property of the Lessor other than Lessor's equity in the shopping center,
it being agreed and understood, however, that the maximum recovery by Lessee
against Lessor shall be in an amount equal to Lessor's equity interest in the
shopping center. It is understood and agreed that in no event shall Lessee have
any right to levy execution against any property of Lessor other than its
interest in the shopping center. Such right of execution shall be subordinate
and subject to any mortgage or other encumbrance upon the shopping center.
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In the event of the sale or other transfer of Lessor's right, title, and
interest in the premises or the shopping center, Lessor shall be released from
all liability and obligations hereunder accruing after the date of such sale or
other transfer. Lessor, as used herein, shall mean any successor in interest,
corporation, individual, joint venture, tenancy in common, firm or partnership,
general or limited.
59. ENTIRE AGREEMENT. This Lease, including the Exhibits attached hereto
and made a part hereof, sets forth all the covenants, promises, agreements,
conditions and understandings between Lessor and Lessee concerning the premises
and the shopping center and there are no covenants, promises, agreements,
conditions or understandings, either oral or written between them other than as
set forth herein. Except as herein otherwise provided, no subsequent
alteration, amendment, change or addition to this Lease shall be binding upon
Lessor or Lessee unless reduced to writing and signed by them. Lessor and
Lessee agree that the fact either one of them may have drafted this Lease or
any portion thereof shall not be used to construct such provisions against its
author.
60. FIRST RIGHT OF REFUSAL. Lessor grants to Lessee the first right of
refusal on any adjoining space in Units C-4 or C-5 which shall become available
for rent during the term of this Lease. Any such adjoining space leased by
Lessee shall be for the balance of the lease term provided herein, including
any option term, if exercised. Upon such an expansion by Lessee all other terms
and conditions as are herein provided shall remain unmodified and in full force
and effect, except that the base rent for such added space shall be at a rental
rate mutually agreed to by both Lessor and Lessee, and shall be adjusted by the
Consumer Price Index for each lease year thereafter ad is provided in Paragraph
5.
IN WITNESS WHEREOF, the parties hereto have executed this Lease Agreement on the
day and year first above written.
WITNESS: LESSOR: SOUTHERN BOULEVARD
CORPORATION
/s/ Xxxxx Xxxx BY: /s/ Xxxxx X. Xxxxxxx
--------------------------- ----------------------------------------
ITS: Asset Manager, Commercial Properties
---------------------------------------
WITNESS: LESSEE: CYBERNET HOLDING d/b/a/
MONTGOMERY CABLEVISION &
ENTERTAINMENT, INC.
/s/ Xxxxx Xxxxxxx BY: /s/ Xxxxxx Xxxxxx
--------------------------- ----------------------------------------
ITS: Vice President
---------------------------------------
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EXHIBIT A
[A plat and site plan of the Sturbridge Village premises appears here]
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EXHIBIT "B"
STURBRIDGE VILLAGE SIGN REGULATIONS
A. This Sign Criteria is designed to insure continuity of signage within
the Center. The requirements contained herein are intended to provide
adequate exposure for the Lessee's merchandising and identification
while maintaining the overall appearance critical to the success of
the Center.
B. Lessee is required to purchase his own signs and pay all costs for
installation and any electrical service connections (to the Lessor's
master metered service) as required.
X. Xxxxxx reserves the right to review and approve or disapprove all
proposed signs and/or graphic treatments governed by these criteria
per the Lessor's interpretation of these criteria, and to require
revisions of any sign design which the Lessor judges not in
compliance.
D. The Criteria described below shall be followed and maintained during
the life of the Lease.
1. All signs must be fabricated as described below by a sign
contractor approved by the Lessor.
2. Each Lessee shall supply three (3) copies of scaled
drawings to the Lessor. The working drawings must
indicate the following:
a. The type and size of all lettering.
b. The location of the sign in relation to the store
facade.
c. Section through the sign to show its
construction.
d. Colors, finishes, and types of all materials.
e. Wattage, amperage, and light intensity.
f. Method of installation.
3. One (1) sign for each Lessee is permitted on the fascia.
4. The one (1) permitted sign is limited to the trading name
of the Lessee or may be a descriptive phrase or describe
work such as "Law Office" or "Dry Cleaners". No advertising
copy or slogans are permitted, i.e., "Shoes For the Whole
Family".
5. Only signs that have individual interior-lighted letters
will be permitted. Signs with exposed neon tubing or
exposed lamps; any exposed sign illumination or illuminated
sign cabinets; modules or "box" signs; signs of the
flashing, rotating, moving, blinking or animated type are
not permitted.
6. Maximum height of a single line or letter is 30";
maximum height of two (2) lines is 36". In no instance will
the vertical measurement of logo and letters exceed 30".
7. Maximum length of a sign copy of 80% of leased storefront.
8. Lessee may select any copy style, subject to approval of
the Lessor/owner.
9. Printed signs on storefront or show windows are prohibited.
10. Painted signs on the exterior surface of any wall of the
Demises Premises are prohibited.
11. Paper, cloth or cardboard signs, stickers, banners or flags
are prohibited.
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12. No exposed raceways, ballast boxes or electrical
transformers will be permitted except as required by code.
However, if signs are being placed on brick facia then
raceways must be used.
13. Sign company names or stamps will be concealed if
permitted by code.
14. Only one sign for each Lessee will be permitted unless
otherwise approved by Lessor in writing.
15. Electrical connection for signs will be the responsibility
of the Lessee.
16. No roof mounted signs will be permitted.
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EXHIBIT "C"
LESSOR'S BUILDOUT OR CONSTRUCTION WORK
The following construction or buildout shall be performed by Lessor, at Lessor's
expense, prior to the effective date of this lease, or date of possession,
whichever shall occur first.
Construction is to be done in accordance with the plans as
specifications prepared by Xxxxxx and Associates, Architects, and as are
mutually agreed to by both Lessor and Lessee, as evidenced by their signatures
upon said plans and specifications.
Lessor shall expend Twenty Seven Thousand Eight Hundred Eighty Four
and 00/100 Dollars ($27,884.00) to complete construction of the Premises to
Lessor's standard finish. In addition Lessor shall contribute Twelve Thousand
and 00/100 Dollars ($12,000.00) towards Lessee's buildout of the Premises, all
other cost in excess of these amounts to be born by Lessee.
Lessor grants to Lessee license to install two underground cables for
cable television service to the Premises from points along the east right-of-way
of Xxxxxx Road of Lessee's choosing, to a point within the Premises as required
by Lessee. Lessee shall bear all cost of said cable installation and shall
indemnify and hold Lessor harmless for any damages incurred in said cable
installation. Additionally, Lessee shall place the grounds of said Xxxxxx Road
right-of-way and any portions of the grounds of the shopping center in a similar
condition to that as existed prior to said cable installation. Lessee
acknowledges that Lessor's license to install and maintain said underground
cable shall expire upon the termination of Lessee's tenancy within the shopping
center.
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