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EXHIBIT 10.17
THE STATE OF TEXAS
COUNTY OF DALLAS
This agreement of lease, made this 1st day of June, 1992 by and between
Xxxx Xxxxx known herein as Lessor, and Action TV & Appliance Rental, Inc. known
herein as Lessee.
WITNESSETH, That the said Lessor does by these presents lease unto the
said Lessee commercial property fronting on the east side of X. Xxxxxxxxx St. in
the City of Mesquite, Texas, Dallas County, and having a street address of
Mesquite, Texas for the term of six (6) years, beginning on the 1st day of June,
1992, to be occupied as a service department/warehouse and not otherwise, paying
therefore the sum of Three hundred twenty-four thousand and no/100 dollars
($324,000.00) payable in monthly installments of Four thousand five hundred and
no/100 ($4,500.00) Dollars each, beginning on the 1st day of June, 1992, with a
monthly installment being payable on the 1st day of each month thereafter during
the term of this lease, and upon the conditions and covenants following:
(l) Lessee shall pay the rent at P. O. Xxx 000000, Xxxxxxxx, Xxxxx
00000-0000, monthly in advance as aforesaid, as the same shall
fall due.
(2) Lessee shall take good care of the property and its fixtures,
and suffer no waste; and shall, at Lessee's own expense and
cost, keep said premises in good repair. At the end or other
expiration of the term of this lease, Lessee shall deliver up
the leased premises in good order and condition. All
alterations, additions and improvements, except trade
fixtures, put in at the expenses of Lessee shall be the
property of Lessor and shall remain upon and surrendered with
the premises as a part thereof at the termination of this
lease. No improvements or alterations shall be made in or to
the leased premises without the consent of the Lessor.
(3) Lessee shall pay all utility bills incurred by Lessee during
the term of this lease. Lessee shall be responsible for all
taxes, insurance and maintenance during the term of this
lease.
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(4) Lessor shall not be liable to Lessee or to Lessee's employees,
patrons, or visitors, for any damage to person or property,
caused by the act or negligence due to the building on said
premises or any appurtenances thereof being improperly
constructed or being or becoming out of repair, nor for any
damage from any defects or want of repair of any part of the
building of which the leased premises form a part. Lessee
accepts such premises as suitable for the purposes for which
same are leased and accepts the building and each and every
appurtenance thereof, and waives defects therein and agrees to
hold the Lessor harmless from all claims for any such damage
to person or property.
(5) Lessee shall keep in force a policy of liability insurance, as
protection against any claims which may be made for damage to
person or property, as described in the preceding paragraph of
this lease; and Lessee shall provide Lessor with a
certificate, or other written evidence, showing the existence
of such liability insurance and the amount of coverage
provided by same,
(6) Any holding over by the Lessee of the hereby leased premises,
after the expiration of this lease, shall operate and be
construed as a tenancy from month-to-month at a rental of
$4,500.00 a month, and such month-to-month tenancy shall be
subject to all of the terms and conditions of this lease
agreement.
SIGNED the day and date above written.
/s/ Xxxx Xxxxx
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Lessor - Xxxx Xxxxx
Action TV & Appliance Rental, Inc.
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Lessee
by: /s/ K. Xxxxx Xxxx
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K. Xxxxx Xxxx
it's Vice President
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