1
EXHIBIT 10.89
THE PRUDENTIAL - XXX XXXXXXX COMPANY
A member of the
Xxx Xxxxxxx Real Estate Services Group, Inc.
RESIDENTIAL LEASE AGREEMENT
This is more than a receipt for money. This is intended to be a legally binding
contract. Do not sign it until you have thoroughly read and understood each
provision.
This Residential Lease Agreement ("Agreement") is entered into at Playa Del
Rey, State of California, this _____ day of _________, 1996, by and between
SOLOMON, XXXXXXXX & XXXXXXXX ("Lessor"), and OPTIMUMCARE CORP. ("Lessee").
In consideration of the rents and covenants contained herein, Lessor does
hereby lease to Lessee, and Lessee does hereby lease from Lessor those certain
premises with appurtenances situated in the City of Playa Del Rey, County of
Los Angeles, State of California, and more particularly described as follows:
000 Xxxxxx Xxxx. ("Property").
[ ] Furnished, [X] Unfurnished, [X] Single Family Residence, [ ] Condominium
Unit and Parking Space(s) No. ______, [ ] Storage Area No. ___,
[ ] Other ___________________________________________________________________
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The following personal property is included as a part of this Agreement: None
1. RENT AND TERM. Lessee agrees to pay Lessor rent at the rate of $_______ per
month in advance, on the 1st day of each calendar month. The term of this
Agreement shall begin on November 1, 1996 ("Commencement Date"), as a:
[ ] a. Month to month tenancy (Periodic Tenancy), which may be terminated
by either party, by giving written notice to the other party at
least 30 days prior to the intended termination date; or
[ ] b. A lease with the Commencement Date as stated above and an ending
date of October 31, 1998, with a total rental for the full term
of $49,200, payable in monthly installments as defined above; or
[X] c. Other: 1st 12 months @ $2,000 and 2nd 12 months @ $2,100.
2. DEPOSITS AND PREPAID RENTAL.
a. Lessee has given The Prudential Xxx Xxxxxxx Company ("Broker")
an Xxxxxxx Money Deposit in the amount of...................... $________
in the form of [ ] cashier's check, [ ] certified check,
[ ] personal check, [ ] other. In the event the Xxxxxxx
Money Deposit is made in the form of a personal check, Lessee
agrees to replace such check with a cashier's check within
____ days of Lessor's acceptance of this Agreement.
b. Lessee shall pay to Lessor the first month's rent, in the
amount of...................................................... $_______
c. Lessee shall pay to Lessor a Security Deposit, in the amount of $_______
d. Lessee shall pay to Lessor additional sums for _____________
in the amount of............................................... $_______
e. Lessee agrees to pay to Broker, if Lessee is represented by The
Prudential Xxx Xxxxxxx Company, the sum of One Hundred Dollars
($100.00) representing reimbursement to Broker of a portion of
Broker's administrative and clerical costs, including the cost
of document preparation and processing. Said sum shall only be
payable to Broker in full upon execution of this Agreement by
Lessor and Lessee.............................................. $ 100.00
Total Deposits, Prepaid Rent and Fees due (2a through 2e)...... $_______
Less (Item 2a) any Deposits received with this offer...........($_______)
Balance due, in the form of a cashier's check, on or before
_________________, 19____ ..................................... $_______
Note: The total advance payment, including the first month's rent may not
exceed three times one month's rent for an unfurnished property or four times
one month's rent for a furnished property.
3. LATE CHARGE/BAD CHECKS. Lessee agrees to pay a late charge of six (6)
percent of all rents not paid within ___ calendar days from the date due
under this Agreement. In the event Lessee pays any rent installment with a
check that is returned for insufficient or uncollected funds, Lessee shall
pay all subsequent rent due under this Agreement by cashier's check. Lessee
shall also pay Lessor $15.00 for each check that is returned to Lessor by
Lessee's bank.
4. RETENTION OF DEPOSIT. If Lessee defaults in the performance of any
obligation under this Agreement, Lessor may apply or retain all or any part
of the security deposit for, but not limited to, the following reasons: (a)
to repair or replace any items damaged or missing; (b) to replace any keys,
cards, remote control openers, or locks given to Lessee but not returned;
(c) to clean and return the property and the items in it, into the condition
it was in when the Lessee first occupied the property with the exception of
reasonable wear and tear; (d) to pay for damages caused in the event of
Lessee's breach of this Agreement including, but not limited to, a pro-rated
portion of any lease commissions; (e) to pay arrearrages in rent and other
charges due; (f) the deduction of late charges, if any, which have accrued
and have not been paid by Lessee. If used during the tenancy, Lessee agrees
to reinstate the total security deposit within five days after written
notice is given to Lessee in person or by mail. If Lessee complies with all
the covenants and conditions of this Agreement, the deposit, less any sums
expended by Lessor and accounted for to Lessee, shall be returned to Lessee
within the period required by law. IF THE DEPOSIT IS NOT ADEQUATE TO COVER
ALL DAMAGES, COSTS AND ARREARAGES, LESSEE MUST PAY ALL COSTS WHICH EXCEED
THE AMOUNT OF THE SECURITY DEPOSIT.
5. HANDLING AND/OR TRANSFER OF DEPOSIT. Lessee shall not be entitled to any
interest on the deposit except as required by law. Lessor shall have the
right to commingle said deposit with other funds of the Lessor. Should
Lessor sell Lessor's interest in the Property, Lessor shall transfer to the
purchaser the unexpended funds deposited by Lessee and shall so notify
Lessee by certified U.S. mail. Lessor shall be discharged from any further
liability for such funds. Any claim for refund of security deposit or other
sums shall be handled directly between Lessor and Lessee.
Lessee and Lessor acknowledge receipt of copy of this page, which constitutes
Page 1 of 5 pages.
Lessees' Initials ______________ OFFICE USE ONLY
Lessors' Initials ______________ Reviewed by Broker or Designee___Date________
2
PROPERTY ADDRESS 000 Xxxxxx Xxxx.
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6. POSSESSION. If Lessee abandons or vacates the Property, Lessor may terminate
this Agreement and regain lawful possession. If Lessor for any reason
cannot deliver possession of the Property to Lessee on the Commencement
Date, Lessor shall not be liable to Lessee for any resulting loss or
damage, but there shall be a proportionate reduction of rent through the
date possession is delivered. In the event Lessor is unable to deliver
possession within _____ calendar days from scheduled Commencement Date,
Lessee may, prior to Lessor's delivery of the Property, declare this lease
to be null and void and all money paid to Lessor shall be refunded to
Lessee.
7. USE/RESTRICTIONS. It is agreed that the Property shall be used only for
residential purposes, and for no other purposes whatsoever, for the
occupancy of the following named persons only: OptimumCare business as used
at the date of execution of this lease and no animals except ____________.
Any changes or exceptions to the occupancy must be approved in writing in
advance by Lessor. Lessee agrees to make no use of the Property, nor to do
any acts, which will increase the existing rate of insurance on the
Property, or will cause cancellation of any insurance policy covering the
Property. Lessee further agrees to comply with all laws, ordinances,
covenants, conditions, restrictions, rules, and orders affecting the
Property or Lessee's occupancy.
8. UTILITIES/SERVICES. Lessee shall pay for all gas, heat, light, power, water,
telephone service, alarm or security service, cable television and other
services supplied to the property, except: N/A
9. CONDITION, REPAIRS AND MAINTENANCE. Lessor shall maintain the exterior
walls, roof, electrical wiring, heating system, air conditioning system (if
any), water heater, built-in appliances, and water lines in good and
sanitary order, condition, and repair, at Lessor's sole cost and expense.
Except for those items, Lessee shall, at Lessee's sole cost and expense,
keep and maintain the Property, including household furniture, fixtures,
goods and chattels belonging to Lessor, in the manner in which they were
received, reasonable wear and tear excepted. In the event damage is caused
by the abuse or negligence of Lessee or Lessee's guests or invitees, Lessee
shall pay the full cost and expense of repairing such damage. Lessee shall
immediately notify Lessor of damage from any cause. Lessee has examined the
Property, all furniture, furnishings, and appliances, if any, and fixtures,
including smoke detector(s), and hereby agrees that the Property is now in a
habitable and good condition except: N/A. Lessor agrees to maintain
landscaping, swimming pool and spa, if any, and Lessee agrees to adequately
water said landscaping and add water as necessary to the swimming pool and
spa. Lessor AND LESSEE ACKNOWLEDGE AND AGREE THAT BROKER HAS NO
RESPONSIBILITY OR LIABILITY FOR THE CONDITION OF THE PROPERTY OR FOR ANY
REPAIR OR MAINTENANCE OF THE PROPERTY. Lessor AND LESSEE SHALL LOOK SOLELY
TO EACH OTHER FOR THE PERFORMANCE OF REPAIR AND MAINTENANCE OBLIGATIONS
UNDER THIS AGREEMENT.
10. LEAD-BASED PAINT DISCLOSURE. Prior to occupancy, Lessor shall: (a) deliver
to Lessee the EPA booklet entitled "Protect Your Family From Lead in Your
Home" and (b) notify Lessee of all known lead-based paint hazards on the
Property.
11. INVENTORY. Any furnishings and equipment to be included by Lessor in this
Agreement, other than the items set forth herein, shall be set forth in a
special inventory, to be signed by both Lessee and Lessor. It is agreed all
such furnishings and equipment are in good condition when delivered, unless
specifically noted in the inventory. Lessee agrees, upon termination of
occupancy under this Agreement, to surrender to Lessor the Property with any
furnishings and equipment belonging to Lessor in the same condition as when
received, reasonable wear and tear excepted. Lessor AND LESSEE ACKNOWLEDGE
AND AGREE THAT BROKER IS NOT RESPONSIBLE FOR PREPARING OR CHECKING
INVENTORY.
12. ALTERATIONS AND ADDITIONS. Lessee shall not paint, wallpaper, or make any
alterations to the Property without the prior written consent of Lessor. Any
additions to, or alterations of, the Property, with the exception of movable
furniture, shall become at once a part of the Property and belong to Lessor.
Lessee shall not change or add any locks, opening devices and/or security
codes on the Property without the prior written consent of Lessor. Should
Lessor so consent, Lessee shall give Lessor keys, codes, and/or opening
devices within forty-eight (48) hours of any such change.
13. FREE FROM LIENS. Lessee shall keep the Property free from any liens arising
out of any work performed, materials furnished, or obligations incurred by
Lessee or any person acting in Lessee's behalf.
14. ENTRY/SHOWING BY Lessor. Lessee shall permit Lessor and/or Lessor's
representatives to access the Property at all reasonable times and with
reasonable notice for the purpose of inspecting, maintaining, repairing or
showing the Property to prospective purchasers or tenants. Verbal or written
notice at least twenty-four (24) hours in advance of entry shall be deemed
reasonable notice. No notice shall be required in case of emergency or to
perform repairs or maintenance requested by Lessee. Lessee shall take
reasonable precautions to safeguard, protect, and insure personal property
items that might be accessible during the inspection, maintenance, repair,
or showing of the Property. Lessor AND LESSEE ACKNOWLEDGE AND AGREE THAT
BROKER IS NOT RESPONSIBLE FOR LOSS OF PERSONAL PROPERTY OR DAMAGE TO THE
REAL PROPERTY.
15. DAMAGE. If the Property is damaged from any cause rendering same
uninhabitable, either party shall have the right to terminate this Agreement
by giving written notice to the other party within fifteen (15) days after
the damage occurs. If this right is exercised by either party, rent for the
current month shall be prorated between the parties as of the date the
damage occurred. Any unearned rent and/or unused deposits shall be refunded
to Lessee. If this Agreement is not terminated as provided in this
paragraph, Lessor shall promptly repair the damage then the rent shall be
reduced proportionately until the Property is repaired and ready for
lessee's occupancy. If any damage or destruction occurs as a result of abuse
or negligence of Lessee, or Lessee's guests or invitees, then Lessor only
shall have the above right of termination, and no reduction of rent shall be
made.
16. ASSIGNMENT/SUBLETTING. Lessee shall not sublet the Property or assign this
Agreement, or the tenancy, or any interest therein, without the prior
written consent of Lessor. Any consent to one assignment or subletting shall
not be construed as a consent to any subsequent assignment or subletting.
Lessor shall not unreasonably withhold such consent. Unless prior written
consent is obtained, any assignment, transfer, or subletting of the
Property, this Agreement, or the tenancy, by voluntary act of Lessee,
operation of law, or otherwise, shall be null and void and shall, at the
option of Lessor, terminate this Agreement.
17. ABANDONMENT/DEFAULT. Lessee shall not vacate or abandon the Property at any
time during the term of this Agreement. In the event of any breach by Lessee
of this Agreement, in addition to other rights and remedies available at law
or in equity, Lessor shall have the option immediately to terminate this
Agreement and all rights of Lessee hereunder by giving written notice of
termination. In the event Lessor elects to so terminate this Agreement,
Lessor may recover from Lessee all amounts of unpaid rents for the entire
term, less any amounts received by Lessor for the re-letting of the
Property. In the event Lessee vacates or abandons the Property or otherwise
breaches this Agreement, Lessor may from time to time, without terminating
this Agreement, either recover all rents as they become due or re-let the
Property or any part thereof upon such terms and conditions as Lessor deems
appropriate.
18. INDEMNIFICATION OF Lessor. Lessee, as a material part of the consideration
to Lessor under this Agreement, hereby waives all claims against Lessor,
Lessor's employees, and agents for damage to household furniture, goods,
vehicles, and other property, and for injury to any persons in, upon, or
about the property, from any cause arising at any time, except for Lessor's
negligence. Lessee agrees to indemnify and hold harmless Lessor, Lessor's
employees, and agents, from and against all claims of, and liability for,
any such damage to property and injury to persons, from any cause arising at
any time.
19. WAIVER. The waiver by Lessor of any breach of any covenant or condition of
this Agreement shall not be construed as a waiver of any subsequent breach
of the same or any other covenant or condition. The subsequent acceptance of
rent by Lessor shall not be construed as a waiver of any preceding breach by
Lessee of any covenant or condition of this Agreement, other than the
failure of Lessee to pay the particular rent so accepted, regardless of
Lessor's knowledge of such preceding at the time of acceptance of such rent.
20. INSURANCE/SECURITY. Lessee is advised to secure, at Lessee's expense,
insurance policies covering any potential loss or damage to Lessee's
Lessee and Lessor acknowledge receipt of copy of this page, which constitutes
Page 2 of 5 pages.
Lessees' Initials ______________ OFFICE USE ONLY
Lessors' Initials ______________ Reviewed by Broker or Designee___Date________
3
PROPERTY ADDRESS 000 Xxxxxx Xxxx.
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personal property or vehicles, and liability for injury to any persons in,
upon, or about the Property. Lessee understands that Lessor does not
maintain insurance to cover any lessee's liabilities, loss, or damage,
whether caused by theft, vandalism, other criminal act, negligence of any
person, fire, rain, water overflow/leakage, act of God, and/or any other
causes. Lessee agrees Lessor is not liable for these occurrences and Lessee
shall look solely to Lessee's insurance policies for any reimbursement for
any such liabilities, injuries, loss, or damage sustained by Lessee. LESSEE
AGREES NOT TO SEEK RECOVERY OR REIMBURSEMENT FROM LESSOR OR BROKER FOR SUCH
OCCURRENCES OR ITEMS. LESSEE FURTHER AGREES LESSOR AND BROKER HAVE NO
OBLIGATION TO PROVIDE ANY SECURITY FOR THE PROPERTY.
21. NOTICE: THE AMOUNT OR RATE OF REAL ESTATE COMMISSIONS IS NOT FIXED BY LAW.
THEY ARE SET BY EACH BROKER INDIVIDUALLY AND MAY BE NEGOTIABLE BETWEEN THE
LESSOR AND BROKER.
COMMISSIONS. For Broker's services in arranging this Agreement, Lessor
agrees to pay Broker as commission 6% of the total lease or rental payments
to be made by Lessee for the entire term but payable now for the first year
only then for the second year at the beginning of the 2nd year of this
Agreement, or % of the first month's rent if the agreed term is
month-to-month or is six (6) months or less. The commission shall be paid
in full, irrespective of agency relationship(s), upon execution of this
Agreement. See above. Lessor authorizes Broker to deduct the commission
from any amounts paid by Lessee for rent or deposits. To the extent such
rent and deposits are inadequate to pay in full the commission due, Lessor
agrees to pay promptly to Broker any balance due. Of the commissions
referred to in this Agreement, % shall be paid to The Prudential Xxx
Xxxxxxx Company and % to (other broker).
22. RENEWAL COMMISSIONS. Upon any extension or renewal of this Agreement or the
tenancy, Lessor shall pay to Broker an additional commission of 6% of the
total rent payments for said extension or renewal period. Lessor shall
immediately notify Broker of each extension or renewal. The commission
shall be paid within five (5) days after commencement of the extension or
renewal. In the event Lessor fails to pay to Broker the additional
commission when due, then, upon written notice by Broker to Lessee, Lessee
shall pay to Broker the rent for each extension or renewal period
commencing with the rent due immediately following Lessee's receipt of such
notice. Rent shall continue to be paid to Broker until all additional
commission due Broker has been paid in full. Lessee shall then resume
paying rent directly to Lessor. Lessor agrees Broker may deduct and retain
the commission due from rents collected by Broker and forward any balance
to Lessor. See above.
23. SALE OR EXCHANGE. In the event Lessee, or any person or entity related
to, or controlled by, or affiliated with Lessee, acting directly or
indirectly, acquires title to the Property during Lessee's occupancy or
within twelve (12) months after the termination of Lessee's occupancy,
Broker shall be considered the procuring cause in negotiating said transfer
of title or ownership by reason of this Agreement. As compensation for such
services, Lessor agrees to pay Broker as commission 5% of the total
consideration involved in such transfer upon close of escrow, or if there
be no escrow, then upon execution of any sale contract or recordation of
any deed, whichever occurs first.
24. LEASE PROCESSING FEE. Lessor agrees to pay to Broker, if represented by
The Prudential Xxx Xxxxxxx Company, the sum of One Hundred Dollars
($100.00), representing a reimbursement to Broker of a portion of Broker's
administrative and clerical costs, including the cost of document
preparation and processing. Said sum shall only be payable to Broker in
full upon execution of a lease or rental agreement by Lessor.
25. HOLDING OVER. If Lessee remains in possession of the Property past the
expiration of the term of this Agreement or any extension or renewal, with
written consent of Lessor, then, unless otherwise agreed, the holding over
shall create a month-to-month tenancy at a monthly rent of $ , or the
rent for the immediately preceding month, whichever is greater. Should
Lessee request a holdover, or extension or renewal of the term of this
Agreement, Lessee shall notify Lessor in writing no later than sixty (60)
days prior to the expiration of this Agreement. Any holdover, extension, or
renewal is subject to the written consent of Lessor. All other terms and
conditions of this Agreement shall remain in full force and effect.
Lessee's Lessor's
Initials Initials
26. _____/_____ _____/_____ OPTION TO PURCHASE. By initialing this paragraph,
Lessor and Lessee acknowledge that this Agreement is subject to the
provisions of the Option To Purchase which is attached as an addendum
hereto.
Lessee's Lessor's
Initials Initials
27. _____/_____ _____/_____ RENT CONTROL. By initialing this paragraph, Lessor
and Lessee acknowledge the Property may be subject to a rent control law.
Lessor and Lessee hereby acknowledge they have been advised to check with
legal counsel and/or the rent control board to determine rights and
obligations under the law. Lessor represents the Property is not leased for
any rent in excess of the maximum allowable rent permitted under such rent
control law and the rental is in full compliance with such law. Lessor and
Lessee further acknowledge they are not relying upon any advice from Broker
regarding rent control laws.
28. HOME PROTECTION PLAN. Lessor and Lessee acknowledge that home protection
plans may be available which provide various types of limited coverage to
both Lessor and Lessee. Broker does not endorse or approve any particular
company or plan.
29. CONDOMINIUM LEASE. In the event the Property is in a condominium, stock
cooperative, or planned development, Lessee agrees to abide by the
covenants, conditions, and restrictions, rules, regulations, orders, and
decisions of the Homeowners' Association governing the development. Lessor
further agrees to keep current all dues and/or assessments that may be
levied against the Property during the term of this Agreement. Upon
request, Lessor shall provide to Lessee a copy of the covenants,
conditions, and restrictions, rules, and regulations of the Homeowners'
Association.
30. BANKRUPTCY/FORECLOSURE. Lessee's rights under this Agreement may be
affected by a bankruptcy of Lessor or foreclosure of a lender's interest in
the Property. Lessee has been advised to obtain legal advice from Lessee's
attorneys regarding Lessee's rights in the event of a bankruptcy or
foreclosure. Lessor represents there is not presently a notice of default
recorded against the Property and the Property is not an asset of any
bankruptcy proceeding. Lessor further agrees to inform Lessee immediately
in the event a notice of default is recorded against the Property or the
Property becomes an asset of any bankruptcy proceeding during the term of
this Agreement or any extension or renewal. LESSEE ACKNOWLEDGES THAT LESSEE
IS NOT RELYING ON ANY REPRESENTATIONS OR STATEMENTS MADE BY BROKER
REGARDING THESE MATTERS.
31. INFORMATION AUTHORIZATION. Lessor and Lessee agree that Broker may report
the terms of this transaction to multiple listing services.
32. NOTICES. All notices to Lessee shall be given in writing, personally, or
by deposit in the United States mail, postage prepaid and addressed to
Lessee at the Property, whether Lessee still occupies or has departed from,
abandoned, or vacated the Property, unless Lessee has given a different
address in writing for this purpose.
33. SUCCESSORS/ASSIGNS. Subject to the provisions on assignment and
subletting, the covenants and conditions in this Agreement shall apply to
and bind the heirs, successors, executors, administrators, and assigns of
all types of the parties. If at any time the Lessee consists of more than
one person or entity, all such persons and entities shall be jointly and
severally liable hereunder.
34. VALIDITY/SEVERABILITY. Any provision of this Agreement which is held to be
invalid shall not affect the validity or enforceability of any other
provisions of this Agreement.
35. MEDIATION OF DISPUTES. Any dispute or claim in law or equity, except an
unlawful detainer action and the subject matter of an unlawful detainer
action, arising out of this Agreement or any resulting transaction shall be
submitted to neutral, non-binding mediation before the commencement of
arbitration, litigation, or other proceeding, including all disputes or
claims involving Broker (other than commission disputes between brokers
only). The parties to the dispute or claim agree to act in good faith to
participate in the mediation, and to identify a mutually acceptable
mediator. If a mediator cannot be so selected, the dispute or claim shall
be submitted for mediation to and in accordance with the mediation rules
of
Lessee and Lessor acknowledge receipt of copy of this page, which constitutes
Page 3 of 5 Pages.
Lessees' Initials ______________ OFFICE USE ONLY
Lessors' Initials ______________ Reviewed by Broker or Designee___Date________
4
PROPERTY ADDRESS 000 Xxxxxx Xxxx.
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JAMS/ENDISPUTE, with all parties to the mediation sharing equally in its
cost. If the dispute or claim is successfully resolved in the mediation,
the resolution will be documented by a written agreement executed by all
parties to the dispute or claim. If the mediation does not successfully
resolve the dispute or claim, the mediator shall provide written notice of
same to all parties to the mediation, and the parties may proceed to seek
other resolution of the dispute or claim, in accordance with the terms of
this Agreement and their other legal rights. If any party obligated to
mediate a dispute or claim, commences arbitration or litigation without
first attempting in good faith to resolve the matter through mediation,
then, in the discretion of the arbitrator or judge, that party shall not be
entitled to recover attorney fees, if that party or parties prevails in the
arbitration or litigation, against the other party to the dispute or claim.
36. ARBITRATION OF DISPUTES. Any dispute or claim in law or equity arising out
of this Agreement or any resulting transaction shall be decided by neutral,
binding arbitration in accordance with the rules of JAMS/ENDISPUTE, and not
by court action except as provided by California law for judicial review of
arbitration proceedings. Judgment upon the award rendered by the
arbitrator(s) may be entered in any court having jurisdiction. The parties
shall have the right to discovery in accordance with California Code of
Civil Procedure, Section 1283.05.
Any dispute or claim by or against the broker(s), arising out of this
Agreement or any resulting transaction, shall be submitted to arbitration
as above, provided the broker(s) shall have agreed, prior to or within a
reasonable period after the dispute or claim is presented, to submit it to
arbitration consistent with this provision.
The following matters are excluded from arbitration hereunder: (a) a
judicial or non judicial foreclosure or other action or proceeding to
enforce a deed of trust, mortgage or real property sales contract as
defined in California Civil Code, Section 2985; (b) an unlawful detainer
action; (c) the filing or enforcement of a mechanic's lien; (d) any matter
which is within the jurisdiction of a small claims or probate court; (e) an
action for bodily injury or wrongful death; or (f) an action for latent or
patent defects to which California Code of Civil Procedure Sections 337.1
or 337.15 applies. The filing of a judicial action to enable the recording
of a notice of pending action, for order of attachment, receivership,
injunction, or other provisional remedies, shall not constitute a waiver of
right to arbitrate under this provision.
NOTICE: BY INITIALING IN THE SPACE BELOW, YOU ARE AGREEING TO HAVE ANY
DISPUTE ARISING OUT OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF
DISPUTES' PROVISION DECIDED BY NEUTRAL ARBITRATION AS PROVIDED BY
CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE
THE DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE
BELOW, YOU ARE GIVING UP YOUR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL,
UNLESS SUCH RIGHTS ARE SPECIFICALLY INCLUDED IN THE 'ARBITRATION OF
DISPUTES' PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING
TO THIS PROVISION, YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF
THE CALIFORNIA CODE OF CIVIL PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION
PROVISION IS VOLUNTARY.
WE HAVE READ AND UNDERSTOOD THE FOREGOING AND AGREE TO SUBMIT DISPUTES
ARISING OUT OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES'
PROVISION TO NEUTRAL ARBITRATION.
Lessees' Initials _____/_____, Lessors' Initials:_____/_____.
37. ADDITIONAL TERMS.
1. AFTER THE FIRST 12 MONTHS OF THIS LEASE IT IS AGREED THAT IN THE EVENT
OF A SALE OF SUBJECT PROPERTY BY LESSOR PRIOR TO ITS EXPIRATION, LESSOR
WILL GIVE LESSEE FOUR (4) MONTHS NOTICE TO VACATE PREMISES.
2. LESSOR GRANTS LESSEE THE RIGHT TO PURCHASE SAID PROPERTY ON THE SAME
TERMS AND CONDITIONS THAT LESSOR ACCEPTS FROM A THIRD PARTY FOR THE
SALE OF THE BUILDING. LESSEE SHALL ACCEPT OR REJECT SAID OFFER WITHIN
48 HOURS OF PRESENTATION. IF THE OFFER IS NOT ACCEPTED IN WRITING
WITHIN 48 HOURS BY WRITTEN COMMUNICATION DELIVERED TO LESSOR, THEN SAID
OFFER WILL BE DEEMED TO BE REFUSED.
3. THIS LEASE IS A RENEWAL OF THE LEASE EXECUTED OCT. 10, 1995 AND IS
SUBJECT TO ALL TERMS AND CONDITIONS CONTAINED THEREIN.
38. CAPTIONS. The captions of this Agreement are for convenience only, are not
a part of this Agreement, and do not in any way limit or amplify the terms
and provisions of this Agreement.
39. ATTORNEY'S FEES. In any action, proceeding, or arbitration between the
Lessor and the Lessee arising out of this Agreement or any resulting
transaction, the prevailing Lessor or Lessee shall be entitled to
reasonable attorney's fees and costs from the non-prevailing Lessor or
Lessee.
40. FACSIMILE SIGNATURES. Should Lessee or Lessor transmit signed documents by
facsimile, Lessee and Lessor shall accept and rely upon such documents in
the same manner as if those transmitted copies were original signed
documents. Lessee and Lessor shall forward signed originals of documents
within 48 hours of transmission. The failure of Lessee or Lessor to forward
signed originals of documents shall not invalidate the documents or this
Agreement.
Lessee and Lessor acknowledge receipt of copy of this page, which constitutes
Page 4 of 5 Pages.
Lessees' Initials ______________ OFFICE USE ONLY
Lessors' Initials ______________ Reviewed by Broker or Designee___Date________
5
PROPERTY ADDRESS 000 Xxxxxx Xxxx.
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41. AGENCY CONFIRMATION. The following agency relationship(s) are hereby
confirmed for this transaction:
Listing agent: THE PRUDENTIAL XXX XXXXXXX CO. is the agent of (check one):
[ ] the Lessor exclusively; or [X] both the Lessor and Lessee.
Leasing agent:_____________________(if not the same as Listing agent)
is the agent of (check one):
[ ] the Lessee exclusively; or [ ] the Lessor exclusively; or [ ] both
the Lessee and Lessor.
42. PLACE OF PAYMENTS. Lessee agrees to pay all rent by personal check at the
address indicated below Lessor's signature, or at such address and in such
manner as Lessor may specify.
43. INCORPORATION OF PRIOR AGREEMENTS AND AMENDMENTS. This Agreement covers in
full every agreement of any kind between the parties concerning the lease
or rental of the Property. All preliminary discussions, negotiations, and
agreements with respect to the lease or rental of the Property, except
those contained herein, are superseded and of no further force and effect.
The parties agree no other representations or promises have been made. No
verbal or implied agreement or covenant shall vary the provisions of this
Agreement. Any changes or additions to this Agreement must be approved in
writing by all parties or their respective successors in interest, subject
to the provisions concerning assignments and sublettings.
44. APPLICATION AND CREDIT REPORT. Lessee warrants the accuracy of the
information in Lessee's rental application and gives permission to Lessor
to verify Lessee's information and to obtain Lessee's credit report. Lessee
tenders to Broker the non-refundable sum of $15.00 to compensate for the
cost of obtaining a credit report in Lessor's behalf. Broker cannot and
will not interpret or verify any information furnished by Lessee or in
Lessee's credit report. LESSOR SHALL HAVE TWO (2) BUSINESS DAYS FROM THE
DATE LESSOR SIGNS THIS AGREEMENT TO NOTIFY LESSEE IN WRITING SHOULD LESSOR
REASONABLY DISAPPROVE LESSEE'S APPLICATION BASED ON CREDIT OR OTHER
INFORMATION REVIEWED BY LESSOR. IN SUCH EVENT LESSEE'S DEPOSIT (BUT NOT THE
CREDIT REPORT FEE) SHALL BE REFUNDED IN FULL. IF LESSOR FAILS TO NOTIFY
LESSEE, THIS CONDITION SHALL BE DEEMED SATISFIED.
45. REPRESENTATIONS. The parties agree Broker makes no representations
regarding the ability of Lessee or Lessor to perform under the terms of
this Agreement. Broker is unable to verify and/or determine the financial
stability and performance of the Lessor and Lessee. Lessor assumes full
responsibility to determine the creditworthiness of Lessee. Therefore,
Lessor and Lessee are hereby advised to seek independent legal counsel
regarding any risks, rights, or obligations that may arise from either
party suffering financial hardship, bankruptcy, or foreclosure.
It is understood that Broker is not providing property management services
for Lessor or Lessee and is not responsible for damage by Lessee to the
Property.
Lessor and Lessee understand it is illegal for Lessor or Broker to refuse
to show or lease the Property to any person because of race, color,
religion, national origin, ancestry, sex, marital or family status,
children or physical disability.
Any obligation of Lessor to make alterations, improvements or repairs to
the Property during the term of this Agreement shall be solely the
obligation of Lessor. Lessee and Lessor acknowledge that Broker is not
responsible for the parties' performance hereunder, and shall look solely
to the other party for performance of obligations, duties and
responsibilities.
No representation is made as to the legal validity of any provision or the
adequacy of any provision in any specific transaction. A real estate broker
is the person qualified to advise on real estate. If you desire legal
advice, consult your attorney.
Lessor represents that Lessor is the owner of the Property or has the
authority to execute this Agreement on behalf of the owner of the Property,
and hereby agrees to lease the Property on the above terms and conditions.
Lessor and Lessee acknowledge that they have read and understood each and
every paragraph of all pages of this Agreement; agree to the above
confirmation of agency relationship(s); and have executed this Agreement
and hereby acknowledge receipt of a copy thereof.
Brokers are not parties to the Agreement between Lessor and Lessee.
46. OFFER DEADLINE. This offer to lease expires on OCT. 15, 1996, at 6 p.m.
[SIG] 10/7/96
-------------------- ------------ ----------------------- ---------------
Lessee Date Lessor Date
[SIG] 10/15/96
-------------------- ------------ ----------------------- ---------------
Lessee Date Lessor Date
The Prudential Xxx Xxxxxxx Company 000 Xxxxxx Xxxx. XXX 00000
--------------------------------------
Address for all Notices and Rental
Payments
/s/ XXXXX XXXXXX 310 822-9848
---------------------------------- --------------------------------------
Sales Associate Lessor's Phone Number
MDR
----------------------------------
Sales Associate's Office
310-301-3500
----------------------------------
Sales Associate's Office Phone Number
Agency relationships are confirmed as above
THE PRUDENTIAL XXX XXXXXXX CO. 10/2/96
---------------------------------- --------------------------------------
Real Estate Broker (Listing) Date
/s/ XXXXX XXXXXX
----------------------------------
By: Xxxxx Xxxxxx
------------------- OFFICE USE ONLY -------------------
Reviewed by Broker or Designee __________ Date ___________
__________________________________________________________
