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EXHIBIT 10.14
L E A S E
Date: October 31, 1997
PARTIES XXXX X. XXXXXXX (hereinafter referred to as Lessor) hereby leases to
LEISURE TIME CASINOS & RESORTS, INC. (hereinafter referred to as Lessee) the
following described property:
PREMISES 0000 Xxxxxxxxx Xxxxx, Xxx. # 00
xx Xxx Xxxxxxx, XX 00000, for use by Lessee as a private residence only
(City) (State) (Zip)
TERM This lease is for a term of sixty (60) months commencing on the First day
of November, 1997 and ending on the last calendar day of October, 2002.
MONTH TO MONTH RENEWAL If Lessee, or Lessor, desires that this lease terminate
at the expiration of its term he must give to the other party written notice at
least 45 days prior to that date. Failure of either party to give this required
notice automatically renews this lease and all of the terms thereof except that
the lease will then be on a month to month basis.
RENT This lease is made for and in consideration of a monthly rental of Two
Thousand Five Hundred dollars payable in advance on or before the 1st day of
each month at P. O. Xxx 000, Xxxx, XX 00000 Lessee agrees to pay lessor the sum
of N/A dollars which is prorated rental for the period N/A thru N/A 19 N/A . If
rent is paid by the _______ of the month, Lessee shall be entitled to a
deduction of _______ dollars per month, or a net rental of _______ dollars per
month provided, however, that if the rent due is not received by the ________ of
the month Lessee shall be considered delinquent. If Lessee pays by check and
said check is not honored on presentation for any reason whatsoever, Lessee
agrees to pay an additional sum of __________ as a penalty. This penalty
provision is not to be considered a waiver or relinquishment of any of the other
rights or remedies of Lessor. At Lessor's discretion after receipt of NSF check;
Lessor may require all future payments in the form of money orders or certified
funds. Lessor shall give written notice to Lessee of this requirement.
SECURITY DEPOSIT Upon execution of this lease, Lessee agrees to deposit with
Lessor, the sum of $ N/A __________________. This deposit shall be non-interest
bearing and is to be held by Lessor as security for thc full and faithful
performance of the terms and conditions of this lease. This security deposit is
not an advance rental and Lessee may not deduct portion of the deposit from rent
due to Lessor. This security deposit is not to be considered liquidated damages.
In the event of forfeiture of the security deposit due to Lessee's failure to
fully and faithfully perform all of the terms and conditions of this lease,
Lessor retains all of his other rights and remedies. Lessee does not have the
right to to cancel this lease and avoid his obligations hereunder by forfeiting
said security deposit.
Deductions will be made from the security deposit to reimburse Lessor for the
cost of repairing any damage to the premises or equipment or the cost of
replacing any of the articles or equipment that may be damaged beyond repair,
lost or missing at the termination of this lease. Deductions will also be made
to cover any damage, loss, or charges occurring prior to termination of this
lease and for which Lessee is responsible. In the event that damages or other
charges exceed the amount of the security deposit, Lessee agrees to pay all
expenses and cost to Lessor. In the event there has been a forfeiture of the
security deposit, excess charges shall be paid in addition to the amount of the
said security deposit.
Should there be any damage to the leased premises or equipment therein,
reasonable wear and tear excepted, cause by Lessee, his family, guests or
Agents, Lessee agrees to pay Lessor when billed the full amount necessary to
repair or replace the damaged premises or equipment. This includes but is not
limited to garbage disposal, plumbing problems due to improper usage, also water
problems due to improper bath/shower usage.
Not withstanding any other provisions expressed or implied herein, it is
specifically understood and agreed that the entire security deposit aforesaid
shall be automatically forfeited should Lessee vacate or abandon premises before
the expiration of this lease, except where such abandonment occurs during the
last month of the term of this lease, and Lessee has paid all rent covering the
entire term and either party has given the other timely written notice that his
lease will not be renewed under its automatic provisions. Forfeiture of the
security deposit shall not limit Lessor's rights nor Lessee's obligations.
The leased premises must be returned to the Lessor in as good condition as they
were at the time the Lessee first occupied same, subject only to normal wear and
tear. Lessor agrees to deliver the premises clean and free of trash at the
beginning of this lease and Lessee agrees to return the same in like condition
as the termination of this lease. At the termination of this lease, the Lessee
shall be entitled to an accounting, and a return of the security deposit within
30 days thereafter, providing all of the obligations of the lessee have been
fulfilled, including return of the keys to the Lessor. Lessee shall provide
Lessor with a forwarding address, in writing.
OCCUPANTS The leased premises shall be occupied by the persons listed below.
Other occupants, including temporary visitors, are not allowed to remain at the
premises for a period in excess of 10 days. Employees and/or guests of any
Leisure Time company.
A temporary visitor is one who inhabits the premises for no more than ten (10)
days.
INITIALS Lessee________ Lessee________ Lessor________ Lessor________
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SUB LEASE Lessee is not permitted to sublet or grant use or possession of the
leased premises without the written consent of Lessor and then only in
accordance with the terms of this lease. Any expense associated with sub-leasing
the premises shall be paid by Lessee.
DEFAULT, ABANDONMENT OR EVICTION Should the Lessee fail to pay the rent or any
other charges arising under this lease promptly as stipulated or should premises
be abandoned by Lessee (it being agreed that an absence of Lessee from the
leased premises for five consecutive days after rentals have become delinquent
shall create a conclusive presumption of abandonment) or should Lessee begin to
remove furniture or any substantial portion of Lessee's personal property to the
detriment of Lessors lien, or should voluntary or involuntary bankruptcy
proceedings be commenced by or against Lessee, or should Lessee make an
assignment for the benefit of creditors, then in any of said events, Lessee
shall be in default and the rental of the whole of the unexpired term of this
lease, together with any attorney's fees, and all other expenses shall
immediately become due. Lessor may proceed one or more times for past due
installments without prejudging his rights to proceed later for the rent for the
remaining term of this lease. Similarly, in the event of any such default,
Lessor retains the option to cancel this lease and obtain possession of the
premises in accordance with the provisions of Article 4701, et seq. of the
Louisiana Code of Civil Procedure. In the event of such cancellation and
eviction, Lessee is obligated to pay any and all rent and expenses due and owing
through the day said premises are re-rented or this lease expires, whichever is
sooner. Lessee is obligated to pay any collection and eviction costs and
attorney's fees. In the event the premises are abandoned as defined above,
Lessee grants to Lessor the right to dispose of belongings remaining in the
premises in any manner Lessor chooses without any responsibility or liability to
Lessee for any loss which Lessee may sustain from said disposition. Lessee shall
be responsible for any cost incurred by removal of these belongings.
OTHER VIOLATIONS, NUISANCE Should the Lessee at any time violate any of the
conditions of this lease, other than the conditions provided in the immediately
preceding paragraphs under the heading "Default, Abandonment, or Eviction" or
should the Lessee discontinue the use of the premises for the purposes for which
they are rented or fail to maintain a standard behavior consistent with the
consideration necessary to provide reasonable safety, peace and quiet to others,
such as but not limited to, being boisterous or disorderly, creating undue
noise, disturbance or nuisance of any nature or knowingly engaging in any
unlawful or immoral activities, or failure to abide by any Rules and
Regulations, and should such violation continue for a period of five days after
written notice has been given Lessee (such notice may be posted on Lessee's
door) or should such violation again occur after written notice to cease and
desist from such activity or disturbance, then, Lessee shall be in default and
Lessor shall have the right to demand the rent for the whole unexpired term of
this lease which at once becomes due and payable or to immediately cancel this
lease and obtain possession of the premises in accordance with the provisions of
Article 4701, et seq. of Louisiana Code of Civil Procedure, or to exercise any
further rights granted by this lease or available by law.
RULES & REGULATIONS Lessee acknowledges receipt of a copy of and agrees to
comply with the Rules and Regulations. Lessee agrees to comply with any
additions and/or modifications to these Rules & Regulations or with other Rules
& Regulations which may be established, adopted by the Lessor and which may be
posted on the leased premises, and/or mailed, and/or delivered to Lessee.
CONDITION, REPAIRS, ADDITIONS AND ALTERATIONS OF PREMISES Lessor warrants that
the leased premises are in good condition. Lessor shall be responsible for the
repair of electrical, plumbing, air conditioning and heating system provided the
repair is not caused by misuse or neglect by the Lessee. Lessee agrees to use
the same with care, and to perform the usual cleaning and household maintenance
customarily required. Air conditioning and heating filters are the
responsibility of Lessee. The running of the unit with dirty filters is not
permitted. Lessee acknowledges that he has been provided the opportunity to
inspect the premises and accepts it in its current condition and agrees to keep
it in same condition during the term of this lease at his expense and to return
it to Lessor in the same or better condition at termination of this lease,
normal decay, wear and tear excepted. The only exceptions to this area are
repairs/improvements that Lessor specifically agrees to perform on the premises
as may be outlined in the "SPECIAL CONDITION" section of this lease.
Lessee shall not make any additions or alterations to the premises without
written permission of the Lessor. Lessor or his employees shall have the right
to enter the premises for the purpose of inspection or making repairs necessary
for preservation of the property. Any additions or alterations made to the
property by the Lessee shall become the property of the Lessor at the
termination of this lease unless otherwise stipulated herein. Lessee expressly
waives all right to compensation for any additions or alterations made to the
premises. The Lessor, at his option, may require the premises to be returned to
its original condition at Lessee's expense.
OCCUPANCY Should Lessor be unable to provide occupancy on the date of the
beginning of this lease due to causes beyond control of Lessor, this lease shall
not be affected thereby, but Lessee shall owe rent beginning only with the day
on which he can obtain possession. Lessee shall not be entitled to any damages
beyond the remission of rent for such term during which he is deprived of
possession. Should Lessor be unable to provide occupancy within 10 calendar days
from the commencement of this lease as stipulated herein, the Lessee shall have
the option of terminating this lease by giving written notice to Lessor.
Should the property be destroyed or materially damaged so as to render it wholly
unfit for occupancy by fire or other unforeseen event not due to any fault or
neglect of Lessee, then Lessee shall be entitled to a refund of any prepaid
rents for the unexpired term of the lease. However, Lessee shall not be entitled
to a reduction of the monthly rent or cancellation of this lease because of a
temporary failure of utilities, heat, air conditioning or temporary closing of
swimming pool and/or a reasonable delay in completing agreed to improvements to
the premises as specified in the "SPECIAL CONDITIONS" section of this lease.
SURRENDER OF PREMISES At the expiration of this lease, or its termination for
other causes, Lessee is obligated to immediately surrender possession, and
should Lessee fail to do so, he consents to pay any and all damages, but in no
case less than five times the rent per day, plus attorney's fees, and other
related costs.
INITIALS Lessee________ Lessee_________ Lessor________ Lessor_________
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LIABILITY If any employee or representative of Lessor renders any services (such
as parking, washing or delivering automobiles, handling of furniture or other
articles, cleaning the rented premises, package delivery, or any other service)
for or at the request of Lessee, his family, employees or guests, then, for the
purpose of such service, such employees shall be deemed the servant of Lessee,
regardless of whether or not payment is arranged for such service, and Lessee
agrees to release Lessor and his agents and/or representatives and to hold them
harmless of any and all liability arising therefrom.
Neither Lessor nor his agents and/or representatives shall be liable to Lessee,
or to Lessee's employees, patrons and visitors, or to any other person for any
damage to person or property caused by any act, omission or neglect of Lessee or
any other tenant of said leased premises and Lessee agrees to defend, indemnify
and hold Lessor, his agents and/or representatives harmless from all claims for
any such damage, whether the injury occurs on or off leased premises.
Lessee hereby releases and holds Lessor, his agents and/or representatives
harmless and agrees to defend and indemnify Lessor from any damage or injury to
persons or property caused as a result of the use of the swimming pool by Lessee
or any persons making use of said through the use, permission or consent of
Lessee.
Lessee assumes responsibility for the condition of the premises. Lessor is not
responsible for damage caused by leaks in thc roof, by bursting of pipes by
freezing or otherwise, or any vices or defects of the leased property, or thc
consequences thereof, except in case of positive neglect or failure to take
action toward the remedying of such defects within reasonable amount of time
after receiving written notice of such defects. Should lessee fail to promptly
so notify Lessor in writing, of any such defects, Lessee will become responsible
for any damage or claims resulting to Lessor or other parties.
Lessee understands that neither Lessor, his agents and/or representatives
carries Hazard or Flood insurance on Lessee's contents in leased premises.
Lessor is not responsible for damage or loss of Lessee's personal property.
Lessor encourages lessee to acquire adequate insurance to protect themselves and
their personal property.
Lessor and Lessee acknowledge that the return or disposition of Lessee's deposit
is a decision made exclusively by the Lessor in accordance with the applicable
rules of the Louisiana Real Estate Commission, the terms and conditions of this
lease, and the requirements of law. Said parties acknowledge that the Lessor's
agent is likewise bound to the applicable rules of the Louisiana Real Estate
Commission and cannot return the deposit, if held by agent, in the absence of
mutual written agreement except in accordance with the rules and regulations of
the Louisiana Real Estate Commission. Accordingly, both Lessor and Lessee
release and discharge said agent from any and all liability or responsibility of
agent relating to the return of such deposit, except in the event agent breaches
the rules and regulations of the Louisiana Real Estate Commission. Lessee
acknowledges that the actions of the agent regarding this entire lease is made
solely and at the direction of the Lessor.
SIGNS & ACCESS Lessor reserves the right to post on the premises "For Sale"
signes at any time and "For Rent" signs can be placed on property 45 days prior
to expiration of lease. Lessee will also permit Lessor, his agents and/or
representatives to have access to the premises for the purpose of inspection,
sale or leasing at reasonable intervals between the hours of 8:00 am to 8:00 pm.
If Lessee refuses request for access, this shall constitute a violation of the
lease.
ATTORNEYS FEES Lessee further agrees that if an Attorney is employed to protect
the rights of the Lessor hereunder, Lessee will pay the fee of such attorney.
Such fee is hereby fixed at twenty-five (25%) percent of the amount claimed or a
minimum of $300.00 whichever is greater. Lessee further agrees to pay all court
costs and sheriff's charges and all other expenses involved.
NOTICES All notices required to be given under the terms of this lease shall be
in writing, and if mailed, by certified mail addressed to Lessee at the herein
leased premises or to Lessor at the address appearing in this lease, and such
mailing constitutes full proof of and compliance with the requirement of notice,
regardless of whether addressee received such notice or not. Notices may also be
given in writing by hand delivery, or by attaching to door of premises.
MEDIATION CLAUSE The parties agree that any controversy, claim for personal
injuries or loss, or dispute of any kind arising out of, or relating to these
premises or this lease, shall be submitted to mediation in accordance with the
rules and procedures of the Home Buyer's/Home Seller's Dispute Resolution System
of the New Orleans Metropolitan Association of REALTORS(C), Inc., or such other
mediator as mutually agreed to by the parties. All disputes arising out of or
relating to this agreement shall be submitted for mediation except matters
affecting a foreclosure, or proceedings relating to title, mortgage, liens,
probate issues, or other issues excluded by law as a subject matter for
mediation.
OTHER CONDITIONS The failure of Lessor to insist upon the strict performance of
the terms, covenants, agreements and conditions hereby contained, or any of
them, shall not constitute or be construed as a waiver or relinquishment of the
Lessor's right thereafter to enforce any such terms, covenant, agreement and
condition, but the same shall continue in full force and effect.
It is understood that the terms "Lessor" and "Lessee" are used in this lease,
and they shall include the plural and shall apply to all persons, both male and
female. All obligations of Lessee are joint, several and in solido.
This lease, whether or not recorded, shall be junior and subordinate to any
mortgage hereafter placed by Lessor on the entire property of which the leased
premises forms a part.
INITIALS Lessee_________ Lessee__________ Lessor_________ Lessor_________
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LEAD-BASED PAINT, ASBESTOS, RADON Lessee is aware that the premises may contain
led based paint, asbestos, or other toxins which may cause serious injury or
death if consumed or ingested into the human body, and lessee acknowledges that
the United States Department of Housing and Urban Development notice (M.L.
92-24) has been called to their attention with respect to notice and information
of lead based paint. Having knowledge of these facts, Lessee agrees to maintain
the premises in a reasonably safe condition, to report to Lessor any conditions
which may lead to damage or injury because of lead, asbestos or other toxins,
and Lessee further agrees to assume the use and occupancy of the herein leased
premises at his own risk and hereby releases Lessor, his agents and/or
representatives from any claims relating to or sustained as a consequence
thereof, and further agrees to hold harmless, defend and indemnify Lessor, his
agents and/or representatives from any claim made by Lessee, residents of his
household or others using the premises with the consent and permission of
Lessee.
UTILITIES Lessee shall maintain all utility services, including water, gas,
electricity, phone, garbage collection, and lawn and garden care, in Lessee's
name and shall promptly pay all charges due thereon, during the term of this
lease unless otherwise noted.
WAIVER OF NOTICE Upon termination of the right of occupancy for any reason,
Lessee hereby expressly waives notice to vacate premises prior to institution of
eviction proceedings in accordance with La. CCP Article 4701 and La. CC Article
2713.
MISCELLANEOUS PROVISIONS No cars to be parked on lawn or walkways. Cars to be
parked only in designated areas. No holes shall be drilled in the walls,
woodwork or floors and no antenna installations are permitted. No painting or
papering of walls is permitted without written consent of Lessor. Lessee shall
not allow the cable/phone company to wire the premises for cable without
Lessor's written permission. No waterbeds are allowed. No foil in windows is
allowed. Garbage to be placed in designated receptacle. If no receptacle is
provided, garbage is to be placed on curb as prescribed by law in a proper
receptacle provided by Lessee.
Lessee is to furnish Lessor with a list of deficiencies noted by Lessee at the
time of occupancy. This is to be held by Lessor in case of dispute as to move-in
condition of property.
SPECIAL CONDITIONS Lessor to provide washer/dryer/refrigerator. Lessee to pay
for electricity, cable, telephone, etc., plus monthly condominium maintenance
fee and any and all assessments made by the condominium association.
Time is of the essence. This document and any indicated addendum contain this
entire lease. If any part of this lease is or becomes contrary to law, the
remainder of this lease shall be unaffected. Any changes must be agreed upon in
writing, and signed by Lessor and Lessee.
FOR REPAIRS/MAINTENANCE CALL: Xxxx X. Xxxxxxx 000-000-0000
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Name Phone
WE DO BUSINESS IN ACCORDANCE WITH FEDERAL FAIR HOUSING LAWS.
THIS IS A BINDING LEGAL DOCUMENT. READ CAREFULLY BEFORE SIGNING.
LEISURE TIME
CASINOS & RESORTS, INC. 11/1/97 XXXX X. XXXXXXX 11/1/97
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Lessee Date Lessor or Lessor's Agent Date
9/30/98 11/1/97
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Lessee Signature Date Lessor Signature Date
