Exhibit 10.10
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Lease
1. BASIC LEASE PROVISIONS AND IDENTIFICATION OF EXHIBITS
1.01 BASIC LEASE PROVISIONS
A. BUILDING AND ADDRESS
000 Xxxx Xxxx Xxxxxx
Xxxxxxx, Xxxxxxxx 00000
B. LANDLORD AND ADDRESS:
Loft Development Corporation
Agent for 000 Xxxx Xxxx, X.X.X.
000 Xxxx Xxxx Xxxxxx
Xxxxx 000
Xxxxxxx, XX 00000
C. TENANT AND CURRENT ADDRESS:
The Children's Beverage Group
000 Xxxx Xxxx Xxxxxx
Xxxxx #000
Xxxxxxx, XX 00000
D. DATE OF LEASE: January 17,2001
E. LEASE TERM: Three (3) Years
F. COMMENCEMENT DATE OF TERM: February 1, 2001
G. EXPIRATION DATE OF TERM: January 31, 2004
G. MONTHLY BASE RENT: Year 1 - $2,222/month
Year 2 - $2,289/month
Year 3 - $2,358/month
1. INITIAL MONTHLY RENT ADJUSTMENT DEPOSIT: N/A
J. SECURITY DEPOSIT: $2,222
K. RENTABLE AREA OF THE PREMISES: 1,481 rentable square feet
L. FLOOR(S): 1 "Floor
M. TENANT'S PROPORTIONATE SHARE: 3.24 %
N. TENANT'S USE OF PREMISES- General office usage
0. REAL ESTATE BROKER(S): None
In consideration of the mutual covenants and agreements herein stated,
Lessor hereby leases to Lessee and Lessee hereby leases from Lessor solely for
the above purpose the premises designated above (the "Premises"), together with
the appurtenances thereto, for the above Term.
2. LEASE COVENANTS AND AGREEMENTS
2.01 RENT
Lessee shall pay Lessor or Xxxxxx's agent as rent for the Premises the
sum stated above, monthly in advance, until termination of this Lease, at
Lessor's address stated above or such other address as Lessor may designate in
writing.
2.02 CONDITION AND UPKEEP OF PREMISES
Lessee has examined and knows the condition of the Premises and has
received the same in good order and repair, and acknowledges that no
representations as to the condition and repair thereof have been made by Lessor,
or its agent, prior to or at the execution of this Lease that are not herein
expressed; Lessee will keep the Premises including all appurtenances, in good
repair, replacing all broken glass with glass of the same size and quality as
that broken, and will replace all damaged plumbing fixtures with others of equal
quality, and will keep the Premises, in a clean and healthful condition
according to the applicable municipal ordinances and the direction of the proper
public officers during the term of this Lease at Lessee's expense, and upon the
termination of this Lease, in any way, will yield up the Premises to Lessor, in
good condition and repair, loss by fire and ordinary wear excepted, and will
deliver the keys therefor at the place of payment of said rent.
2.03 LESSEE NOT TO MISUSE; SUBLET; ASSIGNMENT
Lessee will not allow Premises to be used for any purpose that will
increase the rate of insurance thereon, nor for any purpose other than that
hereinbefore specified, and will not load floors with machinery or goods beyond
the floor load rating prescribed by applicable municipal ordinances, and will
not allow the Premises to be occupied in whole, or in part, by any other person,
and will not sublet the same, or any part thereof, nor assign this Lease without
in each case the written consent of the Lessor first had, and Xxxxxx will not
permit any transfer by operation of law of the interest in Premises acquired
through this Lease, and will not permit Premises to be used for any unlawful
purpose, or for any purpose that will injure the reputation of the building or
increase the fire hazard of the building, or disturb the tenants or the
neighborhood, and will not permit the same to remain vacant or unoccupied for
more than ten (10) consecutive days; and will not allow any signs, cards or
placards to be posted, or placed thereon, nor permit any alteration of or
addition to any of the Premises, except by written consent of Lessor; all
alterations and additions to the Premises shall remain for the benefit of Lessor
unless otherwise provided in the consent aforesaid.
2.04 MECHANIC'S LIEN
Lessee will not permit any mechanic's lien or liens to be placed upon
the Premises or any building or improvement thereon during the term hereof, and
in case of the filing of such lien Lessee will promptly pay same. If default in
payment thereof shall continue for thirty (30) days after written notice thereof
from Lessor to the Lessee, the Lessor shall have the right and privilege at
Lessor's option of paying the same or any portion thereof without inquiry as to
the validity thereof, and any amounts so paid, including expenses and interest,
shall be so much additional indebtedness hereunder due from Lessee to Lessor and
shall be repaid to Lessor immediately on rendition of bill therefor.
2.05 INDEMNITY FOR ACCIDENTS
Lessee covenants and agrees that it will protect and save and keep the
Lessor forever harmless and indemnified against and from any penalty or damages
or charges imposed for any Violation of any laws or ordinances, whether
occasioned by the neglect of Lessee or those holding under Lessee, and that
Lessee will at all times protect, indemnify and save and keep harmless the
Lessor against and from any and all loss, cost, damage or expense, arising out
of or from any accident or other occurrence on or about the Premises, causing
injury to any person or property whomsoever or whatsoever and will protect,
indemnify and save and keep harmless the Lessor against and from any and all
claims and against and from any and all loss, cost, damage or expense arising
out of any failure of Lessee in any respect to comply with and perform all the
requirements and provisions hereof.
2.07 WATER, GAS AND ELECTRIC CHARGES
Lessee will pay in addition to the rent above specified, all water
rents, gas and electric light and power bills taxed, levied or charged on the
Premises, for and during the time for which this Lease is granted, and in case
said water rents and bills for gas, electric light and power shall not be paid
when due, Lessor shall have the right to pay the same, which amounts so paid,
together with any sums paid by Lessor to keep the Premises in a clean and
healthy condition, as above specified, are declared to be so much additional
rent and payable with the installment of rent next due thereafter.
2.08 KEEP PREMISES IN REPAIR
Lessor shall not be obliged to incur any expense for repairing any
improvements upon, said demised premises or connected therewith, and the Lessee
at its own expense will keep all improvements in good repair (injury by fire, or
other causes beyond Lessee's control excepted) as well as in a good tenantable
and wholesome condition, and will comply with all local or general regulations,
laws and ordinances applicable thereto, as well as lawful requirements of all
competent authorities in that behalf. Xxxxxx will, as far as possible, keep said
improvements from deterioration due to ordinary wear and from falling
temporarily out of repair. If Xxxxxx does not make repairs as required hereunder
promptly and adequately, Lessor may but need not make such repairs and pay the
costs thereof, and such costs shall be so much additional rent immediately due
from and payable by Lessee to Lessor.
2.09 ACCESS TO PREMISES
Lessee will allow Lessor free access to the Premises for the purpose of
examining or exhibiting the same, or to make any repairs,.or alterations thereof
which Lessor may see fit to make and will allow to have placed upon the Premises
at all times notice of "For Sale" and "To Rent", and will not interfere with the
same.
2.10 ABANDONMENT AND RELETTING
If Xxxxxx shall abandon or vacate the Premises, or if Xxxxxx's right to
occupy the Premises be terminated by Lessor by reason of Lessee's breach of any
of the covenants herein, the same may be relet by Lessor for such rent and upon
such terms as Lessor may deem fit, subject to Illinois statute; and if a
sufficient sum shall not thus be realized monthly, after paying the expenses of
such re-letting and collecting to satisfy the rent hereby reserved, Xxxxxx
agrees to satisfy and pay all deficiency monthly during the remaining period of
this Lease.
2.11 HOLDING OVER
Lessee will, at the termination of this Lease by lapse of time or
otherwise, yield up immediate possession to Lessor, and failing so to do, will
pay as liquidated damages, for the whole time such possession is withheld, the
sum of ( Two Hundred Twenty Two Dollars) ($220) per day; but the provisions of
this clause shall not be held as a waiver by Lessor of any right of re-entry as
hereinafter set forth; nor shall the receipt of said rent or any part thereof,
or any other act in apparent affirmance of tenancy, operate as a waiver of the
right to forfeit this Lease and the term hereby granted for the period still
unexpired, for a breach of any of the covenants herein.
2.12 EXTRA FIRE HAZARD
There shall not be allowed, kept, or used on the Premises any
inflammable or explosive liquids or materials save such as may be necessary for
use in the business of the Lessee, and in such case, any such substances shall
be delivered and stored in amount, and used, in accordance with the rules of the
applicable Board of Underwriters and statutes and ordinances now or hereafter in
force.
2.13 DEFAULT BY XXXXXX
If default be made in the payment of the above rent, or any part
thereof, or in any of the covenants herein contained to be kept by the Lessee,
Lessor may at any time thereafter at its election declare said term ended and
reenter the Premises or any part thereof, with or (to the extent permitted by
law) without notice or process of law, and remove Lessee or any persons
occupying the same, without prejudice to any remedies which might otherwise be
used for arrears of rent, and Lessor shall have at all times the right to I
2.14 NO RENT DEDUCTION OR SET OFF
Lessee's covenant to pay rent is and shall be independent of each and
every other covenant of this Lease. Xxxxxx agrees that any claim by Xxxxxx
against Xxxxxx shall not be deducted from rent nor set off against any claim for
rent in any action.
2.15 RENT AFTER NOTICE OR SUIT
It is further agreed, by the parties hereto, that after the service of.
notice or the commencement of a suit or after final judgment for possession of
the Premises, Lessor may receive and collect any rent due, and the payment of
said rent shall not waive or affect said notice, said suit, or said judgment.
2.16 PAYMENT OF COSTS
Lessee will pay and discharge all reasonable costs, attorney's fees and
expenses that shall be made and incurred by Lessor in enforcing the covenants
and agreements of this Lease.
2.17 RIGHTS CUMULATIVE
The rights and remedies of Lessor under this Lease are cumulative. The
exercise or use of any one or more thereof shall not bar Lessor from exercise or
use of any other right or remedy provided herein or otherwise provided by law,
nor shall exercise nor use of any right or remedy by Lessor waive any other
right or remedy.
2.18 FIRE AND CASUALTY
In case the Premises shall be rendered untenantable during the term of
this Lease by fire or other casualty, Lessor at its option may terminate the
Lease or repair the Premises within sixty (60) days thereafter. If Lessor elects
to repair, this Lease shall remain in effect provided such repairs are completed
within said time. If Lessor shall not have repaired the Premises within said
time, then at the end of such time the term hereby created shall terminate. If
this Lease is terminated by reason of fire or casualty as herein specified, rent
shall be apportioned and paid to the day of such fire or casualty.
12.19 SUBORDINATION
This Lease is subordinate to all mortgages which may now or hereafter
affect the Premises.
2.20 PLURALS; SUCCESSORS
The words "Lessor" and "Lessee" wherever herein occurring and used
shall be construed to mean "Lessors" and "Lessees" in case more than one person
constitutes either party to this Lease; and all the covenants and agreements
contained shall be binding upon, and inure to, their respective successors,
heirs, executors, administrators and assigns and may be exercised by their
attorney or agent.
2.21 SEVERABILITY
Wherever possible each provision of this Lease shall be interpreted in
such manner as to be effective and valid under applicable law, but if any
provision of this Lease shall be prohibited by or invalid under applicable law,
such provision shall be ineffective to the extent of such prohibition or
invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Lease.
IN WITNESS WHEREOF, this Lease has been executed as of the date set
forth in Section 1.01 D hereof.
LANDLORD: TENANT:
Loft Development Corporation The Children's Beverage Group
Agent for 000 Xxxx Xxxx, X.X.X.
By: /s/ Xxxxxx Xxxxxx By: /s/ Xxxx X. Xxxxxxxxxxx
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Xxxxxx Xxxxxx Xxx Xxxxxxxxxxx
