EXHIBIT 10.22
COMMERCIAL LEASE
This is a legally binding contract. If not understood, seek competent advice.
APPROVED BY BIRMINGHAM AREA BOARD OF REALTORS(R)
7/27/??
(Previous forms obsolete)
STATE OF ALABAMA Shelby County
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This lease made this 9th day of January 19 98 by and between
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DMB LLC
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hereinafter called "Lessor," by SBS Corporation as agent for the Lessor and by
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hereinafter called "Lessee":
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WITNESSETH: That the Lessor does hereby demise and let unto the Lessee the
following described premises in the City of Xxxxxx Alabama, to-wit:
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The property located on 0000 Xxxxxxxx Xxxxx, Xxxxxxxxxx, XX 00000
Subject to existing easements, if any, and the regulatory laws and ordinances of
the political subdivision in which the property is situated, for use and
occupation by the Lessee as
and for no other or different use or purpose, for and during the term of
five years beginning on 9th day of January 1998 and ending on the 13th day
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of January 2003 in consideration whereof, the Lessee agrees to pay the
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Lessor's agent at office of said agent,
on the first day of each month of said term, in advance, as rent for said
premises, the sum of
DOLLARS ( $20,000 ) per month,
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being at the rate of DOLLARS ( $240,000 ) per annum.
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Lessee agrees that a Service and Bookkeeping charge of 10% shall become
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due and payable each and every month that the rent has not been received in the
office of Xxxxxxx Skates by the 10th of the month, or if a check accepted as
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rent or other payment is returned unpaid to agent for any reason.
Should premises be completed and turned over to Lessee either prior to, or
after February 1, 1998 then in that event rent for such fractional month shall
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be pro-rated, and this lease term shall commence on the first day of the next
calendar month.
Lessor and Lessee agree that Lessee will deposit with Lessor's agent the
sum of $ on the date of execution of this lease, to be held,
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without interest payable to Lessee, as a security for the payment of rent and
any and all other sums of money for which Lessee shall or may become liable to
pay to Lessor under the lease, and for the faithful performance by Lessee of all
covenants and agreements under this lease, said deposit to be returned to Lessee
after the termination of this lease and any renewal hereof, provided Lessee
shall have made all such payments and performed all such covenants and
agreements. Nothing in this paragraph shall be deemed to limit the amount of any
claim, demand or cause of action of Lessor against Lessee under the provision of
this lease.
This lease is made upon the following terms, conditions and covenants: The
Lessor covenants to keep the Lessee in possession of said premises during said
term, but shall not be liable for the loss of use by eminent domain nor the
failure or inability of the Lessee to obtain possession thereof provided the
Lessor shall exercise due diligence and effort to place the Lessee in
possession. Nothing herein contained shall be construed as a warranty that said
premises are in good condition or are fit or suitable for the use or purpose for
which they are let. The Lessor or Lessor's agent have made no representations or
promises with respect to said building or the demised premises except as herein
expressly set forth. The Lessee has examined the leased premises and accepts the
same in the physical condition in which the same now exists (except as otherwise
expressly provided herein.)
Lessee and Lessor expressly acknowledge that the Broker(s) have not made an
independent investigation or determination with respect to the existence or
non-existence of asbestos, PCB transformers, or other toxic, hazardous or
contaminated substances or gases, in, on, or about the property, or for the
presence of underground storage tanks. Any such investigation or determination
shall be the responsibility of Lessor and/or Lessee, and Broker(s) shall not be
held responsible therefor.
Should the roof of the building leak at any time during said term, due to
no fault on the part of the Lessee, the Lessor will repair the same within a
reasonable time after being requested in writing by the Lessee so to do, but in
no event shall the Lessor be liable for damages or injuries arising from such
defect or the failure to make said repairs after being so notified, except to
the extent of the reasonable cost of repairing said roof; nor shall the Lessor
be liable for damages or injuries arising from defective workmanship or
materials, the Lessee hereby expressly waiving the same. Lessor and its agents,
shall not be liable for any deaths, injury, loss or damage resulting from any
repair or improvement and undertaken, voluntarily or involuntarily by or on
behalf of, the Lessor, other than willfully wrongful acts of Lessor.
In the event heating, ventilating and air conditioning equipment or a part
of any air conditioning equipment is installed by Lessee on the roof of any
building hereby leased, or in the event that the Lessee installs a sign on the
roof, then Lessee shall be responsible for repairing any roof leaks,
attributable to such installation, during the term of this lease at Lessee's
sole cost and expense, but no such air conditioning equipment or sign may be
installed until the consent in writing of the Lessor is first had and obtained
thereto.
The Lessee will keep the roof and the leased grounds free of all cans,
bottles, fragments, debris and trash, and the Lessee will keep the downspouts,
gutters and drains clean, open and free of obstruction, and in good working
order.
Lessor shall not be obligated or required to make any other repairs or do
any other work on or about said premises or any part thereof, or the elevators
therein, if any, or on or about any premises connected therewith, but not hereby
leased, unless and only to the extent herein agreed. All other portions of any
building hereby leased shall be kept in good repair by Lessee and at the end of
the term hereof, the Lessee shall deliver the demised premises to Lessor in good
repair and condition, reasonable wear and tear excepted.
However, Lessor reserves the right to enter upon said premises and to make
such repairs and to do, such work on or about said premises as Lessor may deem
necessary or proper, or that Lessor may be lawfully required to make. Lessor
reserves the right to visit and inspect said premises at all reasonable times
and the right to show said premises to prospective tenants and purchasers, and
the right to display "For Sale" and "For Rent" signs on said premises.
Should the Lessee fail to make repairs agreed to by him under this lease,
the Lessor may enter the premises and make such repairs and collect the cost
thereof from the Lessee as additional rent. Except as herein specifically
provided, the Lessee will not make or permit to be made any alterations,
additions, improvements or changes in the premises, nor will the Lessee paint
the outside of the building or permit the same to be painted without the
written consent of the Lessor before work is contracted or let. No signs of any
character shall be erected on the roof until the consent thereof in writing is
first had and obtained from the Lessor. The consent to a particular alteration,
addition, improvement or change shall not be deemed a consent to, nor a waiver
of, a restriction against alterations, additions, improvements or changes for
the future.
Lessee will replace all plate and other glass, if and when broken, and
failing so to do the Lessor may replace the same and the Lessee will pay the
Lessor the cost and expense thereof upon demand. Lessee will replace all keys
lost or broken, and will pay all bills for utilities and services used on said
premises. Lessee will keep all elevators, heating, ventilating and
air-conditioning (HVAC) equipment, electric wiring, water pipes, water closets,
drains sewer lines and other plumbing on said premises in such good order and
repair and will do all repairs, modifications and replacements which may be
required by the applicable laws or ordinances. Lessor shall not be liable for
any damages caused by, or growing out of, any breakage, leakage, getting out of
order or defective conditions of said elevators, heating, ventilating and
air-conditioning (HVAC) equipment, electric wiring, pipes, water closets,
drains, and sewer lines or plumbing, or any of them. Lessee will comply, at all
times and in all respects with all the applicable laws and ordinances relating
to nuisance, insofar as the building and premises hereby let, and the streets
and highways bounding the same, are concerned, and the Lessee will not by any
act, or omission render the Lessor liable for any violation thereof. Lessee will
not commit any waste of property, or permit the same to be done, and will take
good care of said building and said premises at all times.
The Lessee agrees to pay all sewer rentals or other charges becoming due,
levied under the authority of the Act No. 618 of the Alabama Legislature of
1949, approved September 19, 1949, or any other act, law or regulation. Failure
to pay said rental shall constitute a default under the terms of this lease.
Lessee shall during the entire term of this Lease, at Lessee's own expense
keep in force by advance payment of premiums, public liability insurance in an
amount of not less than $1,000,000.00 for injury to or death of one person or as
a result of one occurrence and not less than $300,000.00 for injury to or death
of more than one person as a result of one occurrence and for damage to property
in the amount of $100,000.00, or single limit of $ , insuring
Lessee, Lessor, and Lessor's Agents, Servants, and employees (as an additional
assured) against any liability that may accrue against them or either of them on
account of any occurrences in or about the demised premises during the term or
in consequence of Lessee's occupancy thereof and resulting in personal injury or
death or property damage. Lessee shall on request furnish to Lessor certificates
of all insurance required under this paragraph.
Lessor shall not be liable for any injury or damage caused by, or growing
out of, any defect in said building, or its equipment, drains, plumbing, wiring,
electric equipment or appurtenances, or in said premises, or caused by, or
growing out of fire, rain, wind, leaks, seepage or other cause.
If the leased premises, or any part thereof, consist of first floor space,
adjacent upon the street, or ground adjacent to the street, the Lessee will keep
the sidewalk, curb and gutter in front thereof or adjacent thereto clean and
free from snow, ice, debris and obstructions and will hold the Lessor harmless
from all damages or claims arising out of the Lessee's failure to so do.
Upon the happening of any one or more of the events as expressed in this
paragraph, the Lessor shall have the right, at the option of the Lessor, to
either annul and terminate this lease upon two days written notice to Lessee and
thereupon re-enter and take possession of the premises; or the right upon two
days written notice to the Lessee to re-enter and re-let said premises, from
time to time, as agents of the Lessee, and such re-entry or re-letting or both,
shall not discharge the Lessee from any liability or obligation hereunder,
except that rents (That is, gross rents less the expense of collecting and
handling, and less commission) collected as a result of such re-letting shall be
credited on the Lessee's liability up to the amount due under the terms of this
lease and the balance, if any, credited to the Lessor. Nothing herein, however,
shall be construed to require the Lessor to re-enter and re-let, nor shall
anything herein be construed to postpone the right of the Lessor to xxx for
rents, whether matured by acceleration or otherwise, but on the contrary, the
Lessor is hereby given the right to xxx therefor at any time after default. The
events of default referred to herein are: failure of the Lessee to pay any one
or more of the installments of rent, or any other sum, provided for in this
lease as and when the same become due, the removal, attempt to remove or
permitting to be removed from said premises, except in the usual course of
trade, the goods, furniture, effects or other property of the Lessee or any
assignee, or sub-tenant of the Lessee; the levy of an execution or other legal
process upon the goods, furniture, effects or other property of the Lessee
brought on the leased premises or upon the interest of the Lessee in this lease;
the filing of a Petition in Bankruptcy, a Petition for an Arraignment or
reorganization by or against the Lessee; the appointment of a receiver or
trustee, or other court officer, for the assets of the Lessee; the execution of
an assignment for the benefit of creditors of the Lessee; the vacation or
abandonment by the Lessee of the leased premises or the use thereof for any
purpose other than the purpose for which the same are hereby let or (if the
rental herein is based in whole or in part on the percentage of Lessee's sales)
failure of the Lessee to exercise diligent effort to produce the maximum volume
of sales; the assignment by Lessee of this lease or the re-letting or sub-
letting by the Lessee of the leased premises or any part thereof without the
written consent of the Lessor first had and obtained; the violation by the
Lessee of any other of the terms, conditions or covenants not set out in this
paragraph on the part of the Lessee herein contained and failure of the Lessee
to remedy such violation within ten (10) days after written notice thereof is
given by the Lessor to the Lessee.
The Lessee shall not remove any of the goods, wares or merchandise of the
Lessee from said premises other than in the regular course of Lessee's trade or
business without having first paid all rent due or to become due under the terms
of this lease.
Upon termination or breach of this lease or re-entry upon said premises for
any one or more of the causes set forth above, or upon termination of this lease
or re-entry of said premises, the rents provided for in this lease for the
balance of the original rental term, or any renewal term or other extended term,
and all other indebtedness to the Lessor owed by the Lessee, shall be and become
immediately due and payable at the option of the Lessor and without regard to
whether or not possession of the premises shall have been surrendered to or
taken by the Lessor. The Lessee agrees to pay Lessor, or on Lessor's behalf, a
reasonable attorney's fee in the event Lessor employs an attorney to collect any
rents due hereunder by Lessee, or to protect the interest of Lessor in the event
the Lessee is adjudged a bankrupt, or legal process is levied upon the goods,
furniture, effects or personal property of the Lessee upon the said premises, or
upon the interest of the Lessee in this lease or in said premises, or in the
event the Lessee violates any of the terms, conditions, or covenants on the part
of the Lessee herein contained. In order to further secure the prompt payments
of said rents, as and when the same mature, and the faithful performance by the
Lessee of all and singular the terms, conditions and covenants on the part of
the Lessee herein contained, and all damages, and costs that the Lessor may
sustain by reason of the violation of said terms, conditions and covenants, or
any of them, the Lessee hereby waives any and all rights to claim personal
property as exempt from levy and sale, under the laws of any State or the United
States.
In the event the Lessee abandons the leased premises before the expiration
of the term, whether voluntarily or involuntarily, or violates any of the terms,
conditions, or covenants hereof, the Lessor shall have the privilege at Lessor's
option of re-entering and taking possession of said premises and leasing all or
any portion of said premises for such term and for such use deemed as
satisfactory to the Lessor, applying each month the net proceeds obtained from
said leasing to the credit of the Lessee herein, up to the amount due under the
terms of this lease and the balance to the Lessor and, said leasing shall not
release the Lessee from liability hereunder for the rents reserved for the
residue of the term hereof, but Lessee shall be responsible each month for the
difference, if any, between the net rents obtained from such leasing and the
monthly rent reserved hereunder, and said difference shall be payable to the
Lessor on the first day of each month for the residue of the term hereof.
No re-entry hereunder shall bar the recovery of rent or damages for the
breach of any of the terms, conditions, or convenants on the part of the Lessee
as herein contained. The receipt of rent after breach of a condition broken, or
delay on the part of Lessor to enforce any right hereunder, shall not be deemed
a waiver of forfeiture, or a waiver of the right of the Lessor to annul the
lease or to re-enter said premises or to re-let the same, or to accelerate the
maturity of the rents hereunder.
If this lease is terminated by the Lessor for any reason, including
non-payment of rent, and the Lessee pays the rent, attorneys' fees and other
charges and thus makes himself current, and/or remains or continues to be in
possession of the leased premises or any part thereof, with the Lessor's
consent, this lease will be considered reinstated, and will continue in effect
as though it had not been terminated.
All improvements and additions to the leased premises shall adhere to the
leased premises, and become the property of the Lessor, with the exception of
such additions as are usually classed as furniture and trade fixtures; said
furniture and trade fixtures are to remain the property of the Lessee, and may
be removed by the Lessee two (2) weeks prior to the expiration of this lease,
provided all terms, conditions and covenants of within contract have been
complied with by Lessee and provided said Lessee restores the building and
premises to its original condition, normal wear and tear excepted.
In the event of the total destruction of, or partial damage to, the
buildings upon the demised premises by fire or other casualty, Lessor shall
proceed with due diligence and dispatch to repair and restore the buildings to
the conditions to which they existed immediately prior to the occurrence of such
casualty, at Lessor's cost and expense, provided such cost does not exceed the
proceeds of insurance collected on the buildings, by reason of such casualty,
the application of which insurance proceeds are not prohibited, by reason of any
mortgage provision, from being used toward the cost of restoration and repairing
the same; provided, further, that if the unexpired portion of the term or any
extension thereof shall be two (2) years or less on the date of such casualty
and the cost of such repair or restoration exceeds twenty percent (20%) of the
then replacement value of said damaged leased premises, as estimated by two or
more reputable contractors, Lessor may by written notice to the Lessee, within
thirty (30) days after the occurrence of such casualty, terminate this lease. If
Lessor exercises the above right to terminate this lease and Lessee elects to
exercise an option of renewal privilege which Lessee may have under this lease,
which if exercised, would extend the unexpired term beyond two (2) years. Lessee
may void such above notice of Lessor's right to terminate this lease by
exercising such option renewal privilege within such thirty (30) day period. If
the insurance proceeds are insufficient to affect such restoration or repairs,
Lessor at its option may cancel this lease by written notice to Lessee within
Thirty (30) days after the occurrance of such casualty.
In the event the repairing and restoring of the buildings can not be
completed within four (4) months after the date of occurrence of such casualty,
as estimated by two or more reputable contractors, the Lessee shall have the
right to terminate this lease upon giving written notice to Lessor within thirty
(30) days from the date of occurrance of said casualty. From the date of such
damage or destruction until said building has been substantially repaired or
restored, an equitable abatement of rent shall be allowed the Lessee.
Each and every transfer or assignment of this lease, or any interest
therein, and each and every sub-letting of said premises, or any part thereof,
or any interest therein, shall be null and void, unless the written consent
of the Lessor be first obtained thereto. As a condition precedent to the
obtaining of such consent, the assignee or sub-lessee must assume, in writing,
all the obligations of the Lessee hereunder, but such assumption shall not
operate to release the Lessee from any agreement or understanding on the part of
the Lessee expressed or implied in this Lease. If a lease assignment is
consumated for this Lessee or any one or more assigns before expiration term of
this lease, then the Lease or his subsequent assigns shall pay a $____________
assignment fee to agent for each and every lease assignment made.
All notices and demands authorized or required to be given to the Lessee
under any provision hereof must be in writing, and may be delivered to the
Lessee in person or left on or in the leased premises or shall be conclusively
deemed to have been delivered to the Lessee if the same be deposited in the
United States mail addressed to the Lessee at the leased premises, with the
proper postage affixed thereto. All notices herein authorized are required to be
given to the Lessor may be given by certified mail, addressed to the Lessor at
the address of the Lessor shown on page 1 of this lease, or in care of the
Lessor's rental agent at that time authorized by the Lessor to service this
lease, and said notices must be in writing.
THE COMMISSIONS PAYABLE FOR THE SALE, LEASE OR MANAGEMENT OF PROPERTY
ARE NOT SET BY THE BIRMINGHAM AREA BOARD OF REALTORS(R), INC., BUT IN ALL CASES
ARE NEGOTIABLE BETWEEN THE BROKER AND THE CLIENT.
Lessor in consideration of the services rendered by ___________________
as agent of Lessor in leasing said premises to Lessee, does hereby authorize
said _____________________________________ its successors or assigns, to collect
and receipt for the rents payable hereunder during the entire term hereof and
any renewals or extensions of the within lease, whether renewed or extended, or
the premises re-leased to the Lessee hereunder, or Lessee's successors or
assigns, and hereby agrees to pay to the said _______________________ its
successors or assigns, for the services rendered in effecting this lease or any
renewal, extension, or re-leasing as above provided, an amount equal to
___________ per cent of all rents paid by virtue thereof, whether or not
affected by ____________ or any other person, firm or corporation, or whether or
not said rent is paid direct to _________________ its successors or assigns,
payment of said commissions to be made as and when rents are received by the
Lessor, its successors or assigns, and the said _________________ its successors
or assigns shall be entitled to said commission from the present Lessor, the
Lessor's personal representative, heirs, successors, assigns or grantees in
title of the property herein described, and the same shall be charged upon the
land, tenements and hereditaments herein described.
As a further consideration for the services rendered by ________________ if
the term of this lease is for twelve (12) months or less the Lessor agrees to
pay the agent ______% of all rents paid as commission instead of the
aforementioned _____% provided for in the preceding paragraph; if the term of
this lease is in excess of one year and less than three years, Lessor agrees
that in addition to said commission provided in the preceding paragraph, said
agent shall be entitled to receive __________ rent payable hereunder, or, if
this lease term is for three years or more, to receive ____________ rent payable
hereunder, but percentage commission stated above shall not apply on said first
month's rent; and the additional __________________ rent commission shall not be
paid to the agent for any lease renewal or extension to the herein named Lessee.
In the event the within lease is cancelled or terminated by virtue of
any act or default by the Lessor, including the sale of the leased premises, the
Agent shall be entitled to be paid an amount equal to the full commission which
the Agent would have earned, provided the lease had not been cancelled or
terminated.
The undersigned Lessor agrees to pay to _________________________, as
agent, a commission of _______ as compensation for services rendered if: (1)
Lessor and Lessee enter into an agreement whereby Lessee agrees to purchase the
subject property from the Lessor during the term of this Lease or any extension
thereof: or (2) said property is sold or leased whether by ____________________
or by the undersigned Lessor or by or through anyone else during the term of the
lease; or (3) any contract for the sale or lease of said property is made
directly or indirectly by the undersigned Lessor prior to said expiration of
said Lease; or (4) within one year after the expiration of the Lease, said
property is sold or leased to the Lessee. If the subject property is owned by a
corporation and the Lessor elects to effect a sale to the Lessee by a sale of
stock rather than assets, the Lessor shall pay to ____________________________
the full agreed compensation for services rendered.
If the Lessor undertakes to make any improvements or repairs on the
leased premises during the term of this lease, the cost of which exceeds
$_________, and if the agent supervises the same, the Lessor agrees to pay the
said agent a reasonable fee for the additional services rendered.
Lessee will indemnify and hold Lessor and Lessor's agent free and harmless
from all demands, claims and suits or expenses caused by any default committed
hereunder on the part of the Lessee. Lessee will further indemnify and save
harmless Lessor and Lessor's agent from any loss, cost, damage and/or expenses
caused by injuries to persons or property while in, on or about the demised
premises, not attributable to the willful or wrongful act of the Lessor or
Lessor's agent. Any property stored in the demised premises shall be at the
sole risk of Lessee.
Neither Lessor nor Lessee shall be liable to the other for any loss or
damage from risks ordinarily insured against under fire insurance policies with
extended-coverage endorsements, irrespective of whether such loss or damage
results from their negligence or that of any of their agents, servants,
employees, licensees or contractors to the extent that such losses are covered
by valid and collectible insurance on the property at the time of the loss.
Should the Lessee continue to occupy the premises after the expiration of
the said term or after a forfeiture incurred, whether with or against the
consent of the Lessor, such tenancy shall be a tenancy at sufferance and in
event a tenancy from month to month, or from year to year.
The failure of the Lessor to insist, in any one or more instances, upon a
strict performance of any of the covenants of this lease, or to exercise any
option herein contained, shall not be construed as a waiver, or a relinquishment
for the future, of such covenant or option, but the same shall continue and
remain in full force and effect. The receipt by the Lessor of rent, with
knowledge of the breach of any covenant hereof, shall not be deemed a waiver of
such breach, and no waiver by the Lessor of any provision hereof shall be deemed
to have been made unless expressed in writing, and signed by the Lessor.
If all or any part of the demised premises is taken by eminent domain
("eminent domain" shall include the exercise of any similar power of taking, and
any purchase or acquisition in lieu of condemnation), or in the event the
improvements are condemned and ordered torn down or removed by lawful authority,
then the term of this lease shall cease as of the date possession shall be taken
by the condemning authority, or as of the date improvements are ordered torn
down or removed, whichever may be applicable, with the rent to be apportioned as
of the date of such taking or of such order, as the case may be; provided,
however, if as a result of a partial taking of the demised premises by eminent
domain, the ground floor area of the building forming a part of the demised
premises is reduced by not more than twenty-five percent (25%), the Lessor may
elect to continue the term of this lease and to restore, at Lessor's expense,
the remaining premises to a complete architectural unit with storefront, signs
and interior of equal appearance and utility as they had previous to the taking,
but there will be prorata reduction of the rent payable each month. The Lessor
shall be deemed to have exercised its said option to restore the premises
unless, within 30 days after the date of taking, the Lessor shall notify the
Lessee in writing of its election to terminate this lease. The Lessor shall be
entitled to receive all of the proceeds of any total or partial taking of the
demised premises by eminent domain, including any part of such award as may be
attributable to the unexpired leasehold interest or other rights of the Lessee
in the premises, and the Lessee hereby assigns, and transfers to the Lessor all
of the Lessee's right to receive any part of such proceeds.
At the option of Lessor this Lease may be subordinated to the lien of any
mortgage or mortgages, or the lien resulting from any other method of financing
or refinancing, now or hereafter in force against the land and/or Building of
which the Premises are a part and to all advances heretofore made or hereafter
to be made upon the security thereof. The Lessee agrees to execute and deliver
to the Lessor from time to time within ten (10) days after written request by
the Lessor all instruments which might be required by the Lessor to confirm such
subordination.
The Lessee hereby agrees that upon the expiration or prior termination of
this lease, the Lessee will promply remove from the leased premises all signs,
trash, debris and property of the Lessee, and the Lessee will leave the floors,
stairs, passageways, elevators and shafts as clean as it is possible to clean
them by means of the use of broom and shovel.
In the event that during the term of this Lease or any renewal period
thereof, the total real estate taxes, special assessments, or insurance cost
levied or assessed on the subject property owned by Lessor should be increased
over and above the Real Estate taxes (after a full assessment), special
assessments or insurance costs in effect at the commencement date of this Lease,
then Lessee shall pay to Lessor as additional rent a prorata share of such
increased taxes, special assessments, or insurance costs which shall be in the
proportion which the total area of the Leased premises bears to the total
building area owned by the Lessor of which these premises are a part.
This lease consists of __________ pages together with an Addendum of ______
pages which is attached hereto, initialed by the parties and incorporated in
this lease by reference. In case of conflict between the printed portion of this
lease and the Addendum, the terms of the Addendum shall prevail.
It is understood and agreed by the parties hereto that this lease shall be
binding upon the Lessee, its executor, administrator, heirs, assigns or
successor.
FURTHER TERMS AND CONDITIONS MADE A PART HEREOF
This lease will renew automatically at the end of the lease term unless
notification is received in writing 30 days prior to the expiration of this
lease.
IN WITNESS WHEREOF, the Lessor and the Lessee have respectively executed
these presents this ____ day of January, 1998.
Agent
Witness for Lessor: /s/ Xxxxx X. Xxxxxxxxx (Lessor)
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/s/ [illegible] /s/ Xxxxx X. Xxxxxxxxx (Lessor)
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Lessee
Witness for Lessee
[illegible] (L.S.)
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Lessee
