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Exhibit 10.14
Form 36 STORE LEASE Perfection Legal Forms & Printing Co., Rockford, Ill
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THIS INDENTURE, Made this 28th day of June A.D. 1993
By and between Lessor LaSALLE NATIONAL TRUST N.A. , SUCCESSOR TRUSTEE TO
LaSALLE National Bank as Trustee
as trustee and not personally under trust 7115 & 51414
and Lessee HANOVER CAPITAL PARTNERS, LTD.
WITNESSETH, that Lessor, does hereby demise and lease unto Lessee, who does
hereby rent and take the Store Room(s) 3,905 sq. ft., described throughout lease
known and designated as its address which is 0000-00 Xxxx Xxxxxxx Xxxxxx in the
City of Chicago in the State of Illinois, to be used as a Mortgage Finance Co.
and for no other purpose from July 1, 1993 to June 30, 1999 at and for the sum
of SEE RIDER PARAGRAPH # 33 Dollars, for the said term, payable as follows: BASE
RENT PLUS ADDITIONAL PARTICIPATION the FIRST day of each month, RENTAL
SECURITY DEPOSIT FROM LESSEE IN THE AMOUNT OF $7,500.00
($ XXXXXXXXXX) on the XXXXXXXXXXXXXXX day of each and every succeeding month in
the term, or of any renewal or extension thereof, at the office of Lessor.
AND ALSO RENT SHALL BE PAID TO:
Twin Oaks Realty
Xxxxx X. Xxxxxx, Agent
X.X. XXX 000
XXXXXX, XX 00000-0000
AND THE SAID LESSOR ALSO AGREES. That
AND THE SAID LESSEE. In consideration of said demise, does hereby covenant and
agree with The said Lessor, as follows:--
FIRST.-- That he will take, and hereby does take, the said premises above
described, for the said term, at and for the said price, and on the terms of
payment above stipulated and pay the same promptly at the time and place above
specified, and at the termination of this lease by limitation or otherwise, he
will deliver all the keys of the premises at the office of the lessor or agent
where the rent above stipulated is to be paid or to such other person and at
such other place as the Lessor may direct.
SECOND.-- That the Lessee has examined and knows the condition of said
premises and has received the same in good order and repair, except as herein
otherwise specified, and that no representations as to the condition or repair
thereof have been made by the Lessor, or the agent of said party prior to,
or at the execution of this lease that are not herein expressed or endorsed
hereon and upon the termination or this lease in any way, will yield up said
premises to the Lessor in as good condition as the reasonable use thereof will
permit with all the keys of the same, and shall not make any alterations in the
demised premises without the written consent of the Lessor; and all alterations
which may be made by either party hereto upon the demised premises except
movable furniture and fixtures, put in at the expense or the Lessee shall be the
property of the Lessor, and shall remain upon and be surrendered with the
demised premises as a part thereof at the termination of this lease.
THIRD.-- That the demised premises or any part thereof, shall not be
assigned, sub-let or permitted to be used for any purpose other than the above
mentioned without the written consent of the Lessor.
FOURTH.-- That the said Lessee will not allow said premises to be used for
any purpose that will increase the rate of insurance thereon, nor be occupied in
whole or in part by any other person, and will not assign this lease, without in
each case the written consent of the Lessor first had and will not permit any
transfer, by operation of law, or the interest in said premises acquired through
this lease; and will not permit said premises to be used for any unlawful or
immoral purpose or purpose that will injure the reputation or the same or or the
building of which they are a part, or disturb the tenants of such building or
the neighborhood.
FIFTH.-- That said Lessor shall not be liable for any damage occasioned by
failure to keep said premises in repair, and shall not be liable for any damage
done or occasioned by or from plumbing, gas, water, steam, or other pipes,
electric wires or sewage, or the bursting, leaking or running of any cistern,
tank, wash-stand, water-closet or wastepipe, in, above, upon or about said
building or premises, nor for damage occasioned by water, snow or ice being upon
or coming through the roof, sky-light, trap-door, entrance, yard, or otherwise;
nor for any damage arising from acts or neglect of co-tenants or other occupants
or the same building, or any owners or occupants or adjacent or contiguous
property.
SIXTH.-- To allow the Lessor free access to the premises hereby leased for
the purpose of examining or exhibiting the same, or to make any needful repairs
or alterations of said premises which said Lessor may see fit to make.
SEVENTH.-- That if the Lessee shall fail to pay the rent at the times,
place and in the manner above provided and same shall remain unpaid five days
after the day whereon the same should be paid as aforesaid, the Lessor or
agents, by reason thereof, are authorized to declare the term ended, and
re-enter, and re-possess the demised premises either with or without process of
Law, and expel the Lessee, and those claiming under the Lessee and remove his,
her or their effects, forcibly if necessary. Or in case the demised premises
shall be abandoned, deserted or vacated, and remain unoccupied five days
consecutively, the Lessee hereby authorizes and requests the Lessor as Lessees'
agent or attorney to re-enter the demised premises and remove all articles found
therein, place the same in a storage warehouse, or store the same in any other
suitable place at Lessees's risk and expense, proceed to re-rent the demised
premises at the Lessor's option and discretion, and apply all money so received
after paying the expenses of the aforesaid removal, toward the rent accruing
under this indenture. This request shall not in any way be construed as
requiring any compliance therewith on part of the Lessor.
EIGHTH.-- At the termination of this lease, by lapse of time or otherwise,
said Lessee agrees to yield up immediate possession to said Lessor, and failing
so to do, to pay as liquidated damages, for the whole time such possession is
withheld, the sum of 200 Dollars per day: but the provisions of this clause
shall not be held as a waiver by said 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 the tenancy, operate as a waiver of
the right to forfeit this lease and the term hereby granted for the period still
unexpired for any breach of any of the covenants herein.
NINTH.-- IT IS FURTHER. COVENANTED AND AGREED, by said Lessee, that there
shall not be kept or used on or near said premises any volatile, noxious, or
explosive matter, including but not limited to the following: naphtha, benzine,
benzols, gasoline, varnish, or any product in whole or in part of either or
gunpowder, fireworks, nitro-glycerine, phosphorus, nitrate of soda, camphene,
spirit-gas or any burning fluid or chemical without the written permission of
the Lessor.
TENTH.-- That Lessee will not permit anything to be thrown out of the
windows, or down the halls or passageways in said building; that no
objectionable or unsightly pictures, goods, wares, merchandise and advertising
matter, or signs shall be kept within, in front of or about said premises. That
no birds or animals shall be kept therein, and that the halls and stairways and
the porches shall not be used for the storage of furniture, merchandise or other
articles.
ELEVENTH.-- Said Lessee agrees to pay all of the water rents or bills
assessed against the said buildings and all gas and electric bills against the
premises hereby leased promptly as they shall become due and in case Lessee
shall fail to pay the same, Lessor may at his or her option pay the same, and
the amount of such bills together with seven per cent, interest thereon from
date of such payment add to the next payment of rent due under the terms hereof
without notice or demand.
TWELFTH.-- And for the consideration aforesaid, the said Lessee further
covenants and agrees with said Lessor, to take good care of the store room
demised and the fixtures, and commit and suffer no waste therein; that no
changes or alterations of the premises shall be made, or partitions erected,
without the consent in writing of said Lessor and that Lessee will make all
repairs required to the walls, ceilings, paint, plastering, plumbing, pipes and
fixtures belonging to said rooms and paint the front and wood work when needed,
also repair and decorate the walls and ceiling thereof. Said Lessee, and those
occupying under said Lessee, shall not interfere with the water pipes or meter,
heating apparatus, or the gas or electric service of said building which are not
within the premises hereby demised, nor with the control of any of the public
portions of said building; that the said Lessee and those occupying under said
Lessee will conform to all reasonable rules and regulations that the Lessor may
make for the protection of the building or the general welfare and comfort of
the occupants thereof.
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IT IS EXPRESSLY AGREED, Between the parties hereto, that if default be made
in the payment of the rent above reserved, or any part thereof, or in any of the
covenants and agreements herein contained, to be kept by the Lessee, it shall be
lawful for the Lessor or the legal representative of said Lessor, at any time
thereafter, at the election of Lessor or the legal representatives thereof,
without notice, or demand of rent, to declare the said term ended, and to
re-enter the demised premises, or any part thereof, either with or without
process of law, and to expel, remove and put out all the contents thereof as
well as the Lessee and any person(s) or firm(s) occupying the same, using such
force as may be necessary so to do, and to re-possess and enjoy the said
premises as before this demise, without prejudice to any remedies which might
otherwise be used for arrears of rent or preceding breach of covenants, and
Lessee further covenants and agrees that the Lessor or the representative or
assigns of said party, shall have at all times the right to distrain for rent
due, and shall have a valid and preferred first lien upon all property of Lessee
as security for the payment of rent herein reserved.
The Lessee hereby irrevocably constitutes any attorney of any Court of
Record of this State, attorney for him and in his name to enter his appearance
in any Court of Record, waive process and services thereof, and trial by
jury, and confess judgment against him in favor of said Lessor, or his assigns,
from time to time, for any rent which may be due to said Lessor, or his assigns,
by the terms of this lease, with costs and reasonable attorneys fees, and to
waive all errors and all right of appeal from said judgment and judgments, and
to file a consent in writing that writ of execution may be issued immediately;
said Lessee hereby expressly waiving all right to any notice or demand under any
statute in this State, relating to forcible entry and detainer or landlord and
tenant and agrees that the Lessor, his agents or assigns may begin suit for
possession or rent without notice or demand. Notice of election to terminate
this lease, or notice of any election hereunder, is hereby expressly waived by
Lessee.
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 the
possession of said premises, the Lessor may receive and collect rent due, and
the payment of rent shall not waive or affect said notice, said suit or said
judgment.
In case said premises shall be rendered untenantable by fire or other
casualty, the Lessor may at his option terminate this lease, or repair said
premises within 270 days, and failing so to do or upon the destruction of said
premises by fire, the term hereby created shall cease and determine.
IT IS FURTHER COVENANTED AND AGREED, By Lessee that he 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;
and such costs, fees and expenses may be taxed as costs in any suit or
proceedings that may be brought to enforce any of such covenants or agreements.
Miscellaneous:
(a) Provisions typed on this lease and all riders attached to this lease
and signed by Lessor and Lessee are hereby made a part of this lease.
(b) Lessee shall keep and observe such reasonable rules and regulations now
or hereafter required by Lessor, which may be necessary for the proper and
orderly care of the building of which the Premises are a part.
(c) All covenants, promises, representations and agreements herein
contained shall be binding upon, apply and inure to the benefit of Lessor and
Lessee and their respective heirs, legal representatives, successors and
assigns.
(d) The rights and remedies hereby created are cumulative and the use of
one remedy shall not be taken to exclude or waive the right to the use of
another.
(e) If any clause, phrase, provision or portion of this lease or the
application thereof to any person or circumstance shall be invalid, or
unenforceable under applicable law, such event shall not affect, impair or
render invalid or unenforceable the remainder of this lease nor any other
clause, phrase, provision or portion hereof, nor shall it affect the application
of any clause, phrase, provision or portion hereof to other persons or
circumstances.
SEE RIDER ATTACHED HERETO AND MADE A PART HEREOF.
IT IS HEREBY FURTHER EXPRESSLY STIPULATED AND AGREED, By and between the
parties hereto, that 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; that the pronouns "he", "him"
or "his" when referring to the "Lessor or Lessee" shall be construed in the
feminine, neuter or plural appropriately and that all the covenants and
agreements herein contained shall be binding upon, and inure to, their
respective successors, heirs, executors, administrators and assigns, and be
exercised by his or their agent or attorney.
IN WITNESS WHEREOF, The parties have hereunto set their hands and
seals, this day and year first above written.
HANOVER CAPITAL PARTNERS LTD /s/ (SEAL)
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HANOVER CAPITAL PARTNERS LTD By: /s/ (SEAL)
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Rent Record____________ Page_________ RECEIVED on the within the sums set
===================================== opposite the following months for the
years 19__ and 19__
LEASE
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FROM 19__ May ______________ $ ___________
________________________________
------------------------------------- June _____________ $ ___________
________________________________
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TO July _____________ $ ___________
________________________________
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August ___________ $ ___________
------------------------------------- ________________________________
September ________ $ ___________
No. ----------------------------- St.
===================================== ________________________________
October __________ $ ___________
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________________________________
Annual Rental $______________
December _________ $ ___________
Monthly in Advance $______________
________________________________
Expires____________________ A.D. 19__
19__ January __________ $ ___________
=====================================
________________________________
February _________ $ ___________
________________________________
March ____________ $ ___________
________________________________
April ____________ $ ___________
________________________________
GUARANTY
For value received _____ hereby guarantee the payment of the Rent and the
performance of the covenants by the lessee in the within Lease covenanted and
agreed, in manner and form as in said Lease provided.
WITNESS _____ hand and seal this _______ day of _________________, 19__.
____________________ (SEAL)
ASSIGNMENT AND ACCEPTANCE
For value received ______ hereby assign all ______ rights, title and interest
in and to the within Lease unto _____________________________________ heirs and
assigns, and in consideration of the consent to this assignment by the
lessor______________________ guarantee the performance by said _______________
of all the covenants on the part of the lessee in said Lease mentioned.
In consideration of the above assignment and the written consent of the party
of the first part hereto, ____________ hereby assume and agree to make all the
payments and perform all the covenants and conditions of the within Lease, by
said lessee to be made and performed.
WITNESS _____ hand and seal this _______ day of _________________, 19__.
____________________ (SEAL)
____________________ (SEAL)
CONSENT TO ASSIGNMENT
The undersigned lessor hereby consent to the assignment of the within Lease
to ________________________ on the express condition, however, that the assignor
shall remain liable for the prompt payment of the rent and performance of the
covenants on the part of the lessee as therein mentioned, and that no further
assignment of said Lease or subletting of the premises or any part thereof shall
be made without __________ written assent first had thereto.
WITNESS _____ hand and seal this _______ day of _________________, 19__.
____________________ (SEAL)
LESSOR'S ASSIGNMENT
In consideration of One Dollar, to __________ in hand paid, _______________
hereby transfer, assign and set over _________________________________ heirs and
assigns ______________ interest in the within Lease, and the rent thereby
secured _______________________________________________________________________
_______________________________________________________________________________
WITNESS _____ hand and seal this _______ day of _________________, 19__.
____________________ (SEAL)
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RIDER
18. Lessor will pay the real estate taxes or special assessments assessed
against the Building and adjacent land, and Lessee agrees to pay as additional
rent, a proportionate share of those taxes and assessments. Lessee's
proportionate share shall be computed on the basis that the total area of the
Premises bears to the rentable area of the Building which is 35.90%; which share
shall be prorated from the date of commencement of this lease to the date on
which the same shall terminate. Lessee's prorata share of such taxes shall be
based upon the real estate tax bills paid during a particular year even though
they relate to a prior year's tax assessment so that Lessee's payment of such
share shall commence with the 1992 real estate tax xxxx payable in 1993. This
covenant shall survive the expiration of the lease term. The entire amount of
any increase in the real estate taxes by reason of capital improvements,
non-standard or special assessments, alteration or fixtures made by or for the
benefit of Lessee shall be paid fully by the Lessee. Real estate taxes as herein
used shall include all taxes or assessments whether special or general, of any
nature whatsoever, which may be now or hereafter levied or assessed upon the
Premises or any part thereof, or upon the interest of Landlord under this Lease
or the rental therefrom. Lessor agrees to elect installment payment of all
special assessments to the extent available.
19. Lessor may obtain a policy or policies of fire and extended coverage
insurance with public liability coverage on the Building in amounts not less
than the full insurable or replacement value thereof. Lessee agrees to pay as
additional rent, his share of the cost of such insurance computed on the basis
that the total area of the Premises bears to the total rentable area of the
Building. Lessee also agrees to pay the entire amount of any increase in
insurance premiums occasioned by Lessee's particular use of the Premises or its
activities. This covenant shall survive the expiration of the lease term.
20. Lessee shall pay his share of the aforesaid taxes, assessments and
insurance premiums by depositing with the agent for the beneficiaries of the
Lessor on the first day of each month during the term hereof, a sum equal to
one-twelfth (1/12) of the estimated amount of such taxes, assessments and
insurance premiums. The amount of such deposits shall be determined from time to
time by Lessor on the basis of such information it deems appropriate, including,
but not limited to, insurance premiums and tax bills adjusted for anticipated
rate or assessment increases. Lessor's determination of the amount of such
deposits shall be conclusive for all purposes. Such deposits shall be used by
the agent for the beneficiaries of the Lessor to pay the taxes and costs of
insurance when due. Said agent shall be entitled to intermingle such deposits
with its own funds and to use them for such purposes as it may determine. Lessee
shall not be entitled to any interest on such deposits. If the total deposits by
Tenant shall be insufficient to pay Lessee's share of the taxes or insurance
premiums for any year, Lessee shall promptly pay such insufficiency to the agent
when billed. If Lessee's deposits are in excess of its share, such excess shall
be remitted after the payment of the applicable tax xxxx or insurance premium.
21. Lessee shall also pay his proportionate share, computed in accordance
with paragraph 18 hereof, of any and all fees or expenses which may be incurred
by the agent for the beneficiaries of Lessor for the protesting or settling of
any real estate tax assessment, rate or xxxx pertaining to the Building.
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22. Lessee agrees that all compensation awarded in any condemnation
proceedings shall be the Lessor's, and Lessee hereby assigns to Lessor all of
Lessee's right, title and interest to any such compensation, except any separate
award made to Lessee for cost and removal of his stock or fixtures.
23. The rights and interest of Lessee under this Lease shall be subject and
subordinate to any mortgage, deed of trust, ground or underlying lease, or any
method of financing or refinancing now or hereafter placed against the land
and/or the Premises, and to any and all advances to be made thereunder, and to
the interest to be paid thereon, and all extensions and modifications thereof.
24. Lessee agrees that at all times during the term hereof, he will
maintain at his sole cost and expense, comprehensive General Liability Insurance
with minimum limits in the amount of Five Hundred Thousand Dollars ($500,000.00)
for bodily injury, personal injury or death and property damage, which insurance
shall cover Lessee's contractual liability under the indemnity provisions of
this Lease. All such policies of insurance or certificates therefor shall be
delivered to Lessor or the agent for its beneficiaries, accompanied by evidence
that the premiums thereon have been paid not less than ten (10) days prior to
the expiration of any then current policy. All such policies shall contain a
provision that such insurance may not be cancelled or amended without ten (10)
days written notice to Lessor.
25. Lessee agrees to indemnify and save Lessor, its beneficiaries, their
agents, and the Premises, harmless against and from all liabilities, liens,
claims, suits, fines, damages, penalties, losses, fees, costs and expenses
(including reasonable attorney's fees) which may be imposed upon, incurred by or
asserted by reason of: (a) any work or thing to be done in, on or about the
Premises or any part thereof; (b) any use, occupation, condition, operation of
the Premises or any part thereof, or any occurrence on the same; (c) any action
or omission on the part of lessee or any sub-lessee or any of his or their
agents, contractors, servants, employees, licensees, or invitees, or (d) any
accident, injury (including death) or damage, regardless of the cause thereof,
to any person or property incurring in, on or about the Premises or any part
thereof. The provisions of this paragraph shall survive the expiration or
earlier termination of this Lease. The indemnity contained in this paragraph
shall not apply to any matter occasioned or resulting from the negligence of
Lessor, its beneficiaries, or their agents or employees.
26. Lessor shall be excused for the period of any delay in the performance
of any obligation hereunder including the delivery of possession as herein
provided, when prevented from so doing by cause or causes beyond Lessor's
control which shall include, without limitation, acts of other tenants, all
labor disputes, civil commotion, sabotage, governmental regulations or controls,
fire or other casualty, or inability to obtain any material, labor, services or
financing or through acts of God.
27. All of Lessee's improvements or alterations to the Premises shall be in
accordance with the requirements of applicable ordinances and must be approved
by lessor or the agent for its beneficiaries in writing prior to the
commencement of such work. All of such improvements and alterations shall remain
for the benefit of Lessor as part of the Premises and shall not be removed by
the Lessee at any time during the term of this Lease or thereafter. Any such
improvements shall at the sole election of Lessor be removed upon the expiration
of the Lease or shall remain as part of the Premises as herein provided. Lessee
shall repair, and restore and save the Lessor and the Premises harmless from all
damage to the Premises caused by such removal. Lessee, at this sole cost and
expense shall maintain and take good care of and make all necessary repairs or
replacements of any nature whatsoever to the interior and exterior of the
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Premises, the plumbing and sewage facilities, the roofing, and all lighting,
heating and air conditioning equipment. Lessee shall be required to furnish the
Lessor or the agent for its beneficiaries all warranties applicable to necessary
repairs or replacements completed on said Premises.
28. Lessee agrees to pay Lessor one-half (50%) of the annual premium on a
prorata basis for A/C-heating maintenance insurance coverage upon demand of
Lessor for the full term of the lease. Abrogation of this agreement may be made
only by mutual consent of Lessor.
29. Lessee is hereby given the privilege of the utilization of the existing
electric sign and awnings and if so desired installation at his own cost and
expense any other electric sign advertising his business on the exterior of the
Premises. Such sign shall comply in all respects with the requirements of city
ordinances and authorities, and shall be approved in writing by Lessor or the
agent for its beneficiaries, as to size, location and method and manner of
installation.
30. Lessor shall secure plate glass insurance for the Premises and Lessee
agrees to reimburse Lessor for the premium paid for said insurance on demand.
31. Lessee agrees to operate in the entire Premises during the entire term
of this Lease and to conduct his business at all times in good faith, in a high
grade and reputable manner during the regular and customary hour for such type
of business and on all business days.
32. This Lease may be changed, waived, discharged or terminated only by an
instrument in writing signed by the Lessor. No modification, termination or
surrender of the Lease or surrender of the Premises or any part thereof or any
interest therein by Lessee shall be valid or effective unless agreed to and
accepted in writing by Lessor, and no act by any representative or agent of
Lessor or its beneficiaries other than a written agreement shall constitute
acceptance thereof.
33. Base Rent payable under the lease shall be the sum of Thirty-Two
Thousand Five-Hundred and Twenty-Eight Dollars and Sixty-Five Cents ($32,528.65)
annually from July 1, 1993 through June 30, 1995; Thirty-Five Thousand
Eight-Hundred and Forty-Seven Dollars and Fifty Cents ($35,847.50) annually from
July 1, 1995 through June 30, 1997; Thirty-Nine Thousand Five-Hundred
Fifty-Seven Dollars and Sixty-Five Cents ($39,557.65) annually from July 1, 1997
through June 30, 1999 in equal monthly installments due on the first day of the
month during the lease term.
34. Provided all necessary licenses or permits are obtained, Lessee shall
have the right to conduct a mortgage related business from the premises.
35. Every installment of Basic Monthly Rent, Additional Rent or other sums
due under this Lease if not paid when due shall bear interest from the date the
same were due at the rate of twelve (12%) per annum, computed on a per diem
basis, until paid.
36. In the event of any sublease of the premises or assignment of this
Lease, Lessee shall pay Xxxxx X. Xxxxxx, agent of Twin Oaks Realty, a sum equal
to (a) any rent or other consideration paid to Lessee by any such sublessee or
assignee in excess of the rent for the premises then being paid by Lessee
pursuant to the terms of this Lease; and (b) any other profit or gain realized
by Lessee from such subletting or assignment. All such sums payable hereunder
shall be paid to Xxxxx X. Xxxxxx, agent of Twin Oaks Realty, as additional rent
immediately upon Lessee s receipt thereof. Lessee will pay and discharge all
reasonable costs, attorney's fees and expenses that shall be made and incurred
by Lessor in the event of any sublease of the Premises or assignment of this
Lease agreed upon by Lessor.
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37. Lessee will allow Lessor to have placed upon the Premises at all times
notices of "For Sale" and/or "For Rent," and Lessee will not interfere with the
same.
38. Obligations of Lessor under this Lease are contingent upon:
(a) Lessor promptly, if not precedent to the execution of this Lease,
installing:
(1) a new drop ceiling,
(2) adequate florescent lighting,
(3} two (2) five (5) ton HVAC units servicing the Premises,
(b) Lessor, within a reasonable period of time, promptly installing
in the 1350 sq. ft. back addition:
(1) a new drop ceiling,
(2) adequate florescent lighting,
(3) one (1) five (5) ton HVAC unit servicing the area,
(4} two (2) windows of reasonable size and location as specified
by lessee.
(5) dry wall and electrical outlets throughout perimeter of
exterior walls.
(c) Lessor providing thirty (30) days free rent commencing from date
of possession of Premises.
39. Obligations of Lessee under this Lease are contingent upon:
(a) Lessee obtaining any necessary licenses or permits for the
conduct of its business on the Premises.
(b) Lessee remodeling Premises which includes trim work, painting and
decorating walls, and flooring areas,
(c) Lessee providing proof of financial security and responsibility
including financial statements displaying sworn statements and/or
the Corporate Seal of the Company.
If after making every reasonable effort, Lessee is unable to satisfy
the foregoing contingency(ies) by August 1993 and so notifies Lessor thereof in
writing, this Lease shall become null and void. If Lessee fails to provide the
notice as aforesaid, the foregoing contingency(ies) shall be deemed satisfied
and this Lease shall remain in full force and effect. If the foregoing
contingency(ies) are not satisfied by August 1, 1993 the payment of Base Monthly
Rent, and additional rental payments as provided for under this Lease shall
xxxxx on a per diem basis until the earlier of the satisfaction of the foregoing
contingency(ies) or August 15, 1993. Once the foregoing licenses have been
procured, if such licenses or permits are lost, or if Lessee's use of the
Premises for the purposes herein authorized shall at any time during the term of
the Lease be otherwise prohibited by law, ordinance, governmental regulation, or
prevented by injunction or otherwise, this Lease shall notthereby be terminated
nor shall Lessee be entitled by reason thereof to surrender the Premises or to
any abatement or reduction of rent, nor shall the respective obligations of the
parties hereto be otherwise affected.
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This Rider, consisting of paragraphs 18 through 39, is hereby incorporated
by reference and made a part of a certain lease dated June 28, 1993 by and
between the undersigned.
SEE RIDER ATTACHED HERETO AND MADE A PART HEREOF.
LaSALLE NATIONAL TRUST NA Successor Trustee to
HANOVER CAPITAL PARTNERS, LTD., LASALLE NATIONAL BANK, LESSOR,
LESSEE not personally but solely as Trustee
/s/ ?????? By: /s/ ??????
------------------------------- -----------------------------------
MANAGING DIRECTOR
Its VICE PRESIDENT
-----------------------------------
Attest Xxxxx X Xxxxx
/s/ Xxxxxx X. XxXxxxxxxx --------------------------------
-------------------------------
Xxxxxx X. XxXxxxxxxx Its Assistant Secretary 7/22/93
Secretary -----------------------------------
RIDER ATTACHED TO AND MADE A PART OF LEASE DATED 6/28/93
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This LEASE is executed by LA SALLE NATIONAL TRUST, N.A., not personally but as
Trustee as aforesaid, in the exercise of the power and authority conferred upon
and vested in it as such TRUSTEE, and under the express direction of the
beneficiaries of a certain TRUST AGREEMENT date 9/21/48 & 10/1/76 and known as
TRUST NO. 7115 & 51414 at LA SALLE NATIONAL TRUST, N.A., to all provisions of
which TRUST AGREEMENT this LEASE is expressly made subject. It is expressly
understood and agreed that nothing herein or in said LEASE contained shall be
construed as creating any liability whatsoever against said TRUSTEE personally,
and in particular without limiting the generality of the foregoing, there shall
be no personal liability to pay any indebtedness accruing hereunder or to
perform any covenants, either express or implied, herein contained, or to keep,
preserve or sequester any property of said TRUST, and that all personal
liability of said TRUSTEE of very sort, if any, is hereby expressly waived by
said LESSEE, and that so far as said TRUSTEE is concerned the solely to the
premises hereby leased for the payment thereof. It is further understood and
agreed that said TRUSTEE has no agents or employees and merely holds naked
legal title to the property herein described; that said TRUSTEE has no control
over, and under this LEASE assumes no responsibility for (1) the management or
control of such property, (2) the upkeep, inspection, maintenance or repair of
such property (3) the collection of rents or rental of such property, or (4)
the conduct of any business which is carried on upon such premises. TRUSTEE
does not warrant, indemnify, defend title nor is it responsible for any
environmental damage.
9
LEASE AMENDMENT
PARTIES:
The parties to this agreement are LaSalle National Trust, N.A. as
Trustee, and not individually, under Trust No's. 7115 and 51414 (hereinafter the
"Lessor") and Hanover Capital Partners, Ltd., a New York Corporation
(hereinafter the "Lessee").
RECITALS:
1. Lessor and Lessee entered into a written lease agreement dated
June 28, 1993 (hereinafter the "Lease") for certain store rooms
in Lessor's building known as 0000-00 Xxxx Xxxxxxx Xxxxxx,
Xxxxxxx, Xxxxxxxx.
2. Lessor and Lessee desire by this agreement to amend the Lease
subject to the conditions and provisions hereinafter contained.
TERMS:
In consideration of the mutual agreement herein contained the parties
hereby agree as follows:
1. Lessee shall lease from Lessor a store front for an additional
One-Thousand Two-Hundred and Eighty-Five (1,285) square feet
known as 0000 Xxxx Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx for the
remaining term of the Lease expiring June 30, 1999.
2. Lessee shall have the option to terminate the amended portion of
the Lease to be exercised through written notification to Lessor
on or before March 30, 1996 and on or before each March 30th
thereafter through March 30, 1998 for the additional store front
at 0000 Xxxx Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx.
3. Additional Base Rent payable for the store front 0000 Xxxx
Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx shall be the sum of
Eleven-Thousand Seven-Hundred Ninety-Six Dollars and Thirty Cents
($11,796.30) annually from September 1, 1995 through June 30,
1997; Thirteen-Thousand Seventeen Dollars and Five Cents
($13,017.05) annually from July 1, 1997 through June 30, 1999 in
equal monthly installments due on the first day of each month
during the Lease term.
4. Lessee agrees to pay Lessor as additional rent the proportionate
share of the properties real estate taxes or special assessments
and insurance premium costs to be computed on the basis that the
total area of the premises at 0000 Xxxx Xxxxxxx Xxxxxx bears to
the rentable area of the Building which is presently 11.81%
(Lease--Rider 18 and 19)
5. Lessee's monthly rental payment for the store front 0000 Xxxx
Xxxxxxx Xxxxxx shall be paid concurrently with the monthly rental
payment for the store front 0000-00 Xxxx Xxxxxxx Xxxxxx.
Thereupon, Lessee's delinquent or deficient monthly rental
payments shall be considered by Lessor to be in default of rental
payments for the entire premises subjecting Lessee to immediate
eviction from the entire premises known as 0000-00 Xxxx Xxxxxxx
Xxxxxx, Xxxxxxx, Xxxxxxxx.
10
Page 2
6. Lessor shall provide Lessee, within a reasonable period of time,
110 volt (strip wiring) electric outlets every twelve (12) feet
along the perimeter of the east and west walls of the store
(approximately ten (10) outlets).
7. Lessee, in all other respects, shall accept the store front 0000
Xxxx Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx on an "as is" basis.
Thereupon, Lessee at his own cost and expense is hereby
authorized by Lessor to renovate an existing opening between the
adjacent store fronts 7138-40 and 0000 Xxxx Xxxxxxx Xxxxxx and to
provide any other reasonable lease hold improvements consistent
with his business operation.
8. Lessee shall be totally responsible for all other improvements to
the store front as well as renovating the same upon vacating the
premises at the termination of the amended portion of the Lease.
9. Except as otherwise expressly modified herein all of the terms
and provisions of the Lease not inconsistent with the foregoing
amendment shall remain in full force and effect for the entire
term of the Lease.
This Lease amendment has been entered into by the parties on this the
23rd day of August, 1995.
Hanover Capital Partners, Ltd. LaSalle National Trust, NA as
Trustee under Trust No's.
7115 and 51414 AND NOT PERSONALLY
By: /s/ ????? By: /s/ Xxxxx X. Xxxxx
----------------------------- -----------------------------
Title: VICE PRESIDENT Title: ASSISTANT SECRETARY
--------------------------- ---------------------------
Date: 11/13/95 Date: 12/22/95
---------------------------- ----------------------------
By: /s/ ?????
-----------------------------
Title: Secretary
---------------------------
Date: 11/13/95
----------------------------
This instrument is executed by LaSALLE NATIONAL TRUST, N.A., not personally but
solely as Trustee, as aforesaid, in the exercise of the power and authority
conferred upon and vested in it as such Trustee. All the terms, provisions,
stipulations, covenants and conditions to be performed by LaSALLE NATIONAL TRUST
N.A., are undertaken by it solely as Trustee, as......???...........[COPY
ILLEGIBLE]
CORPORATE SEAL
