RENEWAL OF
SHOPPING CENTER LEASE
WHEREAS Belt Line - Xxxxxx Road Associates Joint Venture, a Texas
joint venture ("Landlord") and Xxxxxxx X. and Xxxx Xxxxxxx ("Tenant") heretofore
entered into that certain lease dated May 27, 1992, (the lease covering
approximately square feet of space located at Belt Line Denton Shopping Center,
Carrollton, Texas and
WHEREAS the parties hereto are desirous of extending the lease term
for an additional period of sixty (60) months upon the terms and conditions set
forth here and below.
1. The Lease is hereby renewed for an additional period of sixty (60)
months beginning August 1, 1997, and ending July 31, 2002 (the
"Renewal Term").
2. The minimum guaranteed rental for the Renewal Term shall be as
follows, payable in advance in equal monthly installments as described
below on the first day of each month of the Renewal Term without
demand:
Months 01-12 $5.00 x 2,051 SF/12 = $854.58 per month
Months 13-24 $5.00 x 2,051 SF/12 = $940.04 per month
Months 25-36 $6.00 x 2.051 SF/12 = $1020.50 per month
Months 37-48 $6.50 x 2,051 SF/12 = $1110.96 per month
Months 49-60 $7.00 x 2,051 SF/12 = $1196.42 per month
3. In addition to the minimum guaranteed rental described above, Tenant
shall also pay during the Renewal Term all other charges described in
the Lease, including the cost of operation and maintenance of the
common area, taxes and other real estate charges and insurance
expenses.
4. Landlord and Tenant hereby acknowledge that Tenant has no further
option(s) to renew this Lease after the expiration of this Renewal
Term.
5. Landlord and Tenant hereby acknowledge that Tenant has previously
deposited with Landlord a sum in the amount of $571.53 to be held as a
Security Deposit under the terms and conditions described in the
Lease.
6. Except as herein modified all terms and provisions of the Lease shall
remain in full force and effect.
EXECUTED as of the latest date accompanying a signature by Landlord and Tenant
below
TENANT: Xxxxxxx X. and Xxxx Xxxxxxx
By: /s/ Xxxxxxx X. Xxxxxxx
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Tax ID#/SS#: omitted
Date of Signature:
TENANT'S NOTICE ADDRESS:
Xxx Xxxxxxx
Beltine Pawn Shop
0000 Xxxxxx Xxxxx
Xxxxxxxxxx, Xxxxx 00000
LANDLORD: Belt Line - Xxxxxx Road Associates, a Texas joint venture
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by its agent Cancor Realty Services, Inc.
By:
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Xxxx Xxxxx
Landlord Representative
Date of Signature:
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