GENERAL LEASE
This agreement, made this 1st day of May 2002, between L&B Investments,
whose address is 0000 Xxxxxxxxxxx Xxxxx Xxxx, Xxxxxxxxxx, Xxxxxxxx 00000 (the
Lessor) and Midwest Cable Communications of Arkansas, Inc., whose address is
0000 XxXxxxx Xxxx, Xxxxxxxxxxxx, Xxxxxxxx 00000, (the Lessee) Withnesseth:
1. Leased Premises. For and in consideration of the rents, covenants and
agreements herein entered into and agreed upon by the Lessee as
obligations to the Lessor, the Lessor lets, leases and demises unto
Lessee, subject to the terms and conditions contained herein, the
following described property situation in Washington County, Arkansas.
SEE SCHEDULE A ATTACHED FOR LEGAL DESCRIPTION OF PROPERTY.
To have and to hold the premises unto the Lessee for and during the term
herein stated, subject to the covenants, terms, conditions and liens herein
contained.
2. Term. This lease shall commence on April 1, 2002, and shall extend for
a term of five years from the date hereof.
3. Rent. Lessee agrees to pay to Lessor as rental for the full term of
this lease the sum of $42,000 annually, payable in twelve equal monthly
installments of $3,500 each, to be paid in advance on the first day of
April 2002, and on the first day of each and every month thereafter
during the term of this lease.
4. Signs. Lessee shall not erect or install any exterior signs or
advertising of any kind without the written consent of Lessor having
first been obtained. Lessee agrees not to utilize any form of
advertising that may or shall be deemed objectionable to Lessor or to
the general public, including but not limited to loudspeakers,
phonograph or related electronic equipment, radios or similar devices
which will be operated in such a manner as to project sound outside of
the lease premises.
5. Lessor's Lien. A lien is hereby created and granted by Lessee in favor
of Lessor, as security for the payment of rental and other undertakings
provided for herein, upon all of the property of Lessee which may, at
any time during the term of this lease, be in, about or upon the
leased premises.
6. Exterior Repairs. Lessee shall maintain the exterior walls, doors and
roof of the structures upon the leased premises in a reasonable state
of repair and shall make such repairs to the surface of the parking
area as may be requited to keep and maintain the same in a good and
tenantable condition.
7. Interior Repairs. Lessee shall keep the interior of the building,
including interior walls and doors, wiring, plumbing and window and
door glass, in
good repair, and shall maintain the heating and air conditioning, all
at Lessee's expense. Lessee agrees to satisfy promptly any lien or
valid claim asserted against the leased premises for work done or
materials furnished. Lessee shall, at the termination, surrender or
forfeiture of this lease, return the premises with the interior,
including all of the above items, in as good and satisfactory condition
as the same was at the beginning of the lease, normal wear and
tear expected.
8. Taxes. Lessee shall pay any and all ad valorem taxes and special
improvement district taxes levied and assessed against the premises and
the improvements located thereon during the term of this lease. Such
taxes and assessments shall be pro-rated for any fractional calendar
year.
9. Use. Lessee agrees to use the leased premises for the purpose of
operating its business and for no other purpose or purposes without the
written consent of Lessor having beam obtained in advance.
10. Payment of Rent and Notices. The rent payable hereunder shall be paid
to Lessor at 0000 Xxxxxxxxxxx Xxxxx Xxxx, Xxxxxxxxxx, Xxxxxxxx 00000
Attn: Xx. Xxxxxx Xxxxxxx by certified mail or otherwise personally
delivered to such address. Any notice provided for herein shall be
given by certified mail with postage prepaid, addressed, if to Lessor,
at the address to which the rent is then paid, and if to Lessee, at
0000 XxXxxxx Xxxx, Xxxxxxxxxxxx, Xxxxxxxx 00000. Either party may
change the person and the place to which notices are to be mailed by
notice to the other party.
11. Assignment. Lessee shall not assign this lease or sublet the leased
premises without prior written consent of the Lessor. Any such
assignment or subletting shall in no way relieve Lessee from liability
for the obligation imposed by this lease. Lessee may only be releases
from liability by a specific written release executed by Lessor.
12. Lessee's default. If Lessee shall be in default as to the payment of
rent for a period of thirty (30) days, or as to any other covenant
herein provided for more than thirty (30) days after receipt of notice
from Lessor specifying such default, or if any petition be filed in
bankruptcy, including petitions for arrangements and reorganizations,
by or against Lessee and such petition be not dismissed within thirty
(30) days after its filing, or if a receiver or trustee be appointed
for Lessee by reason of Lessee's insolvency or inability to pay its
creditors, Lessor shall have the right, without limitation upon any
other rights which may be given Lessor by law or by any other provision
of this lease agreement, to re-enter the leased premises and relet the
same as agent for Lessee upon the best terms and conditions reasonably
obtainable, and Lessee shall be liable to the Lessor for the
difference, if any, between the rent obtained and the minimum rent
stipulated to be paid in this lease. Lessee agrees that in such event
it will vacate the leased premises without further
notice, and if it becomes necessary to bring any legal action to
recover possession, Lessee agrees to pay a reasonable fee for the
attorney of Lessor in such action.
13. Non-Waiver. It is agreed that the failure of Lessor to invoke any of
the available remedies under this lease or under law in the event of
one or more breaches or defaults by Lessee under the lease shall not be
construed as a waiver of such provisions and conditions and shall not
prevent Lessor from invoking such remedies in the event of any future
breach or default.
14. Holdover. Lessee hereby agrees that upon the termination of this lease
by expiration or by earlier termination for any reason whatsoever,
Lessee will peaceably deliver possession of the leased premises to
Lessor. In the event Lessee shall be permitted by Lessor to hold over
after the expiration of termination of this lease, or any extension
thereof, such holding over (in the absence of any written agreement to
the contrary) shall be construed as a tenancy from calendar month to
calendar month at a monthly rental equal to the rental for the last
month paid under this lease. A month-to-month tenancy arising by
Lessee's holding over under this paragraph may be terminated by written
notice from either party to the other party on or before the day on
which any monthly rent is due with termination not becoming effective
until the day on which the next following monthly rental would have
otherwise become due. In the event it should become necessary for
Lessor to institute any action at law to recover possession at the time
of termination, whenever and however termination may occur, Lessee
agrees that it will pay all costs and expenses of such action,
including reasonable attorneys' fees.
15. Casualty. If at any time the leased premises (or the building which
forms the principal component of the leased premises) should be damaged
by fire or any other major casualty, then Lessee shall as soon as
reasonably practicable repair the damage caused by fire or other
casualty.
16. Condemnation. In the event all of the leased premises, or such part
thereof as renders the leased premises unsuitable for use in the
activity or business of the Lessee, shall be acquired or taken by
eminent domain for any public or quasipublic purpose, then the term of
this lease shall cease and terminate as of the date of taking.
In the event that a partial taking does not render the leased premises
unsuitable for use in the activity or business of the Lessee, this
lease shall continue in full force and effect with a reduction in the
rent proportionate to the amount of usefulness or necessity of the
leased premises actually taken.
All damages awarded as a result of any taking, except such damages as
are herein defined as Lessee's damages, shall be awarded to Lessor.
Lessee shall be entitled to receive all damages, which are compensation
for damages to the compensation for damages to the
leasehold estate and for removal of Lessee's business, fixtures,
furniture and equipment. Lessee's right to damages shall be a right
against the taking authority alone, and Lessee shall not be entitled to
recover any damages from Lessor.
17. Insurance on Improvements. Lessee shall maintain, at Lessee's expense,
fire, hazard and extended coverage insurance, in the amount of the
replacement value of any improvements erected upon the leased premises.
A certificate of such insurance shall be delivered to Lessor prior to
the inception of this lease. Lessee shall reimburse Lessor for the
premiums paid for such insurance upon receipt of notice of the amount
due, if Lessor is required to pay such premiums.
18. Insurance on Lessee's Property. Lessee shall be solely responsible for
maintaining insurance on its property, including but not limited to
movables, trade fixtures installed by Lessee, furniture, furnishings
and inventory.
19. Liability Insurance. Lessee shall, during the term of this lease,
maintain public liability insurance on the leased premises and on the
business operated by the Lessee or any subtenant occupying the leased
premises. The limits of such public liability insurance shall not be
less than $1 million per person, $5 million per accident, and $1
million for property damage. The policy representing such insurance
shall name Lessor (its successor or his heirs and assigns), and Lessee
as insured. Such policy shall contained a clause that the insurer will
not cancel or change the insurance without giving Lessor, its
successor, heirs or assigns, ten (10) days' prior written notice, and a
certificate of such insurance shall be delivered to Lessor prior to the
inception of this lease.
20. Common areas. Any parking area or other common areas which Lessor may
provide shall be for the joint use of Lessor, Lessee, other tenants of
Lessor, and the customers, invitees and employees of Lessor, Lessee and
other tenants of Lessor; Lessor hereby grants Lessee the right, during
the term of this lease, to use any parking area and other common areas
which may be provided in common with others entitled to the use
thereof. The use thereof shall be subject to such reasonable
regulations or limitations as Lessor shall make or require from time to
time.
21. Compliance with Laws. Lessee agrees not to violate any law, ordinance,
rule or regulation of any governmental authority having jurisdiction of
the leased premises and, if required solely by reason of Lessee's type
of business, to make nonstructural repairs, improvements and
alterations to the interior of the building on the leased premises and
the common areas required by such authority.
22. Trash. All trash and refuse deposited outside the building must be
placed in sufficient receptacles furnished by Lessee [approved by the
Public Works Department].
23. Title and Quiet Enjoyment. Lessor covenants and warrants that it is the
owner in fee simple absolute of the leased premises and may lease the
premises as herein provided. Upon payment by Lessee of the rents herein
provided and upon the observance and performance of all the covenants,
terms and conditions upon Lessee's part to the observed and performed,
Lessee shall peaceably and quietly hold and enjoy the demised premises
for the term hereby demised without hindrance or interruption by Lessor
or any other person or persons lawfully or equitably claiming by,
through or under Lessor, subject to the terms and conditions of this
lease.
24. Succession. This lease agreement shall insure to the benefit of and be
binding upon the parties hereto and their respective heirs, successors
and assigns.
25. Waste. Lessee agrees not to commit waste, not permit waste to result or
to be done to or upon the property and premises; not to conduct any
business thereon or therein, nor store or permit to be stored thereon
or therein any explosives, combustible substances or materials of any
nature, which would increase the fire hazard or cause a premium to be
charged for insurance higher than that charged for the present use of
such property; and not to operate, nor permit to be operated, nor to
exist thereon or therein, any public or private nuisance.
26. Severability. Each paragraph of this lease agreement is severable from
all other paragraphs. In the event any court of competent jurisdiction
determines that any paragraph or subparagraph is invalid or
unenforceable for any reason, all remaining paragraphs and
subparagraphs will remain in full force and effect.
27. Interpretation. This lease agreement shall be interpreted according to
an enforced under the laws of the State of Arkansas.
28. Entire Agreement. This lease agreement contains the entire agreement of
both parties hereto, and no other oral or written agreement shall be
binding on the parties hereto. This lease agreement supersedes all
prior agreements, contracts and understandings of any kind between the
parties relating to the subject matter hereof. This agreement may be
executed in one or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same
instrument.
29. Notice. All notices, requests, demands and other communications
required by or permitted hereunder shall be in writing and shall be
deemed to have been duly given when received by the party to whom
directed; provided, however,
that notice shall be conclusively deemed given at the time of its
deposit in the United States Mail when sent by certified mail, postage
prepaid, to the other party at the following addresses (or at such
other addresses as shall be given in writing by either party to the
other):
If to Lessor: Xx. Xxxxxx Xxxxxxx, President
L&B Investments LLC
0000 Xxxxxxxxxxx Xxxxx Xx.
Xxxxxxxxxx, XX 00000
If to Lessee: Midwest Cable Communications of Arkansas Inc.
Attn: Office Manager
0000 XxXxxxx Xxxx
Xxxxxxxxxxxx XX 00000
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands
and seals on this 1st day of May, 2002
/s/ Xxxxxx Xxxxxxx
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Lessor: L&B Investments LLC
Xxxxxx Xxxxxxx, President
/s/ Xxxxx Xxxxxxxx
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Lessee: Midwest Cable
Communications of Arkansas, Inc.
Xxxxx Xxxxxxxx, President
