STANDARD MULTI-TENANT FORM LEASE The Gardens Center, Hawaiian Gardens, CA
STANDARD
MULTI-TENANT FORM LEASE
The
Gardens Center, Hawaiian Gardens, CA
THIS
LEASE (this "Lease") is made and executed this 8th day of February, 1995 by
and
between
Hawaiian Gardens Redevelopment Agency, a California Governmental Entity (the
"Landlord"),
and 99 cents Only Stores, a California corporation (the "Tenant"), who agree
as
follows:
ARTICLE
ONE:
|
BASIC
TERMS
|
This
Article One contains the Basic Terms of this Lease between the Landlord and
Tenant named
below. Other Articles, Sections and Paragraphs of the Lease referred to in
this
Article
One explain and define the Basic Terms and are to be read in conjunction with
the Basic
Terms. In the event of any conflict or contradiction between this Article One
and such other
Articles, Sections and Paragraphs of the Lease, such other Articles, Sections
and Paragraphs
shall control and supersede the provisions of this Article One in regards to
such conflict
or contradiction.
Section
1.01.
|
Landlord's
Address:
|
00000
Xxxxxxx Xxxxxxxxx
Xxxxxxxx
Xxxxxxx, XX 00000-0000
Telephone:
(000) 000-0000 Fax: (000) 000-0000
ATTN:
Executive Director
Section
1.02.
|
Tenant's
Address:
|
0000
Xxxx
Xxxxx Xxxxxxx Xxxxxx
Xxxx
xx
Xxxxxxxx, XX 00000
Telephone:
(000) 000-0000 Fax: (000) 000-0000
ATTN:
Real Estate Department
Section
1.03. Property:
The
demised premises (the "Property") is part of Landlord's
multi-tenant real property known as The Gardens Center (the "Shopping Center").
The Shopping Center includes the land, the buildings and all other improvements
located on the
land,
and the Common Areas described in Section 4.05(a). The Property is commonly
known as 12123-12125 Xxxxxx Street, Hawaiian Gardens California and is more
specifically shown on the
site
plan attached to this Lease as Exhibit "A" comprising approximately 15,042
square feet
of
ground floor area.
Section
1.04. Lease
Term:
Approximately seven (7) years beginning on the date that Landlord delivers
possession of the Property to Tenant in the condition specified in Section
6.01 and ending on January 31, 2002 unless sooner terminated in accordance
with
this Lease
(the "Initial Lease Term"). Tenant shall have the option to extend the Lease
Term beyond
the Initial Lease Term as set forth in Section 2.02.
Section
1.05. Permitted
Uses:
General
retail store use only as more particularly
described in Article 5 hereof.
Section
1.06. Prepaid
Base Rent:
Eighteen
Thousand Dollars ($18,000) (the "Prepaid
Base Rent") payable upon execution of this Lease and to be applied in accordance
with
Section 3.01.
Section
1.07. N/A
Section
1.08. Brokers:
None.
Section
1.09. Rent and
Other Charges Payable by Tenant:
(a) BASE
RENT:
Beginning on the Rent Commencement Date (as defined in Section 3.01),
Tenant shall pay the sum of Nine Thousand Dollars ($9,000) per month (the "Base
Rent") as
rent
for the Property. The Base Rent shall be subject to adjustment as set forth
in
Section
3.03.
(b) OTHER
PERIODIC PAYMENTS:
(i)
Property Taxes (See Section 4.02); (ii) Utilities
(See Section 4.03); (iii) Insurance Premiums (See Section 4.04); (iv)
Maintenance, Repairs
and Alterations (See Article Six).
Section
1.10. Riders:
The
following Riders are attached to and made a part of this
Lease: None.
ARTICLE
TWO:
|
LEASE
TERM
|
Section
2.01. Lease
of
Property For Lease Term.
Landlord leases the Property to
Tenant
and Tenant leases the Property from Landlord for the Lease Term. The Lease
Term
is
for
the period stated in Section 1.04 above and shall begin and end on the dates
specified in
Section 1.04 above, unless the beginning or end of the Lease Term is changed
under any provision
of this Lease. The "Commencement Date" shall be the date specified in Section
1.04 above for the beginning of the Lease Term, unless advanced or delayed
under
any provision of this Lease.
Section
2.02. Right
to
Extend Lease Term.
Tenant
shall have the right to extend the
Lease
Term, on the terms and provisions set forth in this Lease, for an additional
five (5)-year
period ("First Extended Term") following expiration of the Initial Lease Term
by
giving
written notice of exercise to Landlord at least one hundred eighty (180) days
prior to
the
expiration of the Initial Lease Term. Tenant shall have the right to extend
the
Lease Term,
on
the terms and provisions set forth in this Lease, for an additional five
(5)-year period
("Second Extended Term") following expiration of the First Extended Term by
giving written
notice of exercise to Landlord at least one hundred eighty (180) days prior
to
the expiration
of the First Extended Term. The Base Rent during any such Extended Terms shall
be
subject to increase as set forth in Section 3.03.
Section
2.03. Delivery
of Property.
Landlord shall deliver possession of the Property
to Tenant in the condition specified in Section 6.01 on or before July 31,
1995,
and after
having provided Tenant with a written Notice setting forth the anticipated
date
of delivery
at least thirty (30) days before such anticipated delivery date. The date that
Landlord
so delivers possession of the Property and Tenant accepts possession, shall
hereinafter
be referred to as the "Delivery Date". Within ten (10) days after such Delivery
Date,
Landlord shall send a written notice to Tenant memorializing the Delivery Date,
Commencement
Date, and the Rent Commencement Date and if Tenant does not object to such
dates
set
forth
in Landlord's notice within ten (10) calendar days of receipt thereof, then
such
dates
shall be deemed correct and such notice shall be attached to this Lease and
be
incorporated
herein. Landlord's failure to so deliver possession of the Property shall
constitute
a material breach of this Lease, and Tenant shall, without prejudice to any
of
Tenant's
other rights or remedies, have the right to terminate this Lease upon written
notice by
Tenant
to Landlord. If Tenant terminates this Lease pursuant to this Section, Landlord
shall
immediately return to Tenant all prepaid rent, security deposits and other
sums
paid by
Tenant
to Landlord.
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
1 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
Section
2.04. Holding
Over.
IfTenant
does not vacate the Property upon the expiration
or earlier termination of the Lease and Landlord thereafter accepts rent from
Tenant,
Tenant's occupancy of the Property shall be a "month-to-month" tenancy, subject
to all of the terms of this Lease applicable to a month-to-month
tenancy.
Section
2.05. Contingency
Period.
Tenant
shall have a period of time following the
execution of this Lease and ending 30 days thereafter to satisfy itself that
the
Property is
satisfactory for Tenant's intended use (the "Contingency Period"). The date
of
expiration of the Contingency Period is referred to in this Lease as the
"Contingency Period Expiration Date." If
Tenant
discovers that the Property is unsatisfactory for Tenant's intended use for
any
reason, including, without limitation, the Property's noncompliance with
applicable ordinances
or parking requirements, then Tenant shall have the right to terminate this
Lease by
giving
written notice of termination to Landlord at any time prior to the Contingency
Period
Expiration Date. Upon Tenant giving notice of termination, Landlord and Tenant
shall be
released from their obligations under this Lease except that landlord shall
immediately return
to
Tenant all Prepaid Rent and other sums paid by Tenant hereunder. During the
Contingency
Period, Tenant shall have the right to enter upon and inspect the Property
at
all reasonable
times and to conduct, at Tenant's expense, any studies, tests, investigations
or
assessments as Tenant deems necessary or appropriate. Tenant shall periodically
communicate with
Landlord as to the progress of the investigations in connection with this
Contingency Period
and any material findings in such regards. Tenant shall provide copies, within
a
reasonable
time after Landlord's request therefore, of any formal written reports prepared
for
Tenant by licensed professionals, such as structural engineers or environmental
experts, in
connection with such Contingency Period.
ARTICLE THREE: |
BASE
RENT
|
Section
3.01 Time
and Manner of Payment.
Beginning on the Rent Commencement Date
(as
defined below) and the first day of each calendar month thereafter, Tenant
shall
pay Landlord
the Base Rent, in advance. The Base Rent shall be payable at Landlord's address
or at
such
other place as Landlord may designate in writing. The Prepaid Base Rent shall
be
applied to and be considered payment for the Base Rent payable for the first
full month immediately
following the Rent Commencement Date. Base Rent for any partial month shall
be
prorated based on the actual number of days in the calendar month
involved.
Section
3.02 Rent
Commencement Date.
For
purposes of this Lease, the "Rent Commencement
Date" shall be Ninety (90) days after the Delivery Date.
Section
3.03 Base
Rent Increases.
(a) The
Base
Rent shall be increased on February 1, 2002 and February 1, 2007 ("Rent
Adjustment Dates"). The Base Rent shall be increased on each Rent Adjustment
Date during
the Initial Lease Term (or any extension thereof, if applicable) in accordance
with the
increase in the United States Department of Labor, Bureau of Labor Statistics,
Consumer Price
Index for All Urban Consumers for the United States (base year 1982-84 = 100)
(the "Index")
as follows. The Base Rent (for purposes of this Section 3.03(a), the "Comparison
Base
Rent") in effect immediately before each Rent Adjustment Date shall be increased
by the percentage that the Index has increased from the date (for purposes
of
this Section 3.03(a), the
"Comparison Date") on which payment of the Comparison Base Rent began through
the month in
which
the applicable Rent Adjustment Date occurs; provided, however, in no event
shall
the monthly
Base Rent during the First Extended Term be less than one hundred and twenty
one
percent
(121%) nor greater than one hundred and thirty five percent (135%) of the
monthly Base
Rent
during the Initial Lease Term, and in no event shall the monthly Base Rent
during the
Second Extended Term be less than one hundred and fifteen percent (115%) nor
greater than one hundred and twenty five percent (125%) of the monthly Base
Rent
during the First Extended Term.
(b) General
CPI Provisions. Landlord shall notify Tenant of each increase by a
written
statement which shall include the Index for the applicable Comparison Date,
the
Index
for
the applicable Rent Adjustment Date, the percentage increase between those
two
Indices,
and the new Base Rent. Tenant shall pay the new Base Rent from the applicable
Rent Adjustment
Date until the next Rent Adjustment Date. Landlord's notice of increase may
be
given after the applicable Rent Adjustment Date, and Tenant shall pay Landlord
the accrued rental
adjustment for the time elapsed between the effective date of the increase
and
Landlord's
notice of such increase at the same time as the next Base Rent payment to
Landlord is
due.
If the format or components of the Index are materially changed after the
Commencement
Date, Landlord shall substitute an index which is published by the Bureau of
Labor
Statistics or similar agency and which is most nearly equivalent to the Index
in
effect on
the
Commencement Date. The substitute index shall be used to calculate the increase
in the Base Rent unless Tenant objects to such index in writing. If Tenant
objects, Landlord and
Tenant shall submit the selection of the substitute index for binding
arbitration in accordance
with the rules and regulations of the American Arbitration Association at its
office
closest to the Property. The costs of arbitration shall be borne equally by
Landlord and
Tenant.
Section
3.04. N/A
Section
3.05 Termination;
Advance Payments.
Upon
termination of this Lease under Article Seven (Damage or Destruction), Article
Eight (Condemnation) or any other termination
not resulting from Tenant's default, and after Tenant has vacated the Property
in
the
manner required by this Lease, Landlord shall immediately refund or credit
to
Tenant (or
Tenant's successor) the unused portion of the Security Deposit, any advance
rent
or other advance
payments made by Tenant to Landlord, and any amounts paid for Operating Expenses
or otherwise
which apply to any time periods after the effective date of the termination
of
the Lease.
Section
3.06. Work
Letter.
The work
letter (the "Work Letter") attached to this Lease
as
Exhibit "B" sets forth certain work and improvements anticipated to be
constructed by
Tenant
with respect to the Property prior to Tenant's opening for business ("Tenant's
Work").
Tenant shall pay for the cost of constructing Tenant's Work. Following the
execution
of this Lease, Tenant shall have the right to enter upon the Property for the
purpose
of constructing Tenant's Work; provided, however, that prior to such entry,
Tenant shall
have obtained the policies of insurance required to be obtained by Tenant under
Section 4.04
hereof and also providing that the Property is vacant at such time. For the
purposes of
Section 6.05, Tenant's Work is hereby approved. Tenant's entry upon the Property
pursuant to
this
paragraph shall not advance the Commencement Date of this Lease. The Work Letter
also
sets
forth certain work to be performed by Landlord ("Landlord's Work") at Landlords
sole
cost
and expense. Landlord's Work and Tenant's Work shall be completed within the
time frames
specified in the Work Letter. Landlord and Tenant hereby agree to cooperate
(including
providing sufficient advance notice) with each other with respect to their
respective
work as set forth in this Section 3.06, so as not to unreasonably interfere
with
the
other
party's work and business operations.
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
2 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
ARTICLE FOUR: |
OTHER
CHARGES PAYABLE BY LANDLORD AND
TENANT
|
Section
4.01 Additional
Rent.
All
charges payable by Tenant other than Base Rent
are
called "Additional Rent." Unless this Lease provides otherwise, Tenant shall
pay
all
Additional Rent then due with the next monthly installment of Base Rent. The
term "rent" shall
mean Base Rent and Additional Rent.
Section
4.02 Property
Taxes.
(a) Real
Property Taxes.
Landlord
is responsible for the payment of all real property
taxes on the Property (excluding any fees, taxes or assessments against, or
as a
result
of, any tenant improvements installed on the Property by Tenant).
(b) Definition
of "Real Property Tax."
"Real
property tax" means: (i) any fee, license
fee, license tax, business license fee, commercial rental tax, or other tax
imposed by
any
taxing authority against the Property (however not including those specifically
against
Tenant's business); and (ii) any tax or charge for fire protection, streets,
sidewalks,
road maintenance, refuse or other services provided to the Property by any
governmental
agency.
(c) Personal
Property Taxes.
(i) Tenant
shall
pay all taxes charged against trade fixtures, furnishings, equipment
or any other personal property belonging to Tenant. Tenant shall try to have
personal property taxed separately from the Property.
(ii) If
any of Tenant's
personal property is taxed with the Property, Tenant
shall pay Landlord the taxes for the personal property within fifteen (15)
days
after Tenant receives a written statement from Landlord for such personal
property
taxes.
Section
4.03. Utilities.
Tenant
shall pay, directly to the appropriate supplier,
the cost of all natural gas, heat, light, power, sewer service, telephone,
water, refuse
disposal and other utilities and services supplied to the Property. However,
if
any services
or utilities are jointly metered with other parties, Tenant shall pay its
reasonable share
thereof to Landlord within fifteen (15) days after receipt of Landlord's written
invoice
therefore and such other supporting documentation as Tenant may reasonably
request.
Section
4.04. Insurance
Policies.
(a) Liability
Insurance.
During
the Lease Term, Tenant shall maintain, at Tenant's
sole cost and expense, a policy of commercial general liability insurance
(sometimes known
as
broad form comprehensive general liability insurance) insuring Tenant against
liability
for bodily injury, property damage (including loss of use of property) and
personal injury
arising out of the operation, use or occupancy of the Property. Tenant shall
name Landlord
as an additional insured under such policy. The initial amount of such insurance
shall
be
One Million Dollars ($1,000,000.00) per occurrence and shall be subject to
periodic adjustment based upon inflation, liability awards, recommendation
of
Landlord's professional insurance
advisers and other relevant factors. The liability insurance obtained by Tenant
under
this Section 4.04(a) shall (i) be primary and non-contributing; (ii) contain
cross- liability
endorsements; and (iii) insure Landlord against Tenant's lack of performance
under Section
5.04. The amount and coverage of such insurance shall not limit Tenant's
liability nor
relieve Tenant of any other obligation under this Lease.
(b) Property
Insurance.
During
the Lease Term, Landlord shall maintain, at Landlord's
sole cost and expense, policies of insurance covering loss of or damage to
the
Property
in the full amount of its replacement value. Such policy shall provide
protection against
all perils included within the classification of fire, extended coverage,
vandalism, malicious
mischief, special extended perils (all risk), sprinkler leakage and any other
perils
which Landlord deems reasonably necessary. Landlord shall have the right to
obtain flood
and
earthquake insurance if required by any lender holding a security interest
in
the Property.
Landlord shall not obtain insurance for Tenant's fixtures or equipment or
building improvements
installed by Tenant on the Property. Tenant shall not do or permit anything
to
be
done
which invalidates any such insurance policies.
(c) Payment
of Premiums.
Upon
Landlord's request, Tenant shall deliver to Landlord
a copy of any policy of insurance which Tenant is required to maintain under
this Section
4.04. At least thirty (30) days prior to the expiration of any such policy,
Tenant shall deliver to Landlord a renewal of such policy. As an alternative
to
providing a policy of
insurance, Tenant shall have the right to provide Landlord a certificate of
insurance, executed
by an authorized officer of the insurance company, showing that the insurance
which Tenant
is
required to maintain under this Section 4.04 is in full force and effect and
containing
such other information which Landlord reasonably requires.
(d) General
Insurance Provisions.
(i) Any
insurance
which Tenant is required to maintain under this Lease shall
include a provision which requires the insurance carrier to give Landlord
not
less
than thirty (30) days' written notice prior to any cancellation or modification
of such coverage.
(ii) If
Tenant fails to
deliver any policy, certificate or renewal to Landlord
required under this Lease within thirty (30) days following written request
from Landlord for such evidence of insurance, Landlord may obtain such
insurance,
in which case Landlord shall immediately notify Tenant and Tenant shall
reimburse Landlord for the cost of such insurance within fifteen (15) days
after
receipt of a statement that indicates the cost of such
insurance.
(iii) Tenant
shall
maintain all insurance required under this Lease with companies
holding a "General Policy Rating" of B+ or better, as set forth in the
most
current issue of "Best Key Rating Guide". Landlord and Tenant acknowledge
the
insurance markets are rapidly changing and that insurance in the form and
amounts
described in this Section 4.04 may not be available in the future. Tenant
acknowledges that the insurance described in this Section 4.04 is for the
primary
benefit of Landlord. If at any time during the Lease Term, Tenant is unable
to
maintain the insurance required under the Lease, Tenant shall nevertheless
maintain insurance coverage which is customary and commercially reasonable
in the insurance industry for Tenant's type of business, as that coverage
may change from time to time.
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
3 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
(iv) Unless
prohibited
under any applicable insurance policies maintained, Landlord
and Tenant each hereby waive any and all rights of recovery against the
other,
or
against the officers, employees, agents or representatives of the other,
for loss of or damage to its property or the property of others under its
control,
if such loss or damage is covered by any insurance policy in force (whether
or
not described in this Lease) at the time of such loss or damage. Upon
obtaining the required policies of insurance, Landlord and Tenant shall give
notice
to
the insurance carriers of this mutual waiver of subrogation.
Section
4.05. Common
Areas; Use, Maintenance and Costs.
(a) Common
Areas.
As used
in this Lease, "Common Areas" shall mean all areas within the Shopping Center
which are not leased or held for the exclusive use of Tenant or other tenants,
including, but not limited to, parking areas, driveways, sidewalks, loading
areas,
access roads, lobby areas, elevators, corridors, landscaping and planted areas
as depicted
on Exhibit "A." Landlord shall not change the size, location, nature and use
of
any of
the
Common Areas, including vehicle parking spaces, convert Common Areas into
leasable areas,
or
decrease Common Area land and/or facilities, without Tenant's prior written
consent,
which shall not be unreasonably withheld. No activities or changes are permitted
to
the
Common Areas if they would materially affect Tenant's use of the Property.
Tenant may withhold its consent, in its sole and absolute discretion, to any
changes to the common area which
would reduce the amount of parking available to Tenant's customers, decrease
visibility or
access
to the Property, or reduce the effectiveness of Tenant's signage.
(b) Use
of Common Areas.
Tenant
shall have the nonexclusive right (in common with
other tenants) to use the Common Areas for the purposes intended at no
additional cost to
Tenant, subject to such reasonable rules and regulations as Landlord may
establish from time
to
time. Tenant shall abide by such rules and regulations and shall use its best
efforts
to cause others who use the Common Areas with Tenant's express or implied
permission to
abide
by Landlord's rules and regulations. At any time, Landlord may temporarily
close
any
Common Areas to perform any acts in the Common Areas as, in Landlord's judgment,
are necessary
to improve the Shopping Center; provided that Landlord gives Tenant appropriate
prior
written notice and Landlord takes all reasonable actions to avoid so doing
during the months
of
November and December. Tenant shall not interfere with the rights of Landlord,
other
tenants or any other person entitled to use the Common Areas.
(c) Vehicle
Parking.
Tenant
and its invitee and customers shall be entitled to the
nonexclusive use of all vehicle parking spaces in the Shopping Center for
non-reserved parking
without the payment of any additional rent by Tenant or charge to Tenant or
its
invitees
or customers. All such vehicle parking spaces shall be available only for
customers of
tenants of the shopping center, other tenants of the Shopping Center and their
employees shall
not
be permitted to use any of the vehicle parking spaces. Handicapped spaces shall
only be used by those legally permitted to use them.
(d) Maintenance
of Common Areas.
Landlord
shall maintain and operate the Common Areas
safely and in good order, condition and repair, all at Landlord's sole cost
and
expense.
Landlord's maintenance of the Common Areas shall include, but not be limited
to,
the
timely and first quality performance of the following: Sweeping, trash removal,
graffiti removal,
deterring loitering and panhandling, landscape planting and maintenance, asphalt
maintenance,
security, painting exterior of structures, lighting, traffic and parking
control,
and all other things normally done in the maintenance or operation of a first
class shopping center.
(e) Loading.
Tenant
shall be permitted, at all times, to use portions of the Common
Areas, labeled and depicted as "Tenant's Loading Areas" on Exhibit "A", as
necessary, for making deliveries of merchandise, storing shopping carts,
operating vending machines and otherwise as necessary for the smooth and
ordinary operation of its business. Subject to the provisions of Section 6.05,
as they apply to alterations, additions, and improvements of the Property,
Tenant may change Tenant's Loading Areas to facilitate Tenant's receipt of
merchandise
and/or the storage/use of shopping carts, provided that Tenant obtains
Landlord's prior
written consent, which shall not be unreasonably withheld.
ARTICLE FIVE: |
USE
OF PROPERTY
|
Section
5.01. Permitted
Uses.
Tenant
may use the Property only for the purpose of
conducting a general retail store (including, without limitation, beer and
wine
sales for off-site
consumption and all other merchandise generally sold at Tenant's other
locations), for
business offices in connection therewith and such other uses related or
incidental thereto,
consistent with all laws, federal, state or local, and with any applicable
regulation
of any government body and for no other purpose during the term of the Lease.
Landlord agrees to fully cooperate with Tenant in obtaining any desired permits
from governmental agencies or approvals from other tenants of the Shopping
Center concerning Tenant's use of the Property permitted or desired under this
Lease, including, without limitation,
a beer and wine sales permit for off-site consumption. Landlord shall indemnify
and
defend Tenant against any and all claims asserted by third parties claiming
that
Tenant's use
infringes any rights to exclusivity which such third party may have in the
Shopping Center.
Tenant may use the Property for other purposes with Landlords written consent
which shall
not
be unreasonably withheld. Nothing in this Article shall be construed as a
covenant by
Tenant
of continuous operations. Landlord represents and warrants to Tenant that Tenant
may
transfer its beer and wine license for its existing business at 00000 Xxxxxx
Xxxxxx, Xxxxxxxx
Xxxxxxx without violating laws of the City of Hawaiian Gardens or any entity
associated
therewith. Notwithstanding the prior sentence, Tenant shall not sell any
alcoholic
beverages unless permitted to do so by the California Department of Alcoholic
Beverage
Control, or such other party which may have jurisdiction thereon.
Section
5.02. Manner
of Use.
Tenant
shall not cause or permit the Property to be
used
in any way which constitutes a violation of any law, ordinance, or governmental
regulation
or order, which annoys or interferes with the rights of tenants of the Shopping
Center,
or which constitutes a nuisance or waste. Tenant shall obtain and pay for all
permits
required for Tenant's occupancy of the Property and shall promptly take all
actions necessary
to comply with all applicable statutes, ordinances, rules, regulations, orders
and requirements
regulating the use by Tenant of the Property. Notwithstanding any other
provision
of this Lease, if at any time during the Lease Term either the Property or
the
Shopping
Center is not in conformity with any present or future law or regulation
relating to
the
use, occupation or reconstruction thereof (including, without limitation, the
Americans
with Disabilities Act, earthquake safety codes, fire sprinkler codes, and laws
governing
the presence of regulated or hazardous substances (such as asbestos)
incorporated into
the
Property (which were not placed there by Tenant)) or is subject to any order
of
any governmental
agency ordering any rebuilding, alteration or repair thereof, Landlord shall
immediately
at its own cost and expense, and without any right of reimbursement from Tenant
(unless
the work is required because of Tenant's particular use of the Property or
the
Lease has
been
terminated under any provision of this Lease), effect such alterations and
repairs to
the
Property or the Shopping Center as
may
be
necessary to comply with such laws, regulations,
orders or requirements. All such alterations and repairs, if made to the
Property,
shall be made in accordance with the plans and specifications approved in
writing by
Tenant.
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
4 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
Section
5.03 Signs.
Tenant
shall have the right to place such signs on the exterior
of the Property as Tenant may desire; provided that such signs comply with
applicable
laws. Tenant shall have the right to use and modify any sign area used by any
prior
tenant of the Property, whether such sign area is located on the Property,
within the Common
Areas, or elsewhere in the Shopping Center. Tenant shall also have the right
to
modify
existing monument signage or add additional monument signage in the Common
Area
or elsewhere
in the Shopping Center, subject only to applicable governmental approvals and
any existing
written obligations of Landlord to existing tenants of the Shopping Center.
Landlord
represents to Tenant that Landlord has disclosed to Tenant in writing the
relevant details
of all such obligations. Landlord shall use its best efforts to obtain any
required approvals
from the other tenants of the Shopping Center and applicable governmental
agencies in connection with any signs desired to be installed by Tenant. For
a
period of time 60 days following
the end of the Lease term, Tenant shall be permitted to place two signs not
to
exceed
24
inches by 36 inches in size, in prominent places visible from the exterior
of
the premises
informing the public of Tenant's relocation and other similar information.
Landlord shall
cooperate with Tenant to obtain the best possible signage in Tenant's judgement.
Landlord
shall seek the cooperation of the City of Hawaiian Gardens and any entity
affiliated therewith
to obtain Tenant's maximum desired signage.
Section
5.04. Indemnity.
Except
for losses, damages and claims arising out of the acts or omissions of Landlord
or Landlord's agents, contractors and employees, Tenant shall
indemnify Landlord against and hold Landlord harmless from any and all costs,
claims or
liability arising from: (a) Tenant's use of the Property; (b) the conduct of
Tenant's business
or anything else done or permitted by Tenant to be done in or about the
Property, (c)
any
breach or default in the performance of Tenant's obligations under this Lease;
or (d) any
misrepresentation or breach of warranty by Tenant under this Lease. Tenant
shall
defend Landlord
against any such cost, claim or liability at Tenant's expense with counsel
reasonably
acceptable to Landlord.
Section
5.05. Landlord's
Access.
Landlord
or its agents may enter the Property at
reasonable times to inspect the Property; or for any other purpose Landlord
deems reasonably
necessary. Landlord shall give Tenant prior notice of such entry, except in
the
case
of
an emergency.
Section
5.06. Quiet
Possession.
So long
as Tenant is not in default under this Lease,
Tenant may occupy and enjoy the Property for the full Lease Term, subject to
the
provisions
of this Lease.
ARTICLE SIX: |
CONDITION
OF PROPERTY; MAINTENANCE, REPAIRS AND
ALTERATIONS
|
Section
6.01. Condition
of Property.
Landlord
shall deliver the Property to
Tenant
in a clean and good condition and with Landlord's Work as set forth in Section
3.06 and
Exhibit "B" complete on the Commencement Date. Landlord warrants to Tenant
to
the best of
Landlord's actual knowledge and without any special inquiry or investigation,
that the Property,
in the state existing on the Commencement Date, but without regard to
alterations or
improvements made by Tenant or the use for which Tenant will occupy the
Property, does not violate
any covenants or restrictions of record, or any applicable building or other
code, regulation
or ordinance in effect on the Commencement Date. In the event it is determined
that
any
of the foregoing covenants or warranties have been violated, then it shall
be
the obligation
of Landlord, after written notice from Tenant, to promptly, at Landlord's sole
cost
and
expense, rectify any such violation.
Section
6.02. Exemption
of Landlord from Liability.
Landlord
shall not be liable for
any
damage or injury to the person, business (or any loss of income therefrom),
goods, wares
or
property of Tenant, Tenant's employees, invitee, clients, customers or any
other
person
in
or about the Property, whether such damage or injury is caused by or results
from: (a)
theft, fire, steam, electricity, water, gas or rain, (b) the breakage, leakage,
obstruction
or other defects of pipes, sprinklers, wires, appliances, plumbing, air
conditioning
or lighting fixtures or any other cause, (c) conditions arising in or about
the
Property
or upon other portions of the Shopping Center, or from other sources or places
or from
new
construction or repair of the Property or the Shopping Center, or (d) any act
or
omission
of any other tenant of the Shopping Center; except for damage or injury caused
by or
resulting from Landlord's (or its agents or contractor's) gross negligence
or
willful misconduct
or Landlord's failure to perform its obligations under this Lease.
Section
6.03. Landlord's
Obligations.
Except
as provided in Article Seven (Damage
or Destruction) and Article Eight (Condemnation), Landlord, at its sole cost
and
expense,
shall keep the roof, foundations, exterior walls (except for painting thereof),
and sidewalks
of the Property in good order, condition and repair. Landlord shall make repairs
under
this Section 6.03 within a reasonable time after receipt of written notice
from
Tenant of
the
need for such repairs. Landlord represents and warrants to Tenant that, on
the
Commencement
Date, the heating, ventilation, air conditioning, electrical, plumbing and
other
systems
contained within or servicing the Property shall be in good working condition
and repair.
Section
6.04. Tenant's
Obligations.
(a) Except
as
provided in Section 5.02, Section 6.03, Article Seven (Damage or Destruction)
and Article Eight (Condemnation), Tenant shall keep all portions of the Property
(excepting
foundations, exterior walls, roofs and sidewalks) in good order, condition
and
repair (including interior repainting and refinishing, as needed). If any
portion of the Property which Tenant is obligated to repair cannot be fully
repaired or restored, Tenant shall promptly replace such portion of the
Property, regardless of whether the benefit of such replacement extends beyond
the Lease Term; but if the benefit or useful life of such replacement
extends beyond the remaining Lease Term (as such term may be extended by
exercise of
any
options), the cost of such replacement shall be amortized over its useful life,
and Tenant
shall be liable only for that portion of the amortized cost which is applicable
to the remaining
Lease Term (as extended).
(b) Tenant
shall fulfill all of Tenant's obligations under this Section 6.04, except as
otherwise provided, at Tenant's expense. If Tenant fails to maintain, repair
or
replace
the Property as required by this Section 6.04, Landlord may, upon ten (10)
days'
prior
notice to Tenant (except that no notice shall be required in the case of an
emergency), enter
the
Property and perform such maintenance or repair (including replacement, as
needed) on
behalf
of Tenant. In such case, Tenant shall reimburse Landlord for costs incurred
in
performing such maintenance or repair for which Tenant is responsible
immediately upon demand.
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
5 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
Section
6.05. Alterations,
Additions, and Improvements.
(a)
Tenant shall not make
any
alterations, additions, or improvements to the Property without Landlord's
prior
written
consent, except for non-structural alterations which do not exceed Ten Thousand
Dollars
($10,000.00) in cost cumulatively over the Lease Term. Landlord may require
Tenant to
provide demolition and/or lien and completion bonds in form and amount
satisfactory to Landlord.
Tenant shall promptly remove any alterations, additions, or improvements
constructed
in violation of this Section 6.05(a) upon Landlord's written request and restore
such
portions of the Property to their condition immediately prior to Tenant's
construction of
such
alterations, additions, or improvements. All alterations, additions, and
improvements
shall be done in a good and workmanlike manner, in conformity with all
applicable
laws and regulations, and by a contractor approved by Landlord. Upon completion
of
any
such work, Tenant shall provide Landlord with "as built" plans, copies of all
construction
contracts, and proof of payment for all labor and materials, to the extent
that
the
same
are available to Tenant.
(b) Tenant
shall
pay when due all claims for labor and material furnished to the Property.
Tenant shall give Landlord at least twenty (20) days' prior written notice
of
the commencement
of any work on the Property, regardless of whether Landlord's consent to such
work
is
required. Landlord may elect to record and post notices of non-responsibility
on
the Property.
Section
6.06. Condition
upon Termination.
Upon the
termination of the Lease, Tenant
shall surrender the Property to Landlord, broom clean and in the same condition
as received
except for ordinary wear and tear which Tenant was not otherwise obligated
to
remedy under
any
provision of this Lease. However, Tenant shall not be obligated to repair any
damage which Landlord is required to repair under Article Seven or elsewhere
under this Lease. In addition, Landlord may require Tenant to remove any of
Tenant's alterations, additions
or improvements (whether or not made with Landlord's consent) prior to the
expiration
of the Lease and to restore the Property to its prior condition, all at Tenant's
expense. All alterations, additions and improvements which Landlord has not
required Tenant to
remove
shall become Landlord's property and shall be surrendered to Landlord upon
the
expiration
or earlier termination of the Lease, except that Tenant may remove any of
Tenant's trade
fixtures, machinery or equipment. Tenant shall repair, at Tenant's expense,
any
damage to
the
Property caused by the removal of any such trade fixtures, machinery or
equipment. If
any
alteration, addition or improvement made by Tenant shall not be in the condition
required
above for surrender, then Tenant may, at Tenant's option, either restore such
alteration,
addition, or improvement to the required condition or remove or restore such
affected portion of the Property to its condition immediately prior to such
alteration, addition,
or improvement.
ARTICLE SEVEN: |
DAMAGE
OR DESTRUCTION
|
Section
7.01. Partial
Damage to Property.
(a) Tenant
shall notify Landlord in writing immediately upon the occurrence of any
damage to the Property. If the Property is only partially damaged (i.e., less
than fifty percent (50%) of the Property is untenantable as a result of such
damage and less than fifty percent
(50%) of Tenant's operations are materially impaired) and if the proceeds
received by Landlord from the insurance policies described in Section 4.04(b)
are sufficient to pay for the necessary repairs, this Lease shall remain in
effect and Landlord shall repair the damage as soon as reasonably possible.
Landlord may elect (but is not required) to repair any damage to Tenant's
fixtures, equipment, or improvements.
(b) If
the
insurance proceeds received by Landlord are not sufficient to pay the
entire
cost of repair, or if the cause of the damage is not covered by the insurance
policies which
Landlord maintains under Section 4.04(b), Landlord may elect either to (i)
repair the damage
as
soon as reasonably possible, in which case this Lease shall remain in full
force
and
effect, or (ii) terminate this Lease as of the date the damage occurred.
Landlord shall notify
Tenant within thirty (30) days after receipt of notice of the occurrence of
the
damage whether
Landlord elects to repair the damage or terminate the Lease. If Landlord elects
to terminate
this Lease, Tenant may elect to continue this Lease in full force and effect,
in
which
case Tenant shall repair any damage to the Property and any building in which
the Property
is located. Tenant shall pay the cost of such repairs, except that upon
satisfactory
completion of such repairs, Landlord shall deliver to Tenant any insurance
proceeds
received by Landlord for the damage repaired by Tenant. Tenant shall give
Landlord written
notice of such election within ten (10) days after receiving Landlord's
termination notice,
and in such event Landlord shall have no responsibility to repair or replace
Tenant's trade
fixtures, inventory, or other personal property, all of which shall be Tenant's
responsibility
to handle as Tenant determines in Tenant's sole discretion.
(c) If
the
damage to the Property occurs during the last six (6) months of the Lease
Term and such damage will require more than thirty (30) days to repair, either
Landlord or
Tenant
may elect to terminate this Lease as of the date the damage occurred, regardless
of
the
sufficiency of any insurance proceeds. The party electing to terminate this
Lease shall
give written notification to the other party of such election within thirty
(30)
days after
Tenant's notice to Landlord of the occurrence of the damage.
Section
7.02. Substantial
or Total Destruction.
If the
Property is substantially
or totally destroyed by any cause whatsoever (i.e., the damage to the Property
is
greater than partial damage as described in Section 7.02), and regardless of
whether Landlord receives any insurance proceeds, this Lease shall terminate
as
of the date the destruction
occurred. Notwithstanding the preceding sentence, if the Property can be rebuilt
within
six (6) months after the date of destruction, Landlord may elect to rebuild
the
Property
at Landlord's own expense, in which case this Lease shall remain in full force
and effect.
Landlord shall notify Tenant of such election within thirty (30) days after
Tenant's notice
of
the occurrence of total or substantial destruction. If Landlord so elects,
Landlord
shall rebuild the Property at Landlord's sole expense.
Section
7.03. Temporary
Reduction of Rent.
If the
Property is destroyed or damaged
and Landlord or Tenant repairs or restores the Property pursuant to the
provisions of
this
Article Seven, any rent payable during the period of such damage, repair and/or
restoration
shall be reduced according to the degree, if any, to which Tenant's use of
the
Property
is impaired.
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
6 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
ARTICLE EIGHT: |
CONDEMNATION
|
Section
8.01. If
all or any portion of the Property is taken under the power of eminent
domain or sold under the threat of that power (all of which are called
"Condemnation"),
this Lease shall terminate as to the part taken or sold on the date the
condemning
authority takes title or possession, whichever occurs first. If more than twenty
percent
(20%) of the floor area of the building in which the Property is located, or
which is
located on the Property, is taken, either Landlord or Tenant may terminate
this
Lease as of
the
date the condemning authority takes title or possession, by delivering written
notice to
the
other within ten (10) days after receipt of written notice of such taking (or
in
the absence
of such notice, within ten (10) days after the condemning authority takes title
or possession). If neither Landlord nor Tenant terminates this Lease, this
Lease
shall remain in
effect
as to the portion of the Property not taken, except that the Base Rent and
Additional
Rent shall be reduced in proportion to the reduction in the floor area of the
Property.
Any award for the taking of all or any part of the Property or the Shopping
Center under
the
power of eminent domain or any payment made under threat of the exercise of
such
power
shall be the property of Landlord; provided, however, that Tenant shall be
entitled to any award for (i) loss of or damage to Tenant's trade fixtures,
personal property and tenant improvements
that have been paid for by Tenant and (ii) the value of the leasehold estate
(i.e.,
the leasehold bonus value). Landlord shall have no obligation to assist (provide
counsel)
Tenant in obtaining any such award. In the event that this Lease is not
terminated by
reason
of such condemnation, Landlord shall to the extent of severance damages received
by Landlord in connection with such condemnation, repair any damage to the
Property caused by
such
condemnation except to the extent that Tenant has been reimbursed therefor
by
the condemning
authority.
ARTICLE NINE: |
ASSIGNMENT
AND SUBLETTING
|
Section
9.01. Landlord's
Consent Required.
No
portion of the Property or of Tenant's
interest in this Lease may be acquired by any other person or entity, whether
by
sale,
assignment, mortgage, sublease, transfer, operation of law, or act of Tenant,
without Landlord's
prior written consent, which consent shall not be unreasonably withheld.
Notwithstanding
the foregoing, assignment or subletting of the Property to an entity, which
controls
or is controlled by or is under common control with Tenant, or to any affiliate
resulting from the merger or consolidation with Tenant, or to any person or
entity which acquires
all the assets of Tenant as a going concern of the business that is being
conducted on
the
Property, shall not require Landlord's consent. Landlord's consent to an
assignment or subletting shall not be deemed consent to a subsequent assignment
or subletting.
ARTICLE TEN: |
DEFAULTS;
REMEDIES
|
Section
10.01. Covenants
and Conditions.
Tenant's
performance of each of Tenant's
obligations under this Lease is a condition as well as a covenant. Tenant's
right to
continue in possession of the Property is conditioned upon such
performance.
Section
10.02. Defaults.
Tenant
shall be in material default under this Lease:
(a) If
Tenant
abandons the Property or if Tenant's vacation of the Property results
in the cancellation of any insurance described in Section 4.04;
(b) If
Tenant
fails to pay rent or any other charge due within five (5) days following
written notice from Landlord that such sum is due;
(c) If
Tenant
fails to perform any of Tenant's non-monetary obligations under this
Lease for a period of thirty (30) days after written notice from Landlord;
provided that if
more
than thirty (30) days are required to complete such performance, Tenant shall
not be in
default if Tenant commences such performance within the thirty (30)-day period
and thereafter diligently pursues its completion. The notice required by this
Section is intended
to satisfy any and all notice requirements imposed by law on Landlord and is
not
in addition
to any such requirement.
(d) (i)
If
Tenant makes a general assignment or general arrangement for the benefit
of creditors; (ii) if a petition for adjudication of bankruptcy or for
reorganization or
rearrangement is filed by or against Tenant and is not dismissed within thirty
(30) days; (iii)
if
a trustee or receiver is appointed to take possession of substantially all
of
Tenant's
assets located at the Property or of Tenant's interest in this Lease and
possession is
not
restored to Tenant within thirty (30) days; or (iv) if substantially all of
Tenant's assets
located at the Property or of Tenant's interest in this Lease is subjected
to
attachment,
execution or other judicial seizure which is not discharged within thirty (30)
days.
If
a court of competent jurisdiction determines that any of the acts described
in
this subparagraph
(d) is not a default under this Lease, and a trustee is appointed to take
possession
(or if Tenant remains a debtor in possession) and such trustee or Tenant
transfers Tenant's
interest hereunder, then Landlord shall receive, as Additional Rent, the excess,
if any,
of
the rent (or any other consideration) paid in connection with such assignment
or
sublease
over the rent payable by Tenant under this Lease.
Section
10.03. Remedies.
On the
occurrence of any material default by Tenant, Landlord
may, at any time thereafter, with or without notice or demand and without
limiting Landlord
in the exercise of any right or remedy which Landlord may have:
(a) Terminate
Tenant's right to possession of the Property by any lawful means,
in
which case this Lease shall terminate and Tenant shall immediately surrender
possession
of the Property to Landlord. In such event, Landlord shall be entitled to
recover from
Tenant all damages incurred by Landlord by reason of Tenant's default, including
(i) the worth
at
the time of the award of the unpaid Base Rent, Additional Rent and other charges
which
Landlord had earned at the time of the termination; (ii) the worth at the time
of the award
of
the amount by which the unpaid Base Rent, Additional Rent and other charges
which Landlord
would have earned after termination until the time of the award exceeds the
amount of
such
rental loss that Tenant proves Landlord could have reasonably avoided; (iii)
the
worth
at
the time of the award of the amount by which the unpaid Base Rent, Additional
Rent and
other
charges which Tenant would have paid for the balance of the Lease term after
the
time
of
award exceeds the amount of such rental loss that Tenant proves Landlord could
have reasonably
avoided; and (iv) any other amount necessary to compensate Landlord for all
the
detriment
proximately caused by Tenant's failure to perform its obligations under the
Lease or
which
in the ordinary course of things would be likely to result therefrom, including,
but not
limited to, any costs or expenses Landlord incurs in maintaining or preserving
the Property
after such default, the cost of recovering possession of the Property, expenses
of reletting,
including necessary renovation or alteration of the Property, Landlord's
reasonable
attorneys' fees incurred in connection therewith, and any real estate commission
paid
or
payable. As used in subparts (i) and (ii) above, the "worth at the time of
the
award"
is
computed by allowing interest on unpaid amounts at the rate of fifteen percent
(15%) per annum, or such lesser amount as may then be the maximum lawful rate.
As used in subpart (iii) above, the "worth at the time of the award" is computed
by discounting such amount
at
the discount rate of the Federal Reserve Bank of San Francisco at the time
of
the award, plus one percent (1%). If Tenant has abandoned the Property, Landlord
shall have the option
of
(i) retaking possession of the Property and recovering from Tenant the amount
specified
in this Section 10.03(a), or (ii) proceeding under Section
10.03(b);
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
7 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
(b) Maintain
Tenant's right to possession, in which case this Lease shall continue
in effect whether or not Tenant has abandoned the Property. In such event,
Landlord shall
be
entitled to enforce all of Landlord's rights and remedies under this Lease,
including
the right to recover the rent as it becomes due; and/or
(c) Pursue
any other remedy now or hereafter available to Landlord under the laws
or
judicial decisions of the state in which the Property is located.
Section
10.04. Automatic
Termination.
Notwithstanding any other term or provision
hereof to the contrary, the Lease shall terminate on the occurrence of any
act
which
affirms the Landlord's intention to terminate the Lease as provided in Section
10.03 hereof,
including the filing of an unlawful detainer action against Tenant. On such
termination,
Landlord's damages for default shall include all costs and fees, including
reasonable
attorney's fees that Landlord incurs in connection with the filing,
commencement, pursuing
and/or defending of any action in any bankruptcy court or other court with
respect to the Lease; the obtaining of relief from any stay in bankruptcy
restraining any action to evict
Tenant; or the pursuing of any action with respect to Landlord's right to
possession of
the
Property. All such damages suffered (apart from Base Rent and other rent payable
hereunder)
shall constitute pecuniary damages which must be reimbursed to Landlord prior
to
the assumption of the Lease by Tenant or any successor to Tenant in any
bankruptcy or other proceeding.
Section
10.05. Cumulative
remedies.
Landlord's exercise of any right or remedy shall not prevent it from exercising
any other right or remedy.
ARTICLE ELEVEN: |
PROTECTION
OF LENDERS
|
Section
11.01. Subordination.
Landlord
shall have the right to subordinate this Lease to any ground lease, deed of
trust or mortgage encumbering the Property, any advances made
on
the security thereof and any renewals, modifications, consolidations,
replacements or
extensions thereof, whenever made or recorded; provided that the holder of
such
encumbrance
enters into a commercially reasonable non-disturbance agreement with Tenant.
Tenant
shall cooperate with Landlord and any lender which is acquiring a security
interest in
the
Property or the Lease. Tenant shall execute such further documents and
assurances as such
lender may require, provided that Tenant's obligations under this Lease shall
not be increased
in any material way (the performance of ministerial acts shall not be deemed
material),
and Tenant shall not be deprived of its rights under this Lease. Tenant's right
to
quiet
possession of the Property during the Lease term shall not be disturbed if
the
Tenant pays rent and performs all of Tenant's obligations under this Lease
and
is not otherwise
in default. Landlord shall, promptly following execution of this Lease, use
its
reasonable best efforts to cause any holder of an existing ground lease, deed
of
trust or mortgage
encumbering the Property or the Shopping Center to enter into a commercially
reasonable
non-disturbance agreement with Tenant.
Section
11.02. Attornment.
If
Landlord's interest in the Property is acquired by
any
ground lessor, beneficiary under a deed of trust, mortgagee, or purchaser at
a
foreclosure
sale, Tenant shall attorn to the transferee of or successor to Landlord's
interest
in the Property and recognize such transferee or successor as Landlord under
this Lease.
Tenant waives the protection of any statute or rule of law which gives or
purports to
give
Tenant any right to terminate this Lease or surrender possession of the Property
upon the
transfer of Landlord's interest.
Section
11.03. Signing
of Documents.
Tenant
shall sign and deliver any instrument
or documents necessary or appropriate to evidence any such attornment or
subordination or agreement to do so. If Tenant fails to do so within ten (10)
days after written
request, Tenant hereby makes, constitutes and irrevocably appoints Landlord,
or
any transferee
or successor of Landlord, the attorney-in-fact of Tenant to execute and deliver
any such instrument or document.
Section
11.04. Estoppel
certificates.
Upon
Landlord's written request, Tenant shall
execute, acknowledge and deliver to Landlord a written statement certifying:
(i)
that none
of
the terms or provisions of this Lease have been changed (or if they have been
changed,
stating how they have been changed); (ii) that this Lease has not been cancelled
or terminated;
(iii) the last date of payment of the Base Rent and other charges and the time
period
covered by such payment; (iv) that Landlord is not in default under this Lease
(or, if
Landlord is claimed to be in default, stating why) ; and (v) that Tenant has
accepted possession
of the Property and the Lease is in full force and effect. Tenant shall deliver
such
statement to Landlord within ten (10) days after Landlord's request. Landlord
may give any
such
statement by Tenant to any prospective purchaser or encumbrancer of the
Property. Such
purchaser or encumbrancer may rely conclusively upon such statement as true
and
correct.
ARTICLE
TWELVE: LEGAL
COSTS
Section
12.01 Legal
Proceedings.
If
Tenant or Landlord shall be in breach or default
under this Lease, such party (the "Defaulting Party") shall reimburse the other
party (the
"Non-defaulting Party") upon demand for any costs or expenses that the
Non-defaulting Party
reasonably incurs in connection with any breach or default of the Defaulting
Party under this Lease, whether or not suit is commenced or judgment entered.
Such costs shall include
actual legal fees and costs incurred for the negotiation of a settlement,
enforcement of
rights
or otherwise. Furthermore, if any action for breach of or to enforce the
provisions
of this Lease is commenced, the court in such action shall award to the party
in
whose
favor a judgment is entered, a reasonable sum as attorneys' fees and costs.
The
losing party
in
such action shall pay such attorneys' fees and costs.
ARTICLE
THIRTEEN: MISCELLANEOUS
PROVISIONS
Section
13.01. Non-Discrimination.
Tenant
promises, and it is a condition to the
continuance of this Lease, that there will be no discrimination against, or
segregation of, any person or group of persons on the basis of race, color,
sex,
creed, national origin or
ancestry in the leasing, subleasing, transferring, occupancy, tenure or use
of
the Property
or any portion thereof.
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
8 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
Section
13.02. Severability.
A
determination by
a
court of competent jurisdiction
that any provision of this Lease or any part thereof is
illegal or unenforceable shall
not
cancel or invalidate the remainder of such provision or
this
Lease, which shall remain
in
full force and effect.
Section
13.03. Interpretation.
The
captions of the Articles or Sections of this Lease
are
to assist the parties in reading this Lease and are not a part of the terms
or
provisions
of this Lease. Whenever required by the context of this Lease, the singular
shall include the plural the plural shall include the singular. The masculine,
feminine and neuter genders
shall each include the other. No provision of this Agreement is to be
interpreted for
or
against either party because that party or that party's legal representative
drafted such
provision.
Section
13.04. Incorporation
of Prior Agreements; Modifications.
This
Lease is the
only
agreement between the parties pertaining to the lease of the Property and no
other agreements
are effective. All amendments to this Lease shall be in writing and signed
by
all parties.
Any other attempted amendment shall be void.
Section
13.05. Notices.
All
notices required or permitted under this Lease shall
be
in writing and shall be personally delivered or sent by certified mail, return
receipt
requested, postage prepaid. Notices to Tenant shall be delivered to the address
specified in Section 1.02 above. Notices to Landlord shall be delivered to
the
address specified
in Section 1.01 above. All notices shall be effective upon delivery. Either
party may
change its notice address upon written notice to the other party.
Section
13.06. Waivers.
All
waivers must be in writing and signed by the waiving
party. Landlord's failure to enforce any provision of this Lease or its
acceptance of rent shall not be a waiver and shall not prevent Landlord from
enforcing that provision or any other provision of this Lease in the
future.
Section
13.07. No
Recordation.
Neither
party shall record this Lease without prior
written consent from the other party. However, either Landlord or Tenant may
require that
a
"Short Form" memorandum of this Lease executed by both parties be recorded.
The
party requiring
such recording shall pay all transfer taxes and recording fees.
Section
13.08. Binding
Effect; Choice of Law.
This
Lease binds and inures to the
benefit of any party who legally acquires any rights or interest in this Lease
from Landlord
or Tenant. However, Landlord shall have no obligation to Tenant's successor
unless the
rights or interests of Tenant's successor are properly acquired in accordance
with the terms
of
this Lease. The laws of the state in which the Property is located shall govern
this
Lease.
Section
13.09. CorporateAuthority;
Partnership Authority.
If
Landlord or Tenant
is
a corporation, each person signing this Lease on behalf of such party represents
and
warrants that he has full authority to do so and that this Lease binds the
corporation. If
Landlord or Tenant is a partnership, each person or entity signing this Lease
for such party
represents and warrants that he or it is a general partner of the partnership,
that he or
it has
full authority to sign for the partnership and that this Lease binds the
partnership
and all general partners of the partnership.
Section
13.10. Execution
of Lease.
This
Lease may be executed in counterparts and,
when
all counterpart documents are executed, the counterparts shall constitute a
single binding
instrument.
Section
13.11. Survival.
All
representations and warranties of Landlord and Tenant
shall survive the termination of this Lease.
Section
13.12. Confidentiality.
The
parties hereto shall keep this Lease and all
documents delivered pursuant to this Lease strictly confidential, except as
necessary for bona
fide
lenders, prospective purchasers, or to governmental entities.
Section
13.13. Right
of First Refusal.
Should
Landlord receive a bonafide offer to
purchase the Property or any portion of the Shopping Center with commercially
reasonable terms
and
conditions that Landlord is willing to accept at any time during the Lease
Term,
Landlord
shall so notify Tenant in writing and provide Tenant with a copy of the offer
or
an appropriate
written description of the offer, and if Tenant do desires, Tenant may elect
to
purchase
the Property or applicable portion of the Shopping Center under the same terms
and conditions as the offer. If Tenant does not notify Landlord of its election
to purchase the Property
or portion of the Shopping Center within ten (10) working days after Tenant's
receipt of Landlord's notice, then Landlord shall have no further obligation
to
sell to Tenant.
If Landlord does not consummate any such sale, or after the consummation of
any
such sale,
then any subsequent offers shall also me subject to this Section
13.13.
Section
13.14. Consent.
All
requests for consent or approval required or permitted
under this Lease shall be made in writing and in reasonable detail and otherwise
in
the
manner required for notices hereunder. No such requests for consent or approval
shall be
unreasonably refused or delayed. Any refusal of any such request for consent
or
approval shall
also be made in writing and otherwise in the manner required for notices
hereunder and shall
identify, in reasonable detail, the reasons for such refusal. Without affecting
the generality
of this Section 13.14, unless otherwise specifically stated in this Lease,
if
any such
request for consent or approval shall not be refused within ten (10) days after
the making thereof, then a second request for consent may then be made, and
if
such second request
for consent or approval shall not be refused within ten (10) days after the
making of such request, then such consent or approval shall be deemed
granted.
Section
13.15. Brokers.
Each of
the parties represents and warrants to the other
that it has dealt with no broker, other than as set forth in Section 1.08,
in
connection
with this Lease, and, insofar as it knows, no other broker or other person
is
entitled to any commission or fee in connection with this Lease. Landlord
represents and warrants to Tenant that Tenant shall have no responsibility
regarding any agreement made between
Landlord and any broker and that Tenant shall have no responsibility for the
payment of
any
commission or fee. Each of the parties hereby indemnifies the other against
any
commission
or fee such indemnifying party may have incurred in connection with this Lease.
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
9 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
Section
13.16. Police
Substation. Tenant
is
aware that a portion of the Shopping
Center is to be used as a police substation. Tenant understands that such use
may not
provide as much commercial traffic to the Shopping Center as a retail or other
commercial use.
Providing that such use does not violate other terms of this Lease, Tenant
hereby consents
to such use in the Shopping Center.
ADDITIONAL
PROVISIONS MAY BE SET FORTH IN A RIDER OR RIDERS ATTACHED HERETO. IF
ADDITIONAL
PROVISIONS ARE TO BE INSERTED, PLEASE CHECK BELOW.
(
) Rider
Attached
IN
WITNESS WHEREOF, Landlord and Tenant have executed this Lease effective as
of
the
date
first written above, and have initialed all Riders which are attached to or
incorporated
by reference in this Lease.
“LANDLORD”:
|
Hawaiian
Gardens Redevelopment Agency,
|
|
A
California Governmental Entity
|
||
By:
|
/s/
Xxxxxx Xxxxx
|
|
Xxxxxx
Xxxxx, Executive Director
|
||
“TENANT”:
|
99c
ONLY STORES
|
|
A
California Corporation
|
||
By:
|
/s/
Xxxx Xxxx
|
|
Xxxx
Xxxx, President
|
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
10 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
[Missing
Graphic Image] pic.jpg
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
11 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
EXHIBIT
"B"
Work
Letter
Details
of
Tenant's
Work
and
Landlord's
Work
[TO
BE
INSERTED AS SET FORTH IN LETTER DATED FEBRUARY 8, 1995]
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
12 of
00
Xxx
Xxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
EXHIBIT
"B"
Work
Letter
A. Tenant's
Work:
Tenant's
work may include the following:
Installing
new floor covering.
Adding,
removing, or altering lighting.
Installing
cardboard baler.
Installing
alarm, phone, and PA systems.
Installing
fixtures, equipment, and inventory.
Demolition
of interior walls.
Building
new partition walls.
Interior
signage.
Modifying
storefront glass.
Installing
automatic door(s).
Installing
window displays.
Modifying,
removing, adding drop ceiling.
Installing
drinking fountain and mop sink.
Neon
lights on front of building.
Interior
patching.
Interior
painting.
Any
other
work deemed reasonably necessary by Tenant for Tenant's use.
B. Landlord's
work:
Landlord's
work shall include the following, which shall be completed prior to
the
Delivery Date:
Landlord
shall deliver the Property to Tenant in broom clean and good
condition, free of environmental hazards and in compliance with law. The major
systems shall be provided in good working order and of sufficient capacity
for
the building and Tenant's use.
These systems shall include, but not be limited to, the roof,
building structure, main electrical (800 Amps), plumbing, HVAC (40 tons), and
sewer service. The building shall also be provided with 2 handicap bathrooms
to
Health Department Codes, The
floor
slab shall be substantially smooth and level for Tenant's installation of vinyl
floor tile. (Tenant shall be responsible
for removing existing floor coverings if Tenant so desires).
Loading
facilities shall be created for Tenant's regular deliveries
via 45 and 48 foot semi-trucks and shall include:
One
10
foot by 12 foot commercial grade roll up door at rear of
building.
Gradually
sloped ramp/driveway from loading door to street.
Loading
zone.
99
¢ Only Stores® #46
|
Initials
_____
|
_____
|
Page
12 of
12
AU
ZONE INVESTMENTS #2 LP
0000
Xxxx Xxxxx Xxxxxxx Xxx.
Xxxxxxxx,
XX 00000
(000)
000-0000 (Office) / (000) 000-0000 (Fax)
April
15,
1998
Xx.
Xxxxx
Xxxxxx Xxxxxxxxxx, Esq.
TROOP
XXXXXXXXX XXXXXXX &
XXXXXX, LLP
00000
Xxxxxxxx Xxxxxxxxx, Xxxxx Xxxxx
Xxx
Xxxxxxx, Xxxxxxxxxx 00000
VIA
FAX @
U.S. MAIL
RE: |
99¢
Only Stores
#46
|
00000
Xxxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, XX
Lease
Assignment
Dear
Linda:
Enclosed
please find the following:
1) |
Grant
Deed recorded March 21, 1997 whereby The Hawaiian Gardens Redevelopment
Agency granted the Hawaiian
Gardens shopping center to Au Zone Investments #2,
L.P.
|
2) |
Assignment
of Leases dated March 5, 1997 from Hawaiian Gardens Redevelopment
Agency
assigned all leases
for the shopping center to Au Zone Investments #2,
L.P.
|
3) |
Letter
dated March 21, 1997 from Hawaiian Gardens Redevelopment Agency confirming
sale and assignment.
|
We
have
searched our files, and the above are the best confirmation of the assignment
that we have found. I understand
that this copy of the assignment is not executed by Au Zone Investments #2,
L.P.
However, I believe
that this assignment (or one very similar thereto) was executed by Au Zone
Investments #2, L.P. The enclosed
Grant Deed and letter from the seller should hopefully (along with the
assignment) provide you with all
the
needed information.
Please
contact me with any questions at my direct line (000) 000-0000.
Sincerely,
Au
Xxxx
Xxxxxxxxxxx #0, X.X.
/s/Xxxx
Xxxx
Xxxx
Xxxx
[Missing
Graphic Image] deed.jpg
Exhibit
"A"
PARCEL
A:
PARCELS
2
TO 0 XX XXXXXX XXX XX. 00000, XX THE CITY OF HAWAIIAN GARDENS, AS PER MAP
FILED
IN
BOOK 225 PAGES 80 TO 82 INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY
RECORDER
OF SAID COUNTY.
EXCEPT
FROM THAT PORTION WITHIN THE WEST HALF OF THE SOUTHEAST QUARTER OF THE
XXXXXXXXX
XXXXXXX XX XXXXXXX 0, XXXXXXXX 0 XXXXX, XXXXX 11 WEST, SAN BERNARDINO
MERIDIAN,
ONE-SIXTH (1/6TH) OF ALL OIL, GAS, ASPHALTUM AND OTHER HYDROCARBON SUBSTANCES
IN AND UNDER SAID LAND, AS RESERVED IN THE DEED FROM THE BANK OF AMERICA
NATIONAL TRUST AND SAVINGS ASSOCIATION, RECORDED JANUARY 27, 1938 IN BOOK 15545
PAGE 202 OFFICIAL RECORDS.
ALSO
EXCEPT ONE-THIRD OF ALL OIL AND MINERAL RIGHTS AS RESERVED BY ABRAM VAN AALST
AND
XXXXX
X. VAN AALST. IN DEED DATED MARCH 6, 1947 AND RECORDED IN BOOK 24416 PAGE
146
OFFICIAL RECORDS, IN AND TO THAT PORTION OF THE SOUTHEAST QUARTER OF THE
SOUTHWEST
QUARTER OF SECTION 7, TOWNSHIP 4 SOUTH, RANGE 11 WEST, IN THE RANCHO LOS
COYOTES,
AS PER MAP RECORDED IN BOOK 7425 PAGES 20 AND 21 OF OFFICIAL RECORDS,
DESCRIBED
AS FOLLOWS:
BEGINNING
AT THE INTERSECTION OF THE NORTHERLY LINE OF XXXXXX STREET, 100 FEET WIDE
AS
SHOWN
ON COUNTY SURVEYOR'S MAP NO. B-1259 ON FILE IN THE OFFICE OF THE COUNTY
SURVEYOR
OF SAID COUNTY, WITH THE WESTERLY LINE OF TRACT 5206, AS PER MAP RECORDED
IN
BOOK
100 PAGE 27 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY;
THENCE
ALONG SAID NORTHERLY LINE OF XXXXXX STREET, SOUTH 89° 54'
37"
WEST
88.00 FEET TO
THE
TRUE POINT OF BEGINNING; THENCE NORTH 00° 15' 20" WEST 170.00 FEET; THENCE
SOUTH
89°
54' 37" WEST 64.00 FEET; THENCE SOUTH 00" 15' 20" EAST 170.00 FEET TO SAID
NORTHERLY
LINE OF XXXXXX STREET; THENCE NORTH 89 54' 37" EAST 64.00 FEET TO THE TRUE
POINT
OF
BEGINNING.
PARCEL
B:
NON-EXCLUSIVE
EASEMENTS FOR (I) ACCESS, INGRESS AND EGRESS, BY PEDESTRIAN AND VEHICULAR
TRAFFIC, TO, FROM AND BETWEEN PARCEL A AND ANY PUBLIC OR PRIVATE THOROUGHFARES
ADJACENT TO PARCEL B, OVER AND UPON THE PARKING AREAS, SIDEWALKS, WALKWAYS
AND ROADWAYS, INCLUDING ALL INTERIOR CIRCULATION ROADWAYS, IF ANY, CONSTITUTING
PARCEL B AND (II) TO PARK AUTOMOBILE AND OTHER VEHICLES IN AND ON ALL
SPACE
LOCATED ON PARCEL B DESIGNATED TO ACCOMMODATE THE PARKING OF AUTOMOBILES
AND
OTHER
VEHICLES SET FORTH AND DEFINED IN A DOCUMENT ENTITLED 'RECIPROCAL EASEMENT
AGREEMENT AND COVENANTS,' RECORDED ON JANUARY 22, 1988 AS INSTRUMENT NO.
88-91994, OVER THOSE PORTIONS OF LAND THEREIN DESCRIBED AND AS AMENDED BY
"AMENDMENT
NO. 1 TO RECIPROCAL EASEMENT AGREEMENT AND COVENANTS, RECORDED ON MAY
16,
1988 AS INSTRUMENT NO. 88-780511, AND AS AMENDED BY 'AMENDMENT NO. 2 TO
RECIPROCAL EASEMENT AGREEMENT AND COVENANTS' RECORDED ON JANUARY 24, 1989 AS
INSTRUMENT
NO. 89-120197.
97
435339
ASSIGNMENT
OF LEASES
THIS ASSIGNMENT
OF LEASES ("Assignment") is made as of March
5,
1997, by and between The Hawaiian Gardens Redevelopment Agency
("Assignor")/ and Au Zone Investments #2, L.P., a California limited
partnership ("Assignee").
R
E C I T A
L S:
A.
Concurrently
with the delivery of this Assignment, Assignor
has conveyed to Assignee and Assignee has acquired from Assignor
a fee simple estate in and to certain real property located
in Orange, California, more particularly described in Exhibit
"A"
attached
hereto (the "Real Property") pursuant to that certain
Purchase and Sale Agreement and Escrow Instructions dated January
2,
1997
(the
"Purchase Agreement").
B. Pursuant
to the Purchase Agreement, Assignor is to assign to
Assignee and Assignee is to assume certain rights and obligations
under those certain leases affecting the Property as amended
or modified (collectively, the "Leases"), which Leases are more particularly
described in Exhibit
"B"
attached
hereto and incorporated
herein by this reference.
NOW,
THEREFORE, Assignor and Assignee
agree as follows:
ARTICLE
I
ASSIGNMENT
OF LEASES
1.1 Assignment.
Assignor
hereby assigns to Assignee all of Assignor's
right, title and interest in and to all Leases affecting the
Property as of the Effective Date (hereafter defined).
1.2 Assumption.
Assignee
hereby accepts the foregoing assignment,
assumes the Leases for the benefit of Assignor and the lessees
thereunder, and agrees to timely keep, perform and discharge
all of the obligations of the lessor under the Leases that
accrue from and after the Effective Date hereof.
1.3 Indemnification.
Assignee
shall indemnify and defend Assignor
against and hold Assignor harmless from all claims arising out
of
any failure of Assignee to so keep, perform and discharge all
of
the obligations of the lessor under the Leases that accrue from
and
after the Effective Date. Assignor shall indemnify and defend
Assignee against and hold Assignee harmless from all claims arising
out of any failure of Assignor to so keep, perform and discharge
all of the obligations of the lessor under the Leases that
accrue prior to the Effective Date.
Page
1 of 2
1.4 Effective
Date. The "Effective Dace" of this Assignment shall
be
the date that Assignee acquires the Real Property.
1.5 Consistency
with Purchase Agreement.
Nothing
in this Assignment
shall be construed to modify or limit any provisions of the
Purchase Agreement and in the event of any inconsistency between
this Assignment and the Purchase Agreement, the Purchase Agreement
shall control.
ARTICLE
II
MISCELLANEOUS
2.1 Attorneys'
Fees.
In the
event of any litigation arising out
of
the subject matter of this Assignment, the prevailing party shall
be
entitled to reasonable attorneys' fees and costs.
2.2 Inurement.
This
Assignment shall inure to the benefit of Assignor
and Assignee, and their respective heirs, assigns and successors
in interest.
2.3 Governing
.Law.
This
Assignment shall be governed by and construed
in accordance with the laws of the State of California.
IN
WITNESS WHEREOF, the parties have executed this Assignment as
of the
day and year first above written.
The
Hawaiian Gardens Redevelopment Agency
|
|||
By:
|
/s/ Xxxx Xxxxxxx | ||
Xxxx
Xxxxxxx
|
|||
Chairman
of Redevelopment Agency
|
|||
“Assignor”
|
|||
Au
Zone Investments #2, L.P.,
|
|||
a
California limited partnership
|
|||
By:
|
|||
Its:
|
Page
2 of 2
GARDENS
CENTER
RENT ROLL
|
||||||||||||||||
TENANT
NAME/ADDRESS
|
UNIT
|
|
SQ.
FT.
|
|
TERM.
DATE
|
|
RENT/
CAM
|
|
ARREARS
|
|
REMAINING
OPTIONS
|
|
DEPOSIT
|
|
ANNUAL
RENT
|
|
Hawaiian
Gardens PC
|
1-2
|
2,200
|
|
Annual
|
|
$1.00
YR/$0
|
|
-
0
-
|
|
|
|
-
0
-
|
|
$
1
|
||
00000
Xxxxxx Xxxxxx
|
3
|
|
1,010
|
|
|
|
||||||||||
KAY'S
BEAUTY SALON 00000
Xxxxxx Xxxxxx
|
4
|
696
|
|
12/5/99
|
|
$1,100/$0
|
|
-
0
-
|
|
|
|
$2,288
|
|
$
13,200
|
||
Rental
Commencement - Expected
Date
- May 30,
1997
|
$3,700
|
|||||||||||||||
NEW
LAUNDROMAT
|
5
|
1,120
|
|
|
|
CAM
$840.00/mo (estimated)
|
|
(1)
5 YR
|
|
1st
yr
|
|
$
30,750
|
||||
|
6
|
1,120
|
|
|
|
|||||||||||
12111,
13, 15
|
7
|
1,l20
|
|
2007
|
|
|
|
|
|
|
|
2nd
yr
|
|
$
42,222
|
||
Xxxxxx
Street
|
|
|
|
|
|
|||||||||||
Pending
execution
- Months
1 thru 9 = $2,278/nc
- Months 10 thru
12 = $3,416/mo
|
||||||||||||||||
TROPICAL
FISH 12117,
00 Xxxxxx Xxxxxx
|
8-9
|
2,240
|
|
12/31/99
|
|
$2,130
|
|
|
|
(1)
5 YR
|
|
$2,376
|
|
$25,200
|
||
XX.
XXX'X CLINIC 00000
Xxxxxx Xxxxxx
|
10
|
|
1,120
|
|
9/30/98
|
|
$1,411/$304
|
|
-
0
-
|
|
|
|
$1,344
|
|
$
16,932
|
|
Thru
March 1997
|
||||||||||||||||
99
CENT ONLY STORE
|
11
|
|
3,620
|
|
N/A
|
|
$9,000/$0
|
|
-
0
-
|
|
(1)
5 YR
|
|
$
0
|
|
$108,000
|
|
12123,
00 Xxxxxx Xxxxxx
|
12
|
|
11,673
|
|
N/A
|
|
same
Thru
March 1997
|
|||||||||
HKT
PHARMACY CORP. 00000
Xxxxxx Xxxxxx
|
|
1,120
|
|
1/31/98
|
|
$1,120/$280
|
|
-
0
-
|
|
(1)
2 YR
|
|
$1,300
|
|
$13,440
|
||
|
PROJECTED
OPENING
-
APRIL 97
|
|
||||||||||||||
KOREAN
RESTAURANT 00000
Xxxxxx Xxxxxx
|
*
14
|
|
1,400
|
|
02/14/2002
|
|
$l,540/$210
|
|
-
0
-
|
|
|
|
$1,750
|
|
$
18,480
|
|
|
|
Prorated
Rent
March '97
|
||||||||||||||
VACANT
AND AVAILABLE 00000
Xxxxxx Xxxxxx
|
15
|
|
2,100
|
|
||||||||||||
VACANT
AND AVAILABLE 00000
Xxxxxx Xxxxxx
|
16
|
|
1,400
|
GARDENS
CENTER RENT ROLL
|
||||||||||||||||
TENANT
NAME/ADDRESS
|
|
UNIT
|
|
SQ.
FT.
|
|
TERM.
DATE
|
|
RENT/CAM
|
|
ARREARS
|
|
REMAINING
OPTIONS
|
|
DEPOSIT
|
|
ANNUAL
RENT
|
XX.
XXX DENTAL CLINIC 00000 Xxxxxx Xxxxxx
|
|
17
|
|
1,120
|
|
5/15/98
|
|
$896/$224
|
|
-
0
-
|
|
(1)
10 YR
|
|
$1,120
|
|
$
10,752
|
VACANT
AND AVAILABLE 00000
Xxxxxx Xxxxxx
|
|
18
|
|
1,040
|
|
|
|
$1040/$260
|
(EST.$.25/S.F./MO)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KRAGEN'S
- UNDER
NEGOTIATICN
|
|
|
|
|
|
|
|
|
||
BLOCKBUSTER
VIDEO * 00000
Xxxxxx Xxxxxx
|
|
19
|
|
6,733
|
|
11/14/98
|
|
$11,488/$1,075
|
|
-
0
-
|
|
|
|
$
0
|
|
$137,856
|
|
|
|
|
|
|
KRAGEN’S
- UNDER NEGOTATION
|
|
|
|
|
|
|
|
|
||
BANK
OF AMERICA IE
000 Xxxxxx Xxxxxx
|
|
20
|
|
5,005
|
|
|
|
$-0-/$699
|
|
-
0
-
|
|
|
|
$
0
|
|
$
|
|
|
|
|
|
|
|
|
Thru
March 1997
|
|
|
|
|
|
|
|
|
EMILIOS
BEVERAGE 00000
Xxxxxx Xxxxxx
|
|
21
|
|
5,624
|
|
5/1/98
|
|
$5,624/$-0-
|
|
-
0
-
|
|
(6)
5 YR
|
|
$ 0
|
|
$
67,488
|
|
|
|
|
|
|
|
|
Thru
March 1997
|
|
|
|
|
|
|
|
|
KENTUCKY
FRIED CHICKEN 00000
Xxxxxx Xxxxxx
|
|
22
|
|
3,100
|
|
11/1/2008
|
|
$3,000/$762
|
|
-
0
-
|
|
(3)
5 YR
|
|
$6,000
|
|
$
36,000
|
|
|
|
|
|
|
|
|
Thru
March 1997
|
|
|
|
|
|
|
|
|
TSR
PAGING 00000
Xxxxxx Xxxxxx
|
|
23
|
|
900
|
|
3/5/99
|
|
$
900/$225
|
|
- 0
-
|
|
(1)
3 YR
|
|
$900
|
|
$
10,800
|
|
|
|
|
|
|
|
|
Thru
March 1597
|
|
|
|
|
|
|
|
|
TAX
CONSULTANT 00000
Xxxxxx Xxxxxx
|
|
24
|
|
788
|
|
1/28/99
|
|
$788/$197
|
|
$2,570
|
|
|
|
$788
|
|
$
9,456
|
ALOHA
SHOE REPAIR 00000
Xxxxxx Xxxxxx
|
|
25
|
|
499
|
|
3/31/99
|
|
$573.85/$124.75
|
|
$1,498.75
|
|
|
|
$873.25
|
|
$
6,885
|
LITTLE
CEASARS PIZZA 00000
Xxxxxx Xxxxxx
|
|
26
|
|
2,200
|
|
1/31/99
|
|
$1,560/$324
|
|
-
0
-
|
|
(1)
5 yr
|
|
$ 0
|
|
$
18,720
|
|
|
|
|
|
|
|
|
Thru
March 1997
|
*
New
Business , prorat J
Lease
in Negotiationed month
#
Lease in Negotiation
[Missing
Graphic Image] city.jpg
March
21,
1997
99
Cent
Only Store
00000
X.
Xxxxxx
Xxxxxxxx
Xxxxxxx, XX 00000
RE:
|
NEW
OWNERSHIP FOR THE GARDEN
CENTER
|
RELATIVE
TO 12101 - 00000 X. XXXXXX XXXXXX XXXXXXXX
XXXXXXX, XXXXXXXXXX
99
Cent
Only Store:
As
you
know, the Hawaiian Gardens Community Redevelopment Agency
has been in Escrow with the Gardens Shopping Center and
this
letter is to inform you the sale has been completed
as of today. Therefore, beginning immediately, please
forward all leasehold correspondence and your rental
payments to:
AU
ZONE
INVESTMENTS #2, L.P.
C/0
XXX
& ASSOCIATES
000
XXXXXXX XX., XXXXX 000
XXXXXXXX,
XXXXXXXXXX 00000
ATTN:
PRYCILLA
Representatives
from AU Zone Investments #2, L.P. will be in
contact with you soon to introduce themselves personally.
We are sure they are looking forward to a positive relationship; and we
appreciate your patience during
this transition.
Sincerely,
/s/
Xxxxxxx Xxxxxxx
Executive
Director
LC:nl
AU
ZONE INVESTMENTS #2 LP
0000
Xxxx Xxxxx Xxxxxxx Xxxxxx
Xxxxxxxx,
XX 00000
(000)000-0000
(Office)
(000)000-0000
(Fax)
FAX
TRANSMITTAL SHEET
Date:
|
4-15-98
|
TO:
|
/s/
Xxxxx X. Michaeleon
|
||
COMPANY:
|
Troop
Xxxxxxxxx, ...
|
FAX
NUMBER:
|
(000)
000-0000
|
||
FROM:
|
/s/
Xxxx Xxxx
|
PHONE:
|
(000)
000-0000
|
||
NUMBER
OF PAGES
|
8
|
(excluding this sheet) |
X
|
ORIGINAL
TO FOLLOW BY MAIL
|
ORIGINAL
WILL NOT FOLLOW
|
This
message is intended only for the use of the individual or entity to which it
is
addressed and may contain information
that is privileged, confidential and exempt from disclosure under applicable
law. If the reader of this message
is not the intended recipient or the employee or agent responsible for
delivering the message to the intended recipient,
you are hereby notified that any dissemination, distribution or copying of
this
communication is strictly prohibited.
If you have received this communication in error, please notify us immediately
by telephone, and return the
original message to us at the above address via the US Postal Service. Thank
you!
COMMENTS:
SHOULD
YOU HAVE ANY QUESTIONS OR IF YOU DON'T RECEIVE ALL PAGES, PLEASE CONTACT
BY PHONE XXXX XXXXX @ (000) 000-0000 OR
XXXX XXXX @ (213) 000-0000XX
XX
FAX @ (000) 000-0000. THANK
YOU!!!!!!
Missing
Graphic logo.jpg
|
99¢
ONLY
STORES
|
REAL
ESTATE DEPARTMENT
|
|
0000
Xxxxx
Xxxxxxx
Xxxxxx
|
|
Xxxx
xx
Xxxxxxxx,
XX
00000
|
|
Phone
(000)
000-0000
|
|
Fax
(000)
000-0000
|
|
xxx.00xxxx.xxx
|
June
16,
0000
Xxxxxxx
Xxxxxxx Companies
00000
Xxxxxxx
Xxxx., Xxxxx 000
Xxxxxxx,
XX
00000
Attn:
Property 608M
RE:
|
99¢
Only
Stores #46
|
00000
Xxxxxx
Xxxxxxxxx, Xxxxxxxx Xxxxxxx, XX
Option
Exercise
VIA
:
|
Certified,
Return Receipt Requested U.S.
Mail
|
Dear
Landlord:
In
accordance with the terms of the Standard
Multi-Tenant Form Lease dated February 8,
1995
(the
"Lease"):
1)
|
The
Tenant, 99¢
Only
Stores, elects to exercise its second option to extend the Lease
Term
by
five
years, as set forth in Section 2.02
of
the Lease. This "Second Extended Term" shall end on January 31,
2012,
and
may
be
further extended, as set forth in Section 2.02.
|
2)
|
The
Landlord, Au Zone Investments #2
, L.P.,
hereby
acknowledges that the above referenced option has been validly
exercised
and the Lease Terms thereby extended by 5
years.
|
3)
|
The
monthly Base Rent as set forth in Section 1.09
(a)
shall increase as set forth in Section 3.03.
|
4)
|
Except
as
set
forth above, the Lease shall remain unmodified and in
full
force and
effect.
|
Please
acknowledge your agreement to the
above
by
signing in the space provided below. 99
Thanks
you for your cooperation. We look forward to
continuing
our good relationship with you for many
years
to
come.
Sincerely,
|
Read
and Agreed
By:
|
/s/ Xxxxx Xxxxxxxx | |
Xxxxx
Xxxxxxxx
|
|
Vice
President
Property Development
|
|
99¢
Only
Stores
|
|
Its
|
"What
the
newcomers
are
just
learning,
99¢
ONLY
STORES ®
has
been
perfecting
for
over
20
years!"