LEASE AGREEMENT
THIS LEASE AGREEMENT is made at Charleston, South Carolina, on this 7th day
of August, 1996, by and between Xxxxxxxx & Xxxxxx Xxxxxxxx herein after referred
to as "Landlord") and ENVIROMETRICS PRODUCTS COMPANY (hereinafter referred to as
"Tenant").
1. PREMISES:
(a) Landlord does hereby lease to Tenant and Tenant hereby leases from
Landlord that certain space (hereinafter referred to as the "Premises"),
consisting of approximately 3,000 square feet of floor area. The location and
dimensions of said Premises are delineated in red on Exhibit "A", which is
attached hereto and incorporated herein by reference. Said Premises are part of
that certain retail/office complex known as the Oakbrook Center, in the County
of Dorchester City of Summerville, South Carolina (hereinafter said complex is
referred to as "Shopping Center").
(b) This lease is subject to the terms, covenants and conditions herein set
forth, and the Tenant covenants as material part of the consideration for this
lease to keep and perform each and all of said terms, covenants and conditions
by it to be kept and performed.
2. USE OF PREMISES:
(a) Tenant shall use the premises for light assembly.
(b) Tenant agrees that the premises shall be open for business for the
purpose described herein, operating during usual business hours, within one
hundred twenty (120) days of the date of this Lease, or otherwise as shall be
mutually agreed upon by the parties. In the event that Tenant shall not comply
with this sub-paragraph, Landlord shall have the sole option to terminate this
Lease upon five (5) days written notification to Tenant, and thereafter the
parties shall be returned to their original status as if the Lease had never
been executed. In the event that the Landlord shall exercise its option
hereunder, Landlord shall have the right to retain all sums which Tenant has
paid hereunder as liquidated damages, it being agreed by the parties that said
sum is a fair and equitable estimate as to the amount of damages which Landlord
shall suffer as a result of Tenant's breach hereof
3. TERM: This lease shall be for a term of I year commencing August
15, 1996 and ending August 14, 1997.
4. MINIMUM RENT: (a) Tenant agrees to pay Landlord as a minimum Rent,
without notice or demand, the monthly sum of one thousand
dollars($1,000.00)GROSSLEASE($4.OO PER SQ.FT.
Rent is payable on the first (1st) day of each month.
5. CONSIDERATION: Concurrently with the execution of this Lease,
Tenant shall deposit with Landlord a sum equivalent to pro-rata share of
first months rent ( $500) and a security deposit of $ 1,000. 00 shall be
held by Landlord as security for the faithful performance by Tenant of all
the terms, covenants and conditions of this Lease to be kept and performed
by Tenant during the term hereof If Tenant defaults with respect to any
provision of this Lease, including, but not limited to, the provisions
relating to the payment of rent, Landlord may, but shall not be required to
use, apply or retain all or any part of this security deposit for the
payment of any rent or any other sum in default, or for the payment of any
amount which Landlord may spend or become obligated to spend by reason of
Tenant's default, or to compensate Landlord for any other loss or damage
which Landlord may suffer by reason of Tenant's default. If any portion of
said deposit is so used or applied, Tenant shall, within five(5)days after
written demand therefore, deposit cash with Landlord in an amount
sufficient to restore the security deposit to its original amount, and
Tenant's failure to do shall be a default under this Lease.
6. CONDITION OF PREMISES: Tenant shall not make any repairs,
alterations, or additions to Premises or enter into any contract for
repairs, alterations, or additions without first procuring Landlord's
written consent and delivering to Landlord plans and specifications
prepared by licensed architect as well as copies satisfactory to Landlord
of indemnification against liens, costs, damages, and expenses as may be
required by Landlord. At it's own expense tenant shall obtain all requisite
building and other permits before starting any work in or upon the
premises. Tenant shall, in all events, provide Landlord with professionally
prepared drawings bearing the seal of an architect or engineer currently
licensed in and by the State of South Carolina before Tenant, its
representative, agent, or contractor starts any work in or upon the
premises. The aforesaid drawing shall include plumbing, electrical, climate
control, insulation, wall structure, finish, materials and all other
specifications intended to be included in improving and/or completing the
premises. Landlord shall have the right of final approval of any such plans
for improving and/or completing the premises.
7. WASTE, NUISANCE OR UNLAWFUL USE: Tenant shall not commit, or allow
to be committed, any waste on the Premises, create or allow any nuisance to
exist on the Premises, or use or allow the Premises to be used for any
unlawful purpose.
8. PAYMENT OF UTILITIES: Tenant shall pay for and be liable for all
utilities furnished the Premises during the term of this Lease, or any
extension thereof, including, but not limited to, electricity, gas, water
and telephone service. In the event that utilities are not separately
metered, Tenant agrees to pay his proportionate share of such utilities
based upon the formula set forth in paragraph 7 (b) hereof Tenant to pay
all water and sewer, impact fees, and backflow preventor bills assessed on
the unit.
9. REPAIRS AND MAINTENANCE: Tenant shall at it's own expense, maintain
and keep the Premises, including, but not limited to, the windows, doors,
skylights, storefront, HVAC or water heaters, and all interior walls in
good repair. The same shall not be altered, repaired or changed without the
written consent of the Landlord, which shall not be reasonably withheld.
Landlord shall maintain the building roof and all exterior walls in good
condition, subject to the terms of Paragraph 7 hereof All alterations,
improvements and changes that may be done with the consent of the Landlord,
and shall remain upon and be surrendered with the Premises at the
termination of the Lease herein. TENANT'S EXPENSE TO REPAIR OR REPLACE HVAC
SHALL NOT EXCEED $500.00 PER OCCURANCE.
10. DELIVERY, ACCEPTANCE, & SURRENDER OF PREMISES: Landlord represents
that the Premises are in a condition fit for the uses hereinabove
described. Tenant agrees to accept the Premises on possession as being in a
good state of repair and in sanitary condition. At the termination of this
Lease, by the expiration thereof, or otherwise, the Tenant shall deliver up
the Premises to the Landlord, reasonable wear and tear and casualty
excepted. Tenant agrees to pay for all damages to the appurtenances thereto
during the term of this Lease.
11. TOTAL OR PARTIAL DESTRUCTION OF PREMISES: Partial destruction of
the Premises shall not render this Lease void or voidable, or terminate it,
except as herein provided. If the Premise are partially destroyed during
the term of this Lease, Landlord shall repair them when such repairs can be
made in conformity with Local, State and Federal laws and regulations,
within sixty (60) days of the partial destruction. Rent for the Premises
will be reduced proportionately to the extent to which the repair
operations interfere with the normal conduct of the said time limit,
Landlord may, at its option, make them at a reasonable time and continue
this Lease in effect, with proportional rent rebate to he Tenant, as herein
provided. If the repairs cannot be made within the time period allowed, and
Landlord elects not to make them in a reasonable time, either party hereto
has the option to terminate this Lease, in accordance with the termination
provisions herein.
12. LANDLORD'S ENTRY FOR INSPECTION AND MAINTENANCE: Landlord reserves
the right to enter upon the Premises at reasonable times to inspect them,
to perform required maintenance and repair, and to make additions and
alterations to any part of the building of which the Premises is located,
and Tenant agrees to permit Landlord to do the same. Landlord may, in
connection with such alterations, additions, or repairs, erect scaffolding,
fences, and similar structures, post the relevant notices, and place
moveable equipment without any obligation to reduce Tenant's rent for the
Premises during such period, and without incurring liability to Tenant for
disturbance of their quiet enjoyment of the Premises or their loss of
occupation thereof
13. TRADE FIXTURES: Tenant may install and maintain during the term of
this Lease, trade fixtures and other equipment necessary for Tenant's use
of the building, as hereinabove provided; provided that such fixtures, by
reason of the manner in which they are affixed, do not become an integral
part of the Shopping Center or of the Premises herein. Tenant may, if not
in default hereunder, and from time to time during the term hereof, alter
or remove any such trade fixtures so installed by them. Said trade fixtures
or equipment of the Tenant shall be removed at the termination or
expiration of this Lease, by the Tenant in an expeditious manner. Any
damage to the Premises caused by any such installation alteration, or
removal of any such trade fixture or equipment shall be promptly repaired
by the Tenant at their own expense.
14. POSTING OF SIGNS: Landlord reserves the right to place any and all
signs reasonable necessary for the sale of the Shopping Center upon said
Shopping Center during the term of the Lease, provided however, that no
such signs may be posted in the Premises, or to place any and all
reasonable signs on the Premises at any time within ninety (90) days of the
expiration of this Lease, for rental or lease of said Premises.
15. RESTRICTIONS ON POSITION OF SIGNS: Tenant will not construct or
place, or permit to be constructed or placed, any signs awnings, marquees,
or other structures projecting from the exterior of the Premises without
the written consent of the Landlord thereto and subject to all governmental
law or regulations for the posting of said signs. Tenant further agrees to
remove all signs, displays, advertisements, or decoration which they have
placed, or permitted to be placed on the Premises which, in the opinion of
the Landlord are offensive or otherwise objectionable. If Tenant fails to
remove such signs, displays, advertisements, or decorations within sixty
(60) days of receiving written notice from Landlord to do the same,
Landlord reserves the right to enter the Premises and remove the same, at
Tenant's expense.
16. HOLD HARMLESS AND NON-LIABILITY: Landlord shall not be liable for
any loss, damage, or injury, or for any liability or damage claims for
injury to persons, including Tenant, or any officer, agent, employee,
independent contractor, invitee or guest of Tenant, or any other persons
acting at their direction or in concert with them; or for any property
damage form any cause whatsoever related to Tenant's occupancy of the
Premises, including those arising out of damages or losses occurring on
sidewalks or other common areas of the Shopping Center arising out of any
act or negligence of Tenant, or any officer, agent, employee, independent
contractor, guest or invitee of Tenant, as well as any damages resulting
form Tenant's use of the premises during the term of this Lease, or any
extension thereof Tenant hereby agrees to indemnify and hold harmless
Landlord against any and all such claims for damages, including all costs,
attorney's fees and liabilities incurred in the defense of any such claim
or claims. In case any such action is brought against Landlord, or any
officer, agent or employee of Landlord, Tenant agrees to defend Landlord
from any and all such claim or claims made by any persons whatsoever
resulting from or arising out of Tenant's use and occupancy of the Premises
herein, at Tenant's sole expense.
17, ASSIGNMENT OR SUBLEASE: Tenant agrees not to assign or sublease
the premises herein, or any part thereof, without first obtaining the
written consent of the Landlord hereto. Landlord expressly covenants that
such consent shall not be unreasonably or arbitrarily refused. One consent
by the Landlord shall not be a consent to a subsequent assignment,
sublease, or occupation by any other persons. Tenant's unauthorized
assignment, sublease, or license to occupy the Premises herein shall be
void and shall terminate the Lease, at the option of Landlord. Tenant's
interest in this lease is not assignable to operation of law, nor is any
assignment of their interest herein, without the written consent of the
Landlord.
18. DEFAULTS: The occurrences of any of the following shall constitute
a material default and breach of this Lease. (a) The vacation or
abandonment of the Premises herein by Tenant. (b) The failure by Tenant to
pay installment of rent, or to make any other payments required under this
Lease, where such failure continued for a period of ten (IO) days after
written notice thereof by the Landlord to the Tenant. C Failure by Tenant
to observe or perform any of the provisions of this Lease to be observed or
performed by the Tenant, except the Provision concerning the payment of
rent, where such failure continues for a period of thirty (30) days after
written notice thereof by the Landlord to the Tenant; provided, however,
that if the nature of such default is such that the same cannot reasonably
be cured within such thirty (30) day period, Tenant shall not be deemed to
be in default if Tenant shall, within such period, commence such cure, and
thereafter diligently prosecute the same to completion. (d) The making by
Tenant of any general assignment for the benefit of creditors; the filing
be or against Tenant of a petition to have Tenant adjudged a bankrupt, or
of a petition for reorganization or arrangement, under any law relating to
bankruptcy, unless the same is dismissed within ninety (90) days; the
appointment of a trustee or receiver to take possession of substantially
all of Tenant's assets located at the Premises or of Tenant's interest in
this Lease, where possession is not restored to the Tenant within ninety
(90) days; or the attachment, execution, or other judicial seizure of
substantially all of Tenant's assets located on the Premises, or of
Tenant's interest in this Lease, where such seizure is not discharged
within ninety (90) days.
19. LANDLORD'S REMEDIES ON TENANT BREACH: If Tenant shall breach this
Lease, pursuant to the terms of Paragraph 18 above, Landlord shall have the
following remedies, in addition to any other rights or remedies they may
have either by law or otherwise:
(a) Landlord may re-enter the Premises immediately, and remove therefrom
all Tenant's personal property. Landlord may store said property at a public
warehouse at Tenant's expense, or for Tenant's account.
(b) After re-entry, Landlord may terminate the Lease upon giving thirty
(30) days prior written notice of such termination to Tenant. Re-entry only,
without notice of termination, will not terminate this Lease.
(c) After re-entry upon the Premises, Landlord may re-Lease the Premises,
or any part thereof, for any term, without terminating the Lease, upon such rent
and upon such terms and conditions as they may choose. Landlord may make any
alterations and repairs to the Premises that are necessary to the Premises, as
herein provided, Tenant shall be liable for, in addition to any other liability
for breach of this Lease, all expenses incurred to restore unit to its original
condition, which is incurred by the Landlord. In addition, Tenant shall be
liable to Landlord for the difference between rent received by Landlord during
the reorganization or arrangement, under any law relating to period of
re-leasing, and the monthly installment of rent that are due by Tenant during
the term of this Lease.
(d) In the event that Landlord chooses to re-lease the Premises, pursuant
to Subparagraph C above, the Landlord may, at their option, apply any rent
received as a result thereof, in the following manner:
(1) Reduce indebtedness of the Tenant to the Landlord under this
Lease, not including indebtedness for rent;
(2) For expenses of the re-leasing, including any expenses of
alterations and repairs made as a result thereof,
(3) Rental installments due under this Lease;
(4) Payment of any future rent due under this Lease, as it becomes
due.
(e) Landlord may, at any time after such re-leasing, terminate the Lease
for the breach because of which they have re-entered and re-lease the Premises.
Upon terminating this Lease for Tenant's breach hereof, Landlord may recover all
damages proximately resulting from the breach, including the cost of recovering
the Premises, any rental installments not paid by the new Tenant, and the work
for the balance of this Lease over the reasonable rental value of the Premises
will remain during the lease term.
(f) Upon re-entry, Landlord may procure the appointment of a receiver to
take possession of and collect rents and profits from Tenant's business. If
necessary to collect such rents and profits, the receiver may carry on Tenant's
business and take possession of Tenant's personal property used in the business,
including inventory, equipment, trade fixtures, and furnishings, and use them in
the business without compensating the Tenant therefor. Proceedings for
appointment of a receiver, and the conducting by him of Tenant's businesses,
shall not terminate this Lease unless Landlord has given written notice of such
termination, as provided herein.
(g) Tenant hereby waives all claims for damages, which may be caused by
Landlord's re-entry, taking possession of the Premises herein and will save
Landlord harmless from loss, costs or damages occasioned by Landlord thereby.
Any such re-entry or retaking of possession of the premises shall not be
considered or construed to be a forcible entry.
20. PARKING AND COMMON AREAS:
(a) Landlord covenants that an area approximately equal to the common and
parking areas as shown on the attached Exhibit "A" shall be at all times
available for the nonexclusive use of Tenant during the full term of this Lease,
or any extension thereof, provided that the condemnation or other taking by any
public authority, or sale in lieu of condemnation, of any or all of such common
and parking area shall not constitute a violation of this covenant. Landlord
reserves the fight to change the entrances, exits, traffic lanes and the
boundaries and locations of such parking area or areas, provided however, that
anything to the contrary notwithstanding, said parking area or areas shall at
all times be substantially equal or equivalent to that shown on the attached
Exhibit "A".
(b) Landlord shall keep said parking and common areas in a neat, clean and
orderly condition, and shall repair any damage to the facilities thereof, but
all such expenses in connection with said parking and common areas shall be
charged and prorated as addition rent as set forth in Paragraph 7 hereof
(c) Tenant shall, for its use and benefit, and for the use and benefit of
its agents, customers, licensees, and subtenants, have the nonexclusive right in
common with Landlord, and other present and future owners, tenants, and their
agents, customers, licensees and subtenants, to use said common and parking
areas during the entire term of this Lease, or any extension thereof, for
ingress and egress, and automobile parking only.
(d) Tenant shall, in the use of said common and parking areas, comply with
such reasonable rules, regulations and charges for parking as the Landlord may
adopt from time to time of the orderly and proper operation of said common and
parking areas. Such rules may include, but shall not be limited to, the
following:
(1) The prohibition of employee parking in the common area and parking
areas; and
21. MERCHANT'S ASSOCIATION: N/A
22. PERSONAL PROPERTY TAXES: Tenant shall pay before they become delinquent
all taxes and assessments imposed on any personal property or trade fixtures
belonging to Tenant and located on said Premises.
23. ATTORNEY'S FEES: If Landlord shall file an action to enforce any
covenant of this Lease, or for breach of any covenant herein, including any
action for recovery of rent herein, Tenant agrees to pay Landlord the reasonable
sum for accrued from the commencement of such action and shall be paid whether
or not such action is prosecuted to judgment.
24. NOTICE: Notice is given pursuant to the provisions of this Lease, when
necessary to carry out the provisions, shall be in writing, and delivered
personally to the person to whom the notice is to be given, and mailed postage
prepaid, addressed to such person(s). Landlord's address for the purpose of such
notice shall be:
Atlantic International
0000 Xxxxxxxxx Xxxxx
Xxxxx 0-X
Xxxxx Xxxxxxxxxx, XX 00000
or at such other address or addresses as Landlord may designate to Tenant
in writing from time to time.
Tenant's address for the purpose of such notice shall be the Premises
herein, or ENVIROMETRICS PRODUCTS CO., 0000 XXXXXXXXXX XXXX., XXXXXXXXXX, XX
00000
25. HEIRS, SUCCESSORS AND ASSIGNS: This Lease, and the covenant s and
conditions hereof, apply to and are binding upon the heirs, successors, legal
representatives, and assigns of the parties.
26. SALE OF PREMISES BY LANDLORD: In the event of any sale of the Premises
by Landlord, Landlord shall be and is hereby entirely freed and relieved of all
liability under any and all of its covenants and obligations contained in or
derived from this Lease arising out of any act, occurrence or omission occurring
after the consummation of such sale: and the purchase, at such sale or any
subsequent sale of the Premises shall be deemed, without further agreement
between the parties and any such purchaser, to have assumed and agreed to carry
out any and all of the covenants and obligations of the Landlord under this
Lease.
27. LATE CHARGES-. Tenant hereby acknowledges that late payment by Tenant
to Landlord of rent or other sums due hereunder will cause Landlord to incur
costs not contemplated by this Lease, the exact amount of which will be
extremely difficult to ascertain. Such costs include, but are not limited to,
processing and accounting charges, and late charges which may be imposed upon
Landlord by terms of any mortgage or deed of trust covering the Shopping Center.
Accordingly, if any installment of rent or any sum due from Tenant shall not be
received by Landlord, or Landlord's agent, within five (5) days after the due
date set forth herein, then Tenant shall pay to Landlord a late charge in the
amount of ten (100/o) percent of such overdue amount, plus any attomey's fees
and/or costs incurred by Landlord by reason of Tenant's failure to pay rent
and/or other charges when due. The parties hereby agree that such late charges
represent a fair and reasonable estimate of the cost that Landlord will incur by
reason of the late payment by Tenant. Acceptance of such late charges of the
Landlord shall in no event constitute a waiver of Tenant's default with respect
to such overdue amount, nor prevent Landlord from exercising any other rights
and remedies granted hereunder.
28. COMPLETE AGREEMENT: This Lease contains all of the agreements of their
parties hereto with respect to any matter covered or mentioned in this Lease,
and there are not prior agreements or understandings which have not been
incorporated herein. No provision of this Lease may be amended or added to
except by the agreement in writing signed by all the parties hereto or their
respective successors in interest.
29. CHOICE OF LAW: This Lease shall be governed by the Laws of the State of
South Carolina.
30. ATTORNMENT: This Lease may at Landlord's option, be subordinate to any
ground lease, mortgage, deed of trust or other hypothecation or security now or
hereafter placed upon the real property of which the Premises are a part, and to
any and all advances made on a security thereof, and to all renewals,
modifications, consolidations, replacements, and extensions thereof
Notwithstanding such subordination, Tenant's right to quiet possession of the
Premises shall not be disturbed if Tenant is not in default and so long as
Tenant shall pay the rent and observe and perform all of the provisions of this
Lease, unless this Lease is otherwise terminated pursuant to its terms. If any
mortgagee, trustee or ground lessor shall elect to have this Lease prior to the
lien of its mortgage, deed of trust, or ground lease, and shall give written
notice thereof to Tenant, this Lease shall be deemed prior to such mortgage,
deed of trust or ground lease, whether this Lease is dated prior to or
subsequent to the date of said mortgage, deed of trust or ground lease, or the
date of recording thereof Tenant agrees to execute any and all documents
required to effectuate an attornment, a subordination or to make this lease
subsequent to the hen of any mortgage, deed of trust or ground lease, as the
case may be. Tenant's failure to execute such documents within ten (10) days
after written demand by Landlord shall constitute a material default by Tenant
hereunder, or, at Landlord's option, Landlord shall execute such documents on
behalf of Tenant as Tenant's attorney in fact. For that purpose, Tenant does
hereby make, constitute and irrevocable appoint Landlord as Tenant's attorney in
fact and in Tenant's name, place and stead, to execute such documents in
accordance with this paragraph.
3 1. OPTION TO RENEW: (a) Landlord hereby grants to tenant an option to
renew this Lease for ONE additional period(s) ONE years each after the
expiration of the term of this Lease, under the same terms, conditions and
covenants so far as is applicable, as in this Lease, except that any rents
payable for the first Option Period shall be calculated in the same manner as
set forth in Paragraph 4 hereof, except that any percentage limitations on the
increase in rent to be effective during the first and/or second Option Periods
shall be negotiated by the parties at the time any such Option Period takes
effect, and shall be mutually agreed upon by the parties. If Tenant exercises
the options for the first and/or second Option Periods, and if at the
commencement of the second and/or third Option Periods, Landlord and Tenant have
not reached an agreement, despite their best efforts and good faith to do so, as
to the applicable percentage limitations non the increases in the rental to be
paid during such Option Periods, or if there shall then be a dispute between
Landlord and Tenant as to the good faith of the other party to so negotiate,
Tenant shall have the obligation to pay the rental during such Option Periods as
the same would be calculated pursuant to Paragraph 4 hereof, without reference
to any percentage limitations contained therein. In the event percentage
eliminations shall be agreed upon at any time after Tenant shall have exercised
its option for the second and/or third Option Periods, any overpayment or
underpayment by Tenant shall be immediately adjusted.
(b) Each option provided for herein shall be exercised by written notice
form the Tenant to the Landlord setting forth the Tenant's election to exercise
the option, and delivered to the Landlord in person or by registered or
certified mail at least ninety (90) days prior to the expiration of the term of
this Lease, or any prior Option Period.
32. EMINENT DOMAIN: Eminent domain proceedings resulting in the
condemnation of a part of the Premises leased herein, the rest usable by Tenant
for the purpose of the business of which the Premises are leased herein, will
not terminate this Lease unless Landlord, at this option, terminates it by
giving written notice of termination to Tenant. The effect of such condemnation,
should such option not be exercised, will be to terminate the Lease as to the
portion of the premises condemned, and the Lease shall remain in effect as to
the remainder of the Premises. Tenant's rental for the remainder of the Lease
term shall, in such case, be reduced by the amount of the usefulness of the
Premises to him for such business purposes is reduced. AU compensation awarded
in the eminent domain proceedings as the result of such condemnation shall be
the Landlords. Tenant hereby assigns and transfers to Landlord any claim that
they may have for compensation for damages as a result of such condemnation.
33. AUTHORITY OF TENANT: If Tenant is a corporation, each individual
executing this Lease on behalf of said corporation, represents and warrants that
he is duly authorized to exercise and deliver this Lease on behalf of said
corporation, in accordance with the By-Laws of said corporation, and that this
Lease is binding upon said corporation.
34. TENANT'S STATEMENT: Tenant shall, at any time from time to time, upon
not less than ten (10) days prior written notice from Landlord, execute,
acknowledge and deliver to Landlord a statement in writing: (a) Certifying that
this Lease is unmodified and in full force and effect (or, if modified, stating
the nature of such modification and certifying that this Lease as so modified is
in full force and effect), and the date to which the rental and other charges
are paid in advance, if any and (b) Acknowledging that their are not, to
Tenant's knowledge, any incurred defaults on the part of Landlord hereunder, or
specifying such defaults if any are claimed, and Setting forth the date of
commencement of rents and expiration of the term hereof And any such statement
may be relied upon by the prospective purchaser or encumbrancer of all or any
portion of the Shopping Center.
35. INSURANCE REQUIREMENTS: (a) Tenant shall, at Tenant's expense, obtain
and keep in force during the term of this Lease a policy or Bodily Injury and
Property Damage Insurance with a company or companies approved by Landlord
insuring tenant and Landlord against any liability arising out of the use,
occupancy or maintenance of the Premises an all other areas appurtenant thereto.
Such insurance shall be in an amount not less than $1,000,000, combined single
limit. Tenant shall name Landlord as an addition insured, and shall provide
Landlord with a certificate of insurance within thirty (30) days hereof
Notwithstanding anything herein to the contrary, the limits of said insurance
shall not limit the liability of Tenant hereunder.
36. OTHER CONTINGENCIIES:
1. LANDLORD WILL INSTALL NEW 10 TON HVAC UNIT FOR PRENUSES.
2. LANDLORD WELL REPAIR EMSTING ROOF LEAKS AND ALL OTBERS AS
PROVIDED FOR IN LEASE
37. HOLDING OVER: It is expressly understood by all parties that Tenant
shall not be permitted to holdover at the end of the lease term. It is further
understood by all parties that failure to renegotiate or otherwise enter into a
new lease agreement before sixty (60) days from the expiration of this lease
constitutes termination of this lease at the end of the lease period, and as
such, Tenant understands that it shall vacate the demised premises at the exact
end of the lease term. In addition, tenant will pay a 10% surcharge for each
month it is in default.
38. TENANT UP FITTING: Tenant will be allowed to remove partition wall in
rear of building to allow use of roll up door. Tenant may also, if necessary,
remove carpet and finish concrete floor with epoxy paint. 39. TIME: Time is of
the essence in this Lease. 10
IN WITNESS W]HEREOF, the above parties have executed this Lease on the date
first written above.
WITNESS:
AGENT FOR LANDLORD,
WITNESS: TENANT(S):
Xxxxxx Xxxxxxx
President
