Common Contracts
1 similar null contracts
EQUATORIAL REALTY DEVELOPMENT, INC. & CARMELO & BAUERMANN, INC vs. MAYFAIR THEATER, INC.July 5th, 2014
Carmelo & Bauermann Inc. owned a parcel of land covered by a TCT, with two 2-storey buildings constructed thereon. He leased a portion of the second floor to Mayfair for a term of 20 years. Mayfair thereafter constructed on the leased property a movie house known as „Maxim Theatre.‟ Another portion of the second floor and the mezzanine was subsequently leased to Mayfair as well. Miramar Theatre was put up on that other portion. The lease contract also provided that should Carmelo desire to sell the property, Mayfair shall be given 30-days exclusive option to purchase it. And if it is sold to someone else, Carmelo shall stipulate in the Deed of Sale that the purchaser shall recognize the lease.
