EXHIBIT 10.57
LEASE AGREEMENT
This Lease Agreement, made this 8th day of July, by and between Executive
Park Partnership, 300 Executive Park Building, 000 Xxxxxxxxx Xxxxx, Xxxxxx Xxxx,
Xxxxxxxx 00000, hereinafter referred to as "Lessor," and Pharmacy Associates,
Inc., hereinafter referred to as "Lessee".
WITNESSETH:
1. Office Space and Term. Lessor, in consideration of the rentals to be
paid and of the covenants, conditions, and agreements to be kept and performed
by Lessee, hereby leases to the Lessee, and Lessee hereby leases from Lessor,
that certain space ("Office Space"), in Executive Park Building ("Building"),
000 Xxxxxxxxx Xxxxx, Xxxxxx Xxxx, Xxxxxxxx, which Office Space consists of
approximately 1,435 rentable square feet of area, as outlined in red on the
attached Exhibit A.
Unless sooner terminated by the terms of this Lease, the Term of this Lease
shall commence on the first day of July, 1999 ("Starting Date"), and end at
midnight on the 30th day of April, 2002 ("Ending Date"). If, for any reason,
other than acts or omissions by Lessee or its agents, Lessor cannot deliver
possession of the Office Space to Lessee on or before the Starting Date, then
there shall be an abatement of rent for the period after the Starting Date that
the Lessor is unable to deliver possession, and the Ending Date shall be
extended for an identical period, its being the parties' intent that this Lease
have a complete Term of thirty-four (34) months.
2. Rent. Lessee agrees to pay to Lessor as annual rental without
deductions, set-off, prior notice, or demand, the sum of $20,951.00 ("Rent"),
payable in equal monthly installments of $1,745.92. The first monthly
installment of Rent shall be due in advance on or before the first full calendar
month of the Term, with future payments due on or before the first day of each
month thereafter during the Term, subject to any adjustments in this Lease. In
the event that the Starting Date is on any day other than the first day of a
calendar month, then the first monthly installment of Rent shall include the
prorated Rent for the first partial month. Rent and all other sums payable by
Lessee to Lessor under this Lease shall be paid to Lessor, without deduction or
offset, at the following address: Xxxxx Xxxxx & Associates, Inc., 000 Xxxxxxxxx
Xxxxx, Xxxxx 000, Xxxxxx Xxxx, Xxxxxxxx 00000, or at such other place as Lessor
may later specify in writing.
The Rent shall be increased annually, on each anniversary of the Starting
Date, by an amount equal to four percent of the Rent in effect for the
immediately preceding 12-month period as follows:
Annual Rent Monthly Rent
July 1, 1999 - April 30, 2000 $20,951.00 $1,745.92
May 1, 2000 - April 30, 2001 $21,789.04 $1,815.75
May 1, 2001 - April 30, 2002 $22,660.60 $1,888.38
a. Additional Rent. Whenever under the Lease any sum of money is
required to be paid by Lessee in addition to the Rent, whether or not such
sum is herein described as "Additional Rent," said sum shall, at Lessor's
option, if not paid when due, be deemed "Additional Rent" and shall be
collectible as such with the next installment of Rent thereafter falling
due.
b. Late Charge. Lessee agrees that a late charge equal to the lesser
of (i) five percent of the late installment of Rent; or (ii) such maximum
percentage as allowed by Arkansas law, will be added to the installment of
Rent then due if payment thereof is not received by Lessor on or before the
tenth day of the month in which it is due. Checks returned for any reason
shall be considered nonpayment of rent, and the late charge shall apply.
3. Use of Office Space. The Office Space shall be used by Lessee as a
business or professional office to include sales (other than the retail sales of
merchandise), service, demonstration, and storage and for no other purposes
without the prior written consent of Lessor. Lessee shall not do or permit to be
done in or about the Office Space, nor keep or permit to be brought or kept
therein which is prohibited by, or which would in any way conflict with, any
law, statute, ordinance, or governmental rule or regulation now in force or
which may later be enacted or promulgated, which will in any way obstruct or
interfere with the rights of other tenants in the Building, which will impair
the proper and economic maintenance, operation, or repair of the Office Space or
the Building, or which is prohibited by or will increase the existing premiums
for any fire, casualty, or other insurance policy which Lessor has placed on the
Building or its contents. Lessee further agrees not to cause, maintain, or
permit any nuisance in, on, or about the Office Space or commit or suffer to be
committed any waste in, on, or about the Office Space or Building.
Lessee agrees that, if it uses the Office Space to operate a place of
"public accommodation," as that term is defined in the Americans with
Disabilities Act of 1990, as amended ("ADA"), that Lessee will be responsible
for and shall comply with all requirements of the ADA. If Lessee determines that
architectural barriers must be removed from the Office Space in order for
Lessee's business to comply with the ADA, then Lessee shall by written request
seek Lessor's approval for such alterations. Any such alterations shall be
conducted in accordance with the provisions of Paragraph 9. If Lessee determines
that architectural barriers must be removed from the Building in order for
Lessee's business to comply with the ADA, then Lessee shall promptly notify
Lessor in writing of the requested alterations. Lessor shall not unreasonably
withhold approval of the requested alterations to the Building or Office Space.
Lessee shall, at Lessor's option, bear the sole expense of all barrier removals
necessitated by Lessee's use of the Office Space. Lessor may terminate this
Lease if it determines that the barrier removals necessitated by Lessee's use of
the Office Space will compromise the structural integrity of the building, will
interfere with the occupancy of other tenants in the Building, or are
inconsistent with Lessor's overall plan for the Building or Office Space.
4. Assignment and Subletting. Lessee shall not assign its right of
occupancy under this Lease or any interest therein, or sublet the Office Space,
or any portion thereof, without the prior written consent of Lessor, which the
parties agree may be withheld for any reason. Notwithstanding any approved
assignment or subletting of the Office Space, or any portion thereof, Lessee
shall continue to be liable for the performance of the terms, conditions, and
covenants of this Lease, including, but not limited to, the payment of Rent.
Consent by Lessor to one or more assignments or sublettings shall not constitute
a waiver of Lessor's rights as to any subsequent assignments and sublettings.
5. Access to Premises. Lessor or its authorized agent or agents shall have
the right to enter the Office Space at all reasonable times for the purpose of
inspection, preventing waste, and making such alterations and repairs as Lessor
may consider necessary (but without any obligations to do so, except as
expressly provided herein). Lessor, or its agents, may also enter the Office
Space during the final 120 days of the Term then in effect for the purpose of
showing the Office Space to prospective tenants. If, during the last month of
the Term, Lessee shall have removed all or substantially all of Lessee's
property from the Office Space, and shall no longer be using the Office Space,
Lessor may immediately enter and alter, renovate, redecorate, and lease the
Office Space without elimination or abatement of Rent or incurring any liability
to the Lessee for any offsets of Rent or charges owed, and such acts shall have
no effect upon this Lease.
6. Services. Lessor shall, at Lessor's expense, provide (i) elevator
service, (ii) lighting to the common stairs, entries, and restrooms in the
Building, (iii) toilet room supplies, (iv) janitor service five days a week,
Monday through Friday (except for holidays), (v) water, (vi) sewage, and (vii)
heating and air conditioning service to the Building (collectively hereinafter
call "Services").
Lessor shall select, and may change from time to time, the electric service
provider for the Building. Lessee agrees to comply with any electric service
provider determinations or changes made by Lessor and to provide Lessor, or the
authorized electric service provider, access to Lessee's electric lines,
feeders, risers, wiring, and other machinery in the Office Space, when requested
by Lessor.
Lessor shall not be liable for any damages directly resulting from, nor
shall any Rent be abated by reason of (a) installation, use, or interruption of
use of any equipment in connection with the furnishing of any Services, or (b)
failure to furnish, or delay in furnishing, any Services when such failure or
delay is caused by any condition beyond the reasonable control of Lessor, or (c)
by the making of necessary repairs or improvements to the Office Space or the
Building, or (d) any change, failure, defect, or disruption in the supply or
character of electric service provided in the Building or Office Space. Lessor's
temporary failure to furnish any Services or to provide adequate electric
service to the Building or Office Space shall not be construed as an eviction of
Lessee or relieve Lessee from the duty of observing or performing any of the
provisions of this Lease.
7. Condition of Office Space. The Office Space is leased to Lessee in its
"as-is" condition.
8. Repairs and Maintenance. Except as otherwise provided in this Lease,
Lessor will, at its own cost and expense, make necessary repairs of damage to
the Building corridors, lobby, the Building's exterior walls and structure, the
roof the Building, and to the equipment used to provide the Services. Lessor
shall have exclusive use of the roof. Lessor shall not be liable for any repairs
necessitated by damage caused by acts or omissions of Lessee, its agents,
customers, employees, or invitees, in which event Lessee will bear the cost of
such repairs.
Lessee will maintain the Office Space in good repair. Except as otherwise
provided in this Lease, upon termination of this Lease, Lessee will surrender
and deliver the Office Space to Lessor in the same condition in which it existed
as of the Starting Date, reasonable wear and tear excepted.
9. Alterations and Improvements. Lessee shall not make any alterations,
additions, or improvements to the Office Space without the prior written
approval of the Lessor. Any approved alterations and improvements to the Office
Space shall be made at Lessee's sole expense. Lessee shall not allow the
construction of any approved alterations, additions, or improvements to
interfere with the operation of the Building. Prior to the commencement of any
approved alterations, additions, or improvements, Lessee shall submit to Lessor
copies of all necessary permits. Lessor reserves the right of final approval of
the contractors hired by Lessee. All alterations, additions, and improvements,
whether temporary or permanent in nature, made in or upon the Office Space,
shall be Lessor's property and, upon termination of this Lease, shall remain in
or on the Office Space without compensation to Lessee. If, however, Lessor shall
so request in writing, Lessee will, prior to the termination of this Lease,
remove any and all alterations, additions, and improvements placed or installed
by Lessee in the Office Space and will repair any damage caused by such removal.
All of Lessee's furniture, movable trade fixtures, and equipment not attached to
the Building may be removed by Lessee upon or prior to the termination of this
Lease, if Lessee so elects. If required by Lessor, Lessee shall remove all
furniture, movable trade fixtures, and equipment from the Office Space upon
termination of the Lease. Any furniture, movable trade fixtures, and equipment
not removed upon the termination of this Lease shall, at the option of Lessor,
become the property of Lessor.
10. Indemnity. Lessor shall not be liable for and Lessee will indemnify and
save Lessor harmless of and from any and all fines, suits, claims, demands,
losses, and actions (including attorneys' fees) for any injury to any person or
damage to or loss of property on or about the Office Space or the Building if
caused by the negligence or misconduct or breach of this Lease by Lessee, its
employees, subtenants, invitees, or by any other person entering the Office
Space or the Building under an express or implied invitation of Lessee, or
arising out of Lessee's use of the Office Space. Lessor shall not be liable or
responsible for any loss or damage to any property or death or injury to any
person occasioned by any matter beyond the control of Lessor or for any injury
or damage or inconvenience which may arise through repair or alteration of any
part of the Building, or arise through failure to make repairs, or arise from
any cause whatever, except for "Lessor" gross negligence. Lessee shall, at all
times during the Term, and any extensions thereof, maintain and pay for a policy
of public liability insurance in an amount not less than $500,000, naming Lessor
as an additional insured thereunder. Certificates evidencing such insurance
shall be furnished to Lessor upon request.
11. Damage by Fire or Other Elements. In the event the Building should be
totally destroyed by fire, tornado, or other casualty ("Casualty"), or in the
event the Office Space or building should be so damaged that, in the opinion of
the Lessor, rebuilding and repairs cannot be completed within 90 days after the
date of the Casualty, either Lessor or Lessee, may at its option within 30 days
after the date of the Casualty, terminate this Lease by giving notice to the
other party in writing. In the event the Building or Office Space should be so
damaged by Casualty that, in the opinion of the Lessor, rebuilding and repairs
cannot be completed within 90 days after the date of Casualty, or if the
Casualty should be more serious but neither Lessor nor Lessee elects to
terminate this Lease, then Lessor shall, within 40 days after the date of the
Casualty, commence to rebuild or repair the Building and/or the Office Space and
shall proceed with reasonable diligence to restore the Building and/or the
Office Space to substantially the same condition in which it was immediately
prior to the happening of the Casualty, except that Lessor shall not be required
to rebuild, repair, or replace any part of the furniture, equipment, fixtures,
and other improvements which may have been placed by Lessee or other tenants
within the Building or Office Space. Unless such Casualty is the result of the
negligence or willful misconduct of Lessee or Lessee's employees or invitees,
Lessor shall xxxxx Lessee's Rent in its entirety during the time that the Office
Space is unfit for occupancy, as determined by the Lessor. In the event that any
mortgage on the Building should require that the insurance proceeds received as
a result of the Casualty to be used to retire the mortgage debt, then Lessor
shall have no obligation to rebuild, and this Lease shall terminate upon
Lessor's notice to Lessee.
12. Building Rules and Regulations. Lessee shall at all times observe and
comply with the Rules and Regulations printed on or annexed to this Lease as
Exhibit B and all reasonable modifications of and additions thereto from time to
time put into effect by Lessor. Such Rules and Regulations, including any
modifications or amendments thereto, are incorporated in this Lease as if fully
set forth herein. Lessor shall not be responsible to Lessee for the
non-performance of any of said Rules and Regulations by any other tenants or
occupants of the Building.
13. Eminent Domain. If the whole or any portion of the Building shall be
taken for any public or quasi-public use under any statute or by right of
eminent domain or private purchase in lieu thereof, then, Lessor or Lessee, at
its option, may, within 30 days after receiving notice of such condemnation or
taking, terminate this Lease by written notice to the other party. Lessee shall
not be entitled to any part of any award made for such condemnation or other
taking or the purchase price thereof made to Lessor.
14. Signs and Advertising. No signs, placard, lettering, advertising
material, or other notice of any kind shall be displayed or placed on or so that
it is visible from the exterior of the Office Space or the Building without the
prior written approval of Lessor. Upon termination of this Lease, Lessee will
remove any sign, advertisement or notice painted on or affixed to the leased
premises, and restore the place it occupied to the condition which existed as of
the date this Lease takes effect.
15. Default. Upon the happening or at any time after the happening of any
one or more of the following events ("Event of Default"), Lessor, at its
election, may declare Lessee to be in default under this Lease: (i) Lessee's
failure to pay the Rent, Additional Rent, or any other sums due under this Lease
for a period of 15 days after written notice by Lessor; (ii) Lessee's failure to
observe, keep, or perform any of the terms, covenants, agreements, or conditions
of this lease or in the Building Rules and Regulations for a period of ten
business days after written notice by Lessor; (iii) Lessee's vacating or
abandoning the Office Space or attempting to mortgage or pledge its interest
hereunder; (iv) Lessee's interest under this Lease being sold under execution or
other legal process; (v) Lessee's interest under this Lease being subject to an
unauthorized attempted subletting or assignment; or (vi) any of the goods or
chattels of Lessee used in or incident to the operation of Lessee's business in
the Office Space being seized, sequestered, or impounded by virtue of, or under
authority of, any legal proceeding.
In the event of the happening of an Event of Default, the Lessor, at its
election, may at any time and in any order, exercise any one or more of the
following options:
a. Terminate Lessee's right to possession under the Lease and re-enter
and retake possession of the Office Space and relet or attempt to relet the
Office Space on behalf of Lessee at such rent and under such terms and
conditions as Lessor may deem best under the circumstances for the purpose
of reducing Lessee's liability hereunder. Lessee shall remain liable for
all Rent, Additional Rent, or other sums due under this Lease and for all
damages suffered by Lessor because of Lessee's breach of any of the
covenants of this Lease.
b. Declare this Lease to be terminated and re-enter and re-take
possession of the Office Space, terminating all of the Lessee's right,
title, and interest in and to the Office Space.
c. Accelerate and declare the entire remaining unpaid Rent and
Additional Rent for the balance of this Lease to be immediately due and
payable.
The Lessor's exercise or failure to exercise any one or more of these
options shall not preclude the Lessor's enforcement of any other remedies
otherwise set forth in this Lease or otherwise provided by applicable law.
Lessor may, in addition to any other remedies, enter the Office Space and take
possession of any and all goods, wares, equipment, fixtures, furniture,
improvements, and other personal property of Lessee situated on or in the Office
Space, without liability for trespass or conversion, and sell the same at public
or private sale, with or without having such property at the sale, after giving
Lessee reasonable notice of the time and place of any public sale or of the time
after which any private sale is to be made, at which sale the Lessor or its
assigns may purchase. Unless otherwise provided by law, the requirement of
reasonable notice should be met if such notice is given in the manner prescribed
in Paragraph 22 of this Lease at lease five days before the date of such sale.
The proceeds of any such sale, less any and all expenses connected with the
taking of possession, holding, and selling property (including reasonable
attorneys' fees), shall be applied as a credit against the indebtedness owed by
the Lessee. Any surplus shall be paid to Lessee or as otherwise required by law;
and Lessee shall promptly pay any deficiencies.
No re-entry or re-taking possession of the Office Space by Lessor shall be
construed as an election on its part to terminate this Lease, unless Lessor
gives written notice of such intention to Lessee. Lessor's acceptance of Rent or
Additional Rent following an Event of Default shall not be construed as Lessor's
waiver of such Event of Default. Lessor's failure to enforce any one or more
remedies upon an Event of Default shall not be deemed or construed to constitute
a waiver of any violation or Event of Default.
The parties hereby waive trial by jury in any action, proceeding, or
counterclaim brought by either party on any matters arising out of or in any
connected with this Lease, the relationship of Lessor and Lessee, Lessee's use
or occupancy of the Office Space and/or the Building. The parties agree that any
and all suits for breach of this Lease shall be instituted and maintained only
in those courts of competent jurisdiction located in Little Rock, Pulaski
County, Arkansas.
16. Attorneys' Fees. Lessee agrees to pay all court costs and attorneys'
fees incurred by Lessor in the event that Lessor at any time institutes any
legal action or proceeding to enforce this Lease, or any of the provisions
hereof, or otherwise employs an attorney therefor.
17. Landlord's Lien. In addition to the statutory landlord's lien, Lessor
shall at all times have a valid security interest to secure payment of all Rent,
Additional Rent, and other sums becoming due under this Lease, and to secure
payment of any damages or loss which Lessor may suffer by reason of the breach
by Lessee of any covenant, agreement, or condition contained herein, upon all
goods, wares, equipment, fixtures, furniture, improvements, and other personal
property of Lessee presently or which may later be situated in the Office Space,
and all proceeds therefrom. Lessee agrees to prepare and sign any and all
financing statements and other documents necessary, or requested by Lessor, to
perfect Lessor's security interest in and to such property.
18. Subordination. In consideration of the execution of this Lease by
Lessor, Lessee accepts this Lease, subject to any deeds of trust, mater leases,
security interests, or mortgages, which might now or hereafter constitute a lien
upon the Building or improvements therein or on the Office Space. Lessee also
accepts this Lease subject to any zoning ordinances, building and fire
ordinances, and all government regulations relation to the use of the Building.
Lessee shall, on demand, in the forms prescribed by Lessor, execute any
instrument, estoppel certificates, releases, or other documents that may be
requested or required by any holder of any superior interest for the purpose of
subjecting and subordinating this Lease to the lien of any such deed of trust,
master lease, security interest, mortgage, or superior interest. Lessee hereby
appoints Lessor as its attorney-in-fact, irrevocably, to execute and deliver any
such instrument or document for Lessee should Lessee fail or refuse to do so.
19. Quiet Enjoyment. Provided Lessee has performed all of the terms,
covenants, agreements, and conditions of this Lease, including the payment of
Rent, Additional Rent, and other sums due hereunder, Lessee shall peaceably and
quietly hold and enjoy the Office Space against Lessor and all persons claiming
by, through, or under Lessor, during the Term, subject to the provisions and
conditions of this Lease.
20. Security Deposit. Waived.
21. Mechanics Liens. Lessee agrees that it will not permit or cause any
mechanics lien or liens to be placed upon the Office Space, the Building, or any
improvements thereon.
22. Notices. Any notice or document required or permitted to be delivered
under this Lease shall be deemed to be delivered or given upon the earlier of
when it is (i) actually received or (ii) signed for or "refused" as indicated on
the postal service return receipt. Delivery may be by personal delivery or by
United States Mail, postage prepaid, certified or registered mail, return
receipt requested, addressed to the respective party at its respective address
set out at the end of this Lease or at such other address as the parties may
later specify by written notice delivered in accordance therewith.
23. Separability. If any clause or provision of this Lease is determined to
be illegal, invalid or unenforceable under any present or future applicable
laws, then it is the intention of the parties that the remainder of this Lease
shall not be affected thereby.
24. Holding Over. The failure of Lessee to surrender the Office Space upon
the termination of this Lease, and the subsequent holding-over by Lessee, with
or without the consent of Lessor, shall result in the creation of a tenancy at
will at double the Rent in effect upon the termination. This provision does not
give Lessee any right to hold over after the termination of this Lease and shall
not be deemed to be a renewal of this Lease, either by operation of law or
otherwise.
25. Continuous Occupancy. Lessee will not permit the leased premises to
remain vacant or unused for the purposes for which leased for more than thirty
(30) consecutive days without written consent of the lessor.
26. Rent - A Separate Covenant. Except as otherwise provided in this Lease,
Lessee shall not for any reason withhold or reduce Lessee's required payments of
Rent or other charges provided in this Lease, its being agreed that the
obligations of Lessor hereunder are independent of Lessee's obligations.
27. Joint and Several Liability. If two or more individuals, corporations,
partnerships, or other business associations shall sign this Lease as Lessee,
the ability of each respective individual, corporation, partnership, or other
business entity, and the members thereof, to pay Rent and perform all other
obligations under this Lessee shall be deemed to be joint and several.
28. Corporate Tenancy. If Lessee is a corporation or other business entity,
the undersigned offer of Lessee hereby warrants and certifies to Lessor that
Lessee is in good standing and is authorized to do business in Arkansas. The
undersigned officer of Lessee further warrants and certifies to Lessor that he
or she, as such officer, is, by his or her signature, authorized and empowered
to bind the Lessee to the terms of this Lease.
29. Brokerage Commission. Lessee represents that it has dealt directly with
Xxxxx Xxxxx & Associates, Inc. as broker in connection with this Lease, and that
insofar as Lessee knows, no other broker negotiated or participated in the
negotiation of this Lease or submitted or showed the Office Space or is entitled
to any commission in connection therewith.
30. Amendments. This Lease contains the entire agreement between the
parties and may not be altered, changed, or amended except by instrument in
writing signed by both parties. The terms, provisions, covenants, and conditions
contained in this Lease shall apply to, inure to the benefit of, and be binding
upon the parties, and upon their respective representatives, successors, and
legal assigns, except as otherwise provided herein.
31. Option to Move Lessee. Lessor shall have the right, upon 30 days'
notice to Lessee, to require the removal of Lessee to other premises in the
Building, provided that such other premises shall be substantially equivalent to
or better than the Office Space, that such removal shall take place without
expense to Lessee, and that all terms and conditions of this Lease shall
continue in full force and effect after such removal with regard to the new
premises.
32. Special Stipulations. This items listed below are to be special terms
or conditions for items not covered elsewhere in this Lease:
a. The Office Space is leased as-is.
b. Lessee agrees to abide by the Building Rules and Regulations, a
copy of which is attached, in effect during the term of this Lease.
33. Renewal Option. Lessee shall have the option to renew this Lease for
one additional 36-month period under the same terms and conditions contained in
this Lease, provided, Lessee must notify Lessor in writing of its intention to
renew at least 120 days prior to the expiration of the Term then in effect.
34. Agency Disclosures. The subparagraph(s) selected below shall represent
the agency relationships reflected in this Lease agreement:
a. Lessor Agency. When the Lessee is not represented by a separate
agent, the only agency in effect is that between Lessor and the agent.
b. Lessee Agency. Lessee authorizes the Lessor's agent to pay from the
agent's leasing fee a share deemed competitive by the agent,
to____________________________________________ as agent of the Lessee.
c. Dual Agency. Lessor and Lessee agree that
___________________________________ may represent both parties in this
transaction to lease the leased premises to the Lessee, subject to an
agency agreement or similar representation agreement with the named agent.
Should this situation arise, the Lessor and Lessee agree as follows:
(1) The agent shall not disclose to the Lessee or Lessor any
personal, financial, or other confidential information about the other
party without that party's express written consent. This restriction
excludes information related to material property information which is
known to the agent and other information which must, at the agent's
discretion, be disclosed.
(2) Lessee acknowledges notification that, when the agent
represents both parties, a possible conflict of interest can arise;
and under this Lease, the Lessee and Lessor agree to forfeit their
right to receive the undivided loyalty of the agent, provided that the
Lessee has also agreed, under its agreement with the agent, to forfeit
their right to receive the undivided loyalty of the agent.
(3) Lessee and Lessor agree to waive any claim now or hereafter
arising out of the agent's representing both parties.
35. Fair Housing. Lessor and Lessee agree that equal service will be
provided to all persons regardless of race, color, religion, sex, marital
status, national origin, disability, familial status or age. Additionally,
Lessor and Lessee agree that the agent must comply with all state and federal
laws while performing this agreement.
36. Governing Law. This Lease shall be governed by and construed in
accordance with the laws of the State of Arkansas.
37. Recordation of Lease. This Lease shall not be recorded. A short form or
memorandum of this Lease may be recorded upon request by either Lessor or
Lessee, provided, however, that Lessor shall approve such short form or
memorandum prior to recordation.
THIS IS A LEGALLY BINDING CONTRACT WHEN SIGNED BY THE PARTIES BELOW. READ
IT CAREFULLY. IF YOU DO NOT UNDERSTAND THE EFFECT OF ANY PART, CONSULT YOUR
ATTORNEY BEFORE SIGNING. REAL ESTATE AGENTS CANNOT GIVE LEGAL ADVICE. THE
PARTIES SIGNED BELOW WAIVE THEIR RIGHT TO HAVE AN ATTORNEY DRAFT THIS FORM.
IN WITNESS WHEREOF, the undersigned have hereunto executed this Lease as of
the date first shown above.
EXECUTIVE PARK PARTNERSHIP
By:/s/Xxxxx Xxxxx
Xxxxx Xxxxx & Associates, Inc.
Managing Agent
Address:320 Xxxxxxxxx Xxxxx, Xxxxx 000
Xxxxxx Xxxx, Xxxxxxxx 00000-0000
WITNESS:
/s/Dilmah X. Xxxxx
LESSEE
By:
Name:/s/Xxxx Xxxxxx
Title: President
Address:320 Xxxxxxxxx Xxxxx, Xxxxx 000
Xxxxxx Xxxx, XX 00000
