Agenda - 11-18-1986 - Laserfiche WebLink

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The owner for the ere being of the leasehold estate created by this Lean.whither it be the anginal inane.of any assignee under a old aseip es,and if at any tent more than one mdiwdaal or firm cornpnaes Terms.such work the eras such a dtvitab end forms,jesdy and severally. Intl LANDLORD: The outer for the tyre being d the Demised Premises,whether it be Ow aired Latelord or any waccesrora*tide, and d anti cite more than one individual a fart comprises Lambed,such owed Mall mean such i dwiduals and Gems,Ws*and seventy. AMMO O - PREI4SES AND TERM 2.01 PraMse .Subject to the tenets and caelltictshereof,Lambed does demise unto said tenant endless*doss take from Latdord for the hiss term the Demised Premises,together with n eotsabh rights of scam.ingress and egress,and dolts so joie used fetch perking anew driveway.,sidewalks and other common areas as Landlord shall provide from tints to time,whirhrialtts.halbs r toners=with Landord and otter claiming wider Landlord and shat be to UM such era only for the purposes designated by Liid rd.Landord hereby reaeeves the right at any tine to make alterations or adtfitions to and to bard addtional stores on the bulking in which the Demised Provisos are contained and lo build+efoining the sane.Landlord also reserves the tight to construct othn buldngt or ienpnthemei s it the ShnppigCentee of wliClh the Demised Premises are a part from time to tine and to make alterations thereof or adtfitions thereon and to dery ofah area d such budding or braidegs and to bad adieining the same and to construct double decks or elevated parking facieier. 2.02 TERM OF LEASE. The please'lien'or"Lease Term',as used in this lease.shad be the initial teen of this Leass and renewal item of this lease. ARTICLE l RENTAL y + 3A1 ANNUAL/ANNUM RENT: RENTAL steal on the&e day of the law and each annual anniversary date thereafter pay to Landlord at such tie as Lansford slip designate ys wnring from tine to tine,the antral nt+kie tan rent.Nonvidtssandeg the above.i die taunt is not n default under the tams of the Lease.the tenant may par the a awal mivasses dart a equal monthly irutalments.on the In t dry of a candor moth.then the annual minimum rent for such mash dial bs prorated upon a daily bash and shad be payable upon the date of c cupancy.d ei any tune dui*the lase berm the tenant is is default under any tenths of this lease.the Landed shall have the right to accelerate the payment of the Annual Atermsn Rent that is or would be due daring the lease teen and to demand.coded and receive horn the tenant the Annual Miranu m Rem that r or vivid be due dazing the lease tern The tenant rho'pay to the Landlord the reraaire erg balance of the Annual Minin.un Rent that is or would be due during the lease term aid+im ten(10)days d the date during of denhaad for saute from the Landlord. 3.02 PERCENTAGE RENTAL fah addition is tae annual h6nimhgn Rental hereinabove specified.with respect to any leave year during the lease term in which Tenant's Gnus.Sales std exceed the stun of_,N/A _ I• ) (hereinafter referred to as the'merman basis d Wee),Tenon steal pay to Landed as addtional rental an amount equal to the Percentage Rental.Percentage Rental shat be paid an or before the hvenne rat(21st)day following the end of each lease year.For the purposes d this lease,a"lease year shad be each suctetaiv*pesfod of twelve(12)comesvthe calendar months from the last day of the month in wink*the lease teem shall commence.Seim or arty period Receding the first lease year shad be ded in Gnoo Sales worded for the first loseyear. Tenant shag.on or before the twetty.hst(21s)day blowing the end of each haw year or low period'delver to Landord a statement shorn to be Tenant or(i Town is a corporation)by Tenant's chef fewtcial office.certifying the true mecum d Gross Sales pod such lease year or lesser period".The term lesser period',as used hewn.shad be any period begi uslg on the Gust(1st)day of any lease year and endng,by reason of the terminator of trs Lease.prior to the end of such lease year.In the event that a period of more or less than twekke(12) months shall be so required to be icitadsd in any such statemem then the mwtamun basis of sales shall be proportionately increased or decreased as the case may be.Cancstrendy aids the defrvery of such statement,Tenant will pay ao Landlord the annum of Percentage Rental thew*thereon ro be due.In the evert Tenant sublets any space or any department.Landlord or its repeeserwtives shall/Aso be furnished such statement from subtenants or departments. Landaerd or its duly authorised representative may.on regular business days and within reasonable office hours.inspect teiwu's records of gross sales either at the Denrud Premature elsewhere as desicroced by Tercet,provided such inspection is made tines twelve(12)meths after a statement of sales a furnished Lusdord by Tema and I knitted to the pared cowered by such statement.Sad mord.shat be kept is accordance with generally accepted accounting enmities.Aey claim by Larudord for revision of any stunner*of sales or for Percentage Rental must be made in writing to Tenant within twelve(12)menthe after the date such Statement of sales is mailed to Landrxd(otherwise it shat be deemed saved ty Landlord).d Lardoeds audt shall autos(a deficiency in Percentage Rectal paid for any base yew,Tetai shall prosody pay such deficiencies together with interest at the rated ten(iO'.f perms Per amens%if such deficiency is five IS%)percent of more,Tenant shall provenly pay to Landlord,et addition to the amount stated above.the cord f such au*.The Ionian:ing by Taut of any grossly inaccurate statement shat constitute a default wrier tin Lease and shall entitle Landlord,iumedlatdy and without notice to mere*any or al of the remedies set forth in Mick iX herein_Landlord wad hold in confidence all idorm+aoon obtained from Tenant's records except a any proceeding*cot action to collect the cost of such auto defruncy or with respect to a sale,monomer or leaseback of the shagging center of which the Demised Premises are a pan. 3.03 SECURITY DEPOSIT: • Truant has deposited with Landord the pan of One Thousand . leu.d n — t DOLLARS(c I n n n n t. Said deposit shall be And by Land)ord without labiity for interest.as security foe the faithful performance by Tenant of all the womb(the Lease.R any of the net herein reserved or any other charge payable by Tenant to Lan3xd Mel be overdue and unpaid or should Landord make payments on behalf of the Tenant.or if Tenant should lei to perform any of the terms of this Lease.then Landlord may.atlantic()and eithota prejudice to any otter remedy wfticth Landlord may have on account thereof.appropriate and apply said woke depot or so much thereof ate may be necessary to contperwte Lamdoed toward the payment of rev.addkional dune or roes or dteage sustained by Landaed due to such breach on the pan*Crown and Tenant shell kuthwith upon demand restore sad security to the origral sum depomted.$hank! Tenant comply with al of std teens aid Prcentsde pay al of the rent as it lads that and al other charges payable by Tenure to Landlord,said deyo■it shad be retuned in hid to Term at due end of the term.le the event of banlauptey or other credit-debtor placed:19s against Tenant. +l aecunewi shad be droned to be applied flex to the Minna of rem and other charges this Laniard for al periods parsor to the liiing of such proceedings.. Landords mortgagee win no be liable for security deposits unless it actually receives them. 2