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AGREEMENT

Lease Agreement

AGREEMENT
 | Document Parties: MONRO MUFFLER BRAKE INC | 425 Manchester Road L.L.C | Mr. Tire, Inc You are currently viewing:
This Lease Agreement involves

MONRO MUFFLER BRAKE INC | 425 Manchester Road L.L.C | Mr. Tire, Inc

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Title: AGREEMENT
Governing Law: Maryland     Date: 6/10/2004
Industry: Business Services    

AGREEMENT
, Parties: monro muffler brake inc , 425 manchester road l.l.c , mr. tire  inc
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Exhibit 10.81

AGREEMENT

This agreement entered into this 1 st day of April 1998, by and between 425 Manchester Road L.L.C. (hereinafter called “Landlord”) and Mr. Tire, Inc. (hereinafter called “Tenant”).

WITNESSETH:

That for and in consideration of the rents herein reserved and to be paid by tenant to the Landlord and of the covenants and agreements herein set forth to be kept, performed and observed by Tenant, the Landlord does hereby rent, demise and lease to the Tenant and the Tenant does hereby take, lease and hire from the Landlord, upon the terms and conditions hereinafter set forth, land and improvements located at 425 Manchester Road, Westminster, Maryland, (the “Premises”), including specially a certain building located thereon, (the “Building”).

1.

 

Term

The Term of this Lease shall be ten (10) years commencing April 1, 1998 and terminating March 31, 2008, both dates inclusive (the “Term”). Tenant shall have the option of renewing and extending the term of this lease for two(2) successive term of ten (10) years, for the same rental terms and conditions as the original term.

2.

 

Rent

(A) Tenant, in consideration of this Lease, agrees to pay to Landlord, Basic Rent during the Term hereof, the sum of one million one hundred sixty nine thousand three hundred fifteen dollars and 69/100 dollars ($1,169,315.69), all payable without deduction or set off or demand, to be received on or before the first day of each month in accordance with the following schedule:

(i)For the Lease Year April 1, 1998-March 31, 1999, one hundred two thousand dollars and 00/100 dollars ($102,000.00) payable in twelve equal monthly installments of eight thousand five hundred dollars and 00/100 dollars ($8,500.00);

(ii)For the Lease Year April 1, 1999-March 31, 2000, one hundred five thousand sixty dollars and 00/100 dollars ($105,060.00) payable in twelve equal monthly installments of eight thousand seven hundred fifty five dollars and 00/100 dollars ($8,755.00);

(iii)For the Lease Year April 1, 2000-March 31, 2001, one hundred eight thousand two hundred eleven dollars and 80/100 dollars ($108,211.80) payable in twelve equal monthly installments of nine thousand seventeen dollars and 65/100 dollars ($9,017.65);

(iv)For the Lease Year April 1, 2001-March 31, 2002, one hundred eleven thousand four hundred fifty eight dollars and 15/100 dollars ($111,458.15) payable in twelve equal monthly installments of nine thousand two hundred eighty eight dollars and 18/100 dollars ($9,288.18);

(v)For the Lease Year April 1, 2002-March 31, 2003, one hundred fourteen thousand eight hundred one dollars and 90/100 dollars ($114,801.90) payable in twelve equal monthly installments of nine thousand five hundred sixty six dollars and 82/100 dollars ($9,566.82);

(vi)For the Lease Year April 1, 2003-March 31, 2004, one hundred eighteen thousand two hundred forty five dollars and 96/100 dollars ($118,245.96) payable in twelve equal monthly installments of nine thousand eight hundred fifty three dollars and 83/100 dollars ($9,853.83);

(vii)For the Lease Year April 1, 2004-March 31, 2005, one hundred twenty one thousand seven hundred ninety three dollars and 33/100 dollars ($121,793.33) payable in twelve equal monthly installments of ten thousand one hundred forty nine dollars and 44/100 dollars ($10,149.44);

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(viii)For the Lease Year April 1, 2005-March 31, 2006, one hundred twenty five thousand four hundred forty seven dollars and 13/100 dollars ($125,447.13) payable in twelve equal monthly installments of ten thousand four hundred fifty three dollars and 93/100 dollars ($10,453.93);

(ix)For the Lease Year April 1, 2006-March 31, 2007, one hundred twenty nine thousand two hundred ten dollars and 55/100 dollars ($129,210.55) payable in twelve equal monthly installments of ten thousand seven hundred sixty seven dollars and 55/100 dollars ($10,767.55);

(x)For the Lease Year April 1, 2007-March 31, 2008, one hundred thirty three thousand eighty six dollars and 86/100 dollars ($133,086.86) payable in twelve equal monthly installments of eleven thousand ninety dollars and 57/100 dollars ($11,090.57);

In the event that tenant pays Landlord any installments of Basic Rent or Percentage Rent after the due date, or any Additional Rent (as hereinafter defined) later than the (5 th ) day after billing therefore, then and in such event, Tenant shall pay to Landlord, together with and in addition to said installment of Basic Rent or Additional Rent, a late charge of five percent (5%) of installment past due. Any installments of Basic Rent or Additional Rent not made within ten (10) days from the date due shall, in addition to the foregoing late charges, bear interest from the date due at the rate of eighteen percent (18%) per annum (the “Default Rate”). If Landlord, during the Term of this Lease, receives two (2) or more checks from Tenant which are returned for insufficient funds.

Landlord, in addition to applicable late charges and reimbursement for any additional cost incurred by reason of any returned check, may require, at Landlord’s election, that any future payment shall be either bank certified, cashier’s or treasurer’s check. None of the foregoing late charges shall be construed to limit or otherwise waive any other remedies available to Landlord for Tenant’s default under this Lease. Anything contained herein to the contrary notwithstanding, the late charges provided hereunder shall be abated for one violation each Lease Year, provided Tenant cures such late payment within five (5) days after written notice that the same is past due.

(B) Tenant shall tender all payments due hereunder by good check to Landlord c/o The Three Marquees, P.O. Box 428, Savage, Maryland 20763, or to such other party or such other address as Landlord may designate from time to time by written notice to Tenant. If Landlord shall at any time or times accept said Basic Rent or Additional Rent after it shall become due and payable, such acceptance shall not excuse delay upon subsequent occasions, or constitute a waiver of any or all of Landlords rights hereunder.

(C) This Lease is what is commonly called a “triple net lease”, it being understood that Landlord shall receive the rent free and clear of any and all other impositions, taxes, liens, charges, or expenses of any nature whatsoever in connection with the ownership and operation of the Premises. In addition to the Basic Rent, Tenant shall pay to the parties respectively entitled thereto all impositions, insurance premiums, utility charges (including but not limited to gas, fuel, electric, water, sewer, trash removal and telephone charges), operating charges, maintenance charges, construction costs, and any other charges, costs, and expenses which arise or may be contemplated under any provisions of the Lease during the Term hereof. All of such charges, costs, and expenses shall constitute Additional Rent, and upon the failure of Tenant to pay any of such costs, charges or expenses, Landlord shall have the same rights and remedies as otherwise provided in this Lease for the failure of Tenant to pay Basic Rent. For purposes herein contained the term “Rent” shall refer to Basic Rent and Additional Rent. It is the intention of the parties hereto that this Lease shall not be terminable for any reason by the Tenant unless otherwise expressly permitted under the terms of this Lease and that Tenant shall in no event be entitled to any abatement of or reduction in Rent payable hereunder, except as herein expressly provided. Any present or future law to the contrary shall not alter this agreement of the parties. If Tenant defaults in the making of any payment to any third party or in the doing of any act required to be made or done by Tenant, then Landlord may, but shall not be required to make such payment or do such act, and the amount of the expense thereof, if made or done by Landlord, within interest thereon at the Default Rate accruing from the date paid by Landlord, together with an additional charge of fifteen percent (15%) of the amount so paid to cover Landlord’s administrative costs, shall be paid by Tenant to Landlord and shall constitute Additional Rent hereunder due and payable by Tenant upon receipt by Tenant of a written statement of costs from Landlord. The making of such payment or the doing of such act by Landlord shall not operate to cure Tenant’s default, nor shall it prevent Landlord from the pursuit of any remedy to which Landlord would otherwise be entitled.

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3.

 

Additional Rent.

Tenant, in addition to Basic Rent, shall pay Additional Rent as hereafter specified, payable by Tenant to Landlord under this Lease being deemed “Additional Rent”. Basic Rent and Additional Rent shall collectively be referred to as “Rent”.

(A) Impositions.

Tenant shall pay throughout the Term, as Additional Rent, all taxes and assessments, general and special, if any, levied and assessed on the Premises, any improvements or alterations thereto and any personal property located therein, and all other governmental charges and impositions of any kind or nature whatsoever, general or special, foreseen and unforeseen, which if not paid when due, would encumber the title to the Building, all of which are herein called “Impositions” provided, however, that Impositions relating to fiscal periods of the taxing authority which precede or extend beyond the Term of this Lease shall be appointed between Landlord and Tenant. Landlord shall periodically provide Tenant with Landlords estimate of Impositions coming due, and Tenant shall pay to Landlord monthly, together with Basic Rent, one twelfth (1/12) of Landlords estimate of Impositions. Landlord shall forward to Tenant copies of all notices, bills or other statements received by Landlord concerning any Impositions and the presentation of any such invoice shall be conclusive evidence of the amount of the particular element of the Imposition to which the bill or statement refers. Any overpayment or deficiency in Tenants payment of Impositions shall be “Adjusted” within thirty (30) days after Tenants receipt of such statement. For purposes of this Lease “Adjusted” or “Adjustment” means the adjustment between Landlord and Tenant of any overpayment or deficiency in payment by Tenant of Impositions. Any required Adjustment shall be made, as the case may be by;

(i) Tenants payment to Landlord of any deficiency or

(ii) by Landlord’s crediting to Tenant’s account any overpayment or, if such Adjustment is made at the end of the term, Landlord’s reimbursement to Tenant of such overpayment less any amounts due from Tenant. At anytime during a Lease Year, Landlord may re-estimate Tenant’s share of Impositions and adjust Tenant’s monthly installments payable thereafter during the Lease Year to reflect more accurately Tenant’s share of Impositions as reestimated by Landlord. ÂA

For purposes hereof, “Impositions” shall also include any and all business licenses and/or franchise taxes imposed upon Tenant, and any taxes, assessments or other levies which may at any time be imposed against the Premises by any federal, state, county, municipal, quasi governmental or corporate entity in respect of public transportation or works or other governmental authority any assessments for public improvements or benefits and including also any tax, assessment or other charges in the nature of a sales, excise, use or other tax upon the Rent payable under this Lease, whether assessed against Tenant or Landlord, or the Premises. Impositions shall also include the cost (including attorney’s fees, consultant fees, witness and appraisal costs) of any negotiation, contest or appeal pursued by Landlord (regardless of outcome). The provisions of this Lease shall not be deemed to require Tenant to Pay municipal, state or federal income, gross receipts or excess Profits taxes assess against the Landlord, or municipal, state or federal estate, succession, or inheritance taxes imposed upon the Landlord provided, however, that if, at any time during the Term of this Lease, the methods of taxation of real estate prevailing on the date of the Lease shall be altered or supplemental so as to cause in lien thereof the whole of the taxes, assessments and other governmental charges owed, levied and assessed on the Premises to be levied and assessed on the Rent payable by tenant to Landlord under this lease, then the taxes so levied and assessed on the Rent shall be deemed to be Impositions and shall be payable by Tenant.

In addition to Tenant’s share of Impositions, Tenant shall pay, prior to the date due, to the appropriate taxing authority, any and all sales, excise and other taxes levied, imposed or assessed with respect to the operation of Tenant’s business and with respect to its inventory, furniture, fixtures, equipment and all leasehold improvements installed by Tenant, any prior tenant or by Landlord on behalf of Tenant. In no event shall Tenant have the right to contest Impositions absent Landlord’s prior written consent, which consent may be withheld or delayed in Landlord’s sole and absolute discretion.

(B) Insurance/Indemnity.

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The Landlord assumes no liability or responsibility whatsoever with respect to the conduct and operations of the business to be conducted within the Premises. The Landlord shall not be liable for any accident or injury to any person or persons or property in or about the Premises which are caused by any reason whatsoever, including, but not limited to the conduct and operations of said business, or by virtue of equipment or property owned or permitted in the Premises by the Tenant except when caused by Landlord’s gross negligence and then, only to the extent not covered under Tenant’s insurance. The Tenant agrees to indemnify and hold the Landlord, its agents, employees and lenders having liens against the Premises (“Indemnities”) from and against all liability, claims, suits, causes of action, demands, judgments, cost, interest and expenses (including also actual counsel fees and disbursements incurred in the defense thereof) to which any Indemnities may be subject or suffered, whatsoever by reason of any claim for, injury to, or death of, any person or persons or damage to or loss of property (including also any loss of use thereof) or otherwise, and arising from or in connection with the use by Tenant of, or from any work or anything whatsoever done by Tenant or any of its officers, directors, agents, contractors, employees, licensees or while within the Premises, invitees in any part of the Premises, during the Term of this Lease, or arising from any condition of the Premises due to or resulting from any default by Tenant in keeping observance or performance of any covenant or agreement contained in this Lease or from any fault or neglect of Tenant or any of its officers, directors, agents, contractors, employees, licensees or while within the Premises, invitees.

(ii) In order to assure the Indemnity referred to hereinabove, Tenant shall carry and keep in full force and effect at all times during the Term of this Lease, for the protection of Landlord and Tenant and naming both Landlord, Tenant and any Indemnities of Landlord as may exist from time to time or other parties as landlord may designate from time to time as parties insured, public liability insurance with limits for bodily injury or death of a least ONE MILLION DOLLARS ($1,000,000.00) for any one person or occurrence and at least THREE MILLION DOLLARS ($3,000,000.00) in the aggregate for any accident or number of persons, and on hundred percent (100%) actual replacement cost and extended coverage insurance for all risks, fire, casualty and Property damage covering the Premises, including, but not limited to the heating, air conditioning, water heater, water pump, plumbing (including sprinkler), electrical and mechanical systems serving the Premises and leasehold improvements (including those made by any prior tenant), lifts and auto/truck bays and Alterations, such policies to carry special endorsements covering against damage or loss by earthquake and against damage by water covered by so call flood insurance. All such policies shall, at Landlord’s election, name party as Landlord may designate as loss payee. In addition Tenant shall maintain rental interruption insurance sufficient to cover Rent payable under this Lease for no less than a one year period from and after the date of casualty throughout the Term naming Landlord or upon prior written notice, such other parties as Landlord may designate, as sole loss payee. In no event shall minimum amounts of coverage called for herein be less that the amount required by lenders having liens on the Premises. Copies of all such policies and/or certificates of insurance shall be furnished to Landlord upon request without undo delay.

(iii) Tenant shall obtain or cause to be obtained prior to commencement of any permitted alterations or other work, and keep in force during performance of the work, public liability and workmen compensation insurance to cover all contracts to be employed and covering Tenant, if Tenant elects to do any work itself The covering limits, form, and content of such policies shall be commercially reasonable and customary as reasonably determined by Landlord, but no event in amounts less than that required under applicable law. Tenant shall also, upon Landlord’s request, carry contract insurance or cause its contracts to post performance bonds. Before commencement of any works on the Premises, Tenant shall deliver certificates to Landlord showing such insurance and/or performance bonds to be in effect.

(IV) Tenant shall carry statutory workman compensation insurance covering its employees in, on and about the Premises. Copy of such policy and/or certificate of insurance shall be furnished to Landlord upon request without undo delay.

(v) A insurance policies required to be obtained by Tenant hereunder shall be issued by recognized and responsible insurance companies, having a “Best Insurance” rating of not less than A and a credit rating not less than XV and be qualified to do business in Maryland, and shall provide that such policies shall not be cancelled without thirty (30) days prior written notice to Landlord. Landlord shall be named as an additional insured and whenever designated by Landlord, as sole loss payee on all such policies, with the exception of the statutory

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workmen compensation coverage referred to herein and other casualty insurance carried by Tenant covering trade fixtures, equipment and inventory paid for and brought upon the premises by Tenant. Tenant shall deliver to Landlord at least once each Lease year, but so often as Landlord may request from time to time, a copy of all such insurance policies or a certificate thereof showing the same to be in full force and effect.

(vi) In the event Tenant shall fail to keep in force and maintain any such policy of insurance, Landlord shall have the right, at its option, and at the sole cost of Tenant, in addition to all other rights and remedies in the event of default, to purchase such policy or policies of insurance and to pay the premiums thereon. In such, event Tenant shall pay Landlord as Additional Rent an amount equal to Landlord’s cost of such insurance plus fifteen percent (15%) to cover Landlord’s administrative costs in procuring and administering such insurance, upon receipt of a written demand therefore.

(vii) Anything in this Lease to the contrary notwithstanding, the Tenant does hereby release the Landlord from any and all liability for any loss or damage to its property or Premises caused by fire or any of the other casualties covered by the risks included in insurance policies required to be carried by Tenant, including but not limited to Tenant’s general liability, extended coverage all risk, property damage, flood, earthquake and casualty insurance. This release is given notwithstanding that such liability casualty or loss shall have resulted from the negligence of Landlord or Tenant or their respective agents, employees, licenses, contractors or invites. Tenant agrees to cause it insurance policies covering the Premises and contents thereof to contain an appropriate endorsement whereby the insurer agrees that the insurance policy and coverage will not be invalidated by reason of the foregoing waiver of the right of recovery against the Landlord for loss occurring to the properties covered by such policy, and whereby such insurer also waives any right of subrogation against the Landlord and Tenant will, upon request, deliver to Landlord a certificate evidencing such waiver of subrogation by the insurer.

(viii) Anything in this Section 3 to the contrary notwithstanding, Landlord shall have the option, either alternatively or in combination with Tenant, to carry such casualty and property insurance covering the Premises, leasehold improvements, Alterations, and systems serving the Premises, including but not limited to the heating, air conditioning, water heater, water pump, plumbing (including sprinkler), electrical, and mechanical systems, Landlord may determine to be reasonable or necessary to protect its interests, and bill the cost of any insurance carried directly by Landlord to Tenant. Any premiums so billed by Landlord to Tenant shall be Additional Rent and payable within five (5) days of written demand.

4.

 

Possession of Premises, TENANT’S Work.

Landlord delivers, and Tenant accepts the Premises “as is”. Tenant further acknowledges that is has fully inspected the Premises prior to the execution of this Lease and does hereby assume all of the risks, including but not limited to patent or latent defects as well as responsibility for all existing environmental conditions. Tenant further understands and agrees that Landlord shall be under no liability nor have any obligation to do any preoccupancy work or make any repairs in or to the Premises, except as otherwise expressly provided herein, any work which may be necessary to adapt the Premises for Tenant’s occupancy or for the operation of Tenant’s business therein (including any Alterations that may be necessary now or hereafter to effectuate compliance with any applicable laws), the sole responsibility therefore being that of Tenant and shall be performed by Tenant at its sole cost and expense.

5.

 

Tenant’s Covenants:

Tenant hereby covenants as follows:

(A) Not to use Premises for any disorderly or unlawful purpose, nor for any purpose not expressly permitted pursuant to this Lease.

(B) To keep the Premises and approaches thereto, including parking areas, clean and free from trash and rubbish, to remove snow and ice from the adjacent sidewalks and any parking areas and loading areas which are a portion of the Premises, and to keep any show windows and signs neat, clean and in good order; and not to store any material or trash of any nature whatsoever on the exterior of the Premises, unless same is contained in covered dumpsters and not to store or dispose of any materials, except in accordance with all applicable laws. Tenant

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shall contract and arrange for, at Tenant’s expense, trash and materials removal at such intervals as are necessary to satisfy the requirements of this paragraph and applicable laws.

(C) Not to operate any machinery in the Premises which may cause excessive vibration or damage to the Premises, nor create any nuisance.

(D) To inspect all portions of the Premises, both interior and exterior and all machinery and equipment therein, so it may promptly detect the need for repairs to any thereof, to make such repairs as it is herein obligate to make.

(E) Not to place any loads or machinery or safes in the Premises in excess of the existing floor loads or utilize any equipment which would overload the Premises existing systems.

6.

 

Use of Premises.

(A) Tenant hereby covenants and agrees the Premises shall not be used for any purpose other than for the following purposes: vehicle tire sales, repairs, parts accessories, maintenance and service.

(B) Tenant, at its own expense, shall comply with and carry out promptly, all orders, requirements or conditions imposed by the ordinances, laws and regulations of the United States, Maryland and of all other governmental authorities having jurisdiction over the Premises or Tenant, which are occasioned by or required in the conduct of Tenant’s business in the Premises, including but not limited to all environmental laws and regulations now or hereafter promulgated relative thereto. Tenant shall further comply with the Americans with Disabilities Act of 1990 (ADA) and any amendment to ADA, as well as applicable state land local laws, regulations and ordinances regarding access to, employment of, and service to individuals covered by the ADA. The compliance with ADA will include, but not be limited to, the design, construction and Alterations of the Premises. Tenant will indemnify Landlord and save it harmless from all penalties, claims and demands, resulting from any noncompliance. Tenant shall be responsible for obtaining and shall promptly obtain at its sole cost and expense all licenses, permits, certificates of occupancy, variances, special exceptions or any other permission necessary for its use, occupancy, repairs and subject to Section 8, signs, and subject to Section 9, Alterations of the Premises by Tenant as contemplated herein.

(C) Tenant shall not suffer or permit the Premises or any portion thereof to be used by the public without restriction or in such a manner as might reasonably tend to impair Landlord’s title to the Premises, or any portion thereof, or in such manner as might reasonably make possible a claim of adverse usage or adverse possession by the public, as such or of implied dedication of the Premises or any portion thereof Tenant hereby expressly recognizes that in no event shall it be deemed the agent of Landlord, and no contractor of Tenant shall by virtue of its contract be entitle to assert any lien against the Premises or Landlord’s interest therein.

7.

 

Repairs, Maintenance.

(A) Landlord shall, subject to the need therefore not being caused in whole or part by the negligent or willful acts or omission of Tenant, its agents, employees, contractors or assigns, and subject to the aggregate cost thereof over the term not exceeding two (2) months of the then current Rent, maintain the exterior, structural walls, and foundations of the building except for alterations and improvements made by Tenant affecting the foregoing, which shall be Tenant’s responsibility to maintain and repair. Tenant shall throughout the Term, at no cost or expense to Landlord, make all other necessary repairs to the interior and exterior of the Premises, including, without limitation, the roof, the plumbing, the parking lot, mechanical and electrical systems serving the Premises. Tenant shall, in addition, at no cost or expense to Landlord, maintain the Premises, and all fixtures, equipment, Alternations and improvements installed or made by Tenant, by Landlord or any prior tenants contained therein, including, but not limited to, heating, air conditioning, water heater, water pump, plumbing (including sprinkler system), electrical and mechanical systems, in at least as good repair order and condition as the same are in on the Lease Commencement Date or date installed by Tenant, reasonable wear and tear and loss by fire or other casualty (to the extent this Lease is terminated pursuant to Section 21 and insurance proceeds sufficient to replace the same are paid to Landlord or its designee or unless Landlord elects, pursuant to Section 21, to restore the Premises), and promptly at no cost or expense to Landlord, shall make or cause to be made, all necessary repairs, interior and exterior, structural and non structural, foreseen as well as unforeseen. Tenant, at its

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own cost and expense shall also keep, maintain and repair all sideways, driveways, ground (including lawn care) and parking areas in a clean, neat and orderly condition and shall remove all snow and ice therefrom.

(B) All personal property of the Tenant in the Premises shall be there at the sole risk of the Tenant. Landlord shall not be liable for any accident or damage to the property of Tenant resulting from any reason whatsoever. Tenant hereby expressly releases Landlord from liability incurred or claimed by reason of damage therefrom.

8.

 

Signs and Personal Property

Tenant agrees that no sign, awning, advertisement or notice shall be inscribed, affixed or displayed on any part of the Premises, except if first approved by Landlord, which approval will not be unreasonably withheld, conditioned or delayed. Such signage shall further be subject to all requirements and regulations of applicable governmental authorities having jurisdiction over the installation, placement and appearance of signs. Existing signs are deemed approved.

9.

 

Alterations

(A) Tenant shall not make alterations, installations, changes, replacements, additions or improvements in or to the Premises or any part thereof (“Alterations”), or delay its consent with respect to same, provided such work shall be non structural and provided further that such work shall not affect any of the mechanical, electrical or other systems servicing the building, and provided further, that Landlord shall have received plans and specifications in a form and detail satisfactory to Landlord of any such proposed Alterations, installations, changes, replacements, additions or improvements. Tenant agrees to provide Landlord with the name of any proposed contractors of Tenant, certificates of liability insurance maintained by such contractors in amounts acceptable to Landlord, and copies of all plans for such improvements at the time request for Landlord’s approval is made by Tenant. Tenant shall provide Landlord with a copy of all requisite permits prior to commencement of any such work as its sole expense. All of Tenant’s aforesaid Alterations shall be performed in a good and workman like manner and in compliance with all applicable laws, codes, rules and ordinances. Landlord may at its option and discretion require Tenant at Tenant’s expense, to repair any damage to the Premises caused by either the removal or installation of aforesaid Alterations, or the removal or installation of any of Tenant’s equipment or fixtures that are removable, and Tenant will promptly comply with such directions. In addition to all legal, equitable and other rights and remedies available to Landlord, it is agreed that if Tenant, after receipt of written notice and failure to cure same within ten


 
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