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Exhibit 10.9
Highland Realty 8, Development
10801 Johnston Road
Charlotte, NC 28226
Phone: 704-542-8348, Fax: 704-542-8281
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REALTOR*
Commercial
Alliance
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REALTOR* North Carolina
Association
of REALTORS ®
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COMMERCIAL LEASE
AGREEMENT
(Multi-Tenant
Facility)
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THIS LEASE AGREEMENT, including any and all addenda attached
hereto ("Lease"), is by and between
Fran
Baltmiskis
,
a(n)
an individual___________________
("Landlord"),
(individual
or State of formation and type of entity)
whose address is 10801 Johnston
Rd., Suite 214, Charlotte, N.C.
28226______________________________________________________
and
Anchor
Funding
Services, LLC
, a(n) North
Carolina Limited Liabilit
y
(
"
Tenant").
(individual
or State of formation and type of entity)
whose address is 10801 Johnston Rd.,
Suite 209-210, Charlotte, N.C. 28226
o If this box is checked, the
obligations of Tenant under this Lease are secured by the
guaranty of
n/a (name(s) of guarantor(s)) attached hereto and
incorporated herein by reference.
(Note: Any guaranty should be prepared by an attorney at
law.)
For
and in consideration of the mutual promises set forth herein
and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:
PREMISES/PROPERTY
(Note: In this paragraph, Premises is the actual space being leased
and Property is the broader site/location of the
Premises.)
1. (a) Landlord leases unto Tenant, and Tenant hereby
leases and takes upon the terms and conditions which
hereinafter appear, those certain premises depicted on
Exhibit A
attached hereto and incorporated herein by reference (hereinafter
called the "Premises"), which is a part of a building or buildings
located at the Property (defined below).
The
address of the Premises is:
(Address):
10801
Johnston Rd., Suite 211, Charlotte, N.C. 28226
(b)
The Premises is located at the following described property
("Property"):
(Address):
McGregor
Downs Building, 10801 Johnston Rd., Charlotte, N.C.
28226
o All
o
A portion of the
property in Deed Reference: Book n/a
________ ,
Page
No_____________
n/a
County;
consisting of approximately __________________
n/a
______________________________________ acres.
Plat Reference: Lot(s) ________________
n/a
Block
or Section
n/a ___________________________
as
shown on Plat Book or Slide
n/a
at Page(s) _________________ n/a______________
,
n/a_______________________Contry,
consisting of
____________n/a___________________acres
o If this box is checked, Property
shall mean that property described on Exhibit
B attached hereto and incorporated herewith by
reference.
(For information purposes only, the tax parcel number of the
Property is
n/a
All facilities furnished at the Property and designated for
the general use, in common, of occupants of the Property and their
invitees, agents or
employees, including Tenant hereunder, including but not limited to
parking areas, streets, driveway s, sidewalks, canopies, roadways,
loading platforms, shelters, ramps, landscaped areas, exterior
water faucets, irrigation systems, exterior lighting fixtures,
signs and other facilities whether of a similar or dissimilar
nature ("Common Areas") shall at all times be subject to the
exclusive control and management of Landlord, and Landlord shall
have the right from time to time to change the area, level,
location and arrangement of the Common Areas and to restrict
parking by tenants and their employees to employee parking areas,
to make Rules and Regulations (as herein defined) and do such
things from time to time as in Landlord's reasonable discretion may
be necessary regarding the Common Areas.
Tenant
shall also have a non-exclusive right, in common with other
tenants at the Property, to the use of the Common Areas at the
Property, subject to the terms hereof.
TERM
2. The term of this Lease shall commence on
November
01 , 2007 ("Lease Commencement Date"), and shall end at
midnight on
May
30, 2009
,
unless sooner terminated as herein provided. The
first Lease Year Anniversary shall be the date twelve (12) calendar
months after the first day of the first full month immediately
following the Lease Commencement Date and successive Lease Year
Anniversaries shall be the date twelve (12) calendar months from
the previous Lease Year Anniversary.
o If this
box is checked, Tenant shall have the option of renewing this
Lease, upon written notice given to Landlord at least
90
days prior to the
end of the then expiring term of this Lease, for
one additional term(s) of
Two
years
each.
o Option to
Lease- If this box is checked, Tenant, upon the payment of
the sum of $ n/a
(which sum is not rental or security deposit hereunder, but is
consideration for this Option to Lease and is non-refundable under
any circumstances) shall have a period of n/a
days prior to the Lease Commencement Date ("Option Period") in
which to inspect the Premises and make inquiry regarding such sign
regulations, zoning regulations, utility availability, private
restrictions or permits or other regulatory requirements as Tenant
may deem appropriate to satisfy itself as to the use of the
Premises for Tenant's intended purposes. Tenant shall conduct all
such on-site inspections, examinations, inquiries and other review
of the Premises in a good and workmanlike manner, shall repair any
damage to the Premises caused by Tenant's entry and on-site
inspections and shall conduct same in a manner that does not
unreasonably interfere with Landlord's or any tenant's use and
enjoyment of the Property. In that respect, Tenant shall make
reasonable efforts to undertake on-site inspections outside of the
hours any tenant's business is open to the public and shall give
prior notice to the tenant at the Premises of any entry onto the
Premises for the purpose of conducting inspections. Upon Landlord's
request, Tenant shall provide to Landlord evidence of general
liability insurance. Tenant shall also have a right to review and
inspect all contracts or other agreements affecting or related
directly to the Premises and shall be entitled to review such books
and records of Landlord that relate directly to the operation and
maintenance of the Premises, provided, however, that Tenant shall
not disclose any information regarding the Property (or any tenant
therein) unless required by law and the same shall be regarded as
confidential, to any person, except to its attorneys, accountants,
lenders and other professional advisors, in which case Tenant shall
obtain their agreement to maintain such confidentiality. Tenant
assumes all responsibility for the acts of itself, its agents or
representatives in exercising its rights under this Option to Lease
and agrees to indemnify and hold Seller harmless from any damages
resulting therefrom. This indemnification obligation of Tenant
shall survive the termination of this Option to Lease or this
Lease. Tenant shall, at Tenant's expense, promptly repair any
damage to the Premises or Property caused by Tenant's entry and
on-site inspections. IF
TENANT CHOOSES NOT TO LEASE
THE PREMISES, FOR ANY REASON OR NO REASON, AND PROVIDES WRITTEN
NOTICE TO LANDLORD THEREOF
PRIOR TO THE EXPIRATION OF THE OPTION PERIOD, THEN THIS LEASE SHALL
TERMINATE AND NEITHER PARTY SHALL HAVE ANY FURTHER OBLIGATIONS
HEREUNDER AND LANDLORD SHALL RETURN TO TENANT
ANY RENTAL OR SECURITY DEPOSIT PAID TO LANDLORD HEREUNDER.
Tenant shall be deemed to have exercised its Option to Lease and to
be bound under the terms of this Lease if (i) Tenant shall occupy
the Premises prior to the expiration of the Option Period,
whereupon the date of occupancy shall be deemed the Lease
Commencement Date, or (ii) Tenant shall not provide written notice
to Landlord of its termination of this Lease prior to the
expiration of the Option Period.
RENTAL
3.
Beginning on
November 01, 2007 ("Rent Commencement Date"), Tenant agrees
to pay Landlord (or its Agent as directed
by Landlord), without notice, demand, deduction or set off, an
annual rental of $
9,000.00
,
payable in equal monthly installments
of $
750.
00
, in advance on the first day of each calendar month
during the term hereof. Upon execution of this Lease, Tenant shall
pay to Landlord the first monthly installment of rent due
hereunder. Rental for any period during the term hereof which is
less than one month shall be the pro-rated portion of the monthly
installment of rental due, based upon a 30 day month.
q If
this box is checked, the annual rental payable hereunder (and
accordingly the monthly installments) shall be adjusted every
one Lease Year Anniversary by 4
%
over the amount then payable hereunder. In the event renewal of
this Lease is provided for in paragraph
2 hereof and effectively exercised by Tenant, the rental
adjustments provided herein shall apply to the term of the Lease so
renewed, or
q If
this box is checked, the annual rental payable hereunder (and
accordingly the monthly installments) shall be adjusted every
n/a Lease Year Anniversary by $
nia over the amount then payable hereunder. In the
event renewal of this Lease is provided
for
in paragraph 2 hereof and effectively exercised by Tenant, the
rental adjustments provided herein shall apply to the term of
the Lease so renewed,
x If this box is checked,
Tenant shall pay all rental to Landlord's Agent at the
following address:
Highland Realty & Development, Ltd., 10801 Johnston Rd., Suite
116, Charlotte, N.C. 28226
LATE CHARGES
4.
If
Landlord fails to receive full rental payment within
10 days after it becomes due, Tenant shall pay Landlord, as
additional
rental,
a late charge equal to
ten percent
10 (%) of the overdue amount or $
n/a whichever is greater, plus any actual bank
fees incurred for dishonored payments. The parties agree that such
a late charge represents a fair and reasonable estimate of the cost
Landlord will incur by reason of such late payment.
SECURITY DEPOSIT
5.
Upon
the execution of this Lease, Tenant shall deposit with Landlord the
sum of $
7
50 - 00 as a security deposit which shall be
held by Landlord as security for the full and faithful performance
by Tenant of each and every term, covenant and condition of this
Lease. The security deposit does not represent payment of and
Tenant shall not presume application of same as payment of the last
monthly installment of rental due under this Lease. Landlord shall
have no obligation to segregate or otherwise account for the
security deposit except as provided in this paragraph 5. If any of
the rental or other charges or sums payable by Tenant shall be
over-due and unpaid or should payments be made by Landlord on
behalf of Tenant, or should Tenant fail to perform any of the terms
of this Lease, then Landlord may, at its option, appropriate and
apply the security deposit, or so much thereof as
may be necessary, to compensate toward the payment of the
rents, charges or other sums due from Tenant, or towards any loss,
damage or expense sustained by Landlord resulting from such default
on the part of the Tenant; and in such event Tenant upon demand
shall restore the security deposit to the amount set forth above in
this paragraph 5. In the event Tenant furnishes Landlord with proof
that all utility bills and other bills of Tenant related to the
Premises have been paid through the date of Lease termination, and
performs all of Tenant's other obligations under this Lease, the
security deposit shall be returned to Tenant within sixty (60) days
after the date of the expiration or sooner termination of the term
of this Lease and the surrender of the Premises by Tenant in
compliance with the provisions of this Lease.
x If this box is checked, Agent shall
hold the security deposit in trust and shall be entitled to
the interest, if any, thereon.
UTILITY BILLS/SERVICE CONTRACTS
6.
Landlord and Tenant agree that utility bills and service
contracts ("Service Obligations") for the Premises shall be
paid by the party indicated below as to each Service
Obligation. in each instance, the party undertaking
responsibility for payment of a Service Obligation covenants
that they will pay the applicable bills prior to delinquency.
The responsibility to pay for a Service Obligation shall
include all metering, hook-up fees or other miscellaneous
charges associated with establishing, installing and
maintaining such utility or contract in said party's name.
Within thirty (30) days of the Lease Commencement Date, Tenant
shall provide Landlord with a copy of any requested Tenant
Service Obligation information.
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Service Obligation
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Landlord
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Tenant
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Not Applicable
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Sewer/Septic
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Water
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q
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Electric
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q
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Gas
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q
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Telephone
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HVAC
(maintenance/service contract)
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q
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Elevator
(including phone line)
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q
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Security System
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Fiber Optic
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Janitor/Cleaning
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Trash/Dumpster
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q
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Landscaping/Maintenance
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Sprinkler System (including phone line)
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q
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Pest
Control
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q
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n/a
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q
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n/a
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q
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q
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q
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n/a
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q
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n/a
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q
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Landlord
shall not be liable for injury to Tenant's business or loss of
income there-from or for damage that may be sustained by the
person, merchandise or personal property of Tenant, its
employees, agents, invitees or contractors or any other person
in or about the Premises, caused by or resulting from fire,
steam, electricity, gas, water or rain, which may leak or flow
from or into any part of the Premises, or from the breakage,
leakage, obstruction or other defects of any utility
installations, air conditioning system or other components of
the Premises or the Property, except to the extent that such
damage or loss is caused by Landlord's gross negligence or
willful misconduct. Landlord makes no representations or
warranties with respect to the heating, ventilation and air
conditioning system(s) or utility installations existing as of
the date hereof or in the future. Subject to the provisions of
this paragraph 6, Landlord shall not be liable in damages or
otherwise for any discontinuance, failure or interruption of
service to the Premises of utilities or the heating,
ventilation and air conditioning system(s) and Tenant shall
have no right to terminate this Lease or withhold rental
because of the same.
RULES AND REGULATIONS
7.
The
rules and regulations, if any, attached hereto ("Rules and
Regulations") are made a part of this Lease. Tenant agrees to
comply with any Rules and Regulations of Landlord in connection
with the Premises which are in effect at the time of the execution
of the Lease or which may be from time to time promulgated by
Landlord in its reasonable discretion, provided such Rules and
Regulations are in writing and are not in conflict with the terms
and conditions of the Lease. Landlord shall use commercially
reasonable efforts to enforce such Rules and Regulations at the
Property, provided, however, in no event shall Landlord be
obligated to make any material expenditures in connection with the
enforcement of such Rules and Regulations. Landlord shall not be
liable for any damages arising from any use, act or failure to act
of any other tenant or occupant (including such tenant's or
occupant's invitees, agents or employees), if any, of the
Property.
PERMITTED USES
8.
The permitted use of the Premises shall be
Professional
Office Use Only
("Permitted
Use"). The Premises shall be used and wholly occupied by
Tenant solely for the purposes of conducting the Permitted
Use, and the Premises shall not be used for any other purposes
unless Tenant obtains Landlord's prior written approval of any
change in use. Landlord makes no representation or warranty
regarding the suitability of the Premises for or the legality
(under zoning or other applicable ordinances) of the Permitted
Use for the Premises, provided however, that Landlord does
represent that it has no contractual obligations with other
parties which will materially interfere with or prohibit the
Permitted Use of Tenant at the Premises. At Tenant's sole
expense, Tenant shall procure, maintain and make available for
Landlord's inspection from time to time any governmental
license(s) or permit(s) required for the proper and lawful
conduct of Tenant's business in the Premises. Tenant shall not
cause or permit any waste to occur in the Premises and shall
not overload the floor, or any mechanical, electrical,
plumbing or utility systems serving the Premises. Tenant shall
keep the Premises, and every part thereof, in a clean and
wholesome condition, free from any objectionable noises, loud
music, objectionable odors or nuisances.
TAXES, INSURANCE AND COMMON AREA AND PROPERTY OPERATING
EXPENSES
9.
Landlord shall pay all taxes (including but not limited to, ad
valorem taxes, special assessments and any other governmental
charges) on the Property, shall procure and pay for such
commercial general liability, broad form fire and extended and
special perils insurance with respect to the Property as
Landlord in its reasonable discretion may deem appropriate and
shall maintain and operate the Common Areas and the Property.
Tenant shall reimburse Landlord for its proportionate share of
all taxes, insurance and Common Areas and Property operating
expenses as provided herein within fifteen (15) days after
receipt of notice from Landlord as to the amount due. Tenant
shall be solely responsible for insuring Tenant's personal and
business property and for paying any taxes or governmental
assessments levied thereon. Tenant shall reimburse Landlord
for its proportionate share of taxes, insurance and Common
Areas and Property operating expenses during the term of this
Lease, and any extension or renewal thereof; as
follows:
Taxes
o Its proportionate share of the
amount by which all taxes (including but not limited to, ad
valorem taxes, special assessments and any other governmental
charges) on the Property for each tax year exceed all taxes
on the Property for the tax year
n/a ;
or
o Its proportionate share of all
taxes (including but not limited to, ad valorem taxes,
special assessments and any other governmental charges) on
the Property for each tax year.
If
the final Lease Year of the term fails to coincide with the
tax year, then any excess for the tax year during which the
term ends shall be reduced by the pro rata part of such tax
year beyond the Lease term. If such taxes for the year in
which the Lease terminates are not ascertainable before
payment of the last month's rental, then the amount of such
taxes assessed against the Property for the previous tax year
shall be used as a basis for determining the pro rata share,
if any, to be paid by Tenant for that portion of the last
Lease Year.
o If this box is checked, Tenant
shall reimburse Landlord for its proportionate share of taxes
by paying to Landlord, beginning on the Rent Commencement
Date and on the first day of each calendar month during the
term hereof, an amount equal to one-twelfth (1/12) of its
proportionate share of the then current tax payments for the
Property. Upon receipt of bills, statements or other evidence
of taxes due, Landlord shall pay or cause to be paid the
taxes. If at any time the reimbursement payments by Tenant
hereunder do not equal its proportionate share of the amount
of taxes paid by Landlord, Tenant shall upon demand pay to
Landlord an amount equal to the deficiency or Landlord shall
refund to Tenant any overpayment (as applicable) as
documented
by Landlord. Landlord shall have no obligation to segregate
or otherwise account for the tax reimbursements paid
hereunder except as provided in this paragraph
9.
Insurance
Its
proportionate share of the excess cost of commercial general
liability, broad form fire and extended and special perils
insurance with respect to the Property over the cost of the
first year of the Lease term for each subsequent year during
the term of this Lease; or
q Its proportionate
share of the cost of all commercial general liability, broad
form fire and extended and special perils insurance with
respect to the Property.
Provided,
however, that in the event Tenant's use of the Premises
results in an increase in the rate of insurance on the
Property, Tenant also shall pay to Landlord, upon demand and
as additional rental, the amount of any such
increase.
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If
this box is checked, Tenant shall reimburse Landlord for its
proportionate share of insurance by paying to Landlord, beginning
on the Rent Commencement Date and on the first day of each calendar
month during the term hereof, an amount equal
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