This Lease Agreement involves
Industry: Printing Services
Agreement Amending and Extending term of Lease dated October 1, 2003 between Bourque Printing DBA, Upton Printing and M. Field Gomila Et. Al..
COMMERCIAL GROSS LEASE
Standard Form of Leo Fellman & Co.
1. M. Feild Gomila Et
Al________________________________ (hereinafter referred to,
whether one or more, as “Lessor”) hereby leases to
Bourque Printing DBA, Upton Printing
____________________________________________________________ (hereinafter referred to, whether one or more, as “Lessee”), the following described property:
Leased Premises : The two, one-story buildings known as 740 and 746 Carondelet Street between Girod and Julia Streets, New Orleans, Louisiana 70130
In Solido Liability: 2. If the above described property is leased to more than one party, the obligations of all such parties hereunder, as Lessee, shall be in solido.
Term 3. This lease is for a term of Sixty (60) Months commencing on October 1, 2003 , and ending on September 30, 2008 .
Rental and Place of Payment 4. The monthly rental under this lease shall be $5,825.00 a month for the period of October 1, 2003 thru September 30, 2004 and then adjusted annually in accordance with Consumer Price Index for October 1, 2003 being the base year ($5,825.00 )
payable in advance. Rent for the first full calendar month of the term of this lease, plus the rent for any fractional month preceding such first calendar month, shall be payable on the signing of this Lease by Lessee and rent for subsequent months shall be payable on the first day of October 1, 2003 and on the first day of each calendar month thereafter; except that if this is a renewal lease, rent shall be payable on the date of the beginning of this lease on the same day of each month thereafter. All payments of rent shall be made to Leo Fellman & Co. at 720 Carondelet Street, New Orleans, Louisiana 70130, but Lessor may from time to time, with the written consent of Leo Fellman & Co, designate other persons and places for payment of rent by notice to lessee. If Lessee fails to pay the monthly rent provided above within seven (7) days after it is due, Lessee shall pay to Leo Fellman & Co. a late charge equal to 2% of such monthly rent, which shall be retained by Leo Fellman & Co. as part of its compensation, and shall be considered a form of rent.
Utility Charges 5. Lessee shall promptly pay all charges for gas, electricity, water and other utilities consumed on or furnished to the leased premises, including those used for air conditioning and heating purposes, and shall pay for water sprinkler service charge, if any. If lessee fails to pay any charges contemplated in this section, lessor may, at its sole option, pay same, which shall be considered a form of rent.
Use of Premises 6. The leased premises shall be used only for the following purposes: Printing. The leased premises shall not be used for any unlawful purpose or in any manner that may damage or depreciate the same.
Repairs 7. The leased premises and all appurtenances contained therein, including, but not limited to, locks, keys, glass, elevator (if any), plumbing, automatic sprinkler system (if any), heating equipment and air conditioning equipment (if any), are accepted by Lessee in their present condition, including any vices or defects, latent or otherwise, that may now exist or hereafter arise in the leased premises, except as to such repairs or improvements as this lease requires Lessor to make. Lessor shall maintain the roof of the leased premises in good order and repair, but shall not be required to make any other repairs or replacements whatsoever to the leased premises, except those rendered necessary by fire or other perils which would be covered by fire and extended coverage insurance. Lessee shall, at Lessee’s expense and within a reasonable period of time, make any and all repairs and replacements of whatsoever nature or character that may become necessary to the leased premises during the term of this lease other than those hereinabove required to be made by Lessor. At the termination of this lease, Lessee shall return the leased premises to Lessor, in like order and condition as received, broom clean and free from trash, ordinary decay, wear and tear excepted, and shall deliver the keys to the leased premises to Lessor or Leo Fellman & Co.
Responsibility for Damages, Injuries or Losses 8. Lessor shall not be responsible for damage to property or injury to person or other losses or damages caused by or resulting from leaks in the roof of the leased premises, unless Lessor fails to take steps toward repairing such leaks, within a reasonable period of time after being notified thereof by Lessee. Should Lessee fail to so notify Lessor promptly, Lessee shall be responsible for damages or losses resulting to Lessor or third parties. Nor shall Lessor be responsible for or Losses damage to property or injury to person or other losses or damages caused by or resulting from vices or defects, latent or otherwise, that may now exist or hereafter arise in the leased premises, or caused by or resulting from disrepair damage or conditions necessitating repairs or replacements required herein to be made by Lessee.
Delayed 9. Should Lessor be delayed in delivering possession of the leased premises to Lessee on the commencement date Possession of this lease, because of any delay of existing occupants to vacate or because of the construction of improvements or the making of repairs required by this lease to be made by Lessor not having been completed or because of any other reason, not due to the design of Lessor, this lease shall not be affected thereby and Lessee shall not be entitled to any damages for such delay, except that Lessee shall be allowed a remission of rent for the period prior to delivery of possession, in which case the termination date of this lease shall remain unchanged.
Delay in Making Repairs 10. If this lease requires Lessor to make improvements or repairs to the leased premises and Lessor deems it impracticable to do so prior to the commencement date of this lease, Lessee agrees that Lessor may make such improvements or repairs after possession is delivered to Lessee, in a manner such as not to unreasonably interfere with the operation of Lessee’s business, in which case there shall be no reduction or remission of tent.
Alterations or Additions by Lessee 11. Lessee shall not make any alterations or additions to the leased premises without obtaining Lessor’s prior written additions consent, but any and all alterations, additions or other improvements made by Lessee, with or without the consent of Lessee Lessor, regardless of how attached (except movable trade fixtures), shall immediately become and remain the property of Lessor, without compensation therefore to Lessee, provided Lessor shall have the right to require that Lessee, prior to the termination of this lease, remove any or all such alteration, additions or improvements and
restore the leased premises to their condition at the time of the commencement of this lease.
Switch Tracks 12. If any switchtracks serve the leased premises, any and all costs for the care, repair and maintenance thereof and franchise charges therefore shall be paid by N/A
13. Lessee shall comply with all requirements of State, Municipal, Federal and other public authorities, relating to the leased premises and the use and occupancy thereof.
14. Lessee assumes full responsibility for the condition of the leased premises and agrees to hold Lessor harmless from any and all liability for injury to persons or damage to property or other losses or damages caused by or resulting from any accident or other occurrence in, on or about the leased premises.
Liability and Plate Glass Insurance 15. Lessee shall provide and maintain, for the mutual benefit of Lessee and Lessor, liability insurance against claims and Plate (1) for bodily injury, or death resulting therefrom, occurring on the leased premises, in the amount of $300,000.00 as to Glass any one occurrence, and (2) for property damage in the amount of $50,000.00 as to any one occurrence on the leased premises. Leo Fellrnan & Co. shall be named as an insured in the policies evidencing such insurance and a certificate of insurance shall be delivered to Leo Fellman & Co. promptly upon the execution of this lease. Lessee shall also provide and maintain plate glass insurance in an amount adequate to cover any and all plate glass forming a part of the leased premises. All of said insurance shall be carried with responsible insurance companies authorized to transact business in the State of Louisiana and Lessee shall deliver to Lessor evidence of such insurance, upon request. Said insurance shall not be cancelled or materially altered by Lessee, without thirty (30) days’ prior written notice to Lessor and Leo Fellman & Co.
Acts of Lessee Affecting Insurance 16. If the rate of fire or other casualty insurance covering the leased premises is increased due to acts of Lessee, Lessee shall pay to Lessor the increased cost of such insurance. Lessee will not do or cause or suffer to be done any act Affecting or thing whereby the policy or policies of fire or other casualty insurance covering the leased premises shall become void or suspended. Should Lessee’s occupancy cause Lessor to be unable to obtain fire or other casualty insurance covering the leased premises, Lessor shall have the right to terminate this lease upon giving Lessee not less than ten (10) days prior written notice. Lessee agrees to notify Lessor at any time the leased premises will become unoccupied, so that Lessor may obtain necessary vacancy permits from Lessor’s insurers.
Signs by Lessee 17. Lessee shall have the right to erect and maintain signs advertising Lessee’s business on the interior and exterior Lessee of the leased premises, provided that the exterior signs shall be approved in writing by Lessor as to size, design and location and shall be erected and maintained in accordance with the rules and regulations of the properly constituted authorities. Lessee shall remove all signs placed on the interior and exterior of the leased premises at the expiration of this lease and shall repair any damage to the leased premises caused by the erection, maintenance or removal of such signs.
Right of Entry by Lessor For Sale and For Rent Signs; Inspection by Prospect 18. Lessor shall have the right to enter the leased premises at all reasonable times
for the purpose of inspecting the same and for the purpose of making repairs required to be made by Lessor or which Lessor may desire to make.
19. Lessor shall have the right to place the usual “For Sale” and “By Auction” signs on the leased premises at any and For time during the entire term of this lease and the usual “For Rent” signs on the leased premises during the last six (6) Rent Signs; months of the term of this lease. Lessee agrees to allow persons authorized by Lessor to inspect the leased premises during the entire term of this lease with the view of purchasing the same and during the last six (6) months of the term of by this lease with the view of renting the same, such inspections to be at reasonable hours. If Lessee is absent from the leased premises, Lessor shall be notified prior thereto where the keys may be obtained so that the leased premises may be shown to prospective purchasers of tenants in accordance with the foregoing. In the event of failure of Lessee to comply with any of the provisions of this paragraph, Lessor shall have the option either to consider this lease automatically extended for a period of one year, upon giving notice to that effect to Lessee, or to hold Lessee responsible for any losses suffered by such failure.
Surrender of Possession 20. Upon expiration or termination of this lease, Lessee shall surrender possession of the leased premises of immediately to Lessor and if Lessee fails to do so, Lessee shall be liable for any and all losses or damages suffered by Lessor, who shall have the right, but shall not required, to claim as such losses or damages an amount equal to five (5) times the rent per day for each day during which Lessee fails to so surrender possession of the leased premises. If Lessor allows Lessee to remain in the leased premises after expiration or termination of this lease, doing so shall not be construed as a reconduction of this lease.
Subleasing or Assignment 21. Lessee shall not have the right to sublease the leased premises, in whole or in part, or to assign this lease or of grant use of the leased premises to others, without the prior written consent of Lessor and any such sublease shall contain all the provisions of this lease to the extent applicable. Any such subleasing or assignment shall be handled by Leo Fellman & Co. and Lessee shall pay to Leo Fellman & Co. for such handling, at Lessee’s options, either (a) a cash commission in the amount of 6% of the gross tents payable during the entire term of such sublease or the remaining term of such assigned lease on tents up to $100,000.00 and 4% on rents in excess of $100,000.00, which commission shall be paid in full upon execution of such sublease or assignment, plus a commission of like amount on any percentage rents due under such sublease or assigned lease (such figure of $100,000.00 to apply to the aggregate of all rents), to be paid when such percentage rents become due, or (b) a commission of 8% of the gross rents payable during the entire term of such a sublease or the remaining term of such assigned lease, including any percentage, rents payable thereunder, such commission to be paid if, as and when such rents are actually collected, in which case such rents shall be collected by Leo Fellman & Co.
22. No auction sales, or other sales not in the ordinary course of Lessee’s business, shall be conducted on the leased premises, without the prior written consent of Lessor.
Damage by Fire, etc . 23. If the leased premises are destroyed, or damaged to an extent so as to render them wholly unfit for the purposes for which they are leased, by fire or other perils which would be covered by fire and extended coverage insurance, this lease shall automatically terminate, provide such destruction or damage is not caused by the neglect or design of Lessee. If,
however, the leased premises are damaged by fire or such other perils and can be repaired within one hundred twenty (120) days after the date of such fire or other casualty caused by such other perils, this lease shall not terminate and Lessor shall give notice to Lessee, within thirty (30) days after such fire or such other casualty, that Lessor will repair such damage, at Lessor’s cost, within said one hundred and twenty (120) day period, in which case Lessee shall be entitled to a reduction or remission of rent such as shall be just and proportionate, but shall not be entitled to any other damages; provided that if Lessor fails to complete such repairs within s