This Lease Agreement involves
Industry: Computer Services Sector: Technology
THIS LEASE, made as of the 2 nd day of November, 2007, by and between William Oesterle (“Landlord”), and AL Campus Kids, LLC, an Indiana limited liability company (“Tenant”);
In consideration of the mutual covenants contained herein. Landlord and Tenant agree as follows:
1. Leased Premises . Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the land and building commonly known as 124 Herman St., Indianapolis, Indiana (the “Leased Premises”) being approximately 1,000 in S.F. in size.
2. Term and Holding Over .
2.1. Term . Unless earlier terminated as herein provided, the term (“Term”) of this Lease shall be a period commencing on January 1, 2008 (“Commencement Date”), and ending on December 31, 2012.
2.2. Holding Over . If Tenant holds over and remains in possession of the Leased Premises after the expiration of the Term, such holding over and continued possession shall, if rent is paid by Tenant and accepted by Landlord, create a tenancy from month-to-month upon all of the terms herein specified, other than length of term.
3. Rent .
3.1. Minimum Rent . Tenant shall pay to Landlord as minimum rent (“Minimum Rent”) for the Leased Premises during the Term the sum of $1 per square foot monthly, One Thousand 00/100 Dollars ($1,000.00) per month for each month during the Term
3.2. Payment of Minimum Rent . Minimum Rent for the Term shall be payable in advance on or before January 1, 2008, and on or before the first day of each calendar month thereafter during the Term. In the event that the Term ends other than on the last day of a calendar month, the Minimum Rent for each day of occupancy during such month shall be 1/30th of such month’s Minimum Rent.
3.3. General . “Rent” as used herein shall mean any and all sums, charges and payments owing from Tenant to Landlord pursuant to this Lease. All Rent shall be paid without relief from valuation and appraisement laws and shall be payable without offset for any amount due or claimed to be due from Landlord to Tenant.
3.4. Tenant to Landlord pursuant to this Lease shall become overdue for a period in excess of five (5) days: (i) such unpaid amounts shall bear interest from the due date thereof to the date of payment at the rate of one and one-half percent (1-1/2%) per month, and (ii) in addition to and not in lieu of any other remedy Landlord may have hereunder or by law, a late charge in the amount of five percent (5%) of such overdue payment shall be paid by Tenant to Landlord, which late charge shall be payable upon demand.
4. Taxes on Tenant’s Business and Property . Lessee shall reimburse Lessor as additional rent for its proportionate share of any increase in Lessor’s annual real estate taxes regardless of the cause of such tax increase over the amount of such taxes paid by Lessor in the year 2007. Lessee’s liability herein shall begin with the payment due for the taxes paid in 2008 and thereafter for the taxes paid for the entire calendar year in May and November installments, continuing each year thereafter so long as the Lessee, its successor or assigns, remains in the subject premises, including any lease renewals or holdovers.
The Lessee’s obligation, pursuant to this section shall become due and payable within thirty (30) days when billed upon the submission to Lessee by Lessor consisting of a statement showing the computation upon which Lessee’s payment obligation is based, with copies of all applicable tax bills. In regard to any change in assessments, whether tentative of final, levied or proposed to be levied against the building and common facilities from time to time, promptly after receipt by Lessor of notice thereof.
5. Use of Leased Premises . The building constituting a part of Leased Premises shall be used solely for general office purposes for Tenant’s employees and for no other purpose whatsoever. Tenant shall not use the Leased Premises for any treatment, storage or disposal of any hazardous, special or other wastes, substances, materials, constituents, pollutants or contaminants (as those terms are defined under applicable local, state and federal laws and regulations promulgated thereunder). Tenant shall not allow any waste, damage or nuisance on the Leased Premises, or use or permit the use of the Leased Premises for any unlawful purpose and shall obtain all permits or approvals required for, and comply with all laws, ordinances, rules, regulations, orders and decrees of any governmental authority now or hereafter affecting or relating to, Tenant’s use of the Leased Premises.
6. Utilities . Tenant shall pay all usage and other charges for any and all utility services rendered or furnished to the Leased Premises, including, but not limited to, gas, electricity, water and sanitary sewer.
7. Maintenance and Repairs . Tenant, at Tenant’s expense, shall keep and maintain the Leased Premises and every part thereof in at least the same condition and repair as on the Commencement Date and as necessary for Tenant’s use of the Leased Premises as permitted by this Lease. Such maintenance shall include mowing of grass and removal of snow and ice from the vacant lot and sidewalks on or about the Leased Premises as necessary to maintain the grounds of the Leased Premises in a safe and sightly condition. Lessee shall maintain and repair, when necessary, the air conditioning, plumbing, mechanical equipment, gas and electrical appurtenances and fixtures, and controls. Lessee shall be responsible for the prompt replacement of any broken
or cracked window glass, replacing said glass with the same size, thickness quality and tint any interior repairs, painting or decorating.
8. Assignment and Subletting . The lease should not be assigned, or the demised premises underlet, without consent of the Lessor heron endorsed, which consent shall not be unreasonably withheld, and such consent having been given, the Lessee shall, nevertheless, remain primarily liable to perform all covenants and conditions hereof and to guarantee such performance by its assignee or subtenant.
9. Access to Leased Premises . Tenant shall permit Landlord and its agents to enter upon the Leased Premises at all reasonable times (i) to inspect and examine the Leased Premises, (ii) to show the Leased Premises to prospective purchasers, mortgagees and tenants, and (iii) to make such repairs as Landlord may reasonably deem necessary without any such act constituting an eviction of Tenant in whole or in part, without Rent in any manner abating while such repairs are being made by reason of loss or interruption of Tenant’s business in the Leased Premises, and without responsibility for any loss or damage to Tenant’s property. Landlord’s foregoing right of entry shall not be construed to impose upon Landlord any obligation or liability whatsoever for the maintenance or repair of the Leased Premises.
10. Insurance .
10.1. Insurance. Landl