Exhibit 10.8
THIS LEASE is made this first day of
February, 1996, by and between Keyser Investment Group, Inc. a
Maryland corporation (herein called “Landlord”), and
Sinclair Broadcast Group, Inc., a Maryland corporation (herein
called “Tenant”).
W I T N E S S E T
H:
The Landlord hereby leases unto the
Tenant the following: 2000-2008 West 41st Street, City of
Baltimore, State of Maryland, 21211 consisting of certain buildings
and structures, the adjacent and service areas. The aforesaid
commercial property subject to this Lease is hereinafter called the
“Demised Premises” or “Premises” for an
initial term of ten (10) years, beginning on the 1st day of
February 1996, and ending on the 31st day of
January 2006, at rent payable in equal and successive monthly
payments as outlined on Schedule A (attached) on the first
(1st) day of each and every month in advance, plus the annual
increase as defined following.
Said rent shall be paid to the
Landlord at such place as the Landlord may from time to time
designate in writing.
The term of this Lease shall
automatically be renewed for two additional and consecutive terms
of five (5) years each, unless notice of cancellation is given by
Lessee as set forth in this paragraph. If Lessee gives
written notice of cancellation to Lessor not less that ninety (90)
days prior to the expiration of the initial term of this lease (or
of the first additional five year term, as the case may be) to the
effect that Lessee does not wish to extend the terms of this Lease
for any additional period, then this Lease shall terminate and
expire at the end of the then existing Lease term (either the
initial term, or the first additional five-year term, as the case
may be). In the event Lessee, for whatever reason, fails to
give such written notice of cancellation not less than ninety (90)
days prior to the end of this initial term of this Lease (or not
less than ninety (90) days prior to the end of the first additional
five-year term, as the case may be), the term of this Lease shall
be automatically extended for the next additional and consecutive
term of five (5) years.
THE TENANT AGREES WITH THE LANDLORD,
as follows:
1.
Rent.
To pay the rent when
due.
2.
Use.
To use and occupy the leased
premises solely for the following purposes: television station,
offices, studios and related facilities as permitted by applicable
zoning. Further, the Tenant agrees not to load the lease
Premises beyond its carrying capacity, and it agrees not to use
said premises, whole or in part, for any other purpose without the
written consent of the Landlord.
3.
Occupancy.
Tenant further agrees to
occupy the leased premises and conduct business therein
continuously during the term or any renewal thereof. If the
Tenant shall fail to take possession of the Demised Premises within
thirty (30) days after the commencement of the term of this Lease
or, if at any time during the term of this Lease or any renewal
thereof, the Tenant shall vacate, abandon, or cease to use or
occupy said Demised Premises, Landlord, in addition to any other
right or rights granted to it under this Lease or by law, may
reenter the Demised Premises and remove the Tenant or its legal
representatives or other occupant by summary proceeding or
otherwise; and in such event, Tenant waives the service of notice
of intention to reenter or to institute lease proceedings to that
end. In such event, Landlord may without notice or demand
enter the Demised Premises, breaking open locked doors, if
necessary to obtain entrance, without liability to action for
prosecution or damages for such entry or the
manner thereof.
4.
Water Rent.
To pay all the water rent and
sewerage charges chargeable to the said Premises.
5.
Federal, State, and Local
Laws, Etc. To
observe, comply with, and execute at its, the Tenant’s,
expense all laws valid and lawful rules, requirements, and
regulations of the United States, State of Maryland, and of the
City or County in which the lease Premises are situate, and of any
and all governmental authorities or agencies and of any board of
fire underwriters or other similar organization respecting the
leased Premises and the manner in which said Premises are and
should be used by it.
6.
Assignment and
Sublease. That
the written consent of the Landlord shall be required to each
assignment or sublease of the leased Premises, or any part thereof,
whether such assignment or sublease be made by it or by anyone
claiming by, through, or under it.
7.
Alterations and
Improvements.
Tenants shall not make any additions, alterations, or improvements
in or to the Demise Premises without Landlord’s written
consent. All additions, alterations, and improvements made in
or to the Demised Premises by either Landlord or Tenant shall
become property of the Landlord and shall be surrendered with the
Premises at the termination of this lease. Tenant shall have
the right to remove or replace its moveable trade fixtures;
provided, however, Tenant repairs any damages caused by such
removal. The failure of Tenant to remove trade fixtures or
any of its property at the termination of the term of this Lease
shall be deemed abandonment of such property at the option of the
Landlord.
8.
Tenant’s Obligation to
Repair and Replace/Landlord’s Right on Tenant’s
Default. The
Tenant shall, at its own expense, make all necessary repairs and
replacements to the leased property and to the pipes, heating
system, plumbing system, window glass, fixtures, and all other
appliances and their appurtenances, all equipment used in
connection with the leased property, and the sidewalks, curbs, and
vaults adjoining or appurtenant to the lease property. Such repairs
and replacements, interior and exterior, ordinary as well as
extraordinary, and structural as well as nonstructural, shall be
made promptly, as and when necessary. All repairs and
replacements shall be in quality and class at least equal to the
original work. On default of the Tenant in making such
repairs and replacements, the Landlord may, but shall not be
required to, make such repairs and replacements for the
Tenant’s account, and the expense thereof shall constitute
and be collectible as additional rent.
9.
Utilities.
The Tenant shall, upon
occupancy, procure and pay for all air conditioning, gas, light,
power, heat, and hot water used by the Tenant upon said Premises as
the same shall become due and payable, and the Tenant agrees that
the Landlord shall not be required to furnish any janitor
service.
10.
Taxes/Special
Assessments.
The Tenant shall pay to the Landlord, as additional rent, all taxes
payable to the State of Maryland and to the City or County in which
the leased Premises are situate, of whatever character or
description, levied upon, or assessed against said Premises for any
tax year in which this Lease shall be in effect, in whole or in
part. Said taxes shall include, but not by way of limitation,
all paving taxes, special paving taxes, and any and all benefits of
assessments which may be levied on the Premises hereby leased, but
shall not include United States income tax or any state or other
income tax upon the income or rent payable hereunder. The
Tenant shall pay any sum due hereunder to the Landlord prior to the
first (1st) day of September of the tax year in which any such
taxes, charges, benefits, or assessments shall become due, If
the Tenant should fail to pay any sum due hereunder on or before
the first (1st) day of September, as hereinabove provided, together
with all accrued interest and penalties there on, in that event,
the Landlord shall be entitled to distrain for said sum, together
with such interest and penalties, and the Tenant agrees with the
Landlord to pay to the Landlord that sum, including interest and
penalties as set forth above, in addition to said rental, in the
manner and at the times above set
forth, free and clear of all deductions
whatsoever.
11.
Condemnation.
In the event of condemnation
by any public or private authority of any portion of the Premises,
this Lease shall continue, and the rent shall not abate unless
condemnation renders the Premises completely unusable for the
conduct of any portion of the Tenant’s business thereon;
then, upon Tenant giving forty-five (45) days advance written
notice to the Landlord, this Lease will terminate. All
proceeds of condemnation belong to the Landlord, and the Landlord
has the sole right to contest, settle, or litigate
condemnation.
12.
Force Majeure.
Anything to the contrary
hereinabove contained notwithstanding, if it shall appear that the
Premises hereby leased, or any part thereof, were destroyed,
injured, or damaged to any extent whatsoever (a) as a result of
actual warfare, whether such war be declared or not, or (b) as the
result of the negligence of the Tenant, then, at the option of the
Landlord, this Lease may, upon ten (10) days notice in writing by
the Landlord to the Tenant, cease and terminate. If it shall
appear that such destruction, injury, or damage was the result of
the negligence of the Tenant, then there shall be no abatement of
rent until after the date of such termination.
13.
Bankruptcy, Receivership,
Etc. If, any
time, during the term of this Lease or any extension or renewal
thereof, there shall be filed by or against Tenant in any Court
pursuant to any statute, either of the United States or of any
reorganization or for the appointment of a receiver or trustee of
all or a portion of Tenant’s property, and within thirty (30)
days thereafter Tenant fails to secure a discharge thereof, or if
the Tenant makes an assignment for the benefit of creditors or
petitions for or enters into an arrangement, this Lease, at the
option of the Landlord, exercised within a reasonable time after
notice of the happening of any one or more of such events, may be
canceled and terminated; in which event, neither Tenant nor any
person claiming through or under Tenant by virtue of any statute or
of any Order of any Court shall be entitled to possession or to
remain in possession of the Demised Premises, b
