EXHIBIT 10.14
INSIGNIA CORPORATE ESTABLISHMENTS
(U.S.) INC.
LEASE
AGREEMENT
INSIGNIA CORPORATE ESTABLISHMENTS (U.S.) INC., a
Washington corporation (“Landlord”), operates a suite
of executive offices located at 999 Third Avenue, Suite 3800,
Seattle, Washington, 98104. TRANSMEDIA RESTAURANT COMPANY INC.
(“Tenant”) desires to lease a suite at Landlord’s
executive offices. Landlord and Tenant enter this Lease Agreement
(“Lease”), containing the following terms and
conditions, and agree that the Lease constitutes a legally binding
contract.
TERMS AND
CONDITIONS
1. T
HE
P
REMISES
Landlord rents to Tenant the space identified in
Schedule “A” to the Lease
(“premises”).
2. L
EASE
T
ERM
The lease term starts on September 1, 1999, and
continues for six (6) months until February 29, 2000. The Lease
will automatically renew at the end of this initial term unless
either Tenant or Landlord delivers a written notice of termination
to the other party by December 30, 1999. Any renewed lease shall
contain the same terms and conditions as the present lease, except
that the base rent shall be the market rate charged by the Landlord
at the time of lease renewal.
3. B
ASE
R
ENT
The monthly base rental rate (“base
rent”) shall be One Thousand One Hundred Twenty Five dollars
($1,125.00). Base rent includes the amenities and services
specified as “included” in Schedule “C” to
the Lease. If requested by Tenant, Landlord will provide any of the
additional monthly services identified in Schedule “C”
at the current rates.
4. B
UILDING
O
PERATING
C
OSTS
Tenant agrees to pay their proportionate share
of any increase in the building operating costs over the base year
1999 as determined by the building owners. The amount of any
increase will be payable on a monthly basis separate from the base
rent.
5. P
AYMENT
AND
L
ATE
C
HARGES
Base rent, fixed charges, services and variable
costs are due and payable on or before the first day of each month
(“monthly payments”). Tenant agrees to pay a late
charge equal to ten percent (10%) of the monthly payment if
Landlord does not receive the monthly payment on or before the
fifth (5 th ) day of the month in which it is
due. Interest on overdue accounts will be charged at the rate of
18% per annum. Tenant agrees to be liable as the maker on all
checks tendered on their behalf to Landlord. If any check tendered
on Tenant’s behalf is returned for insufficient funds,
uncollected funds or stopped payment, Tenant agrees to pay a fifty
dollar ($50.00) service charge to Landlord, plus any accrued
interest or late charges.
6. S
ECURITY
D
EPOSIT
Landlord has currently invoiced the Tenant for a
security deposit in the amount of One Thousand Seven Hundred Ten
and No/100 Dollars ($1,710.00). Upon execution of the Lease, Tenant
shall deposit with Landlord the amount of Five Hundred Forty and
No/100 Dollars ($540.00) for a total security deposit of Two
Thousand Two Hundred Fifty and No/100 Dollars ($2,250.00)
(“security deposit”).
This security deposit is not an advance payment
of rent or a measure of Landlord’s damages if Tenant defaults
on the Lease. During the lease term, the Landlord can use the
security deposit to make good any arrears in rent or repair any
damage Tenant causes to the premises, excluding normal wear and
tear. If Landlord uses any of the security deposit for these
purposes, Tenant shall, within ten (10) days after receiving
Landlord’s written notice, restore the security deposit to
its original amount. If Tenant’s account is in good standing
and there are no offsetting charges, Landlord will refund the
security deposit to the Tenant within thirty (30) days of the
Lease’s termination and vacant possession of the leased
premises (including the return of all keys, access and parking
cards).
7. B
USINESS
H
OURS
AND
A
CCESS
Landlord’s hours of service are 8:00 a.m.
to 5:00 p.m., Monday through Friday, except for legal holidays.
Tenant shall have access to the premises twenty-four (24) hours a
day, seven days a week, providing Tenant is not in default of the
Lease.
8. U
SE
OF
P
REMISES
Tenant shall use the premises solely for general
office purposes in a manner consistent with a first class office
building and in accordance with applicable zoning regulations.
Tenant is bound by the same rules and regulations governing the
conduct of the building’s
Page 2
tenants as is Landlord. Tenant may obtain a copy
of the building’s rules and regulations by submitting a
written request to the Landlord. Tenant shall not offer a service
to Landlord’s other tenants which is part of the amenities
and services Landlord currently provides. Tenant will not, without
Landlord’s prior written approval, install or operate on the
premises any equipment which requires a separate electrical
circuit, makes excessive noise, produces excessive heat or is a
potential fire hazard if not properly monitored.
9. M
AINTENANCE
OF
P
REMISES
Landlord will handle all contact with the
building management regarding any maintenance and/or
service-related item. Tenant shall, at its sole cost and expense,
keep the premises in good repair and condition (reasonable wear and
tear excepted). Tenant shall not hang pictures or make any other
alterations, installations or improvements without the
Landlord’s consent, such consent not to be unreasonably
withheld. If Landlord has to perform any special cleaning or repair
any damage resulting from Tenant’s occupancy of the premises
(excluding reasonable wear and tear), the costs of such cleaning or
repair will be deducted from the security deposit.
10. D
AMAGE
OR
L
OSS
OF
P
ROPERTY
Landlord is not responsible or liable for any
damage to or loss of Tenant’s property or that of the
Tenant’s guests unless the loss is due to the
Landlord’s gross negligence or willful misconduct. Each party
shall be responsible for carrying such insurance as it deems
necessary to protect its own interests.
11. H
OLD
H
ARM
