Back to top

LEASE

Warehouse Lease Agreement

LEASE | Document Parties: APA ENTERPRISES, INC. | BASS LAKE REALTY LLC You are currently viewing:
This Warehouse Lease Agreement involves

APA ENTERPRISES, INC. | BASS LAKE REALTY LLC

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: LEASE
Date: 6/28/2006
Industry: Scientific and Technical Instr.     Sector: Technology

LEASE, Parties: apa enterprises  inc. , bass lake realty llc
50 of the Top 250 law firms use our Products every day

 

LEASE

 

BY AND BETWEEN

 

BASS LAKE REALTY LLC,

as Landlord

 

AND

 

APA CABLES & NETWORKS. INC.,

as Tenant

 

DATED: MAY 31 , 2006

 

 

 

PROPERTY :   BASS LAKE BUSINESS CENTRE I, 5480 NATHAN LANE, PLYMOUTH, MN

 


 

LEASE

 

THIS LEASE is made this 31st day of May, 2006 between Bass Lake Realty LLC, a Delaware limited liability company ("Landlord"), and the Tenant named below.

 

ARTICLE I

BASIC TERMS

 

TENANT:

APA Cables & Networks, Inc., a Minnesota corporation

 

 

TENANT'S NOTICE ADDRESS:

5480 Nathan Lane, Suite 120

 

Plymouth, Minnesota 55442

 

Attn: Chris B Podzimek

 

 

LANDLORD'S NOTICE ADDRESS:

c/o Great Point Investors LLC

 

Two Center Plaza, Suite 410

 

Boston, MA 02108

 

Attn: Joseph A. Versaggi

 

 

 

with a copy to:

 

 

 

United Properties LLC

 

3500 American Boulevard West

 

Suite 200

 

Bloomington, MN 55431

 

Attn: Lisa Dongoske

 

 

 

Rent payments to be sent to:

 

United Properties

 

MI 65

 

PO Box 1150

 

Minneapolis, MN 55480-1150

 

 

PROPERTY:

Bass Lake Business Centre, 5480 Nathan Lane, Plymouth, MN (the "Building"), together with the parking areas, landscaping, walkways and other improvements related to the Building, as described on Exhibit A .

 

 

PREMISES:

Approximately Twenty-Nine Thousand Seven Hundred Thirty-Eight (29,738) rentable square feet (9,284 square feet of which is office space, 4,499 square feet of which is warehouse space, and15,955 space) located at the Building, as shown on square feet of which is production/tech Exhibit B .

 

 

PROPERTY RENTABLE AREA:

Approximately Sixty-Three rentable square feet.

 

 

TENANT'S PRO RATA SHARE:

47.2%

 


 

LEASE TERM:

Approximately eighty-nine (89) months beginning on the Lease Commencement Date and ending on November 30, 2013.

 

 

LEASE COMMENCEMENT DATE:

July 1, 2006.

 

 

RENT COMMENCEMENT DATE:

November 1, 2006.

 

 

BASE RENT:

(a) From the Rent Commencement Date through and including the last day of the first Lease Year, $203,110.54 per year; $16,925.88 per month;

 

 

 

(b) For the second Lease Year, $210,247.66 per year; $17,520.64 per month;

 

 

 

(c) For the third Lease Year, $217,384.78 per year; $18,115.40 per month;

 

 

 

(d) For the fourth Lease Year, $225,116.66 per year; $18,759.72 per month;

 

 

 

(e) For the fifth Lease Year, $232,551.16 per year; $19,379.26 per month;

 

 

 

(f) For the sixth Lease Year, $239,985.66 per year; $19,998.81 per month;

 

 

 

(g) For the seventh Lease Year, $247,122.78 per year; $20,593.56 per month; and

 

 

 

(h) For the last five months of the Term, five monthly payments, each in the amount of $21,237.89.

 

 

LEASE YEAR:

Each successive twelve (12) month period comprising the Term, except that the first (1 st ) Lease Year of the Term may be greater than twelve (12) months and shall commence on the Lease Commencement Date and end on the last day of the month in which the first (1st) anniversary of the Lease Commencement Date occurs (unless the Lease Commencement Date occurs on the first day of a month, in which case the first Lease Year shall end on the day before the first (1st) anniversary of the Lease Commencement Date). Subsequent Lease Years shall commence on the day after the last day of the first (1 st ) Lease Year or an anniversary thereof, and shall end on each anniversary of the last day of the first (1 st ) Lease Year.

 

 

SECURITY DEPOSIT:

An unconditional, irrevocable letter of credit in the amount of One Hundred Thousand ($100,000) Dollars in the form attached hereto as Exhibit E , subject to reduction as set forth in Section 14.14.

 

2


 

PERMITTED USES:

Subject to applicable zoning, for general office, warehouse and production/technical use, and for no other purpose whatsoever.

 

 

BROKERS:

United Properties LLC

 

3500 American Boulevard West

 

Suite 200

 

Bloomington, MN 55431

 

Attn: Mark Sims, Jon Yanta, and Bruce Hoberman

 

 

PARKING SPACES:

Eighty-Nine (89) unreserved spaces.

 

ARTICLE II

LEASE TERM

 

2.1

LEASE OF PREMISES FOR LEASE TERM.

 

Landlord hereby leases the Premises to Tenant and Tenant leases the Premises from Landlord for the Lease Term, unless sooner terminated pursuant to the terms hereof. Additionally, from June 1, 2006 until the date that is two (2) weeks after substantial completion of Landlord's Work (as hereinafter defined), Landlord grants to Tenant a license to use approximately 5,000 square feet of warehouse space in a location determined by Landlord at the property known as Eagle Lake Business Centre II, 10200 73 rd Avenue, Maple Grove, MN, or Parkers Lake Point III, 14305 21 st Avenue. Plymouth, MN. Tenant's use and occupancy of such warehouse space shall be subject to all of the terms and conditions of this Lease, provided, however, Tenant shall not be required to pay any rent for such use and occupancy, and Landlord may immediately terminate such license in the event of any default by Tenant hereunder.

 

2.2

DELAY IN COMMENCEMENT.

 

If Landlord is unable to deliver the Premises on the Lease Commencement Date, such date will be postponed to the date possession of the Premises is delivered to Tenant (and all other dates herein shall likewise be recalculated). At Landlord's request, Landlord and Tenant will execute a Memorandum of Acceptance of Lease, in Landlord's customary form, setting forth the Lease Commencement Date, Rent Commencement Date and Expiration Date of this Lease.

 

2.3

EARLY TERMINATION OPTION.

 

Provided no default exists or would exist but for the passage of time or the giving of notice, or both, Tenant shall have the right to send to Landlord, on or before March 1, 2011, written notice (the "Termination Notice") that Tenant has elected to terminate the Term effective on November 30, 2011 (the "Early Termination Date"). If Tenant elects to terminate the Term pursuant to the immediately preceding sentence, the effectiveness of such termination will be conditioned upon Tenant's paying to Landlord, contemporaneously with Tenant's delivery of the Termination Notice to Landlord, an early termination fee (the "Early Termination Fee") equal to the sum of (a) $77,517.04, (b) four (4) months of Additional Rent due to Landlord pursuant to the terms hereof at the rate payable during such fifth (5th) Lease Year, and (c) all unamortized transaction costs, including but not limited to the four months free Base Rent provided hereunder, brokerage commissions, costs of tenant improvements made by Landlord, and legal fees; provided, however, if a replacement tenant occupies, pursuant to the terms of a lease, the entire Premises, by February 1, 2012, Landlord will refund to Tenant $38,758.52, plus two (2) months of Additional Rent due to Landlord pursuant to the terms hereof at the rate payable during the fifth (5 th ) Lease Year. The Early Termination Fee is consideration for Tenant's option to terminate and will not be applied to rent or any other obligation of Tenant. If Tenant exercises this early termination option, on or before the Early Termination Date, Tenant shall vacate and surrender the Premises to Landlord pursuant to the terms of the Lease, and, as of such Early Terminate Date, Tenant shall no longer be responsible for Tenant's obligations under the terms of the Lease, except for those provisions of the Lease that survive termination of the Lease, and any obligations arising prior to the Early Termination Date.

 

3


 

ARTICLE III

RENT

 

3.1

BASE RENT.

 

Commencing on the Rent Commencement Date, on the first day of each calendar month during the Lease Term, Tenant will pay to Landlord the Base Rent in equal monthly installments, in lawful money of the United States, in advance and without offset, deduction prior notice or demand. The Base Rent is payable at Landlord's Rent Payment Address or at such other place or to such other person as Landlord may designate in writing from time to time. Payments of Base Rent for any partial calendar month will be prorated. Base Rent for the first month of the Term shall be paid on the date hereof.

 

3.2

ADDITIONAL RENT.

 

All sums payable by Tenant under this Lease other than Base Rent are "Additional Rent"; the term "Rent" includes both Base Rent and Additional Rent. Landlord will estimate in advance and charge to Tenant the following costs ("Total Operating Costs"), which Tenant will pay with the Base Rent on a monthly basis throughout the Occupancy Period: (i) all Real Property Taxes for which Tenant is liable under Article 4, (ii) all utility costs (to the extent utilities are not separately metered) for which Tenant is liable under Article 5, (iii) all insurance premiums for which Tenant is liable under Article 6 and (iv) all Operating Expenses for which Tenant is liable under Article 7 of this Lease. Landlord may adjust its estimates of Total Operating Costs at any time based upon Landlord's experience and reasonable anticipation of costs. Such adjustments will be effective as of the next Rent payment date after notice to Tenant. "Occupancy Period" means the period from the time Tenant first enters the Premises, throughout the Lease Term and thereafter as long as Tenant remains in the Premises.

 

After the end of each fiscal year during the Term, Landlord will deliver to Tenant a statement setting forth, in reasonable detail, the Total Operating Costs paid or incurred by Landlord during the preceding fiscal year and Tenant's Pro Rata Share of such expenses. Within 30 days after Tenant's receipt of such statement, there will be an adjustment between Landlord and Tenant, with payment to or credit given by Landlord (as the case may be).

 

3.3

INTEREST AND LATE CHARGES.

 

Any Rent or other amount due to Landlord, if not paid when due, will bear interest from the date due until paid at the rate of 10% per year, but not to exceed the highest rate legally permitted. In addition, if any installment of Rent or any other sums due from Tenant is not received by Landlord within 5 days following the due date, Tenant will pay to Landlord a late charge equal to 5% of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. Notwithstanding the foregoing, no interest shall accrue and the late charge shall not be due for the first late payment in any rolling twelve (12) month period.

 

4


 

ARTICLE IV

PROPERTY TAXES

 

4.1

REAL PROPERTY TAXES.

 

Tenant will pay Tenant's Pro Rata Share of Real Property Taxes allocable to the Occupancy Period. If Landlord receives a refund of any Real Property Taxes with respect to which Tenant has paid Tenant's Pro Rata Share, Landlord will refund to Tenant Tenant's Pro Rata Share of such refund after deducting therefrom all related costs and expenses. "Real Property Taxes" means taxes, assessments (special, betterment, or otherwise), levies, fees, rent taxes, excises, impositions, charges, water and sewer rents and charges, and all other government levies and charges, general and special, ordinary and extraordinary, foreseen and unforeseen, which are imposed or levied upon or assessed against the Property or any Rent. Real Property Taxes include Landlord's costs and expenses of review and contesting any Real Property Tax. If at any time during the Lease Term the present system of ad valorem taxation of real property is changed so that in lieu of the whole or any part of the ad valorem tax on real property, or in lieu of increases therein, Landlord is assessed a capital levy or other tax on the gross rents received with respect to the Property or a federal, state, county, municipal, or other local income, franchise, excise or similar tax, assessment, levy, or charge (distinct from any now in effect) measured by or based, in whole or in part, upon gross rents or any similar substitute tax or levy, then all of such taxes, assessments, levies or charges, to the extent so measured or based, will be deemed to be a Real Property Tax.

 

4.2

PERSONAL PROPERTY TAXES.

 

Tenant will pay directly all taxes charged against trade fixtures, furnishings, equipment, inventory or any other personal property belonging to Tenant. Tenant will use its best efforts to have personal property taxed separately from the Property. If any of Tenant's personal property is taxed with the Property, Tenant will pay Landlord the taxes for such personal property within 15 days after Tenant receives a written statement from Landlord for such personal property taxes.

 

ARTICLE V

UTILITIES

 

5.1

UTILITIES.

 

Tenant will promptly pay, directly to the appropriate supplier, the cost of all natural gas, heat, cooling, energy, light, power, sewer service, telephone, water, refuse disposal and other utilities and services supplied to the Premises, together with any related installation or connection charges or deposits (collectively, "Utility Costs") incurred during the Occupancy Period. If any services or utilities are jointly metered with other premises, Landlord will make a reasonable determination of Tenant's proportionate share of such Utility Costs and Tenant will pay such share to Landlord. Landlord reserves the right to participate in wholesale energy purchase programs and to provide energy to the Premises through such programs so long as the cost to Tenant is competitive.

 

ARTICLE SIX

INSURANCE

 

6.1.

TENANT'S INSURANCE.

 

Tenant, at its expense, will maintain the following insurance coverages during the Occupancy Period:

 

(a)         Liability Insurance . Commercial general liability insurance insuring Tenant against liability for bodily injury, property damage (including loss of use of property) and personal injury at the Premises, including contractual liability. Such insurance will name Landlord, its property manager, any mortgagee, Great Point Investors LLC, and such other parties as Landlord may designate, as additional insureds. The initial amount of such insurance will be Five Million Dollars ($5,000,000) per occurrence and will be subject to periodic increases reasonably specified by Landlord based upon inflation, increased liability awards, recommendations of Landlord's professional insurance advisers, and other relevant factors. The liability insurance obtained by Tenant under this Section 6.1 will (i) be primary and (ii) insure Tenant's obligations to Landlord under Section 6.4. The amount and coverage of such insurance will not limit Tenant's liability nor relieve Tenant of any other obligation under this Lease.

 

5


 

(b)         Worker's Compensation Insurance . Worker's Compensation Insurance in the statutory amount (and Employers' Liability Insurance) covering all employees of Tenant employed or performing services at the Premises, in order to provide the statutory benefits required by the laws of the state in which the Premises are located.

 

(c)         Automobile Liability Insurance . Automobile Liability Insurance, including but not limited to, passenger liability, on all owned, non-owned, and hired vehicles used in connection with the Premises, with a combined single limit per occurrence of not less than One Million Dollars ($1,000,000) for injuries or death of one or more persons or loss or damage to property.

 

(d)         Personal Property Insurance . Personal Property Insurance covering leasehold improvements paid for by Tenant and Tenant's personal property and fixtures from time to time in, on, or at the Premises, in an amount not less than 100% of the full replacement cost, without deduction for depreciation, providing protection against events protected under "All Risk Coverage," as well as against sprinkler damage, vandalism, and malicious mischief. Any proceeds from the Personal Property Insurance will be used for the repair or replacement of the property damaged or destroyed, unless the Lease Term is terminated under an applicable provision herein. If the Premises are not repaired or restored in accordance with this Lease, Landlord will receive any proceeds from the personal property insurance allocable to Tenant's leasehold improvements.

 

6.2

LANDLORD'S INSURANCE.

 

During the Lease Term, Landlord will maintain in effect all risk insurance covering loss of or damage to the Property in the amount of its replacement value with such endorsements and deductibles as Landlord determines from time to time. Landlord will have the right to obtain flood, earthquake, and such other insurance as Landlord determines from time to time or is required by any mortgagee of the Property. Landlord will not insure Tenant's fixtures or equipment or building improvements installed or paid by Tenant. Landlord may obtain commercial general liability insurance in an amount and with coverage determined by Landlord insuring Landlord against liability with respect to the Premises and the Property. The policy obtained by Landlord will not provide primary insurance, will not be contributory and will be excess over any liability insurance maintained by Tenant. Landlord will also maintain a rental income insurance policy, with loss payable to Landlord. Tenant will pay Tenant's Pro Rata Share of premiums for the insurance policies maintained by Landlord. Any increase in the cost of Landlord's insurance due to Tenant's use or activities at the Premises will be paid by Tenant to Landlord as Additional Rent.

 

6.3

GENERAL INSURANCE PROVISIONS.

 

(a)   Any insurance which Tenant is required to maintain under this Lease will include a provision which requires the insurance carrier to give Landlord not less than 30 days' written notice prior to any cancellation or modification of such coverage.

 

(b)   Prior to the earlier of Tenant's entry into the Premises or the Lease Commencement Date, Tenant will deliver to Landlord an insurance company certificate that Tenant maintains the insurance required by Section 6.1 and not less than 20 days prior to the expiration or termination of any such insurance, Tenant will deliver to Landlord renewal certificates therefor. Tenant will provide Landlord with copies of the policies promptly upon request from time to time.

 

6


 

(c)      All insurance policies required under this Lease will be with companies having a "General Policy Rating" of A -; X or better, as set forth in the most current issue of the Best Key Rating Guide.

 

(d)       Without limiting the provisions of Section 6.4, Landlord and Tenant, on behalf of themselves and their insurers, each hereby waives any and all rights of recovery against the other, the agents, advisors, employees, members, officers, directors, partners, trustees, beneficiaries and shareholders of the other and the agents, advisors, employees, members, officers, directors, partners, trustees, beneficiaries and shareholders of each of the foregoing (collectively, "Representatives"), for loss of or damage to its property or the property of others under its control, to the extent that such loss or damage is covered by any insurance policy in force (whether or not described in this Lease) at the time of such loss or damage, or required to be carried under this Article 6. All property insurance carried by either party will contain a waiver of subrogation against the other party to the extent such right was waived by the insured party prior to the occurrence of loss or injury.

 

6.4

INDEMNITY.

 

To the fullest extent permitted by law, Tenant hereby waives all claims against Landlord and its Representatives (collectively, the "Indemnitees") for damage to any property or injury to or death of any person in, upon or about the Premises or the Property arising at any time and from any cause. Tenant shall hold Indemnitees harmless from and defend Indemnitees from and against all claims, liabilities, judgments, demands, causes of action, losses, damages, costs and expenses, including reasonable attorney's fees, for damage to any property or injury to or death of any person arising from (i) the use or occupancy of the Premises by Tenant or persons claiming under Tenant, except such as is caused by the sole negligence or willful misconduct of Landlord, its agents, employees or contractors, (ii) the negligence or willful misconduct of Tenant in, upon or about the Properly, or (iii) any breach or default by Tenant under this Lease.

 

ARTICLE VII

OPERATING EXPENSES

 

7.1

OPERATING EXPENSES.

 

Tenant will pay Tenant's Pro Rata Share of all Operating Expenses allocable to the Occupancy Period. "Operating Expenses" means all costs and expenses incurred by Landlord with respect to the ownership, maintenance and operation of the Property including, but not limited to: maintenance, repair and replacement of the heating, ventilation, air conditioning, plumbing, electrical, mechanical, utility and safety systems, paving and parking areas, roads and driveways; maintenance of exterior areas such as gardening and landscaping, snow removal and signage; maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; painting; lighting; cleaning; refuse removal; security; utility services attributable to the Common Areas (as defined below); Building personnel costs; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Property; fees for required licenses and permits; a property management fee,; and contributions to reserves for any or all of the foregoing. Operating Expenses do not include: (a) expenditures for capital improvements except (i) those which Landlord anticipates will have the effect of reducing current and/or future Operating Expenses or the rate of increase in Operating Expenses, and (ii) those required by Legal Requirements or insurance requirements; (b) debt service under mortgages; (c) costs of restoration to the extent of net insurance proceeds received by Landlord; (d) leasing commissions and tenant improvement costs; and (e) litigation expenses relating to disputes with tenants.

 

7


 

ARTICLE VIII

USE OF PREMISES

 

8.1

MANNER OF USE.

 

Tenant will use the Premises only for the Permitted Uses. Tenant will not cause or permit the Premises to be used in any way which (i) constitutes a violation of any Legal Requirements (as defined below) or the rules and regulations (the "Rules and Regulations") established by Landlord, a copy of which is attached as Exhibit C , as they may be amended in writing by Landlord, (ii) annoys or interferes with the rights of tenants of the Properly, or (iii) constitutes a nuisance or waste or will invalidate any insurance carried by Landlord. Tenant will obtain and pay for all necessary permits, including a certificate of occupancy, and will promptly take all actions necessary to comply with all applicable Federal, State or local statutes, ordinances, notes, regulations, orders, recorded declarations, covenants and requirements (collectively, "Legal Requirements") regulating the use by Tenant of the Premises, including, without limitation, the Occupational Safety and Health Act and the Americans With Disabilities Act.

 

8.2

ENVIRONMENTAL REQUIREMENTS.

 

(a)         Definition of "Hazardous Material" . "Hazardous Material" means any flammable items, explosives, radioactive materials, oil, hazardous or toxic substances, material or waste or related materials, including any substances defined as or included in the definition of "hazardous substances", "hazardous wastes", "hazardous materials" or "toxic substances" now or hereafter regulated under any Legal Requirements, including without limitation petroleum-based products, paints, solvents, lead, cyanide, DDT, printing inks, acids, pesticides, ammonia compounds and other chemical products, asbestos, PCBs and similar compounds, and including any different products and materials which are found to have adverse effects on the environment or the health and safety of persons; provided, however, "Hazardous Material" does not include any de minimis quantities of office or other cleaning supplies commonly used in accordance with Legal Requirements.

 

(b)         Tenant's Obligations . Tenant will not cause or permit any Hazardous Material to be generated, produced, brought upon, used, stored, treated or disposed of in or about the Property by Tenant, its agents, employees, contractors, sublessees or invitees without (i) the prior written consent of Landlord, and (ii) complying with all applicable Legal Requirements pertaining to the transportation, storage, use or disposal of such Hazardous Material (collectively, "Environmental Laws"), including, but not limited to, obtaining proper permits. Landlord is entitled to take into account such other factors or facts Landlord deems reasonably relevant in granting or withholding consent to Tenant's proposed activity with respect to Hazardous Material. Landlord will not, however, be required to consent to the installation or use of any storage tanks on the Property.

 

If Tenant's transportation, storage, use or disposal of Hazardous Materials results in the contamination of the soil or surface or ground water, release of a Hazardous Material or loss or damage to person(s) or property or the violation of any Environmental Law, then Tenant agrees to: (x) notify Landlord immediately of any contamination, claim of contamination, release, loss or damage, (y) after consultation with Landlord, clean up the contamination in full compliance with all Environmental Laws and (z) indemnify, defend and hold Landlord harmless from and against any claims, suits, causes of action, costs and fees, including, without limitation, attorney's fees and costs, arising from or connected with any such contamination, claim of contamination, release, loss or damage. Tenant will fully cooperate with Landlord and provide such documents, affidavits and information as may be requested by Landlord (A) to comply with any Environmental Law, (B) to comply with the request of any lender, purchaser or tenant, and/or (C) as otherwise deemed reasonably necessary by Landlord in its discretion. Tenant will notify Landlord promptly in the event of any spill or other release of any Hazardous Material at, in, on, under or about the Premises which is required to be reported to a governmental authority under any Environmental Law, will promptly forward to Landlord copies of any notices received by Tenant relating to alleged violations of any Environmental Law, will promptly pay when due any fine or assessment against Landlord, Tenant or the Property and remove or bond any lien filed against the Property relating to any violation of Tenant's obligations with respect to Hazardous Material.

 

8


 

(c)         Landlord's Rights . Landlord will have the right, but not the obligation, without in any way limiting Landlord's other rights and remedies under this Lease, to enter upon the Premises, or to take such other actions as it deems necessary or advisable, to investigate, clean up, remove or remediate any Hazardous Material or contamination by Hazardous Material present on, in, at, under or emanating from the Premises or the Property in violation of Tenant's obligations under this Lease or under any laws regulating Hazardous Material or that Tenant is liable under this Lease to clean up, remove or remediate. Landlord will have the right, at its election, in its own name or as Tenant's agent, to negotiate, defend, approve and appeal, at Tenant's expense, any action taken or order issued by any governmental agency or authority against Tenant, Landlord or the Premises or the Property relating to any Hazardous Material or under any related law or the occurrence of any event or existence of any condition that would cause a breach of any of the covenants set forth in this Section 8.2.

 

If Landlord determines in good faith that a release or other environmental condition may have occurred during the Occupancy Period, at Tenant's cost, Landlord may require an environmental audit of the Premises by a qualified environmental consultant. Tenant will, at it sole cost and expense, take all actions recommended in such audit to remediate any environmental conditions for which it is responsible under this Lease.

 

8.3

LANDLORD'S ACCESS.

 

Landlord or its agents may enter the Premises, upon 24 hours notice to Tenant (except in the case of an emergency), to show the Premises to potential buyers, investors or tenants or other parties, for routine property inspections and maintenance or for any other purpose Landlord deems reasonably necessary. During the last 9 months of the Lease Term, Landlord may place customary "For Lease" signs on the Premises.

 

8.4

COMMON AREAS.

 

(a)         Common Areas . "Common Areas" means all areas within the Property which are available for the common use of tenants of the Property and which are not leased or held for the exclusive use of Tenant or other tenants, including, but not limited to, parking areas, driveways, sidewalks, access roads, landscaping, and planted areas. Landlord, from time to time, may change the size, location, nature, and use of any of the Common Areas, convert Common Areas into leaseable areas, construct additional parking facilities in the Common Areas, and increase or decrease Common Area land or facilities so long as Tenant's use of the Premises is not materially affected.

 

(b)         Use of Common Areas . Tenant will have the non-exclusive right (in common with other tenants and all others to whom Landlord has granted or may grant such rights) to use the Common Areas, including the Parking Spaces, for the purposes intended, subject to such reasonable rules and regulations as Landlord may establish or modify from time to time. Tenant agrees to abide by all such rules and regulations and to use its best efforts to cause others who use the Common Areas with Tenant's express or implied permission to abide by the Rules and Regulations. At any time, Landlord may close any Common Areas to perform any acts as, in Landlord's reasonable judgment, are desirable to maintain or improve the Property. Tenant will not interfere with the rights of Landlord, other tenants, or any other person entitled to use the Common Areas.

 

(c)         Parking . Tenant shall be entitled to park in common with other tenants of Landlord, and receive three (3) nonreserved, unassigned parking spaces for every 1,000 square feet of rentable area of the Premises (i.e., eighty-nine (89) spaces as of the date hereof). Tenant agrees not to overburden the parking facilities, agrees to cooperate with Landlord and other tenants in the use of parking facilities, and to abide by all rules and regulations regarding the use of such parking facilities as may now exist, or as may hereinafter be promulgated by Landlord. Said parking spaces shall be used for parking by vehicles no larger than full-size passenger automobiles or pick-up trucks, herein called "Permitted Size Vehicles." Vehicles other than Permitted Size Vehicles shall be parked and loaded or unloaded as directed by Landlord. Landlord reserves the right, in its absolute discretion, to determine whether parking facilities are becoming overcrowded, and in such event, to allocate parking spaces among tenants or to designate areas within which Tenant must park. Landlord further reserves the right to modify, restripe, and otherwise change the location of drives and parking spaces. Tenant and Tenant's employees, visitors and customers assume all responsibility for damage and theft to vehicles. Tenant shall repair or cause to be repaired, at Tenant's sole cost and expense, any and all damage to the buildings on the Property caused by Tenant's, or Tenant's employees', visitors' or customers' use of such parking areas thereon.

 

9


 

ARTICLE IX

CONDITION AND MAINTENANCE OF PREMISES

 

9.1

EXISTING CONDITIONS.

 

Tenant hereby accepts the Property and the Premises in their present condition, subject to all Legal Requirements. Tenant acknowledges that neither Landlord nor any agent of Landlord has made any representation as to the condition of the Property or the suitability of the Property for Tenant's intended use, and except as specifically set forth herein, no agreement of Landlord to alter, remodel, decorate, clean or improve the Premises or Property (or to provide Tenant with any credit or allowance for the same), have been made by or on behalf of Landlord or relied upon by Tenant. Tenant represents and warrants that Tenant has made its own inspection of and inquiry regarding the condition of the Property and is not relying on any representations of Landlord or any broker with respect thereto. Notwithstanding the foregoing, Landlord, at Landlord's sole cost and expense, shall perform the improvements to the Premises as described on Exhibit D attached hereto and made a pail hereof using building standard materials and finishes ("Landlord's Work"). Landlord estimates that the cost of Landlord's Work is Two Hundred Five Thousand Five Hundred Fifteen and 00/100 ($205,515.00) Dollars. In the event that Tenant requests changes to Landlord's Work which will increase the cost thereof, Tenant shall pay to Landlord any such additional costs (the " Excess Costs ") upon demand by Landlord. Tenant shall provide its own furniture, fixtures, equipment and appliances for the Premises.

 

9.2

LANDLORD'S OBLIGATIONS.

 

Subject to the provisions of Article 10 (Casualty and Condemnation) and Tenant's obligation to pay Additional Rent pursuant to Section 3.2, and except for damage caused by any act or omission of Tenant or Tenant's employees, agents, contractors or invitees, Landlord will maintain the Common Areas in good order, condition and repair and will keep the foundation, roof, building systems (including the heating, ventilating and air conditioning system), structural supports and exterior walls of the improvements on the Property in good order, condition and repair. Landlord will not be obligated to maintain or repair windows, doors or plate glass. Tenant will promptly report in writing to Landlord any defective condition known to it which Landlord is required to repair. Landlord will repair, at Tenant's expense, any damage to the Property caused by Tenant's acts or omissions which is Landlord's maintenance responsibility. In the event that Landlord replaces the heating, ventilating and air conditioning system serving the Premises (after its determination that such replacement is necessary), the cost thereof shall accrue interest at a rate reasonably determined by Landlord and shall be amortized over a term often (10) years, with payments of principal and interest with respect to such replacement cost to be made by Tenant to Landlord


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more