FlORIDA COMMERICAL LEASE AGREEMENT
THIS AGREEMENT, entered into this __day of June, 20___, between CL Development, Inc., hereinafter called the Landlord, and FORTUNE Inc., a Florida Corporation, hereinafter called Tenant or Lessee.
That Landlord does this day lease unto Tenant the premises located at 1730 E. Hollywood Beach Boulevard, Space A & B, Hollywood, Florida 33009. To have and to hold said premises for the term beginning June ____, 20___ and ending September 30, 20___, at an agreed total rental as follows:
June through September 20____ = $1,904.06, plus applicable sales tax and charges.
Thereafter, commencing October 1, 20____, and each October 1st thereafter the rent for shall be adjusted based on either an increase In the Consumer Price Index (CPI) or three percent (3%) of the prior years rent, whichever is greater. Rent shall be due and payable the first day of each month.
The adjustment of rent will be the product of the prior year's monthly rent multiplied by a
fraction, the numerator of which is the comparison index and the denominator of which is
the base index.
The term CPI means the Consumer Price Index for All Urban Consumers, Southern
Region, All Items (1982-84 = 100) published by the Bureau of Labor Statistics of the U.S.
Department of Labor. If the CPI ceases to use 1982-84 = 100 as a base, or if the CPI is
altered, modified, converted, or revised in any way, the CPI will be adjusted to the figure
that would have resulted had the change not occurred. If the CPI ceases to be
published, any substitute or successor equivalent index published by any agency of the
U.S. will be used.
The term "base index" means the CPI in effect for August 20__ (the “Base Date”). The term "comparison index" means the CPI in effect for each August, thereafter.
IT IS FURTHER AGREED AND COVENANTED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:
SECURITY 1. Tenant, concurrently with the execution of this lease, has deposited with Landlord the sum of two-thousand and 00/100 dollars, ($2,000.00) the receipt of which is hereby acknowledged by the Tenant and for the faithful performance by Tenant of the terms and covenants of this lease. It is agreed that Landlord, at Landlord's option, may at any time apply said sum or any part thereof toward the payment of the rents and all other sums payable by Tenant under this lease, and towards, the performance of each any every of Tenant's covenants under this lease, by such covenants and Tenant's liability under this lease shall thereby be discharged only pro tanto; that Tenant shall remain liable for any amounts that such sum shall be insufficient to pay; that Landlord may exhaust any or all rights and remedies against Tenant before resorting to said sum, but nothing herein contained shall require or be deemed to require Landlord so to do; that, in the event this deposit shall not be utilized for any such purposes, then such deposit shall be returned by Landlord to tenant within ten days next after the expiration of the term of this lease. Landlord shall not be required to pay Tenant any interest on said security deposit and Landlord shall not be required to maintain said security deposit in a separate and/or special security deposit account.
ASSIGNMENT 2. Without the written consent of Landlord first obtained in each case, Tenant shall not assign, transfer, mortgage, pledge, or otherwise encumber or dispose of this lease or the term thereof, or underlet the demised premises or any part thereof or permit the premises to be occupied by other persons. A transfer of stock control in Tenant, if Tenant is a corporation, or the transfer of any partnership interest in Tenant, if Tenant is a partnership, shall be deemed an act of assignment hereunder. If this lease be assigned, or if the demised premises or any part thereof be underlet or occupied by anybody other than the tenant, the Landlord may, after default by the tenant, collect rent form the assignee, undertenant, or occupant and apply the net amount collected to the rent herein reserved, but no such collection shall be deemed a waiver of this covenant, or the acceptance of the assignee, undertenant, or occupant as tenant or a release of the tenant from the further observance and performance by the tenant of the covenants herein contained.
EXAMINATION
OF PREMISES 3. Tenant having examined the premises is familiar with the condition thereof and relying solely on such examination will take them in their present condition (as is), unless otherwise expressly agreed upon in writing.
USE 4. The premises shall be used by tenant as a convenience store and for no other purposes or uses whatsoever, and further, tenant agrees to use the entire leased premises as herein above provided. The Landlord will not lease to any party who will conduct as its principal business a video retail/wholesale sales operation and/or card collectible game sales.
ALTERATIONS 5. Without landlord's prior written consent, Tenant shall not make or cause to be made any exterior, structural, electrical, ventilation, air conditioning or other type of alterations, improvements, additions, changes or repairs in or to the Premises or the Building. As a condition to granting its consent, Landlord may impose reasonable requirements including, without limitation, requirements as to the manner and time for the performance of any such work and the type and amount of insurance and bonds Tenant must acquire and maintain in connection therewith. In addition, at Landlord's option, landlord shall have the right: to approve the contractors or mechanics performing the work; to approve all plans and specifications relating to the work; to review the work of Tenant's architects, engineers, contractors or mechanics and to control any construction or other activities being undertaken within the Building. Except as expressly provided herein, all alterations, improvements, additions, changes or repairs shall be provided by and paid for by Tenant at its sole expense, but shall become the property of Landlord and shall be surrendered with the Premises upon termination of this Lease.
b. All damage or injury to the premises caused by the acts or negligence of tenant or its employees, agents, representatives, visitors or invitees, shall be promptly repaired by tenant at tenant's expense and to the satisfaction of landlord in accordance with this Article 5. Should tenant not make any such repairs promptly, landlord, at landlord' s option, may make or cause to be made, any such repairs and may charge tenant for any costs and expenses paid or incurred by landlord in connection therewith.
There shall be no reduction in rent payable by tenant and no liability on the part of landlord by reason of inconvenience, annoyance or injury to business arising from the making of any repairs, alterations or improvements to any portion of the building or premises, or fixtures and equipment related thereto, and no liability on the part of landlord for failure to make repairs, alterations or improvements to the building or premises, or any fixtures and equipment related thereto, which are necessitated by reason of the act or negligence of any other tenant or occupant of the building.
c. All work in connection with any alterations, improvements, changes, additions or repairs in the Premises or the Building made by or for the benefit of Tenant shall be performed in full compliance with all laws, ordinances, regulations, rules and requirements of all governmental entities having jurisdiction and in full compliance with all rules, orders, directions, regulations and requirements of the Fla. Fire Rating Bureau or any similar organization. If there is now or if there shall be installed in the building a sprinkler system, and if the Fla. Fire Rating Bureau or other similar body or any governmental authority having jurisdiction requires or recommends that any changes, modifications, alterations, additional sprinkler heads or other equipment be made or supplied by reason of Tenant's business or the improvements it has added or the location of partitions, trade fixtures or other contents of the Premises, or if any such changes, modifications, alterations, additions or other equipment become necessary to prevent imposition of a penalty or charge against the full allowance for a sprinkler system in the fire insurance rate as fixed by said Bureau or by any fire insurance company, Tenant shall at its own cost, promptly make and supply all such changes, modifications, alterations, additional sprinkler heads or other equipment.
Tenant shall have the right to make certain cosmetic changes without prior consent, i.e. wall colors, coverings,. floor and the like. No structural changes shall be made without the prior written consent of Landlord.
d. Before work is commenced as provided in this Article 5, Tenant shall give Landlord at least five (5) days' written notice to afford Landlord an opportunity to post appropriate notices of non-responsibility. Any mechanic's liens for work claimed to have been performed for, or materials claimed to have been furnished to Tenant shall be discharged by Tenant, by bond or otherwise, within ten (10) days after the filing of such lien, at Tenant's sole expense. Tenant agrees to indemnify, hold harmless and defend Landlord from any loss, cost, damage or expense, including reasonable attorneys' fees, arising out of any such lien claim or out of any other claim relating to work done or materials supplied to the Premises at Tenant's request or on Tenant's behalf.
EXTERIOR 6. Tenant agrees to keep all of the exterior parts of said premises in good repair at all times. If any part of the exterior or interior of the premises is injured or damaged by any breaking and/or entering said premises, or by any attempt to break and/or enter said premises, by any third person or persons, Tenant agrees to promptly cause all necessary repairs to be made at tenant's expense so as to promptly restore said premises to its condition immediately prior to said breaking and/or entering or said attempt to break and/or enter. The Lessor is responsible to keep and maintain electrical services and water and sewer lines to the leased premises unless damage to the foregoing is caused by Tenant, its agents, employees or invitees. Landlord is responsible for repair of structural damage to exterior of premises for normal wear and tear, forced entry damage is paid for by tenant. Landlord shall maintain the exterior of the building, excluding the air conditioning unit for the Leased premises.
Lessee agrees to immediately upon demand correct any damage to water apparatus, septic tanks, drain fields, grease traps, electric lights or any fixtures, appliances or appurtenances of said premises or of the building, caused by the act or neglect of the lessee or any person or persons in the employ of or under control of the lessee.
Lessee shall collect and dispose of, at Lessee's sole cost and expense, all refuse and trash from items sold by Lessee which are found on the common areas of the building, including the walkways and parking lot.
INTERIOR 7. Tenant agrees to keep the interior of said premises, all windows, screens, awnings, doors, including overhead truck loading doors, interior walls, pipes, elevators, machinery, plumbing, electric wiring, and other fixtures and interior appurtenances, in good and substantial repair and clean condition at Tenant's own expense- fire, windstorm, or other acts of God, alone excepted. All glass, both interior and exterior, is at the sole risk of Tenant and Tenant agrees to replace at Tenant's own expense, any glass broken during the terms of this lease, and the Tenant agrees to insure and to keep insured, all plate glass in the demised premises and to furnish the Landlord with certification of said insurance. It is hereby understood and agreed that in the event that there is an air conditioner unit (or units) in the demised premises, the Tenant shall maintain the same during the term of this lease and shall return said unit (or units) to the Landlord at the termination of this lease in good working order, reasonable wear and tear excepted.
REGULATIONS AND INSURANCE 8. Tenant shall promptly execute and comply with all statutes, ordinances, rules, orders, regulations and requirements of the Federal, State and City Government, and of any and all their Departments and Bureaus, applicable to said premises for the correction, prevention, and abatement of nuisances or other grievances, in, upon, or connected with said premises, during said terms, and shall also promptly comply with and execute all rules, orders and regulations of the Southeastern Underwriters Association for the prevention of fires, at Tenant's own cost and expense. Tenant agrees to carry $100,000/$300,000 dollars Public liability and Property Damage insurance naming landlord as additional insured with respect to the demised premises. Proof of such coverage shall be sent to Landlord within 15 days of Tenant's occupancy of the demised premises.
Lessor shall maintain and pay for Insurance upon the Lessor’s Building and the common areas (excluding Tenant improvements and property required to be insured by tenant as set forth above); however the premium for demised premises for the year 1999 shall be deemed to be the base premium. In the event there is an increase in the base premium, then the Lessee shall pay his proportionate share of the increase. Said percentage to be calculated by dividing the Lessee's share of the square footage of the building by the space in the entire building. The Lessee shall be required to pay to Lessor, within fifteen (15) days after the insurance is due and payable, the increase in the base premium. All sums due hereunder shall be deemed as additional rent. In the event Tenant fails to pay Lessor the amounts due hereunder, then Tenant shall be in default of this Agreement and Landlord may exercise its rights in accordance with Article 18. of this Agreement.
ABANDONMENT 9. If Tenant shall abandon or vacate said premises before the end of the term of this lease, or shall suffer the rent to be in arrears, Landlord may, at his option, cancel this lease, or Landlord may enter said premises as the agent of Tenant, by force or otherwise, without being liable in any way therefore, and relet the premises with or without any furniture or equipment that may be therein, as the Agent of Tenant, at such price and upon such terms and for such duration of time as Landlord may determine, and receive the rent therefore, applying the same to the payment of the rent due by these presents, and if the full rental herein provided shall not be realized by Landlord over and above the expenses to Landlord in such reletting, Tenant shall pay any deficiency.
ASSIGNMENT OF CHATTELS 10. Tenant hereby pledges and assigns to Landlord all the furniture, fixtures, goods and chattels of Tenant which shall or may be brought or put on said premises as security for the payment of said rent, and Tenant agrees that said lien may be enforced by distress, foreclosure or otherwise, at the election of Landlord. It is understood and agreed that any merchandise, fixtures, furniture or equipment left in the premises when Tenant vacates shall be deemed to have been abandoned by Tenant and by such abandonment Tenant automatically relinquishes any right or interest therein. Landlord is authorized to sell, dispose of or destroy same.
FIRE 11. In the event the premises shall be destroyed or so damaged or injured by fire or other casualty, during the life of this agreement, whereby the same shall be rendered untenantable, then Landlord shall have the right to render said premises tenantable by repairs within ninety days therefrom. If said premises are not rendered tenantable within said time, it shall be optional with either party hereto to cancel this lease, and in the event of such cancellation the rent shall be paid only to the date of such fire or casualty. The cancellation herein mentioned shall be evidenced in writing. During any time that the premises are untenantable due to causes set forth in this paragraph, the rent or a just and fair proportion thereof shall be omitted.
PERSONAL PROPERTY 12. All personal property placed or moved in the premises above described shall be at the risk of Tenant or the owner thereof, and Landlord shall not be liable to Tenant or the owner thereof for any damages to said personal property unless caused by or due to gross negligence of Landlord, Landlord's agents or employees.
CHARGES FOR SERVICES 13. It is understood and agreed between the parties hereto that any charges against Tenant by Landlord for services, utilities or for work done on the premises by order of Tenant, or otherwise accruing under this lease, shall be considered as rent due and shall be included in any lien for rent.
SIGNS, AWNINGS 14. No signs shall be installed on the exterior of, or adjacent to, the Premises or the Building without the written approval of the Landlord. All signs which are erected on the Premises shall be in accordance with the building standard designated by Landlord and subject to Landlord's prior written approval. The Landlord reserves the right, at the Tenant's sole expense, to remove any sign which is installed by or on behalf of the Tenant without the Landlord's prior written approval. The installation and maintenance of any and all signs by or on behalf of Tenant shall be in full compliance with all applicable laws, ordinances, regulations, rules and orders of any governmental authority having jurisdiction, and Tenant shall obtain all necessary licenses and permits in connection therewith. Tenant shall install and promptly repair, maintain and service all such signs in accordance with proper techniques and procedures, and shall indemnify, hold harmless and defend Landlord from all loss, cost, damage or expense, including attorney's fees, arising out of any claim relating to the installation, existence, operation, maintenance, repairs, removal or condition of any such sign. On or before the termination of this Lease, Tenant shall, at its sole expense, remove all such signs in a manner satisfactory to Landlord and shall immediately repair, at Tenant's sole expense, any injury or damage caused by removal. All costs and expenses relating to all such signs shall be borne solely by Tenant. The Landlord reserves the right to remove any sign temporarily for the purpose of painting or making repairs to the premises.
RIGHT OF ENTRY 15. With reasonable notification to Tenant, Landlord, or any of his agents, shall have the right to enter said premises during all reasonable hours to examine the same or to make such repairs, additions, or alterations as may be deemed necessary for the safety, comfort, or preservation thereof, or of said building, or to exhibit said premises, and to put or keep upon the doors or windows thereof a notice "FOR RENT" at any time within thirty (30) days before the expiration of this lease. Said right of entry shall likewise exist for the purpose of removing placards, signs, fixtures, alterations, or additions which do not conform to this agreement.
TIME 16. It is understood and agreed between the parties hereto that time is the essence of all of the terms and provisions of this lease.
NOTICES 17. It is understood and agreed between the parties hereto that written notice addressed to Tenant and mailed or delivered to the premises leased hereunder shall constitute sufficient notice to the Tenant, and written notice addressed to Landlord and mailed or delivered to the office of Landlord shall constitute sufficient notice to the Landlord, to comply with the terms of this lease.
NON-PAYMENT 18. Tenant agrees: That tenant will promptly pay said rent at the times above sated; that Tenant will pay all charges for gas, electricity, other illuminant, water, waste collection and sewer charges, used on the premises during the terms of this lease; that, if any part of the rent shall remain due and unpaid for seven days next after the same shall become due and payable, Landlord shall have the option of declaring the balance of the entire rental term of this lease to be immediately due and payable, and landlord may then proceed immediately to collect all of the unpaid rent called for by this lease by distress or otherwise.
18-A. Immediately following the Tenant's failure to pay rental due within the above seven day limit, Landlord shall have the right to enter upon the premises and place and thereafter maintain a "FOR RENT" sign in a place where the sign would be most likely seen by the public.
18-B. In the event that, at the commencement of the term of this lease, Tenant shall be in default in the payment of rent to Landlord pursuant to the terms of a prior lease with Landlord or with Landlord's predecessor in interest, Landlord may at Landlord's option and without notice to Tenant add the amount of such arrearages to any monthly installment of rent payable hereunder and the same shall be payable to Landlord as additional rent.
18-C. The prompt payment of rent for said premises upon the dates named, and the faithful observance of the covenants are the conditions upon which the lease is made and accepted and any failure on the part of the Lessee to comply with the terms of said lease shall, at the option of the Lessor, work a forfeiture of this contract, and all of the rights of the Lessee hereunder, and thereupon the Lessor, his agents or attorneys, shall have the right to enter said premises and remove all persons therefrom forcibly or otherwise, and the Lessee thereby expressly waives any and all notice required by law to terminate tenancy, and also waives any and all legal proceedings to recover possession of said premises, and expressly agrees that in the event of a violation of any of the terms of this lease, or of said rules and regulations, now in existence, said lessor, his agent or attorneys, may immediately re-enter said premises and dispossess Lessee without legal notice or the institution of any legal proceedings whatsoever.
INDEMNIFY
LANDLORD 19. In consideration of said premises being leased Tenant for the above rental, Tenant agrees; that Tenant, at all times, will indemnify and hold harmless Landlord from all losses, damage, liabilities and expenses, which may arise or be claimed against Landlord and be in favor of any person, firm or corporation, for any injuries to damages to the person or property of any person, firm or corporation, consequent upon or arising from the use or occupancy of said premises by Tenant, or consequent upon or arising from any acts, omissions, neglect or fault of Tenant (his agents, servants, employees, licensees, customers or invitees), or consequent upon or arising from Tenant's failure to comply with the aforesaid laws, statutes, ordinances or regulations; that Landlord shall not be liable to Tenant for any damages, losses or injuries to the person or property of Tenant which may be caused by the acts, neglect, omissions or faults of any person, firm or corporation, and that Tenant will indemnify and keep harmless Landlord from all damages, liabilities, losses, injuries, or expenses, which may arise or be claimed against Landlord and be in favor of any person, firm or corporation, for any injuries or damages to the person or property of any person, firm or corporation, where said injuries or damages arose about or upon said premises.
BANKRUPTCY/
DEFAULT 20. It is agreed between the parties hereto: If Tenant shall be adjudicated a bankrupt or an insolvent or take the benefit of any federal reorganization or composition proceeding or make a general assignment or take the benefit of any insolvency law, or if Tenant's leasehold interest under this lease shall be sold under any execution or process of law, or if a trustee in bankruptcy or a receiver be appointed or elected or had for Tenant (whether under federal or state laws), or if said premises shall be abandoned or deserted, or if Tenant shall fail to perform any of the covenants or conditions of this lease on Tenant's part to be performed, or if this lease or the terms hereof be transferred or pass to or devolve upon any person, firm, officer or corporation other than Tenant, then and in any of such events this lease and the term of this lease, at Landlord's option, shall expire and end, seven days after Landlord shall give Tenant written notice (in the manner hereinabove provided) of such act, condition or default and Tenant hereby agrees immediately to then quit and surrender said premises to Landlord; but this shall not impair or affect Landlord's right to maintain summary proceedings for the recovery of the possession of the demised premises in all cases provided for by law. If the term of this lease shall be so terminated, Landlord may immediately or at any time thereafter re-enter or re-possess the premises and remove all persons and property therefrom without being liable for trespass or damages.
WAIVER 21. No waiver of any condition or covenant of this lease by Landlord shall be deemed to imply or constitute a further waiver by Landlord of the same or any other condition or covenant of this lease. The rights and remedies created by this lease are cumulative and the use of one remedy shall not be taken to exclude or waive the right to the use of another. The failure on the part of the Landlord to promptly exercise any of its rights under the terms of this lease shall not operate or be deemed to waive or forfeit any of the said rights.
PEACEFUL
POSSESSION 22. Subject to the terms, conditions and covenants of this lease, Landlord agrees that Tenant shall and may peaceably have, hold and enjoy the premises above described, without hindrance or molestation by Landlord.
RIGHT TO
MORTGAGE
OR LEASE 23. Tenant's rights shall be subject to any bonafide mortgage which now covers said premises or which may hereafter be placed on said premises by Landlord. Tenant agrees to promptly and upon demand execute a Subordination Agreement and/or Estoppel Letter in such form as a Lender and or Landlord may reasonably require.
HEIRS AND
ASSIGNS 24. This lease and all provisions, covenants and condition thereof shall be binding upon and inure to the benefit of the heirs, legal representatives, successors and assigns of the parties hereto, except that no person, firm, corporation, or court officer holding under or through Tenant in violation of any of the terms, provisions or conditions of this lease, shall have any right, interest or equity in or to this lease, the terms of this lease or the premises covered by this lease.
BEYOND
LANDLORD'S
CONTROL 25. None of the acts, promises, covenants, agreements or obligations on the part of the Tenant to be kept, performed or not performed as the case may be, nor the obligation of the Tenant to pay rent and/or additional rent or other charge or payment shall be in anyway waived, impaired, excused or affected by reason of the Landlord being unable at any time or times during the term of this lease to supply, or being prevented from, or delayed in supplying heat, light, elevator service, or any other service expressly or implied on the part of the Landlord to be supplied, or by reason of the Landlord being unable to make any alterations, repairs or decorations or to supply any equipment or fixtures, or any other promise, covenant, agreement or obligation on the part of the Landlord to be performed, if the Landlord's inability or delay shall arise by reason of any law, rule or regulation of any Federal, State, Municipal or other governmental department, agency or subdivision thereof, or by reason of conditions of supply and demand due to National Emergency or other conditions or causes beyond the Landlord's control.
EMINENT
DOMAIN 26. In the event any portion of said leased premises is taken by any condemnation or eminent domain proceedings, the (minimum) monthly rental herein specified to be paid shall be ratably reduced according to the area of the leased premises which is taken, and tenant shall be entitled to no other consideration by reason of such taking, and any damages suffered by Tenant on account of the taking of any portion of said leased premises and any damages to structures erected on said premises, respectively, that shall be awarded to Tenant in said proceedings shall be paid to and received by Landlord, and tenant shall have no right therein or thereto to any part thereof, and tenant does hereby relinquish and assign to Landlord all of Tenant's rights and equities in and to any such damages. Any rental based upon the percentage of gross sales specified in this lease to be paid shall in no way be reduced or affected by the taking of any portion of the premises by condemnation or eminent domain proceedings. Should all of the leased premises be taken by eminent domain, then and in the event Tenant shall be entitled to no damages or any consideration by reason of such taking except that cancellation and termination of this lease as of the date of said taking.
SURRENDER
PREMISES 27.Tenant agrees to surrender to Landlord, at the end of the term of this lease and/or upon any cancellation of this lease, said leased premises in as good condition as said premises were at the beginning of the term of this lease, ordinary wear and tear excepted. Tenant agrees that, if Tenant does not surrender to Landlord, at the end of the term of this lease, or upon any cancellation of the term of this lease, said leased premises, then Tenant will pay to Landlord all damages that Landlord may suffer on account of Tenant's failure to so surrender to Landlord possession of said lease premises, and will indemnify and save landlord harmless from and against all claims made by any succeeding tenant of said premises against Landlord on account of delay of Landlord in delivering possession of said premises to said succeeding tenant so far as such delay is occasioned by failure of Tenant to so surrender said premises. Any holding over by the Tenant after the termination or expiration of the Tenant's term shall be deemed to be an unlawful detainer.
LIENS 28. Tenant further agrees that tenant will pay all liens of contractors, subcontractors, mechanics, laborers, materialmen and other items of like character, and will indemnify Landlord against all legal costs and charges, bond premiums for release of liens, including counsel fees reasonably incurred in and about the defense of any suit in discharging the said premises or any part thereof from any liens, judgments, or encumbrances caused or suffered by tenant. It is understood and agreed between the parties hereto that the costs and charges above referred to shall be considered as rent due and shall be included in any lien for rent.
The Tenant herein shall not have any authority to create any liens for labor or material on the Landlord's interest in the above described property and all persons contracting with the Tenant for the destruction or removal of any building or for the erection, installation, alteration, or repair of any building or other improvements on the above described premises and all materialmen, contractors, mechanics, and laborers, are hereby charged with notice that they must look to the Tenant and to the Tenant's interests only in the above described property to secure the payment of any bill work done or material furnished during the rental period created by this lease.
PROPERTY TAX 29. Lessor shall pay the real estate taxes upon demised property; however the assessment for demised premises for the year 1988 shall be deemed to be the base assessment. In the event there is an increase in the base assessment, then the Lessee shall pay his proportionate share of the increase. Said percentage to be calculated by dividing the Lessee's share of the square footage of the building by the space in the entire building. The Lessee shall be required to pay to Lessor, within fifteen (15) days after the taxes are due and payable, the increase in the base assessment. All sums due hereunder shall be deemed as additional rent. In the event Tenant fails to pay Lessor the amounts due hereunder, then Tenant shall be in default of this Agreement and Landlord may exercise its rights in accordance with Article 18. of this Agreement.
WATER DAMAGE 30. It is expressly agreed and understood by and between the parties to this agreement, that the Landlord shall not be liable for any damage or injury by water, which may be sustained by the said Tenant or other person or for any other damage or injury resulting from the carelessness, negligence, or improper conduct on the part of any other tenant or agents, or employees, or by reason of the breakage, leakage, or obstruction of the water, sewer or soil pipes, or other leakage in or about the said building, including its roof.
PARKING AND
PAVED AREA 31. The Lessee and it's employees shall park their vehicles in an area designated by the Landlord, in the Landlord's sole discretion. The Lessee may not carry on any business in parking or landscaped areas of the building but the same shall not be construed so as to prohibit loading or unloading of trucks and other vehicles or emergency repairs to any of its vehicles. The parking area is to be used only for the parking of automotive vehicles.
The lessee at its own expense shall at all times keep the paved area located directly in front of the leased premises, and all abutting areas surrounding the building, broom clean and free of any encumbrances, merchandise, dirt, trash and rubbish.
TAXES 32. Tenant hereby agrees to pay to Landlord simultaneously with the rent due hereunder all taxes in the nature of sales, use, or similar taxes now or hereafter assessed or levied by any taxing authority upon the payment of fixed rent and additional rent and which the Landlord is required or permitted to collect from Tenant. Failure to pay such taxes to Landlord shall be deemed a material breach of this lease.
LATE PENALTY 33. Lessee agrees to pay a $150.00 late charge for any rental that is past due after the 7th of the month, plus the cost of collection and reasonable attorneys' fees for any part of said rental or charge that may be collected by suit or by attorney. All late charges imposed upon Tenant shall be considered as rent due and shall be included in any lien for rent.
FINANCIAL 34. Tenant will supply Landlord with credit references and financial information.
HAZARDOUS
SUBSTANCES 35. Tenant shall not suffer, cause or permit any "Hazardous Substances" (as hereinafter defined) to be brought upon, used, stored, generated, discharged or disposed of on, about or in the Premises by Tenant or Tenant's agents, contractors, employees, invitees or any other person or entity without first obtaining Landlord's prior written consent. If such consent is given, or if Tenant defaults in the foregoing requirements of this paragraph; then Tenant, at Tenant's sole expense, shall (i) at all times comply in all respects with all laws, regulations, rules or requirements applicable to all Hazardous Substances now or hereafter on, about or in the Premises and otherwise prevent any and all damage to the Premises and all other property everywhere due to any Hazardous Substances which are ever located on, about or in the Premises, (ii) defend with counsel selected by Landlord, indemnify and hold harmless the Landlord from and against any and all demands, claims, damages, fines, judgments, penalties. requirements (both governmental and otherwise) settlements, costs (including, without limitation, attorney's fees, court costs, consultants fees and all other litigation related expenses), liabilities, liens or losses arising as a result of any contamination or other loss of every nature directly or indirectly resulting from the presence of such Hazardous Substances on, about or in the Premises (including, without limitation, a decrease in value of the Premises or of any other property, damages caused by adverse impact on marketing of the space involved, and any and all sums paid for settlement of claims, attorneys' fees, consultant and expert fees) and regardless of whether such contamination or loss becomes known during or after the term of this lease expires and (iii) if any actual or threatened contamination or loss covered by this paragraph occurs, or if the claim thereof is made, Tenant shall, at the sole risk and expense of Tenant, promptly and in compliance with all applicable laws, regulations, rules and requirements, take any and all necessary actions (after first obtaining Landlord's prior written consent to the specific actions Tenant proposes to take) to unconditionally satisfy such claim and remove and/or correct such contamination or loss and otherwise return the Premises and all other affected property and affected parties to their condition existing immediately prior to such contamination or loss or the claim or threat thereof. At Tenant's expense, Tenant shall, as soon as possible after curing any said contamination or loss or the claim or threat thereof, deliver to Landlord an unconditional certification from an environmental engineer approved by Landlord. Such certification shall set forth (A) that the complete removal has occurred of all Hazardous Substances which violate applicable law, regulations, rules or requirements or this paragraph or which have caused damage to the Premises or otherwise, together with the complete repair of all damage caused by such Hazardous Substances or the removal thereof, (B) that such removal was accomplished in accordance with all applicable laws, regulations, rules and requirements, (C) that the complete repair and restoration of the Premises and all other affected property has occurred in accordance with all applicable laws, regulations, rules and requirements and (D) such other matters as Landlord shall request. Said certification must be in form and content satisfactory to Landlord in all respects. The foregoing indemnification includes, without limitation, any and all costs incurred because of any investigation of the Premises or any other affected property or any cleanup, removal or restoration mandated by a federal, state or local agency or political subdivision thereof or otherwise by virtue of authority granted pursuant to applicable law, regulation, rule or requirement. As used herein, the term "Hazardous Substances" means any substance that is toxic, ignitable, reactive or corrosive and that is regulated by any local, state or federal government or any agency thereof or any other instrumentality pursuant to or as a result of applicable law, regulation, rule or requirement. Hazardous Substances includes, without limitation, any and all materials or substances that are defined as "hazardous waste", "extremely hazardous waste", or a "hazardous substance" pursuant to state, federal or local governmental law, regulation, rule or requirement or otherwise become a material or substance regulated by any federal, state or local governmental law, regulation, rule requirement. "Hazardous Substances" further includes, but is not restricted to,(i) asbestos, (ii) polychlorinated biphenyls ("PCBs") (iii) any 'hazardous waste" as defined by the Resource Conservation and Recovery Act of 1976, as amended from time to time, and all regulations promulgated thereunder and requirements issued pursuant to authority therein granted, (iv) any "hazardous substance" as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended from time to time, and regulations promulgated thereunder, (v) any "oil, petroleum products, and their by-products" and (vi) any substance which is or becomes regulated by any federal, state or local governmental law, regulation, rule or requirement.
HEADINGS 36. The headings for each paragraph herein contained are for convenience only and are not an integral part of the paragraph involved or of this lease.
PREPAID RENT &
SECURITY DEPOSIT 37. Upon execution of this Lease, Tenant will deposit with Landlord the amount of $2,000.00, which represents the Security in accordance with Paragraph 1. hereinabove.
TRASH 38. Tenant is responsible for his own trash and any charges related thereto. In the event a common trash container(s) is used for the shopping plaza, tenant will be responsible for its prorata share of the container based on the number of tenants in the plaza which shall be considered as rent due and shall be included in any lien for rent.
WATER &
SEWER 39. In addition to rent, Tenant shall pay fifty ($50.00) dollars per month to Landlord for Water and Sewer usage which shall be considered as rent due and shall be included in any lien for rent.
DELIVERY 40. All delivery trucks are to be instructed to enter the rear of the building and make all deliveries through the back of the premises. No trucks delivering any goods to the premises shall enter the front parking or driving area of the building.
MEMORANDUM
OF LEASE 41. This Lease shall not be recorded by either party; however, at Landlord's option a Memorandum of Lease referring to this Lease shall be executed and acknowledged by Landlord and Tenant and shall be recorded in the office of the County Recorder of Broward County.
ATTORNEY'S FEES 42. Tenant agrees to pay all cost and expenses of collection and reasonable Attorney's fees on any part of said rental that may be collected by an Attorney, suit, distress, or foreclosure. Tenant further agrees to pay all costs, expenses and reasonable attorney's fees incurred by Landlord due to the breach of any of the terms and conditions of this lease by Tenant.
CONSTRUCTIVE
EVICTION 43. No eviction of Tenant by Landlord or acceptance by Landlord of Tenant's surrender of the Premises shall be valid unless in writing and signed by Landlord, and no other act or thing done by Landlord or its agents during the term hereof shall constitute an eviction or an acceptance of surrender.
CONSTRUCTION 44. The language in all parts of this Lease shall be in all cases construed according to its first meaning and not strictly for or against Landlord or Tenant. If any term, covenant, condition or provision of this Lease is held by a court of competent jurisdiction to be invalid, void or unreasonable, the remainder of the provisions hereof shall remain in full force and effect and in no way be affected, impaired or invalidated thereby.
GOVERNING LAW 45. This Lease shall be governed by and construed in accordance with the laws of the State of Florida.
WRITTEN AGREEMENT 46. This lease contains the entire agreement between the parties hereto and all previous negotiations leading thereto, and it may be modified only by an agreement in writing signed and sealed by Landlord and Tenant. No surrender of the demised premises, or of the remainder of the term of this lease, shall be valid unless accepted by Landlord in writing.
OPTION TO RENEW 47. Provided Tenant has not defaulted in respect to any provision of this Lease and Tenant provides written notice to the Landlord 120 days before the expiration of the lease term or any option period, as the case may be, Landlord agrees to allow Tenant two (2), five (5) year option to renew this Lease, hereinafter call the "Option Period." Tenant's failure to provide timely notice, shall void Tenant's rights under this paragraph. The Option Period shall have annual increases in the rent above the prior year’s rent, beginning with the first year of the Option Period, based on a proportionate increase in the Consumer Price Index (CPI) or three percent (3%), whichever is greater. CPI shall be defined as provided in this Lease Agreement. During the Option Period all provisions of this Lease shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have hereunto executed this instrument the day and year written above.
Signed, sealed and delivered in the presence of :
LANDLORD:
CL DEVELOPMENT, INC.
By:
its Vice-President
TENANT:
Fortune, INC.
By:
Its:
This document is a sample Florida Commercial Lease Agreement related to a specific set of facts and circumstances and should not be used for any commerical lease matter. This form is being provided for illustrative purposes only and should not be relied upon as legal advice. We recommend and urge you to consult with an experienced real estate lawyer for professional advice as each case is unique and the law is constantly changing. All Rights Reserved.
Additional Representations, Warranties and Disclaimer.
UNLESS OTHERWISE MUTUALLY AGREED TO BY THE PARTIES IN WRITING, WE OFFER THIS DOCUMENT AS-IS AND WE MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND CONCERNING THE FORM, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF TITLE, MERCHANTIBILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT, OR THE ABSENCE OF LATENT OR OTHER DEFECTS, ACCURACY, OR THE PRESENCE OF ABSENCE OF ERRORS, WHETHER OR NOT DISCOVERABLE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO SUCH EXCLUSION MAY NOT APPLY TO YOU.
Additional Limitation on Liability.
EXCEPT TO THE EXTENT REQUIRED BY APPLICABLE LAW, IN NO EVENT WILL WE BE LIABLE TO YOU ON ANY LEGAL THEORY FOR ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES ARISING OUT OF THIS DOCUMENT OR THE USE OF THIS DOCUMENT, EVEN IF WE HAVE ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
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