2009-06-10 CC Packet W/Handouts - Laserfiche WebLink

Home Browse Search

forth in Paragraph Two above, Seller will purchase from Buyer the physical inventOly in the store valued on the effective opt out date as set forth in Paragraph Two above. The purchase price which Seller shall pay for the inventory shall be determined as follows S>JJ~r Wlu;-i ~I;rch",'" ,d'lau.+ '_ (..f....qi 13..,1."'- I,!//,j('f' iJewt' {f;:-IU'lJ~ 1'1 ..L/lVfY7tv/7 (if I1u! 1-tw": ,y'/-' 0<,5'"", 5. Late Pavment Penalty. If Buyer does not pay the lease payment by the ID th of each month, Buyer sha1l pay to seller a late penalty in accordance with the Penalty Schedule attached hereto. BUYER AND SELLER. SPECIFICALLY AGREE lHAT SELLER MAY CANCEL TIllS LEASE IF BUYER IS MORE THAN FORTY-SIX (46) DAYS LATE IN MAKING PA YMENTFOR ANY GIVEN MONTH. 6. Buve(s OblilWions, Buyer hereby agrees to be bound by the following terms and conditions of this Lease agreement: a. Liquor License. Buyer will maintain a valid liquor license at all times during the duration of this Lease. b. Insurance, For the entire duration of this Lease Agreement, Buyer shall be responsible for 1I"1IIinhoining Dram ShoplThird Party liability insurance on the Business in an amount no less than . Buyer will, upon Seller's request, provide Seller with written verification of such insurance. c. Buver's Card. For the entire duration of this Lease Agreement, Buyer shall have a valid Buyer's Card. Buyer will, upon Seller's request, provide Seller with written verification of said Buyer's Card. d Tax StamD. For the entire duration of this Lease Agreement, Buyer sba11 possess and maintain a "Special Tax Stamp". Buyer wil~ upon Seller's request, provide Seller with written verification of said "Special Tax Stamp". e. Good Faith Purch- Efforts. Buyer specifically agrees that Buyer will make good faith efforts to obtain financing to exercise the Option to Purchase herein within the first three (3) years of the term oftbis Lease Agreement. f. Relocation. Buyer agrees not to relocate the business without the written consent of Seller. g. Mail1tenance. Buyer agrees to keep the Business and the equipment in the Business in good working order throughout the duration of this Lease Agreement h. Alterations. Buyer agrees not to make any alterations to the fixtures or equipment of the Business without the consent of Seller. 7. Seller's Oblilllltion's. Seller hereby agrees to be hound by the following terms and conditions oftbis Lease agreement: a. Non-Comnete AareP.ment Unless the parties mutually agree otherwise, during the duration of this Lease Agreement, Seller will not have any interest in an off-sale liquor establishment within ten (10) miles of the location of the Business, with the exception of Ov'1 u, Co 1'1 Ie: '" 1- . located at ! '-/ B'I if Fe 1"'';;, 13 fd i. 1'" ~1t6f-'r2.'~ i.j(;;"'(,~ which is already owned by Seller. b. Confidential Information. Seller agrees not to disclose any information regarding the Business to any third-party without the written consent of Buyer. 1y