|
Commercial and Industrial Lease B
<br />T4is �nbjentu r.f2, made in duplicate this ...............6th.....-- day of .....December !9 84..
<br />by and between.
<br />Parties. FAIRVIEW DEVELOPMENT CO., INC. a Minnesota Corporation
<br />hereinafter designated and referred to as Lessor, and
<br />STEPHENS LIQUOR STORE, INC. a Minnesota Corporation
<br />hereinafter designated and referred to as Lessee,
<br />WITNESSETH: THAT said Lessor in consideration of the rents and covenants hereinafter mentioned, to be paid
<br />and performed by said Lessee, does hereby demise, lease and let unto the said Lessee, and the said Lessee, does hereby hire and take
<br />from the said Lessor, the following described premises situate in the City of .._..Roseville
<br />y Ramse...............•--.........................---................. State of Minnesota ...--
<br />Count of .--•--......Y.....................................................................
<br />to -wit:
<br />The 4400 sq. ft. area as outlined in "Red" on the attached sketch marked
<br />Exhibit "A"
<br />Description
<br />of
<br />Premises.
<br />Designated Mailing Address: 2577-79 No. Fairview Avenue
<br />Term. TO HAVE AND TO HOLD the above premises just as they are except as herein specifically provided for without
<br />any liability or obligation on the part of said Lessor of making any alterations, improvements or repairs of any kind on or about
<br />said premises or the building or buildings of which they are a part, or the equipment, fixtures, plumbing, appliances or machinery
<br />in, upon or serving same, or the streets, alleys, areas, area -ways or passages adjoining or appurtenant thereto,
<br />for the term of Five (5) years
<br />from and after the
<br />.........1st....... day of....MaY............................. . 19 �5... , to the ...... 3.Q.t h................ day ofA4)ril ........................... ,
<br />19.. . K., both dates inclusive.
<br />And the said Lessee agrees to and with said Lessor to pay the Lessor wherever Lessor may designate, as monthly rent for the
<br />first year of the lease term for the above mentioned premises the sum of TWENTY—SIX HUNDRED ($2600.00)
<br />dollars, in advance, on the first day of each month of the first year of the leasehold,
<br />and
<br />At the beginning of each new lease year that this lease remains in effect the monthly rent to be paid by the Lessee, shall be increased in
<br />Rent and the, percentage that the Consumers Price Index (National) of the Bureau of Labor Statistics has increased over the preceding lease year. The
<br />Miscellaneous ercentage increase shall be determined by comparing the last published Price Index with the Index published for one year prior to the latest
<br />Covenants. p
<br />one being used in the determination and then applying that percentage increase to the monthly rent being paid to the Lessor to determine the
<br />amount of rent increase the Lessee is to pay during the next lease year of the lease. If there has been no increase in the cost of living during the
<br />lease year, then the rent shall remain at the same monthly rate the Lessee was obliged to pay during the last year this lease was in effect.
<br />I. Lessee covenants:
<br />(a) To pay promptly and when due all charges for water, gas, and
<br />electric current dscd on said premises during said term:
<br />(b) To pay promptly, on or before May lit of each year of the
<br />leaschold, any Real Estate Taxes and Special Assessments levied against
<br />the land and improvements upon which the demised premises have been
<br />built. It is agreed and understood that if the Lessee only occupies a
<br />portion of the building of which the demised premises are a part. then
<br />Lessee shall be liable for only its proportionate share of the taxes and
<br />assessmcnts due. It is further agreed and understood that if the leaschold
<br />is for a portion of a year, then in that year, the Lessec shall be obligated to
<br />a proportionate share of said taxes, based on term of occupancy. Lessor
<br />shall furnish Lessee with a copy of any current tax and assessments
<br />statement and a breakdown showing the amount due within a reasonable
<br />time after said Lessor has received same from the taxing authorityy.
<br />It is further agreed and understood that if the Lessor requests l.cssce
<br />to pay 1112th of the taxes and assessments each month said Lessee will do
<br />so upon being furnished with a copy of current tax statement and
<br />breakdown of taxes and assessments.
<br />(c) To keep and maintain all and singular the premises and fixtures
<br />in and upon same in good condition and repair. If repairs are necessary to
<br />the premises and fixtures, and such repairs make it necessary to replace
<br />any fixture or equipment, it shall be the Lessee's obligation to do so. It
<br />being understood that the taking of said premises by Lessee shall be
<br />conclusive as against Lessee that the premises and fixtures in and upon
<br />the same were in good and satisfactory condition when possession was
<br />taken hereunder,
<br />(d) To replace with glass of the same kind and quality any and all
<br />glass now or hereafter in said premises that may be injured or broken,
<br />unless the same shall be broken by fire, Lessee hereby acknowledging that
<br />the same is now whole and in good condition.
<br />2. Lessee covenants not to assign this lease nor sublet the whole, or any
<br />pa't, of said premises nor permit any other person. either jointly with Lessee
<br />or otherwise, to occupy the premises, or any part thereof, without first
<br />obtaining. on each occasion, the written consent of Lessor; and, should
<br />Lessee assign this lease or sublet the whole, or any part, of said premises or
<br />permit any other person, either jointly with Lessee or otherwise, to OCCUPY
<br />said premises, or any part thereof, without such written consent, neither
<br />acceptance of rent by Lessor from Lessee, or other person, thereafter, nor
<br />failure on the part of Lessor for any particular periOd to take action on
<br />account of such breach or to enforce its rights shall br d eemed a waiver of the
<br />breach, but the same shalLbc a couCh continuing breach
<br />c8h811 anot betenancy
<br />or occupancy continues.
<br />unreasonably withheld.
<br />1. Lessee covenants to remove at the termination of said term by lapse of
<br />time or otherwise. Lessee's goods and effects and those of all persons
<br />claiming under Lessee and peaceably to yield up to Lessor the said premises,
<br />and all improvements, alterations, or additions made to or upon the same, in
<br />good repair, order, and condition in all respects, reasonable use and wear
<br />only excepted. At the end of the (case period, if Lessee does not remove all of
<br />its trade fixtures, broom sweep clean, and otherwise clean up the premises.
<br />Lessor shall have the work done and the Lessee shall be obligated to
<br />reimburse the lessor for its costs upon submission of bill by Lessor. If the
<br />Lessee does not remove all personal property upon the termination of his
<br />lease, it shall be assumed that the lessee has abandoned said personal
<br />property and the Lessor shall have the right to do anything he secs fit to said
<br />personal property without being obliged to keep said property for the Lessee
<br />and shall not be liable for Lessee for the destruction or removal thereof.,
<br />4. Lessee covenants that during the said term and such further time as
<br />Lessee or any person or persons claiming under Lessee shall hold the
<br />premises the same shall not be overloaded, damaged, or defaced, and no trade
<br />or occupation shall be carried on upon the same or use made thereof that
<br />shall be improper, noisy, offensive, or contrary to any law or ordinance or
<br />regulation governing or applicable to said premises for the time being in
<br />force, or injuries to any person or property; that no act or thing shall be done
<br />
|