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Document Preview Industrial Lease |
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Title: |
Industrial Lease |
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Entities: |
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Date: |
2006 |
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Preview shows 8KB of 80KB total |
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Price: |
$42 |
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ID: |
#1065153 |
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| 1. | LEASED PREMISES, BUILDING, PROPERTY, COMMON AREAS, AND TERM. This Lease Agreement is made and entered into by and between KANSAS CITY LIFE INSURANCE COMPANY, a Missouri corporation (“Landlord”) and RAVEN LINING SYSTEMS, INC., an Oklahoma corporation (“Tenant”). The Landlord does hereby demise and lease unto the Tenant approximately 15,000 square feet of space which is a part of the property known as METRO PARK EAST IV, said space which is located at 13105 EAST 61ST STREET SOUTH, SUITE A, TULSA, OKLAHOMA (“Leased Premises”). The building in which the Leased Premises is situated (hereinafter referred to as “Building”; if the Building is a part of a group of buildings comprising a single development, then, for proration purposes only, the reference shall be to “Buildings”) comprises a portion of the property that is legally described in the attached Exhibit A (“Property”). In addition to the Building and the land upon which the Building is situated, the Property also includes parking areas, loading areas and roadways (“Common Areas”). The Term of this Lease shall be for a period of SIXTY (60) MONTHS AND FOURTEEN (14) DAYS, commencing on FEBRUARY 15, 2006, excepting delays due to strikes, acts of God, failure in delivery of materials and events beyond Landlord’s control, and ending on FEBRUARY 28, 2011 (“Lease Term”) unless said Lease Term shall be terminated sooner as hereinafter provided. |
| 2. | BASE RENT AND SECURITY DEPOSIT. |
| (a) | In consideration of said Lease, the Tenant, without prior notice or demand, agrees to pay to the Landlord on a monthly basis a Base Rent for said Leased Premises for the term of the Lease as follows: |
| from | 02 / 15 / 06 | to | 02 / 28 / 06 | $ | 3,375.00 | per month | ||||||||
| from | 03 / 01 / 06 | to | 02 / 28 / 11 | $ | 6,750.00 | per month | ||||||||
| In addition, Tenant shall also be responsible for payment of personal property taxes and Rent taxes, if any. For the purpose of this Lease, the term (“Rent”) shall include all Base Rent and any Additional Rent owed by Tenant to Landlord as provided for herein. Said Rent shall be due and payable in advance on the first day of each month during the Term of this Lease at the office of the Landlord’s Management Agent, or such other place as the Landlord from time to time, in writing, may designate. Rent not received on or before the fifth (5th) day of each month during the Term of this Lease shall be considered delinquent and subject to the Late Charges as enumerated in Paragraph 3 of this Lease. With the execution of this Lease, Tenant has deposited with the Landlord the sum of $18,468.75, of which $10,125.00 shall be applied as February and March Base Rent, $1,593.75 shall be applied as February and March, Property Operating Expenses, $0.00 shall be applied as rental tax, and the balance of $6,750.00 shall be held by Landlord as a Security Deposit. | ||||
| (b) | Security Deposit is defined as monies pledged as security for the payment of
Rent and other charges herein agreed to be paid, and for the faithful performance of
all the terms, conditions, and covenants of this Lease. The Security Deposit shall be
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