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Title: |
Commercial Lease Agreement |
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Entities: |
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Date: |
2003 |
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Size: |
Preview shows 4KB of 65KB total |
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Price: |
$52 |
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ID: |
#1154660 |
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COMMERCIAL LEASE AGREEMENT
COMPLETE NET
This Lease is made and entered into that certain date that Lessor and
Lessee have each executed this Agreement. The effective date of the Lease Term
is set forth below.
1. BASIC PROVISIONS ("BASIC PROVISIONS").
1.1 PARTIES. This Lease ("Lease") is by and between Hopkins Real Estate
Investments, L.L.C., an Idaho limited liability company, with a principal
mailing address of P.O. Box 670, Meridian, Idaho, 83680, hereinafter "Lessor,"
the owner of the Premises as described below, and Extended Systems of Idaho,
Incorporated, an Idaho Corporation, with its principal place of business at 5777
N. Meeker Ave, Boise, ID 83713, hereinafter "Lessee." In this Agreement, Lessor
and Lessee are sometimes referred to collectively as the "Parties" and
individually may be referred to as "Party."
1.2 PREMISES. This Agreement is made to memorialize all of the terms
and conditions whereby Lessor shall lease to Lessee and Lessee shall lease from
Lessor that certain parcel of real property described as:
See Attached Exhibit "A"
hereinafter the "Premises." The Premises shall include all existing buildings,
all attachments and improvements situate thereon. The Premises are commonly
referred to as 5777 N. Meeker, Boise, ID 83713.
1.3 TERM. The term of this Lease shall be for a period of exactly ten
(10) years (the "Term") commencing upon the closing of Lessor's purchase of the
Premises (which is scheduled to take place on or before September _26__, 2003),
hereinafter the Lease "Commencement Date," and ending exactly ten years
thereafter ("Expiration Date"), unless otherwise terminated in accordance with
this Agreement.
1.4 BASE RENT. Throughout the Term, Lessee shall pay to Lessor the base
rent sum of $36,800.00 per month. The monthly rent sum, including future
adjustments, is known as "Base Rent." Base Rent shall be due and payable on the
first (1st) day of each month commencing upon the first full month after close
of the purchase escrow for the Premises. A pro-rated portion of the initial Base
Rent due Lessor by Lessee, incurred from the Commencement Date through the end
of the month of closing, shall be paid by Lessee to Lessor at the closing of
Lessor's purchase of the Premises.
1.5 ADJUSTMENT TO BASE RENT. The parties agree there shall be no annual
increases in the Base Rent.
LEASE - Page 1
<PAGE>
1.6 PERMITTED USE. The Premises may be used as offices, light
industrial or manufacturing ("Permitted Use").
1.7 INSURANCE. Lessee shall maintain, at its sole and separate cost, a
policy or policies of insurance, covering the Premises against casualty damage
and Premises liability as more particularly described in this Agreement. This
cost shall be in addition to Base Rent.
1.8 REAL ESTATE TAXES AND ASSESSMENTS. Lessee shall, at its sole and
separate cost, pay all of the real property taxes and assessments assessed or
levied against the Premises as more particularly described in this Agreement.
This cost shall be in addition to Base Rent.
1.9 MAINTENANCE, REPAIRS AND REPLACEMENTS. Lessee shall, at its sole
and separate cost, provide to the Premises all maintenance, routine and
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