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Commercial Lease Agreement

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Title:

Commercial Lease Agreement

Entities:

Gainsco, Inc.; Trammell Crow Co.; North Texas Commercial Association of Realtors; Gainsco Inc.

Date:

2002

Size:

Preview shows 12KB of 114KB total

Price:

$50

ID:

#117509

► Leasing ► Commercial ► By State ► Texas Commercial Leases
► Insurance ► Property & Casualty Insurance
► Real Estate
► Miscellany ► Associations

Start of Preview

TRAMMELL CROW COMPANY

NORTH TEXAS COMMERCIAL ASSOCIATION OF REALTORS(R)

COMMERCIAL LEASE AGREEMENT

TABLE OF CONTENTS

{Table}

{Caption}

Article PAGE

{S} {C} {C}

1. Defined Terms 1

2. Lease and Lease Term 2

3. Rent and Security Deposit 3

4. Taxes 4

5. Insurance and Indemnity 4

6. Use of Demised Premises 5

7. Property Condition 7

8. Damage and Destruction 8

9. Condemnation 9

10. Assignment and Subletting 9

11. Default and Remedies 9

12. Landlord's Contractual Lien 11

13. Protection of Lenders 12

14. Environmental Representations and Indemnity 13

15. Professional Fees 14

16. Miscellaneous 15

17. Additional Provisions 16

{/Table}

EXHIBITS AND ADDENDA. Any exhibit or addendum attached to this Lease is

incorporated as a part of this Lease for all purposes. Any term not specifically

defined in the Addenda shall have the same meaning given to it in the body of

this Lease. To the extent any provisions in the body of this Lease conflict with

the Addenda, the Addenda shall control.

(Check all boxes that apply. Boxes not checked do not apply)

{Table}

{S} {C}

[ ] Exhibit A Survey and/or Legal Description of Property

[X] Exhibit B Floor Plan and/or Site Plan

[X] Addendum A Expense Reimbursement

[ ] Addendum B Renewal Options

[ ] Addendum C Right of First Refusal for Additional Space

[ ] Addendum D Percentage Rental/Gross Sales Reports

[ ] Addendum E Guarantee

[ ] Addendum F Construction of Improvements

[X] Addendum G Rules and Regulations

[ ] Addendum H Other

{/Table}

IN CONSIDERATION of the terms, provisions and agreements contained in this

lease, the parties agree as follows:

ARTICLE ONE: DEFINED TERMS. As used in this Commercial Lease Agreement (the

"Lease"), the terms set forth in this Article One have the following respective

meanings:

1.01. EFFECTIVE DATE: The last date beneath the signatures of Landlord and

Tenant on page 16 below.

{Table}

{S} {C}

1.02. LANDLORD: JAGEE REAL PROPERTIES, L.P.

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Address: P. O. BOX 9600, FORT WORTH, TX 76147

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Telephone: 817-335-5881 Fax: 817-335-1905

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1.03. TENANT: GENERAL AGENTS INSURANCE COMPANY OF AMERICA, INC.

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Address:

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Telephone: 817/336-2500 Fax:

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1.04. DEMISED PREMISES: 5400 AIRPORT FREEWAY, SUITE A

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A. Street address: 5400 AIRPORT FREEWAY, SUITE A

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FORT WORTH in TARRANT

-------------------------------------------------------------- -------------------------------------------

County, Texas.

B. LEGAL DESCRIPTION: The property on which the Demised Premises is situated (the "Property") is more

particularly described as:

-----------------------------------------------------------------------------------

or as described ON EXHIBIT A, SURVEY AND/OR LEGAL DESCRIPTION.

--------------------------------------------

C. FLOOR PLAN OR SITE PLAN: Being a floor area of approximately 10,577 square feet and

-------------------

being approximately feet by feet (measured to the exterior of outside walls

---------------- -----------------

and to the center of the interior walls and being more particularly shown in outline form on EXHIBIT B, FLOOR

PLAN AND/OR SITE PLAN.

D. Tenant's pro rata share of the Property is 26.18 %. (See ADDENDUM A, EXPENSE REIMBURSEMENT, if

------

applicable)

1.05. LEASE TERM: 5 years and 0 months beginning on SEPTEMBER 1, 2002 (the

----------------- ------------ ---------------------------

"Commencement Date") and ending on AUGUST 31, 2007 (the "Expiration Date") (See ARTICLE 17,

------------------------

SPECIAL STIPULATIONS

1.06. BASE RENT: $ 528,850.20 total Base Rent for the Lease Term payable in monthly

------------------------

installments of $ 8,814.17 per month in advance. (the total amount of Rent is defined in

--------------

Section 3.01.)

1.07. PERCENTAGE RENTAL RATE: NA %. (See ADDENDUM D, PERCENTAGE RENTAL/GROSS SALES REPORTS, if

-------------

applicable)

{/Table}

{PAGE}

{Table}

{S} {C}

1.08. SECURITY DEPOSIT: $ 8,814.17 (due upon execution of this Lease). (See Section 3.04)

-----------------

1.09. PERMITTED USE: OFFICE /WAREHOUSE AND ANY OTHER LAWFUL USE REASONABLY ACCEPTABLE TO LANDLORD (See

-----------------------------------------------------------------------------

section 6.01)

1.10. PARTY TO WHOM TENANT is to deliver payments under this Lease (check one): [X] Landlord, [ ] Principal

Broker, or [ ] Other -----------------------------------------------------------------

Landlord may designate in writing the party authorized to act on behalf of Landlord to

enforce this Lease. Any such authorization will remain in effect until it is revoked by Landlord in

writing.

1.11. PRINCIPAL BROKER: TRAMMELL CROW COMPANY , acting as (check one): [X] agent for Landlord

------------------------

exclusively, [ ] agent for Tenant exclusively, [ ] an intermediary.

Principal Broker's Address: 411 W. 7th Street, Suite 600, Fort Worth, TX 76102

--------------------------------------------------

Telephone: 817-885-8866 Fax: 817-885-8810

------------ ---------------

1.12 COOPERATING BROKER: NAI STONELEIGH HUFF BROUS MCDOWELL, INC., acting as (check one): [ ] agent

-------------------------------------------------

for Landlord exclusively, [X] agent for Tenant exclusively, [ ] an intermediary.

Cooperating Broker's Address: 201 Main Street, Suite 500, Fort Worth, TX 76102

------------------------------------------------------------------------------------

Telephone: 817-877-4433 Fax: 817-877-2910

----------------------------------------- --------------------------------------

1.13 THE FEE: The Professional Service Fee shall be as set forth in (check one): [X] Paragraph A, or

[ ] paragraph B of Section 15.01.

A. The percentage applicable for leases in Sections 15.01 and 15.03 shall be PER SEPARATE AGREEMENT percent

----------------------

( %).

B. The percentage applicable in Section 15.04 in the event of a sale shall be percent

------------------

( %).

1.14. ACCEPTANCE. The number of days for acceptance of this offer is 10 days. (See

--------------------------

Section 16.14)

{/Table}

ARTICLE TWO: LEASE AND LEASE TERM

2.01. LEASE OF DEMISED PREMISES FOR LEASE. Landlord leases the Demised Premises

to Tenant and Tenant leases the Demised Premises from Landlord for the Lease

Term stated in Section 1.05. The Commencement Date is the date specified in

Section 1.05. unless advanced or delayed under any provision of this Lease.

2.02. DELAY IN COMMENCEMENT. Landlord shall not be liable to Tenant if Landlord

does not deliver possession of the Demised Premises to Tenant on the

Commencement Date specified in Section 1.05 above. Landlord's non-delivery of

possession of the Demised Premises to Tenant on the Commencement Date will not

affect this Lease or the obligations of Tenant under this Lease. However, the

Commencement Date shall be delayed until possession of the Demised Premises is

delivered to Tenant. The Lease Term shall be extended for a period equal to the

delay in delivery of possession of the Demised Premises to Tenant, plus the

number of days necessary for the Lease Term to expire on the last day of a

month. If Landlord does not deliver possession of the Demised Premises to Tenant

within sixty (60) days after the Commencement Date specified in Section 1.05,

Tenant may cancel this Lease by giving written notice to Landlord within ten

(10) days after the 60-day period ends. If Tenant gives such notice, this Lease

shall be canceled effective as of the date of its execution, and no party shall

have any obligations under this Lease. If Tenant does not give such notice

within the time specified, Tenant shall have no right to cancel this Lease, and

the Lease Term shall commence upon the delivery of possession of the Demised

Premises to Tenant. If delivery of possession of the Demised Premises to Tenant

is delayed, Landlord and Tenant shall, upon such delivery, execute an amendment

to this Lease setting forth the revised Commencement Date and Expiration Date of

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