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Standard Industrial/Commercial Multi-Tenant Lease (Net)

 

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Title:

Standard Industrial/Commercial Multi-Tenant Lease (Net)

Entities:

American Industrial Real Estate Association; EastGroup Properties Inc.; EastGroup Properties, LP; Encore Software, Inc.; Navarre Corp /mn/

Date:

2003

Size:

Preview shows 9KB of 145KB total

Price:

$44

ID:

#140119

 

 

► Leasing ► AIREA Forms ► Industrial/Comm. ► Multi-Tenant ► Standard Industrial/Commercial Multi-Tenant Leases (Net)
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STANDARD INDUSTRIAL/COMMERCIAL MULTI-TENANT LEASE-NET
AMERICAN INDUSTRIAL REAL ESTATE ASSOCIATION


1. BASIC PROVISIONS ("BASIC PROVISIONS")

1.1 PARTIES: This Lease ("Lease"), dated for reference purposes only
December 17, 1999, is made by and between EastGroup Properties L.P., a Delaware
Limited Partnership and Encore Software, Inc., a California Corporation
("Lessee"), (collectively the "Parties," or individually a "Party").

1.2 (a) PREMISES: That certain portion of the Project (as defined
below), including all improvements therein or to be provided by Lessor under the
terms of this lease, commonly known by the street address of 16920 South Main
Street, located in the City of Carson, County of Los Angeles, State of
California, with zip code 90746, as outlined in Exhibit A attached hereto
("Premises") and generally described as (describe briefly the nature of the
Premises): 73, 245 S.F. of a 106,868 S.F. Industrial Building. In addition to
Lessee's rights to use and occupy the Premises as hereinafter specified, Lessee
shall have non-exclusive rights to the Common Areas (as defined in Paragraph 2.7
below) as hereinafter specified, but shall not have any rights to the roof,
exterior walls or utility raceways of the building containing the Premises
("Building") or to any other buildings in the Project. The Premises, the
Building, the Common Areas, the land upon which they are located, along with all
other buildings and improvements thereon, are herein collectively referred to as
the "Project." (See also Paragraph 2)

1.2 (b) PARKING: 100 unreserved vehicle parking spaces ("Unreserved
Parking Spaces"), and 0 reserved parking spaced ("Reserved Parking Spaces").
(See all Paragraph 2.6)

1.3 TERM: Five (5) years and 0 months ("Original Term") commencing See
Addendum Paragraph 52 ("Commencement Date") and ending 60 months after
Commencement Date ("Expiration Date"). (See also Paragraph 3)

1.4 EARLY POSSESSION: Upon full execution or Lease ("Early Possession
Date").

1.5 BASE RENT: $41,749.65 ("Security Deposit"). (See also Paragraph 5)

[X] If this box is checked, there are provisions in this Lease for the Base Rent
to be adjusted.

1.6 LESSEE'S SHARE OF THE COMMON AREA OPERATING EXPENSES: Sixty-eight
and 54/100 percent (68.54%) ("Lessee's Share")

1.7 BASE RENT AND OTHER MONIES PAID UPON EXECUTION:

(a) BASE RENT: $41,749.65 for the period 1st full month
of Lease
(b) COMMON AREA OPERATING EXPENSES: $5,859.00 for the
period 1st full month of Lease
(c) SECURITY DEPOSIT: $41,749.65 ("Security Deposit").
(See also Paragraph 5)
(d) OTHER: ____________________ for ___________________
(e) TOTAL DUE UPON EXECUTION OF THIS LEASE: $89,358.30

1.8 AGREED USE: Manufacturing, development and distribution of Software
Products and all such matters or activities related thereto.

1.9 INSURING PART.: Lessor is the "Insuring Party." (See also Paragraph
8)

1.10 REAL ESTATE BROKERS. (See also Paragraph 15)

(a) REPRESENTATION: The following real estate brokers (the
"Brokers") and brokerage relationships exist in this transaction (check
applicable boxes):



1
{PAGE}

[ ] ______________________ represents Lessor exclusivity ("Lessor's Broker");
[ ] ______________________ represents Lessee exclusivity ("Lessee's Broker"); or
[ ] ______________________ represents both Lessor and Lessee ("Dual Agent")


(b) PAYMENT TO BROKERS: Upon execution and delivery of this
Lease by both Parties, Lessor shall pay to the Brokers the brokerage fee agreed
to in a separate written agreement (or if there is no such agreement, the sum of
_________ or ____% of the total Base Rent for the brokerage services rendered by
the Brokers).

1.11 GUARANTOR. The obligations of the Lessee under this Lease are to
be guaranteed by Michael A. Bell and Michael Wegmann ("Guarantor"). (See also
Paragraph 37)

1.12 ADDENDA AND EXHIBITS. Attached hereto is an Addendum or Addenda
consisting of Paragraphs 50 through 53 and Exhibits A through 53, all of which
constitute a part of this Lease.

2. PREMISES.

2.1 LETTING. Lessor hereby leases to Lessee, and Lessee hereby leases
from Lessor, the Premises, for the term, at the rental, and upon all of the
terms, covenants and conditions set forth in this Lease. Unless otherwise
provided herein, any statement of size set forth in this Lease, or that may have
been used in calculating Rent, is an approximation which the Parties agree is
reasonable and any payments based thereon are not subject to revision whether or
not the actual size is more or less.

2.2 CONDITION. Lessor shall deliver that portion of the Premises
contained within the Building ("Unit") to Lessee broom clean and free of debris
on the Commencement Date or the Early Possession Date, whichever first occurs
("Start Date"), and, so long as the required service contracts described in
Paragraph 7.1 (b) below are obtained by Lessee and in effect within sixty (60)
days following the Start Date, warrants that the existing electrical, plumbing,
fire, sprinkler, lighting, heating, ventilating and air conditioning systems
("HVAC"), loading doors, if any, and all other such elements in the Unit, other
than those constructed by Lessee, shall be in good operating condition on said
date and that the structural elements of the roof, bearing walls and foundation
of the Unit shall be free of material defects. If a non-compliance with such
warranty exists as of the Start Date, or if one of such systems or elements
should malfunction or fail within the appropriate warranty period, Lessor shall,
as Lessor's sole obligation with respect to such matter, except as otherwise
provided in this Lease, promptly after receipt of written notice from Lessee
setting forth with specificity the nature and extent of such non-compliance,
malfunction or failure, rectify same at Lessor's expense. The warranty periods
shall be as follows: (i) six (6) months as to the HVAC systems, and (ii) three
(3) months as to the remaining systems and other elements of the Unit. If Lessee
does not give Lessor the required notice within the appropriate warranty period,
correction of any such non-compliance malfunction or failure shall be the
obligation of Lessee at Lessee's solo cost and expense (except for the repairs
to the fire sprinkler systems, roof, foundations and/or bearing walls-see
Paragraph 7).

2.3 COMPLIANCE. Lessor warrants that the improvements on the Premises
and the Common Areas comply with the building codes that were in effect at the
time that each such improvement or portion thereof, was constructed, and also
with all applicable laws, covenants, or restrictions of record, regulations, and
ordinances in effect on the Start Date ("Applicable Requirements"). Said
warranty does not apply to the use to which Lessee will put the Premises or to
any Alterations or Utility Installations (as defined in Paragraph 7.3 (a)) made
or to be made by Lessee. NOTE: LESSEE IS RESPONSIBLE FOR DETERMINING WHETHER OR
NOT THE APPLICABLE REQUIREMENTS, AND ESPECIALLY THE ZONING, ARE APPROPRIATE FOR
LESSEE'S INTENDED USE, AND ACKNOWLEDGES THAT PAST USES OF THE PREMISES MAY NO
LONGER BE ALLOWED. If the Premises do not comply with said warranty, Lessor
shall, except as otherwise provided, promptly after receipt of written notice
from Lessee setting forth with specificity the nature and extent of such
non-compliance, rectify the same at Lessor's expense. If Lessee does not give
Lessor written notice of a non-compliance with this warranty within six (6)
months following the Start Date, correction of that non-compliance shall be the
obligation of Lessee at Lessee's sole cost and expense. If the Applicable
Requirements are hereafter changed so as to require during the term of this
Lease the construction of an addition to or an alteration of the Unit, Premises
and/or Building, the remediation of any Hazardous Substance, or the

 

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