|
|
|
|
Document Preview Ground Lease |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Ground Lease |
|||
|
Entities: |
||||
|
Date: |
1998 |
|||
|
Size: |
Preview shows 16KB of 257KB total |
|||
|
Price: |
$47 |
|||
|
ID: |
#142701 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
WESTMINSTER GATEWAY SHOPPING CENTER
GROUND LEASE
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Article Title Page
- ------- ----- ----
{S} {C} {C}
SUMMARY......................................................... i
1 PREMISES, COMMON AREAS, PARKING................................. 1
2 TERM............................................................ 2
3 FIXED RENT...................................................... 3
4 ADDITIONAL RENT................................................. 4
5 INTENTIONALLY OMITTED........................................... 7
6 SECURITY DEPOSIT................................................ 7
7 UTILITIES AND SECURITY SERVICES................................. 7
8 USE OF PREMISES, COMPLIANCE WITH LAW............................ 8
9 ACCEPTANCE OF PREMISES.......................................... 9
10 ALTERATIONS..................................................... 10
11 LIENS AND ENCUMBRANCES.......................................... 11
12 TAXES ON THE PREMISES AND TENANTS PROPERTY...................... 12
13 MAINTENANCE AND REPAIR.......................................... 13
14 ENTRY AND INSPECTION............................................ 14
15 WAIVER AND INDEMNIFICATION...................................... 14
16 INSURANCE....................................................... 15
17 ASSIGNMENT AND SUBLETTING....................................... 17
18 TRANSFER OF LANDLORD'S INTEREST................................. 18
19 DAMAGE OR DESTRUCTION........................................... 19
20 EMINENT DOMAIN.................................................. 20
21 SIGNS AND AUCTIONS.............................................. 20
22 DEFAULTS AND REMEDIES........................................... 21
23 SURRENDER OF PREMISES; REMOVAL OF PROPERTY...................... 23
24 ATTORNEYS' FEES................................................. 24
25 WAIVER.......................................................... 24
26 HOLDING OVER.................................................... 25
27 SUBORDINATION AND ATTORNMENT.................................... 25
28 DEFINITIONS..................................................... 25
29 HEIRS AND ASSIGNS/TIME OF ESSENCE............................... 26
30 INTERPRETATION.................................................. 26
31 RIGHT OF LANDLORD TO PERFORM.................................... 27
32 NOTICES......................................................... 27
33 QUIET ENJOYMENT................................................. 27
34 ESTOPPEL CERTIFICATE............................................ 27
35 AUTHORITY....................................................... 27
36 BROKERS......................................................... 28
37 ACCORD AND SATISFACTION......................................... 28
38 LANDLORD RESERVATIONS........................................... 28
39 LENDER'S APPROVAL............................................... 28
40 HAZARDOUS OR INFECTIOUS SUBSTANCES.............................. 29
41 UTILITY RATIONING............................................... 31
42 TITLE........................................................... 32
43 MEMORANDUM OF LEASE............................................. 32
{/TABLE}
{TABLE}
{CAPTION}
SCHEDULE OF EXHIBITS
{S} {C}
Exhibit "A" Site Plan of Shopping Center
Exhibit "A-1" Tract Map
Exhibit "A-2" Site Plan (With "Common Areas" identified)
Exhibit "A-3" Exterior Design Plan
Exhibit "B" Rules and Regulations
Exhibit "C" Construction Exhibit
Exhibit "D" Plot Plan of Premises (with "Pad" identified;
MCG Architects version 01/28/98)
Exhibit "D-1" Site Plan (with construction areas, material
storage areas, and construction vehicle access
routes identified.)
Exhibit "E" Intentionally Omitted
Exhibit "F" Supplemental Agreement
Exhibit "G" Intentionally Omitted
Exhibit "H" Form Amendment to Declaration
{/TABLE}
{PAGE}
WESTMINSTER GATEWAY
GROUND LEASE
THIS GROUND LEASE ("Lease"), dated for reference purposes only as of
the 5th day of March, 1998 (the "Execution Date"), is made by and between FF
PROPERTIES, L.P. a California limited partnership ("Landlord"), and EAGLE
HARDWARE & GARDEN, INC., a Washington corporation ("Tenant").
LEASE SUMMARY
The following summary (the "Lease Summary") sets forth the
definitions and meanings of the following terms for all purposes of this
Lease, unless otherwise specifically provided or modified herein.
1. Intentionally Omitted.
2. Shopping Center: That certain complex of retail stores commonly known as the
"Westminster Gateway" located at 7901 Trask Avenue, in the City of Westminster,
California, together with the Tenant "Building(s)" and all "Common Areas" (as
that term is hereinafter defined) and the land underlying the Buildings and
Common Areas (collectively, the "Shopping Center"). The Shopping Center is
comprised of Lots 1 through 7, inclusive, as more particularly set forth on that
certain Tract Map No. 15514 recorded on December 17, 1997 as Instrument No.
97-0651234 in Book 760, Pages 24-29, inclusive, of maps in the Office of the
County Recorder of Orange County, California (the "Map"), a copy of which is
attached as Exhibit "A-1". Exhibit "A", which depicts the general layout of the
Shopping Center, shall not be deemed a warranty, representation or agreement on
the part of Landlord that the Shopping Center will be (or has been) constructed
exactly as indicated on said site plan, or that it will continue in the future
to be exactly as indicated thereon.
3. Premises: That certain real property within the Shopping Center as depicted
on Exhibit "D" attached hereto and referred to as Lots 2, 3, 4 & 5 on Exhibit
"A-1", containing approximately five hundred thousand (500,000) square feet (the
"Premises"), upon which a building will be constructed containing approximately
one hundred thirteen thousand one hundred square feet (113,100) square feet with
a garden yard containing approximately twenty-four thousand four hundred and
fifty (24,450) square feet (collectively, the "Building"). The land on which the
Building is situated is referred to as the "Pad" and is shown on Exhibit "D,"
and consists of approximately one hundred thirty-seven thousand five hundred and
fifty (137,550) square feet. The Exhibit "D" Plot plan is the one Tenant will
submit for its "Governmental Approvals" under Paragraph 9.3.
4. Fixed Rent: Seven Hundred Fifty Thousand Dollars ($750,000) per year, subject
to periodic increases as provided in Article 3.
5. Intentionally Omitted.
6. Term: Twenty-five (25) years, with one ten-year option, followed by two
five-year options, as provided in Article 2.
7. Commencement Date: See Article 2.
8. Security Deposit: See Article 6.
9. Tenant's Proportionate Share of Common Areas Operating Costs: Eighty-eight
and 14/100 percent (88.14%), as adjusted from time to time as provided in
Paragraph 4.2. (Art. 4)
10. Use of Premises: For the retail sale of home improvement and gardening
products and other items customarily carried in Eagle Hardware and Garden stores
from time to time and for no other use or purpose, including without limitation
the prohibited uses set forth in the "Declaration" (defined in Paragraph 1.6).
(Art. 8)
11. Addresses:
(a) Landlord For Notices:
FF Properties, L.P.
Attn: Real Estate Department
120 N. Robertson Boulevard, Third Floor
Los Angeles, California 90048
Attention: Property Management
Fax: (310) 652-8538
Telephone: (310) 855-8453
(b) Landlord for Payments:
FF Properties, L.P.
120 N. Robertson Boulevard, Third Floor
Los Angeles, California 90048
Attention: Real Estate Accounting
{PAGE}
(c) Tenant For Notices:
Eagle Hardware & Garden
981 Powell Avenue S.W.
Renton, Washington 98055
Attention: Richard T. Takata
Fax: (452) 204-5169
(Art. 32)
12. Broker(s): Pacific Retail Partners, on behalf of Landlord, and Majestic
Realty, on behalf of Tenant. (Art. 36)
{PAGE}
WESTMINSTER GATEWAY
GROUND LEASE
In addition to each of the provisions contained in the Lease Summary,
all of the provisions, covenants and conditions set forth in the succeeding
Articles, Addenda, if any, and Exhibits attached hereto are incorporated in this
Lease and by this reference made a part hereof. Landlord and Tenant hereby agree
that this Lease shall be deemed binding and in full force and effect upon the
Execution Date, and further covenant and agree as follows:
ARTICLE 1
PREMISES, COMMON AREAS, PARKING
1.1 Premises. In consideration of and subject to each and all of the
covenants, terms and conditions herein set forth, Landlord hereby leases to
Tenant and Tenant hereby hires from Landlord the Premises located in the
Shopping Center.
1.2 Common Areas. Tenant and its employees, customers and invitees
shall have the non-exclusive license to use that portion of the Shopping Center
designated by Landlord for the common use of tenants of the Shopping Center and
any other persons permitted by Landlord to use same (the "Common Areas"), which
Common Areas include a portion of the Premises. The Common Areas, including the
Common Areas on the Premises, are designated on Exhibit "A-2" and shall be
subject to the terms and conditions of the Declaration and reasonable
non-discriminatory rules and regulations governing use as promulgated from time
to time by Landlord and uniformly applied (the "Rules and Regulations"),
including the designation of specific areas within the Shopping Center for
specific purposes or common uses. A copy of the current Rules and Regulations
are attached hereto as Exhibit "B."
1.3 Parking. During the term hereof, Landlord hereby grants Tenant and
its employees, customers, and invitees, subject to availability, the
non-exclusive license to use that portion of the Common Areas designated on
Exhibit "A-2" by Landlord for parking, subject to the Declaration and the Rules
and Regulations (which may include the designation of specific areas in which
vehicles owned by Tenant, its employees, subtenants and invitees shall be
parked). Tenant agrees to furnish to Landlord a complete list of its motor
vehicles and license numbers and the names of Tenant's employees at the Premises
who have automobiles and of their respective license numbers.
1.4 Ground Lease. The interest of Landlord in the Shopping Center is
that of a ground lessee pursuant to that certain lease dated as of July 1,
1994 by and between California Drive-In Theaters, Inc. as ground lessor
("Master Landlord") and Landlord, as ground lessee, as amended by that
certain First Addendum to Lease dated October 1, 1995 between Master Landlord
and Landlord (the "Master Lease"), a memorandum of which has been recorded.
Under the Master Lease, Landlord ground leases Lots 1 through 7, inclusive,
of the Map (each may be sometimes referred to singularly in a general manner
as a "Lot," or specifically as an Lot with a numerical designation;
collectively, they are referred to as the "Lots") shown on Exhibit "A-1."
This Lease is and at all times shall be subordinate to the Master Lease. No
later than ten (10) business days after the Execution Date, Landlord shall
provide Tenant with nondisturbance agreements in favor of and acceptable to
Tenant from the Master Landlord (and from any holders of any mortgages or
deeds of trust which now affect the Premises or the Shopping Center),
pursuant to which Master Landlord (or such holders of any mortgages or deeds
of trust, as the case may be) shall agree, in the event of termination of the
Master Lease, that Tenant's quiet enjoyment of the Premises will not be
disturbed so long as Tenant pays Rent, attorns to Master Landlord (or such
holder), and observes and performs all of the obligations under this Lease to
be observed and performed by Tenant. Failure to provide Tenant with all such
nondisturbance agreements by such date shall entitle Tenant to terminate this
Lease by giving Landlord written notice of Tenant's intention to terminate
this Lease within twenty (20) days after the date the nondisturbance
agreements were due and, if Landlord fails to deliver all such nondisturbance
agreements within ten (10) days after receipt of such notice from Tenant,
this Lease shall terminate. Upon such termination, all rights and obligations
of the parties, except those that expressly survive termination, shall
terminate and be of no further force or effect. Except as otherwise
specifically set forth in this Lease, as to the Premises all of the terms,
provisions, covenants, and conditions set forth in the Master Lease (but not
including Sections 2 and 3 (except to the extent of Tenant's rental
obligations under this Lease), 11, subclause (a) of Section 14 (except as to
the leasehold estate created hereby), Section 18.3 (but without limiting
Tenant's obligations under Paragraph 16.2 of this Lease), and Section 38(c)
thereof) shall constitute the terms, provisions, covenants, and conditions of
this Lease; provided, however, that unless the context unambiguously
otherwise requires, whatever the word "lessor" is used in the Master Lease,
it shall be deemed to refer to Landlord hereunder, and wherever the word
"lessee" is used in the Master Lease, it shall be deemed to refer to Tenant
hereunder. Except as otherwise specifically limited, modified, or
supplemented by this Lease, and specifically limited to the Premises only,
all of the covenants, agreements, obligations, and benefits of the
|
End of Preview |
Home Intelligence Services Subscriptions News About Us