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Building Lease

 

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Title:

Building Lease

Entities:

American Industrial Real Estate Association; SEW CAL Logo Inc

Date:

2004

Size:

Preview shows 7KB of 114KB total

Price:

$55

ID:

#1695935

 

 

► Leasing ► Building Lease Agreements
► Real Estate

 

 

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                                 Building Lease


AMERICAN INDUSTRIAL REAL ESTATE ASSOCIATION

STANDARD INDUSTRIAL/COMMERCIAL SINGLE-TENANT LEASE -- GROSS
(DO NOT USE THIS FORM FOR MULTI-TENANT BUILDINGS)

1. BASIC PROVISIONS ("BASIC PROVISIONS").

1.1 PARTIES: This Lease ("LEASE"), dated for reference purposes only,
September 21, 1998, is made by and between Bernie Huberman and Dan Rosenthal
("LESSOR") and Southern California Logo, Inc., a California Corporation
("LESSEE"), (collectively the "PARTIES," or individually a "PARTY").

1.2 PREMISES: That certain real property, including all improvements
therein or to be provided by Lessor under the terms of this Lease, and commonly
known as 207 West 138th Street, Los Angeles 90061, located in the County of Los
Angeles (Unincorporated Area), State of California, and generally described as
(describe briefly the nature of the property and, if applicable, the "PROJECT",
if the property is located within a Project) approximately 25,000 square feet of
building situated on a parcel of land measuring approximately 42,000 square feet
("PREMISES"). (See also Paragraph 2)

1.3 TERM: Six (6) years and 0 months ("ORIGINAL TERM") commencing October
1, 1998 ("COMMENCEMENT DATE") and ending October 1, 2004 ("EXPIRATION DATE")).
(See also Paragraph 3)

1.4 EARLY POSSESSION: Not applicable ("EARLY POSSESSION DATE"). (See also
Paragraphs 3.2 and 3.3)

1.5 BASE RENT: $10,418.00 per month ("BASE RENT"), payable on the first day
of each month commencing on October 1, 1998. (See also Paragraph 4)

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

1.6 BASE RENT PAID UPON EXECUTION: $10,418.00 as Base Rent for the period
of October 1998.

1.7 SECURITY DEPOSIT: $ 0 ("SECURITY DEPOSIT"). (See also Paragraph 5)

1.8 AGREED USE: the manufacture, embroidery and distribution of promotional
garments and related uses. (See also Paragraph 6)

1.9 INSURING PARTY: 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 (collectively, the
"BROKERS") and brokerage relationships exist in this transaction (check
applicable boxes):

[] None represents Lessor exclusively ("LESSOR'S BROKER");

[] None represents Lessee exclusively ("LESSEE'S BROKER"); or

[ ] _________________________ represents both Lessor and Lessee ("DUAL AGENCY").

1
<PAGE>

BASIC PROVISIONS - continued

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

1.11 GUARANTOR. The obligations of the Lessee under this Lease are to be
guaranteed by Not applicable ("GUARANTOR"). (See also Paragraph 37)

1.12 ADDENDA AND EXHIBITS. Attached hereto is an Addendum or Addenda
consisting of Paragraphs 50 through ____ and Exhibits ____________________
_________________________________, 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 rental, is an approximation which the Parties agree is
reasonable and the rental based thereon is not subject to revision whether or
not the actual size is more or less.

2.2 CONDITION. Lessor shall deliver each phase of the Premises broom clean
and free of debris on the Commencement Date or the Early Possession Date,
whichever first occurs ("START DATE"), and warrants that the existing
electrical, plumbing, fire sprinkler shall be in good operating condition on
said date and that the surface and structural elements of the roof, bearing
walls and foundation of any buildings on the Premises (the "BUILDING") shall be
free of material defects. If a non-compliance with said warranty exists as of
the Start Date, Lessor shall, 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, rectify same at
Lessor's expense.

2.3 COMPLIANCE. Lessor warrants that the improvements on each phase of the
Premises comply with all applicable laws, covenants or restrictions of record,
building codes, regulations and ordinances ("APPLICABLE REQUIREMENTS") in effect
on the Start Date. 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.

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 twelve (12) months following completion
of Phase III, 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 (as opposed to being in existence at the Start Date, which is
addressed in Paragraph 6.2(e) below) so as to require during the term of this
Lease the construction of an addition to or an alteration of the Building, the
remediation of any Hazardous Substance, or the reinforcement or other physical
modification of the Building ("CAPITAL EXPENDITURE"), Lessor and Lessee shall
allocate the cost of such work as follows:


 

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