|
|
|
|
Document Preview Commercial Ground Lease |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Commercial Ground Lease |
|||
|
Entities: |
||||
|
Date: |
2006 |
|||
|
Size: |
113KB total |
|||
|
Price: |
$44 |
|||
|
ID: |
#2415182 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
COMMERCIAL GROUND LEASE
JULY 3 2002
LANDLORD:
REALTY INCOME CORPORATION,
A MARYLAND CORPORATION
TENANT:
FESTIVAL FUN PARKS, LLC,
A DELAWARE LIMITED LIABILITY COMPANY
DBA PALACE ENTERTAINMENT
COMMERCIAL GROUND LEASE
TABLE OF CONTENTS
|
1. |
DEFINITIONS |
1 | |
|
|
1.1 |
Lease Year |
1 |
|
|
1.2 |
Hazardous Material |
1 |
|
|
1.3 |
Environmental Law |
1 |
|
2. |
PREMISES |
2 | |
|
3. |
TERM |
2 | |
|
|
3.1 |
Term |
2 |
|
|
3.2 |
First Option to Extend |
2 |
|
|
3.3 |
Second Option to Extend |
2 |
|
|
3.4 |
Third Option to Extend |
2 |
|
|
3.5 |
Fourth Option to Extend |
3 |
|
|
3.6 |
Fifth Option to Extend |
3 |
|
4. |
MONTHLY RENT |
3 | |
|
|
4.1 |
Net-Net-Net Lease |
3 |
|
|
4.2 |
Monthly Rent |
3 |
|
|
4.3 |
Monthly Rent During the Extension Periods |
4 |
|
5. |
ADDITIONAL RENT |
4 | |
|
|
5.1 |
Consumer Price Index Rental Increase |
4 |
|
6. |
SUBSTITUTE RENT AND INCREASES |
5 | |
|
7. |
SECURITY DEPOSIT |
5 | |
|
8. |
USE OF THE PREMISES |
5 | |
|
9. |
PROPERTY TAXES, ASSESSMENTS AND UTILITIES |
5 | |
|
|
9.1 |
Tenants Required Payments |
5 |
|
|
9.2 |
Payments Not Required by Tenant |
6 |
|
|
9.3 |
Assessments |
6 |
|
|
9.4 |
Utility Payments |
7 |
|
|
9.5 |
Tenants Right to Contest Utility Charges, Contest Taxes and Seek Reduction of Assessed Valuation of the Premises |
7 |
|
|
9.6 |
Landlord Not Required to Join in Proceedings or Contest Brought by Tenant |
7 |
|
|
9.7 |
Tax Period and Adjustment of Taxes |
7 |
|
10. |
BUILDING AND IMPROVEMENTS; TRADE FIXTURES |
8 | |
|
|
10.1 |
Building and Improvements |
8 |
|
|
10.2 |
Depreciation and Investment Tax Credit |
8 |
|
|
10.3 |
Trade Fixtures |
8 |
|
|
10.4 |
Removal of Trade Fixtures |
8 |
|
|
10.5 |
Financing of Tenants Property |
9 |
|
11. |
MAINTENANCE OF THE PREMISES |
9 | |
|
|
11.1 |
Obligation to Maintain the Premises |
9 |
|
|
11.2 |
Obligation to Keep the Premises Clear |
9 |
|
12. |
REPAIRS AND ALTERATIONS |
9 | |
i
|
|
12.1 |
Right to Make Alterations |
9 |
|
|
12.2 |
Tenant Shall Not Render Premises Liable For Any Lien |
10 |
|
13. |
INDEMNITY AND INSURANCE |
10 | |
|
|
13.1 |
Indemnification |
10 |
|
|
13.2 |
Insurance Company Requirement |
11 |
|
|
13.3 |
Insurance Certificate Requirements |
11 |
|
|
13.4 |
Minimum Acceptable Insurance Coverage Requirements |
11 |
|
|
13.5 |
Additional Insureds |
12 |
|
|
13.6 |
Mortgage Endorsement |
12 |
|
|
13.7 |
Renewals, Lapses or Deficiencies |
13 |
|
14. |
PARTIAL AND TOTAL DESTRUCTION OF THE PREMISES |
13 | |
|
15. |
CONDEMNATION |
13 | |
|
|
15.1 |
Condemnation Damages |
13 |
|
|
15.2 |
Termination of Lease Due to Condemnation |
14 |
|
16. |
ASSIGNMENT AND SUBLETTING |
14 | |
|
|
16.1 |
Tenants Right of Assignment and Subletting |
14 |
|
|
16.2 |
Landlords Option to Preserve Subtenancies |
14 |
|
|
16.3 |
Tenants Assignment of All Rent from Subletting as Security for Tenants Obligations |
15 |
|
|
16.4 |
Continuing Obligation of Tenant |
15 |
|
|
16.5 |
Fees and Costs with Regard to Proposed Assignment or Sublease |
15 |
|
|
16.6 |
Landlords Right of Assignment |
15 |
|
17. |
DEFAULT AND TERMINATION |
15 | |
|
|
17.1 |
Events of Default |
15 |
|
|
17.2 |
Landlords Remedies |
16 |
|
|
17.3 |
Late Charge |
19 |
|
|
17.4 |
Right of Landlord to Re-Enter |
19 |
|
|
17.5 |
Surrender of Premises |
19 |
|
|
17.6 |
Interest Charges |
20 |
|
|
17.7 |
Tenants Default |
20 |
|
|
17.8 |
Default by Landlord |
20 |
|
18. |
RIGHT OF INSPECTION |
20 | |
|
19. |
WAIVER OF BREACH |
21 | |
|
20. |
NOTICES |
21 | |
|
|
20.1 |
Notice Requirements |
21 |
|
|
20.2 |
Payments Under Lease |
22 |
|
21. |
RELATIONSHIP OF THE PARTIES |
22 | |
|
22. |
SUBORDINATION, ATTORNMENT AND ESTOPPEL |
22 | |
|
|
22.1 |
Subordination and Non-Disturbance |
22 |
|
|
22.2 |
Attornment |
23 |
|
|
22.3 |
Estoppel Certificate |
23 |
|
|
22.4 |
Leasehold Mortgage |
23 |
|
23. |
TENANTS FINANCIAL STATEMENTS |
28 | |
|
24. |
ATTORNEYS FEES |
28 | |
|
|
24.1 |
Recovery of Attorneys Fees and Costs of Suit |
28 |
|
|
24.2 |
Party to Litigation |
28 |
ii
|
|
24.3 |
Landlords Consent |
28 |
|
25. |
CONSENT |
29 | |
|
26. |
AUTHORITY TO MAKE LEASE; COVENANT OF QUIET ENJOYMENT |
29 | |
|
|
26.1 |
Full Power and Authority to Enter Lease |
29 |
|
|
26.2 |
Quiet Enjoyment |
29 |
|
|
26.3 |
No Violation of Covenants and Restrictions |
29 |
|
27. |
HAZARDOUS MATERIAL |
29 | |
|
|
27.1 |
Environmental Compliance |
29 |
|
|
27.2 |
Tenants Responsibility for Hazardous Materials |
30 |
|
|
27.3 |
Survival: |
30 |
|
28. |
GENERAL PROVISIONS |
30 | |
|
|
28.1 |
Gender; Number |
30 |
|
|
28.2 |
Captions |
30 |
|
|
28.3 |
Exhibits |
30 |
|
|
28.4 |
Entire Agreement |
31 |
|
|
28.5 |
Drafting |
31 |
|
|
28.6 |
Modification |
31 |
|
|
28.7 |
Joint and Several Liability |
31 |
|
|
28.8 |
Governing Law |
31 |
|
|
28.9 |
Attorneys Fees |
31 |
|
|
28.10 |
Time of Essence |
31 |
|
|
28.11 |
Severability |
31 |
|
|
28.12 |
Successors and Assigns |
31 |
|
|
28.13 |
Independent Covenants |
32 |
|
|
28.14 |
Information Provided |
32 |
|
|
28.15 |
||