Home

Intelligence

Services

Subscriptions

News

About Us

Sign In

 

Document Preview

Commercial Ground Lease

 

Click "Add to Cart" button to purchase document. 
Documents are emailed immediately after purchase. 
You can also browse documents by
title, category, or company... or click here for help finding documents.

 

Title:

Commercial Ground Lease

Entities:

Palace Entertainment Holdings, Inc.; Bank of America, NA

Date:

2006

Size:

113KB total

Price:

$44

ID:

#2415182

 

 

► Leasing ► Leases ► Ground ► Commercial Ground Lease Agreements
► Financial ► Money Center Banks

 

 

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