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Lease |
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Date: |
2001 |
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Preview shows 18KB of 128KB total |
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$46 |
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#399068 |
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LEASE
(FREEZER LAND)
by and between
FIRST AMERICAN BUSINESS CAPITAL, INC.,
as Lessor
and
O'CHARLEY'S INC.,
as Lessee
Dated as of October 10, 2000
{PAGE} 2
INDEX
{TABLE}
{CAPTION}
PAGE
{S} {C}
SECTION 1. TERM.........................................................................1
1.1 TERM.........................................................................1
SECTION 2. RENT; NET LEASE..............................................................1
2.1 RENT.........................................................................1
2.2 NET LEASE....................................................................2
SECTION 3. USE AND OPERATION............................................................3
3.1 USE..........................................................................3
3.2 ENVIRONMENTAL ACTIVITY.......................................................4
SECTION 4. IMPOSITIONS; UTILITIES AND MAINTENANCE CONTRACTS.............................5
4.1 IMPOSITIONS..................................................................5
4.2 UTILITIES; MAINTENANCE CONTRACTS.............................................6
4.3 SURVIVAL.....................................................................7
SECTION 5. REPRESENTATIONS AND WARRANTIES; CONDITION OF THE FREEZER LAND; DISCLAIMER....7
SECTION 6. REPAIRS; ENCROACHMENTS.......................................................8
6.1 MAINTENANCE AND REPAIR.......................................................8
6.2 OBSTRUCTION OF ACCESS; ENCROACHMENTS.........................................8
SECTION 7. COMPLIANCE WITH APPLICABLE LAWS..............................................9
SECTION 8. CONTEST RIGHTS..............................................................10
8.1 LESSEE'S RIGHT TO CONTEST...................................................10
8.2 LESSOR'S JOINDER RIGHTS.....................................................11
SECTION 9. INSURANCE...................................................................11
9.1 INSURANCE POLICIES..........................................................11
9.2 ADDITIONAL POLICY REQUIREMENTS..............................................13
{/TABLE}
i
{PAGE} 3
{TABLE}
{S} {C}
SECTION 10. DAMAGE, DESTRUCTION AND CONDEMNATION........................................15
10.1 DEFINITION OF CASUALTY......................................................15
10.2 CASUALTY PROCEEDS...........................................................15
10.3 TERMINATION NOTICE; LESSOR TERMINATION NOTICE...............................15
10.4 CASUALTY OTHER THAN A SUBSTANTIAL CASUALTY..................................15
10.5 EVENT OF DEFAULT............................................................16
SECTION 11. LESSOR MAY PERFORM LESSEE'S OBLIGATIONS.....................................16
SECTION 12. DEFAULT OF LESSEE...........................................................17
12.1 EVENT OF DEFAULT DEFINED....................................................17
12.2 REMEDIES....................................................................18
12.3 WAIVER OF TRIAL BY JURY.....................................................21
12.4 REMEDIES CUMULATIVE.........................................................22
12.5 NO SUBSEQUENT WAIVER........................................................22
SECTION 13. ASSIGNMENT, SUBLETTING AND MORTGAGING.......................................22
13.1 ASSIGNMENT..................................................................22
13.2 SUBLETTING..................................................................22
13.3 CONSENT; EFFECT OF ASSIGNMENT OR SUBLETTING.................................23
SECTION 14. ACCESS TO THE FREEZER LAND..................................................23
SECTION 15. ALTERATIONS.................................................................24
15.1 APPROVAL....................................................................24
15.2 CONDITIONS..................................................................24
SECTION 16. LIENS; ZONING...............................................................26
16.1 LIENS.......................................................................26
16.2 ZONING......................................................................26
SECTION 17. SUBORDINATION AND ATTORNMENT................................................27
{/TABLE}
ii
{PAGE} 4
{TABLE}
{S} {C}
17.1 SUBORDINATION AND ATTORNMENT................................................27
17.2 PROVISIONS SELF-OPERATIVE...................................................27
SECTION 18. QUIET ENJOYMENT.............................................................27
SECTION 19. ESTOPPEL CERTIFICATE........................................................27
SECTION 20. INTENTIONALLY OMITTED.......................................................28
SECTION 21. CONVEYANCE BY LESSOR........................................................28
SECTION 22. BROKERAGE...................................................................28
SECTION 23. NOTICES.....................................................................28
SECTION 24. ENTIRE AGREEMENT; NO WAIVER.................................................29
24.1 ENTIRE AGREEMENT............................................................29
24.2 NO WAIVER...................................................................29
SECTION 25. END OF TERM.................................................................29
25.1 SURRENDER...................................................................29
SECTION 26. NO MERGER...................................................................31
SECTION 27. MISCELLANEOUS...............................................................31
27.1 SECTION HEADINGS............................................................31
27.2 SUCCESSORS AND ASSIGNS......................................................31
27.3 AMENDMENT...................................................................31
27.4 INVALIDITY..................................................................31
27.5 CONSTRUCTION................................................................31
27.6 COUNTERPARTS................................................................31
SECTION 28. SUBMISSION TO JURISDICTION; GOVERNING LAW...................................31
SECTION 29. PERFORMANCE REQUIRED OF LESSOR..............................................32
SECTION 30. PURCHASE OPTION.............................................................32
30.1 PURCHASE OPTION.............................................................32
{/TABLE}
iii
{PAGE} 5
{TABLE}
{S} {C}
SECTION 31. LIMITATION OF LESSOR LIABILITY..............................................32
31.1 INCORPORATION OF PROVISIONS OF PARTICIPATION AGREEMENT......................32
{/TABLE}
Exhibit A Description of the Freezer Land
Exhibit B Description of Freezer Improvements
iv
{PAGE} 6
This LEASE, dated as of October __, 2000, by and between FIRST AMERICAN
BUSINESS CAPITAL, INC., a Tennessee corporation (together with its successors
and assigns, "LESSOR"), having an address at c/o AmSouth Bank, AmSouth Center,
Nashville, Tennessee 37237, and O'CHARLEY'S INC., a Tennessee corporation
("LESSEE"), having an address at 3038 Sidco Drive, Nashville, Tennessee 37204.
W I T N E S S E T H:
--------------------
WHEREAS, Lessor and Lessee, among others, have entered into a
Participation Agreement, of even date herewith (the "PARTICIPATION AGREEMENT";
all capitalized terms not otherwise defined herein shall have the meanings
ascribed to them in the Participation Agreement and Appendix A attached
thereto), pursuant to which, among other things, Lessor has acquired the HQ
Property.
WHEREAS, pursuant to the Participation Agreement, Lessor and Lessee
have entered into that certain Lease (the "SYNTHETIC LEASE"), dated as of the
date hereof pursuant to which Lessee leased, among other properties the HQ Land
(excluding, however, the Freezer Land, as defined below) and HQ Improvements
from Lessor.
WHEREAS, Lessee desires to lease the land described on Exhibits A and
A-1 attached hereto (the "FREEZER LAND") from Lessor and Lessor is willing to
lease the Freezer Land to Lessee on the terms and conditions hereinafter set
forth.
WHEREAS, Lessee is the Owner of the Freezer Improvements (as defined in
Exhibits B and B-1 attached hereto) located on the Freezer Land.
NOW, THEREFORE, in consideration of the rents to be paid by Lessee and
of the covenants and agreements hereinafter contained to be observed, performed
and complied with by Lessor and Lessee and of other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Lessor hereby demises and leases to Lessee, and Lessee hereby hires and takes
from Lessor, for the term and subject to the terms, provisions and conditions
hereinafter specified, the Freezer Land. All capitalized terms used herein but
not defined herein shall have the meanings ascribed to them in the Participation
Agreement and Appendix A of the Synthetic Lease.
SECTION 1. TERM
1.1 TERM. The Freezer Land is leased for a period (the "TERM") which
shall commence on the date hereof (the "COMMENCEMENT DATE") and shall end on
midnight on the day immediately preceding the fifteenth (15th) anniversary of
the Commencement Date (the "EXPIRATION DATE") or such earlier date as this Lease
shall be terminated pursuant to any provision hereof.
SECTION 2. RENT; NET LEASE
2.1 RENT. (a) During the Term of this Lease, Lessee shall pay basic
rent ("BASIC RENT") of $48,000.00 per year, payable in equal quarterly
installments equal to $12,000.00 payable in arrears on the first day of each
calendar quarter ("RENTAL PAYMENT
{PAGE} 7
DATE"). All Basic Rent shall be paid by Lessee directly to Agent on behalf of
Lessor, not later than 12:00 noon (Nashville, TN time) on each Rental Payment
Date in Dollars, at such address as Agent shall designate in a notice to Lessee.
If any Rental Payment Date falls on a day that is not a Business Day, Basic Rent
shall be due and payable on the next succeeding Business Day.
(b) All amounts that Lessee is required to pay or discharge pursuant to
this Lease in addition to Basic Rent, together with every fine, penalty, overdue
interest and cost which may be added for nonpayment or late payment thereof, and
all other amounts, liabilities and obligations of whatsoever nature relating to
the Freezer Land, including, without limitation, those arising under any
easements, restrictions, or other similar agreements affecting the Freezer Land
or any adjoining property thereto, and all interest and penalties that may
accrue thereon in the event of Lessee's failure to pay such amounts when due,
and all actual damages, reasonable and documented costs and expenses (including
but not limited to reasonable and documented attorneys' fees and disbursements)
which Lessor may incur by reason of any default of Lessee or failure on Lessee's
part to comply with the terms of this Lease shall constitute additional rent
hereunder (all of the foregoing, "ADDITIONAL Rent"). Lessee covenants (A) to pay
the Basic Rent and the Additional Rent and (B) to observe, perform and comply
with, and to suffer and permit no material violation of, the terms, covenants
and conditions of this Lease. In the event of any failure by Lessee to pay or
discharge any such Additional Rent, Lessor, except as may be otherwise provided
herein, shall have all rights, powers and remedies provided for herein or by
Applicable Law or otherwise in the case of nonpayment of Basic Rent. Lessee may
pay Additional Rent in respect of amounts due to third parties directly to the
Persons entitled thereto and such payment, if it fully discharges the claim of
such third party, shall fully discharge Lessee's obligations with respect to
such particular item of Additional Rent.
2.2 NET LEASE. (a) This Lease is a "net lease" and Lessee shall pay (i)
all Basic Rent and (ii) any Additional Rent payable to the Lessor without
notice, demand, counterclaim, set-off, deduction, or defense, and without
abatement, suspension, deferment, diminution or reduction, free from any
charges, assessments, impositions, expenses or deductions of any and every kind
or nature whatsoever, including, without limitation, (1) any right Lessee may
have against Lessor, any contractor or any other Person for any reason (whether
in connection with this transaction or any other transaction), (2) any breach,
default or misrepresentation by Lessor or any other Person under this Lease or
(3) any invalidity or unenforceability in whole or in part of this Lease or any
other infirmity herein or therein, or any lack of power of authority of any
party to this Lease. All costs, expenses and obligations of every kind and
nature whatsoever relating to the Freezer Property (as defined below) and the
use and occupancy thereof by Lessee or anyone claiming by, through or under
Lessee as Lessee hereunder which may arise or become due during or with respect
to the period constituting the Term hereof shall be paid by Lessee, and Lessee
shall indemnify Lessor against any of the foregoing as provided in the
Participation Agreement; provided, however, that Lessee shall be entitled to
dispute or raise defenses or counterclaims with respect to its obligation to pay
any Additional Rent directly due to any party other than the Lessor so long as
such dispute is conducted in accordance with SECTION 8 of this Lease and Lessee
shall not be deemed to be in Default under this Lease during the pendency of
such protest or contest. Lessee assumes, during the Term of this Lease, the sole
responsibility for the condition (physical or environmental), use, operation,
maintenance, subletting and management of the Freezer Property, and Lessee shall
indemnify Lessor with respect to the foregoing and Lessor shall have no
responsibility in respect
2
{PAGE} 8
thereof and shall have no liability for damage to the property of Lessee or any
sublessee of Lessee on any account or for any reason whatsoever. Without
limiting the generality of the foregoing, during the Term of this Lease, Lessee
shall perform all of the obligations of the sublessor under any subleases
permitted pursuant to SECTION 13.2 hereof affecting all or any part of the
Freezer Land which Lessee may hereafter enter into as sublessor to the extent
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