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TRIPLE NET COMMERCIAL LEASE ARTICLE OF AGREEMENT this
_____ day of __________ 200__, by and between ______________[INSERT NAME
& ADDRESS]________________________, hereinafter referred to as the
"LANDLORD", A N D _____________[INSERT
NAME & ADDRESS]___________________________, hereinafter referred to as the "TENANT". WHEREAS, the Landlord is the
owner of certain premises situated at _________________________, Township of
________________, County of Erie and Commonwealth of Pennsylvania, hereinafter
referred to as the "Leasehold Premises"; and WHEREAS,
the Tenant desires to rent and lease the Leasehold Premises from the Landlord,
and the Landlord has agreed to lease the same to the Tenant upon the following
terms and conditions. NOW, THEREFORE, the parties
hereto, intending to be legally bound hereby, and in consideration of the rents
and covenants of the Tenant to be paid and kept as herein contained, the
Landlord has agreed to lease unto the Tenant, and by these presents does hereby
lease the Leasehold Premises unto the Tenant, and the Tenant hereby leases the
Leasehold Premises from the Landlord, and the parties do covenant and agree as
follows: 1. Term. This Lease shall be for a term of
_______ years and __________ months, commencing on the ____ day of
_____________, 200__, and ending on the ____ day of _________________, 20___. 2. Rent. Tenant shall pay to Landlord, without
demand or deduction, at its offices or such other places as Landlord may from
time to time direct in writing, the minimum monthly rental as follows: Tenant shall pay a monthly
rental of ______________ Dollars and 00/100 ($______.00) on the _____ day of
____________, 200__ and a like sum on the ____ day of each month thereafter up
to and including the _____ day of _____________, 200__. Tenant shall pay a monthly
rental of ______________ Dollars and 00/100 ($______.00) on the _____ day of
____________, 200__ and a like sum on the ____ day of each month thereafter up
to and including the _____ day of _____________, 200__. Tenant shall pay a monthly
rental of ______________ Dollars and 00/100 ($______.00) on the _____ day of
____________, 200__ and a like sum on the ____ day of each month thereafter up
to and including the _____ day of _____________, 200__. Tenant shall pay a monthly
rental of ______________ Dollars and 00/100 ($______.00) on the _____ day of
____________, 200__ and a like sum on the ____ day of each month thereafter up
to and including the _____ day of _____________, 200__. 3. Security
Deposit. Tenant shall further
pay to Landlord, prior to any use or occupancy of the Leasehold Premises, a
security deposit in the sum of ___________________________ Dollars
($_______.00), to be held as security for any damages to the Leasehold
Premises, or as payment, in whole or part, for any costs or expenses incurred
by the Landlord resulting from the failure of Tenant to surrender the premises
in the condition described in Paragraph 6 herein. Unless withheld by the Landlord, in whole or in part, by
reason of any damage to the Leasehold Premises, the security deposit shall be
returned to the Tenant within thirty (30) days after the termination of this
Lease, provided the Tenant has delivered to the Landlord a forwarding address,
in writing, at or prior to the date the Tenant shall surrender the Leasehold
Premises to the Landlord. 4. Utilities. During the term of this Lease, the
Tenant shall be solely responsible for the payment of any and all utilities of
the Leasehold Premises, including, but not limited to, gas, electric, telephone,
cable and any service fees required for the installation of these utilities. The Tenant shall also be solely responsible
for the payment of any and all water bills, sewer bills and garbage collection
costs concerning the Leasehold Premises. 5. Clean
and Sanitary Condition. During
the term of the Lease, the Tenant shall keep and maintain the Leasehold
Premises and the surrounding area in a clean and sanitary condition at all
times, free of all garbage and debris.
All garbage and similar debris shall be deposited by the Tenant in
facilities specifically for garbage collection. Tenant shall be responsible fro placing the garbage bas
and/or containers and recycling container(s) at the curb for pick-up and to
return the containers to their appropriate place. Tenants shall further comply with all local ordinances and
regulations imposed by the City of Erie relating to maintaining the Leasehold
Premises in a clean and sanitary condition and relating to the collection of
garbage and similar debris. Tenant
shall be solely liable for any action and/or fines that may be brought by the
City of Erie, or any other enforcement agency, as a result of the Leasehold
Premises not being kept in a clean and sanitary condition. 6. Maintenance. It shall be the Tenant’s sole
responsibility to keep and maintain the entire Leasehold Premises, and every
part thereof, in good condition and repair at all times during the term of the
Lease. Tenant shall keep and
maintain the Leasehold Premises in a clean, sanitary and safe condition, at all
times during the term of the Lease, in accordance with the laws of the
Commonwealth of Pennsylvania and in accordance with all directions, rules and
regulations of the health officer, fire marshal, building inspector, or other
proper officials of the governmental agencies having jurisdiction, at the sole
cost and expense of Tenant, and Tenant shall comply with all requirements of
law, ordinance and otherwise, affecting said premises. If Tenant refuses or neglects to
commence and to complete repairs promptly and adequately, Landlord my, but
shall not be required to do so, make and complete said repairs, and Tenant
shall pay the cost thereof to Landlord upon demand. At the time of the expiration of the tenancy herein, Tenant
shall surrender the premises in good condition, reasonable wear and tear
excepted. 7. Liability
Insurance. Tenant shall,
during the entire term of this Lease, keep in full force and effect a policy of
public liability and property damage insurance with respect to the Leasehold
Premises, in which the limits of public liability shall not be less than
Five-Hundred Thousand Dollars ($500,000.00) for injury or death to one person
in one accident, One Million Dollars ($1,000,000.00) for injury or death per
occurrence and Five Hundred Thousand Dollars ($500,000.00) for property damage
per occurrence. The policy shall
name Landlord, any other parties in interest designated by Landlord, and Tenant
as insured, and shall contain a clause that the insurer will not cancel or
change the insurance without first giving Landlord thirty (30) days prior
written notice. The insurance
shall be with an insurance company approved by Landlord, and a copy of the
paid-up policy evidencing such insurance or a certificate of the insurer
certifying the insurance of such policy shall be delivered to Landlord prior to
commencement of Tenant’s Work and upon renewals not less than thirty (30) days
prior to the expiration of such coverage. 8. Personal
Property Insurance. Tenant
agrees to carry, at its sole expense, insurance against all risks of physical
loss, insuring Tenant’s fixtures, furnishings, equipment and all other items of
personal property of Tenant located on or within the Leasehold Premises, in an
amount equal to not less than one hundred percent (100%) of the actual
replacement cost thereof and to furnish Landlord with a certificate evidencing
such coverage. 9. Off-Set
Statement. Tenant agrees
within ten (10) days after request therefore by Landlord to execute in
recordable form and deliver to Landlord a statement, in writing, certifying (a)
that this Lease is in full force and effect, (b) the date of commencement of
the term of this Lease, (c) that rent is paid currently without any offset or
defense thereto, (d) the amount of rent, if any, paid in advance, (e) whether
the Lease has been modified and, if so, identifying the modifications, and (f)
that there be no uncured defaults by Landlord or stating those claimed by
Tenant, provided, that in fact such facts are accurate and ascertainable. 10. Attornment. In the event any proceedings are
brought for the foreclosure of, or in the event of the conveyance by deed in
lieu of foreclosure of, or in the event of exercise of the power of sale under
any mortgage made by Landlord covering the Leasehold Premises, Tenant hereby
attorns to, and covenants and agrees to execute an instrument in writing
reasonably satisfactory to the new owner whereby Tenant attorns to such
successor in interest and recognizes such successor as the Landlord under this
Lease. 11. Subordination.
Tenant agrees that this Lease
shall, at the request of the Landlord, be subordinate to any mortgages or deeds
of trust that may hereafter be placed upon said premises and to any and all
advances to be made thereunder, and to the interest thereon, and all renewals,
replacements and extensions thereof, provided the mortgagee or trustee named in
said mortgages or trust deeds shall agree to recognized the Lease of Tenant in
the event of foreclosure if Tenant is not in default. Tenant also agrees that any mortgagee or trustee may elect
to have this Lease a prior lien to its mortgage or deed of trust, and in the
event of such election, and upon notification by such mortgagee or trustee to
Tenant to that effect, this Lease shall be deemed prior in lien to the said
mortgage or deed of trust, whether this Lease is dated prior to or subsequent
to the date of said mortgage or deed of trust. Tenant agrees that upon the request of Landlord, any
mortgagee or any trustee, it shall execute whatever instruments may be required
to carry out the intent of this Section. 12. Assignment
and Subletting. Tenant agrees
not to assign or in any manner transfer this Lease or any estate or interest
therein by operation of law or otherwise without prior written consent of
Landlord, and not to sublet the leased premises or any part(s) thereof or allow
anyone to come in with, through or under it without like consent. Consent by Landlord to one or more
assignments of this Lease or to one or more sublettings of the leased premises
or the collection of rent by Landlord from any assignee or sub-lessee shall not
operate to exhaust Landlord’s rights under this Article. In the event that Tenant, with or
without the previous consent of Landlord, does assign or in any manner transfer
this Lease or any estate or interest therein, Tenant shall in no way be
released from any of its obligations under this Lease. 13. Waste
or Nuisance. Tenant shall not
commit or suffer to be committed any waste upon the Leasehold Premises, and
Tenant shall not place a load upon any floor of the Leasehold premises that exceeds
the floor load per square foot area which such floor is designed to carry. Tenant shall not use or permit the use
of any medium that might constitute a nuisance. 14. Reconstruction
of Damaged Premises. In the
event the Leasehold Premises shall be partially or totally destroyed by fire or
other casualty as to become partially or totally untenantable, then the damage
to the Leasehold Premises shall be promptly repaid, unless Landlord shall elect
not to rebuild as hereinafter provided, and the fixed minimum rental and other
charges shall be abated in proportion to the amount of the Leasehold Premises
rendered untenantable. In no event
shall Landlord be required to repair or replace Tenant’s trade fixtures,
furnishings or personal property.
If more than Twenty-five percent (25%) of the leased premises or of
floor area of the building in which the leased premises are located shall be
damaged or destroyed by fire or other casualty, then Landlord may either elect
that the Leasehold Premises be repaired or rebuilt or, at its sole option,
terminate this Lease by giving written notice to Tenant of its election to so
terminate, such notice to be given within ninety (90) days after the occurrence
of such damage or destruction. 15. Total
Condemnation of Leased Premises. If the whole of the Leasehold Premises shall be taken by any
public authority under the power of eminent domain, then the term of this Lease
shall cease as of the day possession shall be taken by such public authority
and the rent shall be paid up to that day with a proportionate refund by
Landlord of such rent as may have been paid in advance for a period subsequent
to the day of the taking. 16. Partial
Condemnation. If less than the
whole but more than Twenty-five percent (25%) of the Leasehold Premises shall
be taken under eminent domain, Landlord shall have the right either to
terminate this Lease and declare the same null and void, or to restore the
remaining portion of the leased premises or the building to a complete
architectural unit. In the event
Landlord elects to restore, all of the terms herein provided shall continue in
effect, except the fixed annual rental shall be reduced in proportion to the
amount of the leased premise taken. If Twenty-five percent (25%)
or less of the Leasehold Premises shall be so taken, the lease term shall cease
only as to the part so taken s of the day possession shall be taken by such
public authority, and Tenant shall pay rent up to that date, with appropriate
refund by Landlord of such rent as may have been paid in advance for a period
subsequent to the date of the taking, and thereafter the fixed minimum annual
rental shall be reduced in proportion to the amount of the leased premises
taken. In such event, or in the
event that Twenty-five percent (25%) or less of the Leasehold Premises shall be
taken, Landlord shall, at its expense, make all necessary repairs or
alterations to the basic building, originally installed by Landlord, so as to
constitute the remaining leased premises a complete architectural unit. 17. Landlord’s
and Tenant’s Damages. All
damages awarded for such taking under the power of eminent domain, whether for
the whole or a part of the leased premises, shall belong to and be the property
of Landlord whether such damages shall be awarded as compensation for
diminution in value to the leasehold or the fee of the premises, and Tenant
shall have no claim against either Landlord or the condemning authority with respect
thereto; provided, however, that Landlord shall not be entitled to the ward
made for depreciation to, and cost of removal of Tenant’s stock and fixtures. 18. Default.
ALL RIGHTS AND REMEDIES OF
LANDLORD HEREIN ENUMERATED SHALL BE CUMULATIVE AND NONE SHALL EXCLUDE ANY OTHER
RIGHTS OR REMEDIES ALLOWED BY LAW.
TENANT COVENANTS AND AGREES THAT IF: 1. TENANT
SHALL FAIL, NEGLECT OR REFUSE TO PAY ANY INSTALLMENT OF ALL RENT AT THE TIME
AND IN THE AMOUNT AS HEREIN PROVIDED, OR TO PAY ANY OTHER MONIES AGREED BY IT
TO BE PAID PROMPTLY WHEN AND AS THE SAME SHALL BECOME DUE AND PAYABLE UNDER THE
TERMS HEREOF, AND IF ANY SUCH DEFAULT SHOULD CONTINUE FOR A PERIOD OF MORE THAN
TEN (10) DAYS; 2. TENANT
SHALL ABANDON OR VACATE THE LEASEHOLD PREMISES OR FAIL TO KEEP THE LEASED
PREMISES CONTINUOUSLY AND UNINTERRUPTEDLY OPEN FOR BUSINESS EACH BUSINESS DAY
OR SHALL FAIL, NEGLECT OR REFUSE TO KEEP AND PERFORM ANY OF THE OTHER
COVENANTS, CONDITIONS, STIPULATIONS OR AGREEMENTS HEREIN CONTAINED AND
COVEENANTED AND AGREED TO BE KEPT AND PERFORMED BY IT, AND IN THE EVENT ANY
SUCH DEFAULT SHALL CONTINUE FOR A PERIOD OF MORE THAN TEN (10) DAYS AFTER
NOTICE THEREOF GIVEN IN WRITING TO TENANT BY LANDLORD PROVIDED HOWEVER THAT IF
THE CAUSE FOR GIVING SUCH NOTICE INVOLVES THE MAKING OF REPAIRS OR OTHER
MATTERS REASONABLE REQUIRING A LONGER PERIOD OF TIME THAT THE PERIOD OF SUCH
NOTICE. TENANT SHALL BE DEEMED TO
HAVE COMPLIED WITH SUCH NOTICE SO LONG AS IT HAS COMMENCED TO COMPLY WITH SAID
NOTICE WITHIN THE PERIOD SET FORTH IN THE NOTICE AND IS DILIGENTLY PROSECUTING
COMPLIANCE OF SAID NOTICE OR HAS TAKEN PROPER STEPS OR PROCEEDING UNDER THE
CIRCUMSTANCES TO PREVENT THE SEIZURE, DESTRUCTION, ALTERATION OR OTHER
INTERFERENCE WITH SAID LEASED PREMISES BY REASON ON NON-COMPLIANCE WITH THE
REQUIREMENTS OF ANY LAW OR ORDINANCE OR WITH THE RULES, REGULAIONS, OR
DIRECTIONS OF ANY GOVERNMENTAL AUTHORITY AS THE CASE MAY BE; THEN THE TENANT
DOES HEREBY AUTHORIZE AND FULLY EMPOWER SAID LANDLORD OR LANDLORD’S AGENT TO
CANCEL OR ANNUL THIS LEASE AT ONCE AND TO RE-ENTER AND TAKE POSSESSION OF SAID
PREMISES IMMEDIATELY, AND BY FORCE IF NECESSARY, WITHOUT ANY PREVIOUS NOTICE OF
INTENTION TO RE-ENTER AND REMOVE ALL PERSONS AND THEIR PROPERTY THEREFROM, AND
TO USE SUCH FORCE AND ASSISTS IN EFFECTING AND PERFECTING SUCH REMOVAL OF SAID
TENANT AS MAY BE NECESSARY AND ADVISABLE TO RECOVER AT ONCE FIRST AND EXCLUSIVE
POSSESSION OF ALL SAID LEASED PREMISES WHETHER IN POSSESSION OF SAID TENANT OR
OF THIRD PERSONS OR OTHERWISE, WITHOUT BEING DEEMED GUILTY OF ANY MANNER OF
TRESPASS AND WITHOUT PREJUDICE TO ANY REMEDIES WITH MIGHT OTHERWISE BE USED BY
LANDLORD, IN WHICH EVENT THIS LEASE SHALL TERMINATE AND TENANT SHALL INDEMNIFY
THE LANDLORD AGAINST ALL UNAVOIDABLE LOSS OF RENT WHICH LANDLORD MAY INCUR BY
REASON OF SUCH TERMINATION DURING THE RESIDUE OF THE TERM HEREIN SPECIFIED. THE LANDLORD MAY, HOWEVER, AT
ITS OPTION, AT ANY TIME AFTER SUCH DEFAULT OR VIOLATION OF CONDITION OR
COVENANT, RE-ENTER AND TAKE POSSESSION OF SAID PREMISES WITHOUT SUCH RE-ENTRY
WORKING A FORFEITURE OF THE RENTS TO BE PAID AND THE COVENANTS, AGREEMENTS AND
CONDITIONS TO BE KEPT AND PERFORMED BY TENANT FOR THE FULL TERM OF THIS
LEASE. IN SUCH EVENT LANDLORD
SHALL HAVE THE RIGHT, BUT NOT THE OBLIGATION, TO DIVIDE OR SUBDIVIDE THE LEASEHOLD
PREMISES IN ANY MANNER LANDLORD MAY DETERMINE AND TO LEASE OR LET THE SAME OR
PORTIONS HEREOF FOR SUCH PERIOD OF TIME AND AT SUCH RENTALS AND FOR SUCH USE
AND UPON SUCH COVENANTS AND CONDITIONS AS LANDLORD MAY ELECT, APPLYING THE NET
RENTALS FROM SUCH LETTING FIRST TO THE PAYMENT OF LANDLORD’S EXPENSES INCURRED
IS DISPOSSESSING TENANT AND THE COST AND EXPENSE OF MAKING SUCH IMPROVEMENTS IN
THE LEASEHOLD PREMISES AS MAY BE NECESSARY IN ORDER TO ENABLE LANDLOR TO RE-LET
THE SAME, AND TO THE PAYMENT OF BROKERAGE COMMISSIONS OR OTHER NECESSARY
EXPENSES OF LANDLORD IN CONNECTION WITH SUCH RE-LETTING. THE BALANCE, IF ANY, SHALL BE APPLIED
BY LESSOR FROM TIME TO TIME ON ACCOUNT OF THE PAYMENTS DUE OR PAABLE BY TENANT
HEREUNDER, WITH THE RIGHT RESERVED TO LANDLORD TO BRING SUCH ACTION OR
PROCEEDINGS FOR THE RECOVERY OF ANY DEFICITS REMAINING UNPAID AS LANDLORD MAY
DEEM FAVORABLE FROM TIME TO TIME, WITHOUT BEING OBLIGATED TO AWAIT THE END OF
THE TERM HEREOF FOR THE FINAL DETERMINATION OF TENANTS ACCOUNT. ANY BALANCE REMAINING HOWEVER, AFTER
FULL PAYMENT AND LIQUIDATION OF LANDLORD’S ACCOUNT AS AFORESAID SHALL BE PAID
TO TENANT WITH THE RIGHT RESERVED TO LANDLORD AT ANY TIME TO GIVE NOTICE IN
WRITING TO TENANT OF LANDLORD’S ELECTION TO CANCEL AND TERMINATE THIS LEASE AND
UON GIVING OF SUCH NOTICE AND THE SIMULTANEOUS PAYMENTS BY LANDLORD TO TENANT
OF ANY CREDIT BALANCE IN TENANT’S FAVOR THAT MAY AT THE TIME BE OWING TO TENANT
SHALL CONTITUTE A FINAL AND EFFECTIVE CANCELLATION AND TERMINATION OF THIS
LEASE AND THE OBLIGATIONS HEREUNDER ON THE PART OF EITHER PARTY TO THE OTHER. LANDLORD MAY, AT ITS OPTION,
WHILE SUCH DEFAULT OR VIOLATION OF COVENANT OR CONDITION CONTINUES, AND AFTER
TEN (10) DAYS NOTICE OF ITS INTENTION SO TO DO, DECLARE ALL THE RENT RESERVED
FOR THE FULL TERM OF THIS LEASE REMAINING UNPAID DUE AND PAYABLE AT ONCE; AND
TENANT DOES HEREBY EMPOWER ANY ATTORNEY OF ANY COURT OF RECORD IN THE STATE OF
PENNSYLVANIA OR ELSEWHERE TO APPEAR FOR IT AN WAIVE THE ISSUANCE AND SERVICE OF
PROCESS AND CONFESS JUDGMENT AGAINST IT FOR THE WHOLE OR ANY PART OF SAID RENT
AND THEREAFTER TO RELEASE ALL ERRORS AND WARRANT ALL RIGHTS OF APPEAL AND STAY
OF EXECUTION. THE INITIAL EXERCISE
OR USE OF THIS WARRANT OF ATTORNEY SHALL NOT EXHAUST THE SAME, BUT THE SAME MAY
BE USED AND EXERCISED WITHOUT LIMITATION AS OFTEN AS NECESSITYFOR THE USE OF
THE SAME ARISE. THE EXERCISE OR
USE OF THIS WARRANT OF ATTORNEY SHALL NOT PREVENT LANDLORD FROM SUBSEQUENTLY
TERMINATING THIS LEASE, BY GIVING NOTICE TO TENANT OF ITS ELECTION SO TO DO AND
UPON ITS TENDER TO TENANT OF A SUM EQUAL TO THE AMOUNT, IF ANY, PAID BY THE
TENANT FOR RENTS ACCRUING AFTER THE DATE OF SUCH TERMINATION. IN ADDITION TO THE OTHER
RIGHTS GRANTE TO THE LANDLORD HEREUNDER, LANDLORD MAY, AT ITS OPTION, WHILE
SUCH DEFAULT OR VIOLATIONS OF CONVENANTS OR CONDITION CONTINUE(S), AND AFTER
TEN (10) DAYS’ NOTICE OF ITS INTENTIONS TO DO SO, CONFESS JUDGMENT FOR
POSSESSION OF THE LEASED PREMISE AND TENANT DOES HEREBY EMPOWER ANY ATTORNEY OF
ANY COURT TO RECORD IN THE COMMONWEALTH OF PENNSYLVANIA OR ELSEWHERE TO APPEAR
FOR IT AND WAIVE THE ISSUANCE AND SERVICE OF PROCESS AND CONFESS A JUDGMENT IN
EJECTMENT. ALSO IN ADDITION TO THE OTHER
RIGHTS GRANTED TO LANDLORD UNDER THIS LEASE, TENANT AGREES THAT IN THE EVENT
THAT THE AMOUNTS DUE LANDLORD UNDER THIS LEASE ARE COLLECTED BY LAW OR THROUGH
AN ATTORNEY AT LAW, AND JUDGMENT IS ENTERED IN FAVOR OF LANDLORD AGAINST
TENANT, WHETHER BY CONFESSION OR OTHERWISE, THEN TENANT AGREES TO PAY ALL COSTS
OF COLLECTION, INCLUDING ATTORNEY’S FEES IN THE AMOUNT OF TEN PERCENT (10%) OF
THE JUDGMENT OR FIVE HUNDRED DOLLARS ($500.00), WHICHEVER IS GREATER. 19. Right
of Entry. Landlord or
Landlord’s agent shall have the right to enter the Leasehold Premises at all
reasonable times to examine the same, and to make such repairs, alterations,
improvements or additions as Landlord may deem necessary or desirable, and
Landlord shall be allowed to take all material into and upon said premises that
may be required therefore without the same constituting an eviction of Tenant
in whole or in part, and the rent reserved shall in now wise abate while said
repairs, alterations, improvements or additions are being made, by reason of
loss or interruption of business of Tenant, or otherwise. 20. Loss
and Damage to Tenant’s Property. The Landlord shall not be responsible or liable to the Tenant
for any loss or damage that may be occasioned by or through the acts or
omissions of persons occupying adjoining premises or any part of the premises
adjacent to the Leasehold Premises or any part, or for any loss or damages
resulting to the Tenant or its property from bursting, stoppage or leaking of
water, gas, sewer or steam pipes or for any damage or loss of property within
the Leasehold Premises from any cause whatsoever. 21. Notice
by Tenant. Tenant shall give
immediate notice to Landlord in case of fire or accidents in the leased
premises or in the building of which the premises are a part or of defects
therein or in any fixtures or equipment. 22. Holding
Over. Any holding over after
the expiration of the term hereof with the consent of the Landlord, shall be
construed to be a tenancy from month to month (at twice the monthly minimum
rental herein specified). 23. Successors. All rights and liabilities herein given
to, or imposed upon, the respective parties hereto shall extend to and bind the
several respective heirs, executors, administrators, successors, and assigns of
the said parties; and if there shall be more than one Tenant, they shall be
bound jointly and severally by the terms, covenants and agreements herein. No rights, however, shall inure to the
benefit of any assignee of Tenant unless the assignment to such assignee has
been approved by Landlord in writing as provided in Paragraph 12 herein. 24. Landlord’s
Covenant. Upon payment by the
Tenant of the rents herein provided, and upon the observance and performance of
all the covenants, terms and conditions on Tenant’s part to be observed and
performed, Tenant shall peacefully and quietly hold and enjoy the leased premises
for the term hereby demised without hindrance or interruption by Landlord or
any other person or persons lawfully or equitably claiming by, through or under
the Landlord, subject nevertheless to the terms and conditions of this Lease,
and any mortgages to which this Lease is subordinate. 25. An option to purchase
(“Option”) is granted on the Leasehold Premises by __________________________,
the “Seller,” to ______________________________, the “Buyer.” Seller, intending to bind Seller,
Seller’s heirs, successors and assigns, in consideration
of the sum of _________________ Dollars
($______________________) (the “Option Money”) paid to Seller by Buyer, receipt
of which is acknowledged, grants to the Buyer, Buyer’s heirs, successors, assigns or representatives, the exclusive right and option to purchase all of that certain parcel of
land, together with all improvements located thereon (collectively, the
“Property”), in the Township of ___________________, County of Erie,
Commonwealth of Pennsylvania, and more particularly described as follows: Legal
Description: _______________________________________________________ A.
Option Period: This Option shall exist and continue from the date hereof
until ___________ o’clock ___.M. on ____________________________ (“Option
Period”). TIME IS OF THE ESSENCE WITH RESPECT TO THE OPTION PERIOD AND
EXERCISE. B. Exercise: At any time during the Option
Period, Buyer may exercise this Option by giving Seller a written notice
thereof signed by the Buyer, which exercise is effective upon (a) hand
delivery, (b) completed facsimile transmission, or (c) prepaid deposit of the
notice with an overnight commercial delivery service or in certified mail,
return receipt requested, at the following address of the Seller: Phone:_______________
Fax: ________________________ C.
Contract Upon Exercise: Upon exercise of this Option, the
terms of purchase and sale shall be as set forth on the completed standard
“Agreement to Purchase Real Estate," which is attached as Exhibit “A” and incorporated herein by
reference. 26. Waiver.
One or more waivers of any
covenant or condition by Landlord shall not be construed as a waiver of a
subsequent breach of the same covenant or condition, and the consent or
approval by Landlord to or of any act by Tenant requiring Landlord’s consent or
approval shall not be deemed to render unnecessary Landlord’s consent or
approval to or of any subsequent similar act by Tenant. No breach of a covenant or condition of
this Lease shall be deemed to have been waived by Landlord, unless such waiver
is in writing and signed by Landlord. 27. Notices.
Any notice, demand, request or
other instrument which may be or is required to be given under this Lease shall
be sent by United States certified mail, return receipt requested, postage
prepaid and shall be addressed (a) if to Landlord, at the address first above
stated, or at such other address as Landlord shall designate by written notice,
(b) if to Tenant, to the leased premises or at such other address as Tenant
shall designate by written notice, and shall be effective upon deposit with the
U.S. Postal Department. 28. Captions
and Section Numbers. The
captions, section numbers, and article numbers, appearing in this Lease are
inserted only as a matter of convenience and in no way define, limit, construe
or describe the scope or intent of such sections of this Lease nor in any way
affect this Lease. 29. Recording. Tenant shall not record this Lease
without the written consent of Landlord; however, upon the request of either
party hereto, the other party shall join in the execution of a memorandum or
so-called “short form” of this Lease for the purpose of recordation. Said memorandum or short form of this
Lease shall describe the parties, the Leasehold Premises, the term of this
Lease, and special provisions, and shall incorporate this Lease by reference. 30. Transfer
of Landlord’s Interest. In the
event of any transfer or transfers of Landlord’s interest in the Leasehold
Premises, the transferor shall be automatically relieved of any and, all
obligations on the part of Landlord accruing from and after the date of such
transfer, including, but not limited to, any obligation to Tenant with respect
to the security deposit referred to in Paragraph 3 of this Lease upon
assignment of the same to the transferee, provided that the interest of the
transferor, as Landlord, in any funds then in the hands of Landlord in which
Tenant has an interest shall be turned over, subject to such interest, to the
ten transferee. No holder of a
mortgage to which this Lease is or may be subordinate shall be responsible in
connection with the security deposited hereunder, unless such mortgagee or hold
of such deed of trust shall have actually received the security deposited
hereunder. 31. Accord
and Satisfaction. No payment
by Tenant or receipt by Landlord of a lessor amount than the monthly rent
herein stipulated shall be deemed to be other than on account of the earliest
stipulated rent, nor shall any endorsement or statement of any check or any
letter accompanying any check or any payment as rent be deemed an accord and
satisfaction, and Landlord shall accept such check or payment without prejudice
to Landlord’s right to cover the balance of such rent or pursue any other
remedy in this Lease provided. 32. Laws
of the Commonwealth of Pennsylvania.
This Lease shall be governed by and construed in accordance with the
laws of the Commonwealth of Pennsylvania.
If any provision of this Lease or the application thereof to any person
or circumstances shall, to any extent, be invalid or unenforceable, the
remainder of this Lease shall not be affected thereby and each provision of the
Lease shall be valid and enforceable to the fullest extent permitted by law. 33. Entire
Agreement. This Lease and the
exhibits, if any, attached hereto and forming a part thereof, set forth all the
covenants, promises, agreements, conditions and understandings between Landlord
and Tenant concerning the leased premises and their are not covenants,
promises, agreements, conditions or understandings, either oral or written,
between them other than herein set forth.
No alterations, amendment, change or addition to this Lease shall be
binding upon Landlord or Tenant unless reduced to writing and signed by each
party. 34. New
Taxes. Should any governmental
taxing authority acting under any present or future law, ordinance or
regulation, levy, assess or impose a tax, excise, assessment and/or any
business and/or occupation taxes (other than income or franchise tax) upon or
against the rentals payable by Tenant to Landlord, either by way of
substitution or in addition to any existing tax on land and buildings or
otherwise, Tenant shall be responsible for and shall pay such tax, excise,
assessment, and any business and occupation taxes levied directly against the
Tenant, or shall reimburse Landlord for the amount thereof, as the case may be,
as additional rent, on or before the date that any fine, penalty or interest
would be added thereto for non-payment.
Tenant shall also pay its pro-rata share of any tax or charge levied in
lieu of Real Estate taxes. 35. Heirs
and Successors. This agreement
shall be binding on and shall inure to the benefit of the parties hereto, their
respective heirs, successors, personal representatives and assigns. 36. Counterparts. This Lease may be signed in one or more
counterparts, and all such counterparts shall form but one integrated
agreement. This Lease may be
executed by facsimile signatures. WITNESS: LANDLORD: ___________________________ __________________________ WITNESS: TENANT: ___________________________ __________________________
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