LEASE AGREEMENT 561: THE PRO-LANDLORD RETAIL LEASE FOR THE OFFICE LOBBY TENANT $99.95
THIS AGREEMENT OF LEASE is made this ___ day of _________between ___________ (“Landlord”) and _______________ (“Tenant”)
ARTICLE 1 - PREMISES
Section 1.01. In consideration of the rents, charges, covenants and agreements herein contained Landlord does hereby demise and lease to Tenant and Tenant does hereby hire and take from Landlord approximately 216 square feet of space in the building known as ______________________ (the “Building”) which is described as to location and square foot area on the floor plans attached hereto as Exhibit “A” (the “Demised Premises”). Tenant and its successors and permitted assigns shall have and hold the Demised Premises for the Term of this Lease subject to the full and timely performance of all of the covenants and conditions of this Lease and covenants and restrictions of record, if any.
ARTICLE 2 - TERM
Section 2.01. The term of this Lease shall be five (5) years, terminable without cause at the end of each year of the term by either party by giving written notice to the other party sixty (60) days prior to the end of each year of the term. The term shall commence on ____________, or the first day of the month following occupancy by the Tenant, whichever occurs first (the “Commencement Date”) and shall end, unless sooner terminated, at midnight on the last day of the sixtieth (60th) full calendar month thereafter.
ARTICLE 3 - RENT
Section 3.01. Tenant agrees to pay to Landlord without notice or demand in advance on the first day of each calendar month for the use of the Demised Premises, in lawful money of the United States, the following Basic Monthly Rent:
Year 1 — $________ per month
Year 2 — $________ per month
Year 3 — $________ per month
Year 4 — $________ per month
Year 5 — $________ per month
(a) In addition to the Basic Monthly Rent to be paid by Tenant pursuant to Article 4, Tenant shall pay to Land lord, at the time and in the manner herein specified, additional rent in an amount equal of five percent (5%) of gross sales of magazine and confectionary products, six percent (6%) of gross sales of other food products, and seven percent (7%) of gross sales of all other commodities made in, upon or from the Demised Premises during each calendar year of the Lease term, less the aggregate amount of the Basic Monthly Rent previously paid by Tenant for said calendar year.
(b) Within ten (10) days after the end of each calendar month following commencement of rents, Tenant shall furnish to Landlord a statement in writing, certified by Tenant to be correct, showing the total gross sales made in, upon, or from the Demised Premises during the preceding calendar month in each of the above mentioned three categories of commodities and shall accompany each such statement with a payment to Landlord equal to said hereinabove stated percentages of each category of total monthly gross sales made in, upon, or from the Demised Premises during each calendar month less the Basic Monthly Rent for such prior calendar month previously paid. Within thirty (30) days after the end of each calendar year of the term hereof, Tenant shall furnish to Landlord a statement in writing, certified to be correct, showing the total gross sales by category for each month made in, upon, or from the Demised Premises during the preceding calendar year, at which time an adjustment shall be made between Landlord arid Tenant to the end that the total percentage rent paid for each such calendar year shall be a sum equal to said hereinabove stated percentage of the total gross sales in each category made in, upon, or from the Demised Premises during each calendar year of the term hereof, less the Basic Monthly Rent for each such calendar year previously paid, so that the percentage rent, although payable monthly, shall be computed and adjusted on an annual basis.
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