Can I get some help from a lawyer?
- Thread starter Chiboy
- Start date
MartyMcFly3
Lifer
Maybe you could post it or a link to it here, so all the AT in-house lawyers can have a go at it.
- Jun 4, 2002
- 3,814
- 6
- 81
THIS LEASE is made between RP herein called Lessor, and AR herein called Lessee.
Lessee hereby offers to lease from Lessor the premises situated in the City of Chicago, County of Cook, State of Illinois, described as **** N. Milwaukee Ave., First Floor, Chicago, IL ****, containing approximately 5,000 square feet, upon the following Terms and Conditions.
TERM AND RENT. Lessor demises the above premises for a term of Five Years, commencing April 1, 2005, and terminating on March 31, 2010, or sooner as provided herein at the rental amounts shown below, payable in advance on the first of each month for that month?s rental. Payments received later than the tenth of the month will be subject to a late fee of $250.00. All rental payments should be made payable to Raul Perez, at 2539 N. Milwaukee Ave., Chicago, IL 60647 as follows:
Beginning April 1, 2005- March 31, 2006 --$4,700.00 Due Monthly;
Beginning April 1, 2006- March 31, 2007 --$4,817.50 Due Monthly;
Beginning April 1, 2007- March 31, 2008 --$4,935.00 Due Monthly;
Beginning April 1, 2008- March 31, 2009 --$5,052.50 Due Monthly;
Beginning April 1, 2009- March 31, 2010 --$5,170.00 Due Monthly.
The first two (2) months of rent shall be abated. Upon Lease execution, Tenant shall provide Landlord with the Security Deposit ($9,400.00).
USE AND POSSESSION. Lessee shall use and occupy the premises for clothing retail and wholesale. The premises shall be used for no other purpose. Lessor represents that the premises may lawfully be used for such purpose. Lessee may take possession of the premises on April 1, 2005. Lessee will yield up immediate possession of premises upon the expiration or termination of this lease.
SECURITY DEPOSIT. Lessee shall deposit with Lessor on the signing of this lease the sum of ($9,400.00) as security for the performance of Lessee?s obligations under this lease, including without limitation the surrender of possession of the premises to Lessor as herein provided. If Lessor applies any part of the deposit to cure any default of Lessee, Lessee shall on demand deposit with Lessor the amount so applied so that Lessor shall have the full deposit on hand at all times during the term of this lease. Upon expiration or termination of this lease, Lessor will return security deposit, or balance thereof, within thirty (30) days.
CARE AND MAINTENANCE OF PREMISES. Lessee acknowledges that the premises are in good order and repair. Lessee shall, at his own expense and at all times, maintain the premises in good and safe condition, including plate glass, electrical wiring, plumbing and HVAC installations and any other system or equipment upon the premises and shall surrender the same, at the termination hereof, in as good working condition as received, normal wear and tear, and damage covered by casualty insurance excepted. Lessee shall be responsible for all repairs required, excepting for latent defects which shall be the responsibility of Lessor. Lessor will be responsible for major repairs or replacement of electrical, HVAC, and plumbing systems. Lessee shall keep that portion of sidewalk in front of Lessee?s space free from dirt and refuse, and Lessee will keep same free from snow and ice.
ALTERATIONS AND SIGNAGE. Lessee shall not, without first obtaining the written consent of the Lessor, make any alterations, additions, or improvements, in, to, or about the premises, which consent will not be unreasonably withheld or delayed.
ORDINANCES AND STATUTES. Lessee shall comply with all statutes, ordinances and requirements of all municipal, state and federal authorities now in force, or which may hereafter be in force, pertaining to the interior, non-structural portions of the premises, occasioned by the use thereof by Lessee.
ASSIGNMENT AND SUBLETTING. Lessee shall not assign this lease or sublet any portion of the premises without the prior consent of the Lessor, which shall not be unreasonably withheld. Any such assignment or subletting without consent shall be void and, at the option of the Lessor, may terminate the lease.
UTILITIES. All applications and connections for necessary utility services on the demised premises shall be made in the name of the Lessee only, and Lessee shall be solely liable for utility charges as they become due. Lessor represents that all necessary utilities for demised premises are separately metered and that Lessee shall pay only for utilities which are so metered and relate to use of premises, other than water which may be sub metered or Tenant may be required to pay their proportionate share.
ENTRY AND INSPECTION. Lessee shall permit Lessor or Lessor?s agents to enter upon the premises at reasonable times and upon reasonable notice, for the purpose of inspecting the same, and will permit Lessor at any time within ninety (90) days prior to the expiration of this lease, to place upon the premises any usual ?To Let? or ?For Lease? signs, and permit persons desiring to lease the same to inspect the premises thereafter. Lessor shall use its best efforts not to interrupt Lessee?s business.
INDEMNIFICATION OF LESSOR. Except as provided by Illinois Law, Lessor shall not be liable for any damage or injury to Lessee, or any other person, or to any property, occurring on the demised premises or any part thereof, and Lessee agrees to hold Lessor harmless from any claims for damages, no matter how caused. Except as provided by Illinois Law, Lessee shall not be liable for any damage or injury to Lessor, or any other person, or to any property, occurring in any common area under the exclusive control of the Lessor, and Lessor agrees to hold Lessee harmless from any claims for damages, no matter how caused, unless covered by Lessee?s insurance. Notwithstanding anything to the contrary contained in the forgoing or elsewhere in this Lease, Lessor and Lessee agree that in no event shall Lessor or Lessee be released or discharged from any responsibility or liability which results from or arises out of their negligent or intentional misconduct or the actions of other Lessor or Lessee Parties, or their breach or violation of any of the terms of this Lease.
INSURANCE. Lessee, at his expense, shall maintain plate glass and public liability insurance including bodily injury and property damage insuring Lessee and Lessor in the amount of not less than $1,000,000.00 combined single limit. Lessee shall provide Lessor with a Certificate of Insurance showing Lessor as additional insured. The Certificate shall provide for a thirty-day (30) written notice to Lessor in the event of cancellation or material change of coverage. To the maximum extent permitted by insurance policies which may be owned by Lessor or Lessee, Lessee and Lessor, for the benefit of each other, waive any and all rights of subrogation which might otherwise exist.
LESSOR?S REMEDIES ON DEFAULT. If Lessee defaults in the payment of rent, or any additional rent, or defaults in the performance of any other covenants or conditions hereof, Lessor shall give Lessee notice of such default and if Lessee does not cure any such default within five (5) days, after the receipt of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Lessee does not commence such curing within such five (5) days and thereafter proceed with reasonable diligence and in good faith to cure such default), then Lessor may terminate this lease on not less than ten (10) days? further notice to Lessee. On the date specified in such notice the term of the lease shall terminate, and Lessee shall then quit and surrender the premises to Lessor, but Lessee shall remain liable as herein provided. If this lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the premises by any lawfully means and remove Lessee or other occupants and their effects. Lessor shall use reasonable effort to mitigate damages. No failure to enforce any term shall be deemed a waiver.
TOTAL OR PARTIAL DESTRUCTION OF PREMISES. In the event of a partial destruction of the premises from any cause or any occurrence which disrupts Lessee?s ability to use all or part of premises, during the term hereof, Lessor shall forthwith repair the same, proved that such repairs can be made within thirty (30) days under existing governmental laws and regulations, but such partial destruction or disruption shall not terminate this lease, except that Lessee shall be entitled to a proportionate reduction of rent while such repairs are being made, based upon the extent to which the making of such repairs shall interfere with the business of Lessee on the premises. If such repairs cannot be made within said thirty (30) days, this lease may be terminated at the option of Lessor or Lessee.
COMMON AREAS AND REAL ESTATE TAXES. Lessee?s base rent shall include the cost of all common area maintenance and repair as well as Lessee?s proportionate share of real estate taxes for the premises for the initial and renewal term. Lessee will be responsible for its own garbage removal.
OPTION TO TERMINATE. In the event of a sale of the building or the building undergoing a substantial renovation, the Lessor may at his option, terminate this lease with six (6) months prior written notice.
ATTORNEY?S FEES. In case a suit should be brought for recovery of the premises, or for any sum due hereunder, or because of any act which may arise out of possession of the premises, by either party, the prevailing party shall be entitled to all costs incurred in connection with such action, including a reasonable attorney?s fee.
WAIVER. No failure of Lessor to enforce any term hereof shall be deemed to be a waiver.
NOTICES. Any notice which either party may or is required to give, shall be given by mailing the same, postage prepaid, to Lessee or Lessor at the addresses specified below, or at such other places as may be designated by the parties from time to time.
To Lessee: To Lessor:
A R R P
**** N. **** Ave. **** N. ***** Ave.
Chicago, IL ***** Chicago, IL *****
HEIRS, ASSIGNS, AND SUCCESSORS. This lease is binding upon and inures to the benefit of the heirs, assigns and successors in interest to the parties.
SUBORDINATION. This lease is and shall be subordinated to all existing and future liens and encumbrances against the property.
ENTIRE AGREEMENT. The foregoing constitutes the entire agreement between the parties and may by modified only by a writing signed by both parties.
OPTION TO RENEW. Tenant shall have one (1) five (5) year option to renew their lease provided they are not in default or delinquent in their rental payments. Notice shall be given between six and nine months prior in writing in order to exercise. All terms shall remain the same other than rent, which shall escalate at two and one-half percent (2.5%) annually. If notice is not given in the manner provided herein within the time specified, this option shall expire.
SIGNED THIS ________ DAY OF MARCH, 2005
LESSOR:
_______________________________
R P
LESSEE:
_______________________________
A R
GUARANTEE:
On this _______ day of March, 2005 in consideration of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the undersigned Guarantors hereby guarantee the payment of rent and performance by Lessee, Lessee?s heirs, executors, administrators, successors or assigns of all covenants and agreements of the above lease for one years rent during the entire lease term.
_____________________________
A R
Lessee hereby offers to lease from Lessor the premises situated in the City of Chicago, County of Cook, State of Illinois, described as **** N. Milwaukee Ave., First Floor, Chicago, IL ****, containing approximately 5,000 square feet, upon the following Terms and Conditions.
TERM AND RENT. Lessor demises the above premises for a term of Five Years, commencing April 1, 2005, and terminating on March 31, 2010, or sooner as provided herein at the rental amounts shown below, payable in advance on the first of each month for that month?s rental. Payments received later than the tenth of the month will be subject to a late fee of $250.00. All rental payments should be made payable to Raul Perez, at 2539 N. Milwaukee Ave., Chicago, IL 60647 as follows:
Beginning April 1, 2005- March 31, 2006 --$4,700.00 Due Monthly;
Beginning April 1, 2006- March 31, 2007 --$4,817.50 Due Monthly;
Beginning April 1, 2007- March 31, 2008 --$4,935.00 Due Monthly;
Beginning April 1, 2008- March 31, 2009 --$5,052.50 Due Monthly;
Beginning April 1, 2009- March 31, 2010 --$5,170.00 Due Monthly.
The first two (2) months of rent shall be abated. Upon Lease execution, Tenant shall provide Landlord with the Security Deposit ($9,400.00).
USE AND POSSESSION. Lessee shall use and occupy the premises for clothing retail and wholesale. The premises shall be used for no other purpose. Lessor represents that the premises may lawfully be used for such purpose. Lessee may take possession of the premises on April 1, 2005. Lessee will yield up immediate possession of premises upon the expiration or termination of this lease.
SECURITY DEPOSIT. Lessee shall deposit with Lessor on the signing of this lease the sum of ($9,400.00) as security for the performance of Lessee?s obligations under this lease, including without limitation the surrender of possession of the premises to Lessor as herein provided. If Lessor applies any part of the deposit to cure any default of Lessee, Lessee shall on demand deposit with Lessor the amount so applied so that Lessor shall have the full deposit on hand at all times during the term of this lease. Upon expiration or termination of this lease, Lessor will return security deposit, or balance thereof, within thirty (30) days.
CARE AND MAINTENANCE OF PREMISES. Lessee acknowledges that the premises are in good order and repair. Lessee shall, at his own expense and at all times, maintain the premises in good and safe condition, including plate glass, electrical wiring, plumbing and HVAC installations and any other system or equipment upon the premises and shall surrender the same, at the termination hereof, in as good working condition as received, normal wear and tear, and damage covered by casualty insurance excepted. Lessee shall be responsible for all repairs required, excepting for latent defects which shall be the responsibility of Lessor. Lessor will be responsible for major repairs or replacement of electrical, HVAC, and plumbing systems. Lessee shall keep that portion of sidewalk in front of Lessee?s space free from dirt and refuse, and Lessee will keep same free from snow and ice.
ALTERATIONS AND SIGNAGE. Lessee shall not, without first obtaining the written consent of the Lessor, make any alterations, additions, or improvements, in, to, or about the premises, which consent will not be unreasonably withheld or delayed.
ORDINANCES AND STATUTES. Lessee shall comply with all statutes, ordinances and requirements of all municipal, state and federal authorities now in force, or which may hereafter be in force, pertaining to the interior, non-structural portions of the premises, occasioned by the use thereof by Lessee.
ASSIGNMENT AND SUBLETTING. Lessee shall not assign this lease or sublet any portion of the premises without the prior consent of the Lessor, which shall not be unreasonably withheld. Any such assignment or subletting without consent shall be void and, at the option of the Lessor, may terminate the lease.
UTILITIES. All applications and connections for necessary utility services on the demised premises shall be made in the name of the Lessee only, and Lessee shall be solely liable for utility charges as they become due. Lessor represents that all necessary utilities for demised premises are separately metered and that Lessee shall pay only for utilities which are so metered and relate to use of premises, other than water which may be sub metered or Tenant may be required to pay their proportionate share.
ENTRY AND INSPECTION. Lessee shall permit Lessor or Lessor?s agents to enter upon the premises at reasonable times and upon reasonable notice, for the purpose of inspecting the same, and will permit Lessor at any time within ninety (90) days prior to the expiration of this lease, to place upon the premises any usual ?To Let? or ?For Lease? signs, and permit persons desiring to lease the same to inspect the premises thereafter. Lessor shall use its best efforts not to interrupt Lessee?s business.
INDEMNIFICATION OF LESSOR. Except as provided by Illinois Law, Lessor shall not be liable for any damage or injury to Lessee, or any other person, or to any property, occurring on the demised premises or any part thereof, and Lessee agrees to hold Lessor harmless from any claims for damages, no matter how caused. Except as provided by Illinois Law, Lessee shall not be liable for any damage or injury to Lessor, or any other person, or to any property, occurring in any common area under the exclusive control of the Lessor, and Lessor agrees to hold Lessee harmless from any claims for damages, no matter how caused, unless covered by Lessee?s insurance. Notwithstanding anything to the contrary contained in the forgoing or elsewhere in this Lease, Lessor and Lessee agree that in no event shall Lessor or Lessee be released or discharged from any responsibility or liability which results from or arises out of their negligent or intentional misconduct or the actions of other Lessor or Lessee Parties, or their breach or violation of any of the terms of this Lease.
INSURANCE. Lessee, at his expense, shall maintain plate glass and public liability insurance including bodily injury and property damage insuring Lessee and Lessor in the amount of not less than $1,000,000.00 combined single limit. Lessee shall provide Lessor with a Certificate of Insurance showing Lessor as additional insured. The Certificate shall provide for a thirty-day (30) written notice to Lessor in the event of cancellation or material change of coverage. To the maximum extent permitted by insurance policies which may be owned by Lessor or Lessee, Lessee and Lessor, for the benefit of each other, waive any and all rights of subrogation which might otherwise exist.
LESSOR?S REMEDIES ON DEFAULT. If Lessee defaults in the payment of rent, or any additional rent, or defaults in the performance of any other covenants or conditions hereof, Lessor shall give Lessee notice of such default and if Lessee does not cure any such default within five (5) days, after the receipt of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Lessee does not commence such curing within such five (5) days and thereafter proceed with reasonable diligence and in good faith to cure such default), then Lessor may terminate this lease on not less than ten (10) days? further notice to Lessee. On the date specified in such notice the term of the lease shall terminate, and Lessee shall then quit and surrender the premises to Lessor, but Lessee shall remain liable as herein provided. If this lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the premises by any lawfully means and remove Lessee or other occupants and their effects. Lessor shall use reasonable effort to mitigate damages. No failure to enforce any term shall be deemed a waiver.
TOTAL OR PARTIAL DESTRUCTION OF PREMISES. In the event of a partial destruction of the premises from any cause or any occurrence which disrupts Lessee?s ability to use all or part of premises, during the term hereof, Lessor shall forthwith repair the same, proved that such repairs can be made within thirty (30) days under existing governmental laws and regulations, but such partial destruction or disruption shall not terminate this lease, except that Lessee shall be entitled to a proportionate reduction of rent while such repairs are being made, based upon the extent to which the making of such repairs shall interfere with the business of Lessee on the premises. If such repairs cannot be made within said thirty (30) days, this lease may be terminated at the option of Lessor or Lessee.
COMMON AREAS AND REAL ESTATE TAXES. Lessee?s base rent shall include the cost of all common area maintenance and repair as well as Lessee?s proportionate share of real estate taxes for the premises for the initial and renewal term. Lessee will be responsible for its own garbage removal.
OPTION TO TERMINATE. In the event of a sale of the building or the building undergoing a substantial renovation, the Lessor may at his option, terminate this lease with six (6) months prior written notice.
ATTORNEY?S FEES. In case a suit should be brought for recovery of the premises, or for any sum due hereunder, or because of any act which may arise out of possession of the premises, by either party, the prevailing party shall be entitled to all costs incurred in connection with such action, including a reasonable attorney?s fee.
WAIVER. No failure of Lessor to enforce any term hereof shall be deemed to be a waiver.
NOTICES. Any notice which either party may or is required to give, shall be given by mailing the same, postage prepaid, to Lessee or Lessor at the addresses specified below, or at such other places as may be designated by the parties from time to time.
To Lessee: To Lessor:
A R R P
**** N. **** Ave. **** N. ***** Ave.
Chicago, IL ***** Chicago, IL *****
HEIRS, ASSIGNS, AND SUCCESSORS. This lease is binding upon and inures to the benefit of the heirs, assigns and successors in interest to the parties.
SUBORDINATION. This lease is and shall be subordinated to all existing and future liens and encumbrances against the property.
ENTIRE AGREEMENT. The foregoing constitutes the entire agreement between the parties and may by modified only by a writing signed by both parties.
OPTION TO RENEW. Tenant shall have one (1) five (5) year option to renew their lease provided they are not in default or delinquent in their rental payments. Notice shall be given between six and nine months prior in writing in order to exercise. All terms shall remain the same other than rent, which shall escalate at two and one-half percent (2.5%) annually. If notice is not given in the manner provided herein within the time specified, this option shall expire.
SIGNED THIS ________ DAY OF MARCH, 2005
LESSOR:
_______________________________
R P
LESSEE:
_______________________________
A R
GUARANTEE:
On this _______ day of March, 2005 in consideration of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the undersigned Guarantors hereby guarantee the payment of rent and performance by Lessee, Lessee?s heirs, executors, administrators, successors or assigns of all covenants and agreements of the above lease for one years rent during the entire lease term.
_____________________________
A R
in the future, utilize a broker, ideally a tenant representative, as they are a free service to tenants (the landlord pays their comission) and they ultimately save you both money and time
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