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HomeMy Public PortalAbout051-2008 - Sign lease agreement between Parks & Rose C. Suveges& A 17 -9~ , 6,t,, a- S -t--'Co8 Sign Lease Agreement LEASE made this eday of APP--IL. , 2008, by and between Rose C. Suveges, Trustee of the REVOCABLE LIVING TRUST OF ROSE C. SUVEGES, dated September 14h , 2004 referred to in this Lease as the "Lessor," and "Richmond Parks and Recreation", referred to in this Lease as the "Lessee." In consideration of the mutual promises contained in this Lease, the parties agree as follows: ARTICLE 1. LEASE Space Leased Section 1.01. The Lessor hereby leases to the Lessee and the Lessee hereby leases from the Lessor, "Section A-V, as identified in "Schedule A" attached hereto and incorporated herein by reference (including Drawing A-1) for outdoor advertising purposes, including all equipment, structure and other property described herein, and executed by the parties concurrently with and made a part of this Lease by reference; and Duration Section 1.02. The termAf this Lea e commences on the day of APe.;,- , 200Q, and this Lease ends on the U day of APa-i L- , 20001 . ARTICLE 2. RENT Amount Section 2.01. The rent for such leasehold interest as described in the attached Schedule shall be in the annual amount of Three Hundred Dollars ($ 300.00), payable at the time of execution of this Lease Agreement, and annually thereafter until terminated as provided herein. The Lessee shall pay such rent in advance, in the amounts and at the times set forth herein, at the office of the Lessor, or to such other person or at such other place as the Lessor may from time to time designate in writing to the Lessee. Default Section 2.02. If the Lessee fails to pay any rent or other amount herein provided within ten (10) calendar days after the same is due and payable, or if a proceeding in bankruptcy, receivership, or insolvency shall be instituted by or against the Lessee or its property, or if the Lessee shall enter into any arrangement or composition with Lessee's creditors, or if the Lessee fails to observe, keep, or perform any other provision of this Lease required to be observed, kept, or performed by the Page 1 of 8 Lessee, the Lessor shall, if such default shall continue for five (5) calendar days after written notice thereof to the Lessee, have the right to exercise any one or more of the following remedies: (a) To declare the entire amount of rent under this Lease immediately due and payable, without notice or demand to the Lessee. (b) To sue for and recover all rents and other payments then accrued or thereafter accruing. (c) To take possession of the leased space, without demand or notice, without any court order or other process of law. The Lessee hereby waives any and all damages occasioned by such taking of possession. Any such taking of possession shall not constitute a termination of this Lease unless the Lessor expressly so notifies the Lessee in writing. (d) To terminate this Lease. (e) To pursue any other remedy at law or in equity. Notwithstanding any such repossession, or any other action which the Lessor may take, the Lessee shall be and remain liable for the full performance of all obligations to be performed by the Lessee under this Lease. All such remedies are cumulative, and may be exercised concurrently or separately. Interest Section 2.03. If the Lessee fails to pay any part of the rent herein reserved or any other sum required to be paid to the Lessor by the Lessee within five (5) calendar days after the due date thereof, the Lessee shall pay to the Lessor interest on such delinquent payment from the expiration of the five (5) days until paid at the rate of Eight Percent (8%) per annum. Offset Section 2.04. The Lessee hereby waives any and all existing and future claims, defenses, and offsets against any rent or other payments due under this Lease. The Lessee agrees to pay the rent and other amounts under this Lease regardless of any claim, defense, or offset which maybe asserted on its behalf. ARTICLE 3. USE Manner of Use Section 3.01. The Property is leased for the sole purpose of operation and maintenance of outdoor advertising display(s). LESSEE shall herewith, subject to the conditions contained herein, possess the non-exclusive, shared right to display advertising copy on the Premises unless otherwise Page 2 of 8 specified in this lease agreement. The LESSEE shall have the right and duty to design and maintain the section of the said advertising sign identified in Schedule A, attached and incorporated herein, and located on the demised premises. All equipment and/or materials placed upon the said Premises by the LESSEE shall always remain the property of, and maybe removed by the LESSEE at any time prior to or within a reasonable time after the expiration of the term hereof or any extension hereof, provided LESSEE shall first give LESSOR no less than sixty (60) business day's prior notice of LESSEE's intention to service, maintain, erect, replace or remove any said sign equipment or other property placed upon the Premises by LESSEE. The Lessee shall use the leased space in a careful and proper manner and shall comply with all laws, ordinances, and regulations relating to such space. ARTICLE 4. INSPECTION Lessee's Inspection Section 4.01. The Lessee shall inspect the leased space before making any changes or use of the said leased space . Unless the Lessee gives written notice to the Lessor, prior to making any change or use of the leased space, specifying any defect in or other proper objection to the leased space , the Lessee agrees that it shall be conclusively presumed, as between the Lessor and the Lessee, that the Lessee has fully inspected and acknowledged that the leased space is in good condition and repair, and that the Lessee is satisfied with and has accepted the leased space in such good condition and repair. Lessor's Inspection Section 4.02. The Lessor shall, at any and all times, have the right to enter into and on the premises where the leased space maybe located for the purpose of inspecting the same or observing its use. The Lessee shall give the Lessor immediate notice of any attachment or other judicial process affecting any item of leased space and shall, whenever requested by the Lessor, advise the Lessor of the exact location of the leased space . ARTICLE 5. ALTERATIONS AND REPAIRS Alterations Section 5.01. Without the prior written consent of the Lessor, the Lessee shall not make any alterations, additions, or improvements to the leased space. Repairs Section 5.02. The Lessor, at its own cost and expense, shall keep the leased structure in good repair, condition, and working order and shall furnish any and all parts, mechanisms, and devices required to keep the leased structure in good mechanical and working order. Page 3 of 8 The Lessee, at its own cost and expense, shall keep the leased space in good repair, condition, and working order and shall furnish any and all parts, mechanisms, and devices required to keep the leased space in good mechanical and working order. Lessee shall replace the signboard every five (5) calendar years or sooner. ARTICLE 6. LOSS AND DAMAGE Risk of Loss and Damage Section 6.01. The Lessee hereby assumes and shall bear the entire risk of loss and damage to the leased space arising from the Lessee's negligence. No such loss or damage to the leased space or any part thereof shall impair any obligation of the Lessee under this Lease, which shall continue in full force and effect. ARTICLE 7. SURRENDER Section 7.01. On the expiration or earlier termination of this Lease, the Lessee shall return the same to the Lessor in good repair, condition, and working order (ordinary wear and tear resulting from proper use thereof alone excepted). ARTICLE 8. WARRANTIES Section 8.01. THE LESSOR MAKES NO WARRANTIES, EITHER EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER, INCLUDING, WITHOUT LIMITATION, THE CONDITION OF THE LEASED SPACE, ITS MERCHANTABILITY, OR ITS FITNESS FOR ANY PARTICULAR PURPOSE. ARTICLE 9. PERSONAL PROPERTY Section 9.01. The leased space is, and shall at all times be and remain, personal property, notwithstanding that the leased space or any part thereof may now be, or hereafter become, in any manner affixed or attached to, or embedded in, or permanently resting on, real property or any building thereon, or attached in any manner to that which is permanent as by means of cement, plaster, nails, bolts, screws, or otherwise. ARTICLE 10.OWNERSHIP AND ASSIGNMENT Ownership Section 10.01. The leased space is, and shall at all times be and remain, the sole and exclusive property of the Lessor. The Lessee shall have no right, title, or interest therein, except as expressly set forth in this Lease. Page 4 of 8 Assignment Section 10.02. Without the prior written consent of the Lessor, the Lessee shall not: (a) Assign, transfer, pledge, or hypothecate this Lease, the leased space or any part of it, or any interest in it; or (b) Sublet or lend the leased space or any part of it, or permit the leased space or any part of it to be used by anyone other than the Lessee. The Lessor's consent to any of these prohibited acts applies only in the given instance, and is not a consent to any subsequent like act by the Lessee or any other person. Lessor's Assignment Section 10.03. All rights of the Lessor under this Lease may be assigned, pledged, mortgaged, transferred, or otherwise disposed of, either in whole or in part, without notice to the Lessee. If the Lessor assigns this Lease or the rentals due or to become due under this Lease or any other interest herein, whether as security for any of its indebtedness or otherwise, no breach or default by the Lessor under this Lease or pursuant to any other agreement between the Lessor or Lessee, should there be one, shall excuse performance by the Lessee of any provision under this Lease. No such assignee shall be obligated to perform any duty, covenant, or condition required to be performed by the Lessor under the terms of this Lease. ARTICLE 11.GENERAL PROVISIONS Lessor's Expenses Section 11.01. The Lessee shall pay the Lessor all costs and expenses, including attorney's fees, incurred by the Lessor in exercising any of its rights or remedies under this Lease or enforcing any of the terms, conditions, or provisions hereof. Concurrent Remedies Section 11.02. No right or remedy herein conferred on or reserved to the Lessor is exclusive of any other right or remedy herein or by law or equity provided or permitted; but each shall be cumulative of every other right or remedy given under this Lease or now or hereafter existing at law or in equity or by statute or otherwise, and may be enforced concurrently therewith or from time to time. Non -waiver Section 11.03. No covenant or condition of this Lease may be waived except by the written consent of the Lessor. Forbearance or indulgence by the Lessor in any regard whatsoever shall not constitute a waiver of the covenant or condition to be performed by the Lessee to which the same may apply, and, until complete performance by the Lessee of any covenant or condition, the Lessor Page 5 of 8 shall be entitled to invoke any remedy available to the Lessor under this Lease or by law or in equity despite such forbearance or indulgence. Entire Agreement Section 11.04. This Lease constitutes the entire agreement between the Lessor and the Lessee and supersedes any prior understandings or written or oral agreements between the parties respecting the within subject matter. It shall not be amended, altered, or changed except by a written agreement signed by the parties to this Lease. Notices Section 11.05. Service of all notices under this Lease shall be sufficient when sent by certified or registered mail to the party involved at its respective address hereinabove set forth, or at such address as such party may provide in writing from time to time. Any such notice mailed to such address shall be effective when deposited in the United States mail, duly addressed, and with postage prepaid. Gender; Number Section 11.06. Whenever the context of this Lease requires, the masculine gender includes the feminine or neuter, and the singular number includes the plural. Whenever the word "Lessor" is used herein, it shall include all assignees of the Lessor. If there is more than one Lessee named in this Lease, the liability of each shall be joint and several. Time Section 11.07. Time is of the essence in this Lease and in each and all of its provisions. Law to Apply Section 11.08. This Lease shall be construed under and in accordance with the laws of the State of Indiana, and all obligations of the parties created under this Lease are performable in Wayne County, Indiana. Parties Bound Section 11.09. This Lease shall be binding on and inure to the benefit of the parties to this Lease and their respective heirs, executors, administrators, legal representatives, successors, and assigns where permitted by this Lease. Legal Construction Section 11.10. If any one or more of the provisions contained in this Lease shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision hereof, and this Lease shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein. Page 6 of 8 IN WITNESS WHEREOF, the parties to this Lease have executed this Lease in Richmond, Indiana on the day and year first above written. LESSOR REVOCABLE LIVING TRUST OF ROSE C. SUVEGES, dated September 14lh , 2004 By L � "�' 4 ROSE C. UVEGES, Trustee LESSEE Richmond Parks and Recreation Page 7 of 8 SCHEDULE A Leased Space A. "Section A-4" (as identified in "Drawing A", attached hereto and incorporated herein) of the sign structure, located Corner of US 27 North and Highland Road, Richmond, Wayne County Indiana, Term B. Unless sooner terminated as set forth in the Lease, the term of this Lease respecting each item of leased space listed on this Schedule shall consist of one calendar year, and as such, the initial lease shall expire on j ea;j_ R(, , 2009. Rent C. As rent for such leased space, the Lessee shall pay the Lessor the sum of Three Hundred Dollars ($300.00) per calendar year. Except as otherwise provided in the Lease or in this Schedule, such rent shall be payable in total at the time of execution of this agreement and on the first day of each new term, if renewed by the parties. Renewal Option D. In the event the Lessee shall desire not to renew the lease term for an additional year lease, Lessee shall provide Lessor written notice of such non -renewal no later than sixty (60) calendar days prior to the expiration of the current lease. Such failure to provide such timely written notice shall automatically renew the said lease term. In the event the Lessee shall desire to renew the lease term for an additional year lease, or should Lessee fail to provide timely notice as identified immediately above, the parties shall negotiate the terms of such extension, including but not limited to the rent due and owing for such new lease term. Approved and agreed on 4fW-;L_)_7 , 2008, as a Schedule to that certain Lease dated Qpa�t.,,l 7 , 2008, by and between the parties, and made a part of this Lease. LESSOR REVOCABLE LIVING TRUST OF ROSE C. SUVEGES, dated September 14t' , 2004 By Li ROSE C. SUVEGES, Trustee LESSEE Richmond Parks and Recreation S �L�� �L..t�a / i Presidelit This document prepared by Thomas D. Seal, Attorney # 13389-98, 245 South 4111 Street, Richmond, Indiana 47374 Telephone 765 962-5792 Page 8 of 8 IIVUTANA VK I MUYAtUlUb DIAGNOSTIC IMAGING • TOWER SPECIALTY SURGERY WHITEWATER VALLEY REHAB "A" _ 1 OPEN / I•FUN •FOOD *SPORTS •SPIRITS tl T 1l 6 Highland Road Sign: 18" x 96" Tower Medical Park Sign: 30" x 96" Three bottom Signs 4'high x 32"wide 1 Blank Panel w/ 2- 2x4 signs Total: 84 Sq Ft. 12' Tall Monument Sign DrawING "A" GHighland 9Lake Golf Course Driving Range It T 11 A