COMMERCIAL LEASE - LoopNet
Transcript of COMMERCIAL LEASE - LoopNet
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COMMERCIAL LEASE
THIS LEASE made this 1ST day of July 2019 by and between Blue-Sky Realty 1 LLC.
hereinafter referred as “LANDLORD” and Zeke’s Rescue Tax Service, hereinafter referred as
“TENANT”
WITTNESSETH,
That in consideration of the rents and covenants set forth and the payment of the sum of
$ 700.00 DOLLARS PER MONTH by the TENANT to the LANDLORD, receipt of which is
hereby acknowledged, the LANDLORD hereby leases to the TENANT, and the TENANT
hereby leases from the LANDLORD an agreed Commercial Space _ situated at 5508 Belair
Road 1st floor Front , Baltimore Maryland 21206 hereinafter referred to as “Premises” for a
term of Three Years beginning on July 1, 2019 and terminating June 30, 2022
Base: Rent Schedule
Date: Monthly Annual
07/01/2019 – June 30, 2020 $700.00 $8,400.00
07/01/2020- June 30, 2021 $735.00 $8,820.00 07/01/2021 -June 30, 2022 $770.00 $9,240.00
A11 of rent are due and payable on the first day of each and every month during the term
of this Lease. TENANT agrees to pay LANDLORD a late charge equal to ten percent (10%) of
the amount due for any monthly installment which is received by the LANDLORD Five (5) days
after due date. All rent and other charges due hereafter shall be paid without offset or deduction.
1. UTILITIES, TENANT will be responsible for all Gas & Electric, cable cleaning,
and trash removal of its Commercial space.
2. SECURITY DEPOSIT, simultaneously with the execution of this lease, TENANT
has deposited with LANDLORD the sum of $ 00 (the 'Security Deposit”), which shall be held
by LANDLORD as security for the faithful performance by TENANT of any and all of the
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TENANT will not do or suffer to be done, or keep or suffer to be done, or keep or suffer
to be kept, anything in, upon or about the premises which will contravene LANDLORD’S
policies insuring against loss or damage by fire or other hazards and glass breakage (including
but not limited to, public liability or which will prevent LANDLORD from procuring liability) or
which will prevent LANDLORD) from procuring such policies at minimum rates in companies
acceptable to LANDLORD. If anything done, omitted to be done or suffered to be done by
TENANT or suffered to be kept by TENANT, in or upon or about the premises shall cause the
rate of fire or other insurance on the premises to be increased beyond the minimum rate from
time to time applicable to the premises for use for the purposes permitted under this Lease or to
such other premises in the office building complex for the use or uses made thereof, TENANT
will pay the AMOUNT of such increase promptly upon LANDLORDS demand. TENANT will
maintain public liability insurance with single limit of at least One Million Dollars (1,000,000)
with a company acceptable to LANDLORD. The LANDLORD shall be named as an additional
insured in all such policies and a copy thereof shall be delivered to LANDLORD within thirty
(30) days after the date of this Lease.
LANDLORD will not do or suffer to be done, or keep or suffer to be done, or keep or
suffer to be kept, anything in, upon or about the premises which will contravene TENANT ’S
policies insuring against loss or damage by fire or other hazards (including but not limited to,
public liability or which will prevent TENANT from procuring liability) or which will prevent
TENANT from procuring such policies at minimum rates in companies acceptable to TENANT.
If anything done, omitted to be done or suffered to be done by LANDLORD or suffered to be
kept by LANDLORD, in or upon or about the premises shall cause the rate of fire or other
insurance on the premises to be increased beyond the minimum rate from time to time applicable
to the premises for use for the purposes permitted under this Lease or to such other premises in
the office building complex for the use or uses made thereof, LANDLORD will pay the
AMOUNT of such increase promptly upon TENANT’s demand.
If either party hereto is paid any proceeds under any policy of insurance naming such
party as an insured, on account of any loss or damage, then such party hereby releases the other
party hereto to and only to the extent of the amount of such proceeds, from any and all liability
for such loss or damage, notwithstanding that such 1oss damage or liability may arise out of the
negligent or intentionally tortuous act or omission of either party, its agents or employees;
provided; that such release shall be effective only as to a loss or damage occurring while the
appropriate policy of insurance of the releasing party provides that such release shall not impair
the effectiveness of such policy or the insured's ability to recover hereunder. Each party hereto
shall use reasonable efforts to have a clause to such effect included in its said policies and shall
promptly notify the other in writing if such clause cannot be included in any such policy.
9. INDEMNITY TENANT shall indemnify and save LANDLORD harmless from
and against any and all liabilities, claims, actions, damages, losses, costs, suits, penalties or
judgments including but not limited to litigation and court expenses and reasonable attorney’s
fees, arising from injury to person or property sustained by anyone in or on the property,
resulting from any acts or omissions of TENANT, or of TENANT’s agents, contractors, or
invitees. TENANT, at its sole expense, shall defend any and suits or actions (just or unjust)
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thereupon the term of this Lease shall expire by lapse of time upon the third day after such notice
is given, and TENANT shall vacate the demised premises and surrender the same to
LANDLORD. In such event the TENANT’s liability for rent shall cease as of the day following
the casualty.
12. CONDEMNATION If the whole or any part of the demised shall be acquired or
condemned by Eminent Domain for any public or quasi-public use or purpose, then and in that
event; the term of this Lease shall cease and terminate from the date of title vesting in such
proceeding and TENANT shall have no claim against LANDLORD for the value of any un-
expired term of said Lease.
13. ASSIGNMENT: SUBLETTING This Lease and Agreement and the
covenants and conditions herein shall inure to the benefit of and are binding upon LANDLORD,
its successors and assigns, and shall be binding upon TENANT. No assignment of this Lease or
subletting of the premises or any part thereof by the TENANT will be permitted at any time
without the prior written consent of the LANDLORD, which consent maybe withheld in
LANDLORD’s sole discretion.
14. FOR SALE OR FOR RENT SIGNS TENANT agrees that the LANDLORD shall
have the right to place upon the property, for and during the period of ninety (90) days prior to
the termination of this Lease, sale or rent signs or notices, in such parts thereof as it may
designate. The LANDLORD will also have the right during such ninety-day period (90) if
desired, to show the premises to prospective TENANT’s.
15. LANDLORD DEFAULT: TENANT REMEDIES, LANDLORD shall
not be deemed to be in default under this Lease unless (i) TENANT has given LANDLORD
written notice specifying the default claims, and (ii) LANDLORD has failed for thirty (30) days
after receipt of such notice to cure said default; if curable within thirty (30) days or to institute
and diligently pursue reasonable corrective or ameliorative efforts towards a default not curable
within thirty (30) days.
LANDLORD and TENANT hereby waive trial by jury in any action or proceeding or
counterclaim brought by either party hereto against the other party in any and every matter,
directly or indirectly arising out of or with respect to the Lease, including, without limitation, the
relationship between LANDLORD and TENANT.
TENANT’s sole remedy for any breach of this Lease by LANDLORD shall be in an
action for damages or specific performance in a court of competent jurisdiction in the locality in
which the building is located. The rent; additional rent or other charges collectible by
LANDLORD pursuant to this Lease shall not be subject to set-off, deduction or abatement for
any reason whatsoever.
16. TENANT DEFAULT Each of the following occurrences shall constitute a
TENANT Default.
A. If TENANT shall fail to make full payment to LANDLORD of any installment of
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rent or any payment of additional rent; and said rent or additional rent shall remain unpaid for
more than ten (10) days after it is due; or
B. If TENANT shall in any manner fail to perform or comply with any of the terms
or provisions contained in this Lease and such failure to perform or comply shall continue for a
period of fourteen (14) days after written notice thereof; or in the event of a failure to perform or
comply with any covenants, conditions, terms or provisions contained in this Lease, and said
failure to perform is susceptible of being cured but cannot with due diligence be cured within
such period of fourteen (14) days; or if TENANT shall fail to proceed with all due diligence
within such fourteen (14) day period to begin to cure the same or shall thereafter fail to prosecute
the curing of such default with all due diligence, or if the default is not cured within twenty(20)
days after the date of the written notice, regardless of what efforts may have been made to cure
the default; or
C. If the TENANT, (1) applies for or consents to the appointment of a receiver;
trustee or liquidator of the TENANT or of all or a substantial part of its assets, (2) files a
voluntary petition in bankruptcy or admits in writing its inability to pay its debts as they come
due, (3) makes an assignment for the benefit of its creditors, (4) files a petition or an answer
seeking a reorganization or any arrangement with creditors, or seeks to take advantage of any
insolvency law, (5) performs any other act of bankruptcy, insolvency proceeding or (6) files an
answer admitting the material allegations of a petition filed against the TENANT in any
bankruptcy, reorganization or insolvency proceeding; or
D. If (1) an order, judgment or decree is entered by any court of competent
jurisdiction adjudicating the TENANT bankrupt or insolvent; approving a petition seeking such a
reorganization, or appointing a receiver, trustee or liquidator of the TENANT or of all or a part
of its assets, or (2) there otherwise commences to the TENANT, or any of its assets, any
proceeding under any bankruptcy, reorganization arrangement, insolvency, readjustment,
receivership or similar law, and if such order, judgment, decree or proceeding continues un-
stayed for more than sixty (60) consecutive days after any stay thereof expires; or
17. LANDLORD REMEDIES
A. Upon the occurrence of an Event of Default, LANDLORD, without notice to
TENANT in any instance (except where expressly provided for below and in paragraph 15 E,
above), may do anyone or more of the following:
1. sell at public or private sale all or part of the goods, chattels, fixtures and other
personal property belonging to TENANT which are or may be put into improvements during the
lease term; whether exempt or not for sale under an attachment (it being agreed that said property
shall at all times be bound with a lien in favor of LANDLORD and shall be chargeable for all
rent for the fulfillment of the proceeds of such sale, first, to the payment costs and expenses of
conducting the sale or caring for or storing said property (including all attorneys' fees), second
toward the payment of any indebtedness, including (without limitation) indebtedness for rent,
which may be or may become due from TENANT to LANDLORD, and third, to pay TENANT,
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on demand in writing any surplus remaining after all indebtedness of TENANT to LANDLORD
has been fully paid;
2. perform, on behalf and at the expense of TENANT, any obligation of
TENANT under this Lease which TENANT has failed to perform and of which LANDLORD
shall have given TENANT notice (except in an emergency situation, in which event no notice is
required), the cost of which performance by LANDLORD, together with interest thereon at the
rate of 15% per annum from the date of such expenditure, shall be deemed additional rent and
shall be payable by TENANT to LANDLORD upon demand;
3. elect to terminate this Lease and the tenancy created hereby by giving
notice of such election to TENANT; and, at any time thereafter; without notice or demand and
without any liability whatsoever, re-.enter the property by force, summary proceedings or
otherwise, and remove TENANT and all other persons and property from the property, and store
such property in a public warehouse or elsewhere at the cost of and for the account of TENANT
without resort to legal process and without LANDLORD being deemed guilty trespass or
becoming liable for any loss or damage occasioned thereby;
4. accelerate all basic rent; Additional Rent and other sums of money due
hereunder; and
5. exercise any other legal and/or equitable right or remedy (including but
not limited to, obtaining injunctive relief) which it may have.
B. Any cost and expenses incurred by LANDLORD (including without limitation
court costs and reasonable attorneys' fees) in enforcing any of its rights or remedies under this
Lease shall be deemed to be additional rent and shall be repaid to LANDLORD by TENANT
upon demand to the extent permitted by law.
C. If this Lease is terminated by LANDLORD, TENANT nevertheless shall remain
liable for any rent and damages which may be due or sustained prior to such termination all
reasonable costs, fees and expenses including but not limited to, reasonable attorneys' fees, costs
and expenses incurred by LANDLORD in pursuit of its remedies hereunder, or in renting the
property to others from time to time and additional damages which shall be that amount equal to
all rent and additional rent due for the balance of the lease term; and all consequential damages
to LANDLORD for TENANT’s failure to surrender the property in accordance 'with the
provisions of this Lease (and this clause shall survive the termination of this Lease),
D. If this Lease is terminated by LANDLORD, LANDLORD may re-let the property
or any part thereof, alone or together with other premises, for such term (s) (which may be
greater or less than the period which otherwise would have constituted the balance of the lease
term) and on such terms and conditions (which may include concessions or free rent and
alterations of the improvements) as LANDLORD in its sole discretion agrees, but LANDLORD
shall not be liable for, nor shall TENANT’s obligation hereunder be diminished by reason of
any failure by LANDLORD to re-let the property or any failure by LANDLORD to collect any
rent due upon such re-letting.
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E. Nothing contained in this Lease shall limit or prejudice the right of LANDLORD
to prove for and obtain DAMAGES, in proceedings for the termination of this Lease by reason
of bankruptcy or insolvency; an amount equal to maximum allowed by any statute or rule of law
in effect at the time when, and governing the proceedings in which, the damages are to be
proved, whether or not the amount be greater, equal to, or less than the amount of the loss or
damages referred to above.
18. SUBORDINATION, ATTORNMENT TENANT acknowledges that its
rights under this Lease are and shall always be subordinate to the operation and effects of any
mortgage, deed of trust or other similar security instrument and of all covenants and restrictions
running with the land now or to be placed upon all or any portion of the premises.
19. COMPLIANCE WITH LAWS During this lease term, TENANT at its sole
expense, shall promptly observe and comply with all statutes, laws ordinances, requirements,
orders, directives, rules and regulations of federal, state and local governmental agencies and of
all other authorities (governmental, regulatory or other) affecting the property improvements or
appurtenances thereto or any parts thereof, whether the same are in force on the Commencement
Date or may in the future be passed, enacted, or directed, and TENANT shall pay all costs,
expenses, liabilities, losses, damages, fines, penalties, claims and demands, including attorneys'
fees, that may in any manner arise out of or be imposed because of the failure of TENANT to
comply with the covenants of this section 18. All licenses, fees and charges relating to the
property and/or TENANT’s use of the property shall be the sole responsibility of the TENANT.
TENANT shall make any and all improvements whether structural, unforeseen, unusual or
extraordinary, which are required by such governmental agencies or other authorities, provided
that TENANT obtain the prior written consent of LANDLORD before making such
improvements, which consent shall not be unreasonably withheld or unduly delayed.
20. VALIDITY OF COVENANT It is further expressly understood and agreed
by and between the parties herein that in the event any covenant or condition herein contained is
held so be invalid or void by any court of competent jurisdiction, the invalidity of any such
covenant or condition shall in no way affect any other covenant or condition herein contained.
21. ENTIRE AGREEMENT This Lease constitutes the entire agreement of the
parties, and neither shall be bound by or has relied upon any promise or representation, except as
is expressly set forth in this Lease.
22. COMPLETE UNDERSTANDING This Lease represents the complete
agreement between the parties hereto as to the subject matter hereof, and supersedes all prior
written or oral negotiations, representations, warranties, statements or agreements between the
parties hereto as to the same. No inducements, representations, understandings or agreements
have been made or relied upon in the making of this Lease. Neither party hereto has any right to
rely on any other prior or contemporaneous representation made by anyone concerning this
Lease which is not set forth herein.
23. WAIVER the LANDLORD shall not be deemed to have waived the exercise of