Basic terms
- Tenant add
- Premises add
- Premises Improvements add
- Term add
- Base Rent add
- Reimbursements add
- Tenant Special Rights add
- Credit Support add
- Miscellaneous add
by and between
insert_comment
NPP PARTNERS LLC, Landlord
insert_comment
and
insert_comment
for premises located at the Shopping Center
insert_comment known as
insert_comment
New Pacific Place
insert_comment Hartford, Connecticut
insert_comment
LEASE AGREEMENT
insert_comment
TABLE OF CONTENTS
insert_comment
LEASE AGREEMENT
insert_comment THIS LEASE AGREEMENT (this “Lease”) is made and entered into to be effective as of the ____ day of _________________, 2018(the “Effective Date”) by and between NPP PARTNERS LLC, aDelawarelimited liability company , as “Landlord”, and
WITNESSETH:
insert_comment
IN CONSIDERATION of the mutual covenants hereinafter contained, and each act performed hereunder by either of the parties, Landlord and Tenant agree as follows:
insert_comment
Lease Years | Annual Minimum Rent | Monthly Minimum Rent Installment |
1 - 5 |
insert_comment Tenant’s proportionate sharedetermined by dividing the Gross Leasable Area of the Demised Premises by the then-occupied Gross Leasable Area of the Shopping Centerand then multiplying the resulting quotient by total Common Area Maintenance Charges (as defined in Section 10.04 below), including a 15% administrative fee (such fee, the “CAM Administration Fee”) .
insert_comment
Initial Estimate:
Tenant’s proportionate share determined by dividing the Gross Leasable Area of the Demised Premises by
Initial Estimate:
Commercial General Liability - $1M per occurrence, $2M aggregate;
insert_comment Fire Legal Liability - $50,000;
insert_comment Umbrella Liability - $2M per occurrence and in the aggregate (subject to Section 16.02);
insert_comment “Special Perils” (formerly known as “All Risk”) - full replacement of property with plate glass endorsement;
insert_comment Business Interruption - 1 yr.’s loss of gross profits for Tenant;
insert_comment Workers' Compensation - as required by Laws (as defined in Section 2.01 below); and
insert_comment Employer’s Liability - $500,000.
insert_comment
or, via EFT, as follows (as the same may be changed by Landlord on not less than ten (10) business days notice to Tenant):
insert_comment
Attn:
Landlord: insert_comment | NPP Partners LLC insert_comment |
| c/o ShopCo Properties, LLC insert_comment |
| 31 St. James Avenue insert_comment |
| Boston, MA 02116 insert_comment |
| Attn: Sr. Vice President Leasing insert_comment |
Tenant: insert_comment | |
| |
| |
| Attn: |
Guarantor :
insert_comment
| |
| |
| |
(i)
(ii) Minimum Rent during Renewal Term :
insert_comment
Lease Years | Annual Rent | Minimum Monthly Installment |
Exhibit “ A”– Site Plan of the Shopping Center
insert_comment Exhibit “ B”– Landlord's Work
insert_comment Exhibit “ C”– Landlord's Sign Criteria
insert_comment Exhibit “D”– Tenant’s Ownership Structure
insert_comment
In the event that Landlord shall fail to approve, approve with comments or disapprove any of Tenant’s plans and specifications delivered to Landlord in compliance with the terms of this Article IV within
“IF LANDLORD FAILS TO RESPOND TO TENANT’S REQUEST FOR LANDLORD’S CONSENT TO TENANT’S PLANS AND SPECIFICATIONS SUBMITTED TO LANDLORD ON [______________, 20__] (“TENANT’S SUBMITTED PLANS”) WITHIN AL FOR SUCH SPECIFIC “TENANT’S SUBMITTED PLANS”, SUBJECT TO THE OTHER TERMS AND CONDITIONS OF THIS LEASE.”
insert_comment
If Landlord fails to respond to Tenant within such
(b) Tenant shall, at its expense, secure and maintain an HVAC maintenance contract with a reputable contractor to provide for routine, periodic servicing of the HVAC unit(s) serving the Demised Premises. Such periodic servicing shall be conducted at least twice a year, once in the spring and once in the fall, and at other times as necessary. A copy of such contract shall be provided by Tenant to Landlord within thirty (30) days after the Commencement Date, and any renewal contract or new contract to take the place of any such contract shall be delivered to Landlord at least thirty (30) days prior to the expiration of the then existing contract. Additionally, after each such servicing, but in no event later than the June 30thafter each spring servicing and the December 31st after each fall servicing, Tenant shall provide Landlord a copy of the service report evidencing such servicing. Landlord reserves the right, at its option, to approve Tenant’s selection of HVAC maintenance contractor. It is understood and agreed that Landlord’s approval of any such maintenance contractor shall in no way be deemed a guaranty by Landlord of the quality or reliability of such contractor or of its work. In the event Tenant shall fail to have such periodic servicing performed and provide Landlord proof thereof in a timely manner, Landlord,after ten (10) days notice to Tenant, shall have the right to perform such periodic servicing; the costs of such work shall be chargeable to Tenant, together with a sum equal to fifteen percent (15%) of said costs for Landlord's overhead and administrative costs, and shall be due within ten (10) days after billing. For all purposes under this Lease, the HVAC unit(s) (and all components thereof) serving the Demised Premises shall be deemed leasehold improvements.
insert_comment
(c) Provided that Tenant maintains the HVAC maintenance contract as required under Sub-section 15.02(b) above, otherwise complies with all of Tenant’s obligations with respect to the HVAC unit(s) exclusively serving the Demised Premises on the Effective Date (the “Existing HVAC Unit(s)”), and does not cause (or permit to be caused by, through or on behalf of Tenant) any damage, malfunction and/or failure to or of the Existing HVAC Unit(s), Landlord shall, but solely if necessary due to a failure of any Existing HVAC Unit(s) occurring prior to the date that is the one (1) year anniversary of the Commencement Date, replace the major components (i.e., the compressor, the condenser and the heat exchanger only) of such Existing HVAC Unit(s). For the avoidance of doubt, (i) Landlord shall have no responsibility with respect to the Existing HVAC Unit(s) other than as expressly set forth herein, and (ii) Tenant shall remain obligated at all times to comply with Tenant’s HVAC-related obligations set forth in this Section 15.02.
insert_comment
(d) Tenant shall, at its expense, secure and maintain a pest control contract with a reputable contractor to provide for routine, periodic servicing of the Demised Premises. Such periodic servicing shall be conducted at least four (4) times per year, and at all other times as necessary. A copy of such contract shall be provided by Tenant to Landlord within thirty (30) days after the Commencement Date, and any renewal contract or new contract to take the place of any such contract shall be delivered to Landlord at least thirty (30) days prior to the expiration of the then existing contract. Additionally, within thirty (30) days after each such servicing, Tenant shall provide Landlord a copy of the service report evidencing such servicing. Landlord reserves the right, at its option, to approve Tenant’s selection of pest control contractor. It is understood and agreed that Landlord’s approval of any such pest control contractor shall in no way be deemed a guaranty by Landlord of the quality or reliability of such contractor or of its work. In the event Tenant shall fail to have any required servicing performed and provide Landlord proof thereof in a timely manner, Landlord, after ten (10) days notice to Tenant, shall have the right to perform such servicing; the costs of such work shall be chargeable to Tenant, together with a sum equal to fifteen percent (15%) of said costs for Landlord's overhead and administrative costs, and shall be due within ten (10) days after billing.
insert_comment
insert_comment
Additionally, Tenant shall not:
Finally, Tenant shall promptly deliver to Landlord (but in any event within ten (10) days of Landlord’s request) any certification or other evidence requested from time to time by Landlord, in its reasonable discretion, confirming Tenant’s compliance with the foregoing.
insert_comment
(b) Within forty five (45) days following (i) completion of fifty percent (50%) of Tenant’s Initial Alterations in accordance with (A) the terms of Article IV and (B) the plans and specifications therefor approved by Landlord; (ii) certification from Tenant’s general contract and architect on AIA form 702/703 (or similar form reasonably acceptable to Landlord) that fifty percent (50%) of Tenant’s Initial Alterations is complete; (iii) submission to Landlord of a detailed breakdown of Tenant's “hard” construction costs for not less than fifty percent (50%) of Tenant’s Initial Alterations, together with receipted invoices showing payment thereof in an amount not less than the First Tenant Allowance Installment (as defined below); and (iv) delivery to Landlord of such original, lien waivers, releases and other documentation as Landlord may reasonably require (and acknowledged by a notary public, if required by Landlord) in order to conclusively determine that all mechanic's lien claims have been released with respect to an amount not less than the First Tenant Allowance Installment, Landlord shall pay to Tenant fifty percent (50%) of the “hard” construction costs incurred by Tenant in performing leasehold improvements as part of Tenant's Initial Alterations (the “First Tenant Allowance Installment”).
insert_comment
(c) Within forty five (45) days following (i) completion of Tenant’s Initial Alterations in accordance with (A) the terms of Article IV and (B) the plans and specifications therefor approved by Landlord; (ii) issuance of a final unconditional certificate of occupancy for Tenant’s Initial Alterations; (iii) submission to Landlord of a detailed breakdown of Tenant's final and total “hard” construction costs for Tenant’s Initial Alterations, together with receipted invoices showing payment thereof; (iv) delivery to Landlord of such original, lien waivers, releases and other documentation as Landlord may reasonably require (and acknowledged by a notary public, if required by Landlord) in order to conclusively determine that all mechanic's lien claims have been released with respect to Tenant's Initial Alterations; (v) Tenant having opened for business to the general public in the Demised Premises, and (vi) Tenant’s payment of the first month of Minimum Rent,Tenant’s proportionate share of Common Area Maintenance Charges and Tenant’s proportionate share of Real Estate Taxes after the Rent Commencement Date Landlord shall pay to Tenant, an amount up to the remaining balance of the Tenant Allowance (the “Second Tenant Allowance Installment”).
insert_comment
(d) In the event there are claims unpaid, work unfinished, or unsatisfied mechanic's liens with respect to Tenant's Initial Alterations that have not been bonded off or otherwise secured, Landlord shall have no obligation to pay the Tenant Allowance or any portion thereof until such time as all such claims are paid, work is finished and liens are settled. Alternatively, at Landlord’s sole discretion, Landlord shall have the right to retain from the amount due Tenant a sum sufficient to fully pay for all such claims, unfinished work, or liens and to thereafter pay the same directly to the party(s) entitled thereto. It is understood and agreed that the Tenant Allowance shall only be applied to “hard” construction costs and shall not be applied to “soft” construction costs. For purposes of this Section 26.34, “hard” construction costs shall mean only those costs incurred and paid by Tenant for the actual, physical construction of improvements and installation of building systems in the Demised Premises in connection with Tenant's Initial Alterations (i.e., the cost of construction materials and physical labor) and shall not include any so-called “soft” costs (including, but not limited to, permit and filing fees and costs, architectural fees, engineering fees and legal fees) or any costs for Tenant's trade fixtures, furnishings, equipment, inventory, or other personal property. Notwithstanding anything herein to the contrary, if all of the requirements set forth herein for the payment of the Tenant Allowance are not satisfied by the date that is two hundred seventy (270) days after the Commencement Date, then this Section 26.34 shall be deemed void and Landlord shall have no obligation to pay the Tenant Allowance to Tenant .
insert_comment
(b) If the Restrictive Covenant, or any enforcement of same, violates, or is alleged or claimed to violate, any federal, state or local anti-trust law or other law, governmental rule or regulation, then (i) Tenant shall indemnify, defend and hold Landlord harmless from and against any and all claims, losses, costs, damages and expenses (including, but not limited to, reasonable attorney's fees) asserted against or suffered by Landlord resulting from any liability or obligation of Landlord, arising out of, or in connection with, such violation, or alleged or claimed violation, and (ii) the Restrictive Covenant shall immediately be deemed void and of no further effect and this Lease shall otherwise continue in full force and effect.
insert_comment
[Signature and acknowledgment pages follow.]
insert_comment
IN WITNESS WHEREOF, the parties hereto have executed this Lease as of the day and year first written above.
Signed in the Presence of: insert_comment
Witness: ___________________________ insert_comment Printed Name: _______________________ insert_comment |
TENANT insert_comment
By:_________________________________ insert_comment Name: insert_comment Title: insert_comment |
TENANT ACKNOWLEDGMENT
State of Connecticut
insert_comment
County of _______________ ss:_______________ (Town/City)
insert_comment
On this the ___ day of __________,
In witness whereof I hereunto set my hand.
insert_comment
____________________
insert_comment Signature of Notary Public
insert_comment Date Commission Expires: ___________
insert_comment
LANDLORD ACKNOWLEDGMENT
insert_comment
State of Connecticut
insert_comment
County of _______________ ss:_______________ (Town/City)
insert_comment
On this the ___ day of __________,
In witness whereof I hereunto set my hand.
insert_comment
____________________
insert_comment Signature of Notary Public
insert_comment Date Commission Expires: ___________
insert_comment
EXHIBIT A
SITE PLAN
insert_comment
EXHIBIT B
insert_comment
LANDLORD’S WORK
insert_comment
Landlord shall, at its expense, incorporate the following construction in the Demised Premises:
insert_comment
1. DEMISING WALLS:
insert_comment Metal studs with 5/8" fire code sheetrock from concrete slabs to underside of roof deck, taped and sanded ready to receive Tenant's finish.
insert_comment
2. STOREFRONT/DOORS:
insert_comment Landlord shall install standard glass windows and/or aluminum frame storefront. Landlord shall be allowed to utilize any existing storefront windows. Landlord shall provide one standard aluminum and glass entrance door. Landlord shall install one standard metal rear entrance door to the Demised Premises or deliver an existing door in good working order.
insert_comment
3. FLOOR:
insert_comment Concrete slab, troweled smooth.
insert_comment
4. CEILING:
insert_comment Acoustic tile set in 2' x 4' exposed grid suspension system in the sales area. Ceiling height shall be 11 feet above floor level except in toilet room where it will be 8 feet above floor level.
insert_comment
5. ELECTRIC:
insert_comment Service characteristics of 200 amp service or service indicated on Landlord's plans at 120/208 volts three phase, 4 wire, including meter socket, feeder conduit to panel, all feeders, disconnects and panels. One duplex convenience outlet will be installed every twenty feet along the demising wall.
insert_comment
6. HEATING, VENTILATING AND AIR CONDITIONING:
insert_comment Combination heating and air conditioning unit per Landlord's design with supply air duct work and diffusers. The HVAC cooling capacity will be designed for a lighting load of 2 watts per square foot, a miscellaneous electrical load of 1/2 watt per square foot and a people load of one person per 200 square feet. Based on this design criteria, the HVAC system will maintain an interior temperature of 78°F when the outside temperature is 95°F and will maintain an interior temperature of 65°F when the outside temperature is -5°F.
insert_comment
7. PLUMBING:
insert_comment Supply one handicapped accessible restroom that meets or exceeds all Laws. The restroom shall include, but not be limited to, the following components:
insert_comment a. Sink (ADA approved)
insert_comment b. Lavatory (ADA approved)
insert_comment c. Exhaust fan and switch
insert_comment d. ceiling
insert_comment e. Grab bars (ADA approved)
insert_comment f. Walls taped and finished ready for tenant's finishes
insert_comment g. One (1) 2' x 4' fluorescent light fixture and switch
insert_comment h. Floor slab smooth and ready for tenant's finish
insert_comment i. 3'-0" x 7'-0" Hollow metal door frame
insert_comment j. 3'-0" x 7'-0" Paint grade flush wood door
insert_comment k. Door closer/mounted at interior of toilet room door only w/5psi force max
insert_comment l. Privacy lock/"Schlage S40s Rhodes" W/626 fin
insert_comment m. Hinges/ 4" commercial grade w/ chrome fin
insert_comment n. One (1) 18" x 24" mirror
insert_comment o. Toilet paper roll holder
insert_comment
8. CEILING LIGHT:
insert_comment General illumination consisting of 2' x 4', 4 tube fluorescent fixtures with cool white lamps based on approximately one fixture per 100 square feet of Gross Leasable Area, spaced and located per Landlord's drawing, including combination light fixture/exhaust fan in toilet room. Exit signs and emergency lights will be installed as required by local code requirements.
insert_comment
9. UTILITIES:
insert_comment Tenant shall arrange directly with the utility companies for commencement of services.
insert_comment
10. SPRINKLER SYSTEM:
insert_comment Landlord shall furnish and install a sprinkler system in accordance with Landlord's plans. Sprinkler heads and required coverage shall be based on Landlord's typical store layout and any modifications required to the system as a result of Tenant's Initial Alterations shall be performed by Landlord's contractor or other contractor approved by Landlord and at Tenant's sole cost and expense.
insert_comment
EXHIBIT C
insert_comment
LANDLORD’S EXTERNAL SIGNAGE CRITERIA
insert_comment
TENANT’S OWNERSHIP STRUCTURE
insert_comment
SHAREHOLDER/MEMBER/PARTNER insert_comment NAME & ADDRESS insert_comment | MEMBERSHIP/SHAREHOLDER/ insert_comment PARTNERSHIP INTEREST (%) insert_comment |
|
|
|
|
|
|
|
|
GUARANTY OF LEASE
insert_comment
THIS GUARANTY OF LEASE (this “Guaranty”) is made as of the date of the Lease (as defined below) by
WITNESSETH:
insert_comment
WHEREAS,
WHEREAS, Landlord is unwilling to enter into the Lease without further collateral security in the form of a personal guaranty by Guarantors of Tenant's obligations under the Lease; and
insert_comment
WHEREAS, Guarantors each acknowledge and agree that Landlord’s agreement to enter into the Lease is of real and substantial personal benefit to Guarantor s, individually and jointly; and
insert_comment
WHEREAS, to induce Landlord to execute the Lease, Guarantorsherein desires to execute this Guaranty.
insert_comment
NOW, THEREFORE, in consideration of the execution and delivery of the Lease by Landlord, the sum of One Dollar ($1.00) and other good and valuable consideration, the receipt of which is hereby acknowledged, Guarantors agree s as follows:
insert_comment
1. Guarantors, jointly and severally, absolutely and unconditionally, guarantees to Landlord and hereby become surety for (a) the punctual payment of all payments due from Tenant in connection with the Lease (including, but not necessarily limited to, Minimum Rent and Additional Rent) and (b) the performance in accordance with the Lease of all of the conditions and covenants of the Lease to be performed by Tenant, together with all legal and other expenses of enforcement and/or collection (including reasonable attorneys' fees and expenses in accordance with and subject to Section 21.07 of the Lease) . It is understood and agreed that the foregoing obligations of Guarantors shall also apply to all payments due from Tenant, and all conditions and covenants to be performed by Tenant, following the expiration or termination of the Lease (including, but not necessarily limited to, any period during which Tenant holds over in possession of the Demised Premises). Guarantors hereby expressly and unconditionally waive demand, notice of presentment and non-payment, protest and notice of protest, and consent that the time for payments by Tenant may be extended by Landlord without notice to or further consent from Guarantors. Guarantor s each individually do further agree to pay any amount due under the Lease immediately upon the expiration of five (5) days after written notice of the default of Tenant as to any one or more of the terms and conditions of the Lease, it being understood that all payments due under the Lease may be accelerated and shall become due and payable upon default of any one or more of the terms and conditions of the Lease as provided therein. Guarantor s each individually shall also be responsible to Landlord for all costs and expenses (including reasonable legal fees and expenses for independent attorneys and legal staff as well as Landlord’s in-house attorneys and legal staff) incurred by Landlord in enforcing this Guaranty. For purposes of the foregoing sentence, the services of Landlord’s in-house attorneys and other legal staff shall be valued at rates for independent counsel and legal staff prevailing in lower Fairfield County, Connecticut.
insert_comment
2. Any waiver by Landlord of default on the part of Tenant, or its successors or assigns, or any failure on the part of Landlord to enforce its rights against Tenant, or its successors or assigns, shall not affect the absolute and unconditional liability of Guarantors hereunder, and any extensions of time granted by Landlord to Tenant, or its successors or assigns, shall not release Guarantors from the obligations hereunder. Any waiver by Landlord of any default shall be limited to that particular instance and shall not operate or be deemed to waive any other then-existing or future default. If any part of this Guaranty shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect or impair any other term.
insert_comment
3. Guarantors hereby further agree that in addition to all of the other provisions in this Guaranty, but not by way of limitation thereof, Landlord may do any of the following with or without notice to Guarantors without affecting the liability of Guarantors in any way: exchange, increase or decrease, or surrender all or any part of the security held by Landlord for the said obligation, or Landlord may substitute new security for all or any portion thereof, whether or not the new security shall be equal in value with the security substituted.
insert_comment
4. Guarantors expressly waive any right to require Landlord to: (a) proceed against Tenant; (b) proceed against or exhaust any security held from Tenant, it being expressly understood that this is a guaranty of payment not of collection; (c) have Tenant joined with Guarantors in any suit arising out of this Guaranty and/or under the Lease; (d) proceed against other guarantors, if any, it being expressly understood and agreed that the obligations of Guarantors hereunder shall not be reduced or limited by reason of any similar or dissimilar guarantee executed in favor of Landlord by any other person and this Guaranty shall be enforceable against Guarantors without regard to such other guarantee; or (e) pursue any other remedy whatsoever available to Landlord. Guarantors waive any defense arising by reason of any disability, lack of corporate authority or power, novation, or other defense of Tenant or any other guarantor of any of the obligations or liabilities under the Lease, and shall remain liable hereon regardless of whether Tenant or any other guarantor be found not liable thereon for any reason. Unless and until all obligations of Tenant under the Lease are fully performed and the indebtedness under the Lease is paid in full, Guarantors irrevocably waive, and agree not to assert or claim, any direct or indirect rights of subrogation, reimbursement, indemnification, contribution or similar rights against Tenant or any other person liable for performance or payment under the Lease (whether arising by contract, by law, in equity or otherwise) as a consequence of this Guaranty.
insert_comment
5. It is further agreed that should (a) Landlord and Tenant recast, amend, modify, extend, renew, terminate and/or reinstate the Lease, or (b) Landlord or Tenant assign all or any portion of the Lease, any such action shall not affect the liabi lity of Guarantors in any way, and no reaffirmation or other confirmation of Guarantors’ continuing liability under this Guaranty shall be required.
insert_comment
6. Guarantors further unconditionally guarantee to the same effect as above stated, the proper performance of all agreements and undertakings given to Landlord in the above mentioned transaction by way of collateral security.
insert_comment
7. Guarantors acknowledge and confirm to Landlord that Guarantors have not been induced to execute and deliver this Guaranty as a result of, and is not relying upon, any representations, warranties, conditions or agreements, whether express or implied or written or oral, by Landlord, Tenant or any other person.
insert_comment
8. Without limiting the generality of the foregoing or any other provision of this Guaranty, Guarantors hereby agree to indemnify and save Landlord harmless from any loss, claim, demand or charge whatsoever, arising out of or resulting from the default of Tenant under the Lease.
insert_comment
insert_comment 9. Guarantors shall be jointly and severally liable for the obligations hereunder, and all provisions hereof shall apply to such person. Landlord shall be deemed to have reserved its rights against each Guarantor in connection with any settlement, compromise or release of any other person (including any other guarantor) liable for performance or payment under the Lease.
insert_comment
10. Guarantors agree that Landlord may from time to time, and at any time prior to the satisfaction of all of Tenant’s obligations under the Lease, obtain credit/consumer reports on Guarantors.
insert_comment
11. This Guaranty shall continue in full force and effect notwithstanding any insolvency or bankruptcy of Tenant.
insert_comment
12. This Guaranty is and shall be in every particular available to the successors and assigns of Landlord and is and shall always be fully binding upon the heirs, legal representatives, successors and assigns of Guarantors. This Guaranty shall be construed in accordance with and governed by the laws of the State of Connecticut. Guarantors hereby consent to service of process, and to be sued, in the state or federal courts located in the State of Connecticut , and consent to the jurisdiction of the courts of the State of Connecticut and the United States District Court for the District in which the Demised Premises is located for the purpose of any action, suit or proceeding arising out of any of the obligations of Guarantors hereunder or with respect to the transactions contemplated hereby, and expressly waive any and all objections that Guarantors may have as to venue in any such courts. Guarantors also agree that service of process in any such action, suit or proceeding may be made on Guarantors by mailing a copy thereof to Guarantors by certified or registered mail at Guarantors’ address(es) then appearing in Landlord's records. Guarantors waive the right of trial by jury in any such action, suit or proceeding commenced by Landlord and agree not to interpose any counterclaims or setoff of any nature in any such action, suit or proceeding except mandatory counterclaims with same facts and circumstances.
insert_comment
13. As used herein, the term “Guarantor’s Assets” shall mean, with respect to each Guarantor, any and all tangible and intangible assets with respect to which such Guarantor now or hereafter has any ownership interest (including, but not limited to, any assets held now or hereafter with a spouse). Each Guarantor represents, warrants and agrees that (i) such Guarantor will not transfer or permit to be transferred all or substantially all of Guarantor’s Assets, (ii) such Guarantor will not transfer or permit to be transferred any of Guarantor’s Assets if such transfer would impair such Guarantor’s ability to perform such Guarantor’s obligations under this Guaranty and/or to make payments that may be required under the terms of this Guaranty and (iii) such Guarantor will not transfer any of Guarantor’s Assets if such transfer would leave such Guarantor with a net worth less than such Guarantor’s potential liability under this Guaranty. Each Guarantor agrees that such Guarantor will deliver such Guarantor’s personal financial statements upon Landlord’s request and have same certified by his accountant upon request of Landlord; provided, however, that each Guarantor shall only be obligated to deliver such Guarantor’s personal financial statements one (1) time per calendar year (unless Tenant is in Default under the Lease and/or any Guarantor is in default hereunder, in which case Landlord may request such financial statements without regard to the timing of the most recent request therefor).
insert_comment
14. Capitalized terms not otherwise defined herein, if any, have the meanings given to them in the Lease.
insert_comment
[Signature and acknowledgment page follows.]
IN WITNESS WHEREOF, this Guaranty has been executed as of the date of the Lease.
insert_comment
_____________________________ insert_comment | 135-55-5901____________________________ insert_comment |
| Social Security Number insert_comment |
SPOUSAL NON-TRANSFER OF ASSETS AGREEMENT
insert_comment
I, the undersigned, expressly acknowledge and agree that I shall not initiate and/or take part in the transfer of any funds and/or other assets held jointly with my spouse (and/or any other party(ies)) that could place my spouse, as “Guarantor”, in breach of any obligations and/or liabilities set forth in the Guaranty of Lease to which this Spousal Non-Transfer of Funds Agreement is attached.
insert_comment
______________________________
insert_comment [Name]
insert_comment [Address]
insert_comment
(State of ___________________)
insert_comment ) ss:
insert_comment (County of _________________)
insert_comment
On this ____ day of __________, 201_, before me ___________________ (name of notary) the undersigned officer, personally appeared _____________ , to me known and known to me to be the person described in and who executed the foregoing instrument, and (s)he duly acknowledged to me the execution of the same.
insert_comment
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
insert_comment
________________________
insert_comment Signature of Notary Public
insert_comment (Seal)
insert_comment My commission expires:
insert_comment
insert_comment