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EXHIBIT 10.11
ALL AMERICAN FOOD GROUP, INC.
LEASE ABSTRACT
LANDLORD: Xxxxx X. Xxxxx Co., LLC
000 Xxxx Xxxxx Xxxxxx
Xxxxxxxxxx, XX 00000
TENANT: The Company
PROPERTY: 000 Xxx Xxx Xxxxx
Xxxxx Xxxxxxxxxx, XX 00000
SQUARE FOOTAGE: 22,324 square feet of space until January 31, 2002 (the
"Initial Space"); 29,324 square feet of space (the entire
premises) from February 1, 2002 until the Expiration Date
(the "Additional Space").
COMMENCEMENT
DATE: February 15, 1997
EXPIRATION DATE: January 31, 1997
OPTION: One five year option to renew on the same terms and conditions
as current lease (the "Renewal Term").
RENT: $9,301.67 per month from April 1, 1997 until January 31, 2002;
$13,440.17 per month for the remainder of the lease (no rent is due
for the period from February 15, 1997 to March 31, 1997).
ADDITIONAL SPACE: Prior to February 1, 2002, Landlord may lease all or part
of the Additional Space to a third party and Tenant may increase the Initial
Space with the addition of any part of the Additional Space not then occupied
or under lease to be occupied by a third party.
TAXES/INSURANCE/ OTHER CHARGES: Tenant shall pay: its pro rata share of all
real estate, ad valorem or other property taxes assessed against the premises
for land, building, fixtures or improvements; common area maintenance charges;
property insurance, comprehensive general liability insurance and rent
insurance.
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ASSIGNMENT: The lease is assignable only with the written permission of the
Landlord and is not assignable during the Renewal Term.
DEFAULT: Events of default include:
1. all or any part of the premises become vacant due to Tenant's
removal, ejectment or eviction from, or abandonment of the
premises;
2. Tenant does not make payment of rent or other charges when due
and such default continues for fifteen (15) days after written
notice from Landlord;
3. Tenant fails to perform any of its other obligations under the
lease;
4. Tenant fails to comply with any federal, state or local
statutes, rules, ordinances, orders, regulations and
requirements; or
5. Tenant files for bankruptcy.
