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THIS AGREEMENT, made November 1, 1995 by and between
Acetylene Products, a party of the first part as "LESSOR", said
party being of the City of Wheeling, Ohio County, West Virginia,
VALLEY WELDING SUPPLY COMPANY INCORPORATED, party of the second
part as "LESSEE", whereby the parties agree as follows:
LESSOR, in consideration of the rents to be paid and
covenants to be performed by LESSEE hereunder, hereby leases to
LESSEE for the term and subject to the covenants and conditions
hereinafter set forth, the following described premises: 0000
Xxxxx Xxxxxx Rear-Upstairs
TO HAVE AND TO HOLD the above described real estate for
the term of One Year commencing on November 1, 1995 and end
October 31, 1996 accordingly.
LESSEE for and in consideration of the premises and
covenants aforesaid hereby obligates and binds itself to pay or
cause to be paid unto said LESSOR, its heirs, administrators,
executors and assigns, the just and full sum of $8,400.00,
payable in monthly installments, monthly in advance, $700.00
each, with the first said installments to be paid on the first
day of the month of occupancy hereinabove referred to and each of
the $700.00 installments to be paid on the first day of each and
every succeeding month thereafter.
LESSOR does further grant to LESSEE the option of
renewing this lease for an additional period of one years and
upon the same terms and conditions as are herein contained,
except that the rental shall be in an amount to be agreed upon
between the parties; provided, however that notice of such
intention to renew must be served in writing by LESSEE upon
LESSOR at least sixty (60) days before said expiration date.
In the event the said premises shall be damaged by fire,
flood, storm, civil commotion, or other unavoidable cause, to an
extent not repairable within ninety (90) days from the date of
such damage, this lease shall terminate as of the date of such
damage.
And it is further agreed that the said LESSOR, its heirs,
administrators, executors and assigns, may enter into and upon
the said leased premises at reasonable hours in the daytime, from
ten o'clock in the morning to five o'clock in the afternoon, to
examine the same and for three (3) months next preceding the
expiration of said term to permit the usual notices of "FOR RENT"
and "FOR SALE" to be placed on any outside wall of said premises
and remain thereon without hindrance or molestation.
The said LESSEE hereby agrees that it will not transfer
or assign this lease, or sublet or underlet the premises
aforesaid or any part thereof, without the written consent of the
said LESSOR, its heirs, administrators, executors and assigns,
which consent shall not be unreasonably or arbitrarily withheld.
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LESSEE shall be responsible to maintain and repair the
interior of the premises leased hereunder, and shall provide
preventive maintenance and care for any heating units during the
terms of the lease and any renewal thereof, at its expense.
LESSOR shall be responsible to maintain and repair the remaining
portions of the premises, including, but not limited to, the
structure, roof, windows, sidewalks, and replacing heating units,
if required.
LESSEE may, at its own expense, either at the
commencement of or during the terms of this lease, make such
alterations in and/or additions to the leased premises,
including, without prejudice to the generality of the foregoing,
alterations in the water, gas and electric wiring systems, as may
be necessary to fit the same for its business, upon first
obtaining the written approval of the LESSOR as to the materials
to be used and the manner of making such alterations and/or
additions. LESSOR covenant not to unreasonably withhold approval
of alterations and/or additions proposed to be made by LESSEE.
LESSEE may also, at its own expense, install such counters, rack,
shelving, fixtures, fittings, machinery and equipment upon or
within the leased premises as LESSEE may consider necessary to
the conduct of its business. At any time prior to the expiration
or earlier termination of this lease, LESSEE may remove any or
all such alterations, additions, or installations in such a
manner as will not substantially injure the leased premises. In
the event LESSEE shall elect to make any such removal, LESSEE
shall restore the premises, or the portion or portions affected
by such removal, to the same condition as existed prior to the
making of such alterations, addition or installation, ordinary
wear and tear, damage or destruction by fire, flood, storm, civil
commotion or other unavoidable cause excepted. All alterations,
additions or installations not so removed by LESSEE shall become
the property of LESSOR, without liability on LESSOR's part to pay
for the same. Any person or persons employed by said LESSEE in
the making of any alterations or improvements shall do so at his
own risk, said LESSEE has no authority to do anything in relation
to the premises leased which will give any person or persons the
right to a mechanics' or other lien on said premises, or any part
thereof.
And it is expressly agreed between the parties hereto
that any indulgence in not enforcing prompt payment of any
installment of rent when due, or any other indulgence or
deviation from the condition herein granted to the said LESSEE by
said LESSOR, shall not be construed as waiving any of the
conditions or stipulations herein, and the same shall continue
there-after in as full force and effect as though such indulgence
had not been granted.
And, if at any time during the continuance of said lease
the LESSEE shall fail to comply with any of the terms, covenants
and conditions herein contained, the said LESSOR, its heirs,
administrators, executors or assigns, shall have the right to re-
enter and possess the premises aforesaid, the same as though this
lease had not been made, provided, however, that LESSOR shall
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notify LESSEE promptly in writing of any default under this
lease, whereupon LESSEE shall be entitled to fifteen (15) days
from receipt of said notice in which to cure the default before
the provisions of this paragraph become operative.
It is expressly agreed between the parties hereto that at
the expiration of this lease, or any renewal thereof, should the
LESSEE hold over for any reason and the LESSOR accept the payment
of any rent covering any period of time beyond the term of this
lease, or any renewal thereof, then, in the absence of any
written agreement to the contrary, continuance by the LESSEE
hereunder we shall be on a month-to-month basis only.
The LESSEE hereby covenants that it will not make or
suffer any use or occupancy of the leased premises contrary to
the laws of the State of West Virginia, of the United States, or
nay ordinance of the City of Wheeling, now or hereafter, in
force.
LESSEE agrees to pay all utility bills and fees.
LESSOR agrees to make the following alterations on the
premises at its expense prior to LESSEE taking possession.
It is also agreed that if all or any part of the premises
is taken by or sold under threat of appropriations, this lease
will terminate as of date of such taking or sale. The entire
award or compensation paid for the property taken or acquired and
for damages to residue, if any, will belong entirely to LESSOR,
and no amount will be payable to LESSEE.
Any increase in the cost of insurance premiums to the
LESSOR on LESSOR's fire, extended and comprehensive damage
insurance above the base premium now being paid, which increase
is caused by acts or use of the demised premises by LESSEE, will
be paid by LESSEE upon submission of a copy of the premium
invoice by LESSOR.
LESSOR and LESSEE agree that all of the provisions hereof
are to be construed as covenants and agreements, as though the
word imparting such covenants and agreements were used in each
separate paragraph hereof, and should any term or provision of
this letter be held to be invalid or unenforceable, then the
remainder of this lease shall not be affected thereby, and each
term and provision shall be valid and enforceable to the fullest
extent permitted by law.
It is further understood and agreed that the LESSOR shall
not be liable for any damage, loss or injury which may be
sustained or suffered by the said LESSEE or by any third party or
parties to it or to their person or property while on said
premises, nor for any damage or loss to the property of the
LESSEE situate in said lease premises, except insofar as said
loss, damage or injury may be occasioned by the negligence of the
LESSOR, its servants, agents or representatives, while upon said
premises, and said LESSEE is to be responsible for and to
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indemnify and save harmless the LESSOR of and from any and all
loss, damage, injury, fines, suits, proceedings, claims, demands
and actions of any kind or nature, of anyone whomsoever arising
or growing out of or in any wise connected with the occupancy or
use of said premises, except as hereinabove expressly excepted.
This lease shall be binding upon the parties hereto,
their heirs, successors, administrators and assigns.
IN WITNESS WHEREOF, the parties hereto have set their
hands on the day and year first above written.
[FN]
SUBJECT TO A 10% INCREASE IN THE RATE FOR THE RENEWED PERIOD.
WITNESSETH:
/s/ Xxxxx Xxxxxxxx /s/ Xxxx X. Xxxx
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LESSEE
/s/ Xxxxx Xxxxxxxx /s/ Xxxxxxxx X. Xxxxx
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LESSOR
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