Exhibit 10.14
LEASE AGREEMENT
STATE OF TEXAS
COUNTY OF BOWIE KNOW ALL MEN BY THESE PRESENTS:
Xxxxxxxxx-Xxxxx INVESTMENTS, L.L.C., hereinafter called Landlord and Safescript
Pharmacies Inc. hereinafter called Tenant, have entered into the following
covenant and agreement of Lease, to-wit:
1. LEASED PREMISES: Landlord, in consideration of the rents and covenants
hereinafter stated to be paid and performed by the Tenant, hereby demises and
leases unto the Tenant and Tenant leases from Landlord those certain premises
located in Texarkana, Bowie County, Texas, at 0000 Xxxxxx Xxxx (Portion of Lot
6, all of Lots 7 through 11, and part of Xxx 00, Xxxxx 0 xx Xxxxxx Addition)
which consists of a building containing 1458 square feet which is constructed on
the area outlined in red on the site plan of the shopping center of which said
building is a part of being shown on Exhibit "A" attached hereto and which is
incorporated herein for a full and complete description of the property being
leased. The use and occupancy of the Tenant of the leased premises will include
the use in common with others entitled thereto of the common areas, employee's
parking areas, service roads, loading facilities, sidewalks, customer car
parking areas and other facilities of said shopping center as may be designated
from time to time by the Landlord; subject, however, to the terms and,
conditions of this Agreement.
2. TERM OF LEASE: The primary term of this Lease shall be for a period of five
(S) years commencing on May 1, 2002, and ending on the May 1, 2007, and the
first rental installment due and payable on the signing of the contract (May
1,2002) and the last rental installment due on June 1, 2002 and thereafter all
rental installments shall be due and payable in advance on the first day of each
succeeding month during the term of this Lease or any extension thereof. Tenant
has made the first rental installment simultaneous with the execution of this
Lease Agreement, the receipt of which is hereby acknowledged by Landlord. Tenant
shall pay to the Landlord, initially, monthly rental as follows:
BASE RENT $ 764.00
PROPERTY TAX $ 135.50
INSURANCE $ 17.50
COMMON AREA MAINTENANCE $ 83.00
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TOTAL MONTHLY RENTAL $ 1000.00
The total monthly rental installment hereunder in the amount of 1000.00 shall be
subject to change each January 1'` during the term of this lease due to change
in the amount of the contribution for insurance, taxes and common area
maintenance hereinafter defined. Each such installment shall be due and payable
in advance on the first day of each calendar month during the term of this
Lease. Tenant shall punctually pay the rentals to Xxxxxxxxx-Xxxxx INVESTMENTS,
L.L.C. at Alexander's Jewelers, 0000 Xxxxxx Xxxx, Xxxxxxxxx, Xxxxx 00000, or at
such other :place Landlord may designate to Tenant in writing.
3. COMMON AREA MAINTENANCE: The Landlord shall maintain the parking area
substantially as shown on "Exhibit A." The purpose of the site plan attached
hereto as "Exhibit A" is to show the approximated location of the buildings,
parking area and other common areas. The Landlord reserves the right at any time
to relocate any building, parking area or common areas shown on said site plan.
The Landlord also reserves the right to construct other buildings or
improvements in the shopping center from time to time and to make alterations
thereof or additions thereto and to build additional stories on any building in
the shopping center provided the number of parking spaces from the shopping
center shall not be reduced to less than thirty-five (35) parking spaces, and
further provided that such changes, additions or alterations do not
substantially alter the traffic pattern of the shopping center nor lessen the
exposure of Tenant's building as viewed from the public street.
All Automobile parking areas, driveways, entrances and exits thereto,
and other facilities furnished by Landlord in or near the shopping center,
including sidewalks and ramps, landscaped areas and other areas and improvements
provided by Landlord for the general use, in common, of Tenants, their officers,
agents, employees, and customers, shall at all times be subject to the exclusive
control and management of Landlord and Landlord shall have the right from time
to time to establish, modify and enforce reasonable rules and regulations with
respect to all facilities and areas mentioned iii this article. Landlord shall
have the right to construct, maintain and operate lighting facilities on all
said areas and improvements; to police the same; from time to tune to change the
area, level locations and arrangement of parking areas acid other facilities
hereinabove referred to; to close all or any portion of said areas or facilities
to such extent as may, in the opinion of Landlord's counsel, be legally
sufficient to prevent a dedication thereof or the accrual of any rights to any
person or the public therein; to close temporarily all or any portion of the
parking areas or facilities; to discourage non-customer parking; and to do and
perform such other acts in and to said areas and improvements as, in the use of
good business judgment, the Landlord shall determine to be advisable with a view
to the improvement of the convenience and use thereof by Tenants, their
officers, agents, employees and customers. Landlord will operate and maintain,
at Landlord's sole cost and expense, the common facilities referred to above in
such manner, as Landlord, in its sole discretion, shall determine from time to
time. Without limiting the scope of such discretion, Landlord shall have the
full right and authority to employ all personnel and to make all rules and
regulations pertaining to and necessary for the proper operation and maintenance
of the common areas and facilities. Not withstanding anything herein to the
contrary, Landlord shall keep the parking area properly cleaned, striped,
lighted and repaired during the term of this lease and any option periods.
Tenant and its employees shall park their cars only in those portions
of the parking area designated for that purpose by Landlord.
Tenant and Landlord agree that Landlord shall determine on an annual
basis the expenses necessary to operate the common areas of the shopping center,
including the expenses of providing refuse service thereto. Upon such
calculation, Landlord shall notify Tenant, in writing, of Tenant's prorata share
of the cost and expenses, which shall be paid in monthly installments on the
first day of each and every calendar month simultaneous with the rental
payments.
4. COVENANT OF PEACEFUL POSSESSION: Landlord covenants that it is the owner of
the property herein leased and that Tenant shall have the right to peaceful and
uninterrupted possession of the leased premises throughout the primary term
hereof and any extension thereof.
5. USE Of LEASED PREMISES: The premises leased under this Agreement are to be
used for office space. Tenant covenants that it will not use the leased premises
for any other propose -without the prior written consent of Landlord.
6. REPAIR AND MAINTENANCE: Tenant agrees to use the leased premises as a prudent
administrator would do and to return the same to Landlord upon the termination
hereof in the same condition as that when received, damage by fire or other
casualty and ordinary wear and tear incident to the use of the leased premises
being excepted. Tenant shall keep the interior improvements in the leased
premises in good repair and including, but not limited to, the plate glass,
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storefront and doors, interior plumbing and electrical systems and the interior
of the building generally, except for structural defects due to faulty
construction which may exist at the time Tenant takes possession-of the leased
premises.
Landlord shall keep the roof, exterior walls, (excluding all windows
and doors), foundations, and structural components of the leased premises in
good repair and shall also keep in good repair the utility lines extending to
the service connections for the leased premises. The landlord shall be
responsible far maintaining the air conditioners and heating systems servicing
the demised premises, and the tenant shall maintain the changing the filters.
7. IMPROVEMENTS AND FIXTURES: All improvements and additions to the leased
premises shall adhere to the leased premises and become the property of the
Landlord, with the exception of such additions made by Tenant that are usually
classed as furniture and trade fixtures; said furniture and trade fixtures are
to remain the property of the Tenant and may be removed by the Tenant upon
expiration of this Lease, provided all terms, conditions and covenants of this
contract have been complied with by Tenant and Tenant shall repair any damage
caused to the building by the removal of said furniture and trade fixtures.
Any construction or remodeling to demised premises after the lease commences,
shall be at the sole cost and expense of Tenant. Tenant shall be responsible for
any damages done to premises, plumbing or electrical in remodeling and shall
clean up any area affected by remodeling.
8. RESPONSIBILITY TO THIRD PARTIES: Tenant shall assume full responsibility for
the condition of the premises and Landlord shall not be liable for injury caused
by other than latent defects therein to the Tenant or to anyone on the premises
who derives his right to be thereon from the Tenant.
Tenant agrees to carry at all times during the term of this Lease at
its sole expense and as a part of the consideration for this Lease, for the
benefit of Landlord, its successors and assigns, general public liability
insurance against claims for bodily injury, death or property damage occurring
upon, in or about the leased premises, such insurance to afford protection to
the limits of not less than:
Five Hundred Thousand and no/100 Dollars ($500,000.00) for airy one (1) person.
One Million and no/100 Dollars ($1,000,000.00) for more than one (1) person in
any one (1) accident; and
Three Hundred Thousand and no/100 ($300,000.00) for property damage. Tenant
shall cause Landlord to be named as an additional insured upon the general
public liability insurance policy required to be obtained by Tenant under this
Lease Agreement. Tenant shall obtain a written obligation on the part of each
insurance company to notify Landlord at least ten (10) days prior to
cancellation of such insurance. Such plicies for fully executed certificates of
insurance shall be promptly delivered to Landlord and renewals thereof as
required shall be delivered to Landlord at least thirty (30) days prior to the
expiration of the respective policy terms. Tenant's failure to comply with the
foregoing requirement relating to insurance shall consitute an event of default
hereunder. In addition to the remedies provided herein, Landlord may, but is not
obligated to, obtain such insurance and Tenant shall pay to Landlord upon demand
as additional rental the premium cost thereof.
Page 3 of 9 Pages
9. PAINTING, DECORATION AND DISPLAYS: Tenant will not paint, decorate or change
the architectural treatment of any part of the exterior of the leased premises
without first obtaining Landlord's written approval. Tenant agrees to promptly
remove any such paint or decoration, which has been applied or installed without
Landlord's prior written approval upon the order of Landlord.
10. PAYMENT FOR UTILITIES: Landlord agrees to cause to be provided and
maintained the necessary mains, conduits and other facilities necessary to
supply water, electricity, telephone service and sewerage service to the demised
premises. In the event any repair, maintenance or replacements are made
necessary by the negligent act or omission of Tenant, its agents or employees,
such repairs, maintenance or replacement shall be at Tenant's expense.
Tenant shall promptly pay all charges for electricity, gas, telephone
service, sewerage service and other charges for public utilities used or
consumed by Tenant on the leased premises. The refuse service is a part of the
amount for common area maintenance. This arrangement shall be subject to change
at any time if deemed necessary by landlord.
11. RECIPROCAL WAIVER OF SUBROGATION: Landlord hereby waives any and all rights
of recovery against Tenant for any loss by insured peril occurring to the
building or other improvements situated on the leased premises and hereby agrees
not to assign to any insurer any right or cause of action for any insured damage
which may occur during the term of this Lease. Tenant hereby waives any and all
rights of recovery against Landlord for loss by peril occurring to any
furniture, fixtures or other leasehold improvements of Tenant or to the
merchandise or stock of goods of Tenant situated on the leased premises and
hereby agrees not to assign to any insurer any right or cause of action for any
insured damage to said property which may occur during the term of this Lease.
Notwithstanding the foregoing, any waiver of subrogation shall be void to the
extent that it impairs any insurance coverage.
12. INSOLVENCY, BANKRUPTCY OR DEBTOR'S ARRANGEMENT OR REORGANIZATION: Should
Tenant become insolvent or should it apply to a Bankruptcy Court to be adjudged
a voluntary bankrupt, or if it should be adjudged a bankrupt in involuntary
proceedings, or if a receiver be appointed for Tenant's business or if any
proceedings be undertaken by Tenant for a respite, arrangement or reorganization
under the Bankruptcy Code or the laws of the State of Texas, then, in such
event, Landlord may, at its option, terminate this contract as may be allowed by
law and Tenant shall remain liable for all rental payments until such time as
Landlord is able to re-lease the premises.
Should the Landlord become insolvent or should it apply to a Bankruptcy
Court to be adjudged a voluntary bankrupt, or if it should be adjudged bankrupt
in involuntary proceedings, or if a receiver be appointed for Landlord's
business, or if any proceedings be undertaken by Landlord for a respite,
arrangement or reorganization under the Bankruptcy Code or the laws of the State
of Texas, then, in such event, Tenant may, at its option, terminate this
contract of lease as may be allowed by law.
13. FIRE CLAUSE AND INSURANCE: Tenant agrees to pay its proportionate share of
Landlord's cost of carrying fire and extended coverage insurance, liability and
other coverage carried by Landlord on the Shopping Center and its operation
("Insurance"). During each month of the term of this Lease, Tenant shall make
monthly payments of one-twelfth (1112th) of the cost of such insurance incurred
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for that period, due on the 1 st of the month with the rental payments. Tenant's
proportionate share of the cost of Insurance on the Shopping Center shall be
computed by multiplying the cost of Insurance by a fraction, the numerator of
which shall be the number of square feet of floor space in the Demised Premises
and the denominator of which shall be the numbers of square feet of all
buildings in the Shopping Center. The amount to be paid by Tenant to Landlord
order this paragraph shall be calculated on an annual basis on each anniversary
date of the insurance policy carried by Landlord on the shopping center.
The Tenant shall carry any fire and extended coverage insurance carried
upon the contents and fixtures placed in the leased premises by Tenant and
Landlord shall have no responsibility therefore.
14. CONDEMNATION: If any portion of the building upon the leased premises or
more than twenty percent (20%) of the parking area or common areas embraced in
the shopping center shall be taken in any proceeding by public authorities by
condemnation or otherwise, or be acquired for public or quasi-public purposes,
Tenant shall have the option of terminating this Lease, in which case any
unearned rent, assessments or other charges paid in advance shall be refunded to
Tenant. In the event that twenty percent (20%) or less of the parking areas or
common areas embraced in the shopping center shall be taken in any such
condemnation or other proceeding, or in the event Tenant shall not exercise its
option to terminate the Lease because of a taking of a part of the building or
more than twenty percent (20%) of the parking area or common areas in any such
condemnation, then the rent shall be reduced as follows: If any portion of the
parking area or common areas of the shopping center is taken then the rent
calculated shall be reduced by an amount that is in the same ratio to minimum
monthly rental as the value of the parking area or common areas taken bears to
the total value of the parking area and common areas immediately before the date
of the taking. If any portion of the building is taken then Landlord shall
promptly repair said building and the rent calculated shall be reduced in the
same proportion that said building is reduced by such condemnation or other
proceeding. In any such proceeding whereby all or a part of said premises are
taken, either Landlord or Tenant shall be free to participate in and make claim
against the condemning party for the amount of the actual provable damage done
to each of them by such condemnation.
15. COMPLIANCE WITH ORDINANCES, ETC: Tenant agrees to comply with all
ordinances, rules, regulations, orders and requirements of the Federal, State,
County and City Governments and of my and all of their agencies, boards or
departments in the operation of the business to be conducted on the premises and
for the correction, prevention and abatement of nuisances or other grievances
i11, upon or connected with said premises, all at Tenant's expense, except that
Tenant will not be responsible for structural changes that may be required by
any law or agency or government.
16. LANDLORD'S ACCESS: Tenant shall permit Landlord, or its employees or agents,
at any reasonable time to enter the leased premises to make inspections or to
provide required services in or to the leased premises with an employee or agent
of Tenant being present. In the event of any emergency, Tenant will immediately
permit Landlord to perform any acts related to the safely, protection and
preservation of the leased premises. It is understood, however that Landlord
will contact Tenant reasonably in advance of Landlord's entry upon the demised
premises and advise Tenant of Landlord's desire to inspect and enter upon the
demised premises.
17. MECHANIC'S LIEN INDEMNITY: Tenant agrees to keep the leased premises free
from any liens arising out of any work performed, materials furnished or
obligations incurred by Tenant and to indemnify and save Landlord harmless from
and against any such liens. If any such liens shall at any tune be filed against
the leased premises or any part thereof as a consequence of an obligation
incurred by Tenant then Tenant shall cause the same to be discharged of record
Page 5 of 9 Pages
within twenty (20) days of the date of filing of such lien; provided, however,
that Tenant shall have the right to contest the validity or amount of any such
lien if such contest shall act to stay the enforcement of such lien against the
leased premises.
18. SUBORDINATION AND MORTGAGEE'S REQUIREMENTS: This Lease is hereby declared to
be subordinate to any mortgage now in existence or hereafter placed upon the
leased premises by Landlord and Tenant agrees upon demand to execute such
further instruments subordinating this Lease as Landlord may request, provided
such subordination shall be upon the express condition that this Lease shall be
recognized by the mortgagee and successor to the mortgagee and that the rights
of Tenant shall remain in full force and effect during the term of this Lease so
long as Tenant shall continue to perform all the covenants and conditions of
this Lease.
In the event a mortgagee or prospective mortgagee should so require,
Tenant shall deliver to Landlord, from time to time, for delivery to such
mortgagee the following, to-wit:
(a) An acknowledgment of the assignment of rentals and other sums due
hereunder to mortgagee.
(b) An agreement requiring Tenant to advise the mortgagee of damage to
or destruction of the demised premises by fire or other casualty
requiring its reconstruction and requiring Tenant to give the mortgagee
written notice of Landlord's default hereunder and to permit the lender
to cure such default within a reasonable time after such notice before
exercising any remedy Tenant might possess as a result of such default.
(c) An acceptance or estoppels letter, to be executed only after the
commencement of the lease term, accepting the premises as completed in
accordance with the Lease and containing such other information as is
customarily contained in such acceptance or estoppels letter.
In the event Landlord should so request, Tenant shall deliver to
Landlord, from time to time, a statement in record able form certifying that the
Lease is unmodified and in full force and effect (or if there have been
modifications, that the same is in full force and effect as so modified) and
further stating the date to which rent and other charges payable under the Lease
have been paid and setting forth the nature of defenses or offsets, if airy,
claimed by Tenant.
19. PARTIAL INVALIDITY: If any term, covenant, condition or provision of this
Lease is held by a court of competent jurisdiction to be invalid, void, or
unenforceable, the remainder of the provisions hereof shall remain in full force
and effect and shall in no way be affected, impaired or invalidated thereby.
20. COVENANTS BINDING: The covenants, conditions and agreements contained in
this Lease shall be binding upon Landlord and Tenant and their heirs, successors
and assigns.
If Tenant holds over and continues in possession of the leased premises
after expiration of the tern of this lease or any extension of that term, Tenant
will be deemed to be occupying the premises on the basis of a month-to-month
tenancy, subject to all of the terms and conditions of this lease.
21. SHOPPING CENTER SIGNS: Landlord and Tenant agree that all signage to be
erected by Tenant shall comply with the terms and provisions of the sign
agreement attached hereto as Exhibit "B" and made a part hereof by reference to
the same extent as if copied herein verbatim. Tenant shall comply with all city
and state ordinances.
Page 6 of 9 Pages
22. EXCUSE OF LANDLORD'S PERFORMANCE: Anything in this Agreement to the contrary
notwithstanding, providing such cause is not due to the willful act or neglect
of the Landlord, the Landlord shall not be deemed in default with respect to the
performance of any of the terms, covenants and conditions of this Lease if same
shall be due to any strike, lockout, civil commotion, invasion, rebellion,
hostilities, military or usurped power, sabotage, government regulations or
controls, inability to obtain any material, through act of God or other cause
beyond the control of the Landlord.
Tenant may, at its option, cure at any time after fifteen (15) days
written notice to Landlord by certified mail, return receipt requested (unless
the nature of the defect necessitates immediate cure without notice) any default
by Landlord under this Lease, and whenever Tenant so elects, all costs and
expenses incurred by Tenant in curing such defect, together with interest at the
prime rate, which shall be paid by Landlord to Tenant on demand. .In the event
that Landlord fails to make such payment on demand, Tenant may, at its option,
deduct such costs or expenses or any part thereof from future rent and other
charges payable from Tenant to Landlord, however, Tenant's right to withhold
such costs or expenses shall be limited so as to prohibit any rent abatement by
Tenant below one-half the monthly rental amount.
23. NOTICES: All notices or notifications required or permitted under this Lease
shall be given or exercised in writing and shall be deemed to have been properly
served when deposited iii the United States Mail, certified or the then
equivalent, postage prepaid, return receipt requested, and addressed to Landlord
at 0000 Xxxxxx Xxxx, Xxxxxxxxx, Xxxxx, 00000, and addressed to Tenant at 0000
Xxxxxx Xxxx Xxxxxxxxx, XX 00000. Either party may change the person and the
place to which notices are to be mailed by notice to the other. Should Landlord
executed .an assignment of the rental due raider this Lease and furnish Tenant
written notice thereof and the name and address of such assignee, then so long
as said assignment is effective, Tenant shall serve upon Landlord's assignee
duplicate originals of all notices given to Landlord under this Lease.
24. DEFAULT: h1 the event Tenant shall fail to pay any monthly rental within
five (5) days from the date payment becomes due, then Landlord shall notify
Tenant in writing, by certified mail, return receipt requested, of the default
in making said payment. Any rental payment received more than five (5) days
after its due date will be assessed a late charge of $25.00 per day. If such
default is not cleared by Tenant within ten (10) days from the date said written
notice is received, then Landlord shall have the right to immediately cancel
this lease and pursue any remedy or remedies which may be available at law or in
equity. In case of default by the Tenant in the rental covenant or any of the
covenants contained herein, the Landlord may enforce the performance of this
Lease as follows: (a) this Lease may be forfeited at Landlord's option and
discretion if any such default continues for a period of thirty (30) days after
the Landlord notifies the Tenant of such default and its intention to declare
the Lease forfeited, such notice to be sent to the Tenant by certified mail,
return receipt requested, and unless the Tenant shall have completely removed or
cured such default or is engaged in removing or curing such default prior to the
expiration of said thirty (30) day period, this Lease shall cease and come to an
end as if it were the day originally fixed herein for the expiration of the term
hereof, and the Landlord, its agent or attorney, shall have the right, without
further notice or demand to enter and remove the Tenant without being guilty of
any manner of trespassing and without prejudice to any remedies for arrears of
rent or breach or covenant, and the Landlord, its agent, or attorney, may resume
possession of the premises and rent the same for the remainder of the term of
this Lease for the best rent the Landlord, its agent or attorney, may obtain,
for the account of the Tenant, and the Tenant shall make good any deficiency; or
(b) Landlord may take possession of the leased premises and collect from Tenant
all damages sustained by reason of such breach; or (c) Landlord may pursue any
remedy or remedies which may be available at law or in equity.
Page 7 of 9 Pages
In the event of default by Tenant as aforesaid, and in the event the
enforcement thereof is placed in the hands of an attorney by Landlord, then
Tenant agrees to pay all reasonable attorney's fees as may be allowed by law
incurred by Landlord. In the event of default by Landlord of my term or
condition of this Lease, then Landlord agrees to pay all attorney's fees as may
be allowed by law incurred by Tenant in enforcing its rights or protection its
interest.
25. TAXES: Landlord will pay all real property taxes and general and special
assessments (hereinafter called real property taxes) which shall during the term
hereof be levied, assessed, imposed or become due and payable in connection with
the property and improvements herein leased and all other property and
improvements in the shopping center. Tenant shall reimburse Landlord its
proportionate share of such real property taxes paid by Landlord concerning the
shopping center. Tenant shall make monthly payments of one-twelfth (1/12th) of
the cost of such real property taxes incurred for that assessment period, due on
the lst of the month with the rental payment. The proportionate share of such
real property taxes to be paid by Tenant shall be computed by multiplying the
cost of real property taxes by a fraction, the numerator of which shall be the
number of square feet of floor space in the Demises Premises and the denominator
of which shall be the number of square feet of all buildings in the Shopping
Center. A copy of all tax statements and other instruments received by Landlord
in connection with the computation of said real property taxes shall be
furnished by Landlord to Tenant, at Tenant's request. The amount to be paid by
Tenant to Landlord under this section shall be calculated annually at the time
each the appropriate taxing authorities issue assessment for real property
taxes.
Tenant will pay all taxes, assessments and charges of every type and
nature whatsoever which shall during the term hereof be levied, assessed;
imposed or become due and payable in connection with any fixtures, equipment
inventory or other personal property place upon the leased premises by Tenant.
26. ASSIGNMENT OR SUB-LETTING PROHIBITED: The Tenant shall not have the right to
assign this Lease or to sublet airy part of the premises at any time during the
term of this Lease, or during any extended term, without the prior written
consent of Landlord, which written consent will not be unreasonable withheld. It
is understood and agreed that the assigning of said Lease by Tenant or the
subletting of die premises by the Tenant, after securing written consent of
Landlord, shall not relieve Tenant's assignees or sub lessees from complying
with all the terms of this Lease and shall not change the type of use that can
be made of die premises.
27. ALTERATIONS: The Tenant shall not make any major alterations or additions to
the building herein leased without the prior written consent of the Landlord,
which written consent will not be unreasonably withheld.
28. AMENDMENTS: No amendment, modification, or alterations of the teams of this
agreement shall be binding unless it is in writing, dated subsequent to the date
of this agreement, and duly executed by the parties to this agreement.
29. TERMINATION OF PRIOR AGREEMENTS: All prior Lease Agreements between Landlord
and Tenant respecting the property covered herein are hereby terminated. This
agreement supersedes and takes the place of any such prior agreements and
constitutes the entire agreement between the parties.
30. TEXAS LAVA TO APPLY: This agreement shall be construed under, and ill
accordance with the laws of the State of Texas, and all obligations of the
parties created by this Lease are performable in Bowie County, Texas.
Page 8 of 9 Pages
31. ATTORNEY'S FEES AND COSTS: If, as a result of a breach of this agreement by
either party, the other party employs an attorney or attorneys to enforce its
rights under this Lease, then the breaching party agrees to pay the other party
the reasonable attorney's fees and costs incurred to enforce the Lease.
32. FORCE MAJEURE: Neither Landlord nor Tenant shall be required to perform any
term, condition, or covenant in this Lease so long as performance is delayed or
prevented by force majeure, which shall mean acts of God, strikes, lockouts,
material or labor restrictions by any governmental authority, civil riots,
floods, and any other cause not reasonably within the control of Landlord or
Tenant and which by the exercise of due diligence either Landlord or Tenant is
unable xxxxx or in part, to prevent or overcome.
33. TIME OF ESSENCE: Time is of the essence of this agreement.
34. OPTION TO RENEW LEASE: Landlord hereby grants unto Tenant the exclusive
right and option of extending the term of this Lease for two (2) additional
terms of five (5) years each commencing on May 1, 2007 and terminating on May 1,
2012, and commencing on May 1, 2017 and terminating on May 1, 2022 provided that
Tenant is not in default in the terms of this Lease. In order to exercise such
extension; Tenant shall serve written notice upon Landlord by certified mail,
return receipt requested, at least ninety (90) days prior to the end of the
primary term of this Lease. In the event Tenant exercises its option to extend
such Lease far such additional term, the base rent for such additional terms
shall be 855.68 for the first additional term and 958.36 for the second
additional term (same representing a twelve and one-half percent increase over
the base rent for the primary term and the secondary term respectably).
EXECUTED in multiple counterparts by Landlord and Tenant, each of which
shall have the frill force and effect of an original, this 29th day of April
2002 , but effective as of the 1st day of May 2002.
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Landlord Witnessed
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Safescript Pharmacies Inc.
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President, Xxxxxx Xxxxxxx
Page 9 of 9 Pages
EXHIBIT "A"
LEGAL DESCRIPTION OF REAL PROPERTY:
All that certain tract or parcel of land situated in the Xxxxxx Xxxxxxx
Headright Survey, Texarkana, Bowie County, Texas, being a portion of Xxxxx
Street, all of Lots 1 & 2 and a portion of Xxx Xx. 0, Xxxxx Xx. 0, Xxxxxx
Addition to the City of Texarkana, Bowie County, Texas, according to the plat
thereof recorded in Volume 244, Page 323 of the Plat Records of Bowie County,
Texas, and being more particularly described by metes and bounds as follows:
BEGINNING at an iron pipe for corner at the Southwest corner of said Lot No. 1,
said point being in the East right-of-way line of Xxxxxx Street;
THENCE North 88 deg. 36 min. East, with the South lines of said Xxx Xx. 0, 0 &
0, 000.00 feet to an iron pipe for corner;
THENCE North 01 deg. 06 min. West, 197.86 feet to an iron pipe for corner on the
North right-of-way line of said Xxxxx Street, same being the South right-of-way
line of Interstate Highway No. 30; THENCE South 88 deg. 54 min. West, with the
North right-of-way line of said Xxxxx Street, same being the South right-of-way
line of said I-30, 145.00 feet to an iron pipe for corner on the East
right-of-way line of said Xxxxxxx Street;
THENCE South 01 deg. 06 min. East, with the East right-of-way line of said
Xxxxxx Street, 198,62 feet to the Point of Beginning and containing 0.6599 acre
of land, more or less.
EXHIBIT "B"
1. All exterior signs which shall be erected by Tenant shall be placed flush
with the wall of the leased building, and may not extend above or below the
front of the building,
2. The design, type, anal location of all signs to be erected by Tenant must be
approved in writing by Landlord.
3. Landlord will not approve any flashing, neon type signs, nor any signs which
are lighted by separate exterior lights.
4. Tenant may display the signage and lettering on the front door of the demised
premise, relevant to Tenant's business.
5. All interior signs that may be placed in a window with the intent of being
viewed from outside shall be subject to the above conditions. ,
