EXHIBIT 10.40
INDUSTRIAL BUILDING LEASE
Term of Lease: Beginning May 8, 2002 / Ending June 30, 2007
Monthly Rent: See Rider Attached
Date of Lease: April 25, 2002
Location of Premises: 000 Xxxxx Xxxxx, Xxxx Xxxx, XX
Purpose: Office, Warehousing and Distribution of Commercial Laundry Equipment
except Laundry Chemicals
-------------------------------------------------------------------------------
LESSEE LESSOR
--------------------------------------------------------------------------------
Name: Xxxx Xxxxx Equipment Co., Inc. Name: Kensington Partners, Ltd.
Owner of Record
--------------------------------------------------------------------------------
Address: 000 Xxxxx Xxxxx Address: 000 Xxxxx 00, Xxxxx 000
--------------------------------------------------------------------------------
City: Wood Dale, IL 60191 City: Bensenville, IL 60106
--------------------------------------------------------------------------------
In consideration of the mutual covenants and agreements herein stated, Lessor
hereby leases to Lessee and Lessee hereby leases from Lessor solely for the
above purpose the premises designated above (the "Premises"), together with the
appurtenances thereto, for the above Term.
LEASE COVENANTS AND AGREEMENTS
1. RENT. Lessee shall pay Lessor or Xxxxxx's agent as rent for the Premises the
sum stated above, monthly in advance, until termination of this lease, at
Lessor's address stated above or such other address as Lessor may designate in
writing.
2. CONDITIONS AND UPKEEP OF PREMISES. Lessee has examined and knows the
condition of the Premises and has received the same in good order and repair,
and acknowledges that no representations as to the condition and repair thereof
have been made by Lessor, or his agent, prior to or at the execution of this
lease that are not herein expressed; Lessee will keep the Premises including all
appurtenances, in good repair, replacing all broken glass with glass of the same
size and quality as that broken, and will replace all damaged plumbing fixtures
with others of equal quality, and will keep the Premises, including adjoining
alleys and landscaping abutting the Premises, in a clean and healthful condition
according to the applicable municipal ordinances and the direction of the proper
public officers during the term of this Lease at Lessee's expense, and will
without injury to the roof, remove all snow and ice from the same when
necessary, and will remove the snow and ice from the sidewalk and parking areas
abutting the Premises; and upon the termination of this lease, in any way, will
yield up the Premises to Lessor, in good condition and repair, loss by fire and
ordinary wear excepted, and will deliver the keys therefor at the place of
payment of said rent.
3. LESSEE NOT TO MISUSE: SUBLET: ASSIGNMENT. Lessee will not allow Premises to
be used for any purpose that will increase the rate of insurance thereon, nor
for any purpose other than that hereinbefore specified, and will not load floors
with machinery or goods beyond the floor load rating prescribed by applicable
municipal ordinances, and will not allow the Premises to be occupied in whole,
or in part, by any other person, and will not sublet the same, or any part
thereof, nor assign this lease without in each case the written consent of the
Lessor first had, and Lessee will not permit any transfer by operation of law of
the interest in Premises acquired through this lease, and will not permit
Premises to be used for any unlawful purpose, or for any purpose that will
injure the reputation of the building or increase the fire hazard of the
building, or disturb the tenants or the neighborhood, and will not permit the
same to remain vacant or unoccupied for more than ten consecutively days; and
will not allow any signs, cards or placards to be posted, or placed thereon, nor
permit any alteration of or addition to any of the Premises, except by written
consent of Lessor; all alterations and additions to the Premises shall remain
for the benefit of Lessor unless otherwise provided in the consent aforesaid.
4. MECHANIC'S LIEN. Lessee will not permit any mechanic's lien or liens to be
placed upon the Premises or any building or improvement thereon during the term
hereof, and in case of the filing of such lien Lessee will promptly pay same. If
default in payment thereof shall continue for thirty (30) days after written
notice thereof from Lessor to the Lessee; the Lessor shall have the right and
privilege at Lessor's option of paying the same or any portion thereof without
inquiry as to the validity thereof, and any amounts so paid, including expenses
and interest, shall be so much additional indebtedness hereunder due from Lessee
to Lessor and shall be repaid to Lessor immediately on rendition of bill
therefor.
5. INDEMNITY FOR ACCIDENTS.
A. Lessee covenants and agrees that he will protect and save and keep the
Lessor forever harmless and indemnified against and from any penalty or
damages or charges imposed for any violation of any laws or ordinances,
whether occasioned by the neglect of Lessee or those hold under Lessee,
and that Lessee will at all times protect, indemnify and save and keep
harmless the Lessor against and from any and all loss, cost, damage or
expense, arising out of or from any accident or other occurrence on or
about the Premises, causing injury to any person or property whomsoever or
whatsoever and will protect, indemnify and save and keep harmless the
Lessor against and from any and all claims and against and from any and
all loss, cost, damage or expense arising out of any failure of Lessee in
any respect to comply with and perform all the requirements and provision
hereof.
X. Xxxxxx covenants and agrees that he will protect and save and keep the
Lessee forever harmless and indemnified against and from any penalty or
damages or charges imposed for any violation of any laws or ordinances
occasioned by any act or negligence of Lessor, its agents, contractors or
employees. Further, Lessor will at all times protect, indemnify and save
and keep harmless the Lessee against and from any and all loss, cost,
damage or expense arising out of or from any accident or other occurrence
occasioned by any act or negligence of Lessor, its agents, contractors or
employees causing injury to any person or property. Further, Xxxxxx will
protect and indemnify and save and keep harmless the Lessee against and
from any and all claims and against and from all loss, cost, damage or
expense arising out of any failure of Lessor to comply with and perform
the requirements of Lessor as set forth in this lease.
6. NON-LIABILITY OF LESSOR. Except as provided by Illinois stature, Lessor shall
not be liable for any damage occasioned by failure to keep the Premises in
repair, nor for any damage done or occasioned by or from plumbing, gas, water,
sprinkler, steam or other pipes or sewerage or the bursting, leaking or running
of any pipes, tank or plumbing fixtures, in, above, upon or about Premises or
any building or improvement thereon nor for any damage occasioned by water, snow
or ice being upon or coming through the roof, skylights, trap door or otherwise,
nor for any damages arising from acts or neglect of any owners or occupants of
adjacent or contiguous property. Prior to the required roof repairs, the
condition of the roof will be an exception to this section.
7. WATER, GAS AND ELECTRICAL CHARGES. Lessee will pay, in addition to the rent
above specified, all water rents, gas and electric light and power bills taxed,
levied or charged on the Premises, for and during the time for which this lease
is granted, and in case said water rents and bills for gas, electric light and
power shall not be paid when due, Lessor shall have the right to pay the same,
which amounts so paid, together with any sums paid by Lessor to keep the
Premises in a clean and healthy condition, as above specified, are declared to
be so much additional rent and payable with the installment of rent next due
thereafter.
8. KEEP PREMISES IN REPAIR. Lessor shall not be obliged to incur any expense
for repairing any
2
improvements upon said demised premises or connected therewith, and the Lessee
at his own expense will keep all improvements in good repair (injury by fire, or
other causes beyond Xxxxxx's control excepted) as well as in a good tenantable
and wholesome condition, and will comply with all local or general regulations,
laws and ordinances applicable thereto, as well as lawful requirements of all
competent authorities in that behalf. Xxxxxx will, as far as possible, keep said
improvements from deterioration and falling temporarily out of repair. If Xxxxxx
does not make repairs as required hereunder promptly and adequately, Lessor may
but need not make such repairs and pay the costs thereof, and such costs shall
be so much additional rent immediately due from and payable by Lessee to Lessor.
9. ACCESS TO PREMISES. Lessee will allow Lessor free access to the Premises,
provided twenty-four hour notice to Lessee, for the purpose of examining or
exhibiting the same or to make any repairs, or alterations thereof which Lessor
may see fit to make and will allow to have placed upon the Premises at all times
notice of "For Sale" and "To Rent", and will not interfere with the same.
10. ABANDONMENT AND RELETTING. If Xxxxxx shall abandon or vacate the Premises,
or if Xxxxxx's right to occupy the Premises be terminated by Lessor by reason of
Lessee's breach of any of the covenants herein, the same may be re-let by Lessor
for such rent and upon such terms as Lessor may deem fit, subject to Illinois
statute; and if a sufficient sum shall not thus be realized monthly, after
paying the expenses of such re-letting and collecting to satisfy the rent hereby
reserved, Xxxxxx agrees to satisfy and pay all deficiency monthly during the
remaining period of this lease.
11. HOLDING OVER. Lessee will, at the termination of this lease by lapse of time
or otherwise, yield up immediate possession to Lessor, and failing so to do,
will pay as liquidated damages, for the whole time such possession is withheld,
the sum of two hundred eighty dollars ($280.00) per day; but the provisions of
this clause shall not be held as a waiver by Lessor of any right of re-entry as
hereinafter set forth; nor shall the receipt of said rent or any part thereof,
or any other act in apparent affirmance of tenancy, operate as a waiver of the
right to forfeit this lease and the term hereby granted for the period still
unexpired, for a breach of any of the covenants herein.
12. EXTRA FIRE HAZARD. There shall not be allowed, kept, or used on the Premises
any inflammable or explosive liquids or materials save such as may be necessary
for use in the business of the Lessee, and in such case, any such substances
shall be delivered and stored in amount, and used, in accordance with the rules
of the applicable Board of Underwriters and statutes and ordinances now or
hereafter in force.
13. DEFAULT BY XXXXXX. If default be made in the payment of the above rent, or
any part thereof, or in any of the covenants herein contained to be kept by the
Lessee, Lessor may at any time thereafter at this election declare said term
ended and reenter the Premises or any part thereof, with or (to the extent
permitted by law) without notice or process of law, and remove Lessee or any
persons occupying the same, without prejudice to any remedies which might
otherwise be used for arrears of rent, and Lessor shall have at all times the
right to distrain for rent due, and shall have a valid and first lien upon all
personal property which Lessee now owns, or may hereafter acquire or have an
interest in, which is by law subject to such distraint, as security for payment
of the rent herein reserved. Monetary defaults shall occur on the 10/th/ day,
non-monetary defaults will occur after the 30/th/ day.
14. NO RENT DEDUCTION OR SET OFF. Lessee's covenant to pay rent is and shall be
independent of each and every other covenant of this lease. Xxxxxx agrees that
any claim by Xxxxxx against Xxxxxx shall not be deducted from rent nor set off
against any claim for rent in any action.
15. RENT AFTER NOTICE OR SUIT. It is further agreed, by the parties hereto, that
after the service of notice or the commencement of a suit or after final
judgment for possession of the Premises, Lessor may receive
3
and collect any rent due, and the payment of said rent shall not waive or affect
said notice, said suit, or said judgment.
16. PAYMENT OF COSTS. Lessee will pay and discharge all reasonable costs,
attorney's fees and expenses that shall be made and incurred by Lessor in
enforcing the covenants and agreements of this lease.
17. RIGHTS CUMULATIVE. The rights and remedies of Lessor under this lease are
cumulative. The exercise or use of any one or more thereof shall not bar Lessor
from exercise or use of any other right or remedy provided herein or otherwise
provided by law, nor shall exercise nor use of any right or remedy by Lessor
waive any other right or remedy.
18. FIRE AND CASUALTY. In case the Premises shall be rendered untenantable
during the term of this lease by fire or other casualty, Lessor at his option
may terminate the lease or repair the Premises within 60 days thereafter. If
Lessor elects to repair, this lease shall remain in effect provided such repairs
are completed within said time. If Lessor shall not have repaired the Premises
within said time, then at the end of such time the term hereby created shall
terminate. If this lease is terminated by reason of fire or casualty as herein
specified, rent shall be apportioned and paid to the day of such fire or
casualty.
19. SUBORDINATION, ATTORNMENT, NONDISTURBANCE, AND ESTOPPEL. This lease is
subordinate to all mortgages which may now or hereafter affect the Premises.
This Lease and Xxxxxx's rights are and shall be subject to any mortgage(s) or
trust deed(s) now or hereafter placed by Lessor against the Premises and to any
amendments, modifications or renewals thereof. Lessee shall execute and deliver
within ten (10) days of the request of Lessor or its mortgagee such
acknowledgments or documents as may be requested from time to time in connection
with the financing of the Premises including, without limitation, subordination
and attornment instruments, and estoppel certificates.
Lessee hereby consents in advance to any collateral assignment of the Lease
which Lessor elects, in its sole discretion, to execute, provided that every
such collateral assignment shall provide that the same shall not become
operative except in the event of a default under the note collateralized by this
Lease or under any mortgage securing such note.
If, in connection with the financing of the Premises or any part or component
thereof, any lender shall request reasonable modifications of the Lease that do
not materially increase the obligations or materially and adversely affect the
rights of Lessee under this Lease, Lessee covenants to make such modifications.
If any foreclosure proceedings are initiated by any lender, or a deed in lieu is
granted, Xxxxxx agrees, upon written request of any such lender or any purchaser
at sale, to attorn and pay rent to such party and to execute and deliver any
instruments necessary or appropriate to evidence or effectuate such attornment.
In the event of attornment, no lender shall be: (i) liability for any act or
omission of Lessor, or subject to any offsets or defenses which Lessee might
have against Lessor prior to such lender's becoming Lessor under such
attornment. Subject to the foregoing, any lender shall not disturb the tenancy
of Xxxxxx hereunder provided that Lessee attorn to such lender and fully and
faithfully performs and observes each and every obligation of Lessee hereunder.
20. PLURALS; SUCCESSORS. The words "Lessor" and "Lessee" wherever herein
occurring and used shall be construed to mean "Lessors" and "Lessees" in case
more than one person constitutes either party to this lease; and all the
covenants and agreements contained shall be binding upon, and inure to, their
respective successors, heirs, executors, administrators and assigns and may be
exercised by his or their attorney or agent.
21. SEVERABILITY. Wherever possible each provision of this lease shall be
interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this lease shall be prohibited by or invalid under
applicable law, such provision shall be ineffective to the extent of such
prohibition or invalidity, without
4
validating the remainder of such provision or the remaining provisions of this
lease.
If this instrument is executed by a corporation, such execution has been
authorized by a duly adopted resolution of the Board of Directors of such
corporation.
This lease consists of 6 pages numbered 1 to 6, including a rider consisting of
3 pages, identified by Xxxxxx and Xxxxxx.
IN WITNESS WHEREOF, the parties hereto have executed this instrument this day
and year first above written.
/s/ X. Xxxx Xxxxxx /s/ X. Xxxxxx Xxxxxx (SEAL)
----------------------------------- ---------------------------------
L. Xxxx Xxxxxx X. Xxxxxx Xxxxxx, President
___________________________________ _________________________________(SEAL)
Please print or type name(s) _________________________________(SEAL)
below signature(s)
_________________________________(SEAL)
ASSIGNMENT BY LESSOR
On this _____________________, 20___, for value received, Lessor hereby
transfers, assigns and sets over to ________________________________, all right,
title and interest in and to the above Lease and the rent thereby reserved,
except rent due and payable to __________________________, 20___.
__________________________(SEAL)
__________________________(SEAL)
5
GUARANTEE
On this _________________, 20___, in consideration or Ten Dollars ($10.00) and
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the undersigned Guarantor hereby guarantees the payment of
rent and performance by Xxxxxx, Xxxxxx's heirs, executors, administrators,
successors or assigns of all covenants and agreements of the above Lease.
______________________(SEAL)
______________________(SEAL)
State of Illinois, County of __________________ss.
I, the undersigned, a Notary Public in and for said County, in the State
aforesaid, DO HEREBY CERTIFY that
_____________________________personally known to me to be
the same person _____ whose name _____________ subscribed
to the foregoing instrument, appeared before me this day
in person, and acknowledged that _____ he ____________
signed, sealed and delivered the said instrument as
IMPRESS ________________ free and voluntary act, for the uses and
SEAL purposes therein set forth, including the release and
HERE waiver of right of homestead.
Given my hand and official seal this _______ day of ____,
20__.
Commission expires _________________, 20__ __________________________________
Notary Public
This document was prepared by __________________________________________________
(Name and Address)
Mail to:________________________________________________________________________
(Name and Address)
________________________________________________________________________
(City) (State) (Zip Code)
Or Recorder's Office Box No. ___________________________________________________
Legal Description:
Permanent Real Estate Index Number(s) __________________________________________
Address(es) of Real Estate: ____________________________________________________
6
RIDER ATTACHED TO AND A PART OF INDUSTRIAL
BUILDING LEASE AGREEMENT BETWEEN KENSINGTON
PARTNERS, LTD., LESSOR AND WINK XXXXX EQUIPMENT CO., INC.
AS LESSEE FOR THE PREMISES LOCATED AT 000 XXXXX XXXXX,
XXXX XXXX, XX.
22. RIDER GOVERNS: In the event of any discrepancy between the form portion of
this lease, and the rider, provisions of the rider shall govern.
23. RENT: A. The total minimum base rent reserved in this lease shall be THREE
HUNDRED FIFTY TWO THOUSAND SIX HUNDRED TWENTY-EIGHT AND 88/100 DOLLARS
($352,628.88) payable monthly in advance as follows:
May 8, 2002 - May 31, 2002 $4,300.80 monthly
June 1, 2002 - May 30, 2003 $5,555.27 monthly
June 1, 2003 - May 30, 2004 $5,677.27 monthly
June 1, 2004 - May 30 2005 $5,802.35 monthly
June 1, 2005 - May 30, 2006 $5,930.52 monthly
June 1, 2006 - May 30, 2007 $6,031.93 monthly
B. Said rent shall be paid to LESSOR without deductions or offset and
without notice or demand at LESSOR'S address or to such other person
or at suchother place as LESSOR may from time to time designate in
writing.
X. XXXXXX agrees to pay rent in advance to LESSOR on or before the first
day of each and every month, XXXXXX agrees to pay an additional sum
equal to 10% of the monthly rental as a late charge. Late charges
shall be paid at the time of payment of the next month's rent.
24. TAXES: LESSOR shall pay all taxes levied or assessed against the subject
property before they become delinquent. XXXXXX agrees to pay as additional rent
during the term of this lease or any renewals or extensions thereof any increase
in such taxes over a base tax amount of the fully assessed 2000 tax bill, plus
any legal fees incurred in successfully contesting the Real Estate Tax
Assessment. A copy of the 2000 tax bill is attached hereto for future reference.
At the time a tax bill is received containing increases which are to be paid by
LESSEE, LESSOR will notify LESSEE of the amount due for such yearly increase
plus a prorated portion of the increase for the then current year, which shall
be due within ten (10) days of such notice. LESSEE shall also commence paying
1/12/th/ of such increase as additional monthly rental, which shall be applied
to any increase contained in the next tax bill. Upon termination of the term,
any deficiency in the tax payments made by XXXXXX, based on the most recent
ascertainable taxes, may be deducted from the security deposit to be returned to
LESSEE.
25. INSURANCE: X. XXXXXX agrees to maintain in force at LESSEE'S sole obligation
and expense, insurance coverage on the Premises with minimum coverage of
Bodily Injury
7
($1,000,000.00 each occurrence and $2,000,000.00 aggregate). Property Damage
($500,000.00 each occurrence and $500,000.00 aggregate), and Personal Injury
($1,000,000.00).
Said policy shall be written with an insurance company reasonably satisfactory
to LESSOR and shall contain a provision that it may not be canceled without at
least thirty (30) days written notice to XXXXXX. A Certificate of Insurance
shall be delivered to the LESSOR and shall indicate Kensington Partners, Ltd. as
an additional Insured.
XXXXXX agrees to comply with any and all recommendations of the insurance
company or companies concerning LESSEE'S manner of use of the leased premises so
as to avoid invalidating any insurance policy carried on the premises.
XXXXXX, at its expense, agrees to install portable fire extinguishers, if
necessary on the premises due to LESSEE'S specific business as required by
LESSOR'S insurance companies and/or municipal authorities.
If the use of the premises increases the hazard beyond that contemplated in this
lese, or if as a result of any hazard of the LESSEE'S operations in the demised
premises, the rate or premium on fire or other insurance is raised, the LESSEE
will pay for such increase in cost.
X. XXXXXX shall provide and maintain all peril casualty insurance on subject
property at all times during the term hereof, at LESSOR'S expense.
However, LESSEE shall pay any cost of said casualty insurance in excess
of the current premium (2002 - Base Year) or any increase that is a
result of LESSEE'S use or occupancy of subject property.
26. PERSONAL PROPERTY: XXXXXX is hereby given the right and privilege of
removing all personal property belonging to said XXXXXX at the expiration of the
said lease provided, however, any damage or injury caused to said real estate by
reason of the removal of said personal property shall be repaired by and at the
expense of the LESSEE, normal wear and tear excepted if caused by the conduct of
XXXXXX'S business. Personal property attached to the building shall be removed
only upon XXXXXX'S written consent, which consent shall not unreasonably be
withheld.
27. UTILITY SERVICE: An electric meter, gas meter and water meter are installed
in subject premise. The billing for utilities will be paid by LESSEE directly to
the utility companies.
28. MAINTENANCE: LESSEE shall, at the LESSEE'S sole cost and expense, be
responsible for the normal routine maintenance, repair or replacement of the
following: floor coverings, plumbing fixtures, rodding of all plumbing and sewer
lines within the building, electrical fixtures, light bulbs and ballasts, hot
water heater, hinges, locks, widow and plate glass, window hardware and
mechanisms, dock and garage doors, automatic garage door openers, and heating
and air conditioning systems.
Required costs for the maintenance and replacement of the heating and air
conditioning equipment, above the annual maintenance agreement held by Lessee,
shall be shared equally.
All repairs must be made with materials of the same size and quality as is
existing. If the LESSEE fails to maintain the premises and make the necessary
repairs during the term of this Lease, the
8
LESSOR may make the repairs and charge the LESSEE accordingly.
LESSOR is responsible for maintenance, repair, or replacement of roof and
structural walls unless it is necessitated by the intentional or negligent acts
of the LESSEE, its agents or employees.
At all times during the term of this Lease, LESSEE shall have and keep in force
a maintenance contract (in form and with a contractor satisfactory to LESSOR),
providing for inspection and necessary repairs of heating, air conditioning and
ventilating equipment at least two (2) times per calendar year. Said contract
shall provide that it will not be cancelable by either party thereto, except
upon thirty (30) days written notice to XXXXXX. Copies of the inspection reports
will be submitted to LESSOR within thirty (30) days of inspection.
29. USE: XXXXXX agrees not to store any materials, engage in any activity or
discharge any matter in the air, sewers, or on the property contrary to the laws
and ordinances of the Corporate Municipality or Fire Protection District or
other governmental bodies having authority or jurisdiction and shall hold LESSOR
harmless for any cost involved due to LESSEE'S illegal activity or discharge.
30. SECURITY DEPOSIT: XXXXXX has submitted to LESSOR, ELEVEN THOUSAND SIX
HUNDRED FIFTY FIVE DOLLARS AND 57/100 ($11,655.57) representing an amount equal
to ONE (1) MONTH rent to be held as security deposit plus one month rent in
advance. Security deposit shall secure the faithful performance by XXXXXX of all
of the terms, covenants and conditions for which LESSEE is obligated. Upon
termination of the Lease, LESSOR may apply the security deposit to the cost of
repairing any damage caused by XXXXXX, or to any other amounts due hereunder
from LESSEE to LESSOR, and agrees to return the balance, if any, to LESSEE,
within thirty (30) days of termination of this lease. The security deposit is
not to be considered the last months rent.
31. SNOW REMOVAL & LAWN CARE: LESSEE shall be responsible for snow removal and
lawn maintenance during the term of this lease.
32. XXXXXX'S USE: LESSEE represents and warrants that his intended use shall
comply with all applicable laws, governmental regulations, and the terms of any
enforcement action commenced by any federal, state, regional or local laws
pertaining to air and water quality, hazardous waste, waste disposal and other
environmental matters, including, but not limited to, the Clean Water, Clean
Air, Federal Water Pollution Control, Solid Waste Disposal, Resource
Conservation and Recovery and Liability Acts, and the rules, regulations,
guidelines and ordinances of all applicable federal, state, and local agencies
and bureaus. LESSEE hereby covenants and agrees to indemnify, defend and hold
harmless from and against any claim, action suit, punitive damage or expense
(including, without limitation, attorney's fees), resulting form, arising out
of, or base upon (I) the presence, release, use, generation, discharge, storage,
or disposal of any Hazardous Materials on, under, in or about, or to and from
the property as it relates to LESSSEE'S use, or (II) the violation, or alleged
violation, of any statute, ordinance, order, rule, regulation, permit judgement
or license relating to the use, generation, release, discharge, storage,
disposal or transportation of Hazardous Materials on, under, in or about, or to
or from the property as it relates to LESSEE'S use.
This indemnity shall include, without limitation, any damage, liability, fine,
penalty, punitive damage, cost or expense arising from or out of any claim,
action, suit or proceeding for personal injury
9
(including sickness, disease, or death) tangible or intangible property damage,
compensation for lost wages, business income, profits or other economic loss,
damage to the natural resources or the environment, nuisance, pollution,
contamination, leak spill, release or other adverse effect on the environment.
These environmental representations and indemnification shall survive lease term
for an indefinite period of time.
LESSEE: LESSOR:
/s/ P. Xxxxxx Xxxxxx /s/ Xxxxxx X. Xxxxxxx
----------------------------------- ------------------------------
X. Xxxxxx Xxxxxx Xxxxxx X. Xxxxxxx
Xxxx Xxxxx Equipment Company, Inc. Kensington Partners, Ltd.
10
