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EXHIBIT 10.1
LEASE
This Lease made and executed this 7th day of December, 1992 by and
between H. Xxxxx Xxxxxxx, married, hereinafter referred to as "Lessor" and The
Savings Bank, an Ohio corporation, hereinafter referred to as "Lessee",
WITNESSETH:
The Lessor does hereby let and lease unto the Lessee the Pythian Castle
building on North Court Street, in the City of Circleville, Ohio, and being the
entire first, second and third floors and basements of said building, said
premises bearing street numbers 114, 118, and 000 Xxxxx Xxxxx Xxxxxx,
Xxxxxxxxxxx, Xxxx, bounded and described as follows: See attached Exhibit A.
The parties hereto specifically agree that this Lease shall remain in
full force and effect for a period of five (5) years, commencing on the 1st day
of January, 1993, and terminating on the 31st day of December 1997, yielding and
paying therefore, during the term aforesaid, the total rent of Ninety Thousand
Dollars ($90,000.00), payable in equal monthly installments, each in the amount
of One Thousand Five Hundred Dollars ($1,500.00), payable on the 1st day of
January, 1993, and a like amount on the 1st day of each month thereafter until
the expiration of the terms herein set forth.
The parties hereto specifically agree that Lessee shall have an
exclusive option to renew this lease for three (3) five (5) year periods, the
first five (5) year period to cover calendar years 1998 through 2002, the second
five (5) year period to cover calendar years 2003 through 2007, and the third
(3rd) five (5) year period to cover calendar years 2008 through 2012, with
monthly rental during the first five (5) year option period to be One Thousand
Eight Hundred Dollars ($1,800.00) per month; and with monthly rental during the
second five (5) year option period to be Two Thousand One Hundred Sixty Dollars
($2,160.00) per month, and with monthly rental during the third five (5) year
option period to be Two Thousand Five Hundred Ninety Two Dollars ($2,592.00).
Said Lessee shall give Lessor written notice of Lessee's intention to
renew for the first option period no later than July 1, 1997 and no later than
July 1, 2002 for the second option period, and no later than July 1, 2007 for
the third option period.
The Lessee and Lessor further covenant and agree as follows, to-wit:
1. That Lessee has assumed and knows the condition of said premises and
received the same in good order and repair, and that no representations as to
the condition and repair thereof have been made by Lessor or Lessor's Agents;
and that Lessee will keep said premises in good repair and will keep the
premises and appurtenances in a clean, safe and healthy condition according to
the Circleville City ordinances, laws of the State of Ohio, and the direction of
any public officer during the terms of this Lease at Lessee's own expense; and
will without injury thereto, remove snow and ice from areas contiguous to said
premises.
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2. That the Lessee will use and occupy said premises and appurtenances
in a careful, safe and proper manner, and will not permit any structural changes
of the demised premises except by the prior written consent of Lessor which
consent shall not be unreasonably withheld. All alterations and additions to
said premises shall remain for the benefit of the Lessor unless otherwise
provided in said written consent.
3. That the Lessee will pay for all water, electricity, gas or other
energy sources used as utilities by Lessee commencing January 1, 1993, on the
premises. Lessee will also pay all minor repairs and maintenance on said
building including any filter changing, light bulbs, and other minor repair
items. Lessee shall also pay for any and all painting or carpeting desired by
Lessee during the term of this Lease on the interior of said building. Lessee
further agrees to pay for and forever hold the Lessor harmless from any and all
trash removal and snow removal during the term of this Lease. Lessor covenants
and agrees to maintain the roof and exterior of said building and the building
structure during the full term of this Lease, and Lessee shall maintain the
heating and air conditioning units servicing said building. The Lessor shall
also be responsible for all maintenance and repair of exterior surface areas
being concrete and asphalt driving and parking areas. The Lessee shall be
responsible for and shall repair all plumbing and electrical repairs.
4. That if Lessee defaults in the payment of rent or any part thereof,
or in the performance of any of its covenants or agreements hereunder, and such
default shall have continued in the event of non-payment of rent, for forty-five
(45) days after it shall become due and without demand made therefore, this
Lease shall terminate upon written notice from the Lessor to the Lessee, and the
Lessor shall be entitled to take any and all eviction procedures necessary.
5. That Lessee will deliver up and surrender to the Lessor possession
of the premises hereby leased upon the expiration of this Lease or its
termination in any way in a good condition and repair as the same shall be at
the commencement of said term, loss by ordinary wear and tear and decay only
excepted.
6. That Lessor will at all times after the execution of this Lease
carry fire and extended coverage insurance on the building. Lessee covenants and
agrees to carry insurance on any and all contents located in the leased
premises.
7. Lessee covenants and agrees that it will protect and save and keep
the Lessor harmless and indemnified against and for any penalty or damage or
charges imposed for any violation of any law or ordinance, whether occasioned by
the neglect of the Lessee or those holding under Lessee and that Lessee will at
all times protect, indemnify and save and keep harmless the Lessor against and
from all claims, loss, cost damage or expense arising out of or from any
accident or other occurrence on or about the demised premises causing injury to
any person or property whomsoever or whatsoever, and will protect, indemnify,
save and keep harmless the Lessor 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 provisions of this Lease. Lessor shall
indemnify and save harmless the Lessee, from any and all EPA liens, or liens to
any source, resulting from known or unknown substances being stored, leaked, or
contaminating the soil, air or any other item, resulting from the storage of,
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use of, or location of any harmful substance used by Lessors, or lessor's
agents, or Lessee prior to the execution of this Lease.
8. Lessee agrees that at its own cost and expense, it will procure and
continue in force general liability insurance covering any and all claims for
injuries to persons occurring in, upon or about the demised premises during the
term of this Lease, due to Lessee's negligence, such insurance at all times to
be in an amount not less than Three Hundred Thousand Dollars ($300,000.00) for
injury to persons per incident. Such insurance shall be written with a company
or companies authorized to engage in the business of general liability insurance
in the state in which the demised premises are located, and there shall be
delivered to the Lessor customary insurance certifications evidencing such paid
up insurance. In the event Lessee fails to furnish such policies, the Lessor may
obtain such insurance and the premium on such insurance shall be deemed
additional rent to be paid by the Lessee unto the Lessor upon demand.
9. That in the event any improvements located on the leased premises
shall be more than fifty percent (50%) destroyed by fire, flood, act of God, or
other casualty, or by termites or other natural causes, either Lessor or Lessee
upon written notice to the other party may cancel and terminate this Lease. In
the event of partial destruction, if the Lessee desires, all rent and other sums
payable to Lessor hereunder shall xxxxx in the same ratio as the area of the
improvements rendered unusable thereby bears to the total improvements. In the
event of total destruction of improvements or of partial destruction which in
the judgment of the Lessee shall make it impractical to use the demised
premises, all rent and other sums payable by Lessee hereunder shall xxxxx from
the date of destruction until thirty (30) days after the day of restoration of
the improvements is completed and accepted by Lessee in writing or until the
date upon which the restored area of the improvements is capable of being used,
whichever is earlier. If the leased premises is less than fifty percent (50%)
destroyed by fire, flood, act of God, or other casualty, or by termites or other
natural causes, Lessor shall as soon as practical, repair same.
10. That all of Lessee's personal property of any kind or description
which may at any time be in the demised premises shall be at Lessee's sole risk
or at the risk of those claiming under Lessee, and Lessor shall not be liable
for any damage to said property or loss suffered by the business or occupation
of Lessee caused by water from any source whatsoever or from the bursting,
overflowing, leaking of sewer or steam pipes or from the heating or plumbing
fixtures or from electric wires or from gas or odors caused in any manner
whatsoever, except negligence on the part of the Lessor, or by theft.
11. That except as otherwise provided herein with regard to notices, if
the Lessor defaults in the performance of any of its covenants or agreements
hereunder and such default shall have continued for thirty (30) days after
notice thereof shall have been given to the Lessor by the Lessee, the Lessor not
having taken, within thirty (30) days, measures to correct such default, this
Lease shall terminate upon notice from Lessee to the Lessor.
12. This Lease and covenants and agreements hereunder contained shall
be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns.
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13. And Lessor covenants and agrees with said Lessee that said Lessee
paying the rents and observing and keeping the covenants of this Lease on
Lessee's part to be kept, shall lawfully, peaceably, and quietly hold and occupy
said premises during said terms, without any hindrance or molestation by said
Lessor.
14. Lessee shall keep the leased premises, and restrooms, clear of all
trash and refuse, and shall provide its own janitorial service.
15. Lessee shall make no major alterations or additions in or to said
premises without prior written consent of Lessor; Lessee shall permit the Lessor
or agents to enter upon said premises at all reasonable times to examine or to
make any repairs which Lessor may see fit to make.
16. Lessee shall keep the sidewalks and parking areas adjacent to said
premises free from ice and snow, and Lessee shall have the right to assign this
Lease or sublet the premises or any part thereof without the consent of Lessor.
Lessee shall further be responsible for the maintenance, upkeep and installation
of any and all signs located upon the leased premises.
17. Lessee shall pay any and all real estate taxes levied against the
leased property, during the initial term, and all extensions thereof.
18. The parties hereto specifically understand and agree that the vault
and the vault door are the property of the Lessee, and shall remain so, even at
the termination of this Lease at the end of the initial term, or at the end of
any extension thereof.
19. Lessee shall be responsible for any and all interior repairs and
maintenance, and shall be responsible for the repair, maintenance and painting
of the exterior front of the first floor only fronting on Court Street, with all
other exterior, structural, and roof repairs to be at the Lessor's sole expense.
20. Lessee shall further be granted the right to park one (1) vehicle
on the east side of the leased premises, during the full term of this Lease or
any extension thereof.
21. Lessee shall be responsible for exterior maintenance and repair for
the first floor only fronting xxxx Xxxxx Xxxxxx. All other exterior maintenance,
repair and painting shall be the responsibility of Lessor.
IN WITNESS WHEREOF, THIS Lease has been duly executed under seal as of
the date and year first above written.
/s/ Xxxxxx X. Xxxxxx /s/ H. Xxxxx Xxxxxxx
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Xxxxxx X. Xxxxxx H. Xxxxx Xxxxxxx, Lessor
/s/ Xxxxx X. Xxxxxxxxx /s/ Xxxxx X. Xxxxxxx
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Xxxxx X. Xxxxxxxxx Xxxxx X. Xxxxxxx, Lessor
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THE SAVINGS BANK, LESSEE
/s/ Xxxxxx X. Xxxxxx /s/ Xxxxxxx X. Xxxx
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Xxxxxx X. Xxxxxx BY: Xxxxxxx X. Xxxx, President
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STATE OF OHIO
COUNTY OF PICKAWAY, SS;
On this 7th day of December, 1992, before me, a Notary Public in and
for said County and State, personally came the within named H. Xxxxx Xxxxxxx and
Xxxxx X. Xxxxxxx, his wife, Lessors and acknowledged the signing of the
foregoing Lease to be a free and voluntary act and deed.
Witness my official seal and signature on the day last above mentioned.
/s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx, Notary Public
State of Ohio, Lifetime Commission
Per O.R.C. Section 147.03
STATE OF OHIO
COUNTY OF PICKAWAY, SS:
On this 7th day of December, 1992, before me, a Notary Public in and
for said County and State, personally came the within named The Savings Bank, an
Ohio corporation, by Xxxxxxx X. Xxxx, its President, Lessee, and acknowledged
the signing of the foregoing Lease to be a free and voluntary act and deed.
Witness my official seal and signature on the day last above mentioned.
/s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx, Notary Public
State of Ohio, Lifetime Commission
Per O.R.C. Section 147.03
This instrument prepared by: YOUNG, XXXXXX & XXXX
Attorneys at Law
Circleville, Ohio
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