Exhibit 10.3
INDUSTRIAL BUILDING LEASE
THIS LEASE is made as of the l st day of August, 2004 between
CENTERPOINT PROPERTIES TRUST,; a Maryland real estate investment trust
("LANDLORD"), and THE KNOCKOUT GROUP, INC., a corporation ("TENANT").
ARTICLE I- LEASE TERMS
SECTION 1.1. DEFINITIONS. In addition to the other terms, which are elsewhere
defined in this Lease, the following terms and phrases, whenever used in this
Lease shall have the meanings set forth in this Section 1.1, and only such
meanings, unless such meanings are expressly contradicted, limited or expanded
elsewhere herein.
-------------------------------------------------------------------------------
PERIOD ANNUAL BASE RENT MONTHLY BASE RENT
-------------------------------------------------------------------------------
August 1, 2004 -
September 30, 2004 Partial Year $20,625.00
-------------------------------------------------------------------------------
October 1, 2004 -
January 31, 2005 Partial Year $37,125.00
-------------------------------------------------------------------------------
February 1, 2005 -
July 31, 2005 Partial Year $66,720.64
-------------------------------------------------------------------------------
August 1, 2005 -
July 31, 2006 $820,663.84 $68,388.65
-------------------------------------------------------------------------------
August 1,2006--
July 31, 2007 $841,180.44 $70,098.37
Y
-------------------------------------------------------------------------------
B. COMMENCEMENT DATE: August 1, 2004.
C. INITIAL MONTHLY RENT ADJUSTMENT DEPOSIT: $6,583.34
----------------------------------------
(i) Initial Tax Deposit: $5,166.67
(ii) Initial Expense Deposit: $1,416.67
D. LANDLORD'S BROKER: CB Xxxxxxx Xxxxx.
E. LANDLORD'S MAILING ADDRESS:
0000 Xxxxx Xxxx
Xxx Xxxxx, Xxxxxxxx 00000
Attention: Xx. Xxxx X. Xxxxx
F. SECURITY DEPOSIT: $100,000.00. Tenant shall increase to $150,000.00 by
October 1, 2004 and to $175,000.00 by February 1, 2005
G. TENANT'S BROKER: CB Xxxxxxx Xxxxx.
TENANT'S BROKER: CB Xxxxxxx Xxxxx.
TENANT'S MAILING ADDRESS:
The Knockout Group 000 X.
Xxxxxxx Xxxxxx Xxxxxxx, Xxxxxxxx 00000
Attention: Xx. Xxxx Xxxxxxx
TENANT'S PROPORTION:
April 1, 2004 - September 30, 2004: 30.9%
October 1, 2004 - January 31, 2005: 55.6%
February 1, 2005 - Termination Date 100.00%
J. Term: The thirty-six (36) month term, commencing as of the Commencement Date
and ending on the Termination Date, unless sooner terminated by Landlord as
provided hereunder.
K. TERMINATION DATE: -(March) . [July] 31, 2007. Use: Contract packaging and
related lawful uses.
SECTION 1.2. - SIGNIFICANCE OF DEFINITIONS. Each reference in this Lease
to any of the Definitions contained in Section 1.1 of this Article shall be
deemed and construed to incorporate all of the terms provided under each such
Definition.
SECTION 1.3. ENUMERATION OF EXHIBITS. The exhibits in this Section and
attached to this Lease are incorporated in this Lease by this reference and are
to be construed as a part of this Lease.
Exhibit "A" Premises
Exhibit "B" Legal Description
Exhibit "C" Form of Estoppel Certificate
TENANT'S MAILING ADDRESS:
-------------------------------------------------
The Knockout Group
000 X. Xxxxxxx Xxxxxx
Xxxxxxx, Xxxxxxxx 00000
Attention: Xx. Xxxx Xxxxxxx
TENANT'S PROPORTION:
-------------------------------------------------
April 1, 2004 - September 30, 2004: 30.9%
October 1, 2004 - January 31, 2005: 55.6%
February 1, 2005 - Termination Date 100.00%
J. TERM: The thirty-six (36) month term, commencing as of the Commencement
Date and ending on the Termination Date, unless sooner terminated by Landlord as
provided hereunder.'
K. Termination Date: July 31, 2007.
L. Use: Contract packaging and related lawful uses.
SECTION 1.1 SIGNIFICANCEOF DEFINITIONS. Each reference in this Lease to
any of the Definitions contained in Section 1.1 of this Article shall be deemed
and construed to incorporate all of the terms provided under each such
Definition.
SECTION 1.3. ENUMERATION OF EXHIBITS. The exhibits in this Section and
attached to this Lease are incorporated in this Lease by this reference and are
to be construed as a part of this Lease.
Exhibit "A" Premises
Exhibit "B" Legal Description
Exhibit "C" Form of Estoppel Certificate
ARTICLE II-- PREMISES
SECTION 2.1. LEASE. Landlord, for and in consideration of the rents herein
reserved and of the covenants and agreements herein contained on the part of
Tenant to be kept, observed and performed, does by these presents, lease to
Tenant, and Tenant hereby leases from Landlord, the demised premises
("PREMISES"), being depicted in the plan attached hereto as EXHIBIT "A"
including the right to use the parking areas and loading docks shown on EXHIBIT
"A The Premises shall be delivered to Tenant in three phases (i) that portion of
the Premises marked as "Phase 1" on EXHIBIT "A" shall be delivered as of the
Commencement Date; (ii) that portion of the Premises marked as "Phase 2" on
EXHIBIT "A" shall be delivered on or before October 1, 2004; and (iii) an
additional approximately 71,747 square feet shall be delivered on or before
February 1, 2005. The Premises are located in the building ("BUILDING") located
at 000, Xxxxxxxxx, Xxxxxxxxx, Xxxxxxxx, which Building is located on the land
("Land") legally described on EXHIBIT "B" attached hereto. The Land and Building
are sometimes collectively referred to as the "Project". The lease of the
Premises shall be subject to, and Tenant shall at all times during the Term
comply with, all covenants, conditions, agreements, easements, encumbrances and
restrictions of record as of the date hereof affecting the, Project
(collectively "RESTRICTIONS"), provided Landlord has delivered to Tenant true,
correct and complete copy; of any such
LANDLORD:
IN WITNESS WHEREOF, the parties have executed this Lease as of the date
set forth above.
BY: /S/ XXXX XXXXXXX
--------------------------
NAME: XXXX XXXXXXX
TITLE: CHAIRMAN/ CEO
ATTEST:
BY: /S/ XXXXX XXXXX
--------------------------
NAME: XXXXX XXXXX
TITLE: CHIEF ADMIN OFFICER
LANDLORD:
CENTERPOINT PROPERTIES TRUST, a Maryland real estate investment trust
By:
Name:
Title:
By:_______________________
Name
