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HomeMy WebLinkAboutThe Bowlers Group - Lease Agreement - 1/21/2020THE IOWA STATE BAR ASSOCIATION Official Form No, 165 Martin M. Petersen FOR THE LEGAL EFFECT OF THE USE OF THIS FORM, CONSULT YOUR LAWYER W z LEASE 7 L.. 1) THIS LEASE, made City of Waterloo, Iowa - BUSINESS PROPERTY -SHORT FORM and entered into this 2 day ofJ (, f.*O i 20i , by and between ("Landlord"), whose address Waterloo, Iowa 50703 for the purpose of this lease is: 715 Mulberry Street, and The Bowlers Group II L.L.C. ("Tenant"), whose address for the 50701 purpose of this Lease is: 2508 University Avenue, Waterloo, Iowa follows: TERM. Landlord leases to Tenant the following real estate, situated in Iowa: Exhibit "A". thereon, and all rights, easements and appurtenances thereto belonging, February 1, 2020 , and ending on itsx February 29, 2020 The parties agree as 1. PREMISES AND Black Hawk County, See attached together with all improvements fora term beginning anti= upon the condition that Tenant 2. RENT. Tenant agrees commencing ornthte February performs as provided in this lease. to pay Landlord as rent $ 1 00 per month, in advance 1, 2020 pandxorxtbecxxxxatagtakearixataatixtbereafter4oduring iberier fes aas t 108}tx All sums shall be paid designate in writing. Delinquent 3. POSSESSION. Tenant shall yield possession to Landlord TO GIVE POSSESSION ON ABATEMENT OF RENT. 4. USE. Tenant shall rtamtpa roontttrahalkbeg>r®rc Icae ititaat at the address of Landlord, or at such other place payments shall draw interest at 5 % per xT'enerttnisstt x as Landlord may annum. day of the lease term, and BE UNABLE BE A PRO RATA shall be entitled to possession on the first at the termination of this lease. SHOULD LANDLORD SAID DATE, TENANTS ONLY DAMAGES SHALL use the premises only for parking lot • 5. CARE AND MAINTENANCE. (a) Tenant takes the premises as is, except as herein provided. (b) Landlord shall keep the following in good repair: (strike inapplicable words) (teel)x(e; lot >GIs)(t # )C a e4x(laitaalsing)o(4aeating)x(wiriag airziaorditaemnag)o(pI liarsp(wintlowt aariacitx (parking area) (driveways) (sidewalks)texterforxtenapatimp(interbrAluoarztintA Landlord shall not be liable for failure to make any repairs or replacements unless Landlord fails to do so within a reasonable time after written notice from Tenant. (c) Tenant shall maintain the premises in a reasonable safe, serviceable, clean and presentable condition, and except for the repairs and replacements provided to be made by Landlord in subparagraph (b) above, shall make all repairs, replacements and improvements to the premises, INCLUDING ALL CHANGES, ALTERATIONS OR ADDITIONS ORDERED BY ANY LAWFULLY CONSTITUTED GOVERNMENT AUTHORITY DIRECTLY RELATED TO TENANT'S USE OF THE PREMISES. Tenant shall make no structural changes or alterations without the prior written consent of Landlord. Unless 5 The Iowa Slate Bar Assodeiion 2008 165 LEASE - BUSINESS PROPERTY - SNORT FORM IOWADOCSO Revised September 2008 otherwise provided, and if the premises include the ground floor, Tenant agrees to remove all snow and ice and other obstructions from the sidewalk on or abutting the premises. 6. UTILITIES AND SERVICES. Tenant shall pay for all utilities and services which may be used on the premises, except the following to be furnished by Landlord: Landlord shall not be liable for damages for failure to perform as herein provided, or for any stoppage for needed repairs or for improvements or arising from causes beyond the control of Landlord, provided Landlord uses reasonable diligence to resume such services. 7. SURRENDER. Upon the termination of this lease, Tenant will surrender the premises to Landlord in good and clean condition, except for ordinary wear and tear or damage without fault or liability of Tenant. Continued possession, beyond the term of this Lease and the acceptance of rent by Landlord shall constitute a month -to -month extension of this lease. 8. ASSIGNMENT AND SUBLETTING. No assignment or subletting, either voluntary or by operation of law, shall be effective without the prior written consent of Landlord, which consent shall not unreasonably be withheld. 9. INSURANCE. A. PROPERTY INSURANCE. Landlord and Tenant agree to insure their respective real and personal property for the full insurable value. Such insurance shall cover losses included in the special form causes of loss (formerly all risks coverage). To the extent permitted by their policies the Landlord and Tenant waive all rights of recovery against each other. B. LIABILITY INSURANCE. Tenant shall obtain commercial general liability insurance in the amounts of $ 1, 000 , 000.00 each occurrence and $ 2 , 000 , 000.00 annual aggregate per location. This policy shall be endorsed to include the Landlord as an additional insured. 10. LIABILITY FOR DAMAGE. Each party shall be liable to the other for all damage to the property of the other negligently, recklessly or intentionally caused by that party (or their agents, employees or invitees), except to the extent the loss is insured and subrogation is waived under the owner's policy. 11. INDEMNITY Except for any negligence of Landlord, Tenant will protect, defend, and indemnify Landlord from and against any and all loss, costs, damage and expenses occasioned by, or arising out of, any accident or other occurrence causing or inflicting injury or damage to any person or property, happening or done in, upon or about the premises, or due directly or indirectly to the tenancy, use or occupancy thereof, or any part thereof by Tenant or any person claiming through or under Tenant. 12. DAMAGE. In the event of damage to the premises, so that Tenant is unable to conduct business on the premises, this lease may be terminated at the option of either party. Such termination shall be effected by notice of one party to the other within 7 days after such notice; and both parties shall thereafter be released from all future obligations hereunder. 13. MECHANICS' LIENS. Neither Tenant, nor anyone claiming by, through, or under Tenant, shall have the right to file any mechanic's lien against the premises. Tenant shall give notice in advance to all contractors and subcontractors who may furnish, or agree to furnish, any material, service or labor for any improvement on the premises. 14. DEFAULT, NOTICE OF DEFAULT AND REMEDIES. EVENTS OF DEFAULT A. Each of the following shall constitute an event of default by Tenant: (1) Failure to pay rent when due; (2) failure to observe or perform any duties, obligations, agreements, or conditions imposed on Tenant pursuant to the terms of the lease; (3) abandonment of the premises. "Abandonment" means the Tenant has failed to engage in its usual and customary business activities on the premises for more than fifteen (15) consecutive business days; (4) institution of voluntary bankruptcy proceedings by Tenant; institution of involuntary bankruptcy proceedings in which the Tenant thereafter is adjudged a bankruptcy; assignment for the benefit of creditors of the interest of Tenant under this lease agreement; appointment of a receiver for the property or affairs of Tenant, where the receivership is not vacated within ten (10) days after the appointment of the receiver. (2) NOTICE OF DEFAULT B. Landlord shall give Tenant a written notice specifying the default and giving the Tenant ten (10) days in which to correct the default. If there is a default (other than for nonpayment of a monetary obligation of Tenant, including rent) that cannot be remedied in ten (10) days by diligent efforts of the Tenant, Tenant shall propose an additional period of time in which to remedy the default. Consent to additional time shall not be unreasonably withheld by Landlord. Landlord shall not be required to give Tenant any more than three notices for the same default within any 365 day period. REMEDIES C. In the event Tenant has not remedied a default in a timely manner following a Notice of Default, Landlord may proceed with all available remedies at law or in equity, including but not limited to the following: (1) Termination. Landlord may declare this lease to be terminated and shall give Tenant a written notice of such termination. In the event of termination of this lease, Landlord shall be entitled to prove claim for and obtain judgment against Tenant for the balance of the rent agreed to be paid for the term herein provided, plus all expenses of Landlord in regaining possession of the premises and the reletting thereof, including attorney's fees and court costs, crediting against such claim, however, any amount obtained by reason of such reletting; (2) Forfeiture. If a default is not remedied in a timely manner, Landlord may then declare this lease to be forfeited and shall give Tenant a written notice of such forfeiture, and may, at the time, give Tenant the notice to quit provided for in Chapter 648 of the Code of Iowa. 1ZySIGNS.x>banclicaztjodapingthedststcxxxxxxatayscedxtitriexleasepsibehexigittocmertabstoc onatlecp seers# ttaaa3or)RetaezikIR aSetetkstg cTenecrtwaitkpe it S tts tenerrts mrc bwersiannteveradremanfineAhaismrnises. 16. NOTICES AND DEMANDS. All notices shall be given to the parties hereto at the addresses designated unless either party notifies the other, in writing, of a different address. Without prejudice to any other method of notifying a party in writing or making a demand or other communication, such notice shall be considered given under the terms of this lease when it is deposited in the U.S. Mail, registered or certified, properly addressed, return receipt requested, and postage prepaid. 17. PROVISIONS BINDING. Each and every covenant and agreement herein contained shall extend to and be binding upon the respective successors, heirs, administrators, executors and assigns of the parties hereto. 18. CERTIFICATION. Tenant certifies that it is not acting, directly or indirectly, for or on behalf of any person, group, entity or nation named by any Executive Order or the United States Treasury Department as a terrorist, "Specially Designated National and Blocked Person" or any other banned or blocked person, entity, nation or transaction pursuant to any law, order, rule or regulation that is enforced or administered by the Office of Foreign Assets Control; and it is not engaged in this transaction, directly or indirectly on behalf of, or instigating or facilitating this transaction, directly or indirectly on behalf of, any such person, group, entity or nation. Tenant hereby agrees to defend, indemnify and hold harmless Landlord from and against any and all claims, damages, losses, risks, liabilities and expenses (including attorney's fees and costs) arising from or related to any breach of the foregoing certification. 19. ADDITIONAL PROVISIONS. Tenant must remove snow at it's expense during and one week before the term of this Lease. CITY OF WATERLOO, IOWA THE BOWLERS GROUP II, L.L.C. By: By: LANDLORD TENANT (3) EXHIBIT "A" That part of the Southwest 'A of the Northeast 'A of Section 36, Township 89 North, Range 13 West of the 5 P.M., Black Hawk County, Iowa, bounded as follows: Beginning at a point in line 739.8 feet North of and parallel with the South line of the Northeast '/4 of said Section, which point is 215.7 feet West of the East line of the Southwest'' /a of the Northeast 'A of said Section; thence West along said parallel line, 149.6 feet; thence South along a line parallel with the East line of the Southwest 'A of the Northeast 'A of said Section, to its intersection with a line 634.89 feet North of and parallel with the South line of the Northeast 'A of said Section; thence East along said last described parallel line, 149.6 feet, to a point 215.7 feet West of the East line of the Southwest ''A of the Northeast 'A of said Section; thence North to the point of beginning. AND All that part of the East IA of the Southwest 'A of the Northeast' 'A of Section 36, Township 89 North, Range 13 West of the 5'h P.M., Black Hawk County, Iowa, lying North of a line 739.8 feet North of and parallel with the South line of said Southwest'' /a of the Northeast 'A of Section 36, except the West 300 feet thereof, except the East 100 feet thereof and except the North 419 feet thereof.