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Home My WebLink AboutAction Garage Builders, Inc. - business property lease - 7.10.2006 t� '7- L t pw -'AD • LEASE-BUSINESS PROPERTY (Revised-1-87) Form 164-B1 THIS AGREEMENT,made and entered into on this 21 St day of June ,2o-.2-6 ,by and between CitV of Waterloo ("Landlord"),whose address,for the purpose of this lease,is: 715 Mulberry Street (Street and Number) Waterloo Iowa 50703 (City) (State) (Zip Code) and Action Garage Builders, Inc- - Bob Huff ('Tenant"),whose address for the purpose of this lease is: (Street and Number) (City) (State) (Zip Code) The parties agree as follows: 1. PREMISES AND TERM. Landlord leases to Tenant the following real estate,situated in Black Hawk County,Iowa: 327 W. 3rd Street together with all improvements thereon,and all rights,easements and appurtenances thereto belonging,for a term beginning on the 21 st day of June ,20 Q§and ending on the day of ,20upon the condition that Tenant performs as provided in this lease. 2. RENT. Tenant agrees to pay Landlord as rent,$ _,5 Aper month, in advance,commencing on the 218t day of June ,20-0 and on the----!_St day of each month thereafter,during the term of this lease.Tenant shall also pay:. all Utilities All�ums shall be paid at the address of Landlord,or at such other place as Landlord may designate in writing.Delinquent payments shall draw interest at q per annum. 3. POSSESSION. Tenant shall be entitled to possession on the first day of the lease term,and shall yield possession to Landlord at the termination of this lease. SHOULD LANDLORD BE UNABLE TO GIVE POSSESSION ON SAID DATE,TENANT'S ONLY DAMAGES SHALL BE A PRO RATA ABATEMENT OF RENT. 4. USE. Tenant shall use the premises only for building of garage walla and nther anti on garage activities. 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 THOSE NOT APPLICABLE)(roof)(exterior walls)(foundation)(sewer)(plumbing)(heating)(wiring) (air conditioning)(plate glass)(windows and window glass)(parking area)(driveways)(sidewalks)ptBCdFiffiatlll�lt8Vt9gpgDl¢40(aCtlE60[aUMgj' except when the same are occasioned by the misuse or negligence of Tenant,its agents,employees or invitees.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 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: n/a 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. PROPERTY INSURANCE. (a)Tenant will not do or omit the doing of any act which would invalidate any Insurance,or increase the Insurance rates in force on the premises. (b) To the extent of all insurance collectible for damages to property,and to the extent permitted by their respective policies of fire and extended coverage insurance, each party hereby waives rights of subrogation against the other,regardless of fault. 10. INDEMNITY AND LIABILITY.INSURANCE.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 prop- erty,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.Tenant will procure and maintain liability insurance in amounts not less than $ 1 ,000,000 for any person Injured, $ 1,000,000 for any one accident,and with the limits of$ 1 -000"000 for property damage,which names Landlord as an insured. 11. 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 U6781Ly--_30—days after such notice;and both parties shall thereafter be released from all future obligations hereunder. 12. 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. 13. TERMINATION UPON DEFAULT OF TENANT. Upon default in payment of rent,abandonment of the premises,or upon any other default by Tenant of the terms of this lease,this lease may,at the option of Landlord,and without prejudice to any other rights or remedies afforded Landlord by law,be cancelled and forfeited;PROVID- ED, HOWEVER,before an such cancellation and forfeiture, Landlord shall give Tenant notice specifying the default,or defaults,and stating that this Lease will be can- celled and forfeited days after notice,unless such default or defaults are remedied within such period. . 14. LANDLORD'S LIEN AND SECURITY INTEREST. (a)Said Landlord shall have,in addition to the lien given bylaw,a security interest as provided by the Uniform Commercial Code of Iowa,upon all personal property and all substitutions therefor,kept and used on said premises by Tenant.Landlord may proceed at law or in equity With any remedy provided by low or by this lease for the recovery of rent,or for termination of this lease because of Tenant's default in its performance.(b)If spouse is not a Tenant,then the execution of this instrument by the spouse shall be for the sole purpose of creating a security interest on personal property and waiving rights of home- stead,rights of distributive share,and exemptions. 16. SIGNS. Landlord,during the last ninety_2Q_ days of this lease,shall have the right to maintain on the premises either or both a"For Rent"or"For Sale" sign.Tenant will permit prospective tenants or buyers to enter and examine the premises. 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. EXECUTED IN DUPLICATE,on the day and year first above written. LANDLORD TENANT mayor ' MATT PARROT d SONS CO..WATERLOO IOWA