EXHIBIT 10 (ag)
LEASE
AGREEMENT made this 1st day of August, 1997, to be effective as of
September 1, 1997, between ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ and wife, ▇▇▇▇ ▇▇▇▇▇, both of the Town
of ▇▇▇▇▇▇▇▇, County of Providence, State of Rhode Island (hereinafter called the
"Lessors") and Deli King, Inc., of ▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ in the Town of West Warwick,
County of Kent, State of Rhode Island (hereinafter called the "Lessee").
W I T N E S S E T H:
1. The Lessors hereby lease to Lessee and Lessee hires from
Lessors, upon and subject to the terms, covenants, conditions
and provisions hereinafter set forth, the premises at:
That certain business premises known as ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇, in the Town of ▇▇▇▇▇▇▇▇, County of Providence, State
of Rhode Island presently occupied by Conti's Gourmet Sausage.
2. The date of the commencement of the term of this Lease is to
be September 1, 1997.
3. The term of this Lease shall be two (2) years terminating on
September 1, 1999, unless this Lease has been renewed.
4. Lessors hereby warrant that they and no other person or
corporation have the right to lease the premises hereby
demised. Lessee shall have peaceful and quiet use and
possession of the premises without hindrance on the part of
the Lessors and Lessors shall warrant and defend such peaceful
and quite use and possession against the claims of all persons
claiming by, through or under the Lessors.
5. Lessee shall pay to Lessors as rental for the premises the sum
of EIGHT HUNDRED FIFTY AND 00/100 ($850.00) DOLLARS per month
payable on the first (1st) day of each month during the
continuance of this Lease. Lessors hereby acknowledge receipt
from Lessee the sum of EIGHT HUNDRED FIFTY and 00/100
($850.00) DOLLARS to be held as collateral security for the
payment of any rentals and other sums of money for which
Lessee shall become liable to Lessors under this Lease, and
for faithful performance by Lessee of all other covenants and
agreements made therein. At the termination of this Lease, or
any renewal thereof, the Lessors shall return to Lessee the
full amount of said security deposit less any sums required to
be paid by Lessee to Lessors for the payment of rent or for a
any sum which Lessors may expend or incur by reason of the
Lessee's default of any terms of this Lease.
6. Lessee shall keep in good order and condition and shall be
responsible for repairs and maintenance of the interior
portion of the demised premises and shall make such repairs as
are necessary to keep same in good working order. Lessee shall
also be obligated to maintain and repair the hot water heater
and hanging air-cooling system, which shall remain the
property of the Lessors. Lessee shall also be responsible for
the maintenance and replacement of all glass windows.
All repairs made on the interior of the demised premises are
to be at the sole expense of the Lessee.
7. Lessee shall use the demised premises only for the purpose of
the manufacture and distribution of meat and poultry products
at wholesale. Lessee agrees not to compete with the deli
presently on the premises by selling at retail.
8. All trade fixtures, appliances and equipment owned by Lessee
and installed in the demised premises shall remain the
property of the Lessee and shall be removable from time to
time and also at the expiration of the term of this Lease, any
extended period or other termination thereof.
9. Lessee shall place all trash in the trash container that is
presently on the property. In the event that a larger trash
container is needed or more frequent removal of the trash is
needed because of the volume generated by Lessee, Lessee
agrees to pay the additional cost of said larger container or
additional removals.
10. Lessee shall pay for snow removal for ingress and egress to
his portion of the demised premises.
11. Lessee will not alter the premises without first obtaining
Lessors' written approval of such alterations. Permanent
improvements made by Lessee shall become the property of the
Lessors and shall remain upon the premises.
12. Lessors shall have the exclusive right to use all or any part
of the roof, cellar and the exterior walls of the premises for
any purpose.
13. Lessors will provide and maintain the necessary mains and
conduits to bring water, gas and electricity to the premises
by the Lessee, whether supplied by Lessors, public utility or
public authority, or any other person, firm or corporation.
14. Lessee will not do or suffer to be done or keep or suffer to
be kept anything in, upon or about the premises that will
contravene Lessor's policies insuring against loss or damage
by fire or other hazards. If anything done, omitted to be done
or suffered to be done by Lessee kept or suffered by Lessee to
be kept in, about or upon the premises shall cause the rate of
fire or other insurance on the premises to be increased beyond
the minimum rate from time to time applicable to the premises
for the use and purposes permitted under this Lease or to such
other property for the use and uses made thereof, Lessee shall
pay the amount of such increase promptly upon Lessors' demand.
15. If the premises shall be damaged by fire, the elements,
unavoidable accident or other cause but are not thereby
rendered untenantable in whole or in part, Lessors shall
promptly, at their own expense, cause such damage to be
repaired and the rent to be abated until the repairs by
completed. If, by reason of such occurrence, the premises
shall be rendered wholly untenantable, this Lease, and the
tenancy hereby creased, shall cease as of the date of such
occurrence.
16. Lessee shall, at their own expense, during the term hereof
maintain and deliver to the Lessors public liability and
property damage insurance policies with respect to the demised
premises in which both Lessors and Lessee shall be named as
insured with a combined single
limit of FIVE HUNDRED THOUSAND AND 00/100 DOLLARS for
injuries, death and/or property damage.
17. Lessee has the option to renew this Lease under the same terms
and conditions except as to rent for an additional two (2)
year period commencing September 1, 1999 and terminating on
September 1, 2001.
18. In the event that Lessee exercises the option to renew this
Lease for an additional two (2) year period commencing
September 1, 1999, Lessee shall pay to Lessors, as rental for
the premises, the sum of EIGHT HUNDRED SEVENTY-FIVE and 00/100
($875.00) DOLLARS per month, payable on the first (1st) day of
each month during the continuance of this Lease. Lessee shall
pay to Lessors an additional TWENTY-FIVE and 00/100 ($25.00)
DOLLARS to increase the security deposit to EIGHT HUNDRED
SEVENTY-FIVE and 00/100 ($875.00) DOLLARS to be held as
collateral security for the payment of any rentals or other
sums of money for which Lessee might become liable to Lessors
under this Lease and for the faithful performance by Lessee of
all other covenants and agreements made herein. At the
termination of this renewal period, Lessors shall return to
Lessee the full amount of said security deposit less any sums
required to be paid by Lessee to Lessors for the payment of
rent for any sum which Lessors may expend or incur by reason
of the Lessee" default of any terms of this Lease.
19. Lessors and Lessee agree that in the event the United States
Department of Agriculture determines that the physical
structure of the leased premises is not in compliance with the
rules and regulations of the United States Department of
Agriculture, so that the rights, privileges and benefits as
granted by the United States Department of Agriculture in
License NO. 19141 are terminated, then and in that event,
Lessors may terminate this Lease upon furnishing proof of said
termination or cancellation because the physical structure of
the building is not in compliance with the rules and
regulations of the United States Department of Agriculture.
20. All notices from Lessee to Lessors required or permitted by
the provisions of this Lease shall be in writing and sent by
certified mail to lessors at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇.
All notices from Lessors to Lessee so required or permitted
shall be in writing and sent certified mail to Lessee at ▇
▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇.
21. This Lease shall be construed under the laws of the State of
Rhode Island.
Lease to be executed as of the date and year first above written.
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇.
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Witness ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
/s/ ▇▇▇▇ ▇▇▇▇▇
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Witness ▇▇▇▇ ▇▇▇▇▇
DELI KING, INC.
BY: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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WITNESS Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: President
STATE OF RHODE ISLAND
COUTY OF PROVIDENCE
In that on the 2nd day of September, 1997, before me personally appeared
▇▇▇▇▇▇▇▇ ▇▇▇▇▇ and ▇▇▇▇ ▇▇▇▇▇ to me known and known by me to be the parties
executing the foregoing; and they acknowledged said instrument, by them
executed, to be their free act and deed.
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Notary Public
STATE OF RHODE ISLAND
COUNTY OF PROVIDENCE
In that on the 2nd day of September, 1997, before me personally appeared ▇▇▇▇▇▇
▇. ▇▇▇▇▇, the President of Deli King, Inc., to me known and known by me to be
the party executing the foregoing instrument and he acknowledged said
instrument, by him executed, to be his free act and deed and the free act and
deed of Deli King. Inc.
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Notary Public
MODIFICATION OF LEASE
AGREEMENT made this 1st day of November, 1997, to be effective as of
January 1, 1998, between ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ and wife, ▇▇▇▇ ▇▇▇▇▇, both of the Town
of ▇▇▇▇▇▇▇▇, County of Providence, State of Rhode Island (hereinafter called the
"Lessors") and Deli King, Inc., of ▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ in the Town of West Warwick,
County of Kent, State of Rhode Island (hereinafter called the "Lessee").
W I T N E S S E T H:
WHEREAS, Lessors have leased to Lessee a certain business premises
Known as ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ in the Town of ▇▇▇▇▇▇▇▇, County of
Providence, State of Rhode Island, formerly occupied by Conti's Gourmet Sausage;
and
WHEREAS, Lessee has expressed a desire to lease additional space
adjacent to that premises formerly occupied by Conti's Gourmet Sausage; and
WHEREAS, Lessors own and control the additional space that Lessee
desires to lease; and
WHEREAS, said additional space contains a walk-in freezer,
so-called; and
WHEREAS, partitions have been installed providing security of the
business premises presently occupied by Lessee and other partitions have been
removed allowing access to said additional space, the parties agree to
modification of the lease as follows:
1. Paragraph 1 shall include the additional premises as part of
the property being leased, Paragraph 2 and 3 shall remain
unchanged.
2. Paragraph 5 shall provide for an additional rental of ONE
HUNDRED and 00/100 ($100.00) DOLLARS increasing the rent from
EIGHT HUNDRED FIFTY and 00/100 ($850.00) DOLLARS per month to
NINE HUNDRED FIFTY and 00/100 ($950.00) DOLLARS per month
commencing on January 1, 1998 and continuing until September
1, 1999.
All other terms of the lease shall remain the same except for
Paragraph 18. In the event the Lessee exercises the option to
renew the lease for an additional two (2) year period
commencing September 1, 1999, the rent shall be NINE HUNDRED
SEVENTY-FIVE and 00/100 DOLLARS per month and Lessee shall pay
to Lessors ONE HUNDRED TWENTY-FIVE and 00/100 ($125.00)
DOLLARS to increase the security deposit to NINE HUNDRED
SEVENTY-FIVE and 00/100 ($975.00) DOLLARS.
IN WITNESS WHEREOF, Lessors and Lessee have
executed this Modification of Lease this ________day of
November 1997.
/s/▇▇▇▇▇▇▇▇ ▇▇▇▇▇
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▇▇▇▇▇▇▇▇ ▇▇▇▇▇
/s/ ▇▇▇▇ ▇▇▇▇▇
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▇▇▇▇ ▇▇▇▇▇
DELI KING, INC.
By: /s/▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
PRESIDENT
STATE OF RHODE ISLAND
COUNTY OF PROVIDENCE
In Johnston on the 1st day of November, 1997, before me personally appeared the
above named to me known and known by me to be the parties executing the
foregoing instrument and they acknowledged said instrument, by them executed, to
be their free act and deed.
/s/
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NOTARY PUBLIC