[Letterhead of Tilly Realty Associates]
QUAKER FABRIC CORP OF FALL RIVER
C/O ▇▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇
▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇
December 9, 1997
The following is the lease agreement between TILLY REALTY ASSOCIATES (lessor)
and QUAKER FABRIC CORP OF FALL RIVER (lessee).
LEASED SPACE: approximately 23408 square feet on the third floor of the West
Mill, located at Fr. DeValles Blvd., Fall River, MA.
OCCUPANCY DATE: Lessee to begin occupying the space on or about December 13,
1997.
LENGTH OF LEASE: Lease will be for a period of one (1) year commencing December
15, 1997.
TERMS: Effective December 15, 1997, the rent will be $2438.34 per month.
EXTENSION OF LEASE: Lessee has option to extend lease for an additional term of
1 year at a rate not to exceed 10% above the first term.
RENT CHARGE: Rent is due and payable on or before the first of every month in
advance.
ELECTRIC CHARGE: Electric will be metered and invoiced by ▇▇▇▇▇▇ on the first of
every month according to the rates supplied by Eastern Utilities, with a minimum
charge of $50.00 per month. The electric is due upon receipt of the invoice.
"Bills rendered for which payment has not been received within 25 days from the
date rendered, shall be considered past due and subject to a late payment charge
of 1 1/2% per month (18% annually) on any unpaid balance." "If it becomes
necessary to discontinue service for non-payment", all past due amounts and "a
$10.00 reconnection charge must be paid before service is restored and lessor
may not be able to restore service immediately."(1)
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(1) "EASTERN UTILITIES"
FIRST MONTH'S RENT: $2438.34 due prior to occupancy.
DEPOSIT REQUIRED:
damage deposit $2438.34
electric deposit 50.00
door lock deposit 25.00
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total $2513.34*
*due prior to occupancy
PERCENTAGE OF SPACE OCCUPIED BY LESSEE: Lessee occupies 10% of the total square
footage of the property located at Fr. DeValles Blvd., Fall River, MA.
HEAT, INSURANCE, PROPERTY TAXES, WATER, AND SEWER CHARGES: Lessee will be
invoiced 10% of any increases in the costs of heat, insurance, property taxes,
water, or sewer (each figured individually) over and above the base year. The
lessor shall provide to the demised premises water for sanitary purposes and
fire sprinklers only.
BASE YEARS:
HEAT = 1996/1997
Heat Season = October 15 through April 15
INSURANCE = 1997/1998
PROPERTY TAXES = assessed January 1, 1997
WATER = 9/96 - 9/97
SEWER = 9/96 - 9/97
SNOW REMOVAL: Lessee will be invoiced 10% of any increases in the cost of snow
removal over and above the base year of 1993/1994.
ELEVATOR CHARGES:Lessee will be invoiced 10% of any increases in the cost of
maintaining the elevator over and above $1200.00 per year. Maintaining includes
inspections, maintenance, repairs, and electric.
INSURANCE (PUBLIC AND PROPERTY): Lessee will be responsible for own Public
Liability Insurance in the minimum amount of coverage of $100,000.00/$300,000.00
for liability of bodily injury and $50,000.00 for property damage liability. The
coverage must be with an insurance company licensed to do business in
Massachusetts. ▇▇▇▇▇▇ must indemnify Lessor and hold entirely harmless for all
losses and claims and confirm to Lessor that they are co-named on the policy.
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NOTIFICATION OF INSURANCE COVERAGE: Lessee should have insurance company or
agent send the necessary Certificate of Insurance with Lessor being listed as
co-named on the policy.
NO CERTIFICATE OF INSURANCE: In the case of no Certificate of Insurance on file,
lessor will invoice lessee annually.
INSURANCE (CONTENTS): Lessee's inventory, machinery, and equipment are not
covered by ▇▇▇▇▇▇'s insurance. Lessee should secure own insurance on contents in
case of fire, theft, vandalism, water damage, etc...
ALTERATIONS: Lessee shall not remodel, paint or make any structural changes to
the premises, nor shall the lessee attach or remove any fixtures without
lessor's prior written permission. Lessee hereby has permission to make the
alterations listed on Attachment A.
LEASEHOLDS: Lessee may move Lessor's lights, electrical wiring, vents, fans,
boxes and switches, fire extinguisher, alarms, and metal floor plates which are
on the leased premises at time of lessee's occupancy, as lessee deems necessary
for the conduct of it's business. Upon vacating the premises, the lessee must
leave the structural integrity of the premises as found prior to ▇▇▇▇▇▇'s
occupancy.
PLUMBING: The water closets and waste pipes shall not be used for any purpose
other than those for which they were constructed, nor shall any sweepings,
rubbish, or any other improper articles be thrown into them. Any damage to the
building caused by the negligent misuse of such equipment by the lessee shall be
paid by you (lessee).
ELECTRICAL WIRING: Lessor will supply wiring and meter to leased space. Lessee
is responsible for any and all electrical installation required in leased space.
Electrical work must be approved and installed by Lessor.
ELECTRIC LIGHT BULBS: Lessor shall supply leased space with necessary electric
light bulbs at the time of occupancy. ▇▇▇▇▇▇ agrees to furnish replacements and
install thereafter.
HOUSEKEEPING: No trash or flammable materials is to be left in the lessee's area
or in the hallways.
HALLWAYS: No receptacles, boxes, trash, cartons or other articles or
obstructions shall be placed in the hallways or other common areas or
passageways.
RUBBISH REMOVAL: Lessee is responsible for own rubbish removal. If not removed,
lessor has the right to evict and/or charge lessee for it's removal.
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NO SMOKING: There is to be NO SMOKING in the building except in designated
areas.
FIRE HAZARDS: Lessee shall not permit any hazardous act which might cause fire
or that will increase the rate of insurance on the premises. If the premises
become in-operable by reason of fire not caused by ▇▇▇▇▇▇'s negligence, the
rental herein shall be suspended until the same has been restored to an operable
condition or at the lessee's option, the lease shall be terminated. The lessor
is not obligated to rebuild or restore the premises.
ENVIRONMENTAL INDEMNIFICATION: Tenant shall defend, with counsel reasonably
approved by ▇▇▇▇▇▇▇▇, all actions against Landlord with respect to, and pay,
protect, indemnify and save harmless, to the extent permitted by law, Landlord
from and against any and all Costs and Expenses arising out of, or claimed to be
arising out of any "Environmental Conditions" (as defined hereinafter) by the
lessee. Without limiting the foregoing, the term Costs and Expenses as used in
this Section shall include remedial or response costs, expert consultant fees
and expenses, and bodily injury or property damage. Tenant and Landlord agree
that "response costs", as defined in the "Environmental Laws" (as defined
hereinafter), shall not be deemed consequential damages.
For purposes of this Section, "Environmental Laws" shall mean any federal, state
and/or local statute, ordinance, bylaw, code, rule and/or regulation, now or
hereafter enacted, pertaining to any aspect of the environment or human health,
including, without limitation, Chapter 21C, Chapter 21D, and Chapter 21E of the
General Laws of Massachusetts and the regulations promulgated by the
Massachusetts Department of Environmental Protection ("DEP"), the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. - 9601
et seq., the Resource Conservation and Recovery Act of 1976, 42 U.S.C. - 6901 et
seq., the Federal Water Pollution Control Act and the Federal Clean Air Act.
For purposes of this Section, "Hazardous Substances" shall mean any "oil",
"hazardous material... .. hazardous waste", or "hazardous substance"
(collectively referred to herein as "Hazardous Substances"), as the foregoing
terms (in quotations) are defined in the Environmental Laws.
For purposes of this Section, "Environmental Conditions" shall mean any
"disposal", "release" or "threat of release" of Hazardous Substances on, from or
about the Premises or storage of Hazardous Substances on, from or about the
Premises, other than in compliance with the Environmental Laws.
Notwithstanding the foregoing anything in this Lease to the contrary, ▇▇▇▇▇▇▇▇
agrees that Tenant shall not be responsible for Environmental Conditions to the
extent that such Environmental Conditions (a) exist as of the commencement of
the term of this Lease or (b) result from (i) the actions or omissions of
Landlord
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either before the commencement of this Lease, during the term hereof or after
the termination of this Lease or (ii) the actions or omissions of any preceding
or succeeding tenant or owner of the Premises. ▇▇▇▇▇▇▇▇ further agrees that
Tenant shall have no obligation to Landlord under this Lease for Environmental
Conditions arising from the actions or omissions of any person or entity who or
which is not an agent, employee or invitee of Tenant.
Landlord shall defend, with counsel reasonably approved by ▇▇▇▇▇▇, all actions
against Tenant, with respect to, and pay, protect, indemnify and save harmless,
to the extent permitted by law, Tenant from and against any and all Costs and
Expenses of any nature arising out of, or as claimed to be arising out of, any
Environmental Conditions to the extent that such Environmental Conditions (a)
exist as of the commencement of the term of this Lease or (b) result from (i)
the actions or omissions of Landlord either before the commencement of this
Lease, during the term hereof or after the termination of this Lease or (ii) the
actions or omissions of any preceding or succeeding tenant or owner of the
Premises. ▇▇▇▇▇▇ agrees that Landlord shall not be responsible for any
Environmental Conditions to the extent that such Environmental Conditions result
from the actions or omissions of Tenant, or Tenant's agents, employees or
invitees. Tenant further agrees that Landlord shall have no obligation to Tenant
under this Lease for Environmental Conditions arising during the term of this
Lease from the actions or omissions of any person or entity who or which is not
an agent, employee or invitee of Landlord.
SUBLETTING AND/OR RETAILING: Lessee may sublet and/or retail on the premises
providing lessee receives lessor's prior written consent, which consent shall
not be unreasonably withheld. As a condition of subletting and/or retailing,
such other persons shall be bound by the terms of this agreement and shall
acknowledge such fact by executing a copy of this agreement. ▇▇▇▇▇▇ agrees to be
bound by this agreement until the term shall expire and the security deposit
shall not be released until the expiration of the term.
USE AND OCCUPANCY: Lessee shall use the premises in such a manner as to comply
with all local, county, and state laws and shall not use the premises or permit
it to be used for any disorderly or unlawful purpose or in any manner offensive
to any other tenants in the building.
DAMAGES TO PREMISES: ▇▇▇▇▇▇ agrees to pay for repair of the premises when caused
by ▇▇▇▇▇▇'s negligent misuse or that of lessee's employees or visitors.
VACATING THE PREMISES: A thirty day notice to vacate the premises is required by
both parties, unless the lessee vacates at the end of the term. This notice must
be in writing. Also, the space must be left broom clean.
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ABANDONMENT: If during the term of ▇▇▇▇▇▇'s occupancy, prior to the expiration
of this agreement, lessee deserts, vacates, or abandons the leased space, the
lessor has the right to enter and repossess the premises.
ATTORNEY'S FEES: If we (lessor) are compelled to incur any expenses including
reasonable attorney's fees in instituting and prosecuting any action or
proceeding by reason of any default of yours (lessee) hereunder, the sum or sums
so paid by us (lessor) with all interests, costs, and damages shall be deemed to
be additional rent hereunder and shall be due from you (lessee) to us (lessor)
on the first (1st) day of the month following the incurring of such respective
expenses, only if the lessor prevails in such litigation.
REPRESENTATIONS AND APPLICATIONS: We (lessor) enter into this agreement with you
(lessee) on the basis of the representations contained in the application which
is made part of the agreement, and, in the event any of the representations
contained in the application shall be found to be materially misleading,
incorrect or untrue, we (lessor) shall have the right to cancel this agreement
and repossess the premises.
LATE CHARGE: Lessee will be invoiced 2% interest charge on any monies over 30
days past due.
REMOVAL OF LESSEE PROPERTY: If after violation of any provisions of this
agreement, or upon the expiration of this agreement, you (lessee) move out and
fail to remove your (lessee) property being kept in the leased space by your
(lessee) volition, then the property shall be deemed abandoned and we (lessor)
shall have the right to remove it and will not be responsible for its security.
Also, lessor has the right to sell the abandoned property for expenses incurred.
REMEDY FOR BREACH: If for any reason you (lessee) breach this agreement, we
(lessor) shall have the right to initiate any action to evict lessee from the
premises and to collect any damages that shall become due us (lessor) for this
action.
DAMAGE DEPOSIT: The full damage deposit shall be returned to the lessee within
thirty days of vacating the premises and returning the keys, except under the
following conditions: The lessee must provide a forwarding address to the
lessor. ▇▇▇▇▇▇ agrees to allow lessor to deduct from the security deposit , the
following charges if they apply: (1) Any indebtedness otherwise due the lessor.
(2) Unpaid late charges. (3) Attorney's fees and any court costs incurred by a
breach of any provisions of this lease by the lessee, or enforcement of any of
the terms of this agreement by lessor. (4) The cost of any repairs,
replacements, redecorating and/or refurnishing of the premises, or any fixtures,
systems, caused by "other" than reasonable wear. (5) A reasonable cleaning
expense, in the event that the lessee fails to leave premises in a clean
rentable condition. IT IS SPECIFICALLY UNDERSTOOD AND AGREED THAT
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THE LESSEE MAY NOT APPLY THE DAMAGE DEPOSIT TOWARDS RENTAL PAYMENTS.
Call if you have any questions.
Sign below and return both copies, ▇▇▇▇▇▇ will then sign and return one to
lessee for record keeping.
If the agreement is not returned signed to the lessor, within 30 days, lessor
will consider it valid.
AGREED AND ASSENTED TO:
Sincerely,
TILLY REALTY ASSOCIATES
/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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▇▇▇▇▇ ▇. ▇▇▇▇▇▇
QUAKER FABRIC CORP OF FALL RIVER
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FED ID#▇▇-▇▇▇▇▇▇▇
/s/ ▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇▇
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▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇▇
Manager
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