COMMERCIAL AND INDUSTRIAL LEASE AGREEMENT
THIS LEASE is made as of August 25 , 1998 between
▇▇▇▇▇▇▇ ▇. Bieber ("Landlord") with an address of
▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇,
and Global Ground Support, LLC,
a North Carolina limited liability company. ("Tenant")
with an address of ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇,
who here by agree as follows:
1. PREMISES. Subject to the covenants and conditions of
this Lease, Landlord leases to Tenant, and Tenant leases from
Landlord, the premises (the "Premises") commonly know and
numbered as ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇ ▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇ of ▇▇▇▇▇▇▇, State of Kansas, and
further described as:
An approximately 112,493 square foot industrial and office
facility. Further identified on attached Exhibit "A",
together with the right of ingress and egress.
2. USE OF PREMISES. The Premises will be used only for:
office, manufacturing, storage and assembly of truck mounted
equipment (collectively, the "Permitted Use")
3. TERM. The term of this Lease (the "Term") is for
three years and no months, commencing one the
first day of September 1998, and ending on the
last day of August, 2001.
4. RENT PAYMENTS. Tenant shall pay to Landlord an
aggregate sum of One Million Sixty-three Thousand Fifty-
eight and 76/100s DOLLARS ($ 1,063,058.76 )
as rent in monthly Installments each due and payable
in advance without notice or demand at Landlord's
above stated address or at any other place Landlord designates in
writing. The first monthly rent installment of $ 29,529.41
will be paid at execution here of and all subsequently monthly
rent Installments will be due on the first day of each
succeeding month during the Term. The amount of each monthly
rent installment will be as follows: $29,529.41
5. SECURITY DEPOSIT. Concurrently with its execution of
this Lease, Tenant shall deliver to Landlord $ 29,529.41 as
security for the performance by Tenant of every covenant and
condition of this Lease (the "Security Deposit"). Said Security
Deposit may be co-mingled with other funds of Landlord and shall
bear no interest. If Tenant shall default with respect to any
covenant or condition of this Lease, including, but not the
payment of rent, Landlord may apply the whole or any part of such
Security Deposit to the payment of any sum in default or any sum
which Landlord may be required to spend by reason of Tenant's
default. If any portion of the Security Deposit is so applied,
Tenant, upon demand by Landlord, will deposit cash with Landlord
in an amount sufficient to restore the Security Deposit to its
original amount. Should Tenant comply with all of the covenants
and conditions of this Lease, the Security Deposit of any balance
thereof shall be returned to Tenant promptly after expiration of
the term thereof.
19
6. POSSESSION AT BEGINNING OF TERM. Landlord shall use
due diligence to give possession as nearly as possible at the
beginning of the Term. Rent shall ▇▇▇▇▇ pro rata for the period
of any delay in giving Tenant possession, but the Term will not
be extended as a result of such delay. Tenant will make no other
claim against Landlord for delay in obtaining possession.
7. PROPERTY INSURANCE. Tenant shall comply with all
Insurance regulations so the lowest property damage Insurance and
liability insurance rates may be obtained; and nothing shall be
done or kept in or on the Premises by Tenant which will cause an
increase in the premium for any such insurance on the Premises or
on any building of which the Premises are a part of on any
contents located therein, over the rate usually obtained for the
proper use of the Premises permitted by this Lease or which will
cause cancellation or make void any such Insurance. Tenant will
pay to Landlord, as additional rent the insurance premium
covering the Premises within thirty (30) days after receipt of
Landlord's billing statement and demand for payment of the same.
The amount payable by Tenant under this section will be pro rated
on a per diem basis for the partial years, if any, in which this
Lease commences and terminates.
Tenant shall maintain, at all times during the Term,
adequate insurance on its personal property used, stored or kept
in the Premises.
8. INDEMNITY AND LIABILITY INSURANCE. Tenant shall at all
times indemnify, defend and hold Landlord harmless from all loss,
liability, costs, damages and expenses that may occur or be
claimed with respect to any person or persons, or property on or
about the Premises or to the Premises resulting from any act done
or omission by or through Tenant, its agents, employees, invitees
or any person on the Premises by reason of Tenant's use or
occupancy or resulting from Tenant's non-use or possession of
said property and any and all loss, cost, liability or expense
resulting therefrom. Tenant shall maintain, at all times during
the Term, comprehensive general liability insurance in a
responsible insurance company, licensed to do business in the
state in which the Premises are located and satisfactory to
Landlord, properly protecting and indemnifying Landlord with
single limit coverage of not less than $ 2,000,000.00 for injury
to or death of persons and for property damage. During the Term,
Tenant shall furnish Landlord with a certificate of certificates
of insurance covering such insurance so maintained by Tenant and
naming Landlord and Landlord's mortgages, if any, as additional
insureds.
9. ASSIGNMENT AND SUBLETTING. Tenant shall not assign,
transfer or encounter this Lease and shall not sublease the
Premises or any part thereof or allow any other person to be in
possession thereof without the prior written consent of Landlord,
in each and every instance, which consent or consents shall not
be unreasonably withheld. For the purpose of this provision, any
transfer of majority or controlling interest in Tenant (whether
in one or more related on unrelated transactions), whether by
transfer of stock, consolidation, merger, transfer of a
partnership interest or transfer of any or all of Tenant's assets
or otherwise or by operation of law, shall be deemed an
assignment of this lease. Notwithstanding any permitted
assignment of subletting. Tenant shall at all times remain
directly, primarily and fully responsible and liable for the
payment of the rent herein specified and for compliance with all
of its other obligations under the terms and provisions of this
Lease.
10. SIGNS AND ADVERTISEMENTS. Tenant shall not place upon
nor permit to be placed upon any part of the Premises, any signs,
billboards or advertisements whatever, without the prior written
consent of Landlord.
20
11. CONDITION OF PREMISES AT BEGINNING OAND END OF TERM.
Tenant acknowledges Tenant has inspected the Premises and, except
as may be provided otherwise in this Lease and without abrogating
Landlord's obligations under Paragraph 15 hereof. Tenant accepts
the Premises in their present condition.
At the end of the Term, except for damage caused by fire or
other perils, Tenant, at Tenant's expense will (a) surrender the
Premises in as good a condition as the Permitted Use will have
reasonably permitted, subject to Tenant's obligations stated in
Paragraphs 12 and 14 herein; (b) have removed all of Tenant's
property from the Premises; (c) have promptly repaired any damage
to the Premises caused by the removal of Tenant's Property; and
(d) leave the Premises free of trash and debris and the building
in "broom clean" condition.
12. MAINTENANCE AND REPAIR BY TENANT. Except for the
obligations imposed upon Landlord in Paragraph 15 hereof, and
except for damage resulting from an Insurable Loss, during the
Term and at Tenant's sole cost and expense. Tenant will maintain
and keep in good order, repair and condition and, when necessary,
will replace all parts of the Premises (except those for which
Landlord is expressly responsible under the terms of this Lease),
including, but not limited to, dock bumpers and other dock
equipment and apparatus, utility service lines form the point
where they enter the building(s) of which the Premises are a
part, interior walls, inside surfaces of exterior walls,
fixtures, floor coverings, lighting fixtures, heating,
ventilating, air conditioning, plumbing, sprinkler system, glass,
windows, doors, electrical and other mechanical equipment,
appliances and systems, railroad spur track, if any, improvements
made by and at the expense of Tenant and Tenant's property,
including, but not limited to: Tenants signs and advertisements.
Tenant will police and keep the driveways, approaches, sidewalks,
parking areas and adjacent alleys that are a part of the Premises
clean, orderly, sightly, unobstructed and free ice and snow.
Tenant will regularly water, mow, trim, fertilize and otherwise
maintain the lawn, shrubs, plants, trees and other landscaping of
the Premises and will prevent water pipes in the Premises from
freezing.
13. LANDLORD'S RIGHT OF ENTRY. Landlord or Landlord's
agent may enter the Premises at reasonable hours to examine the
same, to show the same to prospective lenders and purchasers, and
to do anything Landlord may be required to do hereunder or which
Landlord may deem necessary for the good of the Premises or any
building of which they are a part; and during the last 180 days
of this Lease, Landlord may display a "For Rent" sign on and show
the Premises.
14. PARKING LOT MAINTENANCE. Tenant shall be responsible
for maintenance, cleaning, repainting and repairs of the parking
areas, driveways, sidewalks and approaches, including snow
removal. Tenant will repair all damage to parking areas,
driveways, sidewalks and approaches caused by placement or
movement of trash containers, truck trailers dollies, trucks,
etc. Tenant understands and agrees that no personal property
shall be stored in the parking area or anyplace outside the
building without the prior written consent of Landlord.
21
15. MAINTENANCE AND REPAIR BY LANDLORD. Landlord, during
the Term and at Landlord's sole cost and expense will maintain
and keep in good repair the roof, exterior walls (exclusive of
inside surfaces and glass, windows and doors), gutters,
downspouts, foundations and all other structural components of
the building(s) of which the Premises are a part, all underground
plumbing and sewer lines, and water, gas and electric service
lines to the point where such service lines enter the building(s)
of which the Premises are a part. Landlord will be under no
obligation, and will not be liable for any failure to make and
repairs until and unless Tenant notifies Landlord in writing they
are necessary, in which event Landlord will have a reasonable
time after notice to make such repairs.
16. DAMAGE BY CASULTY. In case, during the Term or
previous thereto, the Premises hereby let or the building of
which said Premises are a part, shall be destroyed or shall be so
damaged by fire or other casualty as to become untenantable, then
in such event, at the option of Landlord, the Term shall cease
and this Lease shall become null and void from the date of such
damage or destruction and Tenant shall immediately surrender said
Premises and all interest therein to landlord, and Tenant shall
pay rent within said Term only to the time of such surrender
provided however, that Landlord shall exercise such option to so
terminate this Lease by notice in writing delivered to Tenant
within thirty days after such damage or destruction. In case
Landlord shall not so elect to terminate this Lease, this Lease
shall continue in full force and effect and Landlord shall repair
the Premises with all reasonable promptitude, placing the same in
as good a condition as they were at the time of the damage or
destruction, and for that purpose may enter said Premises and
rent shall ▇▇▇▇▇ in proportion to the extent and duration of
untenantability. In either event, Tenant shall remove all
rubbish, debris, merhcandise, furniture, equipment and other of
its personal property, within five days after the request of
Landlord. If the Premises shall be but slightly injured by fire
or other casualty, so as not to render the same untenantable and
unfit for occupancy, then Landlord shall repair the same with all
reasonable promptitude, and in that case the rent shall not
▇▇▇▇▇. Except as provided herein, no compensation or claim shall
be made by or allowed to Tenant by reason of an inconvenience or
annoyance arising from the necessity of repairing any portion of
the building of the Premises, however the necessity may occur.
17. PERSONAL PROPERTY. Landlord shall not be liable for
any loss or damage to any merchandise Inventory, goods, fixtures,
improvements or personal property of tenant in or about the
Premises, regardless of the cause of such loss or damage.
18. ALTERATIONS. Tenant shall not make any alterations or
additions nor to the Premises without the prior written consent
of Landlord.
19. UTILITIES AND SERVICES. Tenant shall furnish and pay
for all electricity, gas, water, fuel, trash removal and any
services or utilities used in or assessed against the Premises
unless otherwise herein expressly provided.
20. LEGAL REQUIREMENTS. Tenant shall comply with all laws,
orders, ordinances and other public requirements now or hereafter
affecting the Premises or the use thereof, including without
limitation ADA, OSHA and like requirements, and indemnify, defend
and hold Landlord harmless from expense or damage resulting from
failure to do so.
21. MULTIPLE TENANCY BUILDING. N/A
22
22. FIXTURES. Except for Tenant's property and business
fixtures, all buildings, repairs, alterations, additions,
improvements, installations and other non-business fixtures
installed or erected on the Premises, whether by or at the
expense of Landlord or Tenant, will belong to Landlord and will
remain on and be surrendered with the Premises at the expiration
or termination of this Lease. However, at Landlord's option,
Tenant shall remove Tenant's alterations or improvements prior to
the expiration of this Lease and return the Premises to their
original condition.
23. INCREASE IN REAL ESTATE TAXES AND SPECIAL ASSESSMENTS.
N/A
24. EMINENT DOMAIN. If the Premises or any substantial
part thereof shall be taken under the power of eminent domain or
be acquired for any public or quasi-public use or purpose, the
Term shall cease and terminate upon the date when the possession
of said Premises or the part thereof so taken shall be required
for such ▇▇▇ or purpose and without apportionment of the award,
and Tenant shall have not claim against Landlord for the value of
any unexpired term. If any condemnation proceeding shall be
instituted in which it is sought to take or damage any part of
the Premises or the building of which the Premises are a part or
the land under it, or if the grade of any street or alley
adjacent to the Premises is changed by any legal authority and
such change of grade makes it necessary or desirable to remodel
the Premises to conform to the changed grade. Landlord shall
have the right to cancel this Lease after having give written
notice of cancellation to Tenant not less than ninety (90) days
prior to the date of cancellation designated in the notice. In
either of said events, rent at the then current rate shall be
apportioned as of the date of the termination. No money or other
consideration shall be payable by Landlord to Tenant for the
right of cancellation and Tenant shall have no right to share in
the condemnation award or in any judgment for damages caused by
taking or the change or grade. Nothing in this paragraph shall
preclude an award being made to Tenant for loss of business or
depreciation to and cost of removal of equipment of fixtures.
25. WAIVER OF SUBROGATION. As part of the consideration
for this Lease, each of the parties hereby releases the other
party hereto from all liability for damage due to any act or
neglect of the other party (except as hereinafter provided)
occasioned to property owned by said parties which is or might be
incident to or the result of a fire or any other casualty against
loss for which either of the parties in now carrying or hereafter
may carry insurance; provided, however, that the releases herein
contained shall not apply to any loss or damage occasioned by
intentional acts of either of the parties hereto, and the parties
hereto further covenant that any insurance they obtain on their
respective properties shall contain an appropriate provision
whereby the insurance company, or companies, consent to the
mutual release of liability contained in this paragraph.
23
26. DEFAULT AND REMEDIES. In the event: (a) Tenant fails
to comply with any term, provision, condition or covenant of this
Lease; (b) Tenant deserts or vacates the Premises; (c) any
petition is filed by or against Tenant under any section or
chapter of the Federal Bankruptcy Act, as amended, or under any
similar law or statue of the United States or any state thereof;
(d) Tenant becomes insolvent or makes a transfer in fraud of
creditors; (e) Tenant makes an assignment for benefit of
creditors; or (f) a receiver is appointed for Tenant or any of
the assets of Tenant, then in any of such events. Tenant shall
be in default and Landlord shall have the option to do any one or
more of the following: upon ten (10) days prior written notice,
excepting the payment of rent or additional rent for which no
demand or notice shall be necessary, in addition to and not in
limitation of any other remedy permitted by law, to enter
upon the Premises either with or without process of law, and to
expel, remove and put out Tenant or any other persons who might
be thereon, together with all personal property found therein;
and, Landlord may terminate this Lease or it may from time to
time, without terminating this Lease, rent said Premises or any
part thereof for such term or terms (which may be for a term
extending beyond the Term) and at such rental or rentals and upon
such other terms and conditions as Landlord in its sole
discretion may deem advisable, with the right to repair,
renovate, remodel, redecorate, alter and change said Premises.
At the option of Landlord, rents received by Landlord form such
reletting shall be applied first to the payment of any
indebtedness from Tenant to Landlord other than rent and
additional rent due hereunder; second, to payment of any costs
and expenses of such reletting, including, but not limited to,
attorney's fees, advertising fees and brokerage fees and to the
payment of any repairs, renovation, remodeling, redecorations,
alterations and changes in the Premises; third, to the payment of
rent and additional rent due and payable hereunder and interest
thereon; and if after applying said rentals there is any
deficiency in the rent and additional rent and interest to be
paid by Tenant under this Lease. Tenant shall pay any such
deficiency to Landlord and such deficiency shall be calculated
and collected by Landlord monthly. No such re-entry or taking
possession of said Premises shall be construed as an election of
Landlord's part to terminate this Lease unless a written notice
of such intention be given to Tenant. Notwithstanding any such
reletting without termination, Landlord may at any time
thereafter elect to terminate this Lease for such previous breach
and default. Should Landlord at any time terminate this Lease by
reason of any default, in addition to any other remedy it may
have, it may recover from Tenant the worth at the time of such
termination of the excess of the amount of rent and additional
rent reserved in this Lease for he balance of the Term over the
then reasonable rental value of the Premises for the same period.
Landlord shall have the right and remedy to seek redress in the
courts at any time to correct or remedy any default of Tenant by
injunction or otherwise, without such resulting or being deemed a
termination of this Lease, and Landlord, whether this Lease has
been or is terminated or not, shall have the absolute right by
court action or otherwise to collect any and all amounts of
unpaid rent or unpaid additional rent or any other sums due from
Tenant to Landlord under this Lease which were or are unpaid at
the date of termination. In case it should be necessary for
Landlord to bring any action under this Lease, to consult or
place said lease or any amount payable by Tenant hereunder with
an attorney concerning or for the enforcement of any of
Landlord's rights hereunder then Tenant agrees in each and any
such case to pay to Landlord, Landlord's reasonable attorney's
fees.
24
27. WAIVER. The rights and remedies of Landlord under this
Lease, as well as those provided or accorded by law, shall be
cumulative, and none shall be exclusive of any other rights or
remedies hereunder or allowed by law. A waiver by Landlord of
any breach or breaches, default or defaults of Tenant hereunder
shall not be deemed or construed to be a continuing waiver of
such breach or default nor as a waiver of or permission,
expressed or implied, for any subsequent breach or default, and
it is agreed that the acceptance by Landlord of any installment
of rent subsequently to the date the same should have been paid
hereunder, shall in no manner alter or affect the covenant and
obligation of Tenant to pay subsequent installments of rent
promptly upon the due date thereof. No receipt of money by
Landlord after the termination of this Lease shall in any way
reinstate, continue or extend the term above demised.
28. TOXIC OR HAZARDOUS MATERIALS. Tenant shall not store,
use or dispose of any toxic or hazardous materials in, on or
about the Premises without the prior written consent of Landlord.
Tenant, at its sole cost, will comply with all laws relating to
Tenant's storage, use and disposal of hazardous or toxic
materials. Tenant shall be solely responsible for and will
defend, indemnify and hold Landlord, its agents and employees,
harmless from and against all claims, costs and liabilities,
including attorney's fees and costs, arising out of or in
connection with the removal, clean-up and restoration work and
materials necessary to return the Premises, and any other
property of whatever nature located on the Premises, to their
condition existing prior to the appearance of toxic or hazardous
materials on the Premises. Tenant's obligations under this
paragraph will survive the termination of this Lease.
29. REAL ESTATE COMMISSION. ▇. ▇. ▇▇▇▇▇▇▇ & Co.,LLC
the REALTOR(S) identified in the "Agency Disclosure(s)" attached
to and hereby incorporated into this Lease is(are) the only real
estate broker(s) involved in representing or procuring the
parties to this Lease.
Upon complete execution of this Lease by both Landlord and
Tenant. Landlord will pay the REALTOR(S) a leasing commission of
five percent
Pursuant to the agreement between Landlord and REALTOR(S).
Upon execution of any extensions or renewals of this Lease,
or expansions of the Premises, a commission of five percent
shall also be paid by Landlord to the above named
REALTOR(S) on all rentals to be received for any extensions or
renewals of the Term and on all increases in the amount of rent
due Landlord as a result of any enlargement of the Premises. If
the Premises are purchased by Tenant during the Term, Landlord
will pay such REALTOR(S) a sales commission of five percent
less credit for any unamortized portion of the leasing commission
already paid.
Any party to this Lease through whom a claim to any
broker's, finder's or other fee is made, contrary to the
representations made above in this paragraph, shall indemnify,
defend and hold harmless the other party to this Lease from any
other loss, liability, damage, cost or expense including without
limitation, reasonable attorney's fees, court costs and other
legal expenses paid or incurred by the other party, that is in
any way related to such a claim.
30. NOTICES. Any notice hereunder shall be sufficient if
sent by certified mail, addressed to Tenant at the Premises, and
to Landlord where rent is payable,
25
31. SUBORDINATION. In the event Landlord holds title to
said Premises by virtue of lease, then this sublease is and shall
remain subject to all of the terms and conditions of such
underlying lease so far as shall be applicable to the Premises.
This Lease shall also be subject and subordinate in law and
equity to any existing or future mortgage or deeds of trust
placed by Landlord upon the Premises or the property of which the
Premises form a part.
32. SUCCESSORS. The provisions, covenants and conditions
of this Lease shall bind and insure to the benefit of the legal
representatives, heirs, successors and assigns of each of the
parties hereto except that not assignment or subletting by Tenant
without the written consent of Landlord shall vest any rights in
the assignee or subtenant of Tenant.
33. QUIET POSSESSION. Landlord agrees, so long as Tenant
fully complies with all of the terms, covenants and conditions
herein contained on Tenant's part to be kept and performed Tenant
shall and may peaceably and quietly have, hold and enjoy the
Premises for the Term aforesaid. It being expressly understood
and agreed that the aforesaid covenant of quiet enjoyment shall
be binding upon Landlord, its heirs, successors or assigns, but
only during such party's ownership of the Premises. Landlord and
Tenant further covenant and represent that each has full right,
title, power and authority to make, execute and deliver this
Lease.
34. BANKRUPTCY. Neither this Lease nor any interest
therein nor any estate hereby created shall pass to any trustee
or receiver in bankruptcy or to any other receiver or assignee
for the benefit of creditors by operation of law or otherwise
during the Term of any renewal thereof.
35. ENTIRE AGREEMENT. This Lease contains the entire
agreement between the parties and no modification of Lease shall
be binding upon the parties unless evidence by an agreement in
writing signed by Landlord and Tenant after the date hereof. If
there be more than on Tenant named herein, the provisions of this
Lease shall be applicable to and binding upon such Tenants,
jointly and severally.
36. SUBORDINATION. Tenant shall attorn to any successor to
Landlord upon request and to execute any documents reasonably
required or appropriate to effectuate such an attornment or the
subordination aforesaid, upon written notice thereof, and Tenant
does hereby make, constitute and irrevocably appoint Landlord as
Tenant's attorney-in-fact and in Tenant's name, place and ▇▇▇▇▇
to execute all such documents in accordance therewith.
37. ESTOPPEL CERTIFICATES. Tenant shall at any time upon
not less than ten (10) days prior written notice from Landlord
execute, acknowledge and deliver to Landlord or to any lender of
or purchaser from Landlord a statement in writing certifying that
this Lease is unmodified and in full force and effect (or if
modified stating the nature of such modification) and the data to
which the rent and other charges are paid in advance, if any, and
acknowledging that there are not, to Tenant's knowledge, any
uncured defaults on the part of Landlord or specifying such
defaults if any are claimed. Any such statement may be
conclusively relied upon by any prospective purchaser or
encumbrancer of the Premises or of the business of Landlord
SEE ATTACHED ADDENDUM FOR ADDITIONAL PROVISIONS
IN WITNESS WHEREOF, said parties hereunto subscribed their names.
Executed in four originals.
26
Landlord Tenant
▇▇▇▇▇▇▇ ▇. Bieber Global Ground Support, LLC
By: /s/ ▇▇▇▇▇▇▇ ▇. Bieber By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Date: 8/26/98 Date: 8/26/98
ADDENDUM TO COMMERCIAL AND INDUSTRIAL LEASE AGREEMENT
BETWEEN ▇▇▇▇▇▇▇ ▇. BIEBER (LANDLORD)
AND GLOBAL GROUND SUPPORT, LLC (TENANT) FOR ▇▇▇ ▇▇▇▇ ▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇
38. REAL ESTATE TAXES. Tenant shall pay to Landlord in
monthly installments all real estate taxes and installments of
special easements, if any, assessed and payable with respect to
the leased premises. The 1997 real estate taxes were $76,488.00
or approximately $6,374.00 per month. This figure shall be
adjusted annually to reflect any changes in the tax assessment.
39. BRIDGE CRANE. Tenant shall have use of the bridge
cranes and Tenant shall accept such bridge cranes and cable lifts
in their "as is" condition. Landlord shall have no obligation to
make repairs to the bridge cranes either at delivery of the
Premises or during the lease term. All maintenance and repair of
the bridge cranes shall be Tenant's responsibility and such
bridge cranes shall be returned to Landlord at the end of the
lease term in good condition as at the beginning of the lease
term, ordinary wear and tear excepted.
40. CONDITION OF PREMISES. Tenant is leasing the premises
in an "as is" condition, except Landlord shall insure at the
beginning of the lease term or as soon thereafter as reasonable
possible the following:
(a) Repair or replace malfunctioning light fixtures in the
plant area in accordance with Exhibit "B" attached hereto.
(b) Replace all carpet in east office area in a color and
shade mutually acceptable to Landlord and Tenant at a cost not to
exceed $13.00 per yard installed.
After the lighting repair work required herein is completed,
Tenant shall then maintain and repair the equipment as provided
under Paragraph 12 of this Lease.
41. OPTION TO EXTEND. Tenant is granted one option to
extend the lease term for a period of three (3) years. All terms
and provisions of the lease shall remain except the basic rent.
The basic monthly rent for the extended term shall be increased
by the same percentage change of the Consumer Price Index, All
Urban Consumers, U. S. City Average (1982-84=100) between the
index for August 1998 and August 2001. This option to extend
shall only be effective if Tenant has given Landlord written
notice on or before March 1, 2001 of its intention toe extend the
lease term. Notwithstanding the foregoing, in no event shall
monthly basic rental for the extended term be less than
$29,529.41.
27
ADDENDUM TO COMMERCIAL AND INDUSTRIAL LEASE AGREEMENT
BETWEEN
▇▇▇▇▇▇▇ ▇. BIEBER (LANDLORD)
AND
GLOBAL GROUND SUPPORT, LLC (TENANT)
FOR
▇▇▇ ▇. ▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇
PAGE 2
42. PURCHASE OPTION. Provided Tenant is not in default
hereunder, the Tenant is granted the option to purchase the
leased premises during the first two years of the leases term for
a price of $3,4000,000.00. To exercise the option, Landlord must
receive from Tenant or Guarantor an acceptable purchase contract
from the Tenant together with an ▇▇▇▇▇▇▇ money deposit of
$100,000.00 on or before September 1, 2000.
43. EQUIPMENT MAINTENANCE. The provisions of paragraph 12
notwithstanding, Landlord agrees to replace the office HVAC
equipment if, in the opinion of a reputable HVAC contractor the
HVAC unit or units cannot be reasonably repaired and has been
maintained in a reasonable manner by Tenant. Once such
replacement of HVAC unit or units is completed, Tenant shall then
maintain, repair or replace the equipment in accordance with
paragraph 12 hereof.
44. AIR COMPRESSOR. Tenant shall have use of the air
compressor with related equipment and Tenant shall accept such
air compressor in "as is" condition. Landlord shall have no
obligation to make repairs to the air compressor and equipment
either at delivery of the Premises or during the Lease Term. All
maintenance and repair of the air compressor and equipment shall
be Tenant's responsibility and such air compressor and equipment
shall be returned to Landlord at the end of Lease Term in as good
condition as at the beginning of the Lease Term, ordinary wear
and tear excepted.
The present condition of Worthington 40 horsepower air compressor
at the beginning of lease term is as specified in letter of
August 31, 1998 from Kaeser Compressors, a copy of which has been
delivered and acknowledged by both parties.
28
Guaranty of Lease
This Guaranty made as of this 25th day of August, 1998, by
the undersigned Guarantor in favor of ▇▇▇▇▇▇▇ ▇. Bieber.
Reference is made to the Commercial and Industrial Lease of even
date herewith (the "Lease") between ▇▇▇▇▇▇▇ ▇. Bieber
("Landlord"), whose address is ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇,
▇▇ ▇▇▇▇▇-▇▇▇▇, and Global Ground Support, LLC ("Tenant"), of
certain premises identified as the one-story industrial building
at ▇▇▇ ▇. ▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇ and the adjoining parking
lot and grounds.
In consideration of the Landlord's execution of the Lease
and other valuable consideration paid, the receipt of which is
hereby acknowledged, the undersigned Guarantor hereby
unconditionally guarantees to Landlord, and its successors and
assigns the payment of the rents and other sums provided for in
the Lease and the performance of all conditions contained therein
on the part of the Tenant.
In witness whereof, the Guarantor has executed this Guaranty
as of the day and year first above written.
Guarantor: Air Transportation Holding Company, Inc.
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇
29