Louisiana Lease
Content
STATE OF LOUISIANA PARISH OF OUACH1TA
COMMERCIAL LEASE
307 Hudson Lane, Monroe, Sterlington, La. BEFORE me, the undersigned notary public, and the undersigned witnesses, on this the day of June, 2013, personally came and appeared: WADE R. BAGGETFE, a major resident of Ouachita Parish, Louisiana, married but once and then to NANCY W. BAGGETTE, nee WIGGERS, with whom he is living in community at 211 Roselawn Avenue, Monroe, Louisiana 71201, hereinafter referred to as "Landlord", and TWILIGHT RESTAURANT AND LOUNGE, L.L.C, 1201 Budweiser Street, Monroe, Louisiana 71201, appearing herein through a member, JOHN H. DOE, and the said JOHN H. DOE, DDS individually, a single man residing at 2604 Half Moon Drive, Monroe, Louisiana 71201, (hereinafter referred to as "Tenant"), who, after being by me first duly sworn, deposed and declared as follows: WHEREAS, Landlord desires to let and lease certain immovable property, being a vacant lot located at 307 Hudson Lane, Monroe, Ouachita Parish, Louisiana, and WHEREAS, Tenant desires to rent the same for use as a parking lot, NOW, THEREFORE, in consideration of the foregoing, and the mutual promises and covenants of the parties hereinafter set forth, they state that they do by these presents enter into an agreement of lease on the following terms and conditions. 1. PREMISES Landlord hereby lets and leases to Tenant and Tenant hereby rents and leases from Landlord a certain municipal lot located at 307 Hudson Lane, Monroe, Louisiana, hereinafter referred to as "the Leased Premises", or, in some cases, as simply "the Premises"), and which lot is more particularly described as follows:
075LeaseGeneric.wpd
A certain lot or parcel of ground in Square Number Three (3) of Hudson's Addition (Home Addition) to the City of Monroe, Louisiana; said lot beginning on the north side of Hudson Avenue seventy-five feet (75') from the intersection of the north line of Hudson Avenue with the east line of North Third Street, fronting thence along Hudson Avenue in an easterly direction a distance of seventy-five feet (75'), and running back in said Square or Block Number Three (3) between parallel lines a distance of one hundred sixty feet (160'), and being the same property acquired by from David Masur by cash deed recorded in Conveyance Book 895, page 432, records of Ouachita Parish, Louisiana. 2. DATE AND TERM OF LEASE The date of this Lease shall be the date first hereinabove set forth, and the initial, or Base, term shall be for five (5) consecutive calendar years, commencing July 1, 2013, and ending June 30,2018. The anniversary date of the Lease shall be July 1St. 3. RENT Rent for the Premises during the term of this Lease shall be THIRTY THOUSAND AND N0/100 DOLLARS ($30,000.00), divided into sixty (60) equal payments of FIVE HUNDRED AND N0/100 DOLLARS ($500.00) each, payable in advance in cash or by cashiers check on the first day of each calendar month. Rent shall be payable at 230 Auburn Avenue, Monroe, Louisiana 71201 unless notification to the contrary in writing is made to Tenant, and then rent shall be payable at the substitute address. If any monthly rental payment is not made by the first day of the month in which it is due, the unpaid portion of the same shall bear interest at the rate of TEN PERCENT (10%) per annum from date due until paid in full. All persons collectively making up "Tenant" as defined in this Lease shall be jointly and severally liable in solido for all obligations of Tenant hereunder, and shall be liable individually and in solido for the rent due hereunder, including any interest or penalties on the unpaid balance, reasonable attorney fees and costs of collecting any and all unpaid rent hereunder. In addition to interest for late payment, any rent payment made after the fifth day of the calendar month in which it is due shall be subject to a late charge of $15.00. 2
It is the express intent of and stipulated by the parties that nothing contained herein shall be construed to relieve Tenant of the obligation of payment of rent, and any material breach by Tenant of any of the covenants or conditions of this Lease shall have the effect, at Landlord's sole option, of immediately terminating the Lease, and the further effect of accelerating the remaining, unpaid rental payments hereunder, and they shall become immediately due and payable in their entirety. Failure to pay rent timely shall constitute a material breach of this agreement. Any tacit or express waiver of this provision by Landlord for any rent payment or payments due hereunder shall not constitute a waiver of the application of this provision to other and further rent payments. 4. USE OF THE PREMISES Tenant may use the Premises solely for a parking lot, but may use the same for any lawful purpose not inconsistent with the current zoning ordinance of the City of Monroe.
5.
MODIFICATIONS Other than those hereinafter described, Tenant shall make no alterations, modifications or improvements to the Premises without prior written consent of Landlord. Tenant shall maintain the Premises is as good condition as they are upon execution of this Agreement, and agrees to remove and dispose of, at Tenant's own expense, any discarded bottles, cans, paper, limbs and other trash on a periodic basis, keeping the lot reasonably clean and neat. Tenant shall mow, trim, edge and sweep the Premises as needed during summer and rake and dispose of fallen leaves in the winter, all at Tenant's expense. Tenant shall also fill any unsightly mud holes or other depressions which appear on the premises for any reason with surfacing material acceptable to Landlord.
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6. INSURANCE Tenant shall purchase and maintain such insurance as will protect Tenant and Landlord from claims which may arise as a result of Tenant's operations at the Premises during the term of this lease and at any time the Premises is in the possession and control of Tenant, whether or not during the term, and whether or not the possession is lawful. This insurance shall protect both Tenant and Landlord against the following types of claims, and this list is not herein included by way of limitation, but by way of illustration: A. Claims for damages because of bodily injury, occupational sickness or disease, or death of Tenant or any employee or agent of Tenant, whether or not covered by workmen's compensation statutes and applicable interpretive jurisprudence; Claims for damages because of bodily injury, sickness or disease, or death of any person other than Tenant or an employee or agent of Tenant, including business invitees of Tenant; Claims for property damages to property of Tenant, Landlord or any other person, including business invitees of Tenant.
B.
C.
This insurance shall generally consist of General Public Liability and Properly Damage Insurance, including vehicle coverage, issued to Tenant and protecting Tenant from all claims for personal injury, including death, and all claims for destruction of or damage to property arising out of or in connection with any acts or omissions to act of either Tenant or Landlord, their agents, employees, heirs, successors or assigns, which act or omission breaches a legal duty running to any person or persons. Such insurance shall be written with a limit of liability of not less than ONE MILLION AND N0/100 DOLLARS (1,000,000.00) for all damages arising out of bodily injury, including death, at any time resulting therefrom, sustained by one or more persons and arising out of any one accident, with an annual aggregate of not less than FIVE MILLION AND N01100 DOLLARS ($5,000,000.00) for any event or occurance. Insurance shall be written with a limit of liability of not less than FIVE HUNDRED THOUSAND AND NO/iOO DOLLARS ($500,000.00) for all property damage sustained in a single transaction or occurrence. Landlord shall be named
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as an additional insured under the policy and the policy shall contain a provision that it may not be canceled without thirty (30) days prior written notice to Landlord. 7. CERTIFICATE OF INSURANCE Before commencement of any occupancy hereunder, Tenant shall supply a certificate or certificates of insurance to Landlord to the effect that Tenant has secured and placed in force insurance pursuant to and meeting the minimum requirements of Article 6 hereof. Such certificates shall contain a provision that coverages afforded under the policies will not be canceled unless at least thirty (30) days prior written notice is given to Landlord. These certificates shall contain a statement recognizing Landlord's status as an additional insured under each policy. The parties agree that this shall be a material condition of the Lease, and Tenant shall no right of occupancy until the obligation of this provision has been discharged by Tenant to the satisfaction of Landlord. 8. INDEMNIFICATION Tenant agrees to indemnify and save and hold Landlord harmless from and against any and all claims, damages, losses and expenses, including attorney fees, arising out of any act or omission to act on the part of Tenant, which act or omission to act is the breach of a legal duty to any person or persons, and which occurs during occupancy of the Premises by Tenant, whether or not during the lease term, and whether or not such occupancy is lawful, provided any such claim, damage, or expense is attributable to bodily injury, sickness, disease or death, or to injury to or destruction of property, movable or immovable, corporeal or incorporeal, including loss of use resulting therefrom, caused in whole or in part by any negligent or willful act or omission to act of Tenant, Tenant's agents, assigns, customers, business associates or the like, while Tenant is in possession and control of the Premises, whether or not during the term of this lease and whether or not such possession and control is lawful.
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9. TERMINATION Should Tenant violate any conditions of this lease, it may be immediately terminated at the option of Landlord and, if terminated without election by Landlord of Landlord's option to accelerate rent, it is stipulated that Tenant shall pay Landlord six (6) months rent as liquidated damages as compensation to Landlord for the inconvenience of having to find another tenant. Notice of termination may be delivered by Landlord to Tenant at the last known mailing address of Tenant as given to Landlord, or may be affixed to the front of the Premises. Notice is complete upon mailing or affixation to the Premises. Tenant waives all statutory notice periods for eviction. This lease shall also be terminated, at the option of Landlord, on the death, commencement of a proceeding, voluntary or involuntary, in receivership, insolvency or bankruptcy or the for determination of the mental, legal or other incompetency of the person or persons defined herein as Tenant, or any of them, and Landlord's decision shall be effective retroactive to the date of the terminating event, or upon the felony conviction of Tenant, or any of them. On termination of this lease, Tenant is obligated to immediately surrender possession, and should Tenant fail to do so, Tenant consents to pay, as liquidated damages, five times the rent per day, together with attorney's fees and costs necessary for Landlord to retake possession, such liquidated damages to continue until Tenant either voluntarily vacates the Premises after written notice to Landlord, or until Tenant is forcibly evicted therefrom. Tenant also expressly waives any notice to vacate at the termination of this Lease and all legal delays, and hereby confesses judgment with costs, placing Landlord in possession to be executed at once. Should Landlord suffer Tenant to remain in possession of the premises after termination of this lease, Landlord's acquiescence shall not be construed as a reconduction of the lease.
N .
Should Tenant violate any material condition of this lease, such as nonpayment of rent, Landlord may, at his option, accelerate all payments due hereunder. Notice of acceleration may be delivered to Tenant at Tenant's last known address or posted at the Premises. In the event of non-renewal of this lease by either party for the base or any renewal term, Landlord reserves the right to post and keep posted on the property "For Rent" signs during a sixty (60) day period immediately preceding the expiration of the lease base or any renewal term, whichever is appropriate in the circumstances. This Agreement may be terminated by either party if the Premises is so damaged by force inajeure, casualty or exercise of the power of eminent domain as to render more than one-third (1/3) of it not habitable for purposes of this Lease. Any such termination shall not be effective until thirty (30) days after written notice of intent to terminate pursuant to this provision is received by the nonterminating party from the terminating party. 10. USE OF PREMISES BEFORE TERM COMMENCES The parties agree that Tenant shall have access to and the use of the Premises from the date of this lease until the date of commencement hereunder, but Tenant's right to possession shall terminate immediately at 5 P.M. on the day of commencement of the lease term without further notice unless the first month's rent payment shall have been received by Landlord. If modifications are made to the Premises under any side agreement as to such modifications, Tenant shall promptly yield possession for purposes of construction, whether during the lease term or prior thereto. 11. SUBORDINATION AND ATTORNMENT Landlord reserves the right to place liens and encumbrances on the Premises superior in lien and effect to this Lease. This Lease, at the option of Landlord, shall be subject and subordinate to any liens or encumbrances now or hereafter imposed by Landlord upon the Premises, and Tenant agrees to execute and deliver, upon demand, such instruments subordinating this Lease to any such lien or encumbrance as shall be required by Landlord. 7
In the event any proceedings are brought for the foreclosure of any mortgage on the Leased Premises, Tenant shall attorn to the purchaser at foreclosure sale and recognize the purchaser as the
Landlord under this Lease. The purchaser, by virtue of such foreclosure, shall be deemed to have
assumed, as substitute Landlord, the terms and conditions of this Lease until the resale or other disposition of its interest by such purchaser. Such assumption, however, shall not be deemed of itself an acknowledgment by the purchaser of the validity of any then existing claims of Tenant against the prior Landlord. The purchaser shall have no liability to repay Tenant any security deposit paid to any prior Landlord, but Tenant shall not be obligated to make any further security deposit toward the last month's rent due such purchaser under this Lease. Tenant agrees to execute and deliver such other and further assurances and other documents (including a new lease on the same terms and conditions as this Lease) confirming the foregoing as such purchaser may reasonably request. Tenant waives any rights of election to terminate this Lease because of such foreclosure proceedings. 12. ASSIGNMENTS Tenant shall not have the right to assign or sublet in whole or part any portion of the Leased Premises without prior written consent of Landlord. If Landlord consents to assignment, it is a material condition of this lease that the assignment made between Tenant and any subtenant shall require the subtenant to agree to abide by all terms and conditions of this lease, and that Tenant is not released from any obligation hereunder. Landlord may sell, transfer or assign all or any part of its interest in the Leased Premises or this Lease at any time without consent of Tenant. 13. NOTICE Notice hereunder shall be in writing to the other party at the mailing address set forth on the first page of this Agreement, or at such substitute address as may from time to time be given by notice in writing by any party to the other parties during the pendency of this Agreement. Notice
to Tenant may be made at the Premises by affixing a copy of the same to any convenient structure on the premises, natural or manmade. Notice by mail shall be complete upon receipt, and may be evidenced by receipt for certified mail. 14. INTEGRATION This Agreement constitutes the whole agreement between the parties with regard to the subject matter contained herein. All other agreements which were or may have been made, whether orally or in writing, prior to this Agreement on this subject are declared to be null and of no effect. 15. INTERPRETATION AND MODIFICATION This Agreement shall be construed liberally to give effect to its primary objective and the intent of the parties. Any word or phrase which is subject to more than one reasonable interpretation, whether or not prompted by context, shall first be accorded its definition hereunder as a defined term, and, failing that, any special legal definition as set forth by the law of the State of Louisiana or, in the absence thereof, by customary usage in the industry and of the place. If none of these apply, it shall be given its ordinary, or plain usage, meaning. No modification of this Agreement shall be made except in writing and signed by the parties. 16. BINDING EFFECT If any part of this Agreement is found to be invalid by any court of competent jurisdiction, it is the express intent of the parties hereto that such invalidity shall not act to invalidate the remaining provisions of this Agreement. This Agreement shall be binding on Tenant and Tenant's heirs, successors, agents, employees and assigns to the extent permitted by law, and wherever the term "Tenant" appears in this Agreement, and the context permits, it is agreed by the parties that it shall be construed as meaning "Tenant and Tenant's heirs, successors, agents, employees and assigns" as if therein written out in full.
This Agreement shall be binding on Landlord and Landlord's successors, agents, employees and assigns to the extent permitted by law, and wherever the term "Landlord" appears in this Agreement, and the context permits, it is agreed by the parties that it shall be construed as meaning "Landlord and Landlord's successors, agents, employees and assigns" as if therein written out in full. In the event the term "Tenant" is defined in this lease to include more than one person, they agree that they are bound in solido and jointly and severally by the provisions of this Agreement. 17. EXTENSIONS OF TERM This lease shall automatically renew at the end of its base term and any renewal term for an additional five (5) year term on the same terms and conditions, except that the rent shall be FORTYFIVE THOUSAND AND N0/100 DOLLARS ($45,000.00), payable in monthly installments of SEVEN HUNDRED FIFTY ($750.00) on the first day of each month, the other terms and conditions of the Lease to remain the same, unless either party has given the other party notice of intent not to renew at least sixty (60) calendar days prior to the expiration of the term during which such notice is given. These automatic renewals shall continue until the lease is terminated. 18. COUNTERPART ORIGINALS This Lease shall be executed in two counterpart copies, each of which shall be deemed an original, one of which shall be delivered to Tenant, and the other to Landlord. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands before us, notaries, and the undersigned competent witnesses at my offices in Monroe, Louisiana on the date first shown.
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Witness
(Printed Name)
LANDLORD: Wade R. Baggette SS #434-46726 TENANT: TWILIGHT RESTAURANT AND LOUNGE, LLC
LE
John H. Doe, Member Tax ID No. SS No. Witness
(Printed Name)
- John H. Doe, Individually
Notary Public
(Printed Name)
Notary ID No. My commission is for life.
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COMMERCIAL LEASE
307 Hudson Lane, Monroe, Sterlington, La. BEFORE me, the undersigned notary public, and the undersigned witnesses, on this the day of June, 2013, personally came and appeared: WADE R. BAGGETFE, a major resident of Ouachita Parish, Louisiana, married but once and then to NANCY W. BAGGETTE, nee WIGGERS, with whom he is living in community at 211 Roselawn Avenue, Monroe, Louisiana 71201, hereinafter referred to as "Landlord", and TWILIGHT RESTAURANT AND LOUNGE, L.L.C, 1201 Budweiser Street, Monroe, Louisiana 71201, appearing herein through a member, JOHN H. DOE, and the said JOHN H. DOE, DDS individually, a single man residing at 2604 Half Moon Drive, Monroe, Louisiana 71201, (hereinafter referred to as "Tenant"), who, after being by me first duly sworn, deposed and declared as follows: WHEREAS, Landlord desires to let and lease certain immovable property, being a vacant lot located at 307 Hudson Lane, Monroe, Ouachita Parish, Louisiana, and WHEREAS, Tenant desires to rent the same for use as a parking lot, NOW, THEREFORE, in consideration of the foregoing, and the mutual promises and covenants of the parties hereinafter set forth, they state that they do by these presents enter into an agreement of lease on the following terms and conditions. 1. PREMISES Landlord hereby lets and leases to Tenant and Tenant hereby rents and leases from Landlord a certain municipal lot located at 307 Hudson Lane, Monroe, Louisiana, hereinafter referred to as "the Leased Premises", or, in some cases, as simply "the Premises"), and which lot is more particularly described as follows:
075LeaseGeneric.wpd
A certain lot or parcel of ground in Square Number Three (3) of Hudson's Addition (Home Addition) to the City of Monroe, Louisiana; said lot beginning on the north side of Hudson Avenue seventy-five feet (75') from the intersection of the north line of Hudson Avenue with the east line of North Third Street, fronting thence along Hudson Avenue in an easterly direction a distance of seventy-five feet (75'), and running back in said Square or Block Number Three (3) between parallel lines a distance of one hundred sixty feet (160'), and being the same property acquired by from David Masur by cash deed recorded in Conveyance Book 895, page 432, records of Ouachita Parish, Louisiana. 2. DATE AND TERM OF LEASE The date of this Lease shall be the date first hereinabove set forth, and the initial, or Base, term shall be for five (5) consecutive calendar years, commencing July 1, 2013, and ending June 30,2018. The anniversary date of the Lease shall be July 1St. 3. RENT Rent for the Premises during the term of this Lease shall be THIRTY THOUSAND AND N0/100 DOLLARS ($30,000.00), divided into sixty (60) equal payments of FIVE HUNDRED AND N0/100 DOLLARS ($500.00) each, payable in advance in cash or by cashiers check on the first day of each calendar month. Rent shall be payable at 230 Auburn Avenue, Monroe, Louisiana 71201 unless notification to the contrary in writing is made to Tenant, and then rent shall be payable at the substitute address. If any monthly rental payment is not made by the first day of the month in which it is due, the unpaid portion of the same shall bear interest at the rate of TEN PERCENT (10%) per annum from date due until paid in full. All persons collectively making up "Tenant" as defined in this Lease shall be jointly and severally liable in solido for all obligations of Tenant hereunder, and shall be liable individually and in solido for the rent due hereunder, including any interest or penalties on the unpaid balance, reasonable attorney fees and costs of collecting any and all unpaid rent hereunder. In addition to interest for late payment, any rent payment made after the fifth day of the calendar month in which it is due shall be subject to a late charge of $15.00. 2
It is the express intent of and stipulated by the parties that nothing contained herein shall be construed to relieve Tenant of the obligation of payment of rent, and any material breach by Tenant of any of the covenants or conditions of this Lease shall have the effect, at Landlord's sole option, of immediately terminating the Lease, and the further effect of accelerating the remaining, unpaid rental payments hereunder, and they shall become immediately due and payable in their entirety. Failure to pay rent timely shall constitute a material breach of this agreement. Any tacit or express waiver of this provision by Landlord for any rent payment or payments due hereunder shall not constitute a waiver of the application of this provision to other and further rent payments. 4. USE OF THE PREMISES Tenant may use the Premises solely for a parking lot, but may use the same for any lawful purpose not inconsistent with the current zoning ordinance of the City of Monroe.
5.
MODIFICATIONS Other than those hereinafter described, Tenant shall make no alterations, modifications or improvements to the Premises without prior written consent of Landlord. Tenant shall maintain the Premises is as good condition as they are upon execution of this Agreement, and agrees to remove and dispose of, at Tenant's own expense, any discarded bottles, cans, paper, limbs and other trash on a periodic basis, keeping the lot reasonably clean and neat. Tenant shall mow, trim, edge and sweep the Premises as needed during summer and rake and dispose of fallen leaves in the winter, all at Tenant's expense. Tenant shall also fill any unsightly mud holes or other depressions which appear on the premises for any reason with surfacing material acceptable to Landlord.
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6. INSURANCE Tenant shall purchase and maintain such insurance as will protect Tenant and Landlord from claims which may arise as a result of Tenant's operations at the Premises during the term of this lease and at any time the Premises is in the possession and control of Tenant, whether or not during the term, and whether or not the possession is lawful. This insurance shall protect both Tenant and Landlord against the following types of claims, and this list is not herein included by way of limitation, but by way of illustration: A. Claims for damages because of bodily injury, occupational sickness or disease, or death of Tenant or any employee or agent of Tenant, whether or not covered by workmen's compensation statutes and applicable interpretive jurisprudence; Claims for damages because of bodily injury, sickness or disease, or death of any person other than Tenant or an employee or agent of Tenant, including business invitees of Tenant; Claims for property damages to property of Tenant, Landlord or any other person, including business invitees of Tenant.
B.
C.
This insurance shall generally consist of General Public Liability and Properly Damage Insurance, including vehicle coverage, issued to Tenant and protecting Tenant from all claims for personal injury, including death, and all claims for destruction of or damage to property arising out of or in connection with any acts or omissions to act of either Tenant or Landlord, their agents, employees, heirs, successors or assigns, which act or omission breaches a legal duty running to any person or persons. Such insurance shall be written with a limit of liability of not less than ONE MILLION AND N0/100 DOLLARS (1,000,000.00) for all damages arising out of bodily injury, including death, at any time resulting therefrom, sustained by one or more persons and arising out of any one accident, with an annual aggregate of not less than FIVE MILLION AND N01100 DOLLARS ($5,000,000.00) for any event or occurance. Insurance shall be written with a limit of liability of not less than FIVE HUNDRED THOUSAND AND NO/iOO DOLLARS ($500,000.00) for all property damage sustained in a single transaction or occurrence. Landlord shall be named
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as an additional insured under the policy and the policy shall contain a provision that it may not be canceled without thirty (30) days prior written notice to Landlord. 7. CERTIFICATE OF INSURANCE Before commencement of any occupancy hereunder, Tenant shall supply a certificate or certificates of insurance to Landlord to the effect that Tenant has secured and placed in force insurance pursuant to and meeting the minimum requirements of Article 6 hereof. Such certificates shall contain a provision that coverages afforded under the policies will not be canceled unless at least thirty (30) days prior written notice is given to Landlord. These certificates shall contain a statement recognizing Landlord's status as an additional insured under each policy. The parties agree that this shall be a material condition of the Lease, and Tenant shall no right of occupancy until the obligation of this provision has been discharged by Tenant to the satisfaction of Landlord. 8. INDEMNIFICATION Tenant agrees to indemnify and save and hold Landlord harmless from and against any and all claims, damages, losses and expenses, including attorney fees, arising out of any act or omission to act on the part of Tenant, which act or omission to act is the breach of a legal duty to any person or persons, and which occurs during occupancy of the Premises by Tenant, whether or not during the lease term, and whether or not such occupancy is lawful, provided any such claim, damage, or expense is attributable to bodily injury, sickness, disease or death, or to injury to or destruction of property, movable or immovable, corporeal or incorporeal, including loss of use resulting therefrom, caused in whole or in part by any negligent or willful act or omission to act of Tenant, Tenant's agents, assigns, customers, business associates or the like, while Tenant is in possession and control of the Premises, whether or not during the term of this lease and whether or not such possession and control is lawful.
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9. TERMINATION Should Tenant violate any conditions of this lease, it may be immediately terminated at the option of Landlord and, if terminated without election by Landlord of Landlord's option to accelerate rent, it is stipulated that Tenant shall pay Landlord six (6) months rent as liquidated damages as compensation to Landlord for the inconvenience of having to find another tenant. Notice of termination may be delivered by Landlord to Tenant at the last known mailing address of Tenant as given to Landlord, or may be affixed to the front of the Premises. Notice is complete upon mailing or affixation to the Premises. Tenant waives all statutory notice periods for eviction. This lease shall also be terminated, at the option of Landlord, on the death, commencement of a proceeding, voluntary or involuntary, in receivership, insolvency or bankruptcy or the for determination of the mental, legal or other incompetency of the person or persons defined herein as Tenant, or any of them, and Landlord's decision shall be effective retroactive to the date of the terminating event, or upon the felony conviction of Tenant, or any of them. On termination of this lease, Tenant is obligated to immediately surrender possession, and should Tenant fail to do so, Tenant consents to pay, as liquidated damages, five times the rent per day, together with attorney's fees and costs necessary for Landlord to retake possession, such liquidated damages to continue until Tenant either voluntarily vacates the Premises after written notice to Landlord, or until Tenant is forcibly evicted therefrom. Tenant also expressly waives any notice to vacate at the termination of this Lease and all legal delays, and hereby confesses judgment with costs, placing Landlord in possession to be executed at once. Should Landlord suffer Tenant to remain in possession of the premises after termination of this lease, Landlord's acquiescence shall not be construed as a reconduction of the lease.
N .
Should Tenant violate any material condition of this lease, such as nonpayment of rent, Landlord may, at his option, accelerate all payments due hereunder. Notice of acceleration may be delivered to Tenant at Tenant's last known address or posted at the Premises. In the event of non-renewal of this lease by either party for the base or any renewal term, Landlord reserves the right to post and keep posted on the property "For Rent" signs during a sixty (60) day period immediately preceding the expiration of the lease base or any renewal term, whichever is appropriate in the circumstances. This Agreement may be terminated by either party if the Premises is so damaged by force inajeure, casualty or exercise of the power of eminent domain as to render more than one-third (1/3) of it not habitable for purposes of this Lease. Any such termination shall not be effective until thirty (30) days after written notice of intent to terminate pursuant to this provision is received by the nonterminating party from the terminating party. 10. USE OF PREMISES BEFORE TERM COMMENCES The parties agree that Tenant shall have access to and the use of the Premises from the date of this lease until the date of commencement hereunder, but Tenant's right to possession shall terminate immediately at 5 P.M. on the day of commencement of the lease term without further notice unless the first month's rent payment shall have been received by Landlord. If modifications are made to the Premises under any side agreement as to such modifications, Tenant shall promptly yield possession for purposes of construction, whether during the lease term or prior thereto. 11. SUBORDINATION AND ATTORNMENT Landlord reserves the right to place liens and encumbrances on the Premises superior in lien and effect to this Lease. This Lease, at the option of Landlord, shall be subject and subordinate to any liens or encumbrances now or hereafter imposed by Landlord upon the Premises, and Tenant agrees to execute and deliver, upon demand, such instruments subordinating this Lease to any such lien or encumbrance as shall be required by Landlord. 7
In the event any proceedings are brought for the foreclosure of any mortgage on the Leased Premises, Tenant shall attorn to the purchaser at foreclosure sale and recognize the purchaser as the
Landlord under this Lease. The purchaser, by virtue of such foreclosure, shall be deemed to have
assumed, as substitute Landlord, the terms and conditions of this Lease until the resale or other disposition of its interest by such purchaser. Such assumption, however, shall not be deemed of itself an acknowledgment by the purchaser of the validity of any then existing claims of Tenant against the prior Landlord. The purchaser shall have no liability to repay Tenant any security deposit paid to any prior Landlord, but Tenant shall not be obligated to make any further security deposit toward the last month's rent due such purchaser under this Lease. Tenant agrees to execute and deliver such other and further assurances and other documents (including a new lease on the same terms and conditions as this Lease) confirming the foregoing as such purchaser may reasonably request. Tenant waives any rights of election to terminate this Lease because of such foreclosure proceedings. 12. ASSIGNMENTS Tenant shall not have the right to assign or sublet in whole or part any portion of the Leased Premises without prior written consent of Landlord. If Landlord consents to assignment, it is a material condition of this lease that the assignment made between Tenant and any subtenant shall require the subtenant to agree to abide by all terms and conditions of this lease, and that Tenant is not released from any obligation hereunder. Landlord may sell, transfer or assign all or any part of its interest in the Leased Premises or this Lease at any time without consent of Tenant. 13. NOTICE Notice hereunder shall be in writing to the other party at the mailing address set forth on the first page of this Agreement, or at such substitute address as may from time to time be given by notice in writing by any party to the other parties during the pendency of this Agreement. Notice
to Tenant may be made at the Premises by affixing a copy of the same to any convenient structure on the premises, natural or manmade. Notice by mail shall be complete upon receipt, and may be evidenced by receipt for certified mail. 14. INTEGRATION This Agreement constitutes the whole agreement between the parties with regard to the subject matter contained herein. All other agreements which were or may have been made, whether orally or in writing, prior to this Agreement on this subject are declared to be null and of no effect. 15. INTERPRETATION AND MODIFICATION This Agreement shall be construed liberally to give effect to its primary objective and the intent of the parties. Any word or phrase which is subject to more than one reasonable interpretation, whether or not prompted by context, shall first be accorded its definition hereunder as a defined term, and, failing that, any special legal definition as set forth by the law of the State of Louisiana or, in the absence thereof, by customary usage in the industry and of the place. If none of these apply, it shall be given its ordinary, or plain usage, meaning. No modification of this Agreement shall be made except in writing and signed by the parties. 16. BINDING EFFECT If any part of this Agreement is found to be invalid by any court of competent jurisdiction, it is the express intent of the parties hereto that such invalidity shall not act to invalidate the remaining provisions of this Agreement. This Agreement shall be binding on Tenant and Tenant's heirs, successors, agents, employees and assigns to the extent permitted by law, and wherever the term "Tenant" appears in this Agreement, and the context permits, it is agreed by the parties that it shall be construed as meaning "Tenant and Tenant's heirs, successors, agents, employees and assigns" as if therein written out in full.
This Agreement shall be binding on Landlord and Landlord's successors, agents, employees and assigns to the extent permitted by law, and wherever the term "Landlord" appears in this Agreement, and the context permits, it is agreed by the parties that it shall be construed as meaning "Landlord and Landlord's successors, agents, employees and assigns" as if therein written out in full. In the event the term "Tenant" is defined in this lease to include more than one person, they agree that they are bound in solido and jointly and severally by the provisions of this Agreement. 17. EXTENSIONS OF TERM This lease shall automatically renew at the end of its base term and any renewal term for an additional five (5) year term on the same terms and conditions, except that the rent shall be FORTYFIVE THOUSAND AND N0/100 DOLLARS ($45,000.00), payable in monthly installments of SEVEN HUNDRED FIFTY ($750.00) on the first day of each month, the other terms and conditions of the Lease to remain the same, unless either party has given the other party notice of intent not to renew at least sixty (60) calendar days prior to the expiration of the term during which such notice is given. These automatic renewals shall continue until the lease is terminated. 18. COUNTERPART ORIGINALS This Lease shall be executed in two counterpart copies, each of which shall be deemed an original, one of which shall be delivered to Tenant, and the other to Landlord. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands before us, notaries, and the undersigned competent witnesses at my offices in Monroe, Louisiana on the date first shown.
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Witness
(Printed Name)
LANDLORD: Wade R. Baggette SS #434-46726 TENANT: TWILIGHT RESTAURANT AND LOUNGE, LLC
LE
John H. Doe, Member Tax ID No. SS No. Witness
(Printed Name)
- John H. Doe, Individually
Notary Public
(Printed Name)
Notary ID No. My commission is for life.
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