My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
6C(1) Bombay Boutique Lease Amendment
sbend
>
Public
>
Redevelopment Commission
>
Agendas & Packets
>
2011
>
04-26-11 Packet
>
6C(1) Bombay Boutique Lease Amendment
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/1/2012 4:26:29 PM
Creation date
4/25/2011 9:18:51 AM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
6
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
Landlord under the Lease during the first quarter of 2011. Tenant acknowledges that Tenant <br />currently owes Landlord the sum of $1,129.89 (the "Old Deficiency ") for monthly installments of <br />Base Rent and Additional Rent payable by Tenant to Landlord under the Lease prior to the first <br />quarter of 2011. The Tenant agrees to pay Landlord the New Deficiency as follows: <br />a. Commencing on May 1 st, 2011 and continuing on the first day of the month, <br />for the following 12 months, the tenant agrees to pay $403.32, in addition to the new rent and <br />common area maintenance charges. The monthly payment for the next twelve (12) months <br />will be $1,236.65, comprised of the following: <br />New Rent & CAM: $833.33 <br />Repayment $403.32 <br />Total Monthly Payment $1,236.65 <br />b. In addition to the foregoing, effective May 1, 2011, the Total Monthly Rent <br />shall further include ten percent (10.00 %) of the Tenant's annual gross revenues that exceed <br />One Hundred Thousand and 00 /100 Dollars ($600,000.00) calculated from May 1, 2011 to <br />April 30, 2011, which portion of the Total Monthly Rent for that month shall be due based <br />upon the prior month's additional increment to gross revenues. In the event that the Lease is <br />terminated prior to April 30, 2012, the foregoing additional Rent due shall be prorated by <br />dividing the annual gross revenue threshold based upon a three hundred sixty (360) day year. <br />C. The tenant shall submit a monthly income statement by the 10th of each <br />month commencing May 10th, 2011 to the property manager. The tenant will also submit <br />additional rent due each month concurrently with the income statement submittal. <br />d. The Old Deficiency will be waived in the event that the Tenant complies with <br />all other terms of the original Lease as amended by this Amendment to Lease. <br />e. The account currently has $1,427.08 in late fees that will be waived and have <br />not been included in the overdue rent. If the tenant violates the amendment terms, late fees <br />will be restored to the account and the terms will revert from this Amendment to Lease to the <br />original Lease terms. <br />f. It is the express intention of the parties hereto that upon the expiration or <br />earlier termination of the Lease Term for any cause whatsoever, that Landlord be reimbursed <br />the total unpaid balance of all Overdue Rent at the Default Rate. <br />g. In the event of Tenant's failure to make the foregoing payments as and when <br />due pursuant to the terms hereof or any other default by Tenant under the Lease, or in the <br />
The URL can be used to link to this page
Your browser does not support the video tag.