ECKERD DRUGS #2935
MIAMI GARDENS PLAZA
Miami, Florida
ECKERD DRUG STORE --
NW. 186th St & NW 7th Ave
Miami Gardens
I N D E X
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SECTION PAGE
NUMBER SUBJECT NUMBER
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1 PREMISES 1
2 TERM 1
3 OPTION PERIODS 1
4 RENT 2
5 GROSS RECEIPTS 2
6 CONSTRUCTION AND DELIVERY 3
7 COMMON FACILITIES 4
8 INGRESS AND EGREE TO SHOPPING CENTER 5
9 SIGNS 5
10 MAINTENANCE AND REPAIRS 5
11 LIMIT OF LANDLORD'S OBLIGATION TO MAKE REPAIRS 6
12 TENANT'S RIGHT TO MAKE CHANGES 6
13 DAMAGE TO PREMISES 6
14 TITLE AND QUIET ENJOYMENT 7
15 ASSIGNING AND SUBLETTING 7
16 LIENS 7
17 LAW, REGULATIONS 7
18 INSURANCE 8
19 WAIVER OF SUBROGATION 8
20 DEFAULT 9
21 RENT UNDER DEFAULT 9
22 ENTRY OF LANDLORD 10
23 COMPLIANCE 10
24 TENANT'S RIGHT TO CURE LANDLORD'S DEFAULTS 10
25 NOTICES 10
26 LEASE SUBORDINATION 11
27 INDUCEMENT CLAUSE 11
28 EXCLUSIVE 11
29 ADDITIONAL SPACE 12
30 FOUNTAIN IMPROVEMENTS 12
31 SHORT FORM LEASE 12
32 EMINENT DOMAIN 12
33 OBLIGATION OF SUCCESSORS 13
34 SEVERABILITY 13
35 COMMON AREA MAINTENANCE 14
36 TAXES 15
37 FIRE & EXTENDED COVERAGE 16
THIS LEASE, made this _____ day of _______________________,
by and between CENTRUM G.A. II CORPORATION, hereinafter referred
to as the "Landlord," and JACK ECKERD CORP0RATION, a DELAWARE
corporation, hereinafter referred to as the "Tenant":
W I T N E S S E T H:
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SECTION 1. A. That the Landlord, for and in consideration
PREMISES of the covenants, conditions, agreements and stipulations herein
contained, does hereby lease unto the Tenant, and the Tenant
does hereby take and hire from the Landlord, those certain
premises consisting of a store room with area inside walls of
9504 s.f., as outlined in red on Exhibit "A" attached hereto
and made a part hereof, in a building to be constructed upon
property situated in the ___________, County of Dade, State of
Florida, described in Exhibit "B" attached hereto.
It is understood and agreed that the site plan attached to
the Lease as Exhibit "A", sometimes referred to in the Lease
as "plot plan," has not as of the signing hereof been approved
by Dade County or other required authorities. It is further
understood and agreed that the rights and obligations arising
under the Lease and this Rider are expressly conditioned upon
approval by Dade County, the Development Impact Committee, and
any other appropriate authority, of a site plan substantially
the same as the one contained in said Exhibit "A". Tenant
shall have the right to approve the final site plan after all
such approvals have been obtained, which approval may be
withheld by Tenant for any reason. Tenant shall have a period
of thirty (30) days from receipt of said final plan to approve
or disapprove of the same. If Tenant disapproves said plan,
Tenant shall have the right to cancel the Lease and may do so
within said time period by giving written notice to Landlord
of such disapproval, and upon the giving of such notice, the
within Lease shall cease, terminate, and come to an end. If
Tenant fails to notify Landlord of its disapproval of said
final site plan within said period of time, said final site
plan shall be deemed to have been approved by Tenant.
B. The premises being leased hereunder are hereinafter
referred to as the "leased premises" and are a portion of a
shopping center in existence or to be erected by the Landlord
on the lands described above, hereinafter referred to as the
"entire premises," which shopping center shall be designated
as MIAMI GARDENS PLAZA.
SECTION 2. A. To have and to hold said leased premises,
TERM together with all and singular the improvements and easements
thereunto belonging unto the Tenant for the period beginning as
provided in Section 4.A., and ending at midnight 20 years later.
B. Because of the admittedly seasonal aspect of Tenant's
business operations, it is mutually agreed that Tenant shall
not be obligated to initially open for business between March
15 and April 15, or between November 1 and January 31.
Minimum rental shall not begin to accrue until the end of
period if possession is made available to Tenant for initial
store opening during such times. The foregoing provisions
shall have no effect upon continued payment of rental
following Tenant's initial store opening.
C. Landlord and Tenant agree to execute, acknowledge and
deliver instruments to each other in recordable form
certifying as to the commencement date and termination date of
the lease herein.
SECTION 3. A. Tenant, if not in default, has the option to
OPTION renew this lease for 4 successive 5 years periods on the same
PERIODS terms and conditions herein contained, provided Tenant gives
Landlord six months notice of its election to exercise each
option prior to the end of the term hereof or extended term.
Should Tenant neglect to exercise above options on the date as
above specified, Tenant's right to exercise said options shall
not expire until fifteen (15) days after notice, by Landlord,
of Tenant's failure to exercise said options.
B. The Tenant will deliver up and surrender to the Landlord
possession of the leased premises upon the expiration or
termination of this lease, in as good condition and repair as
the same shall be at the commencement of said term (loss by
fire and ordinary wear and decay excepted).
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SECTION 4. A. Rent shall accrue hereunder 30 days after the
RENT leased premises are completed by the Landlord in accordance with
the provisions of this lease, and possession thereof has been
tendered to Tenant. Provided, if the Landlord fails to have
the building completed and ready for Tenant's occupancy on the
date established herein, then and in that event, the fixed
minimum rent established herein shall be abated equal to the
number of days of the Landlord's delay in presenting a
completed building. If Tenant opens for business prior to the
time fifty percent (50%) of the balance of the rentable floor
space in the Center has been leased to and opened for business
by tenants, including all tenants listed in Section 27 hereof,
then no minimum rental shall be in effect during this period.
If the Tenant is open for business during any period when
fixed minimum rent is abated as provided in this Section 4,
all gross receipts during such period shall be added to the
gross receipts of the first lease year for the purpose of
calculating additional rent, if any, as provided in Section
4.C.
B. Tenant shall pay to the Landlord at the address
hereinafter set forth:
For the first 6 years: $104.544.00 per year; $8,712.00 per month
For the next 8 years: $114.048.00 per year; $9,504.00 per month
For the next 6 years: $123,552.00 per year; $10,296.00 per month
For the remaining ___ years and any extensions thereof $________
per year; $__________ per month
in advance on the first day of each and every calendar month
during the term of this lease. If the term shall commence on
a day other than the first day of a month, then rent shall be
pro-rated for the balance of the said month on a per diem
basis.
C. The fixed annual rent as provided in Section 4B herein
shall be considered sufficient consideration for the term of
this leasehold. However, in addition to the payment of the
said fixed annual rental, Tenant covenants and agreed to pay
to Landlord as additional rental for each lease year of the
term hereof, on the gross receipts as hereinafter defined,
made in such lease year from the business or businesses
conducted on the leased premises, a sum equivalent to:
The amount by which two percent (2%) of gross receipts
exceeds the fixed annual rental paid by Tenant for such
lease year. Tenant shall pay any and all sales and use
taxes on any and all rental payments, fixed,
percentage, or otherwise.
D. For purposes of calculating the percentage rental due
hereunder, the Tenant's lease year shall commence the last
Sunday of January and end on the last Saturday of January of
the following year. Additional rental for first and last
lease years shall be apportioned.
SECTION 5. A. "Gross receipts" is hereby defined to mean
GROSS total receipts from all business conducted upon the leased
RECEIPTS premises for cash or credit except as follows:
B. Gross receipts shall not include: Sales of merchandise
for which cash has been refunded or allowance made; the sales
price of merchandise returned by customers for exchange; the
amount of any luxury,
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excise, sales, use or gross receipts tax imposed by any
Federal, State, municipal or governmental authority directly on
sales and collected from customers; sales of magazines,
newspapers; sales of stamps, money orders, operation of a sub-post
office (if any); discount sales to Senior Citizens; sales to
nursing homes and nursing home patients; merchandise transferred
between stores owned or controlled by the Tenant; discount sales
to employees of Tenant and its affiliates; discount
sales to doctors; fees derived from the professional services
of an Optometrist; all eyewear sold under an industrial safety
eyeglass program; one-half of the gross receipts collected
between the hours of midnight and eight o'clock in the morning;
charges made for customers' alterations and repairs; financing
or carrying charges of balances due on repossessed items and
trade-in allowances; gift wrapping charges; telephone
commissions; income from coin machines; postage and delivery
charges to customers; layaway items not paid for and not
delivered; the amount of any credit sales deemed uncollectible
by Tenant and income or similar tax based upon income or profit
as such shall be deducted from gross receipts.
C. The Tenant shall submit to the Landlord on or before the
sixtieth (60th) day following the end of each lease year a
statement signed by an officer of the Tenant showing the amount
of gross receipts during the preceding lease year. Upon delivery
of such statement, Tenant shall pay to the Landlord any
additional rent required by Section 4.C.
D. The Tenant shall make available to Landlord at Tenant's
Florida headquarters Tenant's business records of its gross
receipts for the preceding year. Not more than once each year,
Landlord may, at its own expense, examine and audit Tenant's
records for the sole purpose of ascertaining the amount of such
gross receipts from the leased premises during the preceding
lease year. Landlord shall notify Tenant and proceed with such
audit within ninety (90) days from receipt of Tenant's statement.
Should Landlord fail to examine and audit said records within
the above ninety (90) days period, Landlord shall have no further
right to access to the records of Tenant, and Tenant's statement
shall be final.
E. Landlord agrees that all information concerning Tenant's
affairs shall remain confidential, and shall not be divulged or
published by the Landlord, except to the mortgagee of the
premises.
SECTION 6. A. Landlord will at its own expense prepare
CONSTRUCTION detailed plans and specifications for construction in accordance
with guide plans furnished by Tenant. Landlord acknowledges
receipt of Tenant's guide plans heretofore delivered by
Tenant. Such construction plans (3 sets) shall be subject to
approval by the Tenant and initialled by the parties hereto
and considered a part hereof. If the Landlord elects to
proceed with construction prior to obtaining Tenant's approval
of construction plans, any changes required by the Tenant
shall be at the Landlord's sole cost and expense. All changes
made to the construction plans after both parties have
initialled such plans shall be at Tenant's expense
unless no additional structure or design fees are incurred and
substitution of materials do not increase construction cost.
The obligations of the Landlord and Tenant under this Lease
are expressly conditioned upon the construction plans and any
revisions of such plans being approved by all parties on or
before February 1990.
B. Landlord shall commence construction no later than
March 31st, 1990 and shall complete the premises, in
accordance with the approved plans and specifications no later
than 300 days from the date of commencement of construction,
provided that at least thirty (30) days prior to completion,
written notice has been given by the Landlord to the Tenant
that the said premises will be completed and ready for the
Tenant's occupancy. Landlord shall obtain from the authority
of jurisdiction the street address to be assigned to the leased
premises and provide the Tenant with this information in
writing no later than thirty (30) days after commencement of
construction. If construction is delayed for a period of six
(6) months from above date, plans shall be resubmitted for
approval prior to construction.
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C. The leased premises shall be deemed to have been
fully completed and ready and available for occupancy by
Tenant when all three of the following have been accomplished:
(a) a Certificate of Occupancy or an equivalent Use Permit is
obtained from and issued by the Governmental Authority having
jurisdiction; (b) the architect who prepared the plans and
specifications shall certify in writing to Tenant that the
leased premises have been substantially completed in accordance
with the plans and specifications approved by Landlord and Tenant
as set forth in this Section 6; (c) Landlord shall tender
possession of the leased premises to the Tenant with store
absolutely cleaned, including the cleaning and waxing of floors.
D. If the Landlord shall fail to commence construction or
deliver premises to Tenant, in the manner provided herein and
within the time limit set herein, then Tenant may, at its option
cancel this entire agreement by giving Landlord thirty (30) days
written notice of the default and Tenant's intent to cancel,
unless during such thirty (30) days, Landlord cures the default.
Acceptance by Tenant of delivery prior to the time limit set in
this lease shall be at the option of Tenant, such acceptance not
to be unreasonably withheld.
Anything in this agreement to the contrary notwithstanding,
neither Landlord nor Tenant shall be in default of the
performance of any provisions of this lease to the extent such
performance shall be delayed or prevented by strike, war, act of
God, or other cause beyond the control of party seeking to
excuse such performance.
E. At Tenant's sole risk, Landlord will afford Tenant
reasonable access to the leased premises prior to the
possession date aforesaid for the purpose of inspection,
measuring and installing or arranging for the installation
of fixtures, but only to the extent that such activity
proceeds without interfering with Landlord's contractors,
sub-contractors, and their respective employees. By giving
Tenant access to the leased premises prior to the possession
date, Landlord assumes no responsibility whatsoever for damage
to persons entering the leased premises, or injury to property
brought in, or upon. the leased premises, nor shall the
Landlord be entitled to any rent by reason of such access.
Tenant agrees to indemnify and hold Landlord harmless from and
against any damages or costs, including, without limitation,
reasonable attorney's fees and injury to person or property
occasioned by such access other than injuries to property or
person resulting from negligence of Landlord.
SECTION 7. A. Prior to the date of commencement of the
COMMON lease term, Landlord shall construct the sidewalks, service
FACILITIES drives, parking aisles, driveways, streets and parking area
(sometimes referred to as the "common facilities")
substantially as shown on Exhibit "A". The area provided for
the parking of automobiles shall be sufficient to accommodate
not less than 422 automobiles with spaces for each car, and
in all events, the number of parking spaces shall never be less
than 4.7 parking spaces for each 1,000 square feet of gross
leasable area. All sidewalks shall be concrete and all service
drives, parking aisles, driveways, streets and parking areas
shall be graded, levelled and paved with concrete or asphalt,
clearly marked with painted lines, repainted as required.
Landlord agrees there shall be unobstructed use of sidewalks,
driveways and roadways for automotive and pedestrian traffic to
and from Tenant's buildings and adjacent public streets and
highways. Landlord shall make no charge of any kind to
Tenant's customers for use of the common facilities or any
additions thereto. All of the common facilities, including any
signs owned or permitted by Landlord, shall be constructed in a
workmanlike manner and shall be maintained by Landlord, at its
sole cost and expense, in an adequate, sightly and serviceable
condition. Such maintenance shall include, without limitation,
keeping the same reasonably free and clear of foreign objects,
papers, debris, obstructions, standing water and supplying
adequate illumination during Tenant's business hours, and a
reasonable period prior and subsequent thereto. To assure the
foregoing, the Landlord shall: (1) cause the common facilities
to be thoroughly cleaned as required, and (2) promptly remove
refuse on every occasion where it impedes the use of said
facilities.
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B. Landlord shall maintain paved driveways at the rear of
Tenant's buildings in order to provide convenient public access
to the delivery or service entrances. Such driveways shall be
of sufficient width so as to permit the passage, unloading and
turning of trailer trucks and other commercial vehicles.
C. Landlord agrees that the parking lot will be ground
level only and will remain as shown on Exhibit "A" unless written
permission is obtained from Tenant for any change or alteration.
Landlord shall prohibit the placing of any buildings or the
conduct of any business on the parking lot.
SECTION 8. Landlord warrants as a consideration for this
INGRESS AND lease it will initially provide and maintain for the period of
EGRESS TO this lease and any extension thereof, ingress and egress
SHOPPING facilities to public highways in the number and substantially
CENTER the locations depicted on Exhibit "A", subject to unavoidable
temporary closings or relocations necessitated by public
authority or other circumstances beyond Landlord's control.
SECTION 9. A. The Landlord agrees that Tenant shall have
SIGNS the right at its own cost and expense to erect and maintain signs
advertising its business on the exterior of the leased premises.
Any signs erected by the Tenant shall be its standard capsule
and under-canopy signs as indicated on guide plans and
shall conform to the requirements of local ordinances.
B. Landlord shall not be required to erect a shopping center
identification pylon sign; however, if such a sign is erected or
replaced, and if any other tenant in the shopping center is
permitted to erect its sign upon the sign structure, Tenant shall
also be entitled to erect its standard capsule sign no less
prominently displayed than the signs of any other tenant.
If no such shopping center identification pylon sign is
erected or replaced, or if any other tenant displays its sign
upon a structure other than its building, Tenant may erect its
standard capsule pylon sign at its sole cost and expense
along the street frontage in front of its leased premises, in
which event Landlord shall extend electrical service from
Tenant's meter to sign location.
C. Landlord shall not, without Tenant's written consent, at
any time utilize or permit others to utilize the exterior of
Tenant's store unit, or the space above it, for sign display
purposes.
SECTION 10. A. The Tenant shall pay for all sewerage
MAINTENANCE disposal services, water, gas, heat, electric current and other
AND REPAIRS utilities furnished it or consumed by it, in or upon the leased
premises at rates set by local public utility as approved by
Public Authority having jurisdiction, and will keep the
interior of the leased premises and appurtenances in good
order and repair, and in a clean, safe and healthy condition
(excepting, however, all repairs made necessary by reason of
fire or other unavoidable casualty) at its own cost and expense.
B. The Landlord shall, at its own cost and expense,
maintain in good condition the exterior of the building, the
roof and structural members of the building of which the
leased premises form a part, and any water, gas or electrical
lines or conduits permanently embedded in walls or floor, and/or
in the alternative, installed above the ceiling in cold-weather
areas. However, if any of the aforementioned repairs are made
necessary by reason of Tenant's use/occupancy of the leased
premises in any manner inconsistent with the reasonable use and
occupancy thereof, or by reason of alterations made by the
Tenant, such repairs shall be made by the Tenant at its own
cost and expense.
C. In the event the need for emergency repair arises, and
such repairs are the obligation of the Landlord, Tenant, at its
sole discretion, may proceed to have such repairs promptly made
and after sixty (60) days deduct the cost of such repairs
from rentals due or to become due.
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SECTION 11. The Landlord shall not be liable for any
LIMIT OF damages from plumbing, gas, water, steam or sewage leaks or
LANDLORD'S stoppage, nor for damage arising from acts of negligence of
OBLIGATION co-tenants or other occupants of the same building, or any
TO MAKE owners or occupants of adjoining contiguous property,
REPAIRS unless such damage is occasioned by the negligence of the
Landlord, or its agents or contractors.
SECTION 12. A. The Tenant at its own expense during the
TENANT'S term of the Lease may make any alterations or additions to the
RIGHT TO leased premises which it may deem necessary, except structural
MAKE and exterior changes unless approved by the Landlord, but it
CHANGES shall make them in accordance with all applicable
governmental regulations. All salvage from such work shall
belong to the Tenant. All permanent improvements shall belong
to the Landlord.
B. At any time after the end of the fifteenth year of
the lease term and provided there remains no less than ten (10)
years of unexpired term or extension thereof, the Tenant may
at its sole cost and expense remodel the leased premises.
One-half of the Tenant's total costs of such remodelling
shall become a credit against percentage rents (provided in
Section 4C.) which may accrue during the three (3) consecutive
lease years ending after the completion of such remodelling;
provided, however, that such refurbish shall be limited to
the reconditioning of the leased premises, the scope and
overall budget for which shall be approved by the Landlord whose
consent shall not be unreasonably withheld or delayed.
C. If Tenant is not in default of the terms of this lease,
all trade fixtures and equipment and other personal property
owned by Tenant and installed or placed by it upon the leased
premises, may be removed by the Tenant at any time during the
term or on the expiration thereof. Tenant agrees to repair any
damage to the building occasioned by such removal.
SECTION 13. A. Landlord agrees to insure the "entire
DAMAGE TO premises" against loss by fire or disaster, to at least 80% of
PREMISES the full replacement value thereof. A copy of such policy or
certificate thereof shall be furnished to Tenant upon request.
In the event any building on the entire premises be partially
damaged, or totally destroyed by fire, or disaster, the Landlord
shall promptly cause the same to be substantially restored.
If the premises of any inducement tenant in Section 27 be so
damaged or destroyed, fixed rent (Section 4B.) shall abate and
Tenant shall pay rent equal to 2% of gross receipts until the
building shall have been restored and the inducement tenant
shall have reopened for business, at which time rent shall be
paid as set forth in Section 4B. and 4C.
B. In the event the leased premises be so damaged or
destroyed, Landlord shall promptly cause same to be
substantially restored, subject to such changes as the
Tenant may reasonably require (provided that such changes
will not increase the cost of restoration unless Tenant
agrees to pay for such increased cost). Due allowance
shall be made for a: (1) reasonable time necessary
(not to exceed 90 days) for the Landlord to adjust the
loss with insurance companies, and (2) delay occasioned
by strikes, lockouts, and conditions beyond the reasonable
control of the Landlord. If in the sole judgment of
the Tenant the extent of the damage is such that immediate
emergency repairs are necessary to protect its business and
personal property in order to continue operations, the Tenant
shall have the right to make such emergency repairs. The
Landlord shall reimburse the Tenant for its total cost and
expense of such repairs. If the Landlord fails to make such
reimbursement within 60 days after demand, Tenant shall have
the right to recover such sums out of rents due or to become
due. In the event of a substantial destruction of the
leased premises, and the Landlord fails to indicate its
intent within thirty (30) days to commence construction and
completely restore and rebuild the same promptly, Tenant may at
its option, and upon written notice, cancel this lease, in which
event neither party shall thereafter have any further obligation
with respect to the other.
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C. Should the leased premises, or a portion thereof, be
rendered untenantable by fire, or disaster, then the rent shall
abate in proportion to the areas of the leased premises rendered
untenantable from the date of the damage to the date of
restoration of the premises. No rent shall accrue for any
portion of the premises unless Tenant is able to conduct its
usual business on that portion of the premises that remains
tenantable. If such damage occurs during the last two (2) years
of the term and the cost of restoration amounts to more than
one-third (1/3rd) of the replacement value of the building, as
certified to by a registered architect, Landlord and Tenant shall
each have the right to terminate this lease by written notice to
the other given within thirty (30) days after such occurrence,
unless the Tenant shall elect to renew this lease for an
additional period of ten (10) years. If, at the date of the fire
or disaster, the Tenant shall have paid any rent in advance, the
Tenant shall be entitled to a proportionate refund.
SECTION 14. Landlord warrants that it has full right and
TITLE AND title to execute and perform this lease. So long as the Tenant
QUIET is not in default, the Landlord agrees that it will not permit
ENJOYMENT the disturbance of, nor interference with, the Tenant's quiet
enjoyment of the leased premises.
SECTION 15. Tenant shall have the right at any time
ASSIGNING with the consent of Landlord to sublet, transfer or assign
AND this Lease to any person or company provided: The use
SUBLETTING made of such premises by such assignee does not conflict with
any then current exclusive rights or privileges for the rendering
of services, or the sale of products theretofore granted by
the Landlord in existing leases for other parts of any
shopping center of which the leased premises may form a part.
It being further provided, however, that no subletting or
assigning shall be for a use which does not conform with uses
which are characteristic of the same type of Shopping Center
as Shops at Hialeah and conform with applicable codes.
Notwithstanding the foregoing, if the Tenant shall desire to
sublet or assign this lease, the Tenant shall give the
Landlord 30 days written notice of such intent and upon such
notice, the Landlord shall have the right to cancel this Lease
within said 30-day period. In any event, this Lease may be
assigned, or the demised premises may be sublet, in whole or
in part, to any corporation into or with which Tenant may be
merged or consolidated or to any corporation which shall be an
affiliate, subsidiary, parent or successor of Tenant, or of a
corporation into or with which Tenant may be merged or
consolidated, or to a partnership, the majority interest in
which shall be owned by stockholders of Tenant or of any such
corporation, or to a corporation to which Tenant sells his
assets. In such event, Tenant shall not be relieved of its
obligations under this lease.
As condition precedent to any assignment or subletting,
Tenant, and the guarantor hereof, must guarantee all obligations
of the Tenant hereunder.
SECTION 16. When completed, the premises shall be free and
LIENS clear of all claims of liens by mechanics and materialmen for and
on account of labor and materials furnished in and about said
construction by Landlord. Thereafter, if any mechanic's or other
liens, or order for the payment of money arising through the
fault of either party, shall be filed against the leased premises
or additions, alterations or extensions thereto, such party shall
cause the same to be cancelled and discharged of record, by bond
or otherwise, and shall also defend and pay damages and attorney
fees, if any, on behalf of the other, for any action, suit or
proceeding which may be brought thereupon for the enforcement of
such lien, liens or orders. Upon failure of defaulting party so
to do, the other may, after 30 days notice, do so on defaulting
party's behalf, and all sums thereby expended by the other shall
on demand be paid to him by party in default.
SECTION 17. Subject to the provision that this section
LAW, shall not be applicable to the roof and/or structural parts,
REGULATIONS or water, gas or electrical lines or conduits permanently
embedded in walls or floors to exterior of the leased premises,
Tenant agrees to comply with all orders, rules, regulations
and requirements of any governmental body relating to the manner
of Tenant's use and occupancy of the leased premises, or
alterations made by the Tenant, and the Tenant will pay all
costs and expenses incidental to such compliance, and will
indemnify and save harmless the Landlord therefrom. Should
the Tenant fail to comply with any of the provisions contained
in this section, the Landlord may, after ten (10) days notice
to the Tenant, comply therewith, and Landlord's cost and
expense of so doing may be charged against the Tenant,
becoming due upon demand.
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SECTION 18. A. Tenant, in its name and at its own
INSURANCE expense, shall procure and continue in force, general liability
insurance against damages occurring in the leased premises during
the term of this lease. Such insurance shall be in an amount not
less than One Million ($1,000,000) ($500,000) Dollars for
injuries to persons in one accident, and not less than Five
Hundred Thousand ($500,000) Dollars for injury to any one person,
and One Hundred Thousand Dollars ($100,000) for damage to
property. Such insurance shall name the Landlord as additional
insured and shall be written in a company or companies authorized
to engage in the business general liability insurance in the
state in which the leased premises are located.
B. Tenant covenants to keep in good order and repair the
plate glass in the leased premises, and replace all broken glass
with same quality as that broken. Should damage or breakage
occur due to fire, windstorm, or structural fault, or due to the
fault or neglect of the Landlord, thereupon the responsibility
for replacement shall be that of the Landlord.
C. The policies of insurance herein are to be procured by
the Tenant, and should be for a period of not less than one year.
Fifteen (15) days prior to the expiration of any policy of
insurance, the Tenant will procure a renewal or new policy to
replace the policy expiring. Should the Tenant fail to procure
said policies at the times herein provided, the Landlord may
obtain such insurance, and the premiums shall be deemed an
assessment to be paid by the Tenant unto the Landlord upon
demand.
D. Should the Tenant desire to carry above coverages
together with other property owned or controlled by the Tenant
and/or affiliated companies, such shall be deemed compliance with
the Tenant's obligations under this section, as to both original
coverage and renewals.*
E. If, by reason of the failure of the Tenant to comply
with the provisions of this lease, the fire insurance rate for
the building of which the leased premises form a part be
increased or be higher than it would otherwise, then the Tenant
covenants and agrees to pay on the first day of the following
month that part of the insurance premiums thereafter paid by the
Landlord, which shall have been paid because of such violation by
the Tenant.
F. The Landlord agrees to indemnify and save harmless the
Tenant from and against any and all claims and demands whether
from injury to person or loss of life, or damage to property
occurring within the Entire Premises (excluding the leased
premises), excepting, however, such claims or demands as may
result from any injury or damage caused by acts or omissions of
the Tenant.
SECTION 19. A. Tenant hereby agrees not to assign to any
WAIVER OF insurance company any right or cause of action for damage to
SUBROGATION the property of Tenant located on above described premises
which Tenant now has or may subsequently acquire against
Landlord during the term of the above described lease, and
expressly waives all rights of recovery for such damage.
B. Landlord hereby agrees not to assign to any insurance
company any right or cause of action for damages to the property
of Landlord located on the above described premises which
Landlord now has or may subsequently acquire against Tenant
during the term of the above described lease, and expressly
waives all rights of recovery from such damage.
* In this event Tenant will provide Landlord with a Certificate of
Insurance naming Landlord as an additional loss payee as his interest may
appear.
-8-
C. It is specifically understood this agreement shall only
apply where such insurance as described herein allows the insured
to enter into an agreement waiving recovery rights and this
agreement shall apply only as respects insured loss to the
property described herein.
SECTION 20. A. Each of the following shall be deemed a
DEFAULT default by the Tenant and a breach of this lease:
1. Any of the following which shall result in final
adjudication against Tenant:
a) The filing of a bankruptcy petition by or against the
Tenant for adjudication, reorganization, or arrangement.
b) Any proceedings for dissolution or liquidation of the
Tenant.
c) Any assignment for the benefit of Tenant's creditors.
2. Failure to: (a) pay rent for a period of fifteen (15)
days after receipt of notice; or (b) perform any other covenant
or condition of this lease.
B. In the event of any default of Tenant, the
Landlord shall serve written notice upon the Tenant that
Landlord elects to terminate this lease upon a specified date
not less than thirty (30) days after the date of serving of
such notice except as provided in this Section. This lease
shall then expire on the date so specified as if that date had
been originally fixed as the expiration date of the term
herein granted unless steps have, in good faith, been
commenced promptly by the Tenant to rectify the same, and
prosecuted to completion with diligence and continuity. If
the matter in question shall involve building construction,
and if the Tenant shall be subject to unavoidable delay by
conditions beyond the control of the Tenant, the Tenant's time
to perform shall be extended for a period commensurate with
such delay.
C. Upon termination of this lease for Tenant's default,
the Landlord or its agents may immediately or at any time
thereafter, re-enter and resume possession of said
premises and remove all persons and property therefrom, either
by summary dispossess proceedings or by a suitable action or
proceeding at law, or by force or otherwise, without being
liable for any damages therefor. No re-entry by the Landlord
shall be deemed an acceptance of a surrender of this lease.
Thereafter, Landlord may in its own behalf, relet any portion
of said premises for any period of the remaining term, for any
reasonable sum to any reasonable tenant and any reasonable use
or purpose. In connection with any such reletting, the
Landlord may make such changes on the premises and may grant
such concessions of free rent as may be reasonably
appropriate or helpful in effecting such lease.
D. Landlord shall not be liable in any manner, nor shall
Tenant's obligations hereunder be diminished by any failure of
Landlord to relet the premises, or in the event of reletting to
collect rent.
SECTION 21. A. In the event this lease be terminated for
RENT Tenant's default, the Landlord shall be entitled to recover from
UNDER the Tenant, in addition to any damages becoming due hereunder,
DEFAULT the following:
B. An amount equal to the amount of all rents reserved
under this lease, less the net rent, if any, collected by the
Landlord on reletting the demised premises, which shall be due
and payable, by the Tenant to the Landlord on the several days
on which the rents reserved in this lease
-9-
would have become due and payable. Net rent collected on
reletting by the Landlord shall be computed by deducting from
the gross rents collected all expenses incurred by the Landlord
in connection with the reletting of the premises, including
broker's commission and the cost of repairing, renovating or
remodelling said premises, but not including the cost of
performing any covenant required to be performed by Landlord.
C. In the event of termination upon Tenant's default, the
annual rent to be paid by the Tenant to the Landlord shall
(for the purpose of this Section) be deemed to be a sum equal
to the average total rent for the immediate preceding three
(3) lease years. In the event the Tenant has been in
possession of the leased premises for a lesser period, then
the monthly rental shall be deemed to be a sum equal to the
average rent which became due from the Tenant from the
commencement of the term of this lease, and ending on the date
of termination.
SECTION 22. The Landlord may at reasonable times
ENTRY OF inspect, alter or repair the leased premises when necessary for
LANDLORD its safety or preservation. He may show the premises to others
at any reasonable time within six months immediately preceding
the expiration of said term and may affix a notice for letting
or selling the premises to any suitable part of the premises,
except show windows or entrances.
SECTION 23. Should either Landlord or Tenant fail to
COMPLIANCE comply with any of the terms of this lease, each may,
after thirty (30) days notice to the other, comply therewith,
but each shall not be obligated to do so. The cost of such
compliance shall be payable upon demand by the non-complying
party to the performing party.
SECTION 24. In the event Landlord shall neglect to pay
TENANT'S when due any taxes or any obligations on any mortgage or
RIGHT encumbrance affecting title to demised premises and to which
TO CURE this lease shall be subordinate, or shall fail to perform any
LANDLORD'S obligation specified in this lease, then Tenant may, after the
DEFAULTS continuance of any such default for fifteen (15) days after
written notice thereof by Tenant, pay said taxes, assessments,
principal, interest or other charges and cure such default,
all on behalf of and at the expense of Landlord, and do all
necessary work and make all necessary payments in connection
therewith, and Landlord shall on demand pay Tenant forthwith
the amount so paid by Tenant, and Tenant may withhold any and
all rental payments and other payments thereafter due to
Landlord and apply the same to the payment of such
indebtedness. Upon the continuance of any such default for
thirty (30) days after notice thereof by Tenant, or failure
during this period to repay Tenant for money expended on
behalf of Landlord pursuant to this article, Tenant may
terminate and cancel this lease at any time thereafter.
SECTION 25. All notices and rental checks shall be
NOTICES forwarded to the Landlord in care of CENTRUM G.B.II CORPORATION
One Centrum Plaza 1 S.W. 129th Ave., Suite 307, Pembroke Pines,
FL 33027 until Tenant is notified otherwise in writing. All
notices given to the Tenant hereunder shall be forwarded to
Tenant at JACK ECKERD CORPORATION, STORE # , P. 0. BOX 4689,
CLEARWATER, FL 33518, until Landlord is notified otherwise in
writing. Notices to each shall be certified mail, return receipt
requested.
-10-
SECTION 26. A. Tenant agrees to subordinate this lease
LEASE SUB- to any first mortgage or blanket mortgage placed on the
ORDINATION shopping center, provided only that so long as Tenant faithfully
discharges its obligations under the terms of this lease: (1)
its tenancy will not be disturbed, nor this lease affected by
any default under such mortgage; (2) the right of Tenant
hereunder shall expressly survive and shall not be cut off;
and (3) this lease shall, in all respects, continue in full
force and effect.
B. If the Landlord is in full compliance with the
provisions of this lease, Tenant will, upon demand, without
cost execute any instrument necessary to effectuate such
subordination. If Tenant, within fifteen (15) days after
submission of such instrument fails to execute the same,
Landlord is hereby authorized to execute same as
attorney-in-fact for the Tenant.
SECTION 27. A. The Landlord covenants and agrees that it
INDUCEMENT has induced Tenant to execute and deliver this lease by Landlord's
CLAUSE representation that the following tenants, will prior to
construction of leased premises, enter into at least a 20 year
non-cancellable lease in said shopping center in the location
and of the general size and area as shown on Exhibit "A":
PUBLIX SUPERMARKETS - 42,600 s.f. 20 years
B. Anything to the contrary notwithstanding, should
Landlord fail to erect for and deliver store space to the
aforementioned tenants on or before occupancy by Tenant, then
Tenant shall have further right, at his option, to cancel this
lease.
C. At the time Landlord delivers possession of the leased
premises, the tenants referred to above shall have taken
possession of the store rooms as shown on Exhibit "A". This
shall not preclude any later increase in the sizes of such
premises provided the locations and the front lines of the
stores are not changed, and such change does not violate any
other requirements of this lease. Should any of the
aforementioned tenants cease to operate for a consecutive
period of ninety (90) days (unless for reasons beyond their
control), Tenant may cancel his lease by giving thirty (30)
days notice of intention to do so.
SECTION 28. A. Tenant agrees that it shall use and occupy
EXCLUSIVE the premises as a drug store, which may include an Express
Photo and/or photo processing center, and an Optical Center
for the practice of Opticianry and Optometry.(With the
exception of Publix Supermarket, or their franchisee or
assignee, so long as the principal business is that of a
supermarket.) Tenant may also sell beer and wine for
off-premises consumption. Landlord agrees that Tenant shall
have the exclusive right during the term of this lease or any
extension or renewal hereof, to operate a drug prescription
department in said shopping center.
B. Except as specifically shown on Exhibit "A". Landlord
agrees that no lease will be entered in the above shopping
center or any extensions thereof with any type stores commonly
known as army-navy store, surplus store, or non-categorized
discount store, or with any stores or businesses devoting more
than 1,000 square feet of their retail floor area to the sale
of cosmetics, health and beauty aids and related items without
the express written consent of Tenant.
C. Landlord further agrees that it will not directly or
indirectly lease, rent or sell any property located within the
shopping center, or within 1,000 feet of any exterior boundary
thereof, for occupancy as a drug store or any of the
businesses mentioned in paragraph B. above without written
permission of the Tenant. If the mortgagee becomes the
Landlord, the provisions of this Section 28.C. shall not apply
so long as it shall remain the Landlord.
-11-
SECTION 29. The Tenant shall have the right at such
ADDITIONAL time or times as the Tenant designates to require the Landlord
SPACE at the Landlord's expense to construct in whole or in part any
additional sales or storage space designated on Exhibit "A" as
"Future Expansion Area." All such construction shall be of
type provided in the original plans and specifications and the
costs shall include the expense attendant to changing or
moving existing walls and utilities, interior painting and
such other work which may be required to make such additional
space available for occupancy by the Tenant. Upon completion
of the construction and changes and the occupancy by the
Tenant of the additional area, the minimum annual rental, if
any, provided for in Section 4. hereof shall be increased by
an amount not to exceed twelve (12%) percent of the actual
cost of construction, excluding cost of site work.
SECTION 30. Throughout the term of this lease and any
FOUNTAIN extensions thereof, the Tenant shall have the right, at its sole
IMPROVEMENTS cost and expense to do all things necessary to install a
fountain--luncheonette within the leased premises. If gross
receipts from business conducted in the leased premises,
exclusive of fountain sales, are sufficient to require payment
of additional rent under Section 4.C., then 2% of fountain
sales shall be credited against Tenant's total cost of
construction of the fountain-luncheonette (excluding
furnishings and fixtures) until such construction cost is
fully recovered.
SECTION 31. The parties hereto do mutually agree, if
SHORT FORM either party hereto shall so request, a short form of this
LEASE lease will be executed for the purpose of recording.
SECTION 32. A. In the event all of the leased premises
EMINENT shall be appropriated or taken under the power of eminent domain
DOMAIN by any public or quasi-public authority, this lease shall
terminate and expire as of the date of such taking and the
Tenant shall thereupon be released from any further liability
hereunder.
B. In the event more than ten percent (10%) of the
leased premises or more than twenty percent (20%) of the
entire premises shall be appropriated or taken under the power
of eminent domain by any public or quasi-public authority,
Landlord shall immediately notify Tenant of such taking. The
Tenant shall have the right to terminate and be entirely
released from this lease as of the date of such taking upon
giving to the Landlord notice in writing of such election
within thirty (30) days after the receipt by the Tenant from
the Landlord of written notice that said premises have been so
appropriated or taken.
C. If this lease is terminated in either manner herein
provided, the rent for the last month of the Tenant's
occupancy shall be prorated and the Landlord agrees to refund
to the Tenant any excess rent paid in advance.
D. If this lease shall not be terminated, as in this
paragraph provided, but shall continue as to that portion of
the leased premises which shall not have been appropriated or
taken, the Landlord, at its
-12-
own expense, agrees to proceed with due diligence to restore
the leased premises remaining to a complete unit of like
quality and character as existed prior to such appropriation or
taking. All rent shall be abated pro rata in the ratio that
the useable ground floor area of the part of the building taken
bears to the ground floor area of the building which was
included with the leased premises before such taking.
OBLIGATION SECTION 33. All of the provisions hereof shall bind and
OF inure to the benefits of the parties hereto, their respective
SUCCESSORS heirs, legal representatives, successors and assigns.
SECTION 34. If any term or provision of this lease or
SEVERABILITY the application thereof to any person or circumstances shall, to
any extent, be invalid or unenforceable, the remainder of
this lease, or the application of such term or provision to
persons or circumstances other than those as to which it is
held invalid or unenforceable, shall not be affected thereby,
and each term and provision of this lease shall be valid and
be enforced to the fullest extent permitted by law.
-13-
SECTION 35. Prior to the due date of Tenant's annual report
COMMON AREA of sales and rent, Landlord shall present to Tenant invoices
MAINTENANCE authenticating Landlord's cost of annual maintenance of the common
areas and parking lot described in Section 7. for the preceding
year. Tenant agrees to reimburse Landlord for its proportionate
share of said charges annually.
One-half (1/2) of any payments made by Tenant to Landlord
under this clause shall be a non-cumulative credit against any
percentage payments due under this Lease Agreement during its term
or any renewals thereof.
However, if the property is not maintained properly
by Landlord as to cleaning and striping, then Tenant has the
right, after giving Landlord thirty (30) days notice in writing
to correct same, to order and pay for the necessary maintenance
needed in front of Tenant's store and bill the cost thereof to
Landlord. If Landlord does not pay Tenant within thirty (30)
days of receipt of the charges, then Tenant may deduct the sum
from the rental due or to become due.
-14-
SECTION 36. Tenant shall reimburse the Landlord for Tenant's
TAXES proportionate share of general real estate taxes for the entire
premises (excluding special assessments) paid by Landlord. The
amount of each year's tax bill to be used in such computation
shall be the net amount of taxes payable in the first tax payment
month. The first tax year shall be the full tax year after the
entire premises as shown on the attached plot plan are completed
and ready for occupancy. Tenant's proportionate share shall be in
the ratio which the 9504 square foot leased premises bears to the
total number of square feet of all rentable areas included in the
buildings comprising the entire premises.
In any expansion of the demised premises, the tax base for
the expansion area will be established by the same formula as
that used in the first instance.
Landlord agrees to pay all taxes before delinquency, and
Tenant shall not be obligated to pay any portion of any penalty
for delinquent payment. Tenant agrees to reimburse Landlord
within thirty (30) days after proof of payment has been tendered
to Tenant by Landlord. Any payment due hereunder shall be
prorated as of the termination or expiration date of this Lease
Agreement.
One-half (1/2) of any payments made by Tenant to Landlord
under this clause shall be a non-cumulative credit against any
percentage payments due under Section 4.C. of this Lease Agreement
during its term or any renewals thereof.
-15-
SECTION 37. During the term of this lease or any extension
FIRE AND or renewals thereof, the Landlord shall keep the leased premises
EXTENDED insured against fire, with extended coverage and "all risk"
COVERAGE endorsement and replacement cost endorsement covering the building
and all insurable improvements on the leased premises, except for
Tenant's personal property. Within sixty (60) days following the
end of each lease year, the Landlord shall present to Tenant an
invoice authenticating Landlord's cost of said insurance covering
the leased premises, and Tenant agrees during the term of this
lease or any extension or renewals thereof to pay to Landlord
its prorata share of the cost of such insurance within thirty (30)
days. However, in no event shall the Tenant's payment exceed what
Tenant would normally pay for the same coverage in equal companies,
if Tenant were to insure the leased premises.
Any payments of insurance made by Tenant to Landlord under this
clause shall be a non-cumulative credit against any percentage
payments due under Section 4.C. of this Lease Agreement during its
term or any renewals thereof.
SECTION 38. At any time upon the request of Landlord, Tenant
shall execute and deliver written fifteen (15) days from said
request, an estoppel letter in a form acceptable to Landlord and
Tenant, and state that no default exists on the part of the Landlord
except as may be specified in said estoppel letter.
SECTION 39. Tenant covenants and agrees to open its store for
business for one day following the date Tenant would be required to
commence paying rent under Section 4.A. hereof. Such opening
requirement will, however, be subject to force majeur and other
unavoidable delays occasioned by the failure of Tenant's suppliers
to deliver inventories of goods and trade fixtures in a timely
manner.
However, following said opening day, nothing contained in this
Lease Agreement shall be construed to require Tenant to keep its
store open for business. If Tenant elects to close the demised
premises for business and the demised premises are not reopened for
business by Tenant, or any assignee or sublessee of Tenant, within
a period of six months from the date the demised premises are
closed, then Landlord, at its option, may cancel this lease upon
written notice to Tenant. In the event Landlord elects to cancel
this lease, all liabilities of Landlord and Tenant shall terminate
as of the date of such cancellation.
SECTION 40. The obligations of the Landlord under this Lease
Agreement are expressly conditioned upon receipt by Landlord of a
valid and binding unconditional guaranty of the terms and conditions
of this Lease by the Jack Eckerd Corporation.
-16-
The captions in this lease are for convenience only and are not a part
of this Lease and do not in any way limit or amplify the terms and provisions
of this Lease. Throughout this lease, whenever the consent or approval of
either party is required, such consent or approval shall not be unreasonably
withheld or delayed. This Lease shall be construed in accordance with
applicable Florida law.
IN WITNESS WHEREOF, the parties hereto have caused these presents to be
signed in their respective names by their respective officers, the day and
year first above written.
"LANDLORD"
CENTRUM G.B. II CORPORATION
WITNESSES:
/s/ By /s/ Larry Golinsky
- ------------------------------------ ------------------------------------
Exec. Vice President
/s/ Attest /s/ Adele Spallone
- ------------------------------------ ---------------------------------
As to "Landlord" Assistant Secretary
"TENANT"
JACK ECKERD CORPORATION
/s/ By /s/ Harry Lambert
- ------------------------------------ ------------------------------------
Sr. Vice President
/s/ Attest /s/ Jackie Post
- ------------------------------------ ---------------------------------
As to "Tenant" Secretary
STATE OF FLORIDA
COUNTY OF BROWARD
Before me, the undersigned authority, on this day personally appeared
Larry Golinsky and Adele Spallone as Executive Vice President and Assistant
Secretary, respectively, of CENTRUM G.B. II CORPORATION, known to me
to be the persons whose names are subscribed to the foregoing instrument,
and acknowledged to me that they executed the same for the purpose therein
expressed as the act and deed of said corporation and in the capacity therein
stated.
Given under my hand and seal of office, this 2 day of November, 1989.
/s/
MY COMMISSION EXPIRES: ----------------------------------
Notary Public
NOTARY PUBLIC STATE OF FLORIDA
MY COMMISSION EXP. DEC. 29, 1989
BONDED THRU GENERAL INS. UND.
STATE OF FLORIDA
COUNTY OF PINELLAS
Before me, the undersigned authority, on this day personally appeared
Harry Lambert and Jackie Post, as Sr. Vice President and Secretary,
respectively, of JACK ECKERD CORPORATION, known to me to be the persons
whose names are subscribed to the foregoing instrument, and acknowledged to me
that they executed the same for the purpose therein expressed as the act and
deed of said corporation, and in the capacity therein stated.
Given under my hand and seal of office, this 18th day of December, 1989.
/s/
MY COMMISSION EXPIRES: ----------------------------------
Notary Public
NOTARY PUBLIC STATE OF FLORIDA
MY COMMISSION EXP. NOV. 1, 1993
BONDED THRU GENERAL INS. UND.
EXHIBIT "B"
That portion of Tracts 41, 42 and the South 55 feet of Tract 43 of Section
3, Township 52 South, Range 40 East of "FLORIDA FRUIT LANDS COMPANY'S
SUBDIVISION NO. 1", according to the Plat thereof as recorded in Plat Book 2
at page 17 of the Public Records of Dade County, Florida, less the South 55.00
feet of said Section 3 for right-of-way purposes; said portions of Tracts 41
and 42 and the South 55 feet of Tract 43 being more fully described as
follows:
Commence at the Southwest corner of said Section 3; thence North 00 degrees,
03 minutes, 56 seconds West along the West line of said Section 3 for 55.04
feet; thence South 87 degrees, 48 minutes, 34 seconds East along a line
parallel with and 55.00 feet North of the Southerly line of said Section 3
for 15.01 feet to POINT OF BEGINNING of the hereinafter described parcel of
land; thence North 00 degrees, 03 minutes, 56 seconds West along a line
parallel with and 15.00 feet East of the West line of said Section 3 for
660.42 feet; thence South 87 degrees, 48 minutes, 44 seconds East along a
line parallel with and 55.00 feet North of the Southerly line of said Tract
43 for 685.53 feet; thence South 00 degrees, 03 minutes, 56 seconds East
along a line parallel with and 700.00 feet East of the West line of said
Section 3 for 660.45 feet to a point on the Northerly right-of-way of N.W.
186th Street (Miami Gardens Drive) as recorded in Official Records Book
8364, at page 784 of the Public Records of Dade County, Florida; thence
North 87 degrees, 48 minutes, 34 seconds West along said Northerly right-of-
way line for 685.53 feet to the POINT OF BEGINNING.
Lying and being in Dade County, Florida.
ECKERD STORE # 2936
JACK ECKERD CORPORATION
ESTOPPEL CERTIFICATE
Date July 19, 1991
RE: Lease dated 12/18/89 between:
Stiles Hunt Properties, Landlord
and
Jack Eckerd Corporation, Tenant
Location: Garden Square S/C Lease Modified: N/A
Miami Gardens, FL
Ladies and/or Gentlemen:
The undersigned, as the present owner and holder of the Tenant's interest
under the aforesaid Lease, hereby confirms the following to the best of its
knowledge:
1. That it has accepted possession of the premises demised pursuant to the
terms of the aforesaid Lease.
2. That the improvements and space required to be furnished according to the
said Lease have been completed and have been found to be satisfactory.
3. That the Landlord has fulfilled all of its duties of an inducement nature
including the parking requirements as set forth in the Lease.
4. That the aforesaid Lease has not been modified, altered or amended except
as noted herein.
5. That there are no off-sets or credits against rentals, nor have rentals
been prepaid except as provided by the Lease terms, but in no event have
rentals been paid more than thirty (30) days in advance.
6. That the Landlord, as of this date, is not in default under any of the
terms of said Lease.
7. That said Lease commenced on the 18th day of July, 1991. The primary Lease
term expires on the 17th day of July, 2011.
8. That it has no notice of prior assignment, hypothecation or pledge of
rents of the Lease.
9. That no claim of amendment, modification or waiver of any of the terms and
conditions of the Lease shall be made against the undersigned, its
successors or assigns, as a result of any statement or representation
contained in this Estoppel Certificate.
JACK ECKERD CORPORATION
By: /s/ Robert D. Boos
-------------------------------
(Name and Title)
Robert D. Boos, Vice President
8333 Bryan Dairy Road, P. O. Box 4689
Clearwater, FL 34618
(813) 398-8305
ECKERD STORE # 2936
JACK ECKERD CORPORATION
ESTOPPEL CERTIFICATE
Date July 19, 1991
RE: Lease dated 12/18/89 between:
Stiles Hunt Properties, Landlord
and
Jack Eckerd Corporation, Tenant
Location: Garden Square S/C Lease Modified: N/A
Miami Gardens, FL
Ladies and/or Gentlemen:
The undersigned, as the present owner and holder of the Tenant's interest
under the aforesaid Lease, hereby confirms the following to the best of its
knowledge:
1. That it has accepted possession of the premises demised pursuant to the
terms of the aforesaid Lease.
2. That the improvements and space required to be furnished according to the
said Lease have been completed and have been found to be satisfactory.
3. That the Landlord has fulfilled all of its duties of an inducement nature
including the parking requirements as set forth in the Lease.
4. That the aforesaid Lease has not been modified, altered or amended except
as noted herein.
5. That there are no off-sets or credits against rentals, nor have rentals
been prepaid except as provided by the Lease terms, but in no event have
rentals been paid more than thirty (30) days in advance.
6. That the Landlord, as of this date, is not in default under any of the
terms of said Lease.
7. That said Lease commenced on the 18th day of July, 1991. The primary Lease
term expires on the 17th day of July, 2011.
8. That it has no notice of prior assignment, hypothecation or pledge of
rents of the Lease.
9. That no claim of amendment, modification or waiver of any of the terms and
conditions of the Lease shall be made against the undersigned, its
successors or assigns, as a result of any statement or representation
contained in this Estoppel Certificate.
JACK ECKERD CORPORATION
By: /s/ Robert D. Boos
-------------------------------
(Name and Title)
Robert D. Boos, Vice President
8333 Bryan Dairy Road, P. O. Box 4689
Clearwater, FL 34618
(813) 398-8305