NCR (No Carbon Required)
COMMERCIAL LEASE AND DEPOSIT RECEIPT
RECEIVED FROM Feather River State Bank, hereinafter referred to as LESSEE, the
sum of $3465.00 (Three Thousand Four Hundred Sixty Five & NO/100 dollars),
evidenced by a check, as a deposit which will belong to Lessor and will be
applied as follows:
TOTAL RECEIVED BALANCE DUE PRIOR TO OCCUPANCY
Rent for the period from 12-1-97 to 1-1-98. . . . . . . . . . . . $ 1732.50 $ 1732.50 $
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Security deposit (NOT applicable toward last month's rent). . . . $ $ $
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Other Last Month's Rent. . . . . . . . . . . . . . . . . . . . . $ 1732.50 $ 1732.50 $
--------- --------- ---------
TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3465.00 $ 3465.00 $
--------- --------- ---------
In the event this Lease is not accepted by the Lessor within 14 days, the
total deposit received will be refunded.
Lessee offers to lease from Lessor the premises situated in the City of
CHICO, County of BUTTE, State of CALIF, described as W.50' of 500 MAIN ST,
consisting of approximately 1925 square feet, upon the following terms and
conditions:
1. TERM. The term will commence on Dec. 1, 1997, and end on Nov. 30, 2000.
2. RENT. The total rent will be $62,370.00, payable at $1732.50 per month
(based on first year's rates) payable on the 1St day of each month. All
rents will be paid to Lessor or his or her authorized agent, at the
following address DIANA HOLMES, TRUSTEE, PO BOX 325, OAKVILLE, CA 94562,
or at such other places as may be designated by Lessor from time to
time. In the event rent is not paid WITHIN 15 DAYS after due date,
Lessee agrees to pay A LATE CHARGE of $15.00 plus interest at 8% per
annum on the delinquent amount. Lessee further agrees to pay $15.00 for
each dishonored bank check. The late charge period is NOT a grace
period, and Lessor is entitled to make written demand for any rent if
not paid when due.
3. USE. The premisses are to be used for the operation of A MORTGAGE LOAN
BUSINESS, and for no other purpose, without prior written consent of
Lessor. Lessee will not commit any waste upon the premises, or any
nuisance or act which may disturb the quiet enjoyment of any tenant in
the building.
4. USES PROHIBITED. Lessee will not use any portion of the premises for
purposes other than those specified. No use will be made or permitted
to be made upon the premises, nor acts done, which will increase the
existing rate of insurance upon the property, or cause cancellation of
insurance policies covering the property. Lessee will not conduct or
permit any sale by auction on the premises.
5. ASSIGNMENT AND SUBLETTING. Lessee will not assign this Lease or sublet
any portion of the premises without prior written consent of the Lessor,
which will not be unreasonable withheld. Any such assignments or
subletting without consent will be void and, at the option of the
Lessor, will terminate this Lease.
6. ORDINANCES AND STATUTES. Lessee will comply with all statutes,
ordinances, and requirements of all municipal, state and federal
authorities now in force, or which may later be in force, regarding the
use of the premises. The commencement or pendency of any state or
federal court abatement proceeding affecting the use of the premises
will, at the option of the Lessor, be deemed a breach of this Lease.
7. MAINTENANCE, REPAIRS, ALTERATIONS. Unless otherwise indicated, Lessee
acknowledges that the premises are in good order and repair. Lessee
will, at his or her own expense, maintain the premises in a good and
safe condition, including plate glass, electrical wiring, plumbing and
heating and air conditioning installations, and any other system or
equipment. The premises will be surrendered, at termination of the
Lease, in as good condition as received, normal wear and tear excepted.
Lessee will be responsible for all repairs required, except the
following which will be maintained by Lessor: roof, exterior walls,
structural foundations (including any retrofitting required by
governmental authorities) and: NO OTHER Lessee / / will /X/ will not
maintain the property adjacent to the premises, such as sidewalks,
driveways, which would otherwise be maintained by Lessor.
No improvement or alteration of the premises will be made without the
prior written consent of the Lessor. Prior to the commencement of any
substantial repair, improvement, or alteration, Lessee will give Lessor
at least TWO (2) DAYS WRITTEN NOTICE in order that Lessor may post
appropriate notices to avoid any liability for liens.
8. ENTRY AND INSPECTION. Lessee will permit Lessor or Lessor's agents to
enter the premises at reasonable times and upon reasonable notice for
the purpose of inspecting the premises, and will permit Lessor, at any
time WITHIN SIXTY (60) DAYS prior to the expiration of this Lease, to
place upon the premises any usual "For Lease" signs, and permit persons
desiring to lease the premises to inspect the premises at reasonable
times.
9. INDEMNIFICATION OF LESSOR. Lessor will not be liable for any damage or
injury to Lessee, or any other person, or to any property, occurring on
the premises. Lessee agrees to hold Lessor harmless from any claims for
damages arising out of Lessee's use of the premises, and to indemnify
Lessor for any expense incurred by Lessor in defending any such claims.
10. POSSESSION. If Lessor is unable to deliver possession of the premises
at the commencement date set forth above, Lessor will not be liable for
any damage caused by the delay, nor will this Lease be void or voidable,
but Lessee will not be liable for any rent until possession is
delivered. Lessee may terminate this Lease if possession is not
delivered WITHIN______DAYS of the commencement term in Item 1.
11. LESSEE'S INSURANCE. Lessee, at his or her expense, will maintain plate
glass, public liability, and property damage insurance insuring Lessee
and Lessor with minimum coverage as follows: 200,000.00/500,000.00
Lessee will provide Lessor with a Certificate of Insurance showing
Lessor as additional insured. THE POLICY WILL REQUIRE TEN (10) DAY'S
WRITTEN NOTICE TO LESSOR PRIOR TO CANCELLATION OR MATERIAL CHANGE OF
COVERAGE.
12. LESSOR'S INSURANCE. Lessor will maintain hazard insurance covering one
hundred percent (100%) actual cash value of the improvements throughout the
Lease term. Lessor's insurance will not insure Lessee's personal property,
leasehold improvements, or trade fixtures.
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NCR (No Carbon Required) Property Address 500 MAIN ST
13. SUBROGATION. To the maximum extent permitted by insurance policies which
may be owned by the parties, Lessor and Lessee waive any and all rights of
subrogation which might otherwise exist.
14. UTILITIES. Lessee agrees that he or she will be responsible for the
payment of all utilities, including water, gas, electricity, heat and other
services delivered to the premises, except: NONE.
15. SIGNS. Lessee will not place, maintain, nor permit any sign or awning on
any exterior door, wall, or window of the premises without the express
written consent of Lessor, which will not be unreasonably withheld, and of
appropriate governmental authorities.
16. ABANDONMENT OF PREMISES Lessee will not vacate or abandon the premises at
any time during the term of this Lease. If Lessee does abandon or vacate
the premises, or is dispossessed by process of law, or otherwise, any
personal property belonging to Lessee left on the premises will be deemed
to be abandoned, at the option of Lessor.
17. CONDEMNATION. If any part of the premises is condemned for public use, and
a part remains which is susceptible of occupation by Lessee, this Lease
will, as to the part taken, terminate as of the date the condemnor acquires
possession. Lessee will be required to pay such proportion of the rent for
the remaining term as the value of the premises remaining bears to the
total value of the premises at the date of condemnation; provided, however,
that either party may, at his or her option, terminate this Lease as of the
date the condemnor acquires possession. In the event that the premises are
condemned in whole, or the remainder is not susceptible for use by the
Lessee, this Lease will terminate upon the date which the condemnor
acquires possession. All sums which may be payable on account of any
condemnation will belong solely to the Lessor; except that Lessee will be
entitled to retain any amount awarded to him or her for his of her trade
fixtures and moving expenses.
18. TRADE FIXTURES. Any and all improvements made to the premises during the
term will belong to the Lessor, except trade fixtures of the Lessee.
Lessee may, upon termination, remove all his or her trade fixtures, but
will pay for all costs necessary to repair any damage to the premises
occasioned by the removal.
19. DESTRUCTION OF PREMISES. In the event of a partial destruction of the
premises during the term, from any cause except acts or omission of Lessee,
Lessor will promptly repair the premises, provided that such repairs can be
reasonably made WITHIN SIXTY (60) DAYS. Such partial destruction will not
terminate this Lease, except that Lessee will be entitled to a
proportionate reduction of rent while such repairs are being made, based
upon the extent to which the making of such repairs interferes with the
business of Lessee on the premises. If the repairs cannot be made WITHIN
SIXTY (60) DAYS, this Lease may be terminated at the option of either party
by giving written notice to the other party WITHIN THE SIXTY (60) DAY
PERIOD.
20. HAZARDOUS MATERIALS. Lessee will not use, store, or dispose of any
hazardous substances upon the premises, except the use and storage of such
substances that are customarily used in Lessee's business, and are in
compliance with all environmental laws. Hazardous substances means any
hazardous waste, substance or toxic materials regulated under any
environmental laws or regulations applicable to the property. Lessee will
be responsible for the cost of removal of any toxic contamination caused by
lessee's use of the premises.
21. INSOLVENCY. The appointment of a receiver, an assignment for the benefits
of creditors, or the filing of a petition in bankruptcy by or against
Lessee, will constitute a breach of this Lease by Lessee.
22. DEFAULT In the event of any breach of this Lease by Lessee, Lessor may, at
his or her option, terminate the Lease and recover from Lessee: (a) the
worth at the time of award of the unpaid rent which had been earned at the
time of termination; (b) the worth at the time of award of the amount by
which the unpaid rent which would have been earned after termination until
the time of the award exceeds the amount of such rental loss that the
Lessee proves could have been reasonably avoided; (c) the worth at the time
of award of the amount by which the unpaid rent for the balance of the term
after the time of award exceeds the amount of such rental loss that the
Lessee proves could be reasonably avoided; and (d) any other amount
necessary to compensate Lessor for all the detriment proximately caused by
the Lessee's failure to perform his or her obligations under the Lease or
which in the ordinary course of things would be likely to result therefrom.
Lessor may, in the alternative, continue this Lease in effect, as long
as Lessor does not terminate Lessee's right to possession, and Lessor may
enforce all of Lessor's rights and remedies under the Lease, including the
right to recover the rent as it becomes due under the Lease. If said
breach of Lease continues, Lessor may, at any time thereafter, elect to
terminate the Lease.
These provisions will not limit any other rights or remedies which
Lessor may have.
23. SECURITY. The security deposit will secure the performance of the Lessee's
obligations. Lessor may, but will not be obligated to, apply all or
portions of the deposit on account of Lessee's obligations. Any balance
remaining upon termination will be returned to Lessee. Lessee will not
have the right to apply the security deposit in payment of the last month's
rent.
24. DEPOSIT REFUNDS. The balance of all deposits will be refunded WITHIN THREE
(3) WEEKS (or as otherwise required by law), from date possession is
delivered to Lessor or his or her authorized agent, together with a
statement showing any charges made against the deposits by Lessor.
25. ATTORNEY FEES. In any action or proceeding involving a dispute between
Lessor and Lessee arising out of this Lease, the prevailing party will be
entitled to reasonable attorney fees.
26. WAIVER. No failure of Lessor to enforce any term of this Lease will be
deemed to be a waiver.
27. NOTICES. Any notice which either party may or is required to give, will be
given by mailing the notice, postage prepaid, to Lessee at the premises, or
to Lessor at the address shown in Item 2, or at such other places as may be
designated in writing by the parties from time to time. Notice will be
effective FIVE (5) DAYS AFTER MAILING, or on personal delivery, or when
receipt is acknowledged in writing.
28. HOLDING OVER. Any holding over after the expiration of this Lease, with
the consent of Owner, will be a month-to-month tenancy at a monthly rent of
$ TBA, payable in advance and otherwise subject to the terms of this Lease,
as applicable, until either party will terminate the tenancy by giving the
other party THIRTY (30) DAYS WRITTEN NOTICE.
29. TIME. Time is of the essence of this Lease.
30. HEIRS, ASSIGNS, SUCCESSORS. This Lease is binding upon and inures to the
benefit of the heirs, assigns, and successors of the parties.
31. TAX INCREASE. In the event there is any increase during any year of the
term of this Lease in real estate taxes over and above the amount of
such taxes assessed for the tax year during which the term of this Lease
commences, Lessee will pay to Lessor an amount equal to ___% of the
increase in taxes upon the land and building in which the leased premises
are situated. In the event that such taxes are assessed for a tax year
extending beyond the term of the Lease, the obligation of Lessee will be
prorated. Lessee will not be responsible for any tax increase occasioned
solely by a sale or transfer of the premises by Lessor.
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Property Address 500 MAIN ST.
32. COST OF LIVING INCREASE. The rent provided for in Item 2 will be adjusted
effective upon the first day of the month immediately following the
expiration of 12 months from date of commencement of the term, and upon the
expiration of each 12 months thereafter, in accordance with changes in the
U.S. Consumer Price Index for All Urban Consumers (1982-84=100) ("CPI").
The monthly rent will be increased to an amount equal to the monthly
rent set forth in Item 2, multiplied by a fraction the numerator of which
is the CPI for the second calendar month immediately preceding the
adjustment date, and the denominator of which is the CPI for the second
calendar month preceding the commencement of the Lease term; provided,
however, that the monthly rent will not be less than the amount set forth
in Item 2.
33. OPTION TO RENEW. Provided that Lessee is not in default in the performance
of this Lease will have the option to renew the Lease for an additional
term of 24 months commencing at the expiration of the initial Lease term.
All of the terms and conditions of the Lease will apply during the renewal
term, except that the monthly rent will be the sum of $TBA which will be
adjusted in accordance with the cost of living increase provision set forth
in Item 32.
The option will be exercised by written notice given to Lessor NOT
LESS THAN 30 DAYS prior to the expiration of the initial Lease term. If
notice is not given within the time specified, this Option will expire.
34. AMERICANS WITH DISABILITIES ACT. The parties are alerted to the existence
of the Americans With Disabilities Act, which may require costly structural
modifications. The parties are advised to consult with a professional
familiar with the requirements of the Act.
35. LESSOR'S LIABILITY. In the event of a transfer of Lessor's title or
interest to the property during the term of this Lease, Lessee agrees that
the grantee of such title or interest will be substituted as the Lessor
under this Lease, and the original Lessor will be released of all further
liability; provided, that all deposits will be transferred to the grantee.
36. ESTOPPEL CERTIFICATE.
(a) On TEN (10) DAYS' PRIOR WRITTEN NOTICE from Lessor, Lessee will
execute, acknowledge, and deliver to Lessor a statement in writing: [1]
certifying that this Lease is unmodified and in full force and effect (or,
if modified, stating the nature of such modification and certifying that
this Lease, as so modified, is in full force and effect), the amount of any
security deposit, and the date to which the rent and other charges are paid
in advance, if any; and [2] acknowledging that there are not, to Lessee's
knowledge, any uncured defaults on the part of Lessor, or specifying such
defaults if any are claimed. Any such statement may be conclusively relied
upon by any prospective buyer or encumbrancer of the premises.
(b) At Lessor's option, Lessee's failure to deliver such statement
within such time will be a material breach of this Lease or will be
conclusive upon Lessee:[1] that this Lease is in full force and effect,
without modification except as may be represented by Lessor; [2] that there
are no uncured defaults in Lessor's performance; and [3] that not more than
one month's rent has been paid in advance.
(c) If Lessor desires to finance, refinance, or sell the premises, or
any part thereof, Lessee agrees to deliver to any lender or buyer
designated by Lessor such financial statements of Lessee as may be
reasonably required by such lender or buyer. All financial statements will
be received by the Lessor or the lender or buyer in confidence and will be
used only for the purposes set forth.
37. ENTIRE AGREEMENT. The foregoing constitutes the entire agreement between
the parties and may be modified only in writing signed by all parties. The
following exhibits are a part of this Lease:
Exhibit A: SEE ATTACHED
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Exhibit B:
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Exhibit C:
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THE UNDERSIGNED LESSEE ACKNOWLEDGES THAT HE OR SHE HAS THOROUGHLY READ AND
APPROVED EACH OF THE PROVISIONS CONTAINED IN THIS OFFER, AND AGREES TO THE TERMS
AND CONDITIONS SPECIFIED.
Lessee___________ Date __________ Lessee____________ Date _________
Receipt for deposit acknowledged by _______________________ Date _________
ACCEPTANCE
THE UNDERSIGNED LESSOR ACCEPTS THE FOREGOING OFFER AND AGREES TO LEASE THE
PREMISES ON THE TERMS AND CONDITIONS SET FORTH ABOVE.
NOTICE: THE AMOUNT OR RATE OF REAL ESTATE COMMISSIONS IS NOT FIXED BY LAW. THEY
ARE SET BY EACH BROKER INDIVIDUALLY AND MAY BE NEGOTIABLE BETWEEN THE OWNER AND
BROKER.
The Lessor agrees to pay to ___________________________, the Broker in this
transaction, the sum of $__________ for services rendered and authorizes Broker
to deduct said sum from the deposit received from Lessee.
In the event the Lease is extended for a definite period of time or on a
month-to-month basis after expiration of the original term, Lessor will pay to
Broker an additional commission of ________% of the total rental for the
extended period. This commission will be due and payable at the commencement of
the extended period if for a fixed term, or if on a month-to-month basis, at
the termination of Lessee's occupancy or one year, whichever is earlier.
In any action for commission, the prevailing party will be entitled to
reasonable attorney fees.
Lessor___________ Date _________ Lessor____________ Date _________
Lessee acknowledges receipt of a copy of the accepted Lease on (date)________
[_______][______]
Initials
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Rev. by______
Date_________
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