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A commercial lease agreement between william g. Knight as landlord and new goey woey, llc as tenant. The lease outlines the terms and conditions for the rental of premises for the operation of a restaurant. Topics such as rent payment, use of premises, assignment and subletting, insurance requirements, and default and termination clauses.
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THIS LEASE is made as of the 3rd day of May, 2011 by and between William G. Knight, as Landlord and New Goey Woey, LLC, a State X limited liability company, as Tenant.
(a) If Landlord, for any reason whatsoever, cannot deliver the right to possession of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but in that event rent shall be waived for the period between the Commencement Date and the time when Landlord can deliver possession.
(a) Tenant shall open a restaurant as soon as possible and use the Premises on a continuous basis for such use and shall not use or permit the Premises to be used for any other purpose without the prior written consent of Landlord.
(b) Tenant shall not commit or suffer to be committed any waste in or upon the Premises.
Tenant shall, at its sole cost and expense, promptly comply with all laws, statutes, ordinances and governmental rules, regulations or requirements now in force or which may hereafter be in force.
(a) Without Landlord's written consent, Tenant shall not assign this Lease, or any interest in this Lease, or sublet the Premises or any part of the Premises. The performance by Tenant of any of the acts described in this Section without Landlord's consent shall be void, shall confer no rights upon any third person, and shall, at the option of Landlord, terminate this Lease. Landlord's consent to one assignment or subletting shall not constitute a waiver of the necessity for such consent to a subsequent assignment or subletting nor shall such consent constitute a release of Tenant from the full performance by Tenant of all terms, provisions, conditions and covenants of this Lease.
(b) Upon written notice from Tenant to Landlord of Tenant's desire to assign this Lease or sublease all or any portion of the Premises, Landlord shall have fifteen (15) days following Tenant's written notice within which Landlord shall have the option to terminate this Lease and retake possession of the Premises, or any portion thereof and enter into a lease directly with any proposed Assignee or Subtenant.
(c) Should this Lease be assigned, or should the Premises or any part thereof be sublet or occupied by a person or persons other than the original Tenant hereunder, Landlord may collect rent from the assignee, sublessee or occupant and apply the net amount collected to the monthly rent herein reserved, but no such assignment, subletting, occupancy or collection of rent shall be deemed a waiver of any term of this Lease, nor shall it be deemed acceptance of the assignee, sublessee or occupant as a tenant, or a release of Tenant from the full performance by Tenant of all the terms, provisions, conditions and covenants of this Lease.
(d) It is the intent of both Landlord and Tenant that the purpose of any assignment or subletting is to aid Tenant in meeting its obligations under this Lease and not to allow Tenant to gain financially from any such assignment or subletting. Landlord and Tenant agree that Landlord's consent to any assignment or subletting may be conditioned upon reaching mutual agreement upon a modification of the Base Rent set forth herein.
LANDLORD
William G. Knight
TENANT New Goey Woey, LLC, a State X limited liability company
By: _____________________________ name Its: Manager”