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HomeMy WebLinkAbout00130C - PA1B2 LAMB CREST ANTIQUES 435 NPC LEASE 1 Dina M. Lamb, dba Crest Antiques, 35 N. Palm Canyon STORE LEASE AGREEMENT #130, dated 4-1-85 Resolution 337, 5-15-85 THIS LEASE, made the 1st day April , 1985, BETWEEN Community Redevelopment Agency of the City of Palm Springs, LESSOR AND Dina M. Lamb, D.B.A. as Crest Antiques, Ltd. , LESSEE WITNESSETH: That the Lessor hereby leases to the Lessee , and the Lessee hereby rents from the Lessor, the premises known and described as: 435 North Palm Canyon Drive in the City of Palm Springs, California to be used as a store for the sale of antiques and for no other purpose. The term of this lease is for one year commencing on the 1st day of April , 1985, and ending on the 31st day of March, 1986. The total annual rent or sum of Five Thousand Eight Hundred Twenty and no/100 ($5,820.00) Dollars, is payable monthly in advance, on the 1st day of each and every calendar month of said term in equal monthly payments of Four Hundred Eighty-five and no/100 ($485.00) Dollars. SECURITY DEPOSIT: Lessee shall deposit with Lessor upon the execution of this Lease the sum of four hundred eighty-five and no/100 ($485.00) dollars as a security deposit for the Lessee s faithful performance of the provisions of this Lease. If Lessee fails to pay rent or other charges due hereunder, or otherwise defaults with respect to any provision of this Lease, Lessor may use the security deposit, or any portion of it, to cure the default or compensate Lessor for all damages sustained by Lessor resulting from Lessees default. Lessee shall immediately on demand pay to Lessor the sum equal to that portion of the security deposit expended or applied by Lessor which was provided for in this paragraph so as to maintain the security deposit in the sum initially deposited with Lessor. Lessor shall not be required to keep the security deposit separate from its general account nor shall Lessor be required to pay Lessee any interest on the security deposit. If Lessee performs all of Lessee' s obligations under this Lease, the security deposit or that portion thereof which has not previously been applied by the Lessor, shall be returned to Lessee within fourteen (14) days after the expiration of the term of this Lease, or after Lessee has vacated the Premises, whichever is later. PROVIDED, that the Lessee shall , at least 30 days before the expiration of the term herebycreated, give the Lessor a written notice of their intention to surrender the premises on the date last mentioned; if such notice is not given, then the Lessor, at Lessors option, may make another lease upon said premises to take effect at the expiration of this lease, or may consider the lessee as a tenant from month to month, after said last mentioned date, at the monthly installment last provided for; and the Lessee shall be liable for such rent so long as he holds possession and shall continue to be such tenant until the tenancy shall be terminated by the Lessor, or until the Lessee shall have given to the Lessor a written notice of at least one month of intention to terminate the tenancy. LIABILITY INSURANCE : During the entire term of this agreement, Lessee agrees to procure and maintain public liability insurance at Lessees sole expense to protect against loss from liability imposed by law for damages on account of bodily injury and property damage. Such public liability and property damage insurance shall also provide for and protect the Lessor against incurring any legal cost in defending claims for alleged loss. Such public liability and property damage insurance shall be maintained in full force and effect throughout the term of this lease and any extension thereof in the following minimum limits: STORE LEASE/LAMB Page 2 Bodily Injury $ 500,000 each person $1,000,000 each occurrence $1,000,000 operations Property Damage $ 500,000 each occurrence $ 500,000 aggregate A combined single limit policy with aggregate limits in the amount of $1,000,000 will be considered equivalent to the required minimum limits. EVIDENCE OF INSURANCE: A Certificate of Insurance, evidencing the above insurance coverage with a company acceptable shall be submitted to the Lessor prior to execution of this agreement on behalf of the Lessor. IT IS MUTUALLY AGREED that the above letting and taking is upon the following terms and conditions: FIRST: That the Lessee shall pay the rent above specified in advance or to: A. Make check payable to: Community Redevelopment Agency of the City of Palm Springs B. Mail check to: City of Palm Springs Real Property Division P.O. Box 1786 Palm Springs, CA 92263 ATTN: ERNIE G. BLEVINS SECOND: That the Lessee shall not assign this lease nor any rights thereunder nor sublet the premises or any part thereof without the written consent of the Lessor. THIRD: That the premises are now in a tenantable and good condition; that they shall not be altered, repaired or changed without the written consent of the Lessor and that, unless otherwise provided by written agreement, all alterations, improvements, and changes that may be required shall be done either by or under the direction of the Lessor, but at the cost of the Lessee; that all alterations, additions, and improvements made in and to the premises shall , unless otherwise provided by written agreement, be the property of the Lessor, and shall remain upon and be surrendered with the premises; that all damage or injury done to the premises by the of or by any person who may be in or upon the premises with the consent of the Lessee shall be paid for by the Lessee and that the Lessee - shall keep said premises in good order and condition at Lessees own expense and shall , at the termin- ation of this lease, surrender the premises to the Lessor in as good condition as reasonable and proper use thereof will permit. FOURTH: That the Lessee shall pay all light, fuel , gas and water rates or charges that may be assessed or levied against the premises. FIFTH. That, if the building or the above described premises shall be destroyed by fire or other cause, or be so damaged thereby that they become untenantable and cannot be rendered tenantable within sixty days from the day of the injury, this lease may be terminated by the Lessor; that, in case the premises are so damaged as not to require a termination of the lease as above provided, the Lessee shall not pay the rent herein specified during the term that the premises are wholly unfit for occupancy. SIXTH. That, in case of the violation by the Lessee of any of the terms and conditions of this lease, the Lessor may either terminate the lease after notice and take possession of the premises, or may enter and possess the premises as the agent of the Lessee and for Lessors account. SEVENTH. That the Lessor shall not be liable for any claims for damages that may be caused by the essor in re-entering and taking possession of the _ ;ti STORE LEASE/LAMB Page 3 premises as herein provided, nor for damages that may result from the destruction of or injury to the premises or building; nor for damages to or loss of such property belonging to the lessees as may be in or upon the premises, except as provided for by law. EIGHTH. That, in the case the lessor prevails in any suit or action brought by Lessor or Lessee under this lease, the lessee shall be liable to the lessor for all expenses which may be incurred, including reasonable attorneys' fees. THAT the words "lessor" andd "lessee" as used herein include, apply to, and bind and benefit the heirs, executors, administrators, successors and assigns of the lessor and lessee . IN WITNESS WHEREOF, the lessor and lessees have hereunto set their hands in duplicate the day and year first above written. I DINA M.'-LAMB (Lessee) Community Redevelopment Agency of the CITY OF PALM SPRINGS n By Executive Di�Ietor By Assistant Secretary Lessor) APPROM By YHE COMMUNITY REDEV. AGENCY BY RES, NO.