Sample Business Contracts


Arkansas-Fort Smith-5721 South Zero Street Lease - Buhrke Co. and Label Art Inc.

Lease Forms

  • Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
  • When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
  • Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
  • Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
  • When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.

                                   [LETTERHEAD]

                                   June 23, 1995



David M. Lajoie, Vice President Finance
LABEL ART
One Riverside Way
Wilton, New Hampshire, 03086

     RE:   Lease Agreement for 20,000 square feet
           5721 South Zero Street
           Fort Smith, Arkansas

Dear Mr. Lajoie:

    After reviewing your proposal regarding the continued lease of the above 
property, we are renewing the above lease, which has an end date (as amended) 
of December 31, 1995, with the option to renew for an additional two years 
through December 31, 1997.  Renewal will be based on renegotiation of the 
existing terms.  Total square footage leased remains 20,000 and monthly rent 
is $2,400.

    If this arrangement is acceptable to you, please sign the original of 
this letter and return it to us.

    If there are any questions, please do not hesitate to give me a call.

                                           Sincerely,

                                           /s/  PAUL W. STIEGLER, JR.

                                           Paul W. Stiegler, Jr.
                                           Vice President & General Manager
                                           Fort Smith

PWSJr/crm

     By:  /s/  DAVID M. LAJOIE
          Label Art
     Date: 7/11/95

                                     [FOOTER]
<PAGE>
                                   [LETTERHEAD]

November 14, 1988

Paul W. Stiegler, Jr., President
R. H. Buhrke Co., Inc.
Division of Klein Tools, Inc.
c/o Jimmie Taylor, Realtors
P. O. Box 3409
Fort Smith, Arkansas  72913

Dear Paul:

In connection with our Lease Agreement for property at 5721 South Zero Street 
dated September 1, 1988, we understand that the 2,500 square feet (not 
currently covered under the lease) have become available for use.  We wish to 
lease this additional place.

We propose to amend the Lease Agreement, effective November 1, 1988, to 
incorporate the additional 2,500 square feet, bringing the total square 
footage to 20,000 and the monthly rent to $2,400.  All other terms of the 
Lease Agreement will remain unchanged.

If this arrangement is acceptable to you, please sign the original of this 
letter and return to us, at which time we will send a check covering the 
additional rent from November 1, 1988.

Very truly yours,

/s/  DONALD L. CRANE

Donald L. Crane
Vice President of Finance

DLC:ED

R. H. Buhrke Company, Inc.
Division of Klein Tools, Inc.

By /s/
         Its President

Date  11/17/88

<PAGE>
                                    LEASE AGREEMENT

     THIS AGREEMENT made and entered into in Fort Smith, Arkansas, on this 1st 
day of September, 1988, by and between Buhrke Co. - Division of Klein Tools, 
hereinafter referred to as "Lessors", and Label Art, Inc., a corporation, 
hereinafter referred to as "Lessee".

     The Lessors and Lessee, for and in consideration of the mutual covenants, 
conditions, agreements, and stipulations hereinafter contained, hereby agree 
as follows:

     1.  Description of the Property:  Lessors hereby lease to the Lessee 
property located at 5721 South Zero, Fort Smith, Arkansas, more particularly 
described as follows:  This is the building that is on the East side of 
entrance.  The Lessee is to get 17,500 sq. ft. and the Lessor is keeping 
2,500 sq. ft. in the Southeast corner of said building and Lessor is to 
install a wire cage around this area. Access to this 2,500 sq. ft. area will 
be limited to its own entry way from outside of the building if the Lessee so 
desires at any time during the term of the lease.

     The Lessors shall permit the Lessee to use an air compressor located on 
the leased premises, and this air compressor shall be considered a fixture to 
the building and part of the leased premises.  The Lessor has given Lessee 
permission to build a dock in front of the sixteen foot door and extend a 
turn-around into the ball park.  Also at the Southwest Corner the Lessee will 
be permitted to install a concrete pad for a compactor.

     2.  Acceptance of the Property:  At the commencement of the lease term, 
the Lessee shall accept the building, improvements, equipment, and fixtures 
on or in the leased premises, in their existing condition.  No 
representation, statement, or warranty, expressed or implied, has been made 
by or on behalf of the Lessors as to such condition.

     3.  Term of Lease:  The term of this lease shall be for Twenty-five (25) 
months commencing September 1, 1988 and shall terminate on October 1, 1990.

<PAGE>

LEASE AGREEMENT                  Page 2

     4.  Option:  The Lessee shall have the right of first refusal if the 
Lessor decides to lease the building after the initial term.

     5.  Rent:  Lessee shall pay to the Lessors the sum of Two Thousand One 
Hundred Dollars ($2,100.00) per month, which shall be due and payable on the 
first (1st) day of each month, commencing September 1, 1988.  Lessee shall 
pay to the Lessors the first and last month's rent prior to September 1, 
1988.  All payments of rent are to be made payable to Jimmie Taylor, 
Realtors, P. O. Box 3409, Fort Smith, Arkansas, 72913.

     6.  Taxes:  The real property taxes on the leased premises shall be paid 
by the Lessors, but all personal property taxes due on the contents of the 
leased premises or the result of any business conducted by the Lessee in the 
leased premises shall be paid the Lessee.  The Lessee shall not permit any 
liens to be filed on the leased premises as a result of any tax liability 
arising out of any business conducted by Lessee on the leased premises.

     7.  Insurance:  Lessors shall keep and maintain all-risk property 
insurance on the structure of the leased premises in the amount of at least 
90% of the replacement cost of the building.  Lessee shall obtain and keep in 
force during the entire term of the lease, at their expense, a policy of 
general public liability insurance, to which the Lessors shall be named as 
co-insureds, with minimum limits of $250,000.00-$500,000.00.  The Lessee 
shall provide the Lessors with proof of insurance within thirty (30) days 
after the execution of this lease agreement.  The Lessee shall be responsible 
for obtaining insurance, if it desires, covering its own equipment or other 
personal property which may be stored on the leased premises.  The Lessee 
shall obtain a policy of workers' compensation insurance issued by a company 
authorized to do business in the state of Arkansas, covering its

<PAGE>

LEASE AGREEMENT                     Page 3

employees on said premises and shall provide the Lessors with a certificate 
of said coverage within thirty (30) days after execution of this lease 
agreement.

     8.  Use of the Premises:  The Lessee should satisfy itself that the use 
of these premises is in conformance with all zoning regulations of the City 
of Fort Smith, Arkansas, and the Lessors make no representation as to their 
conforming use.  The Lessee shall use these premises for the purposes of 
printing and packaging products and related warehouse and office use.  The 
Lessee shall keep the entire leased premises, including walls, floors, 
ceilings, and fixtures broom clean.  ALL flammable material shall be stored 
so as to reasonably avoid the risk of fire or explosion.

     9.  Damage or Destruction of Leased Premises and Untenantability:  In 
the event the leased premises are damaged or destroyed, the Lessors shall, 
with the proceeds of such insurance as it has on the leased premises, 
promptly repair and rebuild the demised premises.  If the premises, or any 
portion thereof, are made untenantable by fire, the elements, or other 
casualty, rent for the leased premises, or affected portion thereof, shall 
abate from the date of such casualty to restoration of tenantability.  Lessor 
shall restore same with all reasonable speed, and if Lessor does not restore 
the premises or the affected portion thereof to tenantability within sixty 
(60) days thereafter, Lessee may then terminate this lease.  If the premises 
are more than fifty percent (50%) destroyed by such casualty, either Lessor 
or Lessee may terminate this lease unless Lessor is able to rebuild and 
restore the Premises within ninety (90) days of such casualty.  Rent shall 
abate during such period of untenantability.  The Lessors hereby agree that 
no action shall be maintained by the Lessors or the Lessors' insurance 
company against the Lessee in the event of said loss regardless of the cause 
thereof, including Lessee's negligence, and that lessor shall cause the 
relevant insurance policies to contain a waiver of subrogation clause to 
evidence this release.

<PAGE>

LEASE AGREEMENT                 Page 4

     10.  Repairs and Maintenance:  The Lessors shall be responsible for the 
maintenance of the roof on the building and for any major maintenance 
required to the outside of the structure or upon the electrical, plumbing, 
gas, or air conditioning systems during the lease term, unless caused by the 
fault of the Lessee.  The Lessee shall give written notice to the Lessors of 
the need of repairs specifying such repairs.  The Lessee shall be responsible 
for any and all minor maintenance necessary within the leased premises, 
including the electrical, plumbing, gas, or air conditioning systems, or any 
damage caused by the negligence or want of care of it by its employees, or 
the public which it serves, and shall further be responsible for all 
janitorial work required therein, as well as the maintenance of any glass 
which is permanently a part of the leased premises.  Lessee shall maintain 
the leased premises in good condition, less ordinary wear and tear.

     11.  Utilities:  The Lessee shall bear all utility expenses attributable 
to the leased property and shall be responsible for all deposits required 
thereby.  The  Lessee shall not permit any liens to be filed on the 
leased property as a result of the nonpayment of any utility charges.

     12.  Assignment or Subletting:  The Lessee shall not assign, mortgage, 
or encumber this lease, nor sublet nor permit the lease of the property or any 
part thereof to be used by others, without the prior written consent of the 
Lessors in each instance, which shall not be unreasonably withheld.

     13.  Indemnification by Lessee:  The Lessee covenants and agrees with 
the Lessors that during the entire term of the lease and any extensions or 
renewals thereof, the Lessee will indemnify and save harmless the Lessors 
against any and all claims, debts, demands, or obligations which may be made 
against the Lessors or 

<PAGE>

LEASE AGREEMENT                      Page 5

against the Lessors' title in the premises, arising by reason of or in 
connection with, any alleged act or omission of the Lessee or any person 
claiming under, by, or through the Lessee; and if it becomes necessary for the 
Lessors to defend any action seeking to impose such liability, the Lessee 
will pay the Lessors all costs of court and attorneys' fees incurred by the 
Lessors in affecting such defense in addition to any other sums which the 
Lessors may be called upon to pay by reason of the entry of a judgment 
against the Lessors in the litigation of which such claim is asserted.  
Except, however, this article shall be subject to the provisions of article 9 
concerning the non-liability of Lessee.

     14.  Default by Lessee:  If the leased property shall be deserted or 
vacated, or if proceedings are commenced against the Lessee in any Court 
under a bankruptcy act or for the appointment of a trustee or receiver of the 
Lessee's property either before or after the commencement of the lease term, 
or if there shall be a default in the payment of rent or any part thereof for 
more than fifteen (15) days after written notice of such default by the 
Lessors, or if there shall be default in the performance of any other 
covenant, agreement, condition, rule or regulation herein contained or 
hereafter established on the part of the Lessee for more than fifteen (15) 
days after written notice of such default by the Lessors, this lease (if the 
Lessors so elect) shall thereupon become null and void, and the Lessors shall 
have the right to reenter or repossess the leased property, either by force, 
summary proceedings, surrender, or otherwise, and disposes and removes 
therefrom the Lessee, or other occupants thereof, and their effects, without 
being liable to any prosecution therefore.  In such case, the Lessors may, at 
their option, relet the leased

<PAGE>

LEASE AGREEMENT                    Page 6

property or any part thereof, as the agent of the 
Lessee, and the Lessee shall pay the Lessors the difference between the rent 
hereby reserved and agreed to be paid by the Lessee for the portion of the 
term remaining at the time of reentry or repossession and the amount, if 
any, received or to be received under such reletting for such portion of the 
term.  The Lessees hereby expressly waive the service of notice of intention 
to renter or of instituting legal proceedings to that end.  "The Lessee 
waives and will waive all right to trial by jury in any summary proceeding 
hereafter instituted by the Lessor against the Lessee in respect to the 
leased property.

     15.  Corporate Resolution:  This Lease shall be executed by Label Art, 
Inc., 1 Riverside Way, Wilton, New Hampshire, 03086, by Mr. Thomas J. Cobery, 
President.  Label Art, Inc. shall provide the Lessors with a copy of a 
corporation resolution executed by two (2) officers of the corporation, 
authorizing this lease to be entered into and all the terms thereof by Thomas 
J. Cobery.  This shall be a condition precedent to the execution of the 
Lease.  A copy of the corporate resolution shall be attached to this lease as 
Exhibit "A".  Thomas J. Cobery further represents that he has the authority 
to enter into this lease on behalf of of Label Art, Inc. and to bind the 
corporation to the provisions enumerated herein.

     16.  Indemnification by Lessors:  Lessors shall covenant and agree with 
the Lessee that they are the owners of the property described herein and that 
they have good right and title to lease and let same unto the Lessee and that 
the building and other improvements of Lessors do not encroach on adjacent 
property.  Lessors covenant and agree that during the term hereof, so long as 
Lessee shall not be in default herein, Lessee shall have and

<PAGE>

LEASE AGREEMENT                    Page 7

enjoy peaceful and quiet possession of the property described herein.  In the 
event the property described herein is subject to any mortgage at the 
commencement of the term hereof, the Lessors shall cause the mortgagee to 
deliver to the Lessee a written agreement whereby the said mortgagee agrees 
to permit the Lessees to remain in possession during the term hereof so long 
as the Lessee is not in default and further agreeing to and acknowledging the 
rights of Lessee under this Lease Agreement.

WITNESS:                               Buhrke Co. - Division of Klein Tools

/s/                                    By  /s/ PAUL W. STIEGLER, JR.
                                           Its President

WITNESS:                               Label Art, Inc.
                                       A Delaware Corporation

/s/ Evelyn B. Dudley                   By  /s/ THOMAS J. COBERY
                                           Its President


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