Martha Stewart Living Omnimedia Inc. Contracts
Sample Business Contracts
Connecticut-Westport-19 Newtown Turnpike Lease [Termination] - Newtown Group Properties LP and Martha Stewart Living Omnimedia 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.
TERMINATION OF LEASES, ETC. This Amendment of Leases, Etc. dated as of the 1st day of October, 2000 is entered into by and between NEWTOWN GROUP PROPERTIES LIMITED PARTNERSHIP ("Newtown"), a Connecticut limited partnership, and MARTHA STEWART LIVING OMNIMEDIA, INC. ("MSLO"), a Delaware corporation. WHEREAS, Newtown and MSLO presently are the sole parties in interest, as landlord and tenant, respectively, of and pursuant to the following documents, as a result of their and/or their predecessors in interest's having previously entered into said documents: (i) the Lease dated as of March 6, 1996 between Newtown and Time Publishing Ventures Inc., as amended, as assigned to Martha Stewart Living Omnimedia LLC ("MSO LLC"), predecessor to MSLO, as of February 3, 1997 ("Lease 1"); (ii) the Lease dated as of August 1, 1996 between Newtown and MSO LLC ("Lease 2"); (iii) the Lease dated as of August 14, 1997 between Newtown and MSO LLC ("Lease 3", together with Lease 1 and Lease 2, the "Prior Leases"); (iv) the Letter Agreement dated as of September 29, 2000 between Newtown and MSLO amending the Prior Leases (the "Amendment Agreement"); and (v) the Agreement dated as of March 10, 1997 between Newtown and MSO LLC with respect to certain alterations made by MSO LLC to the premises which are the subject of the Prior Leases (the "Alterations Agreement"). WHEREAS, Newtown and MSLO wish to enter into, execute and deliver to the other a Lease dated as of October 1, 2000 ("Lease 4") but will do so only if both of them enter into, execute and deliver to the other this Amendment of Leases, Etc. <PAGE> 2 NOW, THEREFORE, for good, valuable, sufficient, adequate, legal and valid consideration, given and received by each and both of the undersigned to and from the other, including, but not necessarily limited to, each and both of the undersigned's entering into, executing and delivering to the other this Amendment of Leases, Etc. and Lease 4, the undersigned hereby agree that the Prior Leases, Amendment Agreement and Article 10. of the Alterations Agreement are hereby amended so that the term referred to in the Prior Leases shall be deemed to terminate, and the Prior Leases, Amendment Agreement and Article 10. of the Alterations Agreement shall be deemed to terminate and become and be null, void and of no effect whatsoever, all as of July 1, 2001, and all absolutely, forever and unconditionally. IN WITNESS WHEREOF, the said Parties have hereunto set their hands and seals the day and year first above written. Witness: NEWTOWN GROUP PROPERTIES LIMITED PARTNERSHIP By Saugatuck Group Property Management, Inc., Its General Partner, Hereunto Duly Authorized By /s/ Peter van Witt -------------------------------- -------------------------------- Peter Van Witt, Its President, -------------------------------- Hereunto Duly Authorized MARTHA STEWART LIVING OMNIMEDIA, INC. -------------------------------- By /s/ Sharon Patrick -------------------------------- Its President --------------------------------, -------------------------------- -------------------------------- Hereunto Duly Authorized 2 <PAGE> 3 STATE OF CONNECTICUT) ) ss: , 2000 COUNTY OF FAIRFIELD ) Personally appeared Peter Van Witt, President hereunto duly authorized of Saugatuck Group Property Management, Inc., general partner hereunto duly authorized of NEWTOWN GROUP PROPERTIES LIMITED PARTNERSHIP, signer and sealer of the foregoing instrument, who acknowledged the same to be his free act and deed as such President hereunto duly authorized, the free act and deed of said Saugatuck Group Property Management, Inc. as such general partner hereunto duly authorized, and the free act and deed of said NEWTOWN GROUP PROPERTIES LIMITED PARTNERSHIP, before me. -------------------------------- Commissioner of the Superior Court Notary Public My Commission Expires: STATE OF NEW YORK ) ) ss: New York City , 2000 COUNTY OF NEW YORK ) Personally appeared , hereunto duly authorized of MARTHA STEWART LIVING OMNIMEDIA, INC., signer and sealer of the foregoing instrument, who acknowledged the same to be his/her free act and deed as such hereunto duly authorized, and the free act and deed of said MARTHA STEWART LIVING OMNIMEDIA, INC., before me. -------------------------------- Commissioner of the Superior Court Notary Public My Commission Expires: 3