Quality Dining Inc. Contracts
Sample Business Contracts
Burger King Restaurants and Bruegger's Bagel Bakeries Leases - Quality Dining 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.
SCHEDULE OF RELATED PARTY LEASES EXISTING RESTAURANTS AS OF 1/15/97 <CAPTION> LEASE EXPIRATION ANNUAL BASE COMMENCEMENT DATE OF RENTAL ($) LOCATION LANDLORD DATE INITIAL TERM AS OF 10/27/96 1/ BURGER KING RESTAURANTS: -------------------------- Indiana ------- Michigan City Bendan Properties 09/01/86 09/30/06 85,404 Plymouth Bendan Properties 06/22/84 06/30/04 52,596 Mishawaka #1 Bendan Properties 08/29/84 08/31/04 63,048 Goshen #1 Bendan Properties 10/25/84 10/25/04 80,496 LaPorte F & S Realty 03/26/85 03/31/05 73,896 Mishawaka #2 Bendan Properties 05/15/85 05/31/05 75,324 Fort Wayne #1 B.K. Fort Wayne Properties 08/01/86 08/31/06 58,632 Mishawaka #3 Bendan Properties 09/19/86 09/30/06 73,248 Fort Wayne #2 B.K. Fort Wayne Properties 11/01/86 11/30/06 78,240 Warsaw Bendan Properties 11/22/86 11/30/06 69,876 South Bend #2 Bendan Properties 01/08/87 01/31/07 82,032 Huntington B.K. Fort Wayne Properties 06/12/87 06/30/07 54,960 Fort Wayne #3 B.K. Fort Wayne Properties 10/26/87 10/31/07 95,148 Fort Wayne #4 B.K. Fort Wayne Properties 12/01/87 12/31/07 93,996 Columbia City B.K. Fort Wayne Properties 04/01/89 04/30/09 94,500 Angola B.K. Fort Wayne Properties 06/01/89 06/30/09 94,500 South Bend #3 Bendan Properties 09/26/89 09/30/09 69,024 South Bend #4 Bendan Properties 12/13/89 12/31/09 94,500 Bluffton B.K. Fort Wayne Properties 12/10/90 12/31/10 84,372 South Bend #5 Bendan Properties 01/21/91 01/21/11 111,672 Kendallville B.K. Fort Wayne Properties 04/11/91 04/11/11 74,256 Goshen #2 Bendan Properties 07/01/92 07/31/12 86,400 South Bend #6 Silver Creek Plaza, Inc. 05/27/94 05/31/04 100,080 Goshen #3 F & S Realty 2/ 3/ 35,000 - - Michigan -------- Benton Harbor #1 Bendan Properties 10/31/90 02/14/03 18,528 St. Joseph Bendan Properties 12/31/86 12/31/06 108,156 _______________ 1/ Total annual rent for related party leases for Burger King restaurants - equals Annual Base Rental plus an amount by which 7% of the restaurant's gross sales (8-1/2% of the restaurant's gross sales in the case of related party leases with William R. Schonsheck or Shon-Cass) exceeds Annual Base Rental (the "Percentage Rental"). 2/ Lease is to commence upon the sooner of the first day of operations or 120 - days after November 19, 1996; as of January 15, 1997, the restaurant was not yet operational. 3/ Initial term is ten years from date of commencement of lease (see note 2). - <PAGE> Benton Harbor #2 4/ J & B Realty 08/24/81 12/02/06 5/ 68,112 Woodhaven Fitzpatrick Properties 10/23/85 10/31/05 95,196 Highland Fitzpatrick Properties 05/30/84 05/30/04 77,028 Muskegon #1 B.K. Muskegon Properties 07/01/84 07/01/04 72,888 Norton Shores B.K. Muskegon Properties 07/01/84 07/01/04 66,540 Hartland Fitzpatrick Properties 05/01/86 05/31/06 77,208 Stevensville Bendan Properties 06/19/86 06/30/06 72,804 Muskegon #2 B.K. Muskegon Properties 06/23/86 06/30/06 68,988 Howell Fitzpatrick Properties 06/22/87 07/31/07 78,300 Fremont B.K. Muskegon Properties 04/14/88 04/30/08 78,096 South Haven Bendan Properties 05/05/88 05/31/08 74,004 Taylor #2 Fitzpatrick Properties 09/12/89 09/30/09 87,744 Whitehall B.K. Muskegon Properties 07/06/90 07/30/10 92,472 Dowagiac Bendan Properties 04/10/91 04/10/11 74,256 Brighton Fitzpatrick Properties 09/17/92 09/17/12 121,500 Farmington William R. Schonsheck 08/14/95 10/01/03 89,208 Belleville #2 Shon-Cass 08/14/95 12/31/05 118,926 BRUEGGER'S BAGEL BAKERIES: ------------------------- Vermont ------- Burlington Howard Opera House 12/31/90 12/30/00 46,600 4/ Percentage Rental is based on 8% of gross sales. - 5/ Lease was extended on 12/3/96 to 12/2/2006. - -2-