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:
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Indiana
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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
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Michigan
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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
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1/ Total annual rent for related party leases for Burger King restaurants
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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
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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).
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<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:
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Vermont
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Burlington Howard Opera House 12/31/90 12/30/00 46,600
4/ Percentage Rental is based on 8% of gross sales.
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5/ Lease was extended on 12/3/96 to 12/2/2006.
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