HomeMy WebLinkAboutLease AgreementOld Cantrell Road Partnership
PO BOX 22051
Little Rock, AR. 72221-2051
LEASE AGREEMENT
This lease is entered into the 8thday of August, 2022, between Old Cantrell Road Partnership, an
Arkansas general partnership, hereinafter called "LESSOR" and B & B TACO GARAGE, LLC
AKA "The Fold", anArkansas limited liability company, hereinafter called "LESSEE", as follows:
1) LESSOR hereby leases and lets to LESSEE, the non-exclusive use of the premises,
hereinafter called "Leased Premises", the premises known as the parking lot located in
front of "The Standard Abstract Building", 3420 Old Cantrell Road, Little Rock, AR
72202, as well as means of Ingress and egressto be used for the following purposes:
Employee and customer parking. Said lease shall not include personal property or liability
insurance.
2) The term of this lease shall be for twelve (12) months, commencing Aug. 1, 2022 hereinafter
called "Occupancy Date" and ending July 31st, 2023, unless sooner terminated as provided
herein.
3) LESSEE agrees to pay LESSOR monthly installments, each installment due and payable on the
first day of each month, commencing Aug 1st, 2022, "Commencement Date", and payable
monthly in the amount of Three Hundred Dollars ($300.00).
4) LESSEE shall have no right to assign this Lease or sublet any or all of Leased Premises
without written consent of LESSOR, obtained in advance. Any such attempt at assignment
or sublease, without consent, and any transfer of rights hereunder by operation of law,
shall constitute a breach of LESSEE'S obligations hereunder, entitling LESSOR immediately
to exercise any and all rights it may have in such circumstances, without notice to LESSEE
or observation of any grace period otherwise accorded LESSEE.
5) During the term of this lease, LESSEE shall keep Leased Premises in a good clean order,
and LESSEE shall restore Leased Premises to LESSOR at the end of the term, or any
extension thereof, to the same condition as when occupancy commencedhereunder,
normal wear and tear excepted, subject to any improvements approved by Lessor prior to
LESSEE's installation.
6) Should LESSEE fail to make prompt repairs as required hereunder, LESSOR shall have the
right to perform repairs and be reimbursed by LESSEE therefor.
7) No alterations, modifications or improvement of Leased Premises shall be made without
the prior consent, in writing, of LESSOR.
8) LESSEE agrees that it will use Leased Premises only for the purposes set forth in the
Paragraph (1) above, and that it will not engage in any activity or permit any on Leased
Premises or adjacent common areas which violate any law, regulation or ordinance.
9) IfLeased Premises be subjected to any eminent domain proceedings, then this Lease shall
terminate. In such proceedings, all damages arising out of the taking shall be payable to
LESSOR, and LESSEE shall not claim any damages by reason of the termination of the Lease
pursuant to these terms, LESSEE shall, however, be entitled to a pro rata credit, in the
event of any such taking, against the rental provided for herein, for any portion of the term
during which LESSEE is not permitted to occupy leased Premises by reason of such taking.
10) LESSEE shall, at all times, save harmless, defend and indemnify LESSOR against any action,
claim, demand, liability or damage which may be imposed upon or incurred by LESSOR as a
consequence of, or arising out of any act, default, or omission on the part of LESSEE,
LESSEE's agents, employees or invitees, and in connection with the operation of LESSEE's
business or the use or occupancy by LESSEE of Leased Premises.
11) Should LESSEE continue to remain in possession of Leased Premises at the end of the term,
or any extension thereof, LESSEE's tenancy shall be month to month and extend at the
mutual consent of LESOR and LESSEE, at the same rate of the last payment prior to
expiration.
12) in the event of default for ten (10) days in the payment of any installment of the monthly
rental by LESSEE, and further in the event of any other default by LESSEE in the performance of
any of the terms hereof, LESSOR shall be entitled immediately to terminate this Lease. Failure
by LESSOR to declare any default immediately upon occurrence or delay in taking action in
connection therewith shall not waive such default. LESSEE shall pay all costs of connection,
including reasonable attorney fees, if all or any part of the rent reserved herein is collected
after maturity with the aid of any attorney; and also LESSEE shall pay reasonable attorney
fees in the event it becomes necessary for LESSOR to employ an attorney to force LESSEE
to comply with any of the covenants, obligations, or conditions imposed by this Lease.
13) LESSOR and LESEE hereby release the other from any and all liability or responsibility to the
other or anyone claiming through or under them by way of subrogation.
14) This Lease supersedes and replaces all prior Leases as to Leased Premises and between
LESSEE and LESSOR herein.
15) LESSEE shall be granted access to the Leased Premises upon full execution of this lease
16) Lessee agrees to abide by Exhibit "A", Property Rules and Regulations attached.
(Signatures on Following Page)
Executed in duplicate on the day and year first above written.
LESSEE: B & B TACO GARAGE, LLC
ictious name: "The Fold"
By:
Bart Bariogie, aut ized member
LESSOR: Old Cantrell Road Partnership
By: _✓
Kay Marls, operty Manager
EXHIBIT "A"
PROPERTY RULES AND REGULATIONS
The following Rules and Regulations shall apply to the Premises, Common Areas, the Land and the
appurtenances thereto:
1. Sidewalks, doorways, and other areas around a leased premises shall not be obstructed by
tenants or used by any tenant for purposes other than ingress and egress to and from their respective
leased premises.
2. No sweepings, rubbish, rags or other unsuitable material shall be thrown or deposited therein.
Damage resulting to any such fixtures or appliances from misuse by a tenant or its agents, customers,
employees or invitees, shall be paid by such tenant.
3. No signs, advertisements, notices or window treatments shall be painted or affixed without
the prior written consent of Landlord.
4. Tenant shall cooperate with Landlord in keeping its leased premises neat and clean.
S. Tenant shall not make or permit any improper, objectionable or unpleasant noises or odors
on the Premises or otherwise interfere in any way with other tenants or persons having business with
them.
6. No machinery of any kind (other than equipment normally used for the Permitted Use) shall
be operated by tenant on its lease premises without Landlord's prior written consent, nor shall any
tenant use or keep in the Shopping Center any flammable or explosive fluid or substance.
7. Landlord will not be responsible for lost or stolen personal property, money orjewelry of
tenant's leased premises or public or common area regardless of whether such loss occurs when the
area is locked against entry or not.
8. There will be no smoking in the premises or on the property, except for Landlord approved
designated areas.
9. Parking lot is private and for building customers and employees use along with patrons and
employees of The Fold restaurant only. There are no assigned/reserved spaces.
10. No littering;
11. No overnight parking without permission from property manager;
12. Park in dedicated parking spaces only;
13. Parking lot does have surveillance.
LESSEE INITIAL
���� LESSOR INITIAL