COMMERCIAL LEASE
THIS LEASE is made on the 1st day of October 1996.
The Landlord hereby agrees to lease to the Tenant, and the Tenant hereby agrees to hire and take from the Landlord, the Leased Premises described below pursuant to the terms and conditions specified herein:
LANDLORD: Address: |
Leisure Time Services 119 Linnet Street Bayonne, NJ 07002 |
TENANT (S): Address: |
TAM RESTAURANT Holding Corp. 1163 Forest Avenue Staten Island, NY 10310 |
1. Leased Premises. The Leased Premises are those premises described as:
The entire Parcel of land with 6000 sq. ft. structure known as 119 Linnet Street, Bayonne, NJ 07002
2. Term. The term of the Lease shall be for a period of 5 1/4 year (s) commencing on the 1st day of October, 1996 ending on the 31st day of Dec., 1996 unless sooner terminated as hereinafter provided. If Tenant remains in possession of the Leased Premises with the written consent of the Landlord after the lease expiration date stated above, this Lease will be converted to a month-to-month Lease and each party shall have the right to terminate the Lease by giving at least one months' prior written notice to the other party.
3. Rent. The Tenant agrees to pay the ANNUAL RENT of Thirty thousand Dollars ($30,000) payable in equal installments$ 2,500 in advance on the first day of each and every calendar month during the full term of this Lease.
4. [DELETED] See Addendum# 1
5. Security Deposit. The sum of Five thousand Dollars ($5,000) is deposited by the Tenant with the Landlord as security for the faithful performance of all the covenants and conditions of the lease by the said Tenant. If the Tenant faithfully performs all the covenants and conditions on his part to be performed, then the sum deposited shall be returned to the Tenant.
6. Delivery of Possession. If for any reason the Landlord cannot deliver possession of the leased property to the Tenant when the lease term commences, this Lease shall not be void or voidable, nor shall the Landlord be liable to the Tenant for any loss or damage resulting therefrom. However, there shall be an abatement of rent for the period between the commencement of the lease term and the time when the Landlord delivers possession.
7. Use of Leased Premises. The Leased Premises may be used only for the following purpose: storage
8. Utilities. Except as specified below, the Tenant shall be responsible for all utilities and services that are furnished to the Leased Premises. The application for and connecting of utilities, as well as all services, shall be made by and only in the name of the Tenant: (List exceptions, if any)
None
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