Shopping Center Lease Agreement Between Multiple Landlords and Tenant

Answer:

TION 19

X ASSIGNMENT AND SUBLETTING 21

XI DEFAULTS; REMEDIES 23

XII LEGAL COSTS 26

XIII QUIET ENJOYMENT 27

XIV ESTOPPEL CERTIFICATES 28

XV ENVIRONMENTAL COMPLIANCE 29

XVI NOTICES 31

XVII MISCELLANEOUS 32

XVIII EXHIBITS 35

LEASE SUMMARY

This Lease Summary is provided for the convenience of the parties and is not intended to alter or amend the terms and conditions of the Lease. In the event of any conflict between the Lease Summary and the Lease, the Lease shall control.

Lease Date: June 1, 2024
Landlord:

FAIRVIEW INVESTMENT PARTNERS, LLC
DIAMOND PACIFIC ARCADIA, LLC
SKYLOFT REAL ESTATE INVESTMENT, LLC
KER FAMILY TRUST DATED MARCH 3, 2004
GREEN PACIFIC GROUP, LLC
CH MAX, LLC

Tenant: LI LAOSAN CATERING MANAGEMENT CO, LLC
Premises: 56 EAST DUARTE ROAD, #106, Arcadia, California 91006
Term: Initial term of 5 years commencing on June 1, 2024, and expiring on May 31, 2029.
Base Rent: $5,000 per month, subject to adjustments as provided in the Lease.
Security Deposit: $10,000
Permitted Use: Operation of a catering business and related activities.
Insurance Requirements: As specified in Article VIII.
Notices: As specified in Article XVI.
Additional Provisions: As specified in the Lease and any attached Exhibits.

This Lease Summary is a brief overview and does not contain all the terms and conditions of the Lease. The parties should refer to the full Lease document for complete details.

ARTICLE I PREMISES

1.1 Lease of Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the premises located at 56 EAST DUARTE ROAD, #106, Arcadia, California 91006 (the "Premises"), upon the terms and conditions set forth in this Lease.

1.2 Condition of Premises. Tenant accepts the Premises in its "as-is" condition as of the Lease Date, subject to any Landlord obligations to perform work or make improvements as expressly set forth in this Lease.

1.3 Common Areas. Tenant shall have the non-exclusive right, in common with other tenants of the Shopping Center, to use the common areas of the Shopping Center, subject to the terms and conditions of this Lease and any rules and regulations established by Landlord.

ARTICLE II TERM

2.1 Initial Term. The initial term of this Lease (the "Initial Term") shall commence on June 1, 2024 (the "Commencement Date"), and shall expire on May 31, 2029, unless sooner terminated as provided in this Lease.

2.2 Option to Extend. Tenant shall have the option to extend the term of this Lease for one additional period of five (5) years (the "Extension Term"), upon written notice to Landlord given not less than six (6) months prior to the expiration of the Initial Term, provided that Tenant is not in default under this Lease at the time of giving such notice or at the commencement of the Extension Term. The Base Rent for the Extension Term shall be as set forth in Section 3.2.

ARTICLE III RENT

3.1 Base Rent. Tenant shall pay to Landlord as base rent for the Premises the sum of $5,000 per month (the "Base Rent"), in advance, on the first day of each calendar month during the term of this Lease. Base Rent for any partial month shall be prorated based on the actual number of days in such month.

3.2 Rent Adjustments. The Base Rent shall be subject to adjustment on each anniversary of the Commencement Date, as follows: [Insert specific rent adjustment terms here, such as a fixed percentage increase or an adjustment based on a cost-of-living index.]

3.3 Additional Rent. All amounts payable by Tenant under this Lease other than Base Rent shall be deemed "Additional Rent." Additional Rent and Base Rent are collectively referred to as "Rent."

ARTICLE IV ACCOUNTING

4.1 Books and Records. Tenant shall keep accurate books and records of its operations at the Premises in accordance with generally accepted accounting principles. Landlord shall have the right to inspect and audit such books and records upon reasonable notice to Tenant.

4.2 Financial Statements. Upon Landlord's request, Tenant shall provide Landlord with financial statements and other financial information reasonably requested by Landlord, subject to Tenant's right to designate such information as confidential.

ARTICLE V TAXES

5.1 Real Property Taxes. Tenant shall pay, as Additional Rent, Tenant's proportionate share of all real property taxes and assessments levied against the Shopping Center, as determined by Landlord.

5.2 Personal Property Taxes. Tenant shall pay all taxes and assessments levied against Tenant's personal property and trade fixtures located at the Premises.

5.3 Other Taxes. Tenant shall pay all other taxes, charges, and assessments attributable to Tenant's use of the Premises, including any sales, use, or excise taxes.

ARTICLE VI CONDUCT OF BUSINESS BY TENANT

6.1 Use of Premises. Tenant shall use the Premises solely for the Permitted Use specified in the Lease Summary and for no other purpose without Landlord's prior written consent.

6.2 Compliance with Laws. Tenant shall comply with all applicable laws, ordinances, regulations, and rules in its use and occupancy of the Premises.

6.3 Operating Hours. Tenant shall keep the Premises open for business during the hours specified by Landlord, subject to applicable laws and regulations.

6.4 Signage. Tenant shall not install any signs on the Premises without Landlord's prior written approval, which shall not be unreasonably withheld.

6.5 Trash and Refuse. Tenant shall keep the Premises and the common areas free of trash and refuse and shall comply with Landlord's rules and regulations regarding the disposal of trash and refuse.

ARTICLE VII MAINTENANCE, REPAIRS AND ALTERATIONS

7.1 Maintenance and Repairs by Tenant. Tenant shall, at its sole cost and expense, maintain the Premises in good condition and repair, including all plumbing, electrical, and HVAC systems, and shall make all necessary repairs and replacements.

7.2 Maintenance and Repairs by Landlord. Landlord shall maintain the common areas of the Shopping Center in good condition and repair, including the parking areas, landscaping, and exterior lighting.

7.3 Alterations. Tenant shall not make any alterations, additions, or improvements to the Premises without Landlord's prior written consent, which shall not be unreasonably withheld. All alterations, additions, and improvements made by Tenant shall become the property of Landlord upon termination of this Lease, unless Landlord requires their removal.

ARTICLE VIII INSURANCE; INDEMNITY

8.1 Tenant's Insurance. Tenant shall, at its sole cost and expense, obtain and maintain during the term of this Lease the following insurance coverage:

(a) Commercial general liability insurance with limits of not less than $1,000,000 per occurrence and $2,000,000 in the aggregate; (b) Property insurance covering Tenant's personal property and trade fixtures; (c) Workers' compensation insurance as required by law; (d) Any other insurance required by Landlord.

8.2 Landlord's Insurance. Landlord shall maintain insurance covering the Shopping Center, including property insurance and liability insurance, in such amounts and with such coverages as Landlord deems appropriate.

8.3 Indemnity. Tenant shall indemnify, defend, and hold harmless Landlord and its agents from and against any and all claims, liabilities, damages, and expenses arising out of or related to Tenant's use or occupancy of the Premises, except to the extent caused by Landlord's negligence or willful misconduct.

ARTICLE IX DAMAGE AND RESTORATION

9.1 Damage to Premises. If the Premises are damaged by fire or other casualty, Tenant shall promptly notify Landlord. If the damage is minor, Tenant shall repair the damage at its sole cost and expense. If the damage is substantial, Landlord shall have the option to repair the damage or terminate this Lease.

9.2 Restoration. If Landlord elects to repair the damage, this Lease shall continue in full force and effect, and Landlord shall proceed with reasonable diligence to restore the Premises to their condition prior to the damage. Rent shall be abated proportionately during the period of restoration.

9.3 Termination. If Landlord elects to terminate this Lease, Rent shall be prorated as of the date of termination, and Tenant shall promptly vacate the Premises.

ARTICLE X ASSIGNMENT AND SUBLETTING

10.1 Assignment and Subletting. Tenant shall not assign this Lease or sublet the Premises, in whole or in part, without Landlord's prior written consent, which shall not be unreasonably withheld.

10.2 Permitted Transfers. Notwithstanding Section 10.1, Tenant may assign this Lease or sublet the Premises to an affiliate or subsidiary of Tenant without Landlord's consent, provided that Tenant remains liable for all obligations under this Lease.

10.3 Assignment by Landlord. Landlord shall have the right to transfer and assign its interest in this Lease and the Shopping Center without Tenant's consent.

ARTICLE XI DEFAULTS; REMEDIES

11.1 Events of Default. The following shall constitute events of default by Tenant under this Lease:

(a) Failure to pay Rent when due; (b) Failure to perform any other obligation under this Lease; (c) Abandonment of the Premises; (d) Bankruptcy or insolvency of Tenant.

11.2 Remedies. Upon the occurrence of an event of default, Landlord shall have the right to terminate this Lease and recover possession of the Premises, and to pursue any other remedies available at law or in equity.

11.3 Late Charges. If Tenant fails to pay any Rent when due, Tenant shall pay to Landlord a late charge equal to 5% of the overdue amount, plus interest at the rate of 10% per annum from the due date until paid.

ARTICLE XII LEGAL COSTS

12.1 Attorney's Fees. If either party brings any action or proceeding to enforce the terms of this Lease, the prevailing party shall be entitled to recover its reasonable attorney's fees and costs.

ARTICLE XIII QUIET ENJOYMENT

13.1 Quiet Enjoyment. Landlord covenants that Tenant shall have quiet enjoyment and possession of the Premises during the term of this Lease, subject to the terms and conditions of this Lease.

ARTICLE XIV ESTOPPEL CERTIFICATES

14.1 Estoppel Certificates. Upon Landlord's request, Tenant shall execute and deliver an estoppel certificate certifying such facts and agreeing to such matters as Landlord may reasonably request.

ARTICLE XV ENVIRONMENTAL COMPLIANCE

15.1 Environmental Laws. Tenant shall comply with all applicable environmental laws and regulations in its use and occupancy of the Premises.

15.2 Hazardous Materials. Tenant shall not use, store, or dispose of any hazardous materials on the Premises without Landlord's prior written consent, except for customary cleaning and office supplies used in accordance with applicable laws.

15.3 Indemnity. Tenant shall indemnify, defend, and hold harmless Landlord from and against any and all claims, liabilities, damages, and expenses arising out of or related to Tenant's violation of environmental laws or the presence of hazardous materials on the Premises.

ARTICLE XVI NOTICES

16.1 Notices. All notices required or permitted under this Lease shall be in writing and shall be deemed given when delivered personally, sent by certified mail, return receipt requested, or sent by a nationally recognized overnight courier service, addressed to the parties at their respective addresses set forth in the Lease Summary, or at such other addresses as either party may designate by notice to the other.

ARTICLE XVII MISCELLANEOUS

17.1 Entire Agreement. This Lease constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Lease.

17.2 Amendments. This Lease may be amended only by a written instrument executed by both parties.

17.3 Severability. If any provision of this Lease is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

17.4 No Waiver. The failure of either party to enforce any provision of this Lease shall not be deemed a waiver of that provision or any other provision of this Lease.

17.5 Governing Law. This Lease shall be governed by and construed in accordance with the laws of the State of California.

17.6 Successors and Assigns. This Lease shall be binding upon and inure to the benefit of the parties and their respective successors and assigns.

17.7 Force Majeure. Neither party shall be liable for any failure or delay in performing its obligations under this Lease due to causes beyond its reasonable control, including acts of God, war, terrorism, natural disasters, and labor disputes.

ARTICLE XVIII EXHIBITS

18.1 Exhibits. The following exhibits are attached to and made a part of this Lease:

(a) Exhibit A: Legal Description of the Shopping Center (b) Exhibit B: Floor Plan of the Premises (c) Exhibit C: Rules and Regulations (d) Exhibit D: Rent Adjustment Schedule

IN WITNESS WHEREOF, the parties have executed this Lease as of the Lease Date.

LANDLORD:

FAIRVIEW INVESTMENT PARTNERS, LLC By: ___________________________ Name: _________________________ Title: __________________________

DIAMOND PACIFIC ARCADIA, LLC By: ___________________________ Name: _________________________ Title: __________________________

SKYLOFT REAL ESTATE INVESTMENT, LLC By: ___________________________ Name: _________________________ Title: __________________________

KER FAMILY TRUST DATED MARCH 3, 2004 By: ___________________________ Name: Bart Y. Ker Title: Trustee

By: ___________________________ Name: Teresa C. Ker Title: Trustee

GREEN PACIFIC GROUP, LLC By: ___________________________ Name: _________________________ Title: __________________________

CH MAX, LLC By: ___________________________ Name: _________________________ Title: __________________________

TENANT:

LI LAOSAN CATERING MANAGEMENT CO, LLC By:

Shopping Center Lease Agreement Between Multiple Landlords and Tenant

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