01/06/2020 BOARD OF SELECTMEN Agenda Packet

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i l 1 j 5 I I 13. Security Deposit: $2329.14, to be delivered to Landlord on the Execution Date. 14. Guaranty,: The guaranty of this Lease that is attached hereto as Exhibit C. The guarantor under the Guaranty is referred to as the"Guarantor". 15. Radius Restriction., Because of the importance of the Percentage Rent, Tenant agrees that during the Term of this Lease neither Tenant,nor any affiliate of Tenant, shall operate another similar store within tell(l 0)miles of the Shopping Center. Section Z. Premises, Landlord hereby leases the Premises to Tenant, for the Term, beginnhlg on the Term Commencement Date. In connection with its use of the Premises,Tenant n-lay use, on a non-exclusive basis, such"con-anon areas" as are horn time to time available for the carman.use of Tenant and other tenants. Landlord is delivering the Premises to Tenant hi its"as-is"condition except for modification of the rear door of the Premises in which Landlord shall modify to be fireproof and which shall contain two (2) deadbolt locks, without any representation or warranty fi om Landlord with regard to the condition of the Premises. There are no known defects. Landlord shall not be required to perform any work to the Premises or the Shopping Center to prepare for Tenant's occupancy. Tenant shall perfonn all work to prepare the Premises for the operation of Tenant's business, such work to be perfornied ui accordance with the provisions of Section 6.2 hereof. Section 3. Rent. Section 3.1 General. Tenant shall pay the Mizlinium Rent and Percentage Rent as well as all Extra Charges. The rents and charges that are in addition to the Minimum Rent are referred to as the "Additional Rent". The Minimum Rent, together with the Additional Rent, is referred to as the "Rent". Beginning on the Rent C!olinuencement Date, Tenant shall pay the Rent in monthly installments, in advance on the fast (l st) day of each month. Notwithstanding the foregoing, (a) any items of Additional Rent that are not payable on a regular monthly basis shall be paid to Landlord within ten (10) days after demand, and (b) Percentage Rent shall be due on the tenth(10"')day of every month after the breakpoint for the applicable year has been reached. The Rent shall con-imel7nce on the Rent Gonmiencement Date. The Rent for any partial calendar month at the beginning or end of the Term of the Lease shall be prorated on a daily basis. The Rent shall be payable to Landlord or, if Landlord shah so direct in wi iting, to Landlord's agent or nominee, at the office of Landlord or such place as Landlord may designate. Rent and any other sums due hereunder not paid within five (5) business days of the due date shall bear interest at the lesser of-, (i) four percent(4%)per annuin above the base rate announced from tinge to time by Bank of America or its successor or(ii) the tighest lawful rate of interest permitted at the time in The Gonmuonwealth of Massachusetts, Rani the due date until paid. Tenant shall also pay to Landlord a late fee of$50.00 for any delinquent payment made beyond five (5) business days past the due date. Tenant shall pay the Rent without abatement, deduction, or setoff.The Minianunl Rent payable by Tenant hereunder is intended to be"triple net"to Landlord,meaning that Tenant shall pay as Additional Rent all expenses associated with the maintenance, ownership and operation of the Premises, except only as otherwise expressly provided herein to the contrary, yielding to Landlord the Minimum Rent hereunder in its entirety, net of such expenses. As used in this Lease, the term."Tenant's Pro- rata Share"means the percentage obtained by dividing the square footage of the Premises by the leasable square footage of the retail space M' the Shopping Center(the `Leasable Space"), To be clear,the Leasable Space shall take into account the tenant operating a bowling alley 'in the Shopping Center(the"Bowling Alley Tenant"),and any successor tenant of the space being leased to the Bowling Alley Tenant, such that the Leasable Space shall not include fifty (50%) percent of the space being used for bowling alleys, it being expressly understood that only fifty (50%) percent of the blowing lane area shall qualify as retail space, and the remaining fifty (50%) percent shall be deemed non-retail space, in calculating Tenant's Pro-rata Share. Section 3.2. Percentage.Rent. The Percentage Rent shall be payable in arrears on or before the tenth (1001) day of the month after which Gross Sales exceed the breakpoint as outlined in Section 1 above. OCTrh 3