05/18/2020 BOARD OF SELECTMEN Agenda Packet

Home Browse Search

RENT Rents are due to Landlord for all dates of operation including sales made before or after the minimum term of the lease. Tenant agrees to pay Landlord rent at the minimum rate of$6.75 per square foot, plus 2% of the gross sales in excess of $250,000-00. The Tenant shall promptly pay all rent herein prescribed. The terms of the minimum payment shall be as follows for the rent of$11.,225.25: $ 2,500.00 due on the signing of the lease($1,500.00 security deposit& $1,000.00 rent) 1,1500,00 liquor security deposit due upon receipt of liquor I* icense $ 2,500.00 due on June 1,2020 $ 2,500.00 due on July 5, 2020 $ 2,500.00 due on July 25,2020 2,725.25 due on August 10,2020 $11,225.25 Total Base Rent $ 1,500.00 Security Deposit $ 1,500.00 Liquor Deposit, The percentage rent will be payable on a weekly basis as rents are due with the weekly sales report. Tenant agrees that,, at the Landlord's option, Tenant shall pay a "late charge" of one and one half percent per month of any installment or rent when paid more than seven (7) days after the due date. In the event that Tenant is unable to secure a retail liquor license by July I st, 2020 after reasonable effort, Section 3 Will be voided and replaced by the terms set forth in Exhibit F, 4. USE AND OPERATION",, COMPLIANCE, WITH LAWS (A) The Premises shall be occupied and used only for the purpose set forth in Paragraph 1. Tenant agrees to operate 100% of the premises as shown outlined in red on Exhibit A during the hours.specified herein during the term of this lease unless prevented from doing so because of fire, accident, act of God, or other cause beyond Tenant's control, excluding financial causes, and Tenant agrees to keep open the premises and diligently operate the business conducted therein, using -a sufficient number of adequately trained personnel for efficient service, during such hours and on such days and evenings of the week as may be reasonably determined by Landlord. Tenant agrees to conduct Tenant's business at all times in a 'I first class manner consistent with reputable business standards and practices, in good faith and in such manner that the high reputation of the Popponesset Marketplace is maintained. Tenant also agrees to conduct Tenant's business under the trade name set forth in.Paragraph I or under such other trade -name satisfactory to and approved in writing by Landlord. Approval not to be unreasonably withheld. Landlord and Tenant agree that having the premises open for business during such hours and on such days and