98-059 Ordinance - Laserfiche WebLink

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Section IV Base Rental/Percentage Rental Lessee agrees to pay base manthly rental of $300.00 per month which rent shaU be abated ? each year in the months of November and December. Said abatement, however, shall in no way affect the percentage rental as hereinafter described. Lessee shall in addition to said base rental pay the following graduated rental based upon the gross sales during any given mon#h of the lease term: Sales Voiume Additional 11? $04501000 1 % of the gross $50,0014200,000 2% of the gross $200,001-and over 3% of the gross Lessee agrees to report its gross sales to Lessor on a weekly basis, that being the Tuesday following the previous weeks sales. For gurposes of this agreement, a week shaU 1e from Monday through Sunday. Lessee shaU pay to Lessor the pmcentage additional rent on the first Tuesday of each and every month during the lease term. Lessor shall have the right to audit inventory, bank deposits, purchase cash register recea.pts and the like without notice. If after audit, it is detemlined that the gross sales ue under repafrted by more than 109b, then in that event, the Lessar may cancel this agreement andior at Lessor's op[ion oollect the underpayment, plus intierest at 10% per annum and a stipulated penalty of $500.00. Lessee further agrees to pay all expenses in connection with the operation of its business. Section V Stock and Manner of Sales Lessee agrees to cariy in stflck at all times a full line of new and salable stock of such merchandise as is commonly carried in a golf pro shop; and the amount of such stock shaU be fully complete and ready for sale at all times during business hours of the concession. I.essee further agmes that it will mark all goods in plaif? figures and will strictly maintain one price in the sale of goods, and that it will not sedl its mea+chandise fdr a price higher than that asked for similar goods by adw stores, and that whenever the asking price of goods is too high, it will make such reduction as lessor shaU require. Lessee agrees to uPerate its concession in a proper and businesslilQe manne.r, and in accordanoe with the rules and regulations of the Lessor as prescribed from time to time by lessor. Lessee finally agrees that Lessor shaU retain a non-exclusive right to sell tees, gloves, golf balls and other low-priced, commonly used golf items, at Springvale. 2