Parking Rental Agreement
Parking Rental Agreement
Exhibit 10.11
LEASE
THIS LEASE dated this 28 day of February, 2009 between Henry Amalgamated LLC, the Lessor and
th
WITNESSETH
1. Description of Premises.
The Lessor hereby leases and demises to the Lessee, the following: The parking lots known as Marble Parking
Lot - 935 E. Market Street, North Firehouse Parking Lot 1 - 1049 E. Market Street , and North Firehouse Parking
Lot 2 - 1117 E. Market Street, Indianapolis, IN 46202. As highlighted in red on Exhibit ‘B’ attached.
2. Use of Premises.
3. Term.
For a term of five (5) years, commencing March 1, 2009. This lease then becomes co-terminal with the lease
4. Rent.
All rent due hereunder shall be paid monthly, in advance, on or before the first day of each month beginning
March 1, 2009.
In the event Lessor fails to receive the monthly rental on or before the first day that said rent is due and
payable, and said monthly rental is not paid within five (5) days following Lessee’s receipt of written notification
from Lessor that said monthly rental is due and payable and remains unpaid, Lessee shall pay to Lessor a five
5. Vacation of Premises.
The Lessee will promptly pay the rent at the time and in the manner aforesaid, and at the expiration of the
term will peacefully yield up to the Lessor said premises in as good order and repair as when delivered of the
Lessee, damage by fire, casualty, war or insurrection, riot or public disorder, or act upon the part of any
governmental authority, ordinary wear and tear, and damage by the elements excepted.
The Lessee covenants that no waste or damage shall be committed upon or to the demised premises, that the
premises shall be used for the purposes hereinabove stated, and shall not be used or permitted to be used for any
other purpose, that said premises shall not be used for any unlawful purpose and no violations of law or ordinance
shall be committed thereon, that no advertisement or notice will be affixed to any part of the building without the
consent of the Lessor and that any additions or improvements placed upon the premises by either party during the
term, except the movable property of the Lessee, shall be the sole property of the Lessor. mutually appointed by
Lessor and Lessee, then Lessee, shall have the right and option to cancel this lease by giving the Lessor notice of
such election within thirty (30) days after the occurrence of such damage or destruction and this lease shall terminate
not later than thirty (30) days after the date such notice is given, with the specific date of termination to be at the
Lessee’s option.
In event Lessee or any part thereof come into possession of any receiver, assignee, trustee in bankruptcy,
sheriff, or other officer, by and through any court process, or by operation of law, Lessor may at his option terminate
this lease at any time thereafter by notice to said Lessee and may accept rent from such receiver, trustee, assignee or
officer without affecting or impairing his rights to terminate this lease at any time thereafter or
impairing any other right of Lessor under this lease.
11. Eminent Domain.
If a substantial portion of the premises are condemned or taken by any public authority under the power of
eminent domain, either Lessor or Lessee shall have the right as of the day possession shall be taken by such public
authority to terminate this Lease by notice thereof to the other, in writing, and rent shall be paid to the date of such
possession or proportionate refund made by the Lessor if rent has been paid in advance. If neither party shall elect to
terminate the Lease by reason of such condemnation, the rent shall be reduced by the proportion of the floor area of
the premises taken by such condemnation, and Lessor shall make all necessary repairs or alterations so as to
constitute the remaining premises a complete architectural unit. All compensation awarded or paid for any taking or
acquiring under the power or threat of eminent domain, whether for the whole or a part of the Premise, shall be sole
property of Lessor, whether such damages shall be awarded as compensation for diminution in the value to the
leasehold or to the fee of the Premise or otherwide, and Lessee hereby assigns to Lessor all of Lessee’s right, title
and interest in and to any and all such compensation; provided, however, that Lessor shall not be entitled to any
award specifically made to Lessee, for loss of business, taking of Lessee’s, (excluding its interest under this Lease),
12. Alterations. Intentionally deleted.
The Lessor shall have access to the demised premises at all reasonable times for the purposes of inspection or
for making such improvements, repairs and alterations as Lessor may reasonably deem expedient, or for showing the
premises to others. Furthermore, the Lessor may at any time within ninety (90) days preceding the expiration of the
term of this lease affix to any suitable part of the premises a notice for letting and keep the same affixed without
hindrance or molestation.
14. Right on Default.
If the Lessee shall neglect or fail to perform or observe any of the covenants contained herein, on Lessee’s
part to be observed and performed, for thirty (30) days after notice by the Lessor of such breach, the Lessor may
lawfully enter the premises or any part thereof and repossess the same, and expel the Lessee and those claiming
under and through Lessee and remove Lessee’w effects, without being deemed guilty of any manner of trespass and
upon entry as aforesaid, this lease shall terminate and shall wholly expire; provided, however, such cure period shall
be only ten (10) days with respect to Lessee’s covenant to pay rent. The Lessee covenants that in case of such
termination Lessee will indemnify the Lessor against all loss of rent during the residue of the term fees, which the
15. Non-Waiver Clause.
No waiver by Lessor of any default by Lessee shall be effective unless in writing or operate as a waiver of any
other default or of the same default on a future occasion. Lessor’s acceptance of rent shall not be deemed a waiver as
16. Lessor’s Remedies.
All remedies of Lessor shall be cumulative to the full extent allowed by applicable law. No delay or omission
on the part of Lessor in the exercise of any right or remedy shall operate as a waiver thereof, and no single or partial
exercise by Lessor of any right or remedy shall preclude other or further exercise thereof, or of any other right or
remedy.
17. Holdover.
It is agreed that a holding over beyond the expiration of the term herein specified shall operate as an extension
of this lease from month-to-month only, with the monthly rent increasing 125% with Lessee or Lessor to give thirty
(30) days written notice at the end of any month to terminate the month-to-month extension. No holdover shall be
It is agreed that this lease does not grant a continuance of light and air over any property adjoining the leased
premises.
19. Lessor’s Non-Liability.
It is agreed that the Lessor shall not be liable to the Lessee or any other person on the demised premises or in
the building by the Lessee’s consent, invitation or license, expressed or implied, for any damage either to person or
property sustained by reason of the condition of said premises or building, or any part thereof, or arising from the
bursting or leaking of any water, gas, sewer, or steam pipes, or due to the act or neglect of any employee of the
Lessor, or the act of any Co-Lessee or any occupant of said building or other person therein, or due to any casualty
or accident in or about said building unless resulting from the Lessor’s willful wrongful act or omission.
20. Lessee’s Liability.
The Lessee agrees to be responsible for any damage to the property of the Lessor which may result from any
use of the demised premises or any act done thereon by the Lesse or any person coming or being thereon by the
license of the Lessee, expressed or implied, and will also save the Lessor harmless from any liability to any other
person for damage to person or property resulting from any such causes, unless resulting from the Lessor’s willful
Except as herein contained, no representations have been made as to the condition of the demised premises. It
is agreed that the cost of maintenance and repairs shall be borne, respectively, by the Lessor and/or the Lessee,
Lessee shall comply with all statutes, ordinances, rules, orders, regulations and requirements of the federal,
state, county and city governments and all departments thereof, applicable to the demised premises. Lessor
covenants and warrants that Lessee, on payment of rents and other sums due hereunder and the performance of all
its covenants herein contained, shall have the full and unrestricted use, possession and enjoyment of
the demised premises during the term hereof, subject only to the provisions of paragraph 25
hereof.
25. Subordination.
This lease shall be subordinate to any recorded or unrecorded mortgage lien(s) securing financing on the
demised premises for the duration of this lease. If there is a default by the Lessor under any such mortgage, it shall
not affect the tenancy of Lessee so long as the Lessee is not in default hereunder.
26. Signs. Intentionally deleted.
27. Surrender of Premises.
Upon the termination of this Lease, Lessee shall, at Lessee’s sole cost, remove all trade fixtures, office
furniture and equipment (excluding electric light fixtures) installed by Lessee unless otherwise agreed to in writing
by Lessor. Lessee shall also promptly repair any damage caused by such removal. Property not so removed shall be
deemed abandoned by the Lessee at the termination of this Lease and title to the same shall thereupon pass to Lessor
except that the Lessor shall have the right to charge the Lessee for time, labor, machinery, trucking and dumping to
remove Lessee’s abandoned property, and to place the subject Premises in the same broom clean condition that the
Premises were in at the time the Lessee first took possession of the subject Premises. Lessee shall indemnify the
Lessor against any loss or liability resulting from delay by Lessee in so surrendering the premises, including without
limitation, any claims made against Lessor by any succeeding Lessee founded on such delay.
28. Waiver of Subrogation.
The Lessor and the Lessee hereby release each other and each others’ Lessees and Sub-Lessees (and the
employees, agents, licensees, customers and invitees of each other and such Lessees and Sub-Lessees) from any and
all claims and liability for any loss, damage or injury by reason of fire or other casualty which could be insured
against under a standard fire and extended coverage insurance policy issued on an all-risk basis including loss,
None
None
Each party shall pay the other party’s reasonable legal costs and attorney’s fees incurred in successfully
enforcing against the other party any covenant, term or condition of this lease.
The Lessee shall carry Public Liability and Property Damage Insurance in amounts of not less than $1,000,000
Lessee shall furnish the Lessor with a Certificate of such insurance naming the Lessor an additional insured,
said Certificate to be submitted to Lessor no later than five (5) days from the commencement date of this lease.
34. Notices.
All notices to be given hereunder by either party shall be in writing and given by personal delivery to Lessor
or the Lessee, or shall be sent by United States Certified or Registered Mail addressed to the party intended to be
notified at the post office address of such party designated below or at such other address as may be designated by
notice hereunder, and notice given as aforesaid shall be a sufficient service thereof and shall be deemed given as of
the date when received. Lessee acknowledges that the Lessor may implement Rules & Regulations or make changes
to the Rules & Regulations at any time given thirty (30) days written notice to Lessee.
35. Construction.
It is understood that the term Lessor and Lessee, used herein, shall be construed to mean Lessors and Lessees
where there is more than one, and the necessary grammatical changes required to make the provisions hereof apply
either to corporations or individuals, men or women shall in all cases be assumed as though fully expressed.
The covenants and agreements contained herein are binding upon the parties hereto and their respective heirs,
In the event that any of the provisions of this lease shall contravene or be held invalid under the laws of the
particular state, county or jurisdiction where used, such contravention or invalidity shall not invalidate the whole
agreement, but it shall be construed as if not containing the particular provision of provisions held to be invalid, and
the rights and obligations of the parties shall be construed and enforced accordingly.
The validity, construction and enforcement of this agreement shall be governed by and construed in
Upon request of either party hereto, the parties hereto shall execute and acknowledge for recording a
Memorandum of Lease. The party requesting the Memorandum of Lease, and recording thereof, shall pay the cost of
40. Common Area Maintenance. The common area maintenance associated with the parking areas will be charged
for on a direct cost bases and will include landscaping, maintenance of parking areas, and any other improvements
WITNESS the signatures and seals of the above parties the day and year first written.
Signed, sealed and delivered in the presence of
(Lessor)
By: /s/ Karl Northern
Printed: Karl Northern
Title: Co-Owner
(Lessee)
By: /s/ Thomas Harvey
Printed: Thomas Harvey
Title: CFO
Address of Lessor:
Address of Lessee:
1002 E. Washington Street, Suite 300
1002 E. Washington Street, Suite 300
Indianapolis, IN 46202
Indianapolis, IN 46202