Prop-Al Raimondi 3-4-02

Document Sample
Prop-Al Raimondi 3-4-02 Powered By Docstoc
					                               G C PROPERTIES, INC.
                                2152 Dupont Drive, Suite 203
                                      Irvine, CA 92612
                             (949) 752-8811 (949) 752-2331 Fax



March 4, 2002




Mr. Al Raimondi
Mr. Patahapong Patansak
River Thai Restaurant
P.O. Box 874
Sky Forest, CA 92385

RE:    Proposed Lease Agreement
       Lake Arrowhead Village
       Lake Arrowhead, California

Dear Mr. Raimondi and Mr. Patansak:

Pursuant to our previous conversations, the following outlines the general terms and
conditions that I am prepared to submit to the Owner for approval for the above-
referenced location. If you are in agreement, please sign below where indicated and
return to my attention so that we may process a lease accordingly:

LANDLORD:                            LAV, LLC

TENANT:                              Al Raimondi and Patahapong Patansak

TENANT’S TRADENAME:                  River Thai Restaurant

SHOPPING CENTER:                     The property depicted on the attached site plan
                                     marked Exhibit “A”, commonly known as
                                     Lake Arrowhead Village, located in Lake
                                     Arrowhead, State of California.

PREMISES:                            Address of proposed premises: 28200 Highway
                                     189, Suite P-110, Lake Arrowhead, California –
                                     the area crosshatched on the attached Exhibit “A”
                                     containing approximately 3,000 square feet of
                                     gross leaseable area. Exhibit “A” is subject to
                                     change by the Landlord.
Al Raimondi and Patahapong Patansak
March 4, 2002
Page 2

MINIMUM RENT:                    Months 1 – 12 : $6,750.00 per month
                                 ($2.25 per square foot monthly).

RENT INCREASES:                  Four (4%) percent annually.

TERM:                            One hundred and twenty (120) months and the first
                                 partial month, if any, from the Rent
                                 Commencement Date.

USE:                             A first class full service restaurant serving fusion
                                 (Thai and Italian cuisine).

POSSESSION/
COMMENCEMENT DATE:               Tenant shall be deemed to have accepted possession
                                 of the premises (the “Commencement Date”) on the
                                 date Landlord delivers the Premises to Tenant.

MINIMUM RENT/
COMMENCEMENT DATE:               Minimum Rent and all applicable Additional
                                 Charges shall commence (the “Rent
                                 Commencement Date”) the earlier of
                                 (i) One hundred and twenty (120) days after
                                 the Possession Date as described above or (ii)
                                 the date upon which Tenant opens for business.

PERCENTAGE RENT:                 The amount by which 6% of sales exceeds the base
                                 rent on an annual basis.

REPORTING OF GROSS
RECEIPTS:                        Monthly.

ADDITIONAL RENT:                 Estimated at $.78 per square foot per month.

MERCHANT’S
ASSOCIATION DUES:                $.05 per square foot monthly.

UTILITIES:                       Tenant will pay for its own utilities, if applicable.

SECURITY DEPOSIT:                $6,750.00.
Al Raimondi and Patahapong Patansak
March 4, 2002
Page 3

SIGNAGE:                         Tenant shall be required to install signage in
                                 accordance with the Landlord’s sign criteria. Said
                                 signage is subject to the prior written approval of
                                 the Landlord and the approval of all governmental
                                 bodies having jurisdiction over the same. Tenant
                                 shall be responsible for the cost, design,
                                 construction and installation of said sign.

LANDLORD’S WORK:                 Landlord shall demolish the existing improvements
                                 and provide a demising wall between the premises
                                 and the adjacent space.

TENANT’S WORK:                   Landlord shall provide Tenant with a Tenant
                                 Improvement Allowance of $20.00 per square foot
                                 or $60,000.00.

RELOCATION:                      Tenant agrees that, before or during the Term,
                                 Landlord shall have the right to relocate Tenant
                                 to other space (“New Premises”) within the
                                 Shopping Center. Landlord shall pay for Tenant’s
                                 reasonable moving costs and the cost of installing
                                 and/or reinstalling substantially the same
                                 improvements in the New Premises.

ADDRESS FOR NOTICES:
Tenant:                          Al Raimondi
                                 Patahapong Patansak
                                 P.O. Box 874
                                 Sky Forest, CA 92385
Landlord:                        LAV, LLC
                                 P.O. Box 640
                                 Lake Arrowhead, CA 92352
                                 ATTN: Asset Manager

COMMISSION:                      Covered under separate agreement.

CONTINGENCIES:                   Credit Worthiness: This proposal is contingent
                                 upon Landlord’s review of Tenant’s current credit
                                 report. Tenant shall promptly deliver to Landlord
                                 the enclosed Credit Report form.
Al Raimondi and Patahapong Patansak
March 4, 2002
Page 4

                                    Financials: This proposal is contingent upon
                                    Landlord’s review of Tenant’s current financial
                                    statements, which shall be signed and dated and
                                    are hereby requested.

EXPIRATION OF PROPOSAL: March 11, 2002.

LANDLORD AND TENANT ACKNOWLEDGE THAT THIS PROPOSAL IS
NOT A LEASE AND THAT IT IS INTENDED AS THE BASIS FOR
PREPARATION OF A LEASE BY LANDLORD. THE LEASE SHALL BE
SUBJECT TO LANDLORD’S AND TENANT’S APPROVAL, AND ONLY A
FULLY EXECUTED LEASE SHALL CONSTITUTE A LEASE FOR THE
PREMISES. LANDLORD MAKES NO WARRANTY OR REPRESENTATION
TO TENANT THAT ACCEPTANCE OF THIS PROPOSAL WILL GUARANTEE
THE EXECUTION OF A LEASE FOR THE PREMISES. THE FINAL LEASE
DOCUMENT SHALL INCORPORATE THE PROVISIONS CONTAINED IN
THE PROPOSAL AND ANY OTHER PROVISIONS UPON WHICH THE
LANDLORD AND TENANT MAY MUTUALLY AGREE.

Please review this proposal and acknowledge acceptance of its terms and conditions by
signing below. Should you have nay questions, please feel free to contact me at
(949) 752-8811, ext. 15.

Sincerely,

G C PROPERTIES, INC.
Agent for LAV, LLC


Kirk Coult
Vice President

/lm

ACKNOWLEDGED AND AGREED:


___________________________________
Its:

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:0
posted:3/29/2012
language:
pages:4
molly.snider molly.snider
About