ARBOR DEVELOPMENT COMPANY

1001 South Broad Street, New Orleans, LA   70125

 

LEASE AGREEMENT

 

            This agreement (this “Lease”) made this  ______, between Arbor Development Company of Louisiana, LLC (hereinafter, “Arbor”), the owner and sole management agent for the ArtEgg Studios (hereinafter, “Premises”), located at 1001 South Broad Street, New Orleans, LA, 70125;

and  _______________ (hereinafter “Lessee”).

             Arbor has this day rented and leased to the Lessee the following described portion of the Premises: the unit presently designated as Unit ____ (hereinafter, the “Unit”).  Lessee shall also have access to the common areas of the Premises, namely, the parking lots, kitchen, Atrium and restrooms (collectively, along with any other areas designated as common areas by Arbor, the “Common Areas”). Only the above named individual(s) designated as Lessee will occupy the Unit. 

             The term of this Lease begins on _______ and ends on ________.  Any termination of the Lease by Lessee prior to the final date of the Lease term will result in a forfeiture of Lessee’s deposit. Lessee shall also remain responsible for rent for the Unit through the remainder of the term unless Arbor and Lessee agree to an earlier termination. The Lease automatically renews after the regular termination date for additional terms of one- year periods, unless a different time period is mutually agreed upon.  Lessee must give notice sixty (60) days in advance of the end of the then-current term of Lessee’s desire to terminate the Lease.  Arbor reserves the right to charge an increase of 10% of the applicable monthly rental at lease renewal periods every year on renewal date.  V

             Lessee agrees to pay a monthly rental to Arbor at the ArtEgg Building office at 1001 S. Broad St., New Orleans, LA 70125, of $____, payable in advance, and due on or before the 1st day of the month without abatement and regardless of the habitability or condition of the Premises and/or the Unit.  (If the rent is to be mailed, then all MAILED rent, must be sent to Arbor’s PO Box 792182, New Orleans, LA 70179).  Checks should be made payable to Arbor Development Company.  Payments made after the 5th day of the month will be assessed a Fifteen Dollar ($15.00) Per Day Late Fee (Calculated From and Including The 1st of the Month) which must be paid with that month’s rent.  Failure to pay the applicable late fee may result in Lease termination.  Any notices by Lessee of Lease termination or damages should be sent to the above post office box address by registered mail. Checks returned for insufficient funds incur a fee of $25 for the first time and escalate at $25 increments thereafter.

             Additionally, Lessee agrees to pay a deposit in the equivalent of one month’s rent at the time of the execution of this Lease.  Lessee understands that the deposit is non-interest bearing and may not be used as payment for the final month’s rent.  The deposit will be held by Arbor after the Lease expires or terminates to verify payment of all outstanding bills and for any necessary repairs or cleaning. After verification/inspection is complete, any remaining funds will be forwarded to Lessee within 30 days of the end of the lease period, to the address provided to Arbor. Early termination of the lease, for any cause, results in forfeiture of the full deposit. Arbor hereby acknowledges payment and prior receipt of a one- month deposit of $_____, due prior to occupancy of the unit.

             Lessee agrees to use this Unit solely for the purposes stipulated by Lessee in this Lease, which area as an office and boutique manufacturer. Lessee shall not sublet the Unit, conduct any retail store type of sales activity, or invite more than 3 members at a time of the general public onto the Premises, without the prior written authorization of Arbor.

             Lessee agrees that the Unit is in a clean and satisfactory condition for the purpose herein contemplated, and the same is accepted, subject to any damages noted on an attachment to this Lease, without warranty.  Lessee understands and agrees that the leased premises are leased on an “as is basis”; Arbor is not responsible to make any improvement to the Unit except those improvements agreed-upon by Arbor in writing.  The minimum cleaning/changeover fee is $150.00, to be deducted from the deposit. Lessee hereby agrees that if the Unit is not returned in a satisfactory condition, that Arbor may deduct additional fees. If trash or other items are left in the Unit, Arbor will deduct additional reasonable fees for disposal, beginning at $25.00 an hour. In addition, deductions will be made from the deposit for any outstanding utilities and repairs.   Unpaid late fees will also be deducted from the deposit. Deposits will not be refunded until all keys/and swipe cards are returned. During the term of this Lease, Lessee is responsible in all respects for the care and upkeep of the Unit.  Lessee is also responsible for cleaning and repair of the Common Areas to the extent cleaning and/or repair is necessitated by Lessee’s use of such Common Areas.                     

            Lessee agrees to hold Arbor, and Arbor’s agents, harmless for any and all claims by third party claimants that the Lessee has invited or otherwise brought onto the Premises.  Lessee further releases Arbor from any and all damage to person and property suffered upon the Premises, and will hold Arbor harmless from all damages sustained during the terms of this Lease. 

             Lessee agrees not to permit any act that would invalidate fire insurance or increase the insurance rate for the Premises.  Lessee also agrees not to violate any city, parish, state or federal law or regulation.  Such a violation may result in the immediate termination of the Lease by Arbor and forfeiture of Lessee’s deposit.

             Insurance – Lessee is responsible for its own personal insurance protection for person and property.  Lessee must provide a Certificate of Insurance on the Acord form to Arbor when the Lease is signed and Arbor must be a “named insured” in Lessee’s liability policy. The minimum coverage for liability insurance is $1 million.   Proof of insurance is required no later than 30 days from occupancy.   A deposit of $100.00 deposit is required to ensure that proper insurance will be obtained.    

             Cooking – Lessee shall not cook in the Unit.  Any cooking should be done in the specified food areas of the Common Areas. Lessee is responsible for cleaning up after use.

             Trash/Hazardous Materials – Disposal of waste is the responsibility of Lessee.  Arbor provides common trash disposal dumpster for common material.  Lessee is responsible for the disposal of any waste that would be considered a “hazardous material” such as thinners, residues, flammables, or other wastes that require special disposal handling.  To the extent Lessee has hazardous materials to dispose of, Lessee shall be responsible for safely removing such materials from the Premises.  To protect against fire hazard, in the interest of all tenants and Arbor, Lessee specifically is prohibited from disposing any hazardous material in the Arbor trash removal trailers or the dumpster.

             Alterations To the UnitAll physical alterations or installations (such as air conditioning, heating, plumbing, electrical, or related work) done to the leased Unit by Lessee shall be done by a licensed and bonded contractor unless otherwise agreed to by Arbor.  Any improvements shall be done only with the prior written permission of Arbor.  Said improvements become the property of Arbor at lease termination, unless agreed otherwise in writing.

             Signs – Lessee is prohibited from posting or displaying any signs, materials, or decoration on or adjacent to the exterior of their Unit or on the Premises without Arbor’s prior written consent.

             Parking Lot Reservation – Lessee is not to store any property in the common parking area in front of the building, on the loading ramps, or in the fenced in parking lot at the rear of the Premises.  Neither is Lessee allowed or authorized to use any property of Arbor stored in that area without the prior written consent of Arbor.  The parking areas shall be used for the parking of Lessee’s vehicles only at times during which Lessee or Lessee’s authorized invitees are present on the Premises.  The parking areas shall not be used for vehicle or other storage, for vehicle repairs or for social gatherings.

             Personal Goods Storage – Lessee is required to maintain all personal property within their leased Unit.  Goods stored outside of the leased Unit or elsewhere on the Premises will be subject to disposal without notice or right of reimbursement. If goods are disposed of, Lessee will be charged a fee for service, billed at $15.00 per hour.

 Unit Security – Lessee is responsible for the security of its Unit and Lessee and Lessee’s authorized invitees personally.  Arbor will provide a lock for the Unit. Prior approval is required to use an alternative lock system. If Lessee uses another lock system, Unit lock systems must be in conformance to Arbor requirements and lessee must supply Arbor with a key. Failure to provide a proper key will result in removal of the lock at Lessee’s expense.

 Arbor Access to Units – Access to the Unit is reserved to Arbor or its agents to inspect Units for the protection of the Premises, termite control, future rental of the Unit, safety of the Premises, installation of improvements to the Premises, and for other general purposes.

           Events – It is anticipated that special events may be held periodically on the Premises to showcase artistic creations.  Lessee may participate or sponsor such events.  A written agreement between Lessee and Arbor is required prior to the occasion.  An Insurance Certificate protecting Arbor is required; along with payment of an applicable event fee for the use of the Common Areas of the Premises should Lessee wish to sponsor an event.  Third parties may not participate in a Lessee event without the prior written permission of Arbor.  A fee, payable to Arbor, may be required for third party participation.

          Pest control – Arbor does not provide any pest control services other than a termite contract for the protection of the Premises.  Lessee’s personal property is not protected under said termite contract.  Any other pest control measures (roaches, etc.) are at the option and expense of Lessee.

Legal action – Should Arbor have to engage in legal activity to enforce any provision of this Lease, Lessee will be liable for the legal costs borne by Arbor.  Said legal costs may include, but are not limited to, attorneys’ fees (minimum of $500), court costs, service fees, etc.

          Termination – The Lease may be terminated immediately by Arbor upon one or more of the Lessee events: death, incapacity, filing of bankruptcy, insolvency, non-payment of rent, assignment of interests, or other conditions according to the terms of this Lease.

Damages to Property – Arbor is not responsible for any actual or incidental damages to the property of Lessee due to power outages, appliance break downs, rodents, vandals, fire, flood, storm, or other event.

          Casualty – If, after the commencement of the Lease, the Premises and/or the Unit is destroyed or lost, in whole or in part, or its use is otherwise substantially impaired, due to fire or other casualty, rent shall not be abated, reduced, deferred, or otherwise altered. All Lessee’s obligations under this Lease shall continue regardless of the condition of the Premises and/or the Unit or the ability of Lessee to use the Premises and/or the Unit, unless otherwise agreed in a writing signed by Arbor. Lessee hereby waives any and all rights to abatement of rent, diminution of rent, or dissolution of the Lease to which Lessee may otherwise be entitled in the event of a casualty under Louisiana law, including without limitation Louisiana Civil Code Articles 2693, 2714, and 2715, as same may be amended from time to time.

Special Utilities – Arbor is responsible for the common utilities for Premises.  Phone service is not provided.  Those tenants who, because of their art, or personal usage, require special or additional utility services will be assessed an additional monthly utility fee based on the nature of the services required. Tenants must provide their own Unit Energy Star rated A/C-Heating units. Only one (1 ) A/C-Heating unit may be used per unit. If additional units are used by Lessee, Arbor reserves the right to charge an additional fee beginning at $25 per month.  If additional wiring is required, tenant will be required to contract directly with Arbor’s licensed electrician.

         Arbor’s Lien – Lessee hereby accepts that Arbor shall have all of the rights provided for protection of interests under Louisiana Law.  All Legal delays are expressly waived.  In addition, Arbor shall have a possessory lien on all goods located upon the Premises for payment of all rental and other sums due by Lessee through the operation of this Lease.

         Public wireless is available in ArtEgg. It is sometimes unreliable and may only be used for email. There is insufficient bandwidth to download image files or support VIOP systems. Cox Cable and Bell South are in the building and may be contracted with directly.

 

[SIGNATURES ON FOLLOWING PAGE]

For:  Arbor Development Company                         For: Lessee

 

________________________________                    ___________________________________

                                Print Name                                                                                           Print Name

 

________________________________                    ___________________________________

                                Signature                                                                                              Signature

 

 

 

                                                                                   SS/EIN.#  __________________________

                       

                                                                        Address: ___________________________

                                                                       

                                                                        ___________________________________                                                                         

                                                                        Phone: _____________________________

                                                                       

                                                                        Alternate Phone: _____________________

 

                                                                        Fax Phone: _________________________

 

                                                                        Email:_____________________________

                                                                       

                                                                       

                                                                       

                                                                        Emergency Contact: __________________

 

                                                                        Address:____________________________

 

                                                                        Cell /Phone:__________________________

 

                                                                        Email:______________________________

 

 

                                                                        Copy of driver’s license _______________

 

 

The following additional understanding are made at the start of this Lease, specifically:

 

 

                                                                                   

 

 

 

 

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