Exhibit 10.36
C O M M E R C I A L
L E A S E
A G R E E M E N T
(Triple Net)
THIS LEASE, made this
day of
, 2003, by and between
WESTLAND PARK LLC, an Indiana limited liability company, of 3112 East SR 124,
Bluffton, Indiana 46714 (hereinafter "Landlord"), and POORE BROTHERS, INC., a
corporation, with principal offices located at 3500
S. La Cometa Drive, Goodyear, AZ
85338 (hereinafter "Tenant").
The parties hereto, in consideration of the leasing by Landlord to Tenant and
the taking by Tenant from Landlord of the premises hereinafter described and in
further consideration of the obligations of each party to the other hereby
undertaken, covenant and agree as follows:
1.
LEASED PREMISES/USE.
LANDLORD LEASES
TO TENANT, AND TENANT LEASES FROM LANDLORD, 100,000 SQUARE-FEET (SUBJECT TO
REMEASURE UPON COMPLETION FROM INSIDE WALL TO INSIDE WALL) OF WAREHOUSE AND
DISTRIBUTION SPACE ("DEMISED PREMISES") LOCATED AT THE NORTHEAST CORNER OF THE
INTERSECTION OF SR 124 AND WEST LANCASTER STREET, COMMONLY KNOWN AS 1955 WEST
LANCASTER STREET, SUITE 1, BLUFFTON, INDIANA 46714, AND MORE PARTICULARLY
DESCRIBED ON THE ATTACHED EXHIBIT "A" . LANDLORD SHALL CONSTRUCT APPROXIMATELY
3,310 SQ. FT. OF OFFICE SPACE AS PART OF THE DEMISED PREMISES IN ACCORDANCE WITH
EXHIBIT "A" AND SUBJECT TO TENANT'S REASONABLE APPROVAL OF SAME.
ANY ADDITIONAL
OFFICE SPACE REQUIRED BY TENANT SHALL BE CONSTRUCTED BY LANDLORD AT TENANT'S
EXPENSE.
IT IS UNDERSTOOD THAT THE DEMISED PREMISES ARE TO BE A PART OF A
LARGER 200,000 SQUARE FEET BUILDING ("BUILDING"), SUCH BUILDING TO BE ONE OF TWO
OR MORE BUILDINGS TO BE CONSTRUCTED BY LANDLORD. THE TOTAL BUILDINGS CONSTRUCTED
ON THE PREMISES WILL FORM THE "PROJECT". IT IS UNDERSTOOD THAT THE TENANT WILL
SHARE CERTAIN COMMON AREA ELEMENTS WITH FUTURE TENANTS OF THE PROJECT. THESE
ELEMENTS INCLUDE, BUT ARE NOT LIMITED TO, THE PARKING AREA AND DRIVES FOR
INGRESS AND EGRESS.
TENANT SHALL HAVE THE NON-EXCLUSIVE RIGHT TO ALL EXISTING
AND FUTURE EASEMENTS, PARKING AREAS AND FACILITIES, AND ALL APPURTENANCES AND
FIXTURES BELONGING TO OR APPURTENANT TO THE BUILDING OR PROJECT.
TENANT'S USE
OF THE DEMISED PREMISES, THE BUILDING OR THE PROJECT IS LIMITED TO THE OPERATION
OF A WAREHOUSE/DISTRIBUTION CENTER, WITH OFFICE ADMINISTRATIVE USE TO SUPPORT
SUCH AFOREMENTIONED OPERATION.
NO OTHER USE SHALL BE PERMITTED WITHOUT THE
PRIOR WRITTEN CONSENT OF THE LANDLORD, WHICH CONSENT SHALL NOT BE UNREASONABLY
WITHHELD.
THE WITHHOLDING OF CONSENT BY LANDLORD FOR A USE WHICH IS
INCONSISTENT WITH THE INDUSTRIAL CHARACTER OF THE PROJECT SHALL BE DEEMED
REASONABLE.
As Landlord constructs additional warehouses in the warehouse complex and
obtains additional tenants, Tenant's pro-rata share of Common Area Maintenance
(paragraph 5) will be adjusted by an addendum to this Lease to reflect the
percentage of the square footage of the Demised Premises as compared to the
total square feet in the Project.
2.
TERM; RENEWAL.
THE INITIAL TERM OF
THIS LEASE SHALL COMMENCE DECEMBER 1, 2003, THE "LEASE COMMENCEMENT DATE", AND
SHALL CONTINUE FOR A PERIOD OF THREE (3) YEARS,