Document:

EXHIBIT 10.15

 

AMENDED
AND RESTATED LEASE

 

THIS AMENDED AND
RESTATED LEASE (this “Lease”)
is entered into this 27th day of October, 2004 between DFA, LLC (“Lessor”) and AHERN RENTALS, INC. (“Lessee”).

 

RECITALS

 

A.                                   By Indenture of
Lease dated August 8, 2004 (the “Original
Lease”), Lessor leased to Lessee those certain premises, as is,
situated in the City of Las Vegas, County of Clark and State of Nevada, and
described as follows: Property located at 4625 North Rancho Drive, Las Vegas,
NV 89129, as more particularly descried on the attached Exhibit A
(the “Premises”).

 

B.                                     Lessor and Lessee
desire to amend, restate and supersede the Original Lease as of the date of
this Lease.  Lessor and Lessee hereby
agree that the Original Lease is hereby amended, restated and superseded in its
entirety effective as of the date of this Lease and Lessor hereby leases the
Premises to Lessee, and Lessee hereby leases the Premises from Lessor, on the
terms and conditions set forth in this Lease.

 

TERMS
AND CONDITIONS

 

Term.

 

1(a)         The
term of this Lease shall commence on the date of this Lease and continue
through October 27, 2014, unless sooner terminated.

 

Rental.

 

1(b)(1)             Lessee shall pay to Lessor as rent for the
Premises the sum of $17,400 per month during the first year of the lease term.

 

1(b)(2)             Commencing on November 1, 2005 and on
each November 1st (each, an “Annual
Rent Adjustment Date”) during the remainder of the lease term, the
monthly rent payment shall be increased by an amount equal to the greater of (i) three
percent (3%) of the  rent paid for the
prior year, or (ii) the same percentage as the percentage increase in the Consumer Price Index comparing the figure
for the month prior to the month in which the adjustment is to occur with the
figure for the same month in the preceding year, except that if the rent is
adjusted pursuant to Section 1(b)(3) the percentage under this clause
(ii) to be used for calculating the applicable increase in rent to
commence on the next Annual Rent Adjustment Date following a Major Improvement
Rent Adjustment Date (as defined in Section 1(b)(3) below) shall mean
the same percentage as the percentage increase in the Consumer Price Index comparing the figure
for the month prior to the month in which the adjustment is to occur with the
figure for the month prior to the preceding Major Improvement Rent Adjustment
Date.  Comparisons shall be made using
the Index for the U.S. City Average — All
Urban Wage Earners published by the U.S. Department of Labor, Bureau
of Labor Statistics.  If that Index is
discontinued, the parties shall use the nearest comparable index measuring
changes in the cost of living during the period involved.

 

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1(b)(3)             In the event during the term of this
Lease, Lessor constructs any Major Improvement (defined below) on the Premises
for Lessee’s benefit, beginning on the first day of the second calendar month
following the date of completion of the Major Improvement (a “Major Improvement Rent Adjustment Date”)
the monthly rent shall be adjusted to be the fair market rental value of the
Premises as of the completion of the Major Improvement, provided in no event
shall the monthly rent be less than the monthly rent in effect immediately
prior to the construction of the Major Improvement.  Upon completion of the Major Improvement, the
parties shall discuss and attempt to determine by mutual agreement the monthly
rent to be paid beginning on the Major Improvement Rent Adjustment Date.  If the parties are unable to reach agreement
before the 30th day following the completion of the Major
Improvement, the matter shall be determined by appraisal.

 

If an appraiser is required under this Section 1(b)(3),
the monthly rent shall be determined by a qualified, independent real property
appraiser familiar with commercial rental values in the area.  The appraiser shall be selected by Lessee
from a list of not fewer than three such individuals submitted by Lessor.  If Lessee does not make the selection within
ten days after submission of the list, Lessor may do so.  If Lessor does not submit such a list within
ten (10) days after written request from Lessee to do so, Lessee may name
as an appraiser any individual with such qualifications.  Within thirty (30) days after appointment,
the appraiser shall furnish to both parties an appraisal of the fair market
rental value of the Premises, which shall be final and binding on the
parties.  The cost of the appraisal shall
be borne equally by the parties.

 

For purpose of this Lease “Major Improvement” shall mean a structure
erected at the request of the Lessee as a permanent improvement on the Premises
that is intended to enhance the value of the Premises or an addition made at
the request of the Lessee that increases the size of a building on the Premises
or the size of the Premises.

 

1(b)(4)             Rent will be paid in advance on the first
day of each month to Lessor at the address for Lessor set forth in this Lease,
or at such other address as Lessor may designate in writing to Lessee.  Rent is uniformly apportionable day to day.

 

Use of Premises.

 

(2a)                            The Lessee shall use the
Premises during the term of this lease for the conduct of the following
business: operations of an equipment rental company and for no other purpose
whatsoever without Lessor’s written consent.

 

(2b)                           The Lessee will not make any
unlawful, improper or offensive use of the Premises; the Lessee will not suffer
any strip or waste thereof; the Lessee will not permit any objectionable noise
or odor to escape or to be emitted from the Premises or do anything or permit
anything to be done upon or about the Premises in any way tending to create a
nuisance; the Lessee will not sell or permit to be sold any product, substance
or service upon or about the Premises, excepting in the ordinary course of
Lessee’s business or such as Lessee may be licensed by law to sell and as may
be herein expressly permitted.

 

(2c)                            The Lessee will not cause
the Premises at any time to fall into such a state of repair or disorder as to
increase the fire hazard thereon; the Lessee will not install any power 

 

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machinery on the Premises except in the ordinary course of Lessee’s
business or under the supervision and with written consent of the Lessor; the
Lessee will not store gasoline or other highly combustible materials on the
Premises at any time except in the ordinary course of Lessee’s business; the
Lessee will not use the Premises in such a way or for such a purpose that the
fire insurance on the improvements on the Premises is thereby cancelled.

 

(2d)                           The Lessee shall comply at
Lessee’s own expense with all laws and regulations of any municipal, county,
state, federal or other public authority respecting the use of the Premises.
These include, without limitation, all laws, regulations and ordinances
pertaining to air and water quality, Hazardous Materials as herein defined,
waste disposal, air emissions, and other environmental matters.  As used herein, Hazardous Material means any
hazardous or toxic substance, material, or waste, including but not limited to
those substances, materials, and waste listed in the U.S. Department of
Transportation Hazardous Materials Table or by the U.S. Environmental
Protection Agency as hazardous substances and amendments thereto, petroleum
products, or such other substances, materials, and waste that are or become
regulated under any applicable local, state, or federal law.  Neither Lessee nor Lessor is required to make
any alterations to comply with the Americans with Disabilities Act.

 

(2e)                            The Lessee shall regularly
occupy and use the Premises for the conduct of Lessee’s business, and shall not
abandon or vacate the Premises for more than ten days without written approval
of Lessor.

 

(2f)                              Except in the ordinary
course of Lessee’s business, Lessee shall not cause or permit any Hazardous
Material to be brought upon, kept or used in or about the Premises by Lessee,
its agents, employees, contractors, or invitees without the prior written
consent of Lessor, which consent will not be unreasonably withheld so long as
Lessee demonstrates to Lessor’s reasonable satisfaction that such Hazardous
Material is necessary or useful to Lessee’s business and will be used, kept,
and stored in a manner that will comply at all times with all laws regulating any
such Hazardous Material so brought upon or used or kept on or about the
Premises.

 

Utilities.

 

(3)                                  The Lessee shall pay
for all heat, light, water, power, and other services or utilities used in the
Premises during the term of this lease.

 

Repairs and Improvements.

 

(4a)                            The Lessor shall not be
required to make any repairs, alterations, additions or improvements to or upon
the Premises during the term of this lease, except only those hereinafter
specifically provided for; the Lessee hereby agrees to maintain and keep the
Premises, including all interior and exterior walls and doors, ordinary
maintenance of heating, ventilating and cooling systems, interior wiring,
plumbing and drain pipes to sewers or septic tank, in good order and repair
during the entire term of this lease, at Lessee’s own cost and expense, and to
replace all glass which may be broken or damaged during the term hereof in the
windows and doors of the Premises with glass of as good or better quality as
that now in use; it is further agreed that the 

 

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Lessee may make alterations, additions or improvements to or upon the
Premises without first obtaining the consent of the Lessor.

 

(4b)                           The Lessor agrees to make
all necessary structural repairs to the building, including exterior walls,
foundation, roof, gutters and downspouts, and the abutting sidewalks.  Lessor shall also make all capital repairs
and replacements to the Premises unless such is necessitated solely by Lessee’s
failure to maintain in accordance with subsection 4(a).  The Lessor reserves and at any and all times
shall have the right to alter, repair or improve the building of which the
Premises are a part, or to add thereto, and for that purpose at any time may
erect scaffolding and all other necessary structures about and upon the
Premises and Lessor and Lessor’s representatives, contractors and workers for
that purpose may enter in or about the Premises with such materials as Lessor
may deem necessary therefor, and Lessee waives any claim to damages, including
loss of business resulting therefrom, provided Lessor gives Lessee not less
than 48 hours’ advance notice and such activities are conducted without
material interference with Lessee’s use of the Premises.

 

Lessor’s Right of Entry.

 

(5)                                  It shall be lawful
for the Lessor, the Lessor’s agents and representatives, at any reasonable time
upon 48 hours’ advance notice to enter into or upon the Premises for the
purpose of examining into the condition thereof, or for any other lawful
purpose.

 

Right of Assignment.

 

(6)                                  The Lessee will not
assign, transfer, pledge, hypothecate, surrender or dispose of this lease, or
any interest herein, sublet, or permit any other person or persons whomsoever
to occupy the Premises without the written consent of the Lessor being first
obtained in writing; this lease is personal to Lessee; Lessee’s interests, in
whole or in part, cannot be sold, assigned, transferred, seized or taken by
operation at law, or under or by virtue of any execution or legal process,
attachment or proceedings instituted against the Lessee, or under or by virtue
of any bankruptcy or insolvency proceedings had in regard to the Lessee, or in
any other manner, except as above mentioned. 
Notwithstanding any provision in this Lease, Lessee may, without Lessor
consent, execute and deliver one or more leasehold mortgages (or leasehold
trust deeds) to any lender to Lessee with respect hereto.

 

Liens.

 

(7)                                  The Lessee will not
permit any lien of any kind, type or description to be placed or imposed upon
the Lessee’s interest in improvements in which the Premises are situated, or
any part thereof, or Lessee’s interest in the land on which they stand, other
than a leasehold deed of trust or leasehold mortgage granted by Lessee in favor
of Bank of America, as Administrative Agent and Wachovia Bank, National
Association, as Collateral Agent and Syndication Agent and the successors and
assigns thereof (collectively “Senior Lien”)
and a leasehold deed of trust or leasehold mortgage granted by Lessee in favor
of Tennenbaum Capital Partners, LLC and the successors and assigns thereof (“Junior Lien”).

 

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Ice, Snow, Debris

 

(8)                                  If the Premises are
located at street level, then at all times Lessee shall keep the sidewalks in
front of the Premises free and clear of ice, snow, rubbish, debris and
obstruction; and if the Lessee occupies the entire building, the Lessee will
not permit rubbish, debris, ice or snow to accumulate on the roof of the
building so as to stop up or obstruct gutters or downspouts or cause damage to
the roof, and will save harmless and protect the Lessor against any injury
whether to Lessor or to Lessor’s property or to any other person or property
caused by Lessee’s failure in that regard.

 

Overloading of Floors.

 

(9)                                  The Lessee will not
overload the floors of the Premises in such a way as to cause any undue or
serious stress or strain upon the building in which the Premises are located,
or any part thereof, and the Lessor shall have the right, at any time, to call
upon any competent engineer or architect whom the Lessor may choose, to decide
whether or not the floors of the Premises, or any part thereof, are being
overloaded so as to cause any undue or serious stress or strain on the building,
or any part thereof, and the decision of the engineer or architect shall be
final and binding upon the Lessee; and in the event that it is the opinion of
the engineer or architect that the stress or strain is such as to endanger or
injure the building, or any part thereof, then and in that event the Lessee
agrees immediately to relieve the stress or strain, either by reinforcing the
building or by lightening the load which causes such stress or strain, in a
manner satisfactory to the Lessor.

 

(10)                            Intentionally Blank.

 

Liability Insurance.

 

(11)                            At all times during the
term hereof, the Lessee will, at the Lessee’s own expense, keep in effect and
deliver to the Lessor liability insurance policies in form, and with an
insurer, satisfactory to the Lessor. 
Such policies shall insure both the Lessor and the Lessee against all
liability for damage to persons or property in, upon, or about the
Premises.  It shall be the responsibility
of the Lessee to purchase casualty insurance with extended coverage so as to
insure any structure on the Premises against damage caused by fire or the
effects of fire (smoke, heat, means of extinguishment, etc.), or any other
means of loss and to insure all of the Lessee’s belongings upon the Premises,
of whatsoever nature, against the same. 
With respect to these policies, Lessee shall cause the Lessor to be
named as an additional insured party. 
Lessee agrees to and shall indemnify and hold Lessor harmless against
any and all claims and demands arising from the negligence of the Lessee,
Lessee’s officers, agents, invitees and/or employees, as well as those arising
from Lessee’s failure to comply with any covenant of this lease on Lessee’s
part to be performed, and shall at Lessee’s own expense defend the Lessor
against any and all suits or actions arising out of such negligence, actual or
alleged, and all appeals therefrom and shall satisfy and discharge any judgment
which may be awarded against Lessor in any such suit or action.

 

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Fixtures.

 

(12)                            All partitions, plumbing,
electrical wiring, additions to or improvements upon the Premises, whether
installed by the Lessor or Lessee, shall be and become a part of the building
in which the Premises are located as soon as installed and the property of the
Lessor unless otherwise herein provided. 
Notwithstanding any other provisions of this Lease, Lessee’s furniture,
trade fixtures, equipment and personal property shall at all times remain the
property of Lessee.

 

Light and Air.

 

(13)                            This lease does not grant
any rights of access to light and air over the Premises or any adjacent
property.

 

Damage by Casualty, Fire and Duty to Repair.

 

(14)                            In the event of the
destruction of the improvements in which the Premises are located by fire or other
casualty, either party hereto may terminate this lease as of the date of fire
or casualty, provided, however, that in the event of damage to the improvements
by fire or other casualty to the extent of twenty-five (25) per cent or more of
the sound value thereof, Lessor or Lessee may elect to terminate the lease as
of the date of such damage by written notice thereof to the other party.  Absent such termination by either party or if
the improvements in which the Premises are located be but partially destroyed
and the damage so occasioned shall not amount to the extent indicated above,
then the Lessor shall repair the same with all convenient speed and shall have
the right to take possession of and occupy, to the exclusion of the Lessee, all
or any part thereof in order to make the necessary repairs, and the Lessee
hereby agrees to vacate upon request, all or any part thereof which the Lessor
may require for the purpose of making necessary repairs, and for the period of
time between the day of such damage and until such repairs have been
substantially completed there shall be such an abatement of rent as the nature
of the injury or damage and its interference with the occupancy of the Premises
by the Lessee shall warrant; however, if the Premises be but slightly injured
and the damage so occasioned shall not cause any material interference with the
occupation of the Premises by Lessee, then there shall be no abatement of rent
and the Lessor shall repair the damage with all convenient speed.

 

Waiver of Subrogation Rights.

 

(15)                            Neither the Lessor nor the
Lessee shall be liable to the other for loss arising out of damage to or
destruction of the Premises, or the building or improvement of which the
Premises are a part or with which they are connected, or the contents of any
thereof, when such loss is caused by any of the perils which are or could be
included within or insured against by a standard form of fire insurance with
extended coverage, including sprinkler leakage insurance, if any. All such
claims for any and all loss, however caused, hereby are waived. Such absence of
liability shall exist whether or not the damage or destruction is caused by the
negligence of either Lessor or Lessee or by any of their respective agents,
servants or employees. It is the intention and agreement of the Lessor and the
Lessee that the rentals reserved by this lease have been fixed in contemplation
that both parties shall fully provide their own insurance protection at their
own expense, and that both parties shall look to their respective insurance
carriers for 

 

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reimbursement of any such loss, and further, that the insurance
carriers involved shall not be entitled to subrogation under any circumstances
against any party to this lease. Neither the Lessor nor the Lessee shall have
any interest or claim in the other’s insurance policy or policies, or the
proceeds thereof, unless specifically covered therein as a joint insured.

 

Eminent Domain.

 

(16)                            In case of the condemnation
or purchase of all or any substantial part of the Premises by any public or
private corporation with the power of condemnation this lease may be
terminated, effective on the date possession is taken or title is transferred,
by either party hereto on written notice to the other and in that case the
Lessee shall not be liable for any rent after the termination date.

 

(17)                            Intentionally blank.

 

Delivering Up Premises on Termination.

 

(18)                            At the expiration of the
lease term or upon any sooner termination thereof, the Lessee will quit and
deliver up the Premises and all future erections or additions to or upon the
same, broom-clean, to the Lessor or those having Lessor’s estate in the
Premises, peaceably, quietly, and in as good order and condition as when received,
reasonable use and wear thereof, damage by fire, unavoidable casualty and the
elements alone and other events not required hereunder to be repaired by Lessee
excepted, as the same are now in or hereafter may be put in by the Lessor.

 

Additional Covenants or Exceptions.

 

(19)                            Intentionally blank.

 

(20)                            Lessee shall reimburse
Lessor upon demand for all premiums for casualty insurance with extended
coverage purchased by Lessee to insure any structure on the Premises.

 

(21)                            Lessee shall pay when due
all taxes, assessments and public charges on the Premises.

 

Attachment Bankrupt Default.

 

PROVIDED, ALWAYS,
and these presents are upon these conditions, that (1) if the Lessee shall
be in arrears in the payment of rent for a period of ten days after the same
becomes due, or (2) if the Lessee shall fail or neglect to perform or
observe any of the covenants and agreements contained herein on Lessee’s part
to be done, kept, performed and observed and such default shall continue for
twenty days or more after written notice of such failure or neglect shall be
given to Lessee, except that if the failure is of such a nature that it cannot
be remedied fully within the 20-day period, this requirement shall be satisfied
if Lessee begins correction of the failure within the 20-day period and
thereafter proceeds with reasonable diligence and in good faith to effect the
remedy as soon as practicable, or (3) if the Lessee shall be declared
bankrupt or insolvent according to law, or (4) if any assignment of all or
substantially all of Lessee’s property shall be made for the benefit of
creditors, or (5) if on the expiration of this lease Lessee 

 

7

 

fails to surrender possession of the Premises, the Lessor or those
having Lessor’s estate in the Premises, may terminate this lease and, lawfully,
at Lessor’s option immediately or at any time thereafter, without demand or
notice, enter into and upon the Premises and every part thereof and repossess
the same, and expel Lessee and those claiming by, through and under Lessee and
remove Lessee’s effects at Lessee’s expense, forcibly if necessary and store
the same, all without being deemed guilty of trespass and without prejudice to
any remedy which otherwise might be used for arrears of rent or preceding
breach of covenant.

 

Neither the termination of this lease by
forfeiture nor the taking or recovery of possession of the Premises shall
deprive Lessor of any other action, right, or remedy against Lessee for
possession, rent or damages, nor shall any omission by Lessor to enforce any
forfeiture, right or remedy to which Lessor may be entitled be deemed a waiver
by Lessor of the right to enforce the performance of all terms and conditions
of this lease by Lessee.

 

In the event of any re-entry by Lessor,
Lessor may lease or relet the Premises in whole or in part to any tenant or
tenants who may be satisfactory to Lessor, for any duration, and for the best
rent, terms and conditions as Lessor may reasonably obtain. Lessor shall apply
the rent received from any such tenant first to the cost of retaking and
reletting the Premises, including remodeling required to obtain any such
tenant, and then to any arrears of rent and future rent payable under this
lease and any other damages to which Lessor may be entitled hereunder.

 

Any property which Lessee leaves on the
Premises more than ten (10) days after abandonment or expiration of the
lease, or for more than ten days after any termination of the lease by Lessor,
shall be deemed to have been abandoned, and Lessor may remove and sell the
property at public or private sale as Lessor sees fit, without being liable for
any prosecution therefor or for damages by reason thereof, and the net proceeds
of any such sale shall be applied toward the expenses of Lessor and rent as
aforesaid, and the balance of such amounts, if any, shall be held for and paid
to the Lessee.

 

Holding Over.

 

In the event the Lessee for any reason shall
hold over after the expiration of this lease, such holding over shall not be
deemed to operate as a renewal or extension of this lease, but shall only
create a tenancy at sufferance which may be terminated at will at any time by
the Lessor.

 

Attorney Fees and Court Costs.

 

In case suit or action is instituted to
enforce compliance with any of the terms, covenants or conditions of this
lease, or to collect the rental which may become due hereunder, or any portion
thereof, the losing party agrees to pay the prevailing party’s reasonable
attorney fees incurred throughout such proceeding, including at trial, on
appeal, and for post-judgment collection. The Lessee agrees to pay and
discharge all Lessor’s costs and expenses, including Lessor’s reasonable
attorney’s fees that shall arise from enforcing any provision or covenants of
this lease even though no suit or action is instituted.

 

Should the Lessee be or become the debtor in
any bankruptcy proceeding, voluntarily, involuntarily or otherwise, either
during the period this lease is in effect or while there exists any outstanding
obligation of the Lessee created by this lease in favor of the Lessor, the
Lessee 

 

8

 

agrees to pay the Lessor’s reasonable attorney fees and costs which the
Lessor may incur as the result of Lessor’s participation in such bankruptcy
proceedings. It is understood and agreed by both parties that applicable
federal bankruptcy law or rules of procedure may affect, alter, reduce or
nullify the attorney fee and cost awards mentioned in the preceding sentence.

 

Waiver.

 

Any waiver by the Lessor of any breach of any
covenant herein contained to be kept and performed by the Lessee shall not be
deemed or considered as a continuing waiver, and shall not operate to bar or
prevent the Lessor from declaring a forfeiture for any succeeding breach,
either of the same condition or covenant or otherwise.

 

Recitals.

 

The recitals of this Lease are hereby
incorporated in to this Lease and made a part hereof.

 

Notices.

 

Any notice required by the terms of this
lease to be given by one party hereto to the other or desired so to be given,
shall be sufficient if in writing, contained in a sealed envelope, and sent
first class mail, with postage fully prepaid, and if intended for the Lessor
herein, then if addressed to the Lessor at DFA, LLC c/o Ahern Rentals, Inc.,
4241 S. Arville Street, Las Vegas, Nevada 
89103 and if intended for the Lessee, then if addressed to the Lessee at
Ahern Rentals, Inc., 4241 S. Arville Street, Las Vegas, Nevada  89103. 
Any such notice shall be deemed conclusively to have been delivered to
the addressee forty-eight hours after the deposit thereof in the U.S. Mail.

 

Heirs and Assigns.

 

All rights, remedies and liabilities herein
given to or imposed upon either of the parties hereto shall extend to, inure to
the benefit of and bind, as the circumstances may require, the heirs,
successors, personal representatives and so far as this lease is assignable by
the terms hereof, to the assigns of such parties.

 

In construing this lease, it is understood
that the Lessor or the Lessee may be more than one person; that if the context
so requires, the singular pronoun shall be taken to mean and include the
plural, and that generally all grammatical changes shall be made, assumed and
implied to make the provisions hereof apply equally to corporations and to
individuals.

 

9

 

IN WITNESS WHEREOF,
the parties have executed this Lease on the day and year first hereinabove
written, any corporate signature of Lessee being by due authority of its Board of
Directors and any signature of Lessor being by due authority of its managing
member.

 

	
  Lessor:

  	
   

  	
  Lessee:

  
	
  DFA, LLC

  	
   

  	
  AHERN RENTALS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   /s/ DON F. AHERN

  	
   

  	
  By:

  	
  /s/ DON F. AHERN

  
	
  Don F.
  Ahern, Manager

  	
   

  	
  Don F.
  Ahern, President

  
					

 

10

 

EXHIBIT A

 

LEGAL
DESCRIPTION

 

Parcel I:

 

That portion
of the Northwest Quarter (NW1/4) of Section 2,
Township 20 South, Range 60 East, Mount Diablo Base and Meridian, described as
follows:

 

COMMENCING at
the Northwest Corner of said Section 2; thence South 83°40’36” East along
the North line of said Section 2, a distance of 567.50 feet to a point on
the Southwesterly line of U.S. Highway No. 95, thence South 36°26’00” East
along the last mentioned Southwesterly line, a distance of 1,368.10 feet to the
TRUE POINT OF BEGINNING thence continuing South 36°26’00” East, a
distance of 100.00 feet to a point; thence South 53°34’00” West, a distance of
300.00 feet to a point; thence North 36°26’00” West, a distance of 100.00 feet
to a point; thence North 53°34’00” East, a distance of 300.00 feet to the TRUE
POINT OF BEGINNING.EXHIBIT 10.16

 

AMENDED
AND RESTATED LEASE

 

THIS AMENDED AND
RESTATED LEASE (this “Lease”)
is entered into this 27th day of October, 2004 between DFA, LLC (“Lessor”) and AHERN RENTALS, INC. (“Lessee”).

 

RECITALS

 

A.                                   By Lease dated July 23,
2004 (the “Original Lease”),
Lessor leased to Lessee those certain premises, as is, situated in the City of
Modesto, County of Stanislaus and State of California, and described as
follows: Property located at 1201-A, 1217 and 1217A South 7th
Street, Modesto, CA 95351, as more particularly described on the attached Exhibit A (the “Premises”).

 

B.                                     Lessor and Lessee
desire to amend, restate and supersede the Original Lease as of the date of
this Lease.  Lessor and Lessee hereby
agree that the Original Lease is hereby amended, restated and superseded in its
entirety effective as of the date of this Lease and Lessor hereby leases the
Premises to Lessee, and Lessee hereby leases the Premises from Lessor, on the
terms and conditions set forth in this Lease.

 

TERMS
AND CONDITIONS

 

Term.

 

1(a)         The
term of this Lease shall commence on the date of this Lease and continue
through October 27, 2014, unless sooner terminated.

 

Rental.

 

1(b)(1)             Lessee shall pay to Lessor as rent for the
Premises the sum of $9,583 per month during the first year of the lease term.

 

1(b)(2)             Commencing on November 1, 2005 and on
each November 1st (each, an “Annual
Rent Adjustment Date”) during the remainder of the lease term, the
monthly rent payment shall be increased by an amount equal to the greater of (i) three
percent (3%) of the  rent paid for the
prior year, or (ii) the same percentage as the percentage increase in the Consumer Price Index comparing the figure
for the month prior to the month in which the adjustment is to occur with the
figure for the same month in the preceding year, except that if the rent is
adjusted pursuant to Section 1(b)(3) the percentage under this clause
(ii) to be used for calculating the applicable increase in rent to
commence on the next Annual Rent Adjustment Date following a Major
Improvement Rent Adjustment Date (as defined in Section 1(b)(3) below)
shall mean the same percentage as the percentage increase in the Consumer Price Index comparing the figure
for the month prior to the month in which the adjustment is to occur with the
figure for the month prior to the preceding Major Improvement Rent Adjustment
Date.  Comparisons shall be made using
the Index for the U.S. City Average — All
Urban Wage Earners published by the U.S. Department of Labor, Bureau
of Labor Statistics.  If that Index is
discontinued, the parties shall use the nearest comparable index measuring
changes in the cost of living during the period involved.

 

1

 

1(b)(3)             In the event during the term of this
Lease, Lessor constructs any Major Improvement (defined below) on the Premises
for Lessee’s benefit, beginning on the first day of the second calendar month
following the date of completion of the Major Improvement (a “Major Improvement Rent Adjustment Date”)
the monthly rent shall be adjusted to be the fair market rental value of the
Premises as of the completion of the Major Improvement, provided in no event
shall the monthly rent be less than the monthly rent in effect immediately
prior to the construction of the Major Improvement.  Upon completion of the Major Improvement, the
parties shall discuss and attempt to determine by mutual agreement the monthly
rent to be paid beginning on the Major Improvement Rent Adjustment Date.  If the parties are unable to reach agreement
before the 30th day following the completion of the Major
Improvement, the matter shall be determined by appraisal.

 

If an appraiser is required under this Section 1(b)(3),
the monthly rent shall be determined by a qualified, independent real property
appraiser familiar with commercial rental values in the area.  The appraiser shall be selected by Lessee
from a list of not fewer than three such individuals submitted by Lessor.  If Lessee does not make the selection within
ten days after submission of the list, Lessor may do so.  If Lessor does not submit such a list within
ten (10) days after written request from Lessee to do so, Lessee may name
as an appraiser any individual with such qualifications.  Within thirty (30) days after appointment,
the appraiser shall furnish to both parties an appraisal of the fair market
rental value of the Premises, which shall be final and binding on the
parties.  The cost of the appraisal shall
be borne equally by the parties.

 

For purpose of this Lease “Major Improvement” shall mean a structure
erected at the request of the Lessee as a permanent improvement on the Premises
that is intended to enhance the value of the Premises or an addition made at
the request of the Lessee that increases the size of a building on the Premises
or the size of the Premises.

 

1(b)(4)             Rent will be paid in advance on the first
day of each month to Lessor at the address for Lessor set forth in this Lease,
or at such other address as Lessor may designate in writing to Lessee.  Rent is uniformly apportionable day to day.

 

Use of Premises.

 

(2a)                            The Lessee shall use the
Premises during the term of this lease for the conduct of the following
business: operations of an equipment rental company and for no other purpose
whatsoever without Lessor’s written consent.

 

(2b)                           The Lessee will not make any
unlawful, improper or offensive use of the Premises; the Lessee will not suffer
any strip or waste thereof; the Lessee will not permit any objectionable noise
or odor to escape or to be emitted from the Premises or do anything or permit
anything to be done upon or about the Premises in any way tending to create a
nuisance; the Lessee will not sell or permit to be sold any product, substance
or service upon or about the Premises, excepting in the ordinary course of
Lessee’s business or such as Lessee may be licensed by law to sell and as may
be herein expressly permitted.

 

(2c)                            The Lessee will not cause
the Premises at any time to fall into such a state of repair or disorder as to
increase the fire hazard thereon; the Lessee will not install any power 

 

2

 

machinery on the Premises except in the ordinary course of Lessee’s
business or under the supervision and with written consent of the Lessor; the
Lessee will not store gasoline or other highly combustible materials on the
Premises at any time except in the ordinary course of Lessee’s business; the
Lessee will not use the Premises in such a way or for such a purpose that the
fire insurance on the improvements on the Premises is thereby cancelled.

 

(2d)                           The Lessee shall comply at
Lessee’s own expense with all laws and regulations of any municipal, county,
state, federal or other public authority respecting the use of the Premises.
These include, without limitation, all laws, regulations and ordinances
pertaining to air and water quality, Hazardous Materials as herein defined,
waste disposal, air emissions, and other environmental matters.  As used herein, Hazardous Material means any
hazardous or toxic substance, material, or waste, including but not limited to
those substances, materials, and waste listed in the U.S. Department of
Transportation Hazardous Materials Table or by the U.S. Environmental
Protection Agency as hazardous substances and amendments thereto, petroleum
products, or such other substances, materials, and waste that are or become
regulated under any applicable local, state, or federal law.  Neither Lessee nor Lessor is required to make
any alterations to comply with the Americans with Disabilities Act.

 

(2e)                            The Lessee shall regularly
occupy and use the Premises for the conduct of Lessee’s business, and shall not
abandon or vacate the Premises for more than ten days without written approval
of Lessor.

 

(2f)                              Except in the ordinary
course of Lessee’s business, Lessee shall not cause or permit any Hazardous
Material to be brought upon, kept or used in or about the Premises by Lessee,
its agents, employees, contractors, or invitees without the prior written
consent of Lessor, which consent will not be unreasonably withheld so long as
Lessee demonstrates to Lessor’s reasonable satisfaction that such Hazardous
Material is necessary or useful to Lessee’s business and will be used, kept,
and stored in a manner that will comply at all times with all laws regulating
any such Hazardous Material so brought upon or used or kept on or about the
Premises.

 

Utilities.

 

(3)                                  The Lessee shall pay
for all heat, light, water, power, and other services or utilities used in the
Premises during the term of this lease.

 

Repairs and Improvements.

 

(4a)                            The Lessor shall not be
required to make any repairs, alterations, additions or improvements to or upon
the Premises during the term of this lease, except only those hereinafter
specifically provided for; the Lessee hereby agrees to maintain and keep the
Premises, including all interior and exterior walls and doors, ordinary
maintenance of heating, ventilating and cooling systems, interior wiring,
plumbing and drain pipes to sewers or septic tank, in good order and repair
during the entire term of this lease, at Lessee’s own cost and expense, and to
replace all glass which may be broken or damaged during the term hereof in the
windows and doors of the Premises with glass of as good or better quality as
that now in use; it is further agreed that the 

 

3

 

Lessee may make alterations, additions or improvements to or upon the
Premises without first obtaining the consent of the Lessor.

 

(4b)                           The Lessor agrees to make
all necessary structural repairs to the building, including exterior walls,
foundation, roof, gutters and downspouts, and the abutting sidewalks.  Lessor shall also make all capital repairs
and replacements to the Premises unless such is necessitated solely by Lessee’s
failure to maintain in accordance with subsection 4(a).  The Lessor reserves and at any and all times
shall have the right to alter, repair or improve the building of which the
Premises are a part, or to add thereto, and for that purpose at any time may
erect scaffolding and all other necessary structures about and upon the
Premises and Lessor and Lessor’s representatives, contractors and workers for
that purpose may enter in or about the Premises with such materials as Lessor
may deem necessary therefor, and Lessee waives any claim to damages, including
loss of business resulting therefrom, provided Lessor gives Lessee not less
than 48 hours’ advance notice and such activities are conducted without
material interference with Lessee’s use of the Premises.

 

Lessor’s Right of Entry.

 

(5)                                  It shall be lawful
for the Lessor, the Lessor’s agents and representatives, at any reasonable time
upon 48 hours’ advance notice to enter into or upon the Premises for the
purpose of examining into the condition thereof, or for any other lawful
purpose.

 

Right of Assignment.

 

(6)                                  The Lessee will not
assign, transfer, pledge, hypothecate, surrender or dispose of this lease, or
any interest herein, sublet, or permit any other person or persons whomsoever
to occupy the Premises without the written consent of the Lessor being first
obtained in writing; this lease is personal to Lessee; Lessee’s interests, in
whole or in part, cannot be sold, assigned, transferred, seized or taken by
operation at law, or under or by virtue of any execution or legal process,
attachment or proceedings instituted against the Lessee, or under or by virtue
of any bankruptcy or insolvency proceedings had in regard to the Lessee, or in
any other manner, except as above mentioned. 
Notwithstanding any provision in this Lease, Lessee may, without Lessor
consent, execute and deliver one or more leasehold mortgages (or leasehold
trust deeds) to any lender to Lessee with respect hereto.

 

Liens.

 

(7)                                  The Lessee will not
permit any lien of any kind, type or description to be placed or imposed upon
the Lessee’s interest in improvements in which the Premises are situated, or
any part thereof, or Lessee’s interest in the land on which they stand, other
than a leasehold deed of trust or leasehold mortgage granted by Lessee in favor
of Bank of America, as Administrative Agent and Wachovia Bank, National
Association, as Collateral Agent and Syndication Agent and the successors and
assigns thereof (collectively “Senior Lien”)
and a leasehold deed of trust or leasehold mortgage granted by Lessee in favor
of Tennenbaum Capital Partners, LLC and the successors and assigns thereof (“Junior Lien”).

 

4

 

Ice, Snow, Debris

 

(8)                                  If the Premises are
located at street level, then at all times Lessee shall keep the sidewalks in
front of the Premises free and clear of ice, snow, rubbish, debris and
obstruction; and if the Lessee occupies the entire building, the Lessee will
not permit rubbish, debris, ice or snow to accumulate on the roof of the building
so as to stop up or obstruct gutters or downspouts or cause damage to the roof,
and will save harmless and protect the Lessor against any injury whether to
Lessor or to Lessor’s property or to any other person or property caused by
Lessee’s failure in that regard.

 

Overloading of Floors.

 

(9)                                  The Lessee will not
overload the floors of the Premises in such a way as to cause any undue or
serious stress or strain upon the building in which the Premises are located,
or any part thereof, and the Lessor shall have the right, at any time, to call
upon any competent engineer or architect whom the Lessor may choose, to decide
whether or not the floors of the Premises, or any part thereof, are being
overloaded so as to cause any undue or serious stress or strain on the
building, or any part thereof, and the decision of the engineer or architect
shall be final and binding upon the Lessee; and in the event that it is the
opinion of the engineer or architect that the stress or strain is such as to
endanger or injure the building, or any part thereof, then and in that event
the Lessee agrees immediately to relieve the stress or strain, either by
reinforcing the building or by lightening the load which causes such stress or
strain, in a manner satisfactory to the Lessor.

 

(10)                            Intentionally Blank.

 

Liability Insurance.

 

(11)                            At all times during the
term hereof, the Lessee will, at the Lessee’s own expense, keep in effect and
deliver to the Lessor liability insurance policies in form, and with an
insurer, satisfactory to the Lessor. 
Such policies shall insure both the Lessor and the Lessee against all
liability for damage to persons or property in, upon, or about the
Premises.  It shall be the responsibility
of the Lessee to purchase casualty insurance with extended coverage so as to
insure any structure on the Premises against damage caused by fire or the
effects of fire (smoke, heat, means of extinguishment, etc.), or any other
means of loss and to insure all of the Lessee’s belongings upon the Premises,
of whatsoever nature, against the same. 
With respect to these policies, Lessee shall cause the Lessor to be
named as an additional insured party. 
Lessee agrees to and shall indemnify and hold Lessor harmless against
any and all claims and demands arising from the negligence of the Lessee,
Lessee’s officers, agents, invitees and/or employees, as well as those arising
from Lessee’s failure to comply with any covenant of this lease on Lessee’s
part to be performed, and shall at Lessee’s own expense defend the Lessor
against any and all suits or actions arising out of such negligence, actual or
alleged, and all appeals therefrom and shall satisfy and discharge any judgment
which may be awarded against Lessor in any such suit or action.

 

5

 

Fixtures.

 

(12)                            All partitions, plumbing,
electrical wiring, additions to or improvements upon the Premises, whether
installed by the Lessor or Lessee, shall be and become a part of the building
in which the Premises are located as soon as installed and the property of the
Lessor unless otherwise herein provided. 
Notwithstanding any other provisions of this Lease, Lessee’s furniture,
trade fixtures, equipment and personal property shall at all times remain the
property of Lessee.

 

Light and Air.

 

(13)                            This lease does not grant
any rights of access to light and air over the Premises or any adjacent
property.

 

Damage by Casualty, Fire and Duty to Repair.

 

(14)                            In the event of the
destruction of the improvements in which the Premises are located by fire or
other casualty, either party hereto may terminate this lease as of the date of
fire or casualty, provided, however, that in the event of damage to the
improvements by fire or other casualty to the extent of twenty-five (25) per
cent or more of the sound value thereof, Lessor or Lessee may elect to
terminate the lease as of the date of such damage by written notice thereof to
the other party.  Absent such termination
by either party or if the improvements in which the Premises are located be but
partially destroyed and the damage so occasioned shall not amount to the extent
indicated above, then the Lessor shall repair the same with all convenient
speed and shall have the right to take possession of and occupy, to the
exclusion of the Lessee, all or any part thereof in order to make the necessary
repairs, and the Lessee hereby agrees to vacate upon request, all or any part
thereof which the Lessor may require for the purpose of making necessary
repairs, and for the period of time between the day of such damage and until
such repairs have been substantially completed there shall be such an abatement
of rent as the nature of the injury or damage and its interference with the
occupancy of the Premises by the Lessee shall warrant; however, if the Premises
be but slightly injured and the damage so occasioned shall not cause any
material interference with the occupation of the Premises by Lessee, then there
shall be no abatement of rent and the Lessor shall repair the damage with all
convenient speed.

 

Waiver of Subrogation Rights.

 

(15)                            Neither the Lessor nor the
Lessee shall be liable to the other for loss arising out of damage to or
destruction of the Premises, or the building or improvement of which the
Premises are a part or with which they are connected, or the contents of any
thereof, when such loss is caused by any of the perils which are or could be
included within or insured against by a standard form of fire insurance with
extended coverage, including sprinkler leakage insurance, if any. All such claims
for any and all loss, however caused, hereby are waived. Such absence of
liability shall exist whether or not the damage or destruction is caused by the
negligence of either Lessor or Lessee or by any of their respective agents,
servants or employees. It is the intention and agreement of the Lessor and the
Lessee that the rentals reserved by this lease have been fixed in contemplation
that both parties shall fully provide their own insurance protection at their
own expense, and that both parties shall look to their respective insurance
carriers for 

 

6

 

reimbursement of any such loss, and further, that the insurance
carriers involved shall not be entitled to subrogation under any circumstances
against any party to this lease. Neither the Lessor nor the Lessee shall have
any interest or claim in the other’s insurance policy or policies, or the
proceeds thereof, unless specifically covered therein as a joint insured.

 

Eminent Domain.

 

(16)                            In case of the condemnation
or purchase of all or any substantial part of the Premises by any public or
private corporation with the power of condemnation this lease may be
terminated, effective on the date possession is taken or title is transferred,
by either party hereto on written notice to the other and in that case the
Lessee shall not be liable for any rent after the termination date.

 

(17)                            Intentionally blank.

 

Delivering Up Premises on Termination.

 

(18)                            At the expiration of the
lease term or upon any sooner termination thereof, the Lessee will quit and
deliver up the Premises and all future erections or additions to or upon the
same, broom-clean, to the Lessor or those having Lessor’s estate in the
Premises, peaceably, quietly, and in as good order and condition as when
received, reasonable use and wear thereof, damage by fire, unavoidable casualty
and the elements alone and other events not required hereunder to be repaired
by Lessee excepted, as the same are now in or hereafter may be put in by the
Lessor.

 

Additional Covenants or Exceptions.

 

(19)                            Intentionally blank.

 

(20)                            Lessee shall reimburse
Lessor upon demand for all premiums for casualty insurance with extended
coverage purchased by Lessee to insure any structure on the Premises.

 

(21)                            Lessee shall pay when due all
taxes, assessments and public charges on the Premises.

 

Attachment Bankrupt Default.

 

PROVIDED, ALWAYS,
and these presents are upon these conditions, that (1) if the Lessee shall
be in arrears in the payment of rent for a period of ten days after the same
becomes due, or (2) if the Lessee shall fail or neglect to perform or
observe any of the covenants and agreements contained herein on Lessee’s part
to be done, kept, performed and observed and such default shall continue for
twenty days or more after written notice of such failure or neglect shall be
given to Lessee, except that if the failure is of such a nature that it cannot
be remedied fully within the 20-day period, this requirement shall be satisfied
if Lessee begins correction of the failure within the 20-day period and
thereafter proceeds with reasonable diligence and in good faith to effect the
remedy as soon as practicable, or (3) if the Lessee shall be declared
bankrupt or insolvent according to law, or (4) if any assignment of all or
substantially all of Lessee’s property shall be made for the benefit of
creditors, or (5) if on the expiration of this lease Lessee 

 

7

 

fails to surrender possession of the Premises, the Lessor or those
having Lessor’s estate in the Premises, may terminate this lease and, lawfully,
at Lessor’s option immediately or at any time thereafter, without demand or
notice, enter into and upon the Premises and every part thereof and repossess
the same, and expel Lessee and those claiming by, through and under Lessee and
remove Lessee’s effects at Lessee’s expense, forcibly if necessary and store
the same, all without being deemed guilty of trespass and without prejudice to
any remedy which otherwise might be used for arrears of rent or preceding
breach of covenant.

 

Neither the termination of this lease by
forfeiture nor the taking or recovery of possession of the Premises shall
deprive Lessor of any other action, right, or remedy against Lessee for
possession, rent or damages, nor shall any omission by Lessor to enforce any
forfeiture, right or remedy to which Lessor may be entitled be deemed a waiver
by Lessor of the right to enforce the performance of all terms and conditions
of this lease by Lessee.

 

In the event of any re-entry by Lessor,
Lessor may lease or relet the Premises in whole or in part to any tenant or
tenants who may be satisfactory to Lessor, for any duration, and for the best
rent, terms and conditions as Lessor may reasonably obtain. Lessor shall apply
the rent received from any such tenant first to the cost of retaking and
reletting the Premises, including remodeling required to obtain any such
tenant, and then to any arrears of rent and future rent payable under this
lease and any other damages to which Lessor may be entitled hereunder.

 

Any property which Lessee leaves on the
Premises more than ten (10) days after abandonment or expiration of the
lease, or for more than ten days after any termination of the lease by Lessor,
shall be deemed to have been abandoned, and Lessor may remove and sell the
property at public or private sale as Lessor sees fit, without being liable for
any prosecution therefor or for damages by reason thereof, and the net proceeds
of any such sale shall be applied toward the expenses of Lessor and rent as
aforesaid, and the balance of such amounts, if any, shall be held for and paid
to the Lessee.

 

Holding Over.

 

In the event the Lessee for any reason shall
hold over after the expiration of this lease, such holding over shall not be
deemed to operate as a renewal or extension of this lease, but shall only
create a tenancy at sufferance which may be terminated at will at any time by
the Lessor.

 

Attorney Fees and Court Costs.

 

In case suit or action is instituted to
enforce compliance with any of the terms, covenants or conditions of this
lease, or to collect the rental which may become due hereunder, or any portion
thereof, the losing party agrees to pay the prevailing party’s reasonable
attorney fees incurred throughout such proceeding, including at trial, on
appeal, and for post-judgment collection. The Lessee agrees to pay and
discharge all Lessor’s costs and expenses, including Lessor’s reasonable
attorney’s fees that shall arise from enforcing any provision or covenants of
this lease even though no suit or action is instituted.

 

Should the Lessee be or become the debtor in
any bankruptcy proceeding, voluntarily, involuntarily or otherwise, either
during the period this lease is in effect or while there exists any outstanding
obligation of the Lessee created by this lease in favor of the Lessor, the
Lessee 

 

8

 

agrees to pay the Lessor’s reasonable attorney fees and costs which the
Lessor may incur as the result of Lessor’s participation in such bankruptcy
proceedings. It is understood and agreed by both parties that applicable
federal bankruptcy law or rules of procedure may affect, alter, reduce or
nullify the attorney fee and cost awards mentioned in the preceding sentence.

 

Waiver.

 

Any waiver by the Lessor of any breach of any
covenant herein contained to be kept and performed by the Lessee shall not be
deemed or considered as a continuing waiver, and shall not operate to bar or
prevent the Lessor from declaring a forfeiture for any succeeding breach,
either of the same condition or covenant or otherwise.

 

Recitals.

 

The recitals of this Lease are hereby
incorporated in to this Lease and made a part hereof.

 

Notices.

 

Any notice required by the terms of this
lease to be given by one party hereto to the other or desired so to be given,
shall be sufficient if in writing, contained in a sealed envelope, and sent
first class mail, with postage fully prepaid, and if intended for the Lessor
herein, then if addressed to the Lessor at DFA, LLC c/o Ahern Rentals, Inc.,
4241 S. Arville Street, Las Vegas, Nevada 
89103 and if intended for the Lessee, then if addressed to the Lessee at
Ahern Rentals, Inc., 4241 S. Arville Street, Las Vegas, Nevada  89103. 
Any such notice shall be deemed conclusively to have been delivered to
the addressee forty-eight hours after the deposit thereof in the U.S. Mail.

 

Heirs and Assigns.

 

All rights, remedies and liabilities herein
given to or imposed upon either of the parties hereto shall extend to, inure to
the benefit of and bind, as the circumstances may require, the heirs,
successors, personal representatives and so far as this lease is assignable by
the terms hereof, to the assigns of such parties.

 

In construing this lease, it is understood
that the Lessor or the Lessee may be more than one person; that if the context
so requires, the singular pronoun shall be taken to mean and include the
plural, and that generally all grammatical changes shall be made, assumed and
implied to make the provisions hereof apply equally to corporations and to
individuals.

 

Lessee’s Offset Right.

 

Notwithstanding any provision in this Lease,
in the event Lessee pays any amounts on Lessee’s Guaranty dated July 23,
2004 in favor of CNL Commercial Finance, Inc., a Delaware Corporation
pertaining to certain debts of Lessor secured by Lessor’s interest in the
Premises, Lessee shall have the right to offset such amounts so paid against
rent thereafter to become due under this Lease.

 

9

 

IN WITNESS WHEREOF,
the parties have executed this Lease on the day and year first hereinabove
written, any corporate signature of Lessee being by due authority of its Board
of Directors and any signature of Lessor being by due authority of its managing
member.

 

	
  Lessor:

  	
   

  	
  Lessee:

  
	
  DFA, LLC

  	
   

  	
  AHERN RENTALS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   /s/ DON F. AHERN

  	
   

  	
  By:

  	
   /s/ DON F. AHERN

  
	
  Don F.
  Ahern, Manager

  	
   

  	
  Don F.
  Ahern, President

  
					

 

10

 

EXHIBIT A
to AMENDED AND RESTATED LEASE

 

Legal
Description of the Premises

 

DESCRIPTION NO. ONE

 

Parcel A-2 as shown on that certain Parcel map flied for record May 23,
2002 in Book 51 of Parcel Maps, at Page 62, Stanislaus County Records.

 

APN: 038-025-018

 

DESCRIPTION NO. TWO:

 

PARCEL NO. 1:

 

All that portion of Parcel “B” as shown on that  certain Parcel Map filed November 19,
1974 In Book 20 of Parcel Maps, Page 25, Stanislaus County Records, being
a portion of the South half of Section 4, Township 4 South, Range 9 East,
Mount Diablo Base and Meridian, more particularly described as follows:

 

BEGINNING at the Southwest corner of said Parcel B, said point also
being the Southwest corner of Parcel A-1 as shown on that certain Parcel Map
filed May 23, 2002 in Book 51 of Parcel Maps, at Page 62, Stanislaus
County Records; thence North 12°15’54” West l06.98 feet; thence North 04°48’56
West 123.98 feet; thence North 24°31’02” East 79.96 feet; thence South 82°23’55”
West 323.15 feet thence North 89°59’25” West 140.11 feet; thence South 14°09’30”
East 519.53 feet; thence along the arc of a curve to the left with a radius of
343.39 feet whose center bears North 61°59’05” East a distance of 216.39 feet
through the central angle of 36°06’15”; thence North 89°46’05” East 179.96 feet
to the Southwest corner of Parcel A-2 of said Parcel Map Book 51, Page 62;
thence North 0°00’35” East 392.58 feet to THE POINT OF BEGINNING.

 

The above description is pursuant to that certain Lot Line Adjustment
recorded November 13, 2002 as Instrument No. 2002-0148067-00, and
Certificate of Correction recorded July 26, 2004 as Instrument No. 2004-0119076-00,
Stanislaus County Records.

 

PARCEL NO. 2:

 

A non-exclusive easement for road purpose over and across the following
described property:

 

Commencing at the South quarter corner of Section 4, Township 4
South, Range 9 East, Mount Diablo Base and Meridian and running thence North 2°
23’ East along the quarter section line, a distance of 1250.06 feet to a
point on the South line of that certain private road easement granted to Teresa
Wilen by Deed dated May 24, 1937 and recorded May 28, 1937 in Volume
618 of official records, at page 469; thence North 87° 37’ West along the
South line of said road easement, a distance of 138.10 feet to a point on the
Northeasterly line of the Tidewater Southern Railway Company’s Main Line Track;
thence South 11° 45’ East along the Northeasterly line of said Main Line Track,
a distance of 270.06 feet to the true point of beginning; thence continue South
11° 45’ East along the Northeasterly line of said Main Line Track, a distance
of 60.08 feet; thence North 87° 32’ East, a distance of 924.72 feet to a point
on the Southwesterly line of a 60 foot road known as Seventh Street; thence
North 40° 01’ 30” West along the Southwesterly line of said Seventh Street, a
distance of 75.69 feet; thence South 87° 32’ West, a distance of 888.36 feet to
the true point of beginning.

 

 

Excepting therefrom Parcel “B” as shown on a Parcel Map filed November 19,
1974 in book 20, page 25 of Parcel Maps, in the office of the County
Recorder of Stanislaus County.

 

APN:                   038-025-013/003-025-014

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