Document:

EX-10.10

Exhibit 10.10

AVIV REIT, INC.

RESTRICTED STOCK AWARD AGREEMENT

     Aviv
REIT, Inc. (the “Company”), hereby grants to                      (the “Participant”), an
employee of Aviv Asset Management, L.L.C. (“AAM”), which is an affiliate of the Company, as
of
                    ,
2009 (the “Grant Date”), pursuant to the provisions
of the Aviv REIT, Inc. 2009 Long-Term
Incentive Plan (the “Plan”), a Restricted Stock Award (the “Award”) with respect to                                        
(                     ) shares of the Company’s Common Stock (“Shares”), upon and subject to the restrictions,
terms and conditions set forth below and in the Plan. Capitalized terms not defined herein shall
have the meanings specified in the Plan.

          1. Award Subject to Agreement. The Award shall be subject to the terms and conditions
of this Agreement.

          2. Rights as a Stockholder. During the Restriction Period (as defined below), the
Participant shall have the right to vote the Shares subject to the Award, to receive any dividends
and other distributions respect to such Shares (less applicable Required Tax Payments (as defined
below)), at the time such dividends are paid to other holders of the Company’s Common Stock, with
it being understood that such dividends will generally be taxable as ordinary compensation income
during such Restriction Period, and to any other privileges of ownership with respect to such
Shares, unless and until such Shares are forfeited pursuant to Section 3 hereof.

          3. Restriction Period and Vesting.

          (a) Subject to subsections (b) through (d) below and Section 5.8 of the Plan, the Award shall
vest with respect to 20% of the original number of Shares subject to the Award on the date which is
181 days immediately following the Grant Date and on each of the first four one-year anniversaries
of the Grant Date; provided, that, the Participant does not experience a
Termination prior to the applicable vesting date.

          (b) If the Participant experiences a Termination as a result of the Participant’s resignation
for Good Reason, AAM’s termination of the Participant without Cause or the Participant’s death,
Disability or Retirement, then any Shares subject to the Award which are unvested on the date of
the Participant’s Termination shall become fully vested.

          (c) If the Participant experiences a Termination for any reason other than as described in
subsection (b) above, all rights with respect to the Shares subject to the Award which are unvested
on the date of the Participant’s Termination shall be forfeited by the Participant and such Shares
shall be cancelled by the Company.

          (d) If a Change in Control occurs prior to the Participant’s Termination, then any Shares
subject to the Award which are unvested on the date of the Change in Control shall become fully
vested.

 

 

          (e) For purposes of this Agreement, the following terms shall have the meanings set forth
below:

     (i) “Good Reason” shall mean (A) a material diminution (of more than
ten percent (10%)) in the Participant’s annual base salary with AAM;
provided, that, such diminution is not in connection with a general
decrease in annual base salaries of all  AAM’s employees; and provided,
further, that such diminution is not related to the Participant’s failure to
perform the Participant’s duties or responsibilities with AAM
and its Affiliates; or
 (B) a material change in the geographic location at which the Participant is
expected to perform services for AAM or its Affiliates to a location
outside of the Chicago metropolitan area.

     (ii) “Cause” shall mean (A) the Participant’s failure to substantially
perform, or negligence in the performance of, the Participant’s
duties with AAM or its Affiliates; (B)
commission of any act of fraud, misconduct (including but not limited
to disruptive behavior or insubordination) or dishonesty which has an adverse impact
on AAM or its Affiliates; (C) conviction of, or plea of guilty or “no contest” to, a
felony or a crime involving moral turpitude; provided, however, that
upon the Participant’s indictment for a felony, regardless of when such indictment
or felony occurs, the Company in its sole discretion may place the Participant on a
paid leave of absence; or (D) material breach of any proprietary information,
inventions, confidentiality, non-competition, non-solicitation or similar agreement
with  AAM or its Affiliates.

     (iii) “Retirement” shall mean the Participant’s Termination on or after
age sixty-five (65) and after at least five (5) years of employment with AAM or its
Affiliates.

          4. Termination of Award. In the event that the Participant shall forfeit any Shares
subject to the Award, the Participant shall, upon the Company’s request, promptly return this
Agreement to the Company for cancellation. Such cancellation shall be effective upon forfeiture
regardless of whether the Participant is requested to return or returns this Agreement.

          5. Custody and Delivery of Certificates Representing Shares. The Shares subject to
the Award may be held by a custodian in book entry form with the restrictions on such Shares duly
noted or, alternatively, the Company may hold the certificate or certificates representing such
Shares, in either case until the Award shall have vested, in whole or in part, pursuant to Section
3 hereof. As soon as practicable after the Shares shall have vested pursuant to Section 3 hereof,
subject to Section 7.3 hereof, the restrictions shall be removed from those of such Shares that are
held in book entry form, and the Company shall deliver to the Participant any certificate or
certificates representing those of such Shares that are held by the Company and destroy or return
to the Participant the stock power or powers relating to such Shares. If such stock power or
powers also relate to unvested Shares, the Company may require, as a condition precedent to the
delivery of any certificate pursuant to this Section 5, the execution and delivery to the Company
of one or more irrevocable stock powers relating to such unvested Shares. The Company shall pay all original issue or transfer taxes and all fees and expenses incident to
the delivery of any vested Shares subject to the Award, except as otherwise provided in Section
7.3.

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          6. Substitution Award for Class D Units. The Award has been granted to the
Participant in substitution of the Participant’s restricted Class D Units of Aviv Healthcare
Properties Limited Partnership (the “Class D Award”) which were granted to the Participant
prior to the Company’s consummation of its initial public offering. By accepting this Award, the
Participant acknowledges, as of the Grant Date, that the Participant shall have no further rights
of any kind with respect to the Class D Award, including but not limited to payment rights,
pursuant to the award agreement which evidenced the Class D
Award or otherwise. By granting this Award to the Participant,
the Company is cancelling the Class D Award agreement on the Grant Date and the Participant shall,
upon the Company’s request, promptly return the Class D Award agreement for cancellation on the Grant Date.
Such cancellation shall be effective on the Grant Date regardless of whether the Participant is
requested to return or returns the Class D Award agreement.

          7. Additional Terms and Conditions of Award.

          7.1. Nontransferability of Award. The Award may not be transferred by the Participant
other than by will, the laws of descent and distribution or pursuant to the beneficiary designation
procedures approved by the Company consistent with this Agreement. Except to the extent permitted
by the foregoing, the Shares subject to the Award may not be sold, transferred, assigned, pledged,
hypothecated, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be
subject to execution, attachment or similar process. Upon any attempt to so sell, transfer,
assign, pledge, hypothecate or encumber, or otherwise dispose of such Shares, the Award shall
immediately become null and void.

          7.2. Investment Representation. The Participant hereby represents and covenants that
(a) any Share acquired upon the vesting of the Award will be acquired for investment and not with a
view to the distribution thereof within the meaning of the Securities Act of 1933, as amended (the
“Securities Act”), unless such acquisition has been registered under the Securities Act and any
applicable state securities law; (b) any subsequent sale of any such Shares shall be made either
pursuant to an effective registration statement under the Securities Act and any applicable state
securities laws, or pursuant to an exemption from registration under the Securities Act and such
state securities laws; and (c) if requested by the Company, the Participant shall submit a written
statement, in form satisfactory to the Company, to the effect that such representation (x) is true
and correct as of the date of acquisition of any Shares hereunder or (y) is true and correct as of
the date of any sale of any such Shares, as applicable. As a further condition precedent to the
delivery to the Participant of any Shares subject to the Award, the Participant shall comply with
all regulations and requirements of any regulatory authority having control of or supervision over
the issuance of such Shares and, in connection therewith, shall execute any documents which the
Board, the Committee or any other committee authorized by the Board shall in its sole discretion
deem necessary or advisable.

          7.3. Withholding Taxes.

          (a) As a condition precedent to the delivery to the Participant of any Shares subject to the
Award, the Participant shall, upon request by the Company, pay to the Company such amount of cash
as the Company may be required, under all applicable federal, state, local or other laws or
regulations, to withhold and pay over as income or other withholding taxes (the “Required Tax
Payments”) with respect to the Award. If the Participant shall fail to advance the Required Tax
Payments after request by the Company, the Company may, in its discretion, deduct any Required Tax
Payments from any amount then or thereafter payable by the Company to the Participant.

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          (b) The Participant may, with the consent of the Company, elect to satisfy the Participant’s
obligation to advance the Required Tax Payments by any of the following means: (1) a cash payment
to the Company pursuant to Section 7.3(a), (2) authorizing the Company to withhold from the Shares
otherwise to be delivered to the Participant pursuant to the Award, a number of whole Shares having
a Fair Market Value, determined as of the date the obligation to withhold or pay taxes first arises
in connection with the Award, equal to the Required Tax Payments or (3) any combination of (1) or
(2). The Committee shall have sole discretion to disapprove of an election pursuant the preceding
sentence. Such Shares to be delivered or withheld may not have a Fair Market Value in excess of
the minimum amount of the Required Tax Payments. Any fraction of a Share which would be required
to satisfy such an obligation shall be disregarded and the remaining amount due shall be paid in
cash by the Participant. No certificate representing a Share subject to the Award shall be
delivered until the Required Tax Payments have been satisfied in full.

          7.4. Adjustment. In the event of any stock split, stock dividend, recapitalization,
reorganization, merger, consolidation, combination, exchange of shares, liquidation, spin-off or
other similar change in capitalization or event, or any distribution to holders of the Company’s
Common Stock other than a regular cash dividend, the number and type of securities subject to the
Award and other terms of the Award shall be appropriately adjusted by the Committee. The decision
of the Committee regarding any such adjustment shall be final, binding and conclusive.

          7.5. Compliance with Applicable Law. The Award is subject to the condition that if
the listing, registration or qualification of the Shares subject to the Award upon any securities
exchange or under any law, or the consent or approval of any governmental body, or the taking of
any other action is necessary or desirable as a condition of, or in connection with, the vesting or
delivery of such Shares hereunder, the Shares subject to the Award shall not vest or be delivered,
in whole or in part, unless such listing, registration, qualification, consent or approval shall
have been effected or obtained, free of any conditions not acceptable to the Company. The Company
agrees to use reasonable efforts to effect or obtain any such listing, registration, qualification,
consent or approval.

          7.6. Award Confers No Rights to Continued Employment. In no event shall the granting
of the Award or its acceptance by the Participant give or be deemed to give the Participant any
right to continued employment by the Company or any affiliate of the Company.

          7.7.
Confidential Information. By accepting the Award, the Participant agrees to hold in a fiduciary
capacity for the benefit of  AAM and its Affiliates (including the Company) all secret or confidential
information, knowledge or data relating to AAM and its Affiliates and their respective businesses, that
shall have been obtained by the Participant during the
Participant’s employment with AAM and that shall not be or
become public knowledge (other than by acts by the Participant or representatives of the Participant in violation
of this Agreement).  After the Participant’s Termination, the Participant shall not, without the prior written
consent of AAM or as may otherwise be required by law or legal process, communicate or divulge any such information,
knowledge or data to anyone other than AAM and its Affiliates and
those designated by them.

          7.8. Decisions of Committee. The Committee shall have the right to resolve all
questions which may arise in connection with the Award. Any interpretation,
determination or other action made or taken by the Committee regarding the Plan or this
Agreement shall be final, binding and conclusive.

          7.9. Agreement Subject to the Plan. This Agreement is subject to the provisions of
the Plan and shall be interpreted in accordance therewith. The Participant acknowledges receipt of
a copy of the Plan. The Company reserves the right to amend this Agreement to the extent it
determines in its sole discretion such amendment is necessary or appropriate to comply with
applicable law, including but not limited to section 409A of the Code.

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          8. Miscellaneous Provisions.

          8.1. Meaning of Certain Terms. As used herein, the term “vest” shall mean no longer
subject to forfeiture. References in this Agreement to sections of the Code shall be deemed to
refer to any successor section of the Code or any successor internal revenue law.

          8.2. Successors. This Agreement shall be binding upon and inure to the benefit of any
successor or successors of the Company, AAM and their respective affiliates and any person or
persons who shall, upon the death of the Participant, acquire any rights hereunder in accordance
with this Agreement or the Plan.

          8.3. Notices. All notices, requests or other communications provided for in this
Agreement shall be made, if to the Company, to Aviv REIT, Inc., 303 West Madison Street, Suite
2400, Chicago, Illinois 60606, Attention: Chief Executive Officer, and if to the Participant, to
the Participant’s address set forth in the Company’s records. All notices, requests or other
communications provided for in this Agreement shall be made in writing either (a) by personal
delivery to the party entitled thereto, (b) by facsimile with confirmation of receipt, (c) by
mailing in the United States mails to the last known address of the party entitled thereto or (d)
by express courier service. The notice, request or other communication shall be deemed to be
received upon personal delivery, upon confirmation of receipt of facsimile transmission, or upon
receipt by the party entitled thereto if by United States mail or express courier service;
provided, however, that if a notice, request or other communication is not received
during regular business hours, it shall be deemed to be received on the next succeeding business
day of the Company.

          8.4. Governing Law. This Agreement, the Award and all determinations made and actions
taken pursuant hereto and thereto, to the extent not otherwise governed by the laws of the United
States, shall be governed by the laws of the State of Maryland and construed in accordance
therewith without giving effect to conflicts of laws principles.

          8.5. Arbitration. Any dispute or controversy between the Company or its respective
affiliates (including AAM) on the one hand, and the Participant on the other hand, whether arising
out of or relating to this Agreement, the breach of this Agreement, or otherwise, shall be settled
by final and binding arbitration in Cook County, Illinois administered by the American Arbitration
Association, with any such dispute or controversy arising under this Agreement being so
administered in accordance with its Commercial Rules then in effect, and judgment on the award
rendered by the arbitrator may be entered in any court having jurisdiction thereof. The arbitrator
shall have the authority to award any remedy or relief that a court of competent jurisdiction could order or grant, including, without limitation, the issuance of an
injunction. Except as necessary in court proceedings to enforce this arbitration provision or an
award rendered hereunder, or to obtain interim relief, neither a party nor an arbitrator may
disclose the existence, content or results of any arbitration hereunder without the prior written
consent of the Company and the Participant. The Company and the Participant acknowledge that this
Agreement evidences a transaction involving interstate commerce. Notwithstanding any choice of law
provision included in this Agreement, the United States Federal Arbitration Act shall govern the
interpretation and enforcement of this arbitration provision.

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          8.6. Counterparts. This Agreement may be executed in two counterparts each of which
shall be deemed an original and both of which together shall constitute one and the same
instrument.

          8.7. Compliance With the Code. This Agreement is intended to comply with Section 409A
of the Code, and shall be interpreted and construed accordingly. All references in this Agreement
to the Participant’s Termination shall mean the Participant’s separation from service from AAM and
its affiliates within the meaning of Treasury Regulation § 1.409A-1(h). Each amount payable under
this Agreement shall constitute a “separately identified amount” within the meaning of Treasury
Regulation § 1.409A-2(b)(2). The Participant acknowledges that the Company has encouraged the
Participant to consult his own adviser to determine the tax consequences of the Award and that
neither the Company nor its affiliates are providing the Participant with any tax advice with
respect to Section 409A of the Code or otherwise and are not making any guarantees or other
assurances of any kind to the Participant with respect to the tax consequences or treatment of any
amounts payable to the Participant under this Agreement.

	 	 	 	 	 
	 	AVIV REIT, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Craig M. Bernfield 	 
	 	 	Title:  	Chairman, Chief Executive

Officer and President 	 
	 

Accepted
this ___ day of

                                        ,
2009.

                                                            

6EX-10(B)

Exhibit 10(b)

COMMERCIAL LEASE CONTRACT

     THIS LEASE, made this 1st day of June, 2008, by and between Ronald D. Ordway, first
party (hereinafter called “Landlord”), and Video Display
Corp., second party (hereinafter
called “Tenant”),

WITNESSETH:

     1. PREMISES. The Landlord, for and in consideration of the rents, covenants, agreements, and
stipulations hereinafter mentioned, reserved, and contained, to be paid, kept, and performed
by the Tenant,
has leased and rented, and by these presents does lease and rent, unto the said Tenant, and
said Tenant
hereby agrees to lease and take upon the terms and conditions which hereinafter appear, the
following
described property (hereinafter called the “Premises”), to-wit:

and being
known as 4601 Lewis Road, Stone Mountain, GA. 30084

     No easement for light or air is included in the premises.

     2. TERM. To have and to hold the same for a term of 120 months, beginning on the 1st day of
June, 2008, and ending on the 31st day of May, 2018, at midnight, unless sooner terminated as
hereinafter
provided.

     3. RENTAL. Tenant agrees to pay Landlord, by payments to Landlord at Landlord’s office
located
at 1868 Tucker Industrial Drive, promptly on the first day of each month in advance, during
the term of this
Lease, a monthly rental of $10,000.00, subject to five percent (5%) annual increases in the
cost of living as
hereinafter computed.

     4. UTILITY BILLS. Tenant shall pay all utility bills, including, but no limited to, water,
sewer,
gas, electricity, fuel, light, and heat bills, for the Premises, and Tenant shall pay all
charges for garbage
collection services or other sanitary services rendered to the Premises or used by Tenant in
connection
therewith. If Tenant fails to pay any of said utility bills or charges for garbage collection
or other sanitary
services, Landlord may pay the same and such payment may be added to the rental of the
Premises next
due as additional rental.

     5. USE OF PREMISES. The Premises shall be used for general office and warehouse purposes
and no other. The Premises shall not be used for any illegal purposes; or in any manner to
create any
nuisance or trespass; or in any manner to vitiate the insurance or increase the rate of
insurance on the
Premises.

     6. ABANDONMENT OF PREMISES. Tenant agrees not to abandon or vacate the Premises
during the period of this Lease, and agrees to use said Premises for the purpose herein
leased until the
expiration hereof.

     7. REPAIRS BY LANDLORD. Landlord has leased the facilities to the Tenant on a triple net basis
which is understood by both parties as causing the Tenant to be responsible for any and all
repairs and
maintenance of the building and property and included equipment. Tenant shall promptly report
in writing
to Landlord any defective condition known to it which Tenant is required to repair, and
failure to so report
such defects shall not relieve the Tenant from his financial responsibility to Landlord for
any damages
incurred by Landlord by reason of such defects.

     8. REPAIRS BY TENANT. Tenant accepts the Premises in their present condition and as suited
for the uses intended by Tenant. Tenant shall, throughout the initial term of this Lease and
all renewals

 

 

thereof, at its expense, maintain the Premises in good order and repair, including the building and
other improvements located thereon, except those repairs expressly required to be made by Landlord.
Tenant further agrees to care for the grounds around the building, including the mowing of grass,
paving, care of shrubs, and general landscaping. Tenant agrees to return said Premises to Landlord
at the expiration or prior to termination, of this Lease in as good condition and repair as when
first received, natural wear and tear, damage by storm, fire, lightning, earthquake, or other
casualty alone excepted.. Tenant agrees to keep in good repair the roof, foundations, and
exterior walls of the Premises (including all glass and all exterior doors), and underground
utility and sewer pipes outside the exterior walls of the Building, except repairs rendered
necessary by the negligence of Landlord, its agents, employees, or invitees. Landlord gives to
Tenant exclusive control of the Premises and shall be under no obligation to inspect said Premises.

     9. DESTRUCTION OF, OR DAMAGE TO PREMISES. If the Premises are totally destroyed by
storm, fire, lightning, earthquake, or other casualty, this Lease shall terminate as of the
date of such
destruction, and rental shall be accounted for as between Landlord and Tenant as of that date.
If the
Premises are damaged but no wholly destroyed by any such casualties, rental shall abate in
such proportion
as use of the Premises has been destroyed, and Landlord shall restore the Premises to
substantially the same
condition as before damage as speedily as practicable, whereupon full rental shall recommence.

     10. INDEMNITY. Tenant agrees to indemnify and save harmless the Landlord against all claims
for damages to persons or property by reason of use or occupancy of the Premises, and all
expenses
incurred by Landlord because thereof, including attorneys’ fees and court costs.

     11. GOVERNMENTAL ORDERS. Tenant agrees, at its own expense, to promptly comply with
all requirements of any legally constituted public authority made necessary by reason of
Tenant’s
occupancy of said Premises. Landlord agrees to promptly comply with any such requirements if
not made
necessary by reason of Tenant’s occupancy. It is mutually agreed, however, between Landlord
and Tenant,
that if in order to comply with such requirements, the cost to Landlord or Tenant, as the case
may be, shall
exceed a sum equal to one (1) year’s rent, then Landlord or Tenant who is obligated to comply
with such
requirements is privileged to terminate this Lease by giving written notice of termination to
the other party,
by certified mail, which termination shall become effective sixty (60) days after receipt of
such notice, and
which notice shall eliminate necessity of compliance with such requirement by the party giving
such notice
unless the party receiving such notice of termination shall, before termination becomes
effective, pay to the
party giving notice all costs of compliance in excess of one (1) year’s rent, or secure
payment of said sum in
a manner satisfactory to the party giving notice.

     12. CONDEMNATION. If the whole of the Premises, or such portion thereof as will make the
Premises unusable for the purposes herein leased, be condemned by any legally constituted
authority for
any public use or purpose, then in either of said events the term hereby granted shall cease
from the date
when possession thereof is taken by public authorities, and rental shall be accounted for as
between
Landlord and Tenant as of said date. Such termination, however, shall be without prejudice to
the rights of
either Landlord or Tenant to recover compensation and damage caused by condemnation from the
condemner. It is further understood and agreed that neither the Tenant nor Landlord shall have
any rights in
any award made to the other by any condemnation authority notwithstanding the termination of
the Lease
as herein provided.

     13. ASSIGNMENT AND SUBLETTING. Tenant may not sublet any portion of the premises to
others nor may Tenant assign its interest in this Lease to any person without the written
consent of
Landlord.

     14. REMOVAL OF FIXTURES. Tenant may (if not in default hereunder), prior to the expiration
of this Lease or any extension thereof, remove all fixtures and equipment which he has placed
in the
Premises, provided Tenant repairs all damage to the Premises caused by such removal.

 

 

     15. CANCELLATION OF LEASE BY LANDLORD. It is mutually agreed that in the event Tenant
shall default in the payment of rent, including additional rent, herein reserved, when due, and
fails to cure said default within five (5) days after written notice thereof from Landlord; or if
Tenant shall be in default in performing any of the terms or provisions of this Lease other than
the provision requiring the payment of rent, and fails to cure such default within thirty (30) days
after the date of receipt of written notice of default from Landlord; or of Tenant is adjudicated
bankrupt; or if a permanent receiver is appointed for Tenant’s property and such receiver is not
removed within sixty (60) days after written notice from Landlord to Tenant to obtain such removal;
or if, whether voluntarily or involuntarily, Tenant takes advantage of any debtor relief
proceedings under any present or future law,
whereby the rent or any part thereof is, or is proposed to be, reduced or payment thereof deferred;
or if Tenant makes as assignment for the benefit of creditors; or if Tenant’s effects should be
levied upon or attached under process against Tenant, not satisfied or dissolved within thirty (30)
days after written notice from Landlord to Tenant to obtain satisfaction thereof; then, and in any
of said events, Landlord, at his option, may at once, or within six (6) months thereafter (but only
during continuance of such default or condition), terminate this Lease by written notice to Tenant;
whereupon this Lease shall end. After an authorized assignment or subletting of the entire Premises
covered by this Lease, the occurring of any of the foregoing defaults or events shall affect this
Lease only if caused by, or happening to, the assignee or sublessee. Any notice provided in this
paragraph may be given by Landlord or his attorney. Upon such termination by Landlord, Tenant will
at once surrender possession of the Premises to Landlord and remove all of Tenant’s effects
therefrom; and Landlord may forthwith re-enter the Premises and repossess itself thereof, and
remove all persons and effects therefrom, using such force as may be necessary without being guilty
of trespass, forcible entry, or detainer or other tort.

     16. RELETTING BY LANDLORD. Landlord, as Tenant’s agent, without terminating this Lease,
upon Tenant’s breaching this contract, may, at Landlord’s option, enter upon and rent the
Premises at the
best price obtainable by reasonable effort, without advertisement and by private negotiations
and for any
term Landlord deems proper. Tenant shall be liable to Landlord for the deficiency, if any,
between Tenant’s
rent hereunder and the price obtained by Landlord on reletting.

     17. EXTERIOR SIGNS. Tenant shall place no signs upon the outside walls or roof of the
Premises except with the written consent of Landlord. Any and all signs placed on the within
Premises by
Tenant shall be maintained in compliance with rules and regulations governing such signs and
the Tenant
shall be responsible to Landlord for any damage caused by installation, use, or maintenance of
said signs,
and Tenant agrees upon removal of said signs to repair all damage incident to such removal.

     18. ENTRY FOR CARDING, ETC. Landlord may card premises “For Rent” or “For Sale” thirty
(30) days before the termination of this Lease. Landlord may enter the Premises at reasonable
hours to
exhibit same to prospective purchasers or tenants and to make repairs required of Landlord
under the terms
hereof, or to make repairs to Landlord’s adjoining property, if any.

     19. EFFECT OF TERMINATION OF LEASE. No termination of this Lease prior to the normal
ending thereof, by lapse of time or otherwise, shall affect Landlord’s right to collect rent
for the period prior
to termination thereof.

     20. MORTGAGEE’S
RIGHTS. Tenant’s rights shall be subject to any
bona fide mortgage or deed
to secure debt which is now, or may hereafter be, placed upon the Premises by Landlord.

     21. NO ESTATE IN LAND. This contract shall create the relationship of Landlord and Tenant
between the parties hereto; no estate shall pass out of Landlord. Tenant has only a usufruct,
not subject to
levy and sale, and no assignable by Tenant except by Landlord’s consent.

 

 

     22. HOLDING OVER. If Tenant remains in possession of Premises after expiration of the term
hereof, with Landlord’s acquiescence and without any express agreement of parties, Tenant
shall be a tenant
at will at the rental rate in effect at the end of this Lease; and there shall be no renewal
of this Lease by
operation of law.

     23. ATTORNEYS’ FEES. If any rent owing under this Lease is collected by or through
an
attorney at law, Tenant agrees to pay fifteen percent (15%) thereof as attorneys’ fees.

     24. RIGHTS CUMULATIVE. All rights, powers, and privileges conferred hereunder upon the
parties hereto shall be cumulative but not restrictive to those given by law.

     25. SERVICE OF NOTICE. Tenant hereby appoints as his agent to receive service of all
dispossessory or distraint proceedings and notices hereunder, and all notices required under this
Lease, the person in charge of the Premises at the time, or occupying said Premises; and if no
person is in charge of, or occupying said Premises, then such service or notice may be made by
attaching the same on the main entrance to said Premises. A copy of
all notices under this Lease
shall also be sent to Tenant’s last known address, if different from said Premises.

     26. WAIVER OF RIGHTS. No failure of Landlord to exercise any power given Landlord
hereunder, or to insist upon strict compliance by Tenant with his obligation hereunder, and
no custom or
practice of the parties at variance with the terms hereof shall constitute a waiver of
Landlord’s right to
demand exact compliance with the terms hereof.

     27. TIME OF ESSENCE. Time is of the essence of this agreement.

     28. DEFINITIONS. “Landlord,” as used in this Lease, shall include first party, his heirs,
representatives, assigns, and successors in title to the Premises. “Tenant” shall include
second party, his
heirs and representatives, and if this Lease shall be validly assigned or sublet, shall
include also Tenant
assignees or sublessees, as to the Premises covered by such assignment or sublease.
“Landlord” and
“Tenant” include male and female, singular and plural, corporation, partnership, or
individual, as may fit
the particular parties.

     29. ENTIRE AGREEMENT. This Lease contains the entire agreement of the parties hereto, and
no representations, inducements, promises, or agreements, oral or otherwise, between the
parties, not
embodied herein, shall be of any force or effect.

     IN WITNESS WHEREOF, the parties herein have hereunto set their hands and seals, in duplicate,
the day and year first above written.

	 	 	 	 	 
	 	LANDLORD:

Ronald D. Ordway

 	 
	 	By:  	/s/ RONALD D. ORDWAY
 	  {SEAL}
	 	 	Title:  	Chief Executive Officer 	 
	 

 

 

[Execution by Tenant Follows on Next Page.]

	 	 	 	 	 
	 	TENANT:

 	 
	 	/s/ RONALD D. ORDWAY
 	 
	 	 	 
	 	 	 
	 	By:  	Ronald D. Ordway
 	  {SEAL}
	 	 	Title: Chief Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}]]