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2023-034A
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2023-034A
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Last modified
7/6/2023 11:17:16 AM
Creation date
7/6/2023 11:06:52 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Lease
Approved Date
02/07/2023
Control Number
2023-034A
Agenda Item Number
8.K.
Entity Name
Flowsmart Sebastian, LLC dba Five Guys
Subject
Agreement of Lease, 1919US Hwy 1 Sebastian
Document Relationships
2023-034
(Cover Page)
Path:
\Official Documents\2020's\2023
2023-034B
(Agenda)
Path:
\Official Documents\2020's\2023
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Lease. A statement by Landlord to any subtenant that an event of default by Tenant has occurred under <br />this Lease shall be conclusive evidence of such fact and shall be (and may be) relied upon by the <br />subtenant in making payments to Landlord. No subtenant shall be liable to Tenant for any payment made <br />by the subtenant to Landlord pursuant to the paragraph. No sublease shall be valid or effective unless it <br />shall expressly restate therein the provisions of this paragraph. <br />(K) Tenant hereby grants to Landlord a security <br />interest under the Uniform Commercial Code in all of tenant's good and property about the Leased <br />Premises. Said Security interest shall secure unto Landlord the payment of all rent and charges <br />collectible or reserved hereunder which shall become due under the provisions of this Lease. <br />Tenant hereby agrees to execute, upon request of Landlord, such statements as may be required <br />under the provision of the said Uniform Commercial Code to perfect Landlord's security interest <br />in Tenant's goods and property about the Leased Premises. Notwithstanding the foregoing, <br />Landlord agrees to execute a reasonable waiver or subordination agreement from any leasing <br />company or lender who finances the purchase of any furniture and equipment Tenant uses at the <br />Premises. <br />(L) In the event of any default by Tenant of any of its obligations <br />under this Lease, Tenant shall immediately pay to Landlord, upon demand, an amount equal to all <br />reasonable attorneys' fees and court costs incurred by Landlord in enforcing its rights and remedies <br />under this Lease, whether or not an administrative and/or judicial action is commenced by Landlord <br />against Tenant by reason of such default. <br />15.02 Default by Landlord. Landlord shall not be in default of any of its obligations in <br />this Lease unless Landlord or the holder of any Mortgage on the Center shall have failed to <br />commence to perform such obligation within thirty (30) days after notice by Tenant to Landlord <br />and to such mortgagee properly specifying wherein Landlord has failed to perform any such <br />obligation or shall have failed to proceed thereafter with reasonable diligence to complete such <br />performance. <br />15.03 Curing Tenant's Defaults. If Tenant shall be in default of any of its obligations under <br />this Lease, Landlord may (but shall not be obligated to do so), in addition to any other rights it may <br />have in law or equity or under this Lease, cure such default on behalf of Tenant, and Tenant shall <br />reimburse Landlord upon demand for any reasonable sums paid or costs incurred by Landlord in <br />curing such default, together with interest at the Effective Rate from the respective dates of <br />Landlord's making of the payments and incurring of the costs, on all sums advanced by Landlord <br />as aforesaid, which sums and costs together with interest thereon shall be deemed additional rent <br />payable under this Lease. <br />15.04 Waiver of Breach. The waiver by Landlord or Tenant of any breach of any term, <br />covenant or conditions contained in this Lease, shall not be deemed to be a waiver of any <br />subsequent breach of the same or any other term, covenant or condition contained in this Lease. <br />SECTION 16 <br />INSPECTION RIGHTS <br />16.01 Landlord's Right to Inspect. Landlord and the holder of any Mortgage, and each of <br />their agents, shall have the right to enter the Leased Premises at all times to examine same and to <br />show them to prospective purchasers or tenants, and to make such repairs, alterations. <br />25 <br />
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