8400 BROADWAY 2016-01-01 MF Import

GROUND LEASE 'Ihis Agreement entered into this da,y of _ _, 1994, by and between Virgil L. Vincent & Anna M. Vin�ent H!W ("Licensor') and Jeffrey C. Strickland & Vikki J. Strickland H/W ("Licensee";, whose address and telephone number azt: 1818-72nd Place S.E. Everett. Washington 9P203 Phone # t206) 347-6683 who sill be doing busineas under the name: To Be Determined. TERMS: 1. Licensee accepts ths premises "AS-IS" and agrees to set-up in the space as indicated on Exhibit "A", and to be ready to do business bcginning on July 1. 1994 and witl continue to do so for a pertod of 48 months. Licensor resecves the right to remove all merchandiso and Sxtures without liabiliry if licensee does not vacate the premises whe,n called upon to do so as provided herein. Licensee agrees that storage coab (equivalentto the per diem rental rate) is to be paid upon Licensee's recovery of property. 'Ihe total rental sum is: S500.00 per mcnEh for months 1 through 6; S700.00 for months 7 throu�Si 12; 800.00 per month for months 13 through 24; S900•W per month for months 25 through 36; S1000.00 p..-r month for months 37 through 48 is payable to Iacensor, with a secuiity deposit af 51.300.00 payable upon execution of this agreemenG This security deposit will be applied to the fust months rent and may be applicd to the balance due for thc last months' rent. Licensee agrees to maintain the following estabGshed retail business hours as a minimum: Mondzy through Friday 6:00 a.m. to 7:00 p.m.; Saturday 7:00 a.m. to 4:00 p.m.; Sundaxs and HoGdnys are optional. 2. licensee hereby deposits with the Licensor �1 300.00 as a security deposit to guarantce perfortnance of the tetms of iltis agreement, ag well as poten6al cleaning and repairs to the space involved. If, for any reason, Liccnsee dces not take occupancy on ihe day and date stated in Section 1, then the security deposit is to be forfeited in its entirety to thc Licensor, and this agreement is immediately tecminated for non-performance. 3. Insurance. A) Tenant's Inswance. Tenant, at its sole expense, shali obtain and keep in force during the Tenns ofihis Agreement the following policies of insurance, nazning Landlurd as co-insured. 1. Comprehensive general liability insurance and personal injwy liability inswance, insuring Tenant against liability for injury to persons or damage to prope�ty occutring in or about the Demised Premises or artsing out of the ownership, maintenance, use or occupancy thereof. Said insurance shall specify a singlc occwrence policy limit of at least 51,000,000.00; 2. "All Risk" property insivance, including coverage against ciamagc caused by Sre, windstonn, explosion, vehicles, smokc, riot or vandalism on all of TenanPs