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LEASE AGREEMENT
<br />THIS SHOPPING CENTER LEASE AGREEMENT, made and en,ered into this __ day of February
<br />1980 by and between
<br />Titanic Associates, a general partnership with principal
<br />nffices in New Jersey.
<br />as LANDLORD, and
<br />Purdy's Chocolates, Inc., a corporation under the laws of
<br />Washington, one of the United States of America,
<br />Licence hb. D 292665-80.
<br />as TENANT.
<br />Wi FNESSETH:
<br />ARTICLE I: GRANT AND TERM
<br />1.01 PREMISES
<br />For the term, at the rent and upon the provL;ois and hereinafter contained, Landlord does hereby let
<br />and lease unto�n,T�;Qnnannt the following described property, con>f;ting of a �lweroom (without basement, balcony or mezzanine)
<br />.ontage
<br />haFingof � enty (20)feet app-)xinately, said measurement being frm center of partition to center of
<br />Wj, on,exceptthatS,.theeventthePremisesisandendlocation,saidmeasurementshallincludethefullwidthoftheendwall,
<br />AND a depth of api.,oximately fqr (40) feet, outside dimensions, creating a Gross Leasable Area of the Demised
<br />Premises of approdmately 695 square feet (hereinafter tailed the "DEMISED PREMISES" or "PREMISES.").
<br />It is expressly agnted that the Premises does not ir.atude the land bent : th said Premises nor any space above a height of ten (10)
<br />feet from finished .9nor provided that Tenant shall havc the non-exclusive right :o use a portion of such space for the location of
<br />Tenant's construction and equipment serving the Premn:es subject to the approval of Landlord as m location and installation.
<br />such right to be in common with Landlord and al! others to whorn Landlord has or may hereafter grant such rights. The exterior
<br />Lace of exterior walls, the roof and the use thereof, together with the right Lo install, maintain, use, repair and replace such pipes.
<br />duct work, conduits, utility lines, tunnelling, wires and the like through ceiling plenum areas, column space, partitions, in or
<br />beneath floor slabs or above or below the Premises, as may be reasonably necessary or advisable for the servic'ig of the
<br />Premises or other portions of the Shopping Center ofwhich the Premises are a part are expressly reserved unto the Lndiord,proVi.ded
<br />The approximate boundaries and location of said Premises are shown in red on the site plan of the Shopping Center marked (see att-
<br />EXHIBIT"A",attached hereto and made apart of The Everett Mall Shopping Center, located in the City ached)
<br />of Everett , County of _Snohomish , and State of WaSlli %f-nn__
<br />Wherever in this Lease reference is made to the "SHOPPING CENTER" it is understood to mean that portion of the
<br />property owned by the Landlord or controlled by the Landlord under a leaseltold interest from time to time.
<br />1.02 TERM
<br />The TERM of this lease shall be fora penod of fifteen( 15 ) years otIIter corn.
<br />mencingontheuarliRctooccurofthefe!lowingdates:(Herr:.= ;: :- _ -- :--ice`,.^-ri -o tdamARn-t4 ja.3.05,
<br />(30, days after Landlord notifies the Tenant in writing that the Premises is ready for TcVnt's occupancy as defined in Section
<br />3.03. or (iii) the date on which Tenant shall open me Pnmises for business to the public/In the event ti,a: the expiration of the
<br />thirty -day period provided In III) hereof does not occur on the first day of the month or in the event the Tenant shall have opened
<br />the Premises for business to the public on a cloy other than the first day of the month, then t:,e term hereunder shall commence
<br />on the first day of the month next succeed;-"•{ the capitation of said thirty (30) day period or next succeeding the opening of the
<br />Premises for business. ;n that event, however, the Tenant shall pay Rent for the fractional month on a per diem basis
<br />(calculated on the bvts of a thirty -day month) until the first day of the month when the term hereunder commences; and
<br />there after the Rent shall be paid in equal menthly installments on the first day of each m,nd every month of the ttrm hereof in
<br />advance or as outenvue provided herein. The date established for the commencement of the Term of this Lase shall
<br />hereinafter be .!died the "COMMENCEMENT DATE." *, Eubiect always to delay until the date on
<br />on
<br />which the Frederick 6 NelsDepartment Store opens fo:. business.
<br />1WXT QM= 1. 03 I.ICEN= TO LSE C CMI� r] AREAS - see attached
<br />1.04 VERIFICATION OF TERM:
<br />Each of the parties hereto agrees that when the Commencement Date and termination date have been determined
<br />as Provided in Section 1.02, Landlord and Tenant shall execute, acknowledge and deliver a written r utement in recordable
<br />form, specifying therein the Commencement Date and teradnatlon date of the Term of this Leas'.
<br />1.03 LEASE YEAR DEFINED:
<br />The term "LEASE YEAR," as used in this Lease, shall be defined m mean a pe,i,A of twelve (12) consecutive
<br />ealenthrr months. The first Lease Year shall be a partial Lase Year consisting of less than twelve (12) calendar months
<br />commencing upon the Commencement Date of the Term of this Lase and terminating on the last day of the month of
<br />December next following. The second and succeeding Lane Yesre shall be exactly twelve (12) months following successively
<br />8/79 �� i
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