CC PACKET 09081992 - Laserfiche WebLink

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September 16, 1992 for the period commencing September 16, 1992 through and including September 30, 1992, and thereafter Lessee shall pay the monthly amount of Two Hundred and No/100ths Dollars ($200.00) for each month commencing October 1, 1992 through and including (a) September 30,1997, or (b) the date that Lessee exercises its option to purchase the Restaurant Equipment in accordance with this Section, as the case may be. Provided that Lessee is not in default under this Lease, which default remains uncured, Lessee shall have the option at.any time during the term of this Lease to purchase the Restaurant Equipment for the sum of Forty Thousand and No/100ths Dollars ($40,000.00) (the "Purchase Price"). Lessee shall exercise said option by delivering the Purchase Price to Lessor by wire transfer or certified check. Promptly upon receipt of the Purchase Price, Lessor shall deliver to Lessee a Bill of Sale for the Restaurant Equipment. Lessee understands that the Farmer Brothers coffee brewer and the Hobart dishwasher, which are located on the Leased Premises as of the date hereof, are not owned by Lessor, and that Lessor does not have any obligations whatsoever with respect to said equipment. 25. RELATIONSHIP OF PARTIES. The relationship between the parties to this Lease shall be and is expressly one of landlord and tenant, and no partnership, joint venture or other • association or relationship exists between Lessor and Lessee. No employee of Lessee will be deemed an employee of Lessor, and no employee of Lessor will be deemed an employee of Lessee. Each party will:be responsible for the acts and omissions of only its own employees and not those of the other party. 26. COMPETTITON. Neither Lessee nor any person, partnership, corporation or other entity under the control of Lessee or under common control with Lessee will own, operate or manage a restaurant within a one-mile radius of the Leased Premises during the term of this Lease. 27. BROKERS. Lessor has been informed that Lawrence W. Manning has retained Bruce Johnson of Restaurant- Brokers of Minnesota as a broker in connection with the transaction between Manning's Cafe, Inc. and Lessee. Lessee acknowledges that Lessor shall not be liable for all or any portion or the brokerage commission or fee in connection therewith. Except as set forth in the first sentence of this Section, Lessor and Lessee represent and warrant one to another that neither of them has employed or otherwise used any broker or agent in relation to this Lease. Lessor will indemnify and hold Lessee harmless, and Lessee will indemnify and hold Lessor -13-