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McDonalds Lease - Lofty Holding 621 E Le Claire Road LLC.pdf

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Eldridge, Iowa UC: 014-0307 SMALL TOWN RETAIL LEASE (Multiple Tenant) THIS SMALL TOWN RETAIL LEASE ("Lease") dated Ynac<h ..2..!(., 2010 is between STW ELDRIDGE, LLC, an Iowa limited liability company ("Landlord") and McDONALD'S USA, LLC, a Delaware limited liability company ("Tenant"). PRELIMINARY STATEMENTS A. Landlord (subject to Section 9(H)) is the owner of the real property described on Exhibit A attached (the "Land") on which a multi-tenant building (the "Building") is or will be located.

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Eldridge, Iowa

UC: 014-0307
SMALL TOWN RETAIL LEASE
(Multiple Tenant)
THIS SMALL TOWN RETAIL LEASE ("Lease") dated Ynac<h ..2..!(., 2010 is between
STW ELDRIDGE, LLC, an Iowa limited liability company ("Landlord") and McDONALD'S USA,
LLC, a Delaware limited liability company ("Tenant").
PRELIMINARY STATEMENTS
A.

Landlord (subject to Section 9(H)) is the owner of the real property described on
Exhibit A attached (the "Land") on which a multi-tenant building (the "Building") is or will
be located. The Land and the Building are depicted on the site plan attached hereto as
Exhibit B.

B.

Tenant wishes to lease a portion of the Building (the "Leased Space") for its use and to
have certain easements and rights on the remainder of the Land in conjunction with its
use of the Leased Space.

C.

Landlord is willing to lease the Leased Space to Tenant and to grant Tenant the
easements and rights described in this Lease.
TERMS OF THE AGREEMENT

In consideration of the mutual covenants contained in this Lease and for other good and
valuable consideration, the receipt and sufficiency of which are acknowiedged, Landlord and
Tenant agree and covenant as follows:
1.

Premises:
Landlord leases to Tenant, and Tenant leases from Landlord, the Leased
Space. The Leased Space consists of approximately 3,000 square feet of space as
depicted on the site plan attached as Exhibit B.
Landlord also grants to Tenant, appurtenant to the Leased Space: (i) a non-exclusive
easement over all of those portions of the Land shown on Exhibit B as parking and
driveway areas for ingress/egress and parking purposes for the benefit of Tenant, its
invitees, licensees, assigns, subtenants, employees and patrons; (ii) an exclusive
easement for the operation of a drive-thru as shown on Exhibit B, including but not
limited to, a drive-thru lane(s), directional signage, vehicle detector, concrete pad and
menu board; (iii) a non-exclusive easement for utilities, including but not limited to, gas,
water, electric, sanitary sewer, telephone and storm sewer, and a non-exclusive
easement to surface drain over and across the Land, if applicable; (iv) a license to use,
coupled with Tenant's easement, such utilities and related facilities supplied, installed or
otherwise controlled by Landlord; (v) an exclusive easement for the installation, repair,
maintenance, operation, replacement and renewal of the signage described in Article 8
and set forth on Exhibit D together with the necessary electrical conduit, all of which
signage must be located on the Land; (vi) a non-exclusive easement and the right to use

Document#: 730956-v10

the trash corral and dumpster shown on Exhibit B in common with Landlord for the
purpose of disposing of the trash from the Premises (as defined below); (vii) air rights
over the Land and the right to place antennae on the roof of the Building; provided,
however, that in so doing, Tenant shall not cause the invalidation of the roof warranty;
(viii) an exclusive easement for the benefit of Tenant, its invitees, licensees, assigns,
subtenants, employees and patrons for the use of those certain parking spaces
designated as "Exclusive Parking" on Exhibit B: (ix) an exclusive easement for the
benefit of Tenant, its invitees, licensees, assigns, subtenants, employees and patrons
over that certain portion of the Land (if any) depicted as "Patio Area" on Exhibit B to
install, use and maintain a patio seating area, including, but not limited to, tables, chairs,
umbrellas, railings, and trash receptacles; (x) an exclusive easement for and right to use
the dry storage shed which is part of the trash corral as depicted on the Plans (as
defined in Article 7); and (xi) landlord's easement rights granted to Landlord in those
certain easements designated as "Off-Site Ingress and Egress Easements" on Exhibit B
for ingress and egress purposes for the benefit of Tenant, its invitees, licensees,
assigns, subtenants, employees and patrons. The Leased Space and Patio Area, if
applicable, together with the easements and appurtenances described above, are
collectively referred to hereinafter as the "Premises". Any easements granted hereunder
shall terminate upon the termination of this Lease.

2.

Term:
A.

The term of this Lease shall commence on the date of final execution of this
Lease ("Lease Commencement Date") and shall end 10 years from the date
Tenant opens for business in the Leased Space (the "Primary Term").

B.

The Primary Term shall be automatically extended for 8 successive option
periods of 5 years each upon the same terms and conditions contained in this
Lease. No notice or act, whatsoever, shall be required by Tenant to extend the
tenm of this Lease. However, Tenant may elect to: i) terminate this Lease at the
end of the Primary Term or any option period, or ii) exercise all or any part of the
remaining options at the time of the notice, by sending written notice to Landlord
prior to the expiration of the Primary Term or then current option period,
whichever is applicable.

C.

When the Primary Term is ascertainable, Landlord and Tenant shall enter into a
supplement, suitable for recording, which shall specify the calendar date for the
expiration date of the Primary Term and for the date of commencement of rent. If
Landlord fails to execute and return the supplement within 15 days after delivery
to Landlord, Tenant may execute the supplement on behalf of Landlord and
Landlord appoints Tenant as its attorney-in-fact for such purpose.

D.

The options contained in this Article shall not be affected or terminated by the
receipt or rejection of any offers relating to other options, including, but not
limited to, rights of first refusal to purchase or lease, if any, contained in this
Lease. The word "Term" as used in this Lease shall include the Primary Term
and all option periods unless Tenant terminates this Lease.

Document#: 730958-v10

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