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Home My WebLink About0222~ \~ ISc~,~~~~ ~q- 51ti059 Puti.a THIS ME~IORANDUhI OF LEASE dated thia 3~"l day of ~~'~~~ , 19 ~~ , bettveen ~J. B. WIGCINS, .1R. , a resident of the State of (:eorRfa his Q aeepe~ebie~ having ~~bo-principal office at nne Piedmant Center, Suite 712, Atlanta, GeorRia 30363, (herein referred to as "Landlord"), and K MART CORPOftATION a~iichigan corporation ha~7ng its principal office at 3100 n'eat Big Beaver Road~ Troy, \'lichigan 48084, (herein referred to as ~~Tenant"), ~VITI`'ESSETH: That for and in consideration of the sum of One llollar ~$1.00} and other good and valuable considerations and the further consideration of the rents reserved and the covenants and conditions more particulazly set forth in a cert,~in lease between Landlord and Tenant and bearing e~~en date herewith~ Landlord and Tenant do hereby rnvenant, promise and agree as follows: nam~.aa 1. Landiord does Jemise unto Tenant and Tenant does take from Landlord for the term herein- P''""t"' after provided, and any extension thereof, the following property: Tenat:t's complete~i bui:ding er ~i++~e (designate~ K mart )~ together with site impruve~nents to be co:~tructed as specified in said lease by Landlord at its expense on the land described in Exhibit "A" and ciepictecl on Exhibit "~3" atLached hereto and made a part hereof~ and situated in the Ci ty of Port St. Lucie , County of St. I.ucie ~ State of Florida ; ~+id building er~+~~d~++g~ to be in the locations and of the dimensions depicted on said Exhibit "B". Landlord hereby gives and grants unto Tenant, in common with other3 entitieci thereto, includir.~ 1'enant's agents, employees, customers, licen~ and invitees the follo~ving licer~~, rights. privilege= and easements: the u~e of parking areas, common areas (including reat rooms and other facilit:es, if ar~y;~~ roadwa}•s, sidewalka and acce.sswa~s to public streets and highw•a~•s indicatc~c3 on said Ephibit "B", together with the use of any deli~ery or servicing areas adjoining Tenant's ~aid buil~lins; or designateci as such on Exhibit "B", K~hich areas ahall be adequate for the passage, u~iloading ar.d, i.s necessart~, turning around of trailer trucks and other commercial vehicles. Said land, completed buil~ing~ and site impm~•ements, together ~cith the iicen~es. rigt~.ts, pri~-ilege:. and easements herein seL forth, shall be hereinafter collectively.referred to as t}ie "demised prem~iaes". Term 2. The lease tc~rm shail c~mmence u~n the date of occuF~anc~~ br Tenant of sai~ buiidinKs, an~; <~:all terminate u~n ~uch date as shall beTwenty-Five ~-25- ~ year~ from the Iast da~• of the mn~th in w•hicti said date of occupancr b~• Tenant shali occur; pro~•ide~l, hoR•e~•er, Z'Ynant shali i1a~: e the option to extend the lea..~e term for Ten-------- ;-1~- l succea~it-e periai~ of Five------- ~ -5- ~ additional ~•ear; each. t~~~id;~g 3. I.andlord co~•enanis, during the ~,erio~i commencing witn the date of execction of tiie afore.~aid '~"" lease an~ ending upon the last da} of the iease term and an~- extetisioi; or rene~al thereof, that it ~s~ill not erect or construct an~• buildings or other structure3 upon lanci ciescribed in Exhibit "A", except as shown on Exnibit "B"; provided, howe~-er, in the event that the date of occupanc~- b~- Tenant of the demised premises shall not occur prior to such date as shall be se~•en !7j ti~~ars from rhe date of the aforesaid lease, then the restrictions imposed b~~ this Article shall cease and de±errrine and sha11 be of no Further force or effect. . s~g~. 4. Tt-~e demised premises shall be referred to b}• only svch designation as Ten~,nt may indiciate. Landlord expresslf recognizes that Lhe sen ice mark and trademark "K mart." is the ~•alid ar,d exciusive ~,roperty of Tenant, and Landlord agrees that it shall not either during the term of t'r.is ;ease or tnere- after directlj or indirectly cont.e::t the ~~alidit~- of ~aid mark "K mart", or an~• of Tenant's registratio~s },ertaining thereto in the L'nited States or else~vhere, nor adopt or usc suid mark or any ierm, ~sord, mark or designation which is in any aspect similar to the mark of Ter.ant. Lanrilord itirther a~ree~ !hat it will not at any time do or cause to be done an~~ act ar thing, directiti• or indirectl_:, contesting or in any way impairing or tending to impair any part of the Tenant's right, title anrl interest i^ the aforesai~i mark, and Landlord shall nct in ant• manner represent that it ha., ownership interest in the aforesaid mark or registrations therefor, and specifically acknowledge~ that an~ use thereof pars::ant ;,o this lease shall not create in Landlord any right, title or interest in the aforesaid mark. Tenant shall have the option to erect at its sole cost and expense upon an~ portior. oi t~;e ~3emi~c~: l~remises signs of such height and o+her dimensions as Tenant shall determine, and bearing ~uch iegend or inscription as Tenant shall determinel Tenant ghali have the option to utilize the lighting standard> in the parking lot for advertising purposes by attaching, or causing to be attacheci, signs a~~~-ertising an}~ and all productr and services as Tenant ahall elect~ ~ , sub_ject to compliance with all governmental regulations ! eooe ~:o. ar~•ez ~ ~ ~ ~ .,,,_, _ ~ ~~. .. ...._. , . - !i~( w se,.~-onoss u-z~~n gn~x~ S PacE ~Z ! - - .. . .,:~