Lease Agreement Between Stan Checketts Properties, L.C. and Boomerang
This lease agreement is between Stan Checketts Properties, L.C. (landlord) and Boomerang (tenant). It outlines the terms for renting property, including rent payments, responsibilities for environmental compliance, and procedures for handling hazardous materials. The tenant must follow all environmental laws, cover any damages or cleanup costs related to hazardous materials, and provide documentation to the landlord if requested. The landlord can inspect the property to ensure compliance and recover costs if the tenant fails to meet obligations. The agreement also specifies increased rent during any holdover period after the lease ends.
Rent during such holdover period shan be the amount of Fixed Annual Rent in effect at the expiration of the Tenn plus twenty percent (20%).
| 24. | ENVIRONMENTAL |
| (a) For matters arising after the term of this lease, Tenant shall. at all times | |
and at its sole cost and expense, comply with all Environmental Laws, including but not limited to, those regulating any discharge by Tenant, its agents,employees, contractors orinvitees into the air, surface, water, sewers, soil or groundwater of any Hazardous Materials whether within or outside the Premises~ Landlord and its agents shall have the right, but not the duty, upon reasonable notice (no more than three (3) days) or without notice if in an emergency to inspect the Premises at any time to detennine whether Tenant is complying with the tenus ofthis Section. IfTenant is not in compliance with this Section, Landlord shall have the right to immediately enter upon the Premises and take whatever actions reasonably necessary to comply including, but not limited to, the removal from the Premises of any Hazardous Materials and the restoration of the Premises to a clean, neat, attractive, heaJthy and sanitary condition in compliance with Environmental Laws. Tenant shall pay aJl such costs incurred. by Landlord ten (10) days after receipt of a bill therefor plus fifteen percent (15%) for administration. Hazardous Materials includes, without limitation, any element, compound,.mixture, solution or substance which is designated pursuant to Section 102 of the Comprehensive Environmental Response Compensation and Liability Act (CCCERCLA',) 4OU.S.C. Section 9601 et seq.
(b) The Tenant shall be responsible for all damages and clean-up costs caused by Tenant resulting from the leaking, discharging or spilling of any gas, oil or petroleum products or other contaminants or Hazardous Materials on or into the Premises andlor on and/or into any adjoining premises and/or into the surrounding environment.
(c) The Tenant shall defend, indemnify and hold harmIess the Landlord of, from and against any and all suits, claims and causes of action and any loss, costs. expenses, fmes or penalties (including reasonable attorney's fees), and clean-up costs which the Landlord may incur or become liable to pay arising out ofthe breach by the Tenant of any of its obligations contained in Sections 't24{a)" and "24(b}" above.
(d) The Tenant, at the request ofthe Landlord, shall· submit to the Landlord, or shalJ make available for inspection and copying upon reasonable notice and at reasonable times, any and all of the documents prepared by the Tenant pursuant to any Environmental Laws or submitted to any governmental regulatory agency.
(e) Tenant shall, within ten (10) days of its receipt, provide Landlord with (i) copies of any notice of alleged violations or other claims relating to Environmental Laws, (ii) all
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