• December 28, 2016

Architect’s Fee Indemnity Agreement (Pre-Lease Execution)

Architect’s Fee Indemnity Agreement (Pre-Lease Execution)

January 1, 2017

LEASE (THE “LEASE”) FOR ABC RESTAURANT SYSTEMS, LLC (THE “TENANT”) WITH XYZCENTER, LLC (THE “LANDLORD”) FOR A PORTION OF THE 1st FLOOR AT YO YO YO AVENUE, HIP AND HAPPENING CLIFFS, NEW JERSEY (THE “PREMISES”)

Ladies & Gentlemen:

Thank you once again for your interest in Yo Yo Yo Avenue. I am taking the liberty of this correspondence on behalf of the Landlord.

Based on the drafts of the Lease, Landlord is to construct the buildout of the Premises pursuant to plans and drawings which are to be prepared by Landlord’s architect and engineer (collectively, the “Plans”). As per Tenant’s request and in an effort to accommodate Tenant’s urgent desire to move into the Premises, Landlord has agreed to have its architect prepare the Plans prior to the signing of a lease.

In consideration of Landlord’s agreement to prepare the Plans prior to the execution of the Lease, Tenant agrees to reimburse Landlord for the full costs of the Plans, in the event a lease for the Premises is not ultimately consummated between Landlord and Tenant for the Premises, up to a maximum of ________ THOUSAND DOLLARS ($_________), within five (5) business days of Landlord’s written demand. If a lease agreement is consummated, the full cost of the preparation of the Plans will be at Landlord’s cost and expense.

Please acknowledge our understanding by signing hereunder and forward to my office as soon as possible so that Landlord may commence the preparation of the Plans. This document may be executed in any number of identical counterparts and by scanned or facsimile signature, and each counterpart hereof shall be deemed to be an original instrument, but all counterparts hereof taken together shall constitute but a single instrument.

Best Regards,
________________________

AGREED AND ACCEPTED:

ABC RESTAURANT SYSTEMS, LLC

By: ______________________
Name:
Title:

__________________________
Ben Franklin, Individually

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