Loading...
HomeMy WebLinkAboutRes 04-09 02/17/2009 RESOLUTION NO. 04-09 A RESOLUTION AUTHORIZING THE EXECUTION OF A LEASE AGREEMENT BETWEEN THE VILLAGE OF MOUNT PROSPECT AND PARKWAY BANK AND TRUST FOR PROPERTY LOCATED AT 1709-1711 WEST ALGONQUIN ROAD, MOUNT PROSPECT, ILLINOIS WHEREAS, the Village of Mount Prospect is desirous of entering into a Lease Agreement for up to five years with Parkway Bank and Trust for two (2) units located in the Crystal Court Shopping Center at 1709 and 1711 West Algonquin Road; and WHEREAS, such lease agreement will allow for the operation of the Village's Neighborhood Resource Center (NRC) that will benefit the citizens of Mount Prospect. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS, ACTING IN THE EXERCISE OF ITS HOME RULE POWERS: SECTION ONE: That the Board of Trustees of the Village of Mount Prospect do hereby authorize and direct the President to execute and the Village Clerk to attest the signature on the Agreement between the Village of Mount Prospect and Parkway Bank and Trust for the purpose of leasing two (2) units within the Crystal Court Shopping Center; 1709 and 1711 West Algonquin Road, Mount Prospect, Illinois, for the Village's Neighborhood Resource Center. Said Lease shall be for a period of 3 years with a subsequent two (2) year option if mutually agreed by both parties, as set forth in the Lease, a copy of which is attached and made a part of this Resolution as Exhibit "A." SECTION TWO: That this Resolution shall be in full force and effect from and after its passage and approval in the manner provided by law. AYES: Hoefert, Juracek, Korn, Matuszak, Polit, Zadel NAYS: None ABSENT: None PASSED and APPROVED this 17th day of February, 2009 ~~I:~~ Irvana K. Wilks .. Mayor ATTEST: ~ .~ ~7 . ~ " ~~dcr-h c7t? M. isa ngell t1 Village Clerk ." H :\CLKO\WI N\R ES\Lease ag rmtneig hborh ood resou rcecenterfeb2009 .doc · t LEASE FOR CRYSTAL COURT SHOPPING CENTER MOUNT PROSPECT, ILLINOIS ARTICLE 1. BASIC LEASE PROVISIONS AND ENUMERATION OF EXHIBITS Section 1.1 Basic Lease Provisions DATE: LANDLORD: Parkway Bank and Trust, not personally, but as Trustee under a Trust agreement dated November 2, 1998 and known as Trust No. 12122. ADDRESS OF LANDLORD: Crystal Court Shopping Center 4701 N. Cumberland Ave. Suite 27 Norridge, IL 60706 TENANT(S): Village of Mount Prospect ADDRESS OF TENANT(S): 50 South Emerson, Mount Prospect, IL 60056 TENANT'S TRADE NAME: Neighborhood Resource Center GUARANTOR(S): Village of Mount Prospect LEASED PREMISES: 1709-1711 West Algonquin Rd., Mount Prospect, IL 60056 FLOOR AREA: 2400 square feet, being the approximate rentable area of the Leased Premises PERMITTED USES: Offices and library sub-station INITIAL LEASE TERM: Three (3) years EXTENSION OPTION: Option to renew annually for two (2) additional years COMMENCEMENT DATE: March 1,2009 FIXED MINIMUM BASE RENT $24,000 annually ($1 O.OO/square foot of floor area) (subject to annual increase starting third year) INITIAL COMMON AREA PAYMENT: $4,560 annually ($1.90 per square foot of floor area) INITIAL ADMINISTRATIVE PAYMENT: $696 annually ($0.29 per square foot of floor area) INITIAL RESERVE FUND: $312 annually ($0.13 per square foot of floor area) INITIAL REAL ESTATE TAX PAYMENT: $9,912 annually ($4.13 per square foot of floor space) 2 . INITIAL INSURANCE PAYMENT: $576 annually ($0.24 per square foot of floor area) SECURITY DEPOSIT: NONE FIRST YEAR FIXED MINIMUM RENT PLUS CAM, ADMIN, RESERVE, RIE TAXES, INSURANCE: $40,056 ($3,338 /month) Section 1.2 Significance of Basic Lease Provisions Each reference in this lease to any of the basic lease provisions contained in Section 1.1 of this Article shall be deemed and construed to incorporate all of the terms provided under each basic lease prOVISIOn. Section 1.3 Enumeration of Exhibits The exhibits enumerated in this Section and attached to this Lease are incorporated in this Lease by this reference: Exhibit A: Site Plan of Crystal Court Shopping Center; Exhibit B: Description of Work; and Exhibit C: Sign Criteria. Section 1.4 Intentionallv Omitted ARTICLE II: LEASED PREMISES AND TERM Section 2.1 Landlord is the owner of the tract of land located in Mt. Prospect, Illinois commonly known as Crystal Court Shopping Center ("Landlord's Tract") which is depicted on Exhibit A. Landlord's Tract and any improvements and appurtenances constructed thereon are sometimes hereinafter referred to as the "Shopping Center". The description of the premises on Exhibit A does not constitute a representation, covenant or warranty by Landlord and Landlord reserves the right from time to time during the lease term to change the number and location of buildings, building dimensions, the number of floors in any of the buildings, store dimensions, the size, location and types of Common Areas and Facilities, and the identity and type of other stores and tenancies, and to construct kiosks, enclosed malls or courts, provided only that reasonable use and access to the Leased Premises shall not be materially impaired. Section 2.2 Leased Premises Landlord hereby leases and demises to Tenant, and Tenant hereby leases from Landlord, subject to and with the benefit of the provisions of this Lease, the Leased Premises. Section 2.3 Intentionally Left Blank Section 2.4 Condition of Leased Premises Tenant acknowledges that Tenant has examined the Leased premises prior to signing this Lease and is satisfied with condition thereof, except to the extent of the alterations, improvements, additions, repairs, decorations and cleaning, if any, described in Exhibit B attached hereto and made part hereof. Landlord certifies that premise meet all local, county, state, and federal requirements. By taking possession hereafter, Tenant accepts the Leased premises as being free from defects and in good, clean and sanitary order, condition and repair and agrees to keep the Leased premises in such condition. No agreements or representations of the Landlord to alter, improve, repair, decorate or clean the Leased Premises or the remainder of the Leased Premises, and no promise respecting the condition of the Leased Premises or the shopping center has been made by or on behalf of Landlord. 3 Section 2.5 Term of Lease The Lease term shall be for the period specified in Section 1.1 supra (the "Initial Lease Term"), unless otherwise terminated or extended as provided herein. The phrase "Lease Term" shall include the Initial Lease Term and any Renewal Terms or additional extensions as described below. Section 2.6 Extension/Renewal Option The Lease Term shall automatically renew for two (2) additional one (1) year terms (the "Renewal Term" or "Renewal Terms") on the same terms and conditions as set forth herein unless Tenant notifies Landlord, in writing, of Tenant's intention not to renew this Lease, at least ninety (90) days prior to the expiration of the Initial Term or any applicable Renewal Term. Provided tenant is not in default of this Lease, Landlord agrees to renegotiate and/or amend this Lease for an extension beyond the Renewal Terms. Not withstanding, Tenant must give Landlord 180 days notice of its desire for such an extension. Rent to be negotiated at that time. ARTICLE III CONSTRUCTION BY LANDLORD Section 3.1 Tenant accepts Leased Premises in "as is" condition. Landlord represents that all HV AC, plumbing and electrical systems are in good working order. Landlord certifies that the Premises meet all local, county, state, and federal requirements. ARTICLE IV METHOD OF RENT PAYMENT AND DETERMINATION OF RENT Section 4.1 Fixed Minimum Rent Tenant agrees to pay to Landlord, or to such other persons as Landlord may direct, without demand, at the address of Landlord or such place as Landlord may by notice in writing to Tenant from time to time direct, the following sums in United States Dollars at the following rates and times: (a) Fixed Minimum Rent in the amount specified in Section 1.1, payable in advance in equal, successive monthly installments commencing on the first day of the Lease Term for the first month of the Lease Term and thereafter on the first day of each calendar month of the Lease Term. If the Lease Term commences on a day other than the first day of the month, the monthly rent payment for the first month shall be prorated on the basis of one-thirtieth (1/30th), of said monthly payment for each day of said month that is included in the Lease Term; and (b) Fixed Minimum Rent shall be increased, effective on the second annual anniversary of the Commencement Date, i.e., the beginning of the third Lease Year, and subsequent such anniversaries, by an amount equal to the lesser of the average change during the prior 12 months in the Consumer Price Index for All Urban Consumers (CPI-U) for U.S. City average as published by the Bureau of Labor Statistics, U.S. Department of Labor, in the U.S. Department of Labor's Consumer Price Index for U.S. City Averages, or five percent (5%) of the most recent Fixed Minimum Rent. In the event that the CPI-U is a negative number, the Fixed Minimum Rent shall continue without change. (c) Until notified to the contrary by Landlord, Tenant shall pay all amounts payable under this Lease to Crystal Court Shopping Center. (d) Credit for Tenant's Buildout Costs. Upon execution of the Lease, Landlord shall credit Tenant's account in the amount of Fifteen Thousand Dollars ($15,000.00) to offset a portion of the Tenant's costs to buildout the Leased Premises, i.e., the ADA bathroom improvements, HV AC replacement and fire suppression sprinkler system (the "Improvements"). Said credit shall be deducted from rent due. Tenant agrees that, upon the termination of the Lease, Landlord shall retain title and possession of such Improvements. If for 4 any reason, other than Landlord's breach of the Lease, Tenant does not renew this Lease for the 1 st and 2nd Renewal Terms (years 4 and 5), then Tenant will reimburse Landlord for half of the $15,000 buildout credit in the total amount of Seven Thousand and Five Hundred Dollars ($7,500.00). (e) Credit for Tenant's HV AC replacement. Tenant will install a new HV AC system, including ductwork and controls, to heat, ventilate and cool the Leased Premises as one (1) standalone office facility. In the event that the Tenant installs two (2) separate rooftop heating/cooling units ("HV AC Units"), instead of one (1) as Tenant proposes, Landlord agrees to pay to the Tenant the difference between the cost of one (1) HV AC Unit and two (2) HV AC Units, including all additional labor costs, upon the Tenant's presentation to Landlord of a proposal for the costs to purchase and install such Units along with a paid invoice for the installation of two (2) HV AC Units. Payment to Tenant shall be credited to Tenant's account and deducted from rent due. Landlord shall not be entitled to reimbursement for said credit in the event that the Lease is not renewed for the 1 st and 2nd Renewal Terms. Section 4.2 Commencement Date; Definition of Lease Year The Commencement Date is the date set forth in Section 1.1. The term "Lease Year" means a period of twelve (12) consecutive calendar months, except that the first Lease Year shall commence on the first day of the next month immediately following the Commencement Date, unless the Commencement Date is the first of the calendar month, in which case the first Lease Year shall commence on the Commencement Date, and shall end on the date prior to the following anniversary of the Commencement Date. Each succeeding Lease Year shall commence upon the following anniversary of the Commencement Date. Section 4.3 DelinQuencv Charge for Late Rent Payment To each and every payment of Rent which is not received by Landlord within five (5) days after the same is due, there shall be added a delinquency charge equal to ten percent (10%) of account balance, payable immediately without the necessity of notice or demand by Landlord as Additional Rent hereunder. Any delinquency charge imposed by Landlord is in addition to the Landlord's right to treat Tenant in default in accordance with the provisions of Article XI, and shall be cumulative of all of Landlord's remedies. Any delinquency charge due hereunder shall constitute a default in the payment of Rent by Tenant in accordance with Section 11.1. Section 4.4 Definition of Rent The term "Rent" means all amount due Landlord from Tenant under or pursuant to this Lease including without limitation, Fixed Minimum Rent, amounts due on account of Real Estate Taxes, Common Area Maintenance, insurance premiums and amounts arising from any obligation of Tenant to reimburse or indemnify or pay liquidated damages to Landlord under any provision of this Lease. ARTICLE V COMMON AREAS AND FACILITIES Section 5.1 Common Areas and Facilities Landlord shall make available from time to time such areas and facilities of common benefit to the tenants and occupants of the Landlord's Tract as Landlord shall deem appropriate. Landlord shall, subject to the other provisions of this Lease, operate, manage, equip, heat, ventilate, cool, light, insure, secure, repair and maintain the common areas and facilities for their intended purposes in such manner as Landlord shall, in its sole discretion, determine, and may from time to time change the size, location, use and nature of any common area and facility, sell or lease any portion thereof, or assign the exclusive use thereof to one or more tenants, and may make installations therein and move and remove such installations, including the installation of kiosks, enclosed malls or courts, all except to the extent that such changes interfere with the tenant's use of the Leased Premises. 5 Section 5.2 Use of Common Area Tenant and its permitted concessionaires, officers, employees, agents, customers and invitees, shall have the non-exclusive right, in common with Landlord and all others to whom Landlord has or may hereafter grant rights, to use the common areas as designated from time to time by Landlord, subject to such reasonable regulations as Landlord may, from time to time, impose including the designation of specific areas in which cars owned by Tenant, its permitted concessionaires, officers, employees and agents, must be parked. Tenant agrees to abide by such regulations and to use its best efforts to cause its permitted concessionaires, officers, employees, agents, customers and invitees to conform thereto. Landlord may, at any time, close temporarily any common area to make repairs or changes to prevent the equation of public rights in such area or to discourage non customer parking, and may do such other acts in and to the common areas as, in its judgment, may be desirable to improve the convenience thereof. Tenant shall not, at any time, interfere with the rights of Landlord and other tenants, and their permitted concessionaires, officers, employees, agents, customers and invitees, to use any part of the parking areas and other common areas. Landlord reserves the right to grant to other tenants and third persons such exclusive and non-exclusive rights in the common areas as, from time to time, the Landlord deems appropriate. In no event shall Landlord restrict Tenant's use of the Leased Premises by its actions under this Section 5.2. Tenant and its officers, employees, and agents shall have the non-exclusive right to install or have installed upon the Leased Premises and the common areas, including the parking lot and rear alley, fiber optic or similar cable, for communications purposes. Said cable may be installed in or above ground in the common areas. All costs associated with said installation shall be the sole responsibility of Tenant. Section 5.3 Common Area Maintenance Payment Each Lease Year during the Lease Term, and during any period that Tenant shall transact business in the Leased Premises prior to the Commencement Date, Tenant shall pay to Landlord on account of Tenant's obligation under Section 5.5, the Common Area Maintenance Payment, which shall be payable in equal monthly installments on the first day of every calendar month during the Lease Term and a pro-rata sum for the partial month, if any, preceding the first Lease Year, payable on the Commencement Date. The Initial Common Area Maintenance Payment is estimated at $1.90/square feet for the first Lease Year. Following each calendar year, the Common Area Maintenance Payment for each calendar year or partial calendar year, shall be determined as follows: Landlord's actual costs (incurred), as defined in Section 5.5 hereof, for the preceding calendar year, shall be multiplied by a factor of 1.00, and product thereof shall be the Common Area Maintenance Payment for the forthcoming calendar year, which shall be payable retroactively to the first day of such calendar year. In addition, as soon as practicable after January 1 in each calendar year (other than the first calendar year) during the Lease Term, and in the year next following the year in which this Lease terminates, Landlord shall deliver to Tenant a statement setting forth any additional costs due for the Common Area Maintenance Payment for the immediately preceding calendar year. Any amount paid by Tenant which exceeds the true amount due shall be credited on the next succeeding payment due pursuant to this Section, or, upon the expiration or termination of the Lease, reimbursed to Tenant within ten (10) days thereof. If Tenant has paid less than the amount due, Tenant shall pay the difference within thirty (30) days of receipt of notice from Landlord. This covenant shall survive the expiration or earlier termination of the Lease. If the Lease Term shall begin or end other than on the first or last day of a calendar year, such charges shall be billed and adjusted on the basis of such faction of a calendar year Section 5.4 Intentionally Omitted 6 Section 5.5 Costs of Common Areas and Facilities Tenant's payment of the Common Area Maintenance Payment, as additional rent, shall be based upon "Tenant's Pro-Rata Share" (as such term's defined in Section 12.1 of this Lease) of certain actual costs and expenses incurred by Landlord during the preceding calendar year ("Common Area Maintenance" or "CAM") on account of Landlord's equipping, policing (if and to the extent provided by Landlord), protecting, , heating, cooling, lighting, ventilating, repairing, and maintaining the common areas and facilities in the Shopping Center, including roofs and fire safety devices adjacent to the Landlord's Tract, during that preceding calendar year. Such costs and expenses shall include, but not be limited to maintaining any enclosed common areas as shall be required in Landlord's judgment to preserve the utility thereof in the same condition and status as such areas were at the time of completion of the original construction and installation thereof, security, and fire protection on Landlord's Tract and the public ways and other structural and non-structural items, cleaning, repairing and maintaining interior and exterior walls, soffits, fascia, canopies and other structural and non-structural items in the Shopping Center, removal of rubbish and other refuse; pedestrian traffic direction and control; line painting; exterior illumination of buildings and common areas and illumination and maintenance of signs, whether or not the lights or signs are located on Landlord's Tract; dirt, debris, snow and ice clearance; planting, maintaining, replanting and replacing flowers and other landscaping; water and sewage charges; fees for required licenses and permits; supplies and hand tools; operation of loudspeakers and any other equipment supplying music to the common areas; all charges for utility services for the common areas, including maintenance of lighting fixtures (including the cost of light bulbs and electric current); reasonable depreciation of, or rents paid for the leasing of, equipment used in the operation of the common areas. Costs of equipment properly chargeable to Landlord's capital account and depreciation of the original costs of constructing the common areas and facilities shall be excluded. Also excluded are a) ground rents, principal payments or any interest expense on any loans secured by mortgages placed on the Shopping Center or underlying land (or a leasehold interest therein); b) leasing and brokerage expenses and commissions and other costs or concessions related to Leased Premises in the Shopping Center; c) the cost of any work or services performed in any instance for any tenant (including Tenant) at the cost of that tenant; d) franchise or income taxes imposed on Landlord; e) capital improvements; f) salaries of Landlord's or its manager's executive personnel; g) all other expenses for which Landlord is entitled to receive reimbursement; h) the cost oflegal, accounting and other professional services incurred by landlord for reasons not in connection with the day-to-day operation of the Shopping Center; i) the cost of offices of Landlord that are not part of the offices of the Shopping Center; j) costs of relocating tenants; k) costs associated with the cure or correction oflatent defects; 1) costs associated with the correction or abatement of environmental hazards on the land, in the building or in the Leased Premises; m) wages for concessionaires employed by Landlord; and n) fees for management of the Shopping Center in excess of market rates for building management. Section 5.6 Reserve Fund and Administrative Charge. Tenant shall also pay each month along with its Common Area Maintenance_Payment installments, an amount necessary to maintain an appropriate reserve fund and an Administrative Charge equal to one- twelfth (1/12) of fifteen percent (15%) of the CAM as the Administrative Charge and a reserve fund equal to one-twelfth (1/2) of seven percent (7%) of the CAM as the Reserve Fund. The Administrative Charge and reserve fund fee shall be adjusted as CAM changes pursuant to Section 5.3. Any amount due from Tenant in excess of that paid monthly shall be payable within thirty (30) days following the rendition of Landlord's statement therefore. Any amount paid by Tenant which exceeds the true amount due shall be credited on the next succeeding payment due pursuant to this Section, or, upon the expiration or termination of the Lease, reimbursed to Tenant within ten (10) days thereof. This obligation shall survive the expiration or earlier termination of the Lease Term. Administrative charges shall be used for the administration of the Shopping Center. The Reserve Fund shall be used for improvements to the Shopping Center that are not performed annually, such as asphalt seal coating and repair, parking lot striping, and painting. Neither the Administrative Charge, nor the Reserve Fund shall apply to any costs or fees subject to payment as CAM. 7 CAM, Administrative Charges and the Reserve Fund shall not apply to replacement or reconstruction of roofs, or to driveway/parking area replacement or reconstruction. ARTICLE VI UTILITY SERVICE Section 6.1 Utilities Tenant agrees that, throughout the Lease Term, it will pay for and provide its own heat, air conditioning, gas, electricity and all other utilities, other than water and sewage, Landlord shall provide the water and sewage services to the Leased Premises through a joint meter for all tenants on the Landlord's Tract. Tenant shall be solely responsible for and promptly pay as additional rent all charges for water and sewage services used or consumed in the Leased Premises. Tenant agrees to purchase and pay for the same in accordance with a separate Subscriber's Service Agreement to be negotiated and entered into between Tenant and Landlord. The rates to be charged by Landlord shall not exceed the rates that would be charged to the Tenant were the same services furnished directly to the Leased Premises by governmental units or utility companies. In no event shall Landlord be liable for an interruption or failure in the supply of any such utilities to the Leased Premises. Section 6.2 Agencv or Independent Contractor Any utility services, which Landlord is required or elects to furnish, pursuant to this Article, may be furnished by any agent employed by Landlord or by an Independent Contractor. ARTICLE VII. LANDLORD'S ADDITIONAL COVENANTS. Section 7.1 Repairs bv Landlord Landlord covenants to keep the common areas of the Shopping Center, including all walkways and parking areas, the foundations of the Leased Premises and the structural soundness of the concrete floors, roof and exterior walls of the Leased Premises (as same as defined in Article VIII, subsection 8.1 f), as well as the soffits, fascia, canopies and other structural and non-structural items in the Shopping Center, in good order, repair and condition, unless any necessary work is required because of damage caused by any act, omission or negligence of Tenant, any permitted concessionaire of Tenant or the respective employees, agents, invitees, licensees or contractors of Tenant. Landlord shall not be required to commence any such repair until a reasonable time after written notice from Tenant that the same is necessary. The provisions of this Section7.1 shall not apply in the case of damage or destruction by fire or other casualty or a taking under power of eminent domain, in which events the obligations of Landlord shall be controlled by Article X. Except as provided in this Section 7.1 and Section 7.2, Landlord shall not be obligated to make repairs, replacements or improvements of any kind upon the Leased Premises, or any contents, equipment, facilities or fixtures contained therein, which shall be the responsibility of Tenant as provided in Article VI and Subsections 8.1 F and G, except to the extent that damage is the result of Landlord's failure to maintain in good order, repair and condition as provided herein. Section 7.2 Quiet Enjovment Landlord covenants that Tenant, on paying the Rent and performing Tenant's obligations in this Lease, shall peacefully and quietly have, hold and enjoy the Leased Premises throughout the Lease Term or until it is terminated as in this Lease provided. Section 7.3 Landlord's Insurance Landlord shall insure the Premises and the Building on an "all risks" of physical loss or damage basis, in an amount equivalent amount to the full replacement cost of the Building and Premises, and shall maintain comprehensive general liability insurance as is customarily maintained by landlords of similar buildings in the Mt. Prospect, Illinois area. 8 Section 7.4 Landlord's Indemnification. Landlord agrees to hold harmless and indemnify Tenant, its beneficiaries and agents, from any and all injury, loss, claims or damage to any person or property while on the Leased Premises or any other part of the Shopping Center, occasioned by an act or omission of Landlord, or anyone claiming by or through Landlord, to the extent not occasioned by an act or omission of Tenants or its agent. ARTICLE VIII TENANT'S ADDITIONAL COVENANTS Section 8.1 Covenants Tenant covenants at its expense at all times during the Lease Term and such further time as Tenant occupies the Leased Premises or any part thereof: A. To perform promptly all of the obligations of Tenant set forth in this Lease, and to pay when due the Rent without notice and without any set-offs unless such set-offs are specifically provided herein. B. (IF APPLICABLE) To use the Leased Premises only for the Permitted Uses; to operate its business in the Leased Premises under Tenant's Trade Name or such other Trade Name as Tenant shall reasonably assume; to conduct its business at all times in a high grade and reputable manner and to help establish and maintain a high reputation for the Shopping Center, and refrain from conducting any "going out of business" or bankruptcy or similar distress sales. C. Intentionally left blank. D. Intentionally left blank. E. To store in the Leased Premises only such merchandise as may be related to its Permitted Uses; to store all trash and refuse in adequate containers within the Leased Premises which Tenant shall maintain in a neat and clean condition and so as not to be visible to members of the public and so as not to create any health or fire hazard, and to attend to the daily disposal thereof in the manner designated by Landlord; to keep all drains inside the Leased Premises clean; to receive and deliver goods and merchandise only in the manner and at such times and in such areas as may be designated by Landlord, and to conform to all rules and regulations which Landlord may make in the management and use of the Leased Premises, requiring such conformance by Tenant's employees. F. (i) To take good care of the Leased Premises and the pipes, plumbing, glass, store-fronts, electric wiring, air conditioning and heating equipment, boilers, motors, engines, tanks, machinery, fixtures, appliances and appurtenances belonging thereto and installed for use in connection with the Leased Premises and to refrain from overloading the floors; to make as and when needed by contractors or mechanics approved by Landlord, all repairs in or about the Leased Premises and in and to all such equipment, fixtures, appliances and appurtenances necessary to keep the same in good order and condition. The interior of the Leased Premises shall be painted or otherwise decorated (including, but not limited to, floor and wall coverings) by Tenant as and when reasonably necessary as determined by Landlord, but at least every five (5) Lease Years. All repairs made by Tenant shall be equal in quality and class to the original work. When used in this Article and Article VIII, the term "repairs" shall include all replacements, renewals, alterations, additions and betterments. As used in this Article and Article VIII, the expression "exterior walls" shall not be deemed to include store front or store fronts, plate glass, window cases, or window frames, doors or door frames. Landlord shall be under no obligation to make any repairs, alterations, renewals, replacements or improvements to and upon the Leased Premises or the mechanical equipment exclusively serving the Leased Premises at any time except as in this Lease expressly otherwise provided. 9 (ii). To keep in effect, at its sole cost and expense, a maintenance agreement with a contractor for periodic (at least semiannual) servicing and repair of the heating, ventilating and air conditioning system ("HV AC") serving the Leased Premises, which shall include, without limitation, the lubrication of all parts, the inspection of all cooling towers, the inspection and correction of all fluid levels, the replacement of all belts, bearings and filters, and other services deemed prudent by Landlord for preventative maintenance, subject to any manufacturers' warranty for installation or maintenance. Tenant shall provide Landlord with semiannual reports not later than October 15 and April 15 of each Lease Year, summarizing the condition of the HV AC, the maintenance performed on the HV AC during the period since the last report and the recommendations for the maintenance to be performed for the succeeding six month period. Tenant's failure to deliver such semiannual reports or to have the recommended maintenance or repairs performed within seven (7) days following written notice of such failure from Landlord shall constitute a default by Tenant thereby entitling Landlord to the remedies pursuant to Sections 11.1 and 11.3 hereof. Landlord shall supply all mechanical warranties to tenant. G (i). To promptly comply with all present and future laws, ordinances, orders, rules, regulations and requirements (collectively hereinafter referred to as "Orders") of all federal, state, municipal and local governments, departments, commissions, boards and officers, and all Orders of Landlord's and Tenant's insurance carriers, whether foreseen or unforeseen, ordinary as well as extraordinary, which may be applicable to the Lease Premises and to all or any parts thereof and/or any and all facilities used in connection therewith and the sidewalks, streets, areaways, passageways, curbs and vaults, if any, adjoining the Leased Premises, or the use or manners of use of the Leased Premises, or the owners, tenants or occupants thereof, whether or not any such Order shall reasonably interfere with the use and enjoyment of the Leased Premises. Tenant shall not be required to make structural repairs or alterations unless it has by its use of the Leased Premises or method of operations therein violated any such Orders or unless such repairs or alterations are necessitated by Tenant's special needs. (ii) To make all repairs, alterations, additions or replacements to the Leased Premises required by any Order because of any special needs of Tenant, or by reason of Tenant's use or occupancy of the Leased Premises or otherwise, including, without limitation, the updating of all mechanical and sprinkler and fire alarm systems so that they will be in compliance with applicable codes; to keep the Leased Premises equipped with all safety appliances so required because of such use; to procure any licenses and permits required for any such use, and to comply with all Orders now in effect or hereinafter enacted during the Lease Term. (iii) To promptly give notice to Landlord of any notice of Tenant's violation of any Orderreceived by Tenant. Without diminishing the obligation of Tenant, if Tenant shall, at any time after five (5) days notice by Landlord, fail or neglect to comply, or commence to comply as expeditiously as is reasonably feasible, with any Order referred to in Section G(i) and, if a stay is necessary, shall have failed to obtain a stay or continuance thereof, Landlord shall be at liberty to comply therewith, and all expenses consequent thereof shall be borne and paid by Tenant, and upon Tenant's failure so to pay, Landlord may pay the same, and any payments so made by Landlord, together with interest thereon at ten percent (10%) per annum from the date of payment, shall immediately become due and payable by Tenant as additional rent. H. To exterminate all insects or vermin, if the same infest the Leased Premises. I. To pay promptly when due the entire cost of any work in the Leased Premises undertaken by Tenant so that the Leased Premises shall at all times be free of liens for labor and materials, to procure and provide copies to Landlord of all necessary permits before undertaking such work; to do all of such work in a good and workmanlike manner, employing materials of good quality; to procure Builder's Risk insurance whenever appropriate in amounts and with companies agreed upon by Tenant and Landlord, to perform such work only with contractors, plans and specifications previously approved in writing by Landlord and to comply with the requirements of Exhibits Band C ; and to save Landlord and Landlord's beneficiaries and 10 . agents harmless and indemnified from all injury, loss, claims or damage to any person or property occasioned by or growing out of such work, except to the extent occasioned by or growing out of any act or omission of Landlord or Landlord's agents. J. To save Landlord, Landlord's beneficiaries and agents and their respective successors and assigns harmless and indemnified from all injury, loss, claims or damage to any person or property while on the Leased Premises or any other part of the Shopping Center occasioned by an act or omission of Tenant, or of anyone claiming by or through Tenant, to the extent not occasioned by an act or omission of Landlord or its agent, and to maintain, public liability insurance, insuring Landlord, Landlord's mortgagees, beneficiaries and agents, as their interests may appear, against all claims, demands, or actions for injury to or death of any one person in an amount of not less than $1,000,000 and for injury to or death of more than one person in anyone accident in an amount of not less than $1,000,000 and for damage to property in an amount of not less than $500,000 made by or on behalf of any person or corporation, arising from, related to or connected with the conduct and operation of Tenant's business in the Leased Premises, including anywhere upon Landlord's Tract and, in addition, and in like amounts, covering tenant's contractual liability under the aforesaid hold harmless clause; to maintain plate glass insurance covering all exterior plate glass in the Leased Premises and fire insurance with such reasonable extended coverage endorsements as Landlord may, from time to time require, adequate to cover the replacement cost of all of Tenant's stock in trade, fixtures, furniture, furnishings, floor coverings and equipment in the Leased Premises. All of said insurance provide that it will not be subject to cancellation, termination or change except after at least thirty (30) days prior written notice to Landlord. Landlord agrees that the Tenant's self-insurance coverage is satisfactory form and amount of insurance. The policies or duly executed certificates for the same (which certificates shall evidence the insurer's waiver of subrogation) together with satisfactory evidence of the payment of premiums thereon, shall be deposited with Landlord no later than the day Tenant begins Tenant's Work, and upon renewals of such policies, not less than thirty (30) days prior to the expiration of the term of such coverage. In the event Tenant's occupancy or operation causes any increase of premium for the fire and extended coverage and boiler and/or casualty rates on the Leased Premises or Shopping Center or any part thereof above the rate for the least hazardous type of occupancy legally permitted in the Leased Premises, Tenant shall pay the additional premium on the fire, boiler and/or casualty insurance policies by reason thereof. Tenant shall also pay, in such event, any additional premium on the insurance policy that may be carried by Landlord for its protection against loss through fire. In determining whether increased premiums are the result of Tenant's use of the leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises showing various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises. Bills for such additional premiums shall be rendered by Landlord to Tenant at such times as Landlord may elect, and shall be due from Tenant within ten (10) days following the billing thereof, and the amount thereof shall be deemed to be, and be paid as, Additional Rent. K. To waive all claims for damage to person or property sustained by Tenant resulting from any accident or occurrence in or upon the Leased Premises or the building of which they shall be a part, including, but not limited to, claims for damage resulting from: (1) any equipment or appurtenances becoming out of repair; (2) Landlord's failure to keep said building or the Leased Premises in repair, whether or not Landlord has assumed the obligation therefore; (3) injury done or occasioned by wind, water, or other natural element; (4) any defect in or failure of plumbing, heating, or air conditioning equipment, electric wiring or installation thereof, gas water and steam pipes, stairs, mezzanines, railings, or walks; (5) broken glass; (6) the backing up of any sewer pipe or down spout; (7) the bursting, leaking or running of any tank, tub, washstand, water closet, wash pipe, drain or any other pipe or tank in, upon or about such building or Leased Premises; (8) the escape of steam or hot water (it being agreed that all of the foregoing are under the control of the Tenant); (9) water, snow or ice being upon or coming through the roof, skylight, trapdoor, stairs, walks or any other 11 . place upon or near such building or the Leased Premises or otherwise; (10) the falling of any fixtures, plaster or stucco, all except to the extent resulting from the acts or omissions of Landlord or its agents. L. To permit Landlord, Landlord's beneficiaries and agents to enter the Leased Premises at reasonable times for the purpose of inspecting same, making repairs, additions or alterations thereto or to the building in which the same are located and showing the Leased Premises to prospective purchasers, lenders and tenants. M. To surrender, at the termination of this Lease, the Leased Premises in a broom-clean condition, free of debris and in the same condition (subject to the removals hereinafter required) as the Leased Premises were on the date Tenant opened the Leased Premises for business to the public, reasonable wear and tear excepted with all holes in walls patched, taped and sanded, ready for paint and ready for paint, and to surrender all keys for the Leased Premises to Landlord at the place then fixed for the payment of rent, and to inform Landlord of all combinations on locks, safes and vaults, if any, in the Leased Premises; to remove, during the last thirty (30) days of the Lease Term, all of Tenant's trade fixtures, and to the extent required by Landlord by written notice, any other installations, alterations, improvements (excluding the Improvements referred to in Section 4.1(d)), wall coverings or floor coverings, and any adhesives relating thereto installed by Tenant before surrendering the Leased Premises as aforesaid and to repair any damage to the Leased Premises or the Shopping Center caused thereby. Any alterations, changes, additions and improvements (specifically including, by way of example, light fixtures and heating and air conditioning equipment) shall immediately upon the termination of this Lease, at Landlord's option, become Landlord's property, be considered part of the Leased Premises, and shall not be removed at or prior to the end of the Lease Term without Landlord's written consent unless Landlord requests Tenant to remove same. If Tenant fails to remove any shelving, decorations, equipment, trade fixtures or personal property from the Leased Premises upon the end of the Lease Term, at Landlord's option they shall become Landlord's property and Tenant shall pay for the repair of any damage done to the Leased Premises or Shopping Center and the costs incurred resulting from the removal of the same. N. To remove, at the termination of this Lease, Tenant's sign from the fascia above the storefront of the Leased Premises, and to reimburse Landlord for the cost incurred by Landlord to repair, restore, repaint and/or re-stain the fascia necessitated by the removal of such sign. The under canopy soft sign (other than Tenant's removable name panels) shall remain and upon termination of the Lease shall become the property of Landlord. o. To execute and deliver whatever instruments may be required to evidence that this Lease and the rights and interests of Tenant under this Lease are and shall be subject and subordinate to any mortgages or trust deeds which Landlord may place upon the Landlord's Tract and the Leased Premises, and to any advances made thereunder, and to the interest thereon, and all extensions thereof. In the event Tenant fails to execute and deliver such instruments within ten (l0) days after demand in writing. Tenant does hereby make, constitute and irrevocably appoint Landlord as its attorney in fact and in its name, place and stead so to do without prejudice to Landlord's remedies under this Lease which are cumulative. Any mortgagee or trustee may elect also to give the rights and interest of Tenant under this Lease priority over the lien of its mortgage or trust deed. Further, if any financing institution requires any non-substantive modifications of the terms and provisions of this Lease (as determined by the Tenant) as a condition to such financing as Landlord may desire, then Tenant shall execute and deliver such modification as may be required for such purposes, and in the event Tenant fails to do so within ten (10) days after demand in writing, Tenant does hereby make, constitute and irrevocably appoint Landlord as its attorney in fact and in its name, place and stead so to do without prejudice to Landlord's remedies under this Lease which are cumulative. Such modification or modifications shall not affect any of the provisions of this Lease relating to the amount of Minimum Rent reserved, reducing the purposes for which the Leased Premises may be used, the size and/or location of the Leased Premises, the duration or Commencement Date of the Lease Term, or reducing the improvements to be made by Landlord to the Leased Premises prior to delivery of possession, if any. 12 P. Intentionally omitted. Q. To pay the Landlord as additional rent during the Lease Term, Tenant's Pro-Rata Share, as described in Section 12.1, of the Real Estate Taxes (to the extent not paid pursuant to Article V, supra) actually paid by Landlord during the calendar year of the respective Lease Term, (first calendar year (2009) being estimated at $4.13 per square foot of the Lease Premises) and any renewal or extension thereof, including any period during which Tenant shall transact business in the Leased Premises but not prior to the Commencement Date. The term "Real Estate Taxes" shall include all real estate taxes, assessments, water and sewer rents (except water meter charges and sewer rent based thereon) and other governmental impositions and charges of every kind and nature whatsoever, extraordinary as well as ordinary, foreseen and unforeseen, levied or assessed on or with respect to, or that become payable because of or in connection with the ownership, leasing, management control, or operation of the Shopping Center, all costs incurred by Landlord in contesting or negotiating the same with governmental authorities, plus an administration fee equal to five (5%) percent of the amount of such costs incurred by Landlord. Real Estate Taxes shall not include any inheritance, estate, succession, transfer, gift, franchise, corporation, income or profit tax or capital levy that is or may be imposed upon Landlord; provided, however, that, if at any time during the Lease Term the methods of taxation prevailing at the commencement of the Lease Term shall be altered so that, in lieu of or as a substitute for the whole or any part of the taxes now levied, assessed or imposed on real estate as such, there shall be levied, assessed or imposed (a) a tax on the rents received from such real estate or (b) a license fee measured by the rents receivable by Landlord from the shopping center or any portion thereof, or (c) a tax or license fee imposed upon Landlord which is otherwise measured by or based in whole or in part upon the shopping center or any portion thereof, then the same shall be included in the computation of Real Estate Taxes thereunder,. Tenant agrees to pay its Pro-Rata Share of Real Estate Taxes to the Landlord in monthly payments of one- twelfth (1/12) of the "Initial Real Estate Tax Payment" (as such term is herein defined) on the first day of each calendar month commencing upon the Commencement Date as its estimated payment of Real Estate Taxes for the first calendar year (2009) or portion thereof included in the Lease Term, said payments totaling $4.13 per square foot of the Leased Premises (the "Initial Real Estate Tax Payment"). For each calendar year thereafter, Tenant shall pay Landlord monthly one-twelfth (1/12) of the amount of the Tenant's Pro-Rata Share of Landlord's actual real estate tax liability for the preceding calendar year, but in no event less than the Initial Real Estate Tax Payment. In addition, as soon as practicable after January 1 in each year during the Lease Term, and in the year next following the year in which this Lease terminates, Landlord shall deliver to Tenant a statement setting forth any additional rent due for Real Estate Taxes for the immediately preceding calendar year. Any amount paid by Tenant which exceeds the true amount due shall be credited on the next succeeding payment due pursuant to this Section, or, upon the expiration or termination of the Lease, reimbursed to Tenant within ten (10) days thereof. If Tenant has paid less than the amount due, Tenant shall pay the difference within thirty (30) days of receipt of notice from Landlord. This covenant shall survive the expiration or earlier termination of the Lease. If the Lease Term shall begin or end other than on the first or last day of a calendar year, such charges shall be billed and adjusted on the basis of such fraction of a calendar year. Should the taxing authority include in such real estate taxes, machinery, equipment, fixtures, inventory or other personal property or assets of Tenant, then Tenant shall pay the entire real estate taxes for such items. Notwithstanding anything to the contrary herein, after receipt by Tenant of a statement describing the basis for additional rent for Real Estate Taxes, if Tenant has cause to believe that Landlord's statement of additional rent due is incorrect, Tenant shall notify Landlord in writing within 10 days after receipt of that statement. Tenant may, through its employees, representatives and accountants, inspect, audit and copy 13 Landlord's books and records, as they apply to such additional rent due to verify Landlord's statement of the amount due. Landlord shall cooperate with Tenant in any verification effort and shall provide Tenant with such paid receipts and vouchers as Tenant may reasonably request evidencing payments made. Tenant's obligations to pay such additional rent shall be deferred for the lesser of the period necessary to make such verification or 45 days from the date ofreceipt by Tenant of Landlord's statement of additional rent. (Q-I) To pay Landlord, as additional rent, Tenant's Pro-Rata Share of premiums for fire and extended coverage, vandalism, malicious mischief, liability and rental insurance (with all reasonable endorsements deemed advisable by Landlord) paid periodically by Landlord for the respective Lease and any Renewal Terms and during and for any period prior to the Lease Term in which Tenant is transacting business in the Leased Premises (the "Insurance Premium"). Tenant agrees to pay to the Landlord one-twelfth (1/12) of the Insurance Premium on the first day of each calendar month commencing upon the Commencement Date as its Pro-Rata Share of insurance for the first calendar year or portion thereof included in the Lease Term, first calendar year (2009) not to exceed $0.24 per sq. ft. of the Leased Premises (the "Initial Insurance Premium"), and, thereafter, Tenant shall pay Landlord monthly one-twelfth(1/12) of the amount of the Tenant's Pro-Rata Share of the Insurance Premium for the preceding calendar year, but in no event less than the Initial Insurance Premium. R. To remain fully obligated under this Lease notwithstanding any assignment or sublease or any indulgence granted by Landlord to Tenant or to any assignee or sublease, but nothing contained in this subparagraph shall be construed to permit any assignment or sublease by Tenant. Notwithstanding anything to the contrary in this Lease, Landlord acknowledges and consents to Tenant's sharing of space in the Leased Premises with the Mount Prospect Public Library, as a sublessee or licensee, and sharing of space with other entities as a license, for purposes of Tenant's Neighborhood Resource Center. S. (WHEN AND IF NECESSARY) To promptly furnish Landlord, from time to time, financial statements in detail satisfactory to Landlord, reflecting the current financial condition of Tenant under this Lease, and if Tenant is a corporation, a current roster of stock ownership certified by the corporate secretary, whenever requested by Landlord. T. To observe and comply with the requirements of all policies of public liability, fire and all other policies of insurance at part thereof. u. To comply with all further reasonable rules and regulations for the use and occupancy of the Shopping Center as Landlord, in its sole discretion, from time to time promulgates for the best interest of the Shopping Center, but only to the extent that such rules and regulations do not interfere with Tenant's reasonable use and enjoyment of the Lease Premises. Landlord shall have no liability for violations thereof by any other tenant of the Shopping Center and the waiver thereof shall not excuse the Tenant from compliance. v. To refrain from assigning, selling, mortgaging, pledging, or in any manner transferring this Lease or any interest therein, by operation of law or otherwise; to refrain from subletting the Leased Premises or any potion or portions thereof, except with written consent of the Landlord. W. Not to suffer any mechanic's liens to be filed against the Leased Premises or the Shopping Center by the reason of any work, labor, services or materials performed at or furnished to the Leased Premises, to Tenant, or to anyone holding the Leased Premises through or under the Tenant. If any such mechanic's lien shall at any time be filed, Tenant shall forthwith cause same to be discharged of by payment or order of a court of competent jurisdiction or otherwise, but Tenant shall have the right to contest any and all such liens, provided security satisfactory to Landlord is deposited with Landlord within fifteen (15) days after the filing of such lien. If Tenant shall fail to cause such a lien to be discharged within thirty (30) days after the filing thereof and before judgment or sale thereunder, then, in addition to any other right or remedy of Landlord, 14 Landlord may, but shall not be obligated to, discharge the same by paying the amount claimed to be due or by bonding or other proceeding deemed appropriated by Landlord in Landlord's absolute discretion, and the amount so paid by Landlord and all costs incurred by Landlord in procuring the discharge or bonding of such lien, shall be deemed to be additional rent and together with interest thereon at twenty (20) per cent per annum from date of payment shall be due and payable by Tenant to Landlord within ten (10) days of Landlord's statement thereof. Nothing herein shall be construed as a consent on the part of Landlord to subject Landlord's estate in the Leased Premise to any lien or liability under the Mechanic's Lien Law of Illinois. X. To pay on demand Landlord's expenses, including reasonable attorneys' fees, expenses of administrative hearing and court costs incurred directly or indirectly in enforcing any obligation of Tenant under this Lease including any default by Tenant, in connection with appearing, defending or otherwise participating in any action or proceeding arising from the filing, imposition, contesting, discharging of any lien or claim for lien, in defending or otherwise participating in any legal proceeding initiated by or on behalf of Tenant wherein Landlord is not adjudicated to be in default under this Lease. Tenant's obligation under this subsection X shall be effective only in the event that Tenant is adjudicated to be in default under the Lease. ARTICLE IX. RULES AND REGULATIONS Section 9.1 TENANT TO ABIDE BY RULES AND REGULATIONS Tenant covenants and agrees with Landlord that: A. Except as otherwise provided in the Lease or consented in writing by Landlord, no sign, advertisement, display, notice, or other lettering shall be exhibited, inscribed, or painted or affixed on any part of the Leased Premises or inside, if visible from the outside, or outside the building of which they form a part. No symbol, design, mark, or insignia adopted by Landlord for the Shopping Center or the Tenants therein shall be used in connection with the conduct of Tenant's business in the Leased Premises or elsewhere without, in each instance, the prior written consent of Landlord. All such signs, displays, advertisements and notices of Tenant's so approved by Landlord shall be maintained by Tenant in good and attractive condition at Tenant's expense and risk. Tenant shall not use hand bills for advertising at Shopping Center. B. No awning or other projections shall be attached to the outside walls of the Leased Premises or the building of which they form a part without, in each instance, the prior written consent of Landlord. C. All loading and unloading of goods shall be done at such times, in the areas and through the entrances designated for such purpose by Landlord. D. All garbage and refuse shall be kept shall be kept in the kind of container specified by Landlord, and prepared for collection in the manner and at the times and places specified by Landlord. If Landlord shall provide or designate a service for picking up refuse and garbage, Tenant shall use same at Tenant's cost. Tenant will not install any automatic garbage disposal equipment without the prior written consent of Landlord. E. No radio or television aerials shall be installed or erected on the roof or exterior walls or on the grounds of the Leased Premises without prior written consent, in each instance, of Landlord. Any installation without written authorization shall be removed without notice at Tenant's expense. F. No loud speakers, television sets, radios or other devises shall be used in a manner so as to be heard or seen outside the Leased Premises without the prior written consent of the Landlord. 15 G. No auctions, or bankruptcy, or fire, or selling-out sales shall be conducted on or about Leased Premises without the prior written consent of Landlord, which may be withheld in Landlord's absolute and sole discretion. H. Tenant shall keep Tenant's display windows illuminated and the signs and exterior lights lit each and every day of the term herein during business hours. I. Tenant shall keep Leased Premises at a temperature sufficient to prevent freezing of water pipes and fixtures. J. The outside areas shall be kept clean and unobstructed. K. Tenant shall not make or permit any objectionable noise or odor to emanate from Leased Premises. No person shall use the Leased Premises as sleeping quarters or as lodging. L. Tenant shall obtain all permits and licenses necessary to conduct its business. M. Tenant shall not operate any coin or token operated vending machines or similar devises for the sale of any goods, wares merchandise, food, beverages, or services, including but not limited to, pay telephones, pay lockers, pay toilets, scales, amusement devices, candy, cigarettes or other commodities or any moving sign or fixture of any kind without the prior written consent of Landlord. The foregoing covenants and agreements of this Section 9.1 shall be referred to as "Rules and Regulations. " Section 9.2 Amendments to Rules and Regulations Tenant agrees that Landlord may amend, modify and delete present Rules and Regulations or add additional reasonable rules and regulations for the use and care of the Leased Premises, the building of which the Leased Premises are a part, the common areas and all of the Shopping Center so long as not to interfere with tenant's use. Tenant agrees to comply with all such Rules and Regulations upon notice to Tenant from Landlord. Section 9.3 Default bv Tenant The breach of any Rules and Regulations herein set forth or any amendments or additions thereto shall constitute a default under this Lease, and in such event, Landlord shall have all remedies in this Lease provided for default by Tenant. ARTICLE X DAMAGE OR TAKING AND RESTORATION Section 10.1 Fire. Explosion or Other Casualty In the event the Leased Premises are damaged by fire, explosion or any other casualty to an extent which is less than twenty-five (25) per cent of the insurable value of the Leased Premises, the damage shall be promptly repaired by Landlord at Landlord's expense upon receipt by Landlord of insurance proceeds for such damage; provided that Landlord shall not be obligated to expend for such repair an amount in excess of the insurance proceeds recovered as a result of such damage and that in no event shall Landlord be required to repair or replace Tenant's stock in trade, fixtures, furniture, furnishings, floor coverings and equipment. In the event of any such damage and (a) Landlord is not required to repair as hereinabove provided or (b) the Leased Premises shall be damaged to the extent of twenty-five (25) per cent or more of insured value, or (c) the building of which the Leased Premises are a part is damaged to the extent of twenty-five (25) per cent or more of the insured value, or (d) the buildings (taken in the aggregate) in the Shopping Center shall be damaged to the extent of twenty-five (25) per cent or more of the aggregate insurable value, Landlord may 16 elect to either repair or rebuild the Leased Premises or the building or buildings, or to terminate this Lease upon giving notice of such election in writing to Tenant within ninety (90) days after the occurrence of the event causing the damage. If the casualty, repairing or rebuilding shall render the Leased Premises un- tenantable, in whole or in part, and the damage shall not have been due to the default or neglect of Tenant, a proportionate abatement of the Rent shall be allowed from the date when the damage occurred until the date Landlord completes its work, said proration to be computed on the basis of the relation which the gross square foot area of the space rendered un-tenantable bears to the Floor Area. No abatement of Rent, proportionate or otherwise, pursuant to this Section 10.1 shall have any effect upon or be viewed as a waiver by either party of any rents value insurance maintained by such party relative to this Lease. If Landlord is required or elects to repair the Leased Premises as herein provided, Tenant shall repair or replace its stock in trade, fixtures, furniture, furnishings, floor coverings and equipment. If Tenant has closed, Tenant shall promptly reopen for business. However, if in the event the Leased Premises are rendered un-tenantable for longer than six (6) months, Tenant may in its sole discretion elect to terminate this Lease in its entirety, without penalty or further obligations. Section 10.2 Eminent Domain If the whole of the Leased Premises shall be taken by any public authority under the power of eminent domain, the Leased Term shall cease as of that day. Tenant shall pay Rent up to that date. All proration's will be taken into account on a per diem basis. Ifless than all of the floor area is taken, the Leased Term shall, at Tenant's option, cease only for the parts so taken by the public authority. Tenant shall pay Rent up to that date. If the Floor Area so taken leaves the space no longer suitable for permitted uses, as determined solely by Tenant, then the Lease Term shall cease and the Tenant shall pay up to the date that possession is taken. If more than twenty-five (25) per cent of the aggregate floor area of the building is taken by eminent domain the Landlord may, by notice in writing to Tenant delivered on or before date of surrendering possession to the public authority, terminate this Lease. All compensation awarded for the taking by eminent domain shall belong to Landlord. Tenant hereby assigns to Landlord all of Tenants rights to any and all compensation. However, Landlord shall not be entitled to any compensation specifically assigned to Tenant by any public authority. ARTICLE XI. DEF AUL TS BY TENANT AND LANDLORD, AND REMEDIES Section 11.1 Defaults by Tenant If (i) Tenant vacates or abandons the Leased Premises or permits the same to remain vacant or unoccupied or fails to be continuously open for a period of thirty (30) days except for a temporary closing due to force majeure, casualty, condemnation or remodeling, or (ii) Tenant shall falsify any reports required to be furnished to Landlord under the terms of this Lease or (iii) Rent, Additional Rent, or any part thereof shall be unpaid for five (5) days after written notice thereof to Tenant, or (v) default shall be made in the prompt and full performance of any covenants, conditions or agreement of this Lease to be kept or performed by Tenant and such default or breach of performance shall continue twenty (20) days (unless the default involves a hazardous condition, which shall be cured immediately) after written notice to Tenant, specifying such default or breach of performance, or (iv) any proceedings shall be commenced to declare Tenant bankrupt or insolvent or to obtain relief under any chapter or provision of any bankruptcy or debtor relieflaw or act or to reduce or modify the debts or obligations of Tenant or to delay or extend the payment thereof, or if any assignment of the property of Tenant be made for the benefit of creditors, or if a receiver or trustee be appointed for Tenant or the property or business of Tenant, or (v), the Landlord may treat the occurrence of anyone or more of the foregoing events as a breach of this Lease and thereupon at its option, without further notice or demand of any kind to Tenant or any other person, may have, in addition to all other legal or equitable remedies, the following described remedies: 17 Landlord may elect to terminate this Lease and the Lease Term created hereby in which event Landlord forthwith may repossess the Leased Premises and Tenant shall pay at once to Landlord as liquidated damages a sum of money equal to the Rent provided in this Lease for the balance of the stated term of this Lease less the fair market rental value of the Leased Premises for said period. Tenant hereby expressly waives the service of any notice of any election made by Landlord under this Section 11.1, and demand for payment of Rent or for possession, except the particular demands and notices as may in this Lease be specified. The service of any default notice, demand for possession, a notice that the tenancy hereby created will be terminated on the date therein named, the institution of an action of forcible dishonor or ejectment or the entering of a judgment for possession in such action, or any other act or acts resulting in the termination of Tenant's right to possession of the Leased Premises shall not relieve Tenant from Tenant's obligation to pay the Rent hereunder during the balance of the Lease Term or any extension thereof, except as herein provided. The Landlord may collect and receive any rent due from Tenant and the payment hereof shall not constitute a waiver of any existing default by Tenant or affect any notice or demand given, suit instituted or judgment obtained by Landlord, or be held to waive, affect, change, modify or alter the rights or remedies which Landlord has in equity or at law or by virtue of this Lease. Payment by Tenant or receipt by Landlord of a lesser amount than any installment or payment due shall be deemed on account of, but not satisfaction of, the amount due, and no endorsement or any transmittal document accompanying any check or payment of any amount due shall be deemed an accord and satisfaction. Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of any amount due or pursue any other remedies available to Landlord. The acceptance ofliquidated damages by Landlord under any of the provisions of this Lease shall not preclude Landlord from the enforcement of any of the covenants or agreements of this Lease, nor shall any other act which infers recognition of the tenancy operate as a waiver oflandlord's right to terminate this Lease, or operate as an extension of this Lease. Notwithstanding, the foregoing to the contrary, in the event that this Lease is attempted to be assumed under federal bankruptcy law by a trustee in bankruptcy law by a trustee in bankruptcy for Tenant or by Tenant as debtor in possession ( hereinafter collectively referred to " Tenant's Trustee") and there exists a default or such a state offacts which with the giving of notice and the passage of time would constitute a default (such state off acts, together with any default being referred to as a "Default"), such attempted assumption shall not be effective unless Tenant's Trustee: (1) Cures, or provides adequate assurance that it will promptly cure, such Default; and (2) Compensates, or provides adequate assurance that it will promptly compensate, Landlord for any actual pecuniary loss to Landlord resulting from such Default; and (3) Provides "adequate assurance of future performance" (as such term is herein defined) of Tenant's obligations and covenants under this Lease. For propose of the foregoing sentence, "adequate assurance of future performance" shall be deemed to include, without limitation, adequate assurance of the following: (i) The source of rental and other consideration due under this Lease; (ii) That the Fixed Minimum Rent due under this Lease shall not decline substantially: 18 (iii) That assumption or assignment of this Lease shall not substantially disrupt any tenant mix or balance in the Shopping Center and shall not violate the provisions of this Lease governing Permitted Uses; and (iv) That assumption or assignment of this Lease shall not alter or affect materially any other obligation or duty of Tenant, nor be used to circumvent the remainder of the provisions of this Lease. Furthermore, Tenant's Trustee may assign this Lease only if: (1) Tenant's Trustee assumes the Lease in accordance with the above provisions of this paragraph 11.1; and (2) the assignee of Tenant's Trustee provides adequate assurance of future performance of Tenant's obligation and covenants under this Lease (whether or not a default has occurred under the Lease), including, without limitation, the items listed in (I) through (iv) above. If Landlord shall not be permitted to terminate this Lease as provided herein because of the provisions of Title 11 of the US Code relating to Bankruptcy, as amended, the Tenant as debtor in possession or any trustee for Tenant agrees promptly, within more than fifteen (15) days upon request by Landlord to the Bankruptcy Court, to assume or reject this Lease, and Tenant, on behalf of itself and any trustee, (11.1 )agrees not to seek or request any extension or adjournment of any application to assume or reject this Lease by Landlord with such Court. In no event after the assumption of this Lease shall any then existing default remain uncured for a period in excess of the earlier of (a) ten (10) days and (b) the time period set forth herein. In the event of a filing of a petition under the Bankruptcy Code, Landlord shall have no obligation to provide Tenant with any service or utilities as herein required unless Tenant shall have paid and is current in all payments of Common Area Costs. Section 11.2 Holdover by Tenant In the event Tenant remains in possession of the Leased Premises after the expiration of the tenancy created hereunder, and without the execution of a new lease, tenant, at the option of Landlord, shall be deemed to be occupying the Leased Premises as a tenant from month-to-month, subject to all the other conditions, provisions and obligations of this Leases insofar as the same are applicable to a month-to-month tenancy. Section 11.3 Landlord's Right to Cure Landlord may, but shall not be obligated to, at any time, without notice, cure any failure by Tenant to perform any obligation under this Lease; and whenever Landlord so elects, all costs and expenses incurred by Landlord, including, without limitation reasonable attorneys fees together with interest on the amount of costs and expenses so incurred at the rate often (10) per cent per annum shall be paid by Tenant to Landlord on demand. Section 11.4 Affect of Waivers of Default No consent or waiver, express or implied, by Landlord or Tenant to or of any breach of any covenant, condition or duty of Tenant or Landlord, respectively, shall be construed as a consent or waiver of any other covenant or condition or duty. Section 11.5 Security Deposit Landlord agrees to waive any Security Deposit. Section 11.6 Default by Landlord. If Landlord fails to perform any of the terms, covenants, agreements, or conditions on its part to be performed under this Lease and that failure continues uncorrected for sixty (60) days after notice of failure from Tenant, Tenant may, in addition to all other legal or equitable remedies, terminate this Lease at any time thereafter during the continuance of that default by written notice to Landlord, and Tenant shall be relieved of any and all liability under this Lease. Landlord agrees to pay Tenant's expenses, including reasonable attorneys' fees, expenses of administrative hearing and court costs incurred directly or indirectly in enforcing any obligation of Landlord under this Lease including any default by Landlord. If Landlord fails to perform any term, covenant, agreement, or condition under the Lease and Tenant is unable to operate 19 . as a result of Landlord's failure, Tenant may, but is not required, upon thirty (30) days notice to Landlord, correct the condition, the costs of which shall be subject to reimbursement by Landlord to Tenant. ARTICLE XII. MISCELLANEOUS PROVISIONS Section 12.1 Calculations of Pro-rata Shares The calculations of pro-rata shares of Real Estate Taxes, Common Area Maintenance costs, and insurance premiums shall be equal to the product of (a) the amount of said Real Estate Taxes, Common Area Maintenance costs, and insurance premiums, and (b) a fraction, the numerator of which is the total Floor Area of the Leased Premises (2300 square feet) and the denominator of which is the total rentable floor area in the Shopping Center, which is 39,660 square feet; that fraction being 2400/39,660 or .0605%. Section 12.2 Mutual Waiver of Subrogation Whenever any loss, cost damage or expense resulting from fire, explosion or any other casualty or occurrence is incurred by either party to this Lease in connection with the Leased Premises, and such party is then covered in whole or in part by insurance with the respect of such loss, cost, damage or expense, then the party so insured hereby releases the other party from any liability it may have on account of such loss, cost, damage, or expense to the extent of any amount recovered by reasons of such insurance and waives any right subrogation which might otherwise exist in or accrue to any person on account thereof, provided that such release of liability and waiver of the right of subrogation shall not be operative in any case where the effect thereof is to invalidate such insurance coverage or increase the cost thereof. Section 12.3 Passageways No permanent or temporary revocations or modifications to occupy or use or maintain any passageway or structure in, over or under any street or sidewalk shall operate as or be deemed an eviction of the Tenant or in any way terminate, modify, or abate the obligations of the Tenant to pay the full rental and additional rental as in this Lease provided and to perform each and every covenant thereof, except to the extent that it affects Tenant's use of the Leased Premises. Section 12.4 Adiacent Excavation-Shoring If an excavation shall be made upon land adjacent to the Leased Premises, or shall be authorized to be made, Tenant shall afford to the person causing or authorized to cause such excavation license to enter upon the Leased Premises for the purpose of doing such work as said person shall deem necessary to preserve the wall or the building of which the Leased Premises form a part from injury or damages and to support the same by proper foundation without any claim for damages or indemnity against Landlord, or diminution or abatement of rent, except to the effect that such work affects the Tenant's use of the Leased Premises. Section 12.5 Access to Landlord for Placing Signs Tenant agrees that Landlord, its agents, employees or any person authorized by Landlord may enter the Leased Premises to place in and upon the Leased Premises at such places as may be determined by Landlord "for rent" signs or notices during the last six (6) months of the Lease Term or any extension thereof. Tenant agrees that neither Tenant nor any person within Tenant's control will interfere with such signs or notices. Section 12.6 Intentionallv Left Blank. Section 12.7 Notices Any notice or demand from Landlord to Tenant or from Tenant to Landlord shall be mailed by registered mail, certified mail, or personally delivered to the proper address. If to tenant to Village of Mount Prospect, Attention: Village Manager, 50 S. Emerson Street, Mount Prospect, Illinois 60056 and if to 20 I' ,. Landlord, to Crystal Court Shopping Center 4701 N. Cumberland Ave. Space #27, Norridge, IL. 60706. The customary receipt signed or refused by the party to whom notice is directed shall be conclusive evidence of such service. Notice shall be deemed given when delivered, if given by personal delivery, otherwise when received, as evidenced by receipt or refusal, as applicable. Section 12.8 Left Blank Section 12.9 Left Blank. Section 12.10 Relationship of Parties Nothing contained herein shall be deemed or construed by the parties hereto nor by any third party, as creating the relationship of principal and agent or of partnership or of joint venture between the parties hereto, it being understood and agreed that neither the method of payment of rent nor any other provision contained herein, nor any acts of the parties hereto, shall be deemed to create any other relationship than Landlord and Tenant. Whenever the singular is used it shall include the plural and wherever the masculine gender is used it will include the feminine. Section 12.11 Short Form Lease Tenant agrees not to record this Lease. Both Tenant and Landlord agree, at either's request, to execute, acknowledge and deliver at any time after the date of this Lease a "short form lease" suitable for recording, setting forth those items, except Rent, contained herein. Section 12.12 Estoppels Certificate At any time Tenant agrees, upon request in writing from Landlord or any mortgagee or purchaser of Landlord, to execute, acknowledge and deliver to Landlord a statement in writing certifying that Lease is in full force and affect, and any other matters reasonably requested by Landlord, or mortgagee or purchaser of Landlord. Section 12.13 Applicable Law The laws of the state of Illinois shall govern the validity, performance and enforcement of this Lease. The unenforceability or invalidity of any provision of this Lease shall not affect any other provision of this Lease. Any headings of any provisions or articles contained herein are for convenience only and do not define, limit, or construe the contents of such articles or provisions of this Lease. Section 12.14 Execution of Lease by Landlord Employees or agents of Landlord have no authority to make or agree to make a lease or any other agreement or undertaking in connection herewith. The submission of this document for examination does not constitute an offer to lease. The Lease and the Leased Premises become effective and binding only upon the execution and deliver hereof by Tenant and Landlord. All negotiations, considerations, representations and understandings between Landlord and Tenant are incorporated herein and may be modified or altered only by agreement in writing between Landlord and Tenant, and no act of omission of any employee or agent of Landlord shall alter, change, waive, or modify any of the provisions hereof. Section 12.15 Binding Effects of Lease The covenants, agreements and obligations herein contained except as herein otherwise specifically provided, shall extend to, bind and inure to the benefit of the parties hereto and their respective personal representatives, heirs, successors and assigns. Landlord may at any time assign its interest in this Lease. Assumption by the assignee shall release Landlord from any and all liabilities hereunder. Section 12.16 Landlord's Beneficiaries and Agents Wherever in this Lease, Landlord is granted a right of consent or approval, a right to inspect, a right to add improvements to the Shopping Center, a right to designate repairs improvements or maintenance 21 '" ," ~ required to be made by Tenant or changes in any plans submitted by Tenant or any other act which involves the exercise of discretion, such discretion may be exercised by Landlord, Landlord's beneficiaries, or Landlord's managing agent. Any obligation set forth in this Lease of the Landlord, or any obligation of Tenant which Landlord is given the right to perform on Tenant's behalf, shall conclusively be deemed to have been performed by Landlord as if the same shall have been performed by Landlord, Landlord's beneficiaries, or their agents or employees. Any obligation in this Lease to indemnify Landlord (or Landlord and any other party), or to waive any claim against Landlord (or Landlord and any other party) is hereby extended so that such obligations shall run in favor of Landlord, Landlord's beneficiaries and their agents and employees. Whenever in this Lease it is acknowledged or stated that Landlord has made no representation or warranties or promises with respect to any matter such provisions shall be deemed to acknowledge or state that neither Landlord nor any beneficiary nor any agent nor employee of Landlord nor its beneficiaries has made such representations or warranties or promises. All rights to enforce any provisions of this Lease on the part of Landlord or any rights to exercise any remedies of Landlord, either specifically provided for herein or at law or equity, may be exercised by Landlord's beneficiaries or any agents of Landlord or Landlord's beneficiaries, in their own name, alone or in conjunction with Landlord or any of the foregoing parties. Section 12.17 Intentionally Omitted Section 12.18 Obiection to Statements Tenant's failure to object to any statement, invoice or billing rendered by Landlord within a period of one hundred and twenty (120) days after receipt thereof shall constitute Tenant's acquiescence with respect thereto and shall render such statement, invoice or billing an account stated between Landlord and Tenant * * * IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease the day and year first above written. Tenant: Village of Mount Prospect By:~r~ Irvana K. Ilks Mayor Landlord: Date:~ I? ~Op/ By: As stee of the Parkway Bank and Trust, t personally, but as Trustee under Trust Agreement dated November 2, 1998, and known as T=1JO' [~ Date:;} 5 7 I L/ Attest: ~'L @ By: "---/71 = ~d .. If' M. is Angell "- ) Village Clerk \ 22 ... . ~ ,. EXHIBIT A DESCRIPTION OF CRYSTAL COURT SHOPPING CENTER AND LEASED PREMISES DESCRIPTION OF CRYSTAL COURT SHOPPING CENTER: PARCEL 1: LOT 2 IN MARCO POLO'S SUBDIVISION, BEING A SUBDIVISION OF THE EAST '12 OF THE NORTHEAST lA OF SECTION 22, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPLE MERIDAN, IN COOK COUNTY, ILLINOIS. PARCEL 2: EASEMENT FOR THE BENEFIT OF PARCEL 1 AS CREATED BY GRANT MADE BY AND BETWEEN THE CRYSTAL TOWERS HOMEOWNERS ASSOCIATION AND AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO AS TRUSTEE UNDER TRUST AGREEMENT DATED APRIL 12, 1984 AND KNOWN AS TRUST NUMBER 60753 RECORDED AS 27193862 FOR STORM AND SANITARY SEWERS. The Real Property or its address is commonly known as 1703-1767 Algonquin Road, Mount Prospect, IL 60056. The Real Property tax identification number is 08-22-203-041-0000. DESCRIPTION OF LEASED PREMISES: SPACES 4 & 5 IN CRYSTAL COURT SHOPPING CENTER COMMONLY KNOWN AS: 1709-1711 W. ALGONQUIN ROAD MOUNT PROSPECT, IL 60056 )It , . ~ EXHIBIT "B" DESCRIPTION OF WORK ON LEASED PREMISES Work on the Leased Premises includes, but is not limited to, the following: (if needed) A. All Work, as hereinafter described, required to complete and place the Leased Premises in finished condition for opening of business will be performed by Tenant, at Tenants expense, except to the extent of any credit provided in the Lease. Such Work shall be in accordance with this Exhibit, and the Lease to which this Exhibit is attached. B. The WORK 1.) All floor finishes, salient's and coverings. 2.) Painting and decorating. 3.) All trade fixtures and furnishings. 4.) All tenant signs on the Leased Premises, except as described in Exhibit C. 5.) Interior partitions and doors. 6.) Storefront display platforms or backgrounds. 7.) All additions, deletions or modifications to existing conditions or to Landlord's Work (proposed or in place). 8.) Temporary services and facilities during construction shall be the responsibility of the Tenant from the date the Tenant commences the Work, including costs or charges for any utilities or other services to the Leased Premises. 9) ADA bathroom improvements. 10) Heating, ventilation and air conditioning (HV AC) System replacement, including all necessary ductwork, and one (1) central heating and cooling unit for the entire Leased Premises, though two (2) roof units may be installed at Tenant's discretion, subject to the credit in Section 4.1(e) of the Lease. 11) Fire suppression sprinkler system. 12) Landlord specifically authorizes Tenant to buildout the Leased Premises in substantially the manner described in the Floorplan, attached hereto and incorporated herein as Exhibit B-1. 24 .. , J . EXHIBIT "C " SIGN CRITERIA I GENERAL 1.1 This exhibit shall govern the design, construction, installation and standards of repair of all signs to be installed initially by the Tenant at its cost, in conjunction with the provisions ofthe Tenant's Lease. The Landlord shall make all final and controlling determinations concerning any questions of interpretation of this sign policy. 1.2 It is intended that the signing of stores in Crystal Court Shopping Center shall be designed and executed in a manner to result in an attractive and coordinated total effect. Lettering shall be well proportioned, and its design, spacing and legibility shall be a major criteria for approval. 1.3 Tenant shall be required to identify the Leased Premises by erecting (1) sign which shall be attached respectively directly to the building fascia. Where the Leased Premises is a comer store, Tenant may install a fascia sign on each fascia when the side fascia exceeds fifteen (15) feet in length, and the criteria shall govern each frontage respectively. In no event shall the preceding sentence be construed to permit the installation of fascia sign on sides of a building lacking fascia. 1.4 Landlord shall supply and install a uniform identification sign on the Tenant's service door at the Tenant's expense. Tenant shall not post any additional signs in the service area. 1.5 The content of Tenant identification signs shall not include names of items for sale. 1.6 All lines oflettering shall run horizontally. 1.7 All lettering shall be upper case or lower case block type letters or combination thereof. Script lettering shall not be allowed, except as the Landlord shall otherwise determine. 1.8 Moving, rotating, flashing, noise-making or odor-producing signs shall not be allowed. 1.9 The names, stamps or decals of manufacturers or installers shall not be visible except for technical data (if any) required by governing authorities. 1.10 Tenant shall not be permitted to open for business without approved required signs in place. Failure to open for this reason shall not excuse Tenant from the performance of its obligations under the Lease. II CRITERIA FOR BUILDING FASCIA SIGNS 2.1 Letters shall be individual and individually mounted to the fascia material with minimum practical sized, non-corrosive, concealed fastenings, weather-sealed at point of fascia penetration. 2.2 Length of sign shall be limited to sixty-five (65) percent of the fascia frontage. The assigned position for each Tenant sign shall be as close to a center-of- frontage location as possible subject to allowance for positioning comer store signs and suitable space between adjacent tenant's signs, as determined by Landlord. Multiple premises by Tenant (i.e. those whose fascia frontage exceeds forty (40) feet) shall center sign in bay containing entrance, and sign shall be limited to twenty-six (26) feet in length. 2.3 The principal base of all sign letters shall be aligned on a base line located as determined by the Landlord for each Tenant Sign. 26 ... . J .z; 2.4 The maximum height of upper case and lower case block and script letters and ascenders oflower case letters shall be limited to twenty-four (24) inches and decenders oflower case letters shall be limited to eight (8) inches. 2.5 Letters shall be of minimum practical depth. Maximum depth shall be five (5) inches. 2.6 Letters shall be channel type formed of steel or aluminum back and sides with porcelain or baked enamel exterior finish. Open end of the channel shall be glazed with acrylic plastic facing of color selected by the Tenant. 2.7 Sign letters shall be self-illuminated. Internal illumination shall be provided by neon-type tubing with wring and transformers concealed behind the fascia shall be of minimum practical size and number, non- corrosive, concealed and weather sealed at point of fascia penetration. Landlord shall provide an access panel in the canopy soffit to the sign wiring area. 2.8 Prior to awarding a contract for fabrication and installation of Tenant's building fascia sign, Tenant shall submit drawings and specifications, in quadruplicate, including samples of materials and colors, for all its proposed building fascia and storefront sign work. The drawings shall clearly show location of sign and indicate graphs, color, materials, construction and attachments details. Landlord shall return one (1) set to Tenant with its required modifications and/or approval. 2.9 Tenant shall purchase its fascia signage through Landlord's recommended sign contractor unless Landlord's recommended sign contractor's price is for more than one hundred and ten (110) per cent of the price available from another reputable sign contractor selected by Tenant. III CRITERIA FOR STOREFRONT SIGNS 3.1 Tenant may install not more than a total of two (2) identical signs on the doors, windows or sidewalk returns ofthe storefront. Signs, non-illuminated or illuminated, shall not exceed two (2) inches in height and letters shall be either painted, or cut from self-adhering vinyl fabric or one quarter (1/4) inch thick wood, metal or plastic or appropriate materials, without Landlord's approval. 3.2 Tenant shall not apply any other signs to the interior or exterior face of the storefront glass or other material. IV APPROVAL OF LOCAL GOVERNMENT AUTHORITIES 4.1 Tenant shall be responsible for complying with the rules, regulations and ordinances governing the installation and maintenance of signs with the Village of Mount Prospect, Illinois. Application for all necessary permits and the payment of any fees shall be directed to the appropriate Village Department by Tenant. 27