NORTHEAST APL
Owners Obligations: Owner will provide storage, loading and unloading services to Lessee during normal business hours of 8:00AM to 5:00 PM EST Monday through Friday. Owner will also provide inbound receipt, outbound shipment and reporting. Any services that are performed outside of normal business hours (Monday through Friday, 8:00 AM EST to 5:00 PM EST) shall be at a rate of $100.00 per hour with a minimum billable time of two (2) hours plus applicable inbound/outbound charges. Service requested on a Weekend and holiday will be invoiced at a rate of $150.00 per hour, with a minimum of four (4) hours billable plus applicable inbound/outbound charges.
Defaults: If either Party fails to perform or fulfill any obligations under this Lease, that Party shall be in default of this Lease, subject to any applicable statute, ordinance or law to the contrary. A breaching Party shall have thirty (30) days from the date of notice of default by the non-breaching Party to cure the default. In the event the breaching Party does not cure a default, the non-breaching Party may, at its option, (a) cure such default and the cost of such action may be added to the breaching Party’s financial obligations under this Lease; or (b) declare the breaching Party in default of the Lease. In the event of default, the non-breaching Party shall be able to immediately terminate this Lease. If Lessee does not remove their property upon notice thirty (30) days’ notice of termination of this lease, the property will be treated as abandoned and Owner may keep, sell, destroy, or dispose of it without any liabilities to Lessee.
Security and Responsibility for Loss: Lessee understands that Owner does have a security alarm system and video surveillance for the Premise; however Owner makes no representations or warranties of any kind in connection with the security of the Premises. Owner is not responsible for carrying any insurance covering Lessee’s possessions. Lessee should, at their own expense, obtain insurance for the property stored at the Premises. Lessee shall obtain and maintain at their expense and throughout the duration of this Lease, comprehensive general liability insurance coverage. Said insurance policy will include and list the Owner as an additional insured. Lessee will provide to Owner a certificate of insurance confirming coverage is in place. Lessee shall hold the Owner harmless for any loss to the Lessee’s property. Owner will carry insurance on the building and on their employees.
Severability: If any term, covenant, condition or provision of this Lease, or the application thereof to any party or circumstance shall to any extent be held invalid or unenforceable by a judicial order, the remainder of this Lease or application of such terms or provision to parties or circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby, and each term, covenant, condition or provision of this Lease shall be valid and be enforced to the fullest extent permitted by law.
Termination/Notice/Bankruptcy and Default: The specified party or parties may terminate this Agreement upon the occurrence of one or more of the following events, by written notice to the other party: By either Party, after completion of the initial twelve (12) month term as provided in the “Lease Term” section; or By Owner, immediately upon written notice; should Lessee fail to pay any sums due hereunder within forty-five (45) days of the due date; or by either party, immediately, upon the insolvency of the other party, the appointment of a liquidator, receiver, administrative receiver or administrator. In the event this agreement is terminated by either party, final disposition of inventory will not occur until all Lessee accounts are in good standing. In addition, before final disposition of inventory and/or other related items belonging
