EXHIBIT 10(vi)
THIS INDENTURE made this 11th day of December 1995, between GRANBY APPAREL, INC., A Missouri Corporation, party of the first part, hereinafter called "Granby", and DAISY MANUFACTURING COMPANY, INC., a
Delaware Corporation, authorized to do business in Missouri, or assigns, herein called "Daisy",
WITNESSETH:
For and in consideration of the mutual covenants and agreements herein contained, IT IS MUTUALLY AGREED AS FOLLOWS:
PROPERTY LEASE That in consideration of the covenants herein contained on
-------------- the part of Daisy to be observed and performed, Granby does hereby lease unto Daisy the premises located in Granby, Missouri, described as follows:
Part of the Northwest Quarter of the Southeast Quarter of Section 6,
township 25, Range 30, Newton County, Missouri, described as beginning at a
set iron pin N 89(Degrees)53'40" W 321.50 feet from a sandstone at the
Southeast Corner of said Northwest Quarter of the Southeast Quarter of
Section 6, thence N 89(Degrees)53'40" W 384.28 feet to a found pipe, thence
N 48(Degrees)57'19" W 203.80 feet to a found iron pin on the right of way
of a public street, thence N 28(Degrees)30' E 26.84 feet along said right
of way, thence N 61(Degrees)23' E 265.18 feet along said right of way,
thence n 74(Degrees)10' E 333.00 feet along said right of way, thence S
00(Degrees)07'29" W 545.11 feet to the point of beginning,
hereinafter called "Property".
To have and to hold said premises unto Daisy, its successors or assigns, for the term of twenty four (24) months. The Lease shall commence on the 11th day of December, 1995, and end on the 10th day of December, 1997. Daisy shall have the right to cancel the Lease on July 1, 1996, if the availability or cost of labor is not in keeping with the data presented by the Area Economic Development Group, a copy of which is attached hereto and incorporated herein by reference. Daisy shall pay as rental the sum of Seven Thousand Six Hundred Dollars ($7,600.00) per month, payable in advance commencing on the 11th day of December, 1995, and on the same day of each succeeding month thereafter during the initial term and any extension of the Lease as hereinafter provided, with the rent to be adjusted at the end of each yearly anniversary of the Lease to reflect any change in Consumer Price Index issued by the Wall Street Journal.
Any rent not paid within twenty (20) days of the due date shall bear interest at the rate of ten (10%) percent per annum until paid.
OPTION TO EXTEND TERM OF LEASE WITH GRANBY
------------------------------------------
In the event Daisy has substantially complied with all the terms and conditions of this agreement to be performed by Daisy, Granby hereby grants to Daisy the option to extend the Lease for a period of two (2) years commencing on the date of the end of the two (2) year term, and ending seven hundred thirty (730) days thereafter, upon the same terms and conditions as herein stated. In the event Daisy elects to exercise said option, it shall give written notice thereof to Granby on or before sixty (60) days prior to the end of the initial term of the two (2) year Lease.
TERMS AND PROVISIONS OF PROPERTY LEASE:
--------------------------------------
A. Granby covenants and agrees:
That it will put Daisy in possession of said Property and Daisy, paying the
rent hereby reserved and observing and performing the several covenants and
stipulations herein provided to be performed, shall peaceably hold and
enjoy the Property during the term hereof without any interruption by
Granby or any person, corporation or other entity or entities rightfully
claiming under it.
B. Daisy covenants and agrees:
1. To use the property for such business purposes as it may deem
appropriate in its sole discretion.
2. Daisy shall have the right to assign the Lease or to sublet the
Property in whole or in part, with prior written consent of Granby, and
such consent shall not be unreasonably withheld.
3. Daisy shall inform Granby of any alteration or remodeling work in the
building and Granby shall not unreasonably withhold such consent and
agreement. All such alteration or remodeling work shall comply with all
laws, orders, rules, regulations or requirements of any governmental
authority affecting the same and shall be at Daisy's expense.
4. To repair all injuries and damages done to the property through
Daisy's gross negligence during its occupancy or pay for the same.
5. Daisy accepts the Building "as is".
6. If default shall be made in the payment of rent or any part thereof
at the time provided, Granby shall, by written notice to Daisy, notify
Daisy of the same. If said default is not corrected within thirty (30) days
from the date of receipt of such notice, Granby shall have the right to re-
enter and take possession of the premises and Daisy will peacefully
surrender possession thereof to Granby or its registered agent.
If default be made by Daisy in the performance or observance of any other covenant, agreement or condition to be performed on its part, Granby shall give written notice thereof to Daisy and if the same is not corrected within ninety (90) days thereafter, Granby shall have the right to re-enter and take possession of the premises and Daisy will peacefully surrender possession thereof to Granby or its registered agent.
C. It is mutually agreed by and between the parties that:
1. In the event the building on the Property is destroyed or damaged so
that it is untenantable, without fault of Daisy, this Lease shall
2. In the event the building on the Property is damaged so as to be
partially untenantable without fault of Daisy, the Lease may at Daisy's
option be terminated by giving written notice to Granby. The parties may,
however, agree to continue the Lease if a part of the building could be
used with the monthly rental to be reduced to an amount mutually agreed
upon until the entire building is rendered tenantable for Daisy's intended
D. Daisy shall carry public liability insurance in a minimum amount of
One Million Dollars ($l,000,000.00) per occurrence and Granby shall be
shown as an additional insured on said policy and a copy thereof furnished
to Granby.
E. Daisy shall carry insurance on the building on the Property, insuring
the same against loss by fire or other casualty in an amount of Seven
Hundred Sixty Thousand Dollars ($760,000.00). Daisy shall have Granby
named as an additional insured on said policy, and a copy thereof furnished
F. Daisy shall pay all of the taxes levied and assessed against any
business which Daisy may be engaged in, including real estate taxes on the
G. Granby warrants that the air conditioning system, the plumbing and
electrical systems will be in good operating condition for at least one
hundred twenty (120) days from the date the Lease begins. In the event
thereafter any of said systems require replacement or repair, the cost
thereof shall be paid by Daisy.
H. Any one or more of the following events shall constitute default:
1. The failure of Daisy to comply with all of the terms and provisions
of this Lease agreement;
2. The making by Daisy of an assignment for the benefit of creditors.
I. Any notice, request, demand, approval or consent given or required t ...