10/17/1957 · LEASE · book 36 page 144 doc 5496@36/144

144 LEASE THIS INDENTURE of LEASE entered onto on the 11th day of September, A. D. 1957, by and between Carolina Realty Inc., a Rhode Island corporation having its usual place of business in Carolina, the Town of Charlestown, State of Rhode Island, hereinafter called the LESSOR, and Matty's Ford Sales Inc., a Rhode Island corporation having its usual place of business in Kenyon, in the Town of Charlestown, State of Rhode Island, hereinafter called the LESSEE. WITNESSETH: That the said Lessor hereby demises and leases unto said Lessee that property commonly referred to as the Christian Hill Garage located on the southerly side of the South County Trail, so-called, in that section of the Village of Kenyon, commonly known as the Christian Hill, in the Town of Charlestown, County of Washington, State of Rhode Island, which includes the land and garage building thereon, located on the lot and parcel of land which is bounded on the East by a dirt highway leading from South County Trail to Christian Hill house, bounded on the North by the South County Trail, bounded on the West by a paved road known as Rathskeller Road, and bounded on the South by the back line of the said property which shall be determined by measuring ten (10) Feet South from the garage building. The Lessee is to conduct on the premises a new and Used automobile sales, service, and repair business; and is also to operate a gasoline station. TO HAVE AND TO HOLD the same with the appurtenances unto the said Lessee, its successors and assigns, and for during the term of Three (3) years from the 10th day of October, A. D. 1957 to the 9th day of October, A. D. 1960, yielding and paying therefore during the term the rent of Eighty ($80.00) dollars per month for each and every month during the continuance of this lease, beginning the 10th day of October 1957, and on the 10th day of each month thereafter. And the said Lessee, for itself, its successors and assigns covenants with the said Lessor, its successors and assigns, that it will pay rent at the times and in the manner aforesaid; and that in case of failure on its part to pay the same within five (5) days subsequent to the time above specified (and it shall not be required that any demand be made for the same), or, in case of failure to perform, upon the receipt of ten (10) day's written notice of said failure to perform, all the covenants and agreements contained in this Lease on the part of the said Lessee to be kept and performed, the said Lessor, its successors and assigns, shall be at liberty to enter upon said premises and declare this lease at an end and take immediate possession of the premises; and the said Lessee will keep and maintain the said premises and equipment in as good order and repair as the same are now, ordinary wear and tear and damage by the elements excepted; and at the expiration or sooner termination thereof, will quietly and peaceably surrender up possession of the premises to the said Lessor, its successors or assigns, in as good order as they now are, or may be, in ordinary wear and tear, and damage by the elements excepted, and that it will not assign this lease, nor underlet the whole or any part of the premises; and that the said Lessor's servants and/or agents may, at all reasonable times, enter to view and make such repairs as may be necessary to such premises. As a further consideration for this lease, the Lessee does hereby covenant and agree, in addition to the above covenants, to maintain said premises both as pertains to the interior in addition to the above covenants, to maintain said premises both as pertains to the interior and the exterior. It is also understood and agreed by and between the parties that the Lessee has made and is making improvements to the rented premises to cause the same to become more suitable in operating his automobile sales, service and repair business. NOW THEREFORE, it is agreed by and between the parties that said Lessee shall have the right to improve or add to said premises, all of which additions and improvements shall ensue and become part of the real estate and belong to the Lessor at the end of the term of this lease; and the Lessee does guarantee and agree to save the Lessor harmless from any claims on account of mechanic's liens

145 or obligations, actions, or causes of actions against said premises on account of such improvements or additions, or against said Lessor as pertains to any claims for such improvements or additions as contracted by the Lessee. It is further agreed and understood that the Lessor shall, during the term of this lease, have the right to dispose and sell said demised premises, free and clear of this lease obligation, and in the event that the said Lessor does dispose of said premises during the term of this lease, the Lessee shall, within sixty (60) days after the date of sale, remove from said premises his personal property, and give up possession to said premises; PROVIDED, HOWEVER, that the Lessor reimburses the Lessee on account of any improvements and additions placed on said premises by the Lessee during the term of this lease, in an amount equal to the amount by which the market value of said premises have been enhanced and increased on account of such improvements and additions as have been placed by the Lessee. In the event that the Lessor does not dispose or sell said premises during the term of this lease, then at the end of said term of three (3) years, or upon the sooner termination thereof on account of default in performing the covenants of this lease on the part of the Lessee, all said additions and improvements caused to be placed on said premises by the Lessee shall ensure to the benefit of the real estate, and be and become the property of the Lessor. That the Lessee paying the rent and performing the covenants and agreements on the part of the said Lessee herein contained, may peaceably hold and enjoy said premises during said term, without any lawful let or hindrance by the Lessor or any person claiming by, through, or under it; and it is mutually agreed by and between said parties that in case said premises shall be damaged by fire, or other unavoidable casualty, so that the same shall be unfit for occupation and use, a just abatement of the rent shall be made until the same shall be properly repaired by the Lessor; provided, however, that if the Lessor shall not elect to repair same, then this lease shall terminate at the time of the such damage. IN WITNESS WHEREOF, we hereunto set our hands and seals this 11th day of September, A. D. 1957. Executed in the Presence of: Edward M. Botelle CAROLINA REALTY, INC. (Corporate Seal) By Norman J. Wright, Pres. LESSOR MATTY'S FORD SALES, INC. By Matthew J. Gervasio LESSEE STATE OF RHODE ISLAND ) County of Washington ) In Charlestown on the 11th day of September, A. D. 1957, before me personally appeared Norman J. Wright, to me known and known by me to be the party executing the foregoing instrument, and to be the president of said corporation Carolina Realty, Inc., and he acknowledged said instrument, by him executed, to be his free act and deed individually and in his said capacity, and the free act and deed of said Carolina Realty, Inc. EDWARD M. BOTELLE Notary Public STATE OF RHODE ISLAND ) County of Washington ) In Westerly on the 11th day of September, A. D. 1957, before me personally appeared Matthew J. Gervasio, to me known and known by me to be the party executing the foregoing instrument, and to be the president of Matty's Ford Sales, Inc., and he acknowledged said instrument, by him executed, to be his free act and deed individually and in his said capacity, and the free act and deed of said Matty's Ford Sales, Inc. NATALE L. URSO Received for record October 17th, A. D. 1957 at 9:05 o'clock, a. m., and recorded by [?] Town Clerk