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REAL ESTATE LEASE AGREEMENT BETWEEN CITY OF MOSCOW, IDAHO AND CADILLAC JACK'S, INC. AGREEMENT, between City of Moscow, Idaho, a municipal corporation of the State ofldaho, 206 East Third Street, Moscow, Idaho, 83843 (hereinafter referred to as "CITY") and Cadillac Jack's, Inc., an Idaho corporation, 112 North Main Street, Moscow, Idaho, 83843 (hereinafter referred to as "LESSEE"); W I T N E S S E T H : CITY leases and rents to LESSEE, and LESSEE leases and rents from CITY, the real property described on attached Exhibit for use exclusively as an eleven ( I I ) stall parking lot for vehicle storage (hereinafter ''the Leased Premises''). I. TERM: The tetm of this Agreement is for a period of two years commencing on March 1, 2010 and tenninating on the last day of February 2012 under the following terms and conditions. 2. RENT: LESSEE agrees to pay CITY rent for the Leased Premises in installments of fifty dollars ($50) per month, due and payable by the 1Oth day of each month of the Lease term. 3. TRIPLE NET AGREEMENT: The parties agree that this will be a fully net Agreement to CITY. In addition to the rent, LESSEE agrees to pay for all expenses attributed to the Leased Premises, including, but not limited to replacement value, fire insurance, liability insurance, and all maintenance necessary to maintain the Leased Premises in as good condition as Leased Premises are in at the commencement of the term of this Agreement. 4. PREMISES OF LESSEE: LESSEE agrees to provide property insurance on its Leased Premises and hereby releases and discharges CITY of and from any liability for damage to the Leased Premises of LESSEE while on the Leased Premises. 5. WARRANTIES: There are no warranties by CITY, and LESSEE, in executing this Agreement, is relying upon its own judgment, information, and inspection of the Leased Premises. 6. NO ALTERATIONS OR IMPROVEMENTS WITHOUT PRIOR CONSENT: Except for signage designating tenant parking uses and conditions, no temporary or permanent alterations, additions or improvements shall be made to the Leased Premises, nor shall any temporary or permanent sign or structure be placed upon the Leased Premises by LESSEE without first obtaining the written consent of CITY. All alterations, additions or improvements made by LESSEE shall be the property of CITY and surrendered with the Leased Premises at termination of this Agreement. 7. ENTRY BY CITY: CITY shall have the right to enter the Leased Premises at any reasonable time to examine the same and determine the maintenance and state of repair. 8. FIRE OR OTHER LOSS: If any portion of the Leased Premises shall be damaged by fire, the elements or other causes, CITY will cause the same to be repaired and restored unless caused by the acts or negligence of LESSEE or its employees, in which case LESSEE shall restore and repair the Leased Premises. If any portion of the Leased Premises is so damaged as to be unfit for use or occupancy, the rent of LESSEE shall be adjusted accordingly. If LEASE AGREEMENT- CITY AND CADILLAC JACKS PAGE I or 3 20IO·OL\ ---PAGE BREAK--- any portion of the Leased Premises is destroyed to the extent of fifty percent (50%) or more of its value, CITY may, at its option, tenuinate this Agreement rather than restore the Leased Premises. 9. INSURANCE: LESSEE agrees to carry and maintain a comprehensive general liability policy in the minimum amount of five hundred thousand dollars ($500,000) to protect the CITY from and against any and all claims, losses, actions, and judgments for damages or injury to persons or property arising out of or in connection with LESSEE's acts or performance under this Agreement related to the Leased Premises. 10. INDEMNIFICATION AND HOLD HARMLESS: LESSEE agrees to indemnify, defend, and hold harn1less CITY, and its officers, agents and employees, from and against any and all claims, losses, actions, or judgments for damages or injury to persons or property arising out of or in connection with the acts and/or any performances or activities of LESSEE, LESSEE's agents, employees, or representatives under this Agreement including, but not limited to, any and all claims, losses, actions, or judgments for damage or injury to person or property arising out of or in connection with the use of the provision, sale and/or use of alcohol. 11. HAZARDOUS WASTE: LESSEE agrees not to store, generate, or otherwise use or bring upon the Leased Premises any hazardous waste as defined by federal, state or local laws or re!,rulations. 12. TIME OF ESSENCE AND DEFAULT: Time is of the essence of this Agreement. If LESSEE defaults in any of the tenus of this Agreement for a period of ten ( 1 0) days after written notice of default has been sent by CITY, then CITY, at its option and in addition to all other legal and equitable remedies, may declare this Agreement forfeited and terminated and re-enter and repossess the Leased Premises. Upon such forfeiture and te1mination, all rights of LESSEE under this Agreement shall immediately tenninate. Provided, however, that nothing herein shall be considered an election of remedies or limitation of damages. 13. ASSIGNMENT OR SUBLETIING EXPRESSLY PROHIBITED: LESSEE shall not assign this Agreement nor sublet the whole or any part thereof without the written consent of CITY. 14. USE OF LEASED PREMISES: LESSEE shall use the Leased Premises exclusively for purposes of free parking of vehicles and/or tenant parking and shall at all times comply with all laws, regulations and ordinances. LESSEE shall not dispense or serve alcoholic beverages on Leased Premises or allow alcoholic beverages to be dispensed, served or consumed on Leased Premises. LESSEE'S use of the Leased Premises shall not be changed without the consent of CITY. 15. ENTIRE AGREEMENT: This is the entire Agreement of the parties and can only be modified or amended in writing by the parties. 16. A TIORNEY FEES: If action is brought to enforce the tenus or provisions of this Agreement, or to enforce forfeiture for default, or to collect damages for breach, the prevailing party in such action shall be entitled to recover from the losing party reasonable attorney fees together with costs authorized by law. In addition, LESSEE agrees to pay the sum of two hundred fifty dollars ($250) for costs and attorney fees for each notice of default served upon LESSEE by CITY. 17. SERVICE OF NOTICES: Any notice may be served upon CITY by certified mail to City Clerk, City of Moscow, Idaho, P 0 Box 9203, Moscow, Idaho, 83843, and any notice may be served upon LESSEE by certified mail to LESSEE at Philip Roderick, President, Cadillac Jack's, Inc., 112 North Main Street, Moscow, Idaho, 83843. Service of a notice by certified mail shall be deemed LEASE AGREEMENT- CITY AND CADILLAC' JACKS PAGE2 OF3 ---PAGE BREAK--- complete upon the date of the postmark by certified mail. Either party may change the address for services of notice by written notice to the other party. DATED this 1 '1 day of February, 2010. CITY: STATE OF IDAHO ) ) ss. COUNTY OF LATAH ) ACKNOWLEDGMENT On this ·vJ day of , 2010, before me, a Notary Public in and for said State, appeared Phil Roderick, known to me to be t person named above and acknowledged t t he executed the foregoing document as the duly authorized representative for Cadillac Jack's, Inc LEASE AGREEMENT- CITY AND CADILLAC' JACKS PAGE30f3