Terms & Conditions - Waveland Property Group, Inc.
16799
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Terms & Conditions

In consideration of the Lease of the Storage Units by Lessor to Lessee on the terms herein contained, the parties agree as follows:

 

  1. LEASEHOLD PROPERTY AND TERM: Lessor hereby leases to Lessee and Lessee hereby accepts the unit(s) set forth above (the “Unit”) on the Lessor’s property at 18801 S. Wolf Road Mokena, IL 60488. Storage Unit(s) ­­­­ (the “Premises”) for the Term set forth above. Lessee accepts the Unit in AS IS condition and Lessor has no obligation to repair or restore the unit in any manner whatsoever.

 

  1. RENT: Lessee shall pay the above monthly rent punctually on the first day of each month to Landlord’s agent as designated from time to time. Time is of the essence.  In the event this Lease commences on a day other than the first of the month, the initial rental payment shall be prorated on the basis of the calendar days remaining in said month. Upon execution of this Lease, Lessee shall pay to Landlord’s agent monthly rent for the initial month of the Term, monthly rent for the second month of the Term and the Deposit.

 

  1. SECURITY DEPOSIT: Lessee has deposited with Lessor the sum set forth above, as a security deposit for the performance of all the Lessee’s covenants hereunder. Within thirty (30) days from the termination of this Lease, Lessor shall return the security deposit to the Lessee, less an amount necessary to replace the lock, or to restore the Unit to the condition required by the terms of this Lease. All security deposits shall be returned to the billing addresses listed in this Lease unless Lessor is notified in writing by Lessee of an alternate address.

 

  1. REPAIR AND MAINTENANCE OF UNIT: Lessee covenants throughout the term of this lease, at its sole cost and expense, to maintain, and at the expiration of the term hereof, to yield up the Unit in good condition and repair, reasonable wear expected.  Lessee shall not make improvements to or install any fixtures in or on the Unit without prior written consent of Lessor, except Lessee may install or attach any lock without such permission. If Lessee is permitted to install any improvements or fixtures, Lessee, at Lessor’s option, shall remove the same at the termination of the Lease, and at its own expense, repair any damage to the unit resulting from the installation or removal. Lessee shall not suffer or permit at any time during the lease term any lien to attach to or against the Unit or the Premises. At Lessor’s option, the interest of Lessee in any property in any improvement or fixtures not removed shall vest in Lessor. Lessee agrees that any lock placed on the premises by Lessee can and will be removed by Lessor if Lessee is in default hereunder.

 

  1. USE OF THE UNIT: The Unit shall only be used for the storage of personal property and for no other purpose, including, but not limited to: Lessee shall not store explosive or highly flammable material goods in the Unit; Lessee shall not allow any noxious odor or liquid of any kind to escape from the Unit; and Lessee shall not use the Unit for any unlawful purpose.

 

  1. NON-LIABILITY LESSOR: (A) Lessee shall have no claim against Lessor and Lessor shall have no liability for any loss of or damage to Lessee’s property resulting from fire, explosion, vandalism, water damage, theft, or any cause, regardless of whether such loss or damage may be caused or contributed to by the negligence of Lessor, its agents or employees. (B) Lessor shall have no obligation to maintain insurance on Lessee’s property stored in the Unit. (C) Lessor shall have no liability to Lessee for any injury to Lessee or others caused by any condition existing near or about the Unit or the Premises resulting from the

 

  1. INSPECTION OF UNIT BY LESSOR: Lessee agrees to permit Lessor and any other authorized representatives of Lessor and any authorized municipal or other official to enter the Unit at any reasonable time during usual business hours (and to cut or otherwise remove any lock on the Unit which Lessor must remove in order to make such entry, so long as Lessor bears expenses of replacing such lock after such entry) for the purpose of (a) inspecting the unit, (b) making any necessary repairs to the Unit and (c) exhibiting the Unit to any prospective purchaser, mortgagee, or lessee.

 

  1. INDEMNIFICATION OF LESSOR: Lessee agrees to hold Lessor (and the holder of any mortgage on the Premises) harmless for any loss, damage, expense or claim by any person arising from the action or thing whatsoever done in the Unit or on the Premises by Lessee, its agents or employees at any time during the Term of the Lease.

 

  1. DEFAULT AND REMEDY: In the event of failure by Lessee to pay rent when due and such default continues for five (5) days after written notice to Lessee, Lessor shall have, in addition to all those remedies provided by law without waiving any thereof, the following remedies: (1) Lessor may impose a late charge of $25 as a late payment fee; and (2) in the event of the failure of Lessee to pay rent within five (5) days of the due date, the right to over lock and/or to re-enter and take possession of the Unit and its contents and, to the extent allowed by law, and upon reasonable notice to Lessee of the time and place, to sell such contents either at public or private sale, the proceeds of which shall be applied first to the expenses of sale, Lessor’s legal costs and delinquent rental, and balance remaining together with any unsold property, if any, to be delivered to Lessee. In addition, in the event of default by the Lessee under any provisions of this lease, Lessor shall have the right to cure such default and to charge such expense to the Lessee, together with interest at the rate of 8% per annum from the date such expense is undertaken, as additional rent, or to re-enter the Unit and terminate the Lease. Such re-entry shall not bar the right or recovery of rent or damages for breach of covenants, nor shall the receipt of rent after a default be deemed a waiver of forfeiture. In order to entitle Lessor to reenter, it shall not be necessary to give additional notice prior to such re-entry. Lessee shall pay all reasonable costs, attorneys’ fees and expenses that may be incurred by Lessor in enforcing the provisions of this Lease for non-payment or any other breach whatsoever.

No action or inaction by Lessor in enforcing any right or remedy shall act as a waiver of Lessor’s right to act in the future or otherwise enforce any rights of Lessor under the terms of this Lease or any rights or remedies available at law or in equity.

 

  1. ASSIGNMENTS: The interest of Lessee in this Lease may not be sublet, assigned or otherwise transferred in whole or in part by Lessee, or by operation of law without prior written approval of Lessor, which approval may be unreasonably withheld. The approval by Lessor to an assignment, subletting or other transfer shall not be deemed to be an approval of any other assignment, subletting, or transfer. Any assignment, subletting or other transfer without such approval shall, at the option of the Lessor, constitute a default under this Lease.

 

  1. NOTICE: Notices to be given under this Lease shall be in writing and sent by either electronic mail or overnight delivery service, or same day delivery. Notices shall be effective when sent if sent by electronic mail, or when received (or refused) if sent by delivery.  Notices shall be sent to the following:

To Lessor:                                              Flex Capital, LLC

 

 

To Lessee:                                         You Account Email

  1. SUBORDINATION: This Lease shall be subordinate to the lien of any mortgage now or hereafter existing against the Unit or Premises or renewals, modifications, consolidations, replacements and extensions thereof, and to all advances made or hereafter to be made upon the security thereof. Lessor is irrevocably appointed and authorized as agent and attorney-in-fact of Lessee to execute any  subordination instruments in the event Lessee fails to execute said instruments within five (5) days after notice from Lessor demanding the execution thereof.

 

  1. ABANDONMENT: If Lessee vacates or abandons the unit, its right to the possession of the Unit shall terminate.

 

  1. WAIVER OF SUBROGATION: Lessee, on behalf of himself and his insurers, hereby waives any right of subrogation against Lessor with respect to any insurance policy relating to the Unit or the Premises.

 

  1. MISCELLANEOUS : If any term or provision of this Lease or the application thereof to any person or circumstances shall be invalid or unenforceable, the remainder of this Lease shall not be affected thereby, and each term and provision of this Lease shall be valid and enforced to the fullest extent permitted by law. Time is of the essence of this Lease. The captions of the Lease are for convenience only and in no way shall affect the construction of the terms of this Lease.