Sample Business Contracts

Nebraska-Fremont-905 South Downing Street Building Improvement Lease - Oilgear Co. and County of Dodge, Nebraska

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  • Commercial Lease. Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
  • Commercial Sublease. When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
  • Sublease Agreement. Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
  • Triple Net Lease. Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
  • Office Space Lease. When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.

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                                                                  EXECUTION COPY

                              THE OILGEAR COMPANY,

                                   as Lessor


                           COUNTY OF DODGE, NEBRASKA,

                                   as Lessee


                           BUILDING IMPROVEMENT LEASE

                          Dated as of October 1, 1997

<PAGE>   2


         THIS BUILDING IMPROVEMENT LEASE is made and entered into as of the 1st
day of October, 1997 by and between THE OILGEAR COMPANY, a Wisconsin
corporation ("Company"), as lessor, and COUNTY OF DODGE, NEBRASKA, a political
subdivision of the State of Nebraska ("Issuer"), as lessee.

         Company, in consideration of the covenants of Issuer hereinafter set
forth, does by these presents lease to Issuer the buildings and improvements
described at Appendix A hereto situated upon a parcel of land located at 905
South Downing Street, Fremont, Nebraska, more specifically described at
Appendix B hereto.

         TO HAVE AND TO HOLD the same unto Issuer from, on and after the date
hereof to the termination date of that Lease Agreement dated as of October 1,
1997 by and between Issuer, as lessor, and Company, as lessee, but in no event
earlier than the first date on which the Bonds are no longer Outstanding under
the Indenture (as such terms are defined by such Lease Agreement), and Company
warrants to Issuer the peaceful and quiet enjoyment of the premises hereby
leased for and during the term hereof.

         Issuer, in consideration of the leasing of the premises as above set
forth, has agreed with Company to pay Company as rent for the use of the same
the sum of Ten Dollars ($10.00) per year, which rent has been paid by Issuer
for the entire term, the receipt and sufficiency of which are hereby
acknowledged by Company.

         Issuer further covenants with Company that at the expiration of the
term of this Building Improvement Lease peaceable possession of said premises,
together with any improvements, fixtures, equipment and furnishings now or
hereafter situated thereupon during the lease term, shall be given to Company.

         It is further covenanted and agreed between the parties hereto that
the leased premises shall be used only in accord with the Nebraska Industrial
Development Act, Chapter 13, Article 11, Reissue Revised Statutes of Nebraska,
1943, as amended.

         If Company or Issuer acquires the interest of the other in the
premises, including pursuant to the Lease Agreement, there shall be no merger
of the leasehold estate granted hereby into (i) the fee simple estate in the
property, or (ii) any leasehold estate superior to that of Issuer.

         The covenants herein shall extend to and be binding upon the
successors and assigns of the parties to this Building Improvement Lease.

<PAGE>   3

         IN WITNESS WHEREOF, the parties hereto have caused this Building
Improvement Lease to be executed by their duly authorized officers as of the
day and year first written above.

                                               THE OILGEAR COMPANY

                                               By     [SIG]
                                                  Vice President, Finance

[SEAL]                                         COUNTY OF DODGE, NEBRASKA


By     [SIG]                                   By  Dean T. Lux
   -----------------------                        ------------------------------
   County Clerk                                   Chairman, Board of Supervisors