This contract is a mutual agreement to rent space according to the terms specified below and attached. As such, Zèle L.L.C. agrees to rent retail space under the provisions set below to ________________________________________________, herein referred to as “Vendor”, and Vendor agrees to pay monthly for the retail space described below. By signing, both parties agree to abide by, commit to, and perform all conditions stated in this lease.
Upon signing this lease, Vendor agrees to pay a deposit in the amount of $_________. Deposit is paid to reserve the agreed upon space. Once Vendor takes possession of space, deposit becomes security to cover damages beyond general wear and tear. Deposit may not be used as first or last month’s rent. Deposit will be returned when Vendor vacates and returns space to its original condition with the exception of normal wear and tear. If damage has occurred during tenancy, Vendor can repair/restore the rental space or damage will be deducted from deposit.
2. TERM and TERMINATION:
Rental space requires a minimum commitment of 3 months. If Vendor wishes to end this lease after the initial 3 months, 30 day written notice is required. Failure to notify Zèle of intent to vacate, in writing 30 days prior to expiration, will result in an automatic month to month renewal of this lease. Upon expiration of the initial 3 month term, if Vendor does not wish to commit to a specific term, lease continues on a month to month basis, or Vendor can choose to reinstate this lease for an additional 3, 6, or 12 months.
Termination of lease requires 30 day written notice, and is only applicable after Vendor has rented for the initial 3 month period. No exceptions! Even if Vendor has a term lease, Zèle has the right to terminate, with 30 day written notice (email included), if Vendor incurs 3 late charges, does not maintain rental space and inventory, violates any conditions stated in this lease, or if owner determines Vendor/inventory to be an incompatible match.
Upon vacating, all items must be removed, walls painted with original color supplied by Zèle, and the floor cleaned. For a fee, Zèle will clean and paint.
Rent for space _______, in the amount of ____________, is due on the 15th of each month, payable to Zèle #### Magazine St. New Orleans, LA 7011#. No Exceptions! Cash or check made payable to Zèle; $30.oo fee on all returned checks.
If Vendor moves in or out on a day other than the 20th of any month, rent will be prorated based on the number of days in the coinciding month.
Rent is considered late after the 24th of each month. A late fee of $30.00 will be charged on the 25th. Rent, along with the late fee, will be deducted from Vendor sales if it is not paid by the 5th of the following month.
4. RENTAL SPACE:
Zèle agrees to surrender rental space in excellent condition with walls painted white. Vendor also agrees to return rental space to original state, in good condition, with the exception of normal wear and tear.
Zèle will provide booth and wall space that offers the option to hang items. Zèle can set up booth space and provide additional hardware or shelving for a fee.
Vendors are responsible for setting up their own rental space and must provide their own shelving, hardware, hangers, etc. when renting a booth. Zèle display cabinets are equipped with shelving at no extra cost.
Vendor must keep all items within their confined rental space. Items are not allowed to extend into aisles.
Spaces must be kept neat and clean. Zèle owners and employees will clean and maintain the store. Vendor must dust and clean their own merchandise and rental space each time they come in to restock.
Space absolutely cannot be set up like, or even resemble, a flea market or garage sale. NO EXCEPTIONS!
No adult content, porn, or paraphernalia; No firearms; No fireworks; No open flames; and No drug paraphernalia.
All repaired items must be marked “As Is”.
Vendor must tag each individual item. To avoid tag switching, each item must clearly state: Vendor name, price, space number, and proper description identifying the item. No exceptions! If Vendor fails to tag merchandise with clear and legible information, Zèle has the right to price and sell the item at owner/management’s discretion.
Zèle has the right to refuse any merchandise including items that are too similar or exact that of another Vendor.
12% commission on all sales will be paid to Zèle. Commission will be deducted from total monthly sales. Vendor sales commission checks will be available on the 15th of each month. Sales commission totals will include all sales from the 1st day of the month to the last day of the month.
Rent cannot be deducted from Vendor sales unless rent is past due as stated in number 3.
Zèle assumes no responsibility for lost, stolen, or damaged items. There is no liability! Written or implied! Zèle will take all measures to keep Vendor inventory secure such as surveillance cameras and monitored security system.
Zèle will maintain all required insurance. Zèle’s insurance does not cover Vendor inventory. Vendor is responsible for his or her own inventory and may or may not opt to maintain insurance coverage on merchandise. Vendor is encouraged to purchase insurance to cover inventory.
9. CITY, STATE AND FEDERAL TAX:
Zèle will pay the required city and state sales tax on all items sold. Vendor will receive detailed monthly reports and a 1099 at the end of the year. Vendor is responsible for filing all required, annual, federal, and state tax forms.
10.Credit Card and NSF Fees:
Vendor will absorb all credit card fees (not to exceed 3.5%) and NSF fees.