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COMMERCIAL LEASE <br /> This agreement, made this day of , 2024, between the City of <br /> Batesville, Arkansas, whose address is 500 E. Main St., Batesville, AR 72501 (LESSOR), and the <br /> Independence County Sheltered Workshop, Inc., whose address is 1550 Cottonwood St. <br /> Batesville, AR 72501. (LESSEE); WITNESSETH: <br /> 1. Leased Premises: For and in consideration of the rents, covenants, and agreements <br /> herein entered into and agree upon by the Lessee as obligations to the Lessor,the Lessor <br /> lets, leases, and demises unto Lessee, subject to the terms and conditions contained <br /> herein, the following described property situated in Independence County, Arkansas: <br /> a. Said property being commonly known as the building and surrounding real <br /> property situated at 300 Blossom Drive, Batesville, Arkansas 72501. <br /> To have and to hold the premises unto the Lessee for and during the term herein stated, <br /> subject to the covenants, terms, and conditions and liens herein contained. <br /> 2. Term: This lease shall commence on , and shall extend for a <br /> term of(8) years, ending at midnight on <br /> 3. Rent: In consideration of Lessee vacating the Batesville owned property located at 1550 <br /> Cottonwood St., Batesville AR by August 1, 2024 and by its signature hereto annuls any <br /> and all interest Lessee may have in a leasehold attached hereto and incorporated herein <br /> by reference there shall be no rents due until April 1, 2026. Thereafter, Lessee agrees to <br /> pay to Lessor for this lease monthly installments of $1,500 per month in year one, with <br /> 1of6 <br />