TC Packet 01-09-2018Exhibit A
LEASE AGREEMENT
by and between
TRAER CREEK PLAZA LLC
as Landlord
and
Sauce on the Creek, LLC
as Tenant
For Unit No. 100
Lease Agreement by and between Traer Creek Plaza LLC and Sauce on the Creek, LLC
Exhibit B
LEASE AGREEMENT
THIS LEASE AGREEMENT,,,("Lease") is made and entered into by Landlord and Tenant (asdefinedbelow) as ofthis 11 day of November, 2017.
1. Basic Lease Provisions. The following set forth basic data referred to in this Lease,
including all exhibits to this Lease, and, where appropriate, constitute the definitions ofthetermshereinafterlisted.
A. Landlord and
E.
TRAER CREEK PLAZA LLC,
Mailing Address: a Colorado limited liability companyP.O. Box 9429
Avon, Colorado 81620
B. Tenant and Sauce on the Creek, LLC
Current Mailing a Colorado limited liability companyAddress: P.O. Box 5953
Dillon, CO 80435
C. Building: The commercial office and retail complex located at
0101 Fawcett Road Avon, Colorado and commonlyknownasTraerCreekPlaza, together with Lot 2, The
Village (at Avon) Filing 1 on which the Building is or istobeconstructedandallassociatedrights.
D. Premises: Unit 100 of the Building, the boundaries of which are
generally shown and depicted on Exhibit C attached
hereto and incorporated herein by this reference. The
Premises also includes the outdoor patio, including the
lalling, as well as the designated storage areas' -,-
E. Rentable Area: Approximately 3700 square feet of the Building. For
purposes of calculating rentable area for payment ofBaseRent, the leasable area is 3700 square fes --t t
F. Tenant's Trade Sauce on the Creek
Name:
G_ Lease Term: Ten (10) years, commencing on the "Commencement
Date' as defined herein and in the Terms a d
Conditions attached hereto as Exhibit A an
incorporated herein by this reference. 14
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zLeaseAgreementbyandbetweenTraerCreekPlazaLLCandSauceontheCreek, LLC
H. Renewal Options: One (1) renewal option for a Five t.,) year period upon
the terms and subject to the conditions for said option
set forth in this Lease, including (i) no default under the
Lease and (ii) no subletting or assignment of the
Lease. In the event that Tenant elects to renew this
Lease. Base Rent shall thereafter be assessed at
per square foot, per
annum, plus Percentage Rent as defined in Section
I.J.
I. Commencement The earlier of (i) possession of the Liquor License; or
Date: (ii) January 1, 2018.
J. Base Rent: During the Lease Term, at the rate of . _
per square foot, per annum, payable in equal
monthly installments, and proportionately at such rate
for any partial month.
Lease Agreement by and between Traer Creek Plaza LLC and Sauce on the Creek, LLC
ib) Limitations: Irrespective of any
authorized deductions from Percentage Rent or Gross
Receipts, in no event shall Tenant pay to Landlord less
than the full amount of the Base Rent and Additional
Rent to be paid by Tenant under this Lease.
c) Payment of Percentage
Rent: With respect to each Lease Year, beginning the
month in which Gross Receipts exceed the Breakpoint,
and for each month thereafter of such Lease Year,
Tenant shall pay with a certified statement of Gross
Receipts for that Lease Year, the estimated
Percentage Rent computed on Tenant's Gross
Receipts made during the month covered by the
statement. Percentage Rent shall be paid without prior
notice, demand, deduction or offset. Within thirty (30)
days after the end of each lease year during the Term,
Tenant shall furnish to Landlord a true and accurate
statement of the Gross Receipts for such lease year,
showing in detail all items, deductions, exclusions and
additions included in the calculation of Gross Receipts
for such year, the amount of all estimated Percentage
Rent paid for such lease year, and the actual amount
of Percentage Rent due for such lease year. Tenant
shall pay with such statement the balance of any
Percentage Rent due from Tenant for such lease
year. If Tenant has paid to Landlord an amount of
estimated Percentage Rent greater than the
Percentage Rent actually due for such lease year, then
Tenant shall receive a credit against Tenant's next
payment of Base Rent in the amount of such
overpayment. The provisions of this Section 'I.J(c)
shall survive the expiration or termination of this
Lease, and Tenant shall deliver to Landlord a written
statement as described above within thirty (30) days
afterthe end Gftite lease yearin which the Lease
Term expires or is terminated, prorated for the
applicable portion of such lease year. Any
overpayment to be returned by Landlord for the final
lease year shall be paid to Tenant along with the
Security Deposit as set forth in the Lease.
d) Tenant's Records: Tenant shall
deliver to Landlord a true and complete copy of
Tenant's federal and state tax returns within thirty (30)
days after the filing thereof during each year of the
Term. Tenant shall keep and preserve on the
Premises or at Tenant's principal place of business, for
a period of not less than three (3) years after the
delivery to Landlord of Tenant's certified statement for
each year, complete and accurate records of all 1-4
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Lease Agreement by and between Tmer C=k Plaza LLC and Sauce on the Creek, LLC
amounts received from business transacted on the
Premises. Such records shall be kept in a form that
will allow Landlord to exercise its option to audit
Tenant's records as more fully described in Section
1.J(e) below. However, in the case of a controversy
concerning the amount of Percentage Rent payable
pursuant to this Lease, Tenant shall keep and
preserve these records until the controversy has
ended. Landlord shall be entitled at reasonable times
during Business Hours, personally or through
authorized agents, at its own expense, to inspect and
make copies of these records, together with any other
documents bearing on Tenant's Gross Receipts.
e) Examination of Tenant's
Records: Upon Landlord's written request, Tenant
shall, within ten (10) days after Landlord's request
thereof, fumish to Landlord financial statements
outlining Tenant's then current financial
condition. Landlord may request financial statement(s)
not more than once per lease year during the Term
and shall use reasonable efforts to maintain all
financial information provided in a confidential manner,
provided, however, that the Landlord may disclose
such financial statements to Landlord's mortgagees or
prospective mortgagees or purchasers. Tenant shall
report sales in compliance with the Town of Avon and
PIC standard and required sales reporting measures.
At Landlord's option, Landlord may cause, at any
reasonable time upon seven (7) days' prior written
notice to Tenant but not more often than once each
Lease Year, a complete audit to be made of Tenant's
books, records and accounts in order to verify the
Gross Receipts reported by Tenant for the period
covered by any statement issued by Tenant. If such
sudit shail uisciose a liability for Percentage Rent Cif
five percent (5%) or more in excess of the Percentage
Rent computed and paid by Tenant for such period or
if such audit shows that Tenant has failed to maintain
its books, records and accounts so that Landlord is
unable to verify the accuracy of Tenant's statements,
Tenant shall promptly pay to Landlord the reasonable
cost of said audit and any shortfall Percentage Rent. If
such audit shall disclose a liability for Percentage Rent
of less than five percent (5%) of the Percentage Rent
computed and paid by Tenant for such period,
Landlord shall promptly pay the reasonable cost of
said audit, provided Tenant shall still remain liable for
shortfall of Percentage Rent. "Gross Receipts' as used
in this Lease shall include the entire gross receipts of
every kind and nature from sales and services made
Lease Agreement by and between Traer Creek Plaza LLC and Sauce on the Creek, LLC
ua a1" NayauIc iv ....._-
Lease Year.
K. Tenant's Estimated In a=rdance with the terems of thi_ Lease and Exhibi
Additional & beginning on the Commencement Gate, Tenant
Payments: shall pay its pro rata share of all common area
maintenance costs, insurance and taxes (including a
i, which are currently estimated
at e
foot per annum, to be reconciled annually (Lanoiord
has no liability for the accuracy of the estimate). Such
additional payments shall be payable in equal monthly
installments, and proportionately at such rate for any
partial month.
Lease Agreement by and between Traer Creek Pian LLC and Sauce on the Creek, LLC
not be responsible for common area maintenance
costs associated with the outdoor patio except as
provided Section 1.D above.
L. Permitted Use: Tenant shall be permitted to use the Premises for a
restaurant and bar, including outdoor seating on the
patio, and for no other purposes whatsoever.
M. Landlord Address Traer Creek Plaza LLC
for Payment of P.O. Box 9429
Rent: Avon, Colorado 81620
N. Landlord Address Traer Creek Plaza LLC
for Notice: 0101 Fawcett Road, Suite 210
Avon, Colorado 81620
Attention: Marcus Lindholm
Telephone: 970-748-4995
Facsimile: 970-748-8900
O. Tenant Address Sauce on the Creek, LLC
for Notice: 0101 Fawcett Road, Suite 100
Avon, Colorado 81620
Attention: Shervin Rashidi
P. Security Deposit:
L1!
R.
i during the Lease Term.
Lease Agreement by and between Traer Creek Plaza LLC and Sauce on the Creek, LLC
and Tenant opening for business for 30 business days.
S.
T.
U.
V. Maintenance of
Common Areas:
W. Outdoor Seating: Landlord hereby consents to the installation and use of
outdoor seating on the adjacent patio by —I IAsubjecttoVillage (at Avon) Design Review Board
approval.
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Cease Agreement by and between Traer Creek Plaza LLC and Sauce on the Creek, LLC
Y.
L.
AA.
9 +
Lease Agreement by and between Ther Creek Plaza LLC and Sauce on the Creek, LLC
BB. ADA Compliance Landlord agrees that, outside the Premises, it shall be
responsible for compliance with the Americans with
Disabilities Act (42 U.S.C. §12101 et. Seq.) and the
regulations and Accessibility Guidelines for Buildings
and Facilities issued pursuant thereto.
Notwithstanding the foregoing, should Tenant improve
the Premises or any area outside the Premises (to be
approved by Landlord), then Tenant shall be
responsible for compliance with the American with
Disabilities Act (42 U.S.C. §12101 et. Seq.) and the
regulations and Accessibility Guidelines for Buildings
and FaciiRies issued pursuant thereto
CC.
go
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Lease Agreement by and between Traer Creek Plaza LLC and Sauce on the Creek, LLC
2. Additional Lease Provisions. In addition to the terms, covenants and agreements
contained in this Lease, the use and occupancy of the Premises is also subject to the
terms, conditions, covenants, rules, restrictions, and agreements contained in the
following exhibits, all of which are hereby incorporated into this Lease by this reference.
In the event of a conflict between the provisions of this Lease and any Exhibits, this
Lease shall control:
A. Exhibit A: Terms and Conditions.
B. Exhibit B: Legal Description.
C. Exhibit C: Premises.
D. Exhibit D: Construction.
E. Exhibit E: Sign Criteria.
F. Exhibit F: Rules and Regulations.
G. Exhibit G: Landlord's Property
3. Facsimiles and Counterparts. This Amendment may be executed in any number of
counterparts, each of which shall be deemed an original with the sa effect as if the
signatures thereto and hereto were upon the same instrument. F imile or electronic
signatures shall have the same force and effect as original signatures.
Isi<gnaslires Oir "1010OW"Otg pages
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Lease Agreement by and between TraerCreek Plaza LLC and Sauce on the Creek, LLC
IN WITNESS WHEREOF, the parties subscribing hereto have set forth their hands as of thedatefirstwrittenabove.
LANDLORD:
TRAER CREEK PLAZA LLC, a Colorado limited
liability company
By: TRAER CREEK LLC, its Manager
By:
Name: Marc Lindholm, its Ma ager
TFN5NT-
Lease Agreement by and between Traer Creek Plaza LLC and Sauce on the Creek, LLC
LL
Exhibit C
Exhibit D
Exhibit E
TOWN OF AVON, COLORADO
AVON LIQUOR LICENSING AUTHORITY MEETING MINUTES FOR TUESDAY, DECEMBER 12, 2017
AVON TOWN HALL, ONE LAKE STREET
Page 1
1. CALL TO ORDER AND ROLL CALL
Chairwoman Fancher called the meeting to order at 5:01 p.m. A roll call was taken and Board members
present were Sarah Smith Hymes, Scott Prince, Jake Wolf, Amy Phillips and Megan Burch. Matt Gennett
arrived at 5:02 p.m. Also present were Town Attorney Eric Heil, Police Chief Greg Daly, Assistant Town
Manager Scott Wright, Human Resources Director Lance Richards, Recreation Director John Curutchet,
Deputy Town Manager Preston Neill and Secretary Debbie Hoppe.
2. APPROVAL OF AGENDA
There were no changes to the agenda.
3. PUBLIC COMMENT – COMMENTS ARE WELCOME ON TOPICS NOT ON THE AGENDA
No public comments were made.
4. PUBLIC HEARING FOR NEW BEER AND WINE LIQUOR LICENSE
Start time: 01:05
4.1. Applicant Name: Fancy Pansy, LLC d/b/a Fancy Pansy
Location: 51 Beaver Creek Place, Unit #2
Type: Beer and Wine Liquor License
Owner: Frankie Sheridan
Action: Resolution No. 17-02
Chairwoman Fancher opened the public hearing and no comments were made. Frankie Sheridan was
present to answer any questions.
Board member Burch moved to approve resolution 17-02, a resolution approving the application of
Fancy Pansy, LLC d/b/a Fancy Pansy for a Beer and Wine Liqour License. Board member Phillips seconded
the motion and it passed unanimously by Board members present.
5. RENEWAL OF LIQUOR LICENSES
Start time: 03:43
5.1. Applicant: Columbine Bakery, Inc. d/b/a Columbine Bakery
Location: 51 Beaver Creek Place
Type: Hotel and Restaurant License
Manager: Daniel Niederhauser
The application was presented with no concerns. Board member Prince moved to approve the renewal
application for Columbine Bakery, Inc. d/b/a Columbine Bakery. Board member Phillips seconded the
motion and it passed unanimously by Board members present.
6. RENEWAL OF ART GALLERY PERMIT
Start time: 04:28
6.1. Applicant: Vail Valley Art Guild d/b/a Art in the Valley Gallery
Location: One Lake Street
Type: Art Gallery Permit
Manager: Rosalind Reed
The application was presented with no concerns. Board member Wolf moved to approve the renewal
application for Vail Valley Art Guild d/b/a Art in the Valley Gallery. Board member Phillips seconded the
motion and it passed unanimously by Board members present.
TOWN OF AVON, COLORADO
AVON LIQUOR LICENSING AUTHORITY MEETING MINUTES FOR TUESDAY, DECEMBER 12, 2017
AVON TOWN HALL, ONE LAKE STREET
Page 2
7. REPORT OF CHANGE – CHANGE OF MANAGER
Start time: 06:31
7.1. Applicant: Miller’s Bottle Shop, LLC d/b/a Joe’s Liquors
Location: 1060 W. Beaver Creek Blvd
Manager: William Holm
The application was presented with no concerns. Vice Chairwoman Smith Hymes moved to approve the
report of change application for Miller’s Bottle Shop, LLC d/b/a Joe’s Liquors. Board member Phillips
seconded the motion and it passed passed unanimously by Board members present.
8. MINUTES FROM NOVEMBER 14, 2017
Start time: 07:05
Board member Burch moved to approve the minutes from the November 14, 2017, Liquor Authority
meeting. Vice Chairwoman Smith Hymes seconded the motion and it passed passed unanimously by
Board members present.
9. ADJOURNMENT
There being no further business to come before the Board, Chairwoman Fancher moved to adjourn the
liquor meeting. Board member Burch seconded the motion and it passed unanimously by Board
members present. The time was 5:07 p.m.
RESPECTFULLY SUBMITTED:
____________________________________
Debbie Hoppe, Secretary
APPROVED:
Jennie Fancher ______________________________________
Sarah Smith Hymes ______________________________________
Jake Wolf ______________________________________
Megan Burch ______________________________________
Matt Gennett ______________________________________
Scott Prince ______________________________________
Amy Phillips ______________________________________