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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 1 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 4 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. 8 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 10 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 11 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 ______________________________________