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Home My WebLink About918791 .~ .,\1 t5 ;... ~[ baS ~ 0 -- u .8 0 ..: 00 ';;;1 .."" f'þt;'-I ~ .... c""' õ f! t; >-. I~~~~ .... ..c;::. 11" ,~ ~ ~ ."t r.;.~ "'.; " (:1 f.[? ~~ ,1) ~ ~;IJ'" " - '.,~ ,;.....:1' '1 : ,:f~',~ ,~¡; 'J ¡,~ I-)\. r:1C'\':~'7 '..' '.i ~t~,.,....,~ ( / WHEN RECORDED RETURN TO: Mountain West Small Business Finance 2595 East 3300 South Salt Lake City, Utah 84109 RECEIVED 5/25/2006 at 4:08 PM RECEIVING # 918791 BOOK: 621 PAGE: 237 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Lease .../--- 1. The Parties and The Property. Wapiti Management, LLC, a Wyoming limited liability com- pany, hereinafter referred to as "Lessor", hereby leases to Aspen Physical Therapy, LLC hereinafter referred to as "Lessee", a portion of those premises and personal pre pertySlfuãTe,-Tying and being in the County of Lincoln, State of Wyoming, commonly known as 121 North Washhgton Street, Suite C, Afton, Wyoming 83110 and more particularly described in Exhibit "A" which is attached hereto and incorporated herein by this reference (the "Property"). 2. The Term. TO HAVE AND TO HOLD the Property, together with the appurtenances, unto the Lessee for a term of approximately twenty (20) years commencing April 6, 2006, for and during the latest of April 6, 2026 or until the SBA 504 Loan under SBA Loan Authorization No. 90971240-03 is paid in full. 3. The Lease Payment. Lessee covenants and agrees to pay Lessor a lease payment in the sum of $ 6 GOO - on the fIrst day of each month during the term of this Lease provided, however, that the amount of rent paid must be substantially the same as the debt service on the Third Party Lender Loan and the SBA 504 Loan together with an amount necessary to cover taxes and assessments, utilities and insurance and a repair/replacement reserve. The lease payment shall be reduced to the extent that it is in excess of the amount needed to meet the debt service and expenses. In the event there is more than one operating company under the terms of the SBA Loan, the lease payments of all operating companies shall be considered together and shall be reduced, pro rata, in the event, when considered together, they are in excess of amount needed to meet the debt service and expenses above described. 4. The Return of the Property. Lessee further agrees to deliver up to Lessor at the expiration of said term in as good order and condition as when the same were entered upon by Lessee, reasonable use and wear thereof and damage by the elements excepted. 5. No Sublease or Assie:nment. The Lessee will not let, underlet, assign the Property, or any part thereof, without the prior written consent of Lessor, which consent will not be unreasonably withheld. 6. Default/Remedies. And Lessee further covenants and agrees that if any montWy lease payment or any part thereof shall be unpaid for 20 days after the same shall become due; or if default in any of the cove- nants herein contained to be kept by Lessee is not cured within 20 days from written notice, or if Lessee shall vacate such premises, Lessor may elect, without notice or legal process, to re-enter and take possession of the Property and every and any part thereof and re-Iet the same and apply the net proceeds so received upon the amount due or to become due under this lease, and Lessee agrees to pay any defIciency. :> 7. Utilities. Taxes and Insurance. Responsibility for utilities, taxes and insurance shall be as indicated [Lessee responsible for (T), Lessor responsible for (L)]: Powerl, Heatl, Waterl, Sewerl, Telephonel, Real Property Taxl, Personal Property Tax.I., Fire Insurance on Personal Property.I., Glass Insur- ancel, Others: None 8. Maintenance and Repair. Responsibility for the maintenance and repair of the Property shall be as indicated [Lessee responsible for (T), Lessor responsible for (L)]: RootL.., Exterior Walls..1.., Interior Walls...1.., Structural Repair...1.., Interior Decoratingl, Exterior Painting...1.., Yard Surfacing...1.., Plumbing Equipment ,,-.'....,.',:,;,:,..:.', ~:t~~¡~~it{,:: C 'J!_'-"""¡',".",'. .~"~".!.'_,":. ;';"",'~h"~'>'" "",,'C.,;;.,, ¡";;,::,'"",,", ~~ ,. '·'r,Ù:,i',.",.".....;,¡:.J,:.·~.., ,-, .,~ '.',', c'," '..,....'!...!..t...!,. ,'. _ . ~,~'JCt1".·".;~"'q,,,',:,'.'-~,,:-:~l:":t:!.:..:£:_L;- r~ il\J¡ ~i¡ 'F·,.~, \ .." fÜ..::d.f.:¡ ..'J..... (. :Î n " r 8 \ . ~. t ~, - J ,-' \,..: .......'OJ 1..., Heating and Air Conditioning Equipment...1..., Electrical Equipment...1..., Light Globes and TubesL, Glass BreakageL, Trash RemovalL, Snow Re- movalL, JanitorialL, Others: None 9. Ne!!lieence. Each party shall be responsible for losses resulting from negligence or misconduct of himself, his employees or invitees. 10. Lessor's Lien. Furniture, furnishings and personal property of Lessee may not be removed from the premises until all lease payments and other charges are fully paid, and Lessor shall have a lien upon said personal property until the same are paid in full. 11. Attornev's Fees and Collection Costs. In case of failure to faithfully perform the terms and covenants herein set forth, the defaulting party shall pay all costs, expenses, and reasonable attorneys' fees result- ing from the enforcement of this agreement or any right arising out of such breach. 12. SBA Loan Requirements. In consideration of SBA Loan No. 90971240-03, Lessor and Lessee agree as follows, anything to the contrary notwithstanding: (a) The term of this Lease shall be equal to or longer than the term of the said SBA Loan; (b) Lessor and Lessee hereby assign, set over, and transfer to the Small Business Administration and Deseret Certified Development Company all of their right, title, and interest in and to this Lease, as security for said SBA Loan; and (c) Lessor and Lessee hereby agree to maintain exactly the present ownership (both identity of owners and percent of ownership) during the entire term of said SBA Loan except for ownership changes of up to 5 per cent beginning six months after the SBA 504 Loan closes. 13. No Other Aereements. This agreement supercedes and replaces any and all previous lease agreements between the parties; and said previous lease agreements are hereby canceled by the mutual consent of the parties. This Lease is executed and effective April 6, 2006. LESSOR: WAPITI MANAGEMENT, LLC By: Greg R. ~ber By: (!LJ-gL Chet A. Erickson, Member By: -/2 ~~~Æ- Dean P . Walker, Member lli~~a~mmf f~fj~~~!1~;¡~I~Ir: ,'....".'.-,..""...,¡, .: ,: _, ' , . ,', ·.:o~.~O:'·I:' '.',' , .: ' ".. ;~,c, "!.'."~;,\::',-,-,:~~c,'.!,~ .c,~..:..,," "r.. ' 0' ("'~"'à ¡(.-"i-"'j~"'." - .....1 ~1'..~ t~ f" ~j ¿I r .'"\ t"', ' ',r 9 .~) lJ l~. ~,~~ LESSEE: ASPEN PHYSICAL THERAPY, LLC By: Greg R. B~er STATE OF Wyoming COUNTY OF Lincoln :ss. ) The foregoing instrument was acknowledged before me this April 6, 2006 by Greg R. Burton, Chet A. Erickson, and Dean P. Walker, Members, Wapiti Management, LLC and Quality Quick Lube LLC. ~ çjþ~ ¿r-r // Notary Public RON THOMAS .Notary Public State of County of Wyoming Lincoln My Commission Expires June 6, 2006 STATE OF Wyoming COUNTY OF Lincoln :ss. ) The foregoing instrument was acknowledged before me this April 6, 2006 by Greg R. Burton, Manager, Aspen Physical Therapy, LLC . v4 ~ð1/~ ---,. Notary Public RON THOMAS e. Notary Public County of State of Lincoln Wyoming My Commission Expires June 6, 2006 'I'~I'~.!.';"'; "';',: ';f", ',' ,I;.~...,!;I'I.",.,. .... ""'··",;:"'¥L!"'J'':;~I'r::_:d!'~'"-';',''~:;:I.'I!i'¡:j.;:;''''',:;:-.:,:;'V· ., ,.","';'1',',',"".'::,','1. ".' - . :;.:: '..'...~¡~, :';':", ..l)G·~ ~.'~Û,'" , "-7 ..~". \.~ '- J 1L :(¡r'40 \"~ "... \.) t-.- ", SBA 504 Loan No.: 90971240-03 EXIllBIT A The land described in the foregoing document is located in Lincoln County. State of Wyoming and is described more particularly as: Lot 1 of Star lA' Addition to the Town of~pine, Lincoln County, Wyoming aE described on the nfficial plat Nu.168-B fi1~d on May 24~ i005 as instrument No. 9086<3 (}f the recol:'ds of the Lincoln County Clerk. ~m~{l~