Note: You are entering into a binding agreement for the full amount of the Lease Agreement plus surcharges, if appropriate. No refunds, credits or discounts will be made other than as addressed in the Lease Agreement. *
In the event any balance of Lease amount owed is not paid when due, at the option of Lessor, any reserved space shall be released, and the amount paid shall be forfeited. The entire balance of Lease amount owed as listed in this Lease Agreement must be paid in full. Failure to pay the entire balance of Lease amount owed will result in a debt collections case being opened against you and your business, your Alaska Permanent Fund Dividend may also be garnished until your debt is paid in full.
5.FOOD AND MERCHANDISE
If no charge is shown on the Vendor Lease Agreement and/or included on the Vendor’s Invoice, at Food Vendor rates, Vendor agrees that Vendor shall not sell, from the Leased Space, food or beverage products which are reasonably determined by Lessor, in its discretion, to be generally intended for consumption at or near the point of sale. Vendor also agrees that if Vendor sells merchandise, it shall only sell new items or items, which Lessor determines in its discretion, to be authentic antiques or collectibles generally recognized as valuable among a broad base of collectors, and shall not sell garage-sale type items. Should Vendor fail to comply with these restrictions, this shall be a breach of this lease by Vendor and Lessor shall have the immediate right to terminate this lease and exercise other remedies available to the Lessor.
6.ANCHORAGE MARKET AREA
The Anchorage Market Area is more particularly described as that area encompassing the area known as the “Chinook Parking Lot” located at 225 E Street, Anchorage, AK 99501.
7.LESSOR’S RIGHT TO SUBSTITUTE SPACE/LIMITS ON LEASED SPACE
Lessor reserves and Vendor grants the right to Lessor to substitute spaces other than the Leased Space, at any time and for any reason whatsoever, in Lessor’s sole and absolute discretion, provided that Vendor is given the number of spaces and total square-footage in the Anchorage Market Area for which Vendor has paid, in advance, the rental charges set forth herein. Vendor specifically acknowledges and agrees that the Leased space shall include only the area of the surface of the Anchorage Market Area (and the air space above this area, to a height of 15 feet) within the area designated as the Leased Space. This lease confers no right with respect to the subsurface below the surface of the Anchorage Market Area; no right with regard to air space above a height of 15 feet; and no right to an easement for light or air.
Except for those matters caused solely by Lessor’s intentional (as opposed to negligent) actions, or those of its agents, servants, employees, or contractors, Vendor shall indemnify, defend, and save and hold Lessor harmless from and against any and all claims, suits, actions, damages, liabilities or expenses (including actual attorney’s fees and costs) arising from or out of, or in any way related to or connected with, Vendor’s occupancy of the Leased Space or the use by Vendor or its agents, servants, employees, or contractors, guests, or invitees of the Leased Space or the Anchorage Market Area.
1.Should Vendor default in payment or performance of any obligation of Vendor hereunder, Vendor agrees that Lessor shall have, in addition to each and every remedy available at law or in equity, the following rights and remedies which may be exercised by Lessor at its discretion and without prior notice to Vendor: the right to self-help enforcement of Vendor’s obligations and Lessor’s rights, the right to specific enforcement of Vendor’s obligations, the right to immediate possession of the Leased Space, the right to physically remove all of Vendor’s property, from the Leased Space and from the Anchorage Market Area, and the right to store, dispose, or discard any or all of such property at Lessor’s sole discretion and at Vendor’s expense and on Vendor’s account.
2.Lessor reserves the right to terminate this lease at any time, to shorten the term of this lease by months, by weeks, by days, by hours, or by minutes, and to make different, fewer, or less Leased Space available to Vendor, for any reason or for no reason, all in Lessor’s sole and absolute discretion, and without prior notice to Vendor.
3.Lessor shall only be required to refund pre-paid charges to Vendor if Lessor cannot provide Vendor the same number of spaces called for hereunder or if a presently scheduled Anchorage Market does not occur at all. In such event, Lessor shall refund to Vendor only that portion of Vendor’s pre-paid rental charges applicable to the amount of space Lessor did not make available to Vendor or applicable to the Anchorage Market that did not occur. Vendors who do not occupy reserved or pre-paid space by 9:00 a.m. on a Leased day have forfeited the right to the space and any rent or deposit monies, freeing Lessor to reassign the space(s) to another or other Vendors, for the balance of that day.
10.VENDOR’S EXCLUSIVE REMEDY
Vendor acknowledges and agrees that its sole and exclusive remedy under this lease shall be to require Lessor to refund rental charges not earned by Lessor as set forth herein. Vendor specifically waives any and all other rights or remedies which might otherwise be available to Vendor at law or in equity, specifically including the right to seek damages, including but not limited to lost profits, whether special, incidental, consequential or otherwise, except only the right to seek reimbursement of pre-paid rents not earned by Lessor as set forth herein.
Vendor acknowledges and agrees that it has reviewed, read and understands the Anchorage Market Vendor Handbook (“Handbook”) provided by Lessor. All of the terms and provisions of the Handbook are incorporated into this lease, are a part of this lease, and define and limit rights and responsibilities of Lessor and Vendor. Specifically, the Handbook contains important provisions, which, among other things, set forth Lessor’s rules and regulations and place restrictions on Vendor’s use of the Leased Space. By signing this lease, Vendor accepts and agrees to be bound by these, and all other terms and provisions set forth in the Handbook.
- 20 Anchorage Market Food Vendor Supplement to Vendor Handbook
Vendor’s selling food prepared onsite and/or intended for consumption onsite, acknowledges and agrees that it has reviewed, read and understands the 2020 Anchorage Market Food Vendor Supplement to Vendor Handbook (“SUPPLEMENT HANDBOOK”) provided by Lessor. All of the terms and provisions of the 2020 Anchorage Market Food Vendor Supplement to Vendor Handbook are incorporated into this lease, are a part of this lease, and define and limit rights and responsibilities of Lessor and Vendor. Specifically, the 2020 Anchorage Market Food Vendor Supplement to Vendor Handbook contains important provisions, which, among other things, set forth Lessor’s rules and regulations and place restrictions on Vendor’s use of the Leased Space. By signing this lease, Vendor accepts and agrees to be bound by these, and all other terms and provisions set forth in the 2020 Anchorage Market Food Vendor Supplement to Vendor Handbook.
Anchorage Market 2020 Payment Plans
- Vendors who select this option and/or Vendors that are not offered an extended payment option are required to pay their balance in full for the terms of this lease when due.
- Extended Payment Options:
Option 1: Standard Payment Terms
All Anchorage Market signed lease agreements that have requested this option require a minimum of 50% of total contracted amount to be paid at time of the lease signing and the remaining balance to be paid on or before February 7, 2020; unless another optional payment plan is accepted.
Option 2: Standard Payment Terms
All Anchorage Market signed lease agreements that have requested this option may elect to pay 25% of the total contracted amount at each of the following intervals: lease signing; February 7, 2020; June 1, 2020 and July 1, 2020.
Option 3: Monthly Payment Option: Standard Payment Terms
Lease payments for Vendors who lease 7 or more Saturdays and 7 or more Sundays may be extended into smaller amounts that are payable during the operating season of Anchorage Market. A surcharge of $5.00 per space and per Leased weekend will be added to Leased amount. A down payment of $250 for Regular Vendors and $500 for Food Vendors is due at lease signing. Monthly payment amount will be calculated by number of months from the date lease is signed until the final payment date of July 1, 2021 and rounded to the nearest +$10). Monthly payments are due on the first day of each month with a grace period until the fifth day of each month, no later than 12:00 PM on the date due. Payment is due even if Vendor fails to participate, for any reason or no reason at all. Vendors should make their month installment payment directly through the Vendors invoice or by contacting Lessors’ office during regular business hours.
Option 4: Weekly Payment Option
Lease payments for Vendors who lease 7 or more Saturdays and 7 or more Sundays may be extended into smaller amounts that are payable during the operating season of Anchorage Market. A surcharge of $10.00 per space and per Leased weekend will be added to Leased amount. A down payment of $250 per space for Regular Vendors and $500 per space for Food Vendors is due at lease signing.
Weekly payment amount will be calculated by number of weekends from first Leased day until August 8th, less 1 and rounded to the nearest +$10). Weekly payments are due each Saturday, no later than 12:00 PM. Payment is due even if Vendor fails to participate, for any reason. Payment for missed weekend, or weekends, must be made by 12:00 PM on the next Leased Saturday. Anchorage Market Manager will make one collection run between 10:30 AM and 12:00 PM each market Saturday to collect amounts owed until August 8, 2020. Vendors should have payment ready for pickup at this time, make arrangements to bring payment to Headquarters building or pay by ACH Transfer through Vendor invoice prior to 12:00 PM Saturday.
Option 5: Daily Purchase
Vendors may elect to purchase their booth space on a daily or weekend basis without obtaining an assigned booth space or table space for the season. Full payment is due prior to set-up of booth or table each day of participation. Rates are those appropriate for 1 to 3 weekends ($115 Saturday/$95 Sunday).
For Vendors convenience, Lessor will contact those Vendors who have requested any payment option to discuss payment arrangement and terms.
Note: Failure to pay on time under any of the above payment options will result in a $25.00 statement charge being added to offset cost of collections as detailed in the Anchorage Market Vendor Handbook on Pages 10 & 11, Administrative Fee.
Note: By signature on the Lease Agreement, you are entering into a binding agreement for the full amount of this Lease Agreement plus surcharges, if appropriate.
No refunds, credits or discounts will be made other than as addressed in this Lease Agreement.