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Triple Net Lease Agreement is a contract that designates the tenant as being entirely responsible for all the costs relating to the asset this lease referred to. The tenant has to pay the net amount of three types of costs which how this term got its name. The three types include the net real estate taxes on the leased asset, the net building insurance, and the net common area maintenance.

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This Triple Net Lease Agreement (hereinafter referred to as the “Agreement”) is made and entered
into by and between the City of Bolivar, Missouri, (hereinafter referred to as "Landlord") and Burrell, Inc.,
d/b/a Burrell Behavioral Health, (hereinafter referred to as "Tenant," whether one or more). The Tenant’s
address is: PO Box 315, Bolivar, Missouri 65613.
PURPOSE: The purpose of this Agreement is to obligate the Landlord to lease to the Tenant certain real
estate as identified herein, and to do so in accordance with the terms herein, and to obligate the Tenant to
compensate the Landlord for possession of the real estate in accordance with the terms herein, and to
establish the Landlord’s and Tenant’s respective obligations to one another with respect to the lease of said
real estate.
1. Property to be Leased : Landlord does hereby lease and demise unto Tenant, and Tenant does hereby
take and hire from Landlord, certain real estate and improvements located at 4476 Airport Drive, Bolivar,
Missouri 65613 (hereinafter referred to as the “Subject Property”). The real estate wherein the Subject
Property is located is more particularly described by legal description in Exhibit “A” attached hereto and
made a part hereof by reference.
2. Term of Lease : The term of this Agreement will commence immediately upon the execution of this
Agreement by all parties; and this Agreement will expire on the 30
day of November, 2013.
3 . Rent : Tenant will pay to Landlord, in advance of or on the first day of each year during the term of
this Agreement, base rent in the sum of One and no/100s Dollars ($ 1.00) annually.
In addition to base rent, the Tenant agrees to pay additional rent as follows:
a. Real Estate Taxes: Tenant will pay to Landlord a sum equal to the State, County and City real
estate taxes or assessments lawfully levied and assessed against the property. Landlord shall
notify Tenant of the amount of such taxes by not later than 15 days following the receipt of a
statement for taxes or assessments, and such sum shall be payable to Landlord by not later
than 15 days prior to the due date thereof. Tenant shall also pay to the Landlord all amounts
of interest or penalties which may be incurred as a result of the Tenant's failure to deliver the
required funds within the time allowed herein.
b. Insurance: On or before the first day of each month during the term of this Agreement,
Tenant will pay to Landlord a sum equal to the property, casualty and liability insurance
premiums on the property; and in this connection, Landlord shall cause the premises to be
insured for their full insurable value against loss by fire, windstorm, losses under extended
coverage, and vandalism in a company rated no lower than "A" for financial soundness by the
A.M Best Company, or the comparable rating of any other nationally recognized insurance
company rating service. The Tenantmay carry any additional insurance it chooses for the
value of its leasehold improvements, if any, and its contents. The insurance policy shall
provide liability coverage for no less than $3,000,000 per person and per incident. The
parties acknowledge that, as of the beginning of the initial term of this Agreement, the
property, casualty and liability insurance premiums on the property would equal
approximately $150.00 per month. The parties acknowledge that the amount of
compensation for such property, casualty and liability insurance may be adjusted by the
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Triple Net Lease Agreement
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