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installation of a storefront, entrance doors, entrance grille
bulkhead, entrance vestibule finish, show window platforms, show
window, and vestibule ceilings, show window background and sign
background; (8) installation of a fire sprinkler system; (9)
installation of all electrical conduits and equipment required
for a complete electrical installation; (10) installation of an
extension of gas service from a metering point to the Store
Space; (11) installation of ventilation or air purification
systems; (12) installation of toilet room fixtures; (13)
installation of all store fixtures; (14) installation of all
required safety and emergency equipment; (15) installation of all
required equipment for aiding the handicapped; (16) installation
of insulation and interior finish on the exterior walls of the
Store Space; (17) painting; and (18) wallpapering; the foregoing
are hereinafter sometimes collectively referred to as the
Improvements.
Under the Lease, petitioners were to remain the owners of
(1) the trade fixtures they installed and (2) their merchandise;
however,
The storefront, partitions, heating and cooling equipment
and all other permanent installations attached to the
* * * [Store Space] shall become a part of the real estate,
shall belong to * * * [TUP 130] at the moment of
installation and shall be unencumbered by * * *
[petitioners].
The term of the Lease was 5 years. The fixed minimum rent
for the store space was $26,312 per year, payable in equal
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Last modified: May 25, 2011