Shared Parking Agrmt SHARED PARKING AGREEMENT
This Shared Parking Agreement is made effective as of July 1, 2009, by and between the
YMCA ("Lessor") and Milrose Restaurant Group, LLC ("Lessee").
WITNESSETH:
WHEREAS, Lessee intends to open and operate a restaurant with bar facilities adjacent to
the property owned by the Lessor and is in need of additional parking facilities for its restaurant; and
WHEREAS, Lessor has parking facilities in excess of its ordinary needs during the primary
operational periods of Lessee's restaurant; and
WHEREAS, the parties desire to enter into an agreement whereby they would share the
Landlord's parking facilities for persons coming to their respective locations:
Now therefore, for and inconsideration of the mutual covenants contained herein, the parties
hereby agree as follows
1. Subject to and in accordance with the tertns and conditions set forth herein, Lessor
agrees to share with Lessee ten (10) parking Spaces, as is situated in Coppel(, Dallas County, Texas,
which are more particularly described on Exhibit A, incorporated herein by this reference (the
"Spaces").
2. The Spaces shall be shared commencing with the 1 S` day of July, 2009 and ending
upon the termination of Lessee's active conduct of restaurant operations at 130 N. Denton Tap, Ste.
120, Coppell, TX 75019.
3. For and in consideration of its shared use of the Spaces, Lessee shall pay Lessor, at
its location at 146 Town Center Bivd, Coppell, Texas 75019, the sum of $250 per year payable upon
the execution hereof and on each anniversary thereof.
4. Lessee shall have exclusive use of the Spaces as follows:
Mon - Thur: 10 am to 11 pm
Fri: 10 am to midnight
Sat: 7am to midnight
Sun: 7am to lOpm.
5. Lessor and Lessee agree to cooperate to the best of their abilities to mutually use the
Spaces without disrupting the other party. The parties agree to meet on occasion to work out any
problems that may arise to the shared use.
6. At their own expense, Lessor and Lessee agree to maintain liability insurance for the
Spaces as is standard for their own business usage.
SHARED PARKING AGREEVIENT - PAGE 1
C\IData\!Atty\Kerr\Shared Parking Agreement v6 wpd -.Iune 26, 2009 (7:1 lam)
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7. If Lessor transfers ownership, or if part of all of the Spaces are condemned, or access
to the Spaces is changed or limited, Lessee may, in its sole discretion terminate this agreement
without further liability by giving Lessor not less than 60 days prior written notice. Upon
termination of this agreement, Lessee agrees to remove all signage and repair damage due to
. excessive use or abuse. Lessor agrees to give Lessee the right of first refusal on subsequent renewal
of this agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement as ofthe Effective Date
Set forth at the outset hereof.
YMCA
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By: C - y ~,.,A
Its: ~.<'ii;~- ',~.L:: - t~-l,t. •
Milrose Restaurant Group, LLC
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By. ~--~--rF,
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Its: President ~
SHAREll PARKING AGREEME~T - PAGE 2
C 1!Data\!Atty\Kerr~Shared Parking Agreement v6.wpd - June 26, 2009 (7 l lam)
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EXHIBIT "A"
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