Shady v. Mercantile Arcade Realty Co.

PRESTON, J.

In this cause paragraph one of the judgment is amended to read as follows: “That in the action entitled ‘Mercantile Arcade Realty Company, a corporation, plaintiff, vs. J. Shady, defendant,’ numbered 160209, Mercantile Arcade Realty Company, a corporation, do have and recover of and from J. Shady the sum of four thousand six hundred eighteen and 44/100 (4618.44) dollars, together with interest thereon at the rate of seven per cent per annum from the date hereof until paid; together with costs and disbursements of said Mercantile Arcade Realty Com

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pany, a corporation, incurred in said action, amounting to the sum of $71.30.”

Paragraph II of said judgment is modified to read as follows: “That in the action entitled ‘Mercantile Arcade Realty Company, a corporation, plaintiff, vs. J. Shady, defendant,’ numbered 167550, the said Mercantile Arcade Realty Company, a corporation, have and recover from said J. Shady the sum of twenty-nine hundred four and 75/100 (2904.75) dollars, together with interest thereon at the rate of seven per cent per annum from the date hereof until paid.”

As so modified it is ordered that the said judgment be and the same is hereby affirmed, with costs to appellant. This judgment is so modified and affirmed for the following reasons:

First, it will be noted that the parties plaintiff and defendant have been transposed, the Mercantile Arcade Realty Company, a corporation, being known in the judgment as the plaintiff and J. Shady being known as the defendant. In this opinion said corporation will be called the company.

Said company leased, as of February 15, 1924, to defendant, shops 5 and 6 in the Arcade Building, Los Angeles, for a term of ten years, at a combined rental of .$900 per month. In May, 1924, an amended agreement was executed by the parties changing the spread of said rental but without changing the total amount thereof. The change provided for a rental of $700 per month instead of $900 per month between May 1 and December 31, 1924, with a rental of $1,000 per month for the succeeding sixteen months; then the old rate of $900 per month was to reattach. This concession, however, was dependent upon the faithful performance of the covenants of the lease during the period of reduced rental. The right to cancel the leases was also given the defendant, provided he gave a written notice to that effect ten days prior to December 31, 1924, and provided also that he relinquished to the company the sum of $2,850 theretofore deposited with it as security for the faithful performance of the covenants of the lease on his part.