Northwest Wholesale Stationers, Inc. v. McCormack

Defendant Sivco Employees Profit Sharing Trust (SIVCO) appeals from a summary judgment in favor of plaintiff Northwest Wholesale Stationers, Inc., (NWSI) and also assigns error to denial of its motion for summary judgment. We reverse.

NWSI, as lessee, and SIVCO’s predecessor, as lessor, entered into a lease in August, 1971. The original lessor assigned its rights to SIVCO. The lease term was from April 1, 1972, through March 31,1987. Rent was fixed at $972,000 for the 15-year period, payable in monthly installments of $5,400. The lease provided that NWSI could renew for a “further term of five…