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HORNWOOD v. SMITH'S FOOD KIND NO. 1

No. 21084.

807 P.2d 209 (1991)

Sanford and Rita HORNWOOD, Appellants, v. SMITH'S FOOD KING NO. 1 and Smith's Management Corporation, Respondents.

Supreme Court of Nevada.

Rehearing Denied May 2, 1991.

Attorney(s) appearing for the Case

Marquis, Haney & Aurbach, Las Vegas, for appellants.

Jolley, Urga, Wirth & Woodbury, Las Vegas, for respondents.

OPINION

PER CURIAM:

THE FACTS

In June 1975, respondent, Smith's Food King No. 1 (Smith's), executed an agreement to lease 28,000 square feet of space in a 145,000 square foot shopping center now owned by Sanford and Rita Hornwood (Hornwoods).1 The thirty year lease required Smith's to pay approximately $92,398.00 in minimum annual rent as well as "percentage rent" calculated at 1.5% of sales generated by the store during...

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