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Form 8-K for ZONED PROPERTIES, INC.


13-Oct-2016

Entry into a Material Definitive Agreement, Regulation FD Disclosure, Fina

Item 1.01. Entry into a Material Definitive Agreement.Effective October 10, 2016, Chino Valley Properties, LLC (the “Landlord”), a wholly owned subsidiary of Zoned Properties, Inc. (the “Company”), entered into a third amendment to commercial lease agreement (the “Amendment”) with C3C3 Group, LLC (“C3C3”) and Alan Abrams. Pursuant to the terms of the Amendment, the size of the leased property was expanded and the monthly rental rate was increased, such that the monthly rent for the leased premises will be as follows:

                         Month 1            -          Waived
                         Months 2-6         -     $ 30,000.00
                         Months 7-12        -     $ 40,000.00
                         Months 13-15       -     $ 42,000.00
                         Months 16-24       -     $ 55,000.00
                         Months 25-36       -     $ 57,750.00
                         Months 37-48       -     $ 60,637.50
                         Months 49-60       -     $ 63,669.38
                         Months 61-72       -     $ 66,852.84
                         Months 73-84       -     $ 60,775.31
                         Months 85-96       -     $ 70,195.49
                         Months 97-108      -     $ 73,705.26
                         Months 109-120     -     $ 77,390.52
                         Months 121-132     -     $ 81,260.05
                         Months 133-144     -     $ 81,260.05
                         Months 145-156     -     $ 81,260.05
                         Months 157-168     -     $ 81,260.05
                         Months 169-180     -     $ 81,260.05
                         Months 181-192     -     $ 81,260.05
                         Months 193-204     -     $ 81,260.05
                         Months 205-216     -     $ 81,260.05
                         Months 217-228     -     $ 81,260.05
                         Months 229-240     -     $ 81,260.05

In November 2016, the lease will begin month 16 of the lease.

C3C3 is owned by Mr. Abrams, a significant stockholder of the Company. Christopher Carra, a significant stockholder of the Company, is president of C3C3.

The foregoing description of the Amendment is not a complete description of all of the parties’ rights and obligations under the Amendment and is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 to this current report on Form 8-K and incorporated herein by reference.

 

Item 7.01. Regulation FD Disclosure.On October 13, 2016, the Company issued a press release regarding certain business updates, including entry into the Amendment. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information contained in the website is not a part of this current report on Form 8-K.

 

Item 9.01. Financial Statements and Exhibits.The exhibits listed in the following Exhibit Index are furnished as part of this current report on Form 8-K.

Exhibit No. Description
10.1 Third Amendment to Commercial Lease by and between Chino Valley Properties, LLC, C3C3 Group, LLC and Alan Abrams.
99.1 Press release of Zoned Properties, Inc. dated October 13, 2016.


MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
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