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Commercial Property Lease
The State of [State] County of [County].
This Commercial Property Lease is made on [Date] by and between [Name], of [Address], hereinafter referred to as "Lessor", and [Name], of [Address], hereinafter referred to as "Tenant", do hereby agree as follows:
Lessor hereby leases to lessee and lessee hereby rents the building known as: [Enumerate].
SEE EXHIBIT 1, ATTACHED
referred to below as the building, the same constituting [--] square feet.
The space is leased for a term of [--] months, to commence on [Date] and to continue until [Date].
The total term rental is the sum of [$------], which is payable in equal monthly installments, in advance, on the first day of each calendar month. Lessee shall in addition pay such applicable sales/use taxes as may be levied from time to time by competent authority in addition to the base rental.
Lessee shall pay rent, and any additional rental as provided below, to lessor at lessor's above stated address, or at such other place as lessor may designate in writing, without demand, and without counterclaim, deduction or setoff. Lessee shall use and occupy the premises as office space and for no other purpose. Lessor represents that the premises may be lawfully used for such purpose.
Lessee shall commit no act of waste and shall take good care of the premises and the fixtures and appurtenances therein, and shall, in the use and occupancy of the premises, conform to all laws, orders and regulations of the federal, state, and municipal government of any of their departments. All improvements made by lessee to the premises which are so attached to the premises that they cannot be removed without material injury to the premises, shall become the property of lessor upon installation.
Not later than the last day of the term lessee shall, at lessee's expense, remove all of lessee's personal property and those improvements made by lessee which have not become the property of the lessor, including trade fixtures, cabinet work, movable paneling, partitions and the like; repair all injury done by or in connection with the in installation or removal of the property and improvements; surrender the premises in as good condition as they were at the beginning of the term, reasonable wear and damage by fire, the elements, casualty, or other cause not due to the misuse or neglect by lessee or lessee's agents, servants, visitors, servants or licensees, excepted.
All property of the lessee remaining on the property after the last day of the term of this lease shall be conclusively deemed abandoned and may be removed by lessor, and lessee shall reimburse lessor for the cost of such removal. Lessor may have any such property stored at lessee's risk and expense.
(a) Lessee shall not, without first obtaining the written consent of the lessor, make any alterations, additions or improvements in, to or about the premises.
(b) Lessee shall not do or suffer anything to be done on the premises which will cause an increase in the rate of fire insurance on the building.
(c) Lessee shall not permit the accumulation of waste or refuse matter on the leased premises or anywhere in or near the building.
(d) Lessee shall not, without first obtaining the written consent of the lessor, abandon the premises, or allow the premises to become vacant or deserted.
(e) Lessee shall not, without obtaining the written consent of the lessor, assign, mortgage, pledge, or encumber this lease, in whole or in part, or sublet the premises or any part of the premises.
(f) Lessee shall observe and comply with such reasonable rules and regulations as may be established from time to time by lessor.
If the building is damaged by fire or any other cause to such extent that the cost of restoration, as reasonably estimated by lessor, will equal or exceed [--%] percent of the replacement value of the building, just prior to the occurrence of the damage, then lessor may, no later than the seventh day following the damage, give lessee a notice of election to terminate the lease. In the event of such election this lease shall be deemed to terminate as of the date of the damage or destruction, and lessee shall surrender the premises within a reasonable time thereafter, and any prepaid rent shall be refunded proportionally.
If the premises or any part of the premises, or any part of the building materially affecting lessee's use of the premises, be taken by eminent domain, this lease shall terminate on the date when title vests pursuant to such taking. The rent shall be apportioned as of the termination date and any rent paid for any period beyond such date shall be repaid to lessee.
This lease shall be subject and subordinate to all underlying leases and to mortgages which may now or hereafter affect such leases or the real property of which the premises form a part, and also all renewals, modifications, consolidations, and replacements of the underlying leases and mortgages. Lessee agrees to execute such estoppel letters or other documents required to confirm the same.
Lessor may enter the premises at any reasonable time, upon adequate notice to lessee (except that no notice need be given in case of an emergency) for the purpose of inspection or the making of such repairs, replacements, or additions in, to , on and about the premises or the building, as lessor deems necessary or desirable.
Lessee shall during the term of this lease make all necessary and needful repairs required to maintain the premises in good repair. The Lessee shall at all times maintain public liability insurance with a minimum [$------] bodily injury liability. Lessee shall provide proof of this coverage to the lessor.
In connection with this Agreement and the transactions contemplated hereby, each party to this Agreement will execute and deliver any additional documents and perform any additional acts that may be necessary or appropriate to effectuate and perform its obligations under this Agreement and the transactions contemplated hereby.
This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.
No Assignment. Neither this lease nor any right or interest thereunder shall be assigned in any respect whatsoever.
Exclusion of Oral Statements. This instrument contains all of the agreements of the parties. No oral or other statements shall be binding on either of the parties hereto.
Applicable Law. This Commercial Property Lease shall be governed by the laws of the State of [State].
IN WITNESS WHEREOF, the parties have executed this agreement the day and year as first above written at [City], [State].
This Section for Notary:
STATE OF -------)
) ss: [date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]