Commercial Property Lease
The State of __________ County of _______________
This lease is made between [NAME], of [ADDRESS], herein referred
to as lessor, and [NAME] TENANT, of [ADDRESS], herein referred
to as lessee. Lessor hereby leases to lessee and lessee hereby
rents the building known as:
described as:
SEE EXHIBIT 1, ATTACHED
referred to below as the building, the same constituting ____
square fee MOL.
The space is leased for a term of 12 months, to commence on [DATE]
and to continue until [DATE].
The total term rental is the sum of $------, (& 67/100 dollars)
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.
Lessee shall not, without first obtaining the written consent
of the lessor, make any alterations, additions or improvements
in, to or about the premises.
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.
Lessee shall not permit the accumulation of waste or refuse matter
on the leased premises or anywhere in or near the building.
Lessee shall not, without first obtaining the written consent
of the lessor, abandon the premises, or allow the premises to
become vacant or deserted.
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.
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 60% 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.
This document represents the entire agreement of the parties
and there are no representations not stated herein, and this agreement
may only be modified by a writing executed by both parties hereto.
Dated: _____________.
____________________________
LESSOR
____________________________
TENANT