Commercial Lease
Agreement, dated the________day of ________ ,20_________ , between ____________
( hereinafter referred to as the "Tenant") whose address is ___________and __________
( hereinafter referred to as the "Landlord") whose address is ______________
WHEREAS, the Tenant wishes to rent premises for office use.
WHEREAS, the Landlord has premises for rental for such office use.
NOW, THEREFORE, in consideration of the forgoing premises and mutual covenants hereinafter set forth and other valuable consideration, the parties hereto agree as follows:
1. Demised premises. the premises rented here under are suite #___________ , comprising approximately ____________ square feet, on the __________ floor of building located at the following address ____________ in the city or town of __________ in the state of_________________.
2.Term.The term shall be for a period of ____________ years (unless the term shall sooner cease and expire pursuant to the terms of this Lease), commencing on the ____ day of ___________, 20__, and ending on the ____ day of ___________, 20__. At the expiration of the term and any renewals thereof pursuant to Paragraph 3, the Lease shall become a month-to-month tenancy with all other provisions of the Lease in full force and effect.
3.Option to Renew.The Tenant shall have an option to renew the lease for a period of ____ years. Such option must be exercised in writing prior to the expiration of the term specified in Paragraph 2. During such renewal term, all other provisions of the Lease shall remain in full force and effect except for the following modifications
___________________________________________________________________________
5.Rent.The annual rent shall be $__________, payable in equal monthly installments on the first day of each month to the Landlord at the Landlord’s address or such other address as the Landlord may specify. The first month’s rent shall be paid on signing this Lease.
6.Security Deposit.The security deposit shall be in the amount of _____ month(s) rent and shall be paid by check at the time of signing this Lease. The security deposit shall be increased at such times as the monthly rent increases, so as to maintain the security deposit at the level of _____ month(s) rent. The security deposit shall be kept in a separate interest-bearing account with interest payable to the Tenant. The security deposit, after reduction for any sums owed to the Landlord, shall be returned to the Tenant within ten days of the Tenant’s vacating the premises.
7.Condition of Premises.The Tenant has inspected the premises and accepts them in “as is” condition exceptfor the following work to be performed by the Landlord ____________________________________________ _____________________________________ and completed by ____________, 20___. At the termination of the Lease, The Tenant shall remove all its property and return possession of the premises broom clean and in good order and condition, normal wear and tear excepted, to the Landlord.
8.Use.The Tenant shall use and occupy the premises for ________________________________________ and for no other purpose.
9.Alterations.The Tenant shall obtain the Landlord’s written approval to make any alterations that are structural or affect utility services, plumbing, or electric lines, except that the Landlord consents to the following alterations _______________________________________________________________________________________________________ ___________________________. In addition, the Landlord consents to the installation by the Tenant of the following equipment and fixtures ________________________________________________________________________________ _______________________________________________________________________________________________________ ______________________. The Landlord shall own all improvements affixed to the premises, except that the Tenant shall own the following improvements _______________________________________________________________________________________ ________________________________________________________________________________________ and have the right to either remove them or sell them to a new incoming tenant. If the Landlord consents to the ownership andsale of improvements by the Tenant, such sale shall be conducted in the following way _____________________________________________________________________________________________________ _______________________________________________. If the Landlord consents to the Tenant’s ownership and right to remove certain improvements, the Tenant shall repair any damages caused by such removal. Nothing contained herein shall prevent the Tenant from removing its trade fixtures, moveable office furniture and equipment, and other items not affixed to the premises.
10.Repairs.Repairs to the building and common areas shall be the responsibility of the Landlord. In addition, repairs to the premises shall be the responsibility of the Landlord except for the following ______________________ __________________________________________________________________________________.
11.Assignment and Subletting.The Tenant shall have the right to assign this Lease to an assignee of good character and sound finances subject to obtaining the written approval of the Landlord, which approval shall not be unreasonably withheld. In addition, the Tenant shall have the right to sublet all or a portion of the premises on giving written notice to the Landlord.
12.Quiet Enjoyment.The Tenant may quietly and peaceably enjoy occupancy of the premises. The Tenant shall have access to the premises at all times and, if necessary, shall be given a key to enter the building. The Tenant shall use and occupy the premises in accordance with this Lease, the building’s certificate of occupancy, and all relevant laws.
13.Utilities and Services.During the heating season the Landlord at its own expense shall supply heat to the premises at all times on business days and on Saturdays and Sundays. The Landlord ❏shall ❏shall not supply air conditioning for the premises at its own expense. The Tenant shall pay the electric bills for the meter for the premises, unless another arrangement exists as follows __________________________________________________. ___________________________________________. The Landlord shall provide and pay for water for the premises, unless another arrangement exists as follows __________________________________________________________ _______________________________________. The Tenant shall be responsible for and pay for having its own premises cleaned, including the securing of licensed window cleaners. ❏The Tenant ❏The Landlord shall be responsible to pay for the removal of refuse from the premises. If the Landlord is responsible to pay for such removal, the Tenant shall comply with the Landlord’s reasonable regulations regarding the manner, time, and location of refuse pickups.
14.Access to Premises.The Landlord and its agents shall have the right, upon reasonable notice to the Tenant, to enter the premises to make repairs, improvements, or replacements. In the event of emergency, the Landlord and its agents may enter the premises without notice to the Tenant. The Tenant [] shall [] shall not provide the Landlord with keys for the premises.
15.Insurance.The Tenant agrees to carry liability insurance and name the Landlord as an additional named insured under its policy and furnish to the Landlord certificates showing liability coverage of not less than $_______ for the premises. Such company shall give the Landlord ten (10) days notice prior to cancellation of any such policy. Failure to obtain or keep in force such liability insurance shall allow the Landlord to obtain such coverage and charge the amount of premiums as additional rent payable by the Tenant. The Landlord agrees to carry casualty and fire insurance on the building, but shall not have any liability in excess of $______ with respect to the operation of the Tenant’s business.
16.Subordination.This Lease is subordinate and subject to all ground or underlying leases and any mortgages that may now or hereafter affect such leases or the building of which the premises are a part. The operation of this provision shall be automatic and not require any further consent from the Tenant. To confirm this subordination, the Tenant shall promptly execute any documentation that the Landlord may request.
17.Rider.Additional terms may be contained in a Rider attached to and made part of this Lease.
18.Miscellany.This Lease shall be binding upon the parties hereto, their heirs, successors, assigns, and personal representatives. This Agreement constitutes the entire understanding between the parties. Its terms can be modified only by an instrument in writing signed by both parties unless specified to the contrary herein. A waiver of a breach of any of the provisions of this Agreement shall not be construed as a continuing waiver of other breaches of the same or other provisions hereof. This Agreement shall be governed by the laws of the State of______________________________________________________.
IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the date first set forth above.
Tenant__________________________ Landlord______________________
Company Name Company Name
By______________________________ By_______________________________
Authorized Signatory, Title Authorized Signatory, Title
adopted from : Crawford Tad.,Bruck, Doman, Eva.,& Battle,W. , Carl.(2006). business and legal forms for industrial deaigner. New York: Allworth Press.
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