Commercial Lease Agreement Template

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CommeRCiaL Lease agReemenT
This commercial lease agreement, dated
,
is between
and
Landlord
Full name and address
The landlord and/or agent(s) is/are referred to in this lease agreement as “Landlord.”
Tenant
Full name and address
The tenant(s) is/are referred to in this lease as “Tenant.”
The parties agree as follows:
§1 Rental Property
The Landlord agrees to rent to the Tenant the property described as a
Enter full description, for example "a house with 2.5 rooms and 1 bathroom"
located at
, which is referred to in this lease agree-
ment as the “Leased Premises.”
?
§2 Legal Description
The legal description for the Leased Premises is
Initials:
Page 1 of 12
CommeRCiaL Lease agReemenT
This commercial lease agreement, dated
,
is between
and
Landlord
Full name and address
The landlord and/or agent(s) is/are referred to in this lease agreement as “Landlord.”
Tenant
Full name and address
The tenant(s) is/are referred to in this lease as “Tenant.”
The parties agree as follows:
§1 Rental Property
The Landlord agrees to rent to the Tenant the property described as a
Enter full description, for example "a house with 2.5 rooms and 1 bathroom"
located at
, which is referred to in this lease agree-
ment as the “Leased Premises.”
?
§2 Legal Description
The legal description for the Leased Premises is
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Page 1 of 12
Commercial Lease agreement (Fixed Term)
Art.No. 19604
§3 Term of Lease
The Landlord hereby leases the Leased Premises to the Tenant, and the Tenant hereby leases the same from the
Landlord, for an initial term of
,
Length of Term
beginning
and ending
.
§4 amount of Rent
The amount of the rent is $
, to be paid
. The
Normally "monthly"
total lease payment is $
.
This is the sum of all lease payments planned under this lease
§5 Form of Payment
Payment of the rent will only be made by personal check, unless modified through provision below.
§6 Date Rent is Due
The rent is due on or before the
day of each month. This is the day by
Normally "first"
which the Landlord must have received the Tenant’s rent payment.
§7 Late Fee
7.1
If rent or any other charges are not received by the Landlord within
days
Normally "five"
after the rent due date, the Tenant must pay a late fee of $
in addition to the
rent.
7.2
Payments received by the Landlord when there are arrears, will be credited first to any outstanding balance, and then
applied to the current amount due.
§8 Returned Payments for insufficient Funds
A returned payment fee of $
will be added for all returned payments. If there are more
than two instances of returned payments, the Tenant agrees that the Landlord may require all future pay-
ments to be made only by certified check, money order, or cash.
§9 Lease Renewal
This lease will automatically renew for an additional period of
per renewal term, unless
either party gives written notice of termination no later than
days prior to the end of the term or
renewal term. The lease terms during any such renewal term will be the same as those contained in this lease
except that the lease installment payments will be $
per
.
Neither party must state, nor have grounds to give the other party notice of termination, nor to terminate
the lease agreement or the renewal term lease agreement.
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Commercial Lease agreement (Fixed Term)
Art.No. 19604
§10 Condition of Property
The Tenant acknowledges that the Tenant has inspected the Leased Premises, and that at the commencement of
this lease agreement, the interior and the exterior of the Leased Premises, as well as all equipment and any
appliances, were found to be in an acceptable condition and in good working order. The Tenant concedes that
the Landlord has not made any promises regarding the condition of the Leased Premises. The Tenant agrees
to return the Leased Premises to the Landlord at the end of the lease agreement in the same condition it was
at the beginning of the lease agreement.
§11 Possession
11.1 The Tenant is entitled to possession on the first day of the term of this lease, and will yield possession to the
Landlord on the last day of the term of this lease, unless otherwise agreed to by both parties in writing.
11.2 The Landlord will use its best efforts to give the Tenant possession as near to the beginning of the lease term as
possible. If the Landlord is unable to timely provide the Leased Premises, rent will abate for the period of
delay. The Tenant makes no other claim against the Landlord for any such delay. At the expiration of the term,
the Tenant will remove their goods and effects and peaceably yield the Leased Premises to the Landlord in
as good a condition as when delivered to the Tenant, ordinary wear and tear excepted.
§12 Quiet Possession
The Landlord covenants and warrants that upon performance by the Tenant of its obligations hereunder, the Landlord
will keep the Tenant in exclusive, quiet, peaceable, undisturbed and uninterrupted possession of the Leased
Premises during the term of this lease.
§13 Default
13.1 If default is made in any of the covenants or conditions to be kept, observed and performed by the Tenant, and such
default continues for 30 days after notice thereof in writing to the Tenant by the Landlord without correction
thereof and having been commenced and thereafter diligently executed, the Landlord may declare the term of
this lease ended and terminated by giving the Tenant written notice of such intention. If possession of the
Leased Premises is not surrendered, the Landlord may reenter the said Leased Premises. The Landlord has, in
addition to the remedy provided above, any other right or remedy available to the Landlord on account of any
Tenant default, either in law or equity. The Landlord will use reasonable efforts to mitigate its damages.
13.2 The Tenant understands and agrees that if the Tenant files a petition of bankruptcy, it will not release the Tenant
from the fulfillment of the terms and conditions of the lease agreement.
§14 security Deposit
At the time of signing this lease agreement, the Tenant will give the Landlord a security deposit of
$
. The security deposit will be held by the Landlord without liability for interest,
and as security for the performance by the Tenant of the Tenant‘s covenants and obligations under this lease,
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Commercial Lease agreement (Fixed Term)
Art.No. 19604
it being expressly understood that the security deposit will not be considered an advance payment of rental
or a measure of the Landlord‘s damages in case of default by the Tenant. Unless otherwise provided by man-
datory non-waivable law or regulation, the Landlord may commingle the security deposit with the Landlord‘s
other funds. The Landlord may, from time to time, without prejudice to any other remedy, use the security
deposit to the extent necessary to make good any arrearages of rent, or to satisfy any other covenant or
obligation of the Tenant hereunder. Following any such application of the security deposit, the Tenant will
pay to the Landlord on demand the amount so applied in order to restore the security deposit to its original
amount. If the Tenant is not in default at the termination of this lease, the Landlord will return the balance of
the security deposit remaining after any such application to the Tenant. If the Landlord transfers its interest
in the Leased Premises during the term of this lease, the Landlord may assign the security deposit to the
transferee and after that will have no further liability for the return of the security deposit.
§15 sublease and assignment
The Tenant has the right, without the Landlord‘s consent, to assign this lease to a corporation with which the Tenant
may merge or consolidate, to any subsidiary of the Tenant, to any corporation under common control with the
Tenant, or to a purchaser of substantially all of the Tenant‘s assets. except as is set forth above, the Tenant
will not sublease all or any part of the Leased Premises, or assign this lease in whole or in part without the
Landlord‘s consent, such consent not to be unreasonably withheld or delayed.
§16 maintenance
16.1 The Landlord‘s obligations for maintenance include:
-
the roof, outside walls, and other structural parts of the building
-
the parking lot, driveways, and sidewalks including snow and ice removal
-
the sewer, water pipes, and other matters related to plumbing
-
the electrical wiring
-
the air conditioning system
-
all other items of maintenance not specifically delegated to the Tenant under this lease.
16.2 The Tenant‘s obligations for maintenance include:
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Commercial Lease agreement (Fixed Term)
Art.No. 19604
§17 Utilities and services
The Tenant is responsible for all utilities and services incurred in connection with the Leased Premises.
§18 alterations and improvements
The Tenant, at the Tenant‘s expense, has the right following the Landlord‘s consent to remodel, redecorate, and make
additions, improvements, or replacements to all or any part of the Leased Premises from time to time as the
Tenant may deem desirable, provided the same are made in a workmanlike manner and utilizing good quality
materials. The Tenant has the right to place and install personal property, trade fixtures, equipment and other
temporary installations in and upon the Leased Premises, and fasten the same to the Leased Premises. All
personal property, equipment, machinery, trade fixtures and temporary installations, whether acquired by the
Tenant at the commencement of the lease term or placed or installed on the Leased Premises by the Tenant
thereafter, will remain the Tenant‘s property free and clear of any claim by the Landlord. The Tenant has the
right to remove the same at any time during the term of this lease, provided that all damage to the Leased
Premises caused by such removal is repaired by the Tenant at the Tenant‘s expense.
§19 Property Taxes
The Landlord will pay, prior to delinquency, all general real estate taxes and installments of special assessments due
during the lease term on the Leased Premises, and all personal property taxes with respect to the Landlord‘s
personal property, if any, on the Leased Premises. The Tenant is responsible for paying all personal property
taxes with respect to the Tenant‘s personal property at the Leased Premises.
§20 Property insurance
20.1 The Landlord and Tenant will each maintain appropriate insurance for their respective interests in the Leased Pre-
mises and property located on the Leased Premises. The Landlord will be named as an additional insured in
such policies. The Tenant will deliver appropriate evidence to the Landlord as proof that adequate insurance is
in force issued by companies reasonably satisfactory to the Landlord. The Landlord will receive advance writ-
ten notice from the insurer prior to any termination of such insurance policies. The Tenant will also maintain
any other insurance that the Landlord may reasonably require for the protection of the Landlord‘s interest in
the Leased Premises. The Tenant is responsible for maintaining casualty insurance on its own property.
20.2 If the Leased Premises or any other party of the building is damaged by fire or other casualty resulting from any act
or negligence of the Tenant or any of the Tenant‘s agents, employees or invitees; rent is not to be diminished
or abated while such damages are under repair, and the Tenant will be responsible for the costs of repair not
covered by insurance.
§21 Liability insurance
The Tenant will maintain liability insurance on the Leased Premises in a total aggregate sum of at least
$
. The Tenant will deliver appropriate evidence to the Landlord as proof that adequate
insurance is in force issued by companies reasonably satisfactory to the Landlord. The Landlord will receive
advance written notice from the insurer prior to any termination of such insurance policies.
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