Commercial Lease Agreement Template - Maryland

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Maryland Commercial Lease Agreement
This Commercial Lease Agreement ("Lease") is made and effective
, by and
between
("Landlord") and
("Tenant").
Landlord is the owner of land and improvements commonly known and numbered as
and legally described as follows (the "Building"):
Landlord makes available for lease a portion of the Building designated as
(the
"Leased Premises").
Landlord desires to lease the Leased Premises to Tenant, and Tenant desires to lease the Leased
Premises from Landlord for the term, at the rental and upon the covenants, conditions and provisions
herein set forth.
THEREFORE, in consideration of the mutual promises herein, contained and other good and valuable
consideration, it is agreed:
1. Term.
A. Landlord hereby leases the Leased Premises to Tenant, and Tenant hereby leases the same from
Landlord, for an "Initial Term" beginning
and ending
. Landlord shall use its best efforts to give Tenant possession as nearly as
possible at the beginning of the Lease term. If Landlord is unable to timely provide the Leased
Premises, rent shall abate for the period of delay. Tenant shall make no other claim against Landlord for
any such delay.
B. Tenant may renew the Lease for one extended term of
. Tenant shall
exercise such renewal option, if at all, by giving written notice to Landlord not less than ninety (90) days
prior to the expiration of the Initial Term. The renewal term shall be at the rental set forth below and
otherwise upon the same convenants, conditions and provisions as provided in this Lease.
2. Rental.
A. Tenant shall pay to Landlord during the Initial Term rental of
per year,
payable in installments of
per month. Each installment payment shall be due
in advance on the first day of each calendar month during the lease term to Landlord at
or at such other place designated by written notice from Landlord or Tenant.
The rental payment amount for any partial calendar months included in the lease term shall be prorated
on a daily basis. Tenant shall also pay to Landlord a "Security Deposit" in the amount of
.
Maryland Commercial Lease Agreement
This Commercial Lease Agreement ("Lease") is made and effective
, by and
between
("Landlord") and
("Tenant").
Landlord is the owner of land and improvements commonly known and numbered as
and legally described as follows (the "Building"):
Landlord makes available for lease a portion of the Building designated as
(the
"Leased Premises").
Landlord desires to lease the Leased Premises to Tenant, and Tenant desires to lease the Leased
Premises from Landlord for the term, at the rental and upon the covenants, conditions and provisions
herein set forth.
THEREFORE, in consideration of the mutual promises herein, contained and other good and valuable
consideration, it is agreed:
1. Term.
A. Landlord hereby leases the Leased Premises to Tenant, and Tenant hereby leases the same from
Landlord, for an "Initial Term" beginning
and ending
. Landlord shall use its best efforts to give Tenant possession as nearly as
possible at the beginning of the Lease term. If Landlord is unable to timely provide the Leased
Premises, rent shall abate for the period of delay. Tenant shall make no other claim against Landlord for
any such delay.
B. Tenant may renew the Lease for one extended term of
. Tenant shall
exercise such renewal option, if at all, by giving written notice to Landlord not less than ninety (90) days
prior to the expiration of the Initial Term. The renewal term shall be at the rental set forth below and
otherwise upon the same convenants, conditions and provisions as provided in this Lease.
2. Rental.
A. Tenant shall pay to Landlord during the Initial Term rental of
per year,
payable in installments of
per month. Each installment payment shall be due
in advance on the first day of each calendar month during the lease term to Landlord at
or at such other place designated by written notice from Landlord or Tenant.
The rental payment amount for any partial calendar months included in the lease term shall be prorated
on a daily basis. Tenant shall also pay to Landlord a "Security Deposit" in the amount of
.
B. The rental for any renewal lease term, if created as permitted under this Lease, shall be
per year payable in installments of
per month.
3. Use
Notwithstanding the forgoing, Tenant shall not use the Leased Premises for the
purposes of storing, manufacturing or selling any explosives, flammables or other inherently dangerous
substance, chemical, thing or device.
4. Sublease and Assignment.
Tenant shall have the right without Landlord's consent, to assign this Lease to a corporation with which
Tenant may merge or consolidate, to any subsidiary of Tenant, to any corporation under common
control with Tenant, or to a purchaser of substantially all of Tenant's assets. Except as set forth above,
Tenant shall not sublease all or any part of the Leased Premises, or assign this Lease in whole or in part
without Landlord's consent, such consent not to be unreasonably withheld or delayed.
5. Repairs.
During the Lease term, Tenant shall make, at Tenant's expense, all necessary repairs to the Leased
Premises. Repairs shall include such items as routine repairs of floors, walls, ceilings, and other parts of
the Leased Premises damaged or worn through normal occupancy, except for major mechanical systems
or the roof, subject to the obligations of the parties otherwise set forth in this Lease.
6. Alterations and Improvements.
Tenant, at Tenant's expense, shall have the right following Landlord's consent to remodel, redecorate,
and make additions, improvements and replacements of and to all or any part of the Leased Premises
from time to time as Tenant may deem desirable, provided the same are made in a workmanlike manner
and utilizing good quality materials. Tenant shall have 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 premises. All personal property, equipment, machinery, trade fixtures and temporary
installations, whether acquired by Tenant at the commencement of the Lease term or placed or installed
on the Leased Premises by Tenant thereafter, shall remain Tenant's property free and clear of any claim
by Landlord. Tenant shall have 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 shall be repaired by Tenant at
Tenant's expense.
7. Property Taxes.
Landlord shall pay, prior to delinquency, all general real estate taxes and installments of special
assessments coming due during the Lease term on the Leased Premises, and all personal property taxes
with respect to Landlord's personal property, if any, on the Leased Premises. Tenant shall be
responsible for paying all personal property taxes with respect to Tenant's personal property at the
Leased Premises.
8. Insurance.
A. 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 Tenant or any of Tenant's agents, employees or invitees, rent
shall not be diminished or abated while such damages are under repair, and Tenant shall be responsible
for the costs of repair not covered by insurance.
B. Landlord shall maintain fire and extended coverage insurance on the Building and the Leased
Premises in such amounts as Landlord shall deem appropriate. Tenant shall be responsible, at its
expense, for fire and extended coverage insurance on all of its personal property, including removable
trade fixtures, located in the Leased Premises.
C. Tenant and Landlord shall, each at its own expense, maintain a policy or policies of comprehensive
general liability insurance with respect to the respective activities of each in the Building with the
premiums thereon fully paid on or before due date, issued by and binding upon some insurance company
approved by Landlord, such insurance to afford minimum protection of not less than $1,000,000
combined single limit coverage of bodily injury, property damage or combination thereof. Landlord
shall be listed as an additional insured on Tenant's policy or policies of comprehensive general liability
insurance, and Tenant shall provide Landlord with current Certificates of Insurance evidencing Tenant's
compliance with this Paragraph. Tenant shall obtain the agreement of Tenant's insurers to notify
Landlord that a policy is due to expire at least (10) days prior to such expiration. Landlord shall not be
required to maintain insurance against thefts within the Leased Premises or the Building.
9. Utilities.
Tenant shall pay all charges for water, sewer, gas, electricity, telephone and other services and utilities
used by Tenant on the Leased Premises during the term of this Lease unless otherwise expressly agreed
in writing by Landlord. In the event that any utility or service provided to the Leased Premises is not
separately metered, Landlord shall pay the amount due and separately invoice Tenant for Tenant's pro
rata share of the charges. Tenant shall pay such amounts within fifteen (15) days of invoice. Tenant
acknowledges that the Leased Premises are designed to provide standard office use electrical facilities
and standard office lighting. Tenant shall not use any equipment or devices that utilizes excessive
electrical energy or which may, in Landlord's reasonable opinion, overload the wiring or interfere with
electrical services to other tenants.
10. Signs.
Following Landlord's consent, Tenant shall have the right to place on the Leased Premises, at locations
selected by Tenant, any signs which are permitted by applicable zoning ordinances and private
restrictions. Landlord may refuse consent to any proposed signage that is in Landlord's opinion too
large, deceptive, unattractive or otherwise inconsistent with or inappropriate to the Leased Premises or
use of any other tenant. Landlord shall assist and cooperate with Tenant in obtaining any necessary
permission from governmental authorities or adjoining owners and occupants for Tenant to place or
construct the foregoing signs. Tenant shall repair all damage to the Leased Premises resulting from the
removal of signs installed by Tenant.
11. Entry.
Landlord shall have the right to enter upon the Leased Premises at reasonable hours to inspect the same,
provided Landlord shall not thereby unreasonably interfere with Tenant's business on the Leased
Premises.
12. Parking.
During the term of this Lease, Tenant shall have the non-exclusive use in common with Landlord, other
tenants of the Building, their guests and invitees, of the non-reserved common automobile parking areas,
driveways, and footways, subject to rules and regulations for the use thereof as prescribed from time to
time by Landlord. Landlord reserves the right to designate parking areas within the Building or in
reasonable proximity thereto, for Tenant and Tenant's agents and employees. Tenant shall provide
Landlord with a list of all license numbers for the cars owned by Tenant, its agents and employees.
Separated structured parking, if any, located about the Building is reserved for tenants of the Building
who rent such parking spaces. Tenant hereby leases from Landlord
spaces in
such structural parking area, such spaces to be on a first come-first served basis. In consideration of the
leasing to Tenant of such spaces, Tenant shall pay a monthly rental of
per
space throughout the term of the Lease. Such rental shall be due and payable each month without
demand at the time herein set for the payment of other monthly rentals, in addition to such other rentals.
13. Building Rules.
Tenant will comply with the rules of the Building adopted and altered by Landlord from time to time
and will cause all of its agents, employees, invitees and visitors to do so; all changes to such rules will
be sent by Landlord to Tenant in writing. The initial rules for the Building are attached hereto as Exhibit
"A" and incorporated herein for all purposes.
14. Damage and Destruction.
Subject to Section 8 A. above, if the Leased Premises or any part thereof or any appurtenance thereto is
so damaged by fire, casualty or structural defects that the same cannot be used for Tenant's purposes,
then Tenant shall have the right within ninety (90) days following damage to elect by notice to Landlord
to terminate this Lease as of the date of such damage. In the event of minor damage to any part of the
Leased Premises, and if such damage does not render the Leased Premises unusable for Tenant's
purposes, Landlord shall promptly repair such damage at the cost of the Landlord. In making the repairs
called for in this paragraph, Landlord shall not be liable for any delays resulting from strikes,
governmental restrictions, inability to obtain necessary materials or labor or other matters which are
beyond the reasonable control of Landlord. Tenant shall be relieved from paying rent and other charges
during any portion of the Lease term that the Leased Premises are inoperable or unfit for occupancy, or
use, in whole or in part, for Tenant's purposes. Rentals and other charges paid in advance for any such
periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made,
any such advance payments shall be refunded to Tenant. The provisions of this paragraph extend not
only to the matters aforesaid, but also to any occurrence which is beyond Tenant's reasonable control
and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy
or use, in whole or in part, for Tenant's purposes.
15. Default.
If default shall at any time be made by Tenant in the payment of rent when due to Landlord as herein
provided, and if said default shall continue for fifteen (15) days after written notice thereof shall have
been given to Tenant by Landlord, or if default shall be made in any of the other covenants or conditions
to be kept, observed and performed by Tenant, and such default shall continue for thirty (30) days after
notice thereof in writing to Tenant by Landlord without correction thereof then having been commenced
and thereafter diligently prosecuted, Landlord may declare the term of this Lease ended and terminated
by giving Tenant written notice of such intention, and if possession of the Leased Premises is not
surrendered, Landlord may reenter said premises. Landlord shall have, in addition to the remedy above
provided, any other right or remedy available to Landlord on account of any Tenant default, either in
law or equity. Landlord shall use reasonable efforts to mitigate its damages.
16. Quiet Possession.
Landlord covenants and warrants that upon performance by Tenant of its obligations hereunder,
Landlord will keep and maintain Tenant in exclusive, quiet, peaceable and undisturbed and
uninterrupted possession of the Leased Premises during the term of this Lease.
17. Condemnation.
If any legally, constituted authority condemns the Building or such part thereof which shall make the
Leased Premises unsuitable for leasing, this Lease shall cease when the public authority takes
possession, and Landlord and Tenant shall account for rental as of that date. Such termination shall be
without prejudice to the rights of either party to recover compensation from the condemning authority
for any loss or damage caused by the condemnation. Neither party shall have any rights in or to any
award made to the other by the condemning authority.
18. Subordination.
Tenant accepts this Lease subject and subordinate to any mortgage, deed of trust or other lien presently
existing or hereafter arising upon the Leased Premises, or upon the Building and to any renewals,
refinancing and extensions thereof, but Tenant agrees that any such mortgagee shall have the right at any
time to subordinate such mortgage, deed of trust or other lien to this Lease on such terms and subject to
such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby
irrevocably vested with full power and authority to subordinate this Lease to any mortgage, deed of trust
or other lien now existing or hereafter placed upon the Leased Premises of the Building, and Tenant
agrees upon demand to execute such further instruments subordinating this Lease or
attorning to the
holder
of any such liens as Landlord may request. In the event that Tenant should fail to execute any
instrument of subordination herein required to be executed by Tenant promptly as requested, Tenant
hereby irrevocably constitutes Landlord as its attorney-in-fact to execute such instrument in Tenant's
name, place and stead, it being agreed that such power is one coupled with an interest. Tenant agrees
that it will from time to time upon request by Landlord execute and deliver to such persons as Landlord
shall request a statement in recordable form certifying that this Lease is unmodified and in full force and
effect (or if there have been modifications, that the same is in full force and effect as so modified),
stating the dates to which rent and other charges payable under this Lease have been paid, stating that
Landlord is not in default hereunder (or if Tenant alleges a default stating the nature of such alleged
default) and further stating such other matters as Landlord shall reasonably require.
19. Security Deposit.
The Security Deposit shall be held by Landlord without liability for interest and as security for the
performance by Tenant of Tenant's covenants and obligations under this Lease, it being expressly
understood that the Security Deposit shall not be considered an advance payment of rental or a measure
of Landlord's damages in case of default by Tenant. Unless otherwise provided by mandatory non-
waivable law or regulation, Landlord may commingle the Security Deposit with Landlord's other funds.
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
Tenant hereunder. Following any such application of the Security Deposit, Tenant shall pay to Landlord
on demand the amount so applied in order to restore the Security Deposit to its original amount. If

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