Commercial Lease Agreement Template - Massachusetts

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MASSACHUSETTS COMMERCIAL LEASE AGREEMENT
1. PARTIES
LESSOR, which expression shall include
heirs, successors
and assigns where the context so admits, does hereby lease to
.
(fill in)
LESSEE, which expression shall include
successors,
executors, administrators, and assigns where the context so admits, and
the LESSEE hereby leases the following described premises:
2. PREMISES
________________________________________________________________
(fill in and include,
________________________________________________________________
if applicable, suite
number, floor
________________________________________________________________
number, and square
feet).
together with the right to use in common, with others entitled thereto, the
hallways, stairways, and elevators, necessary for access to said leased premises,
and lavatories nearest thereto.
3. TERM
The term of this lease shall be for
commencing on _________
and ending on
.
(fill in)
4. RENT
The LESSEE shall pay to the LESSOR rent at the rate of
dollars
per year, payable in advance in monthly installments of _________.
(fill in)
5. SECURITY
Upon the execution of this lease, the LESSEE shall pay to the LESSOR the
DEPOSIT
amount of
dollars, which shall be held as a security for the
LESSEE’s performance as herein provided and refunded to the LESSEE at the
(fill in)
end of this lease subject to the LESSEE’s satisfactory compliance with the
conditions hereof.
6. RENT
If in any tax year commencing with the fiscal year
, the real estate taxes on
ADJUSTMENT the land and buildings, of which the leased premises are a part, are in excess of
the amount of the real estate taxes thereon for the fiscal year
(hereinafter
called the “Base Year”), LESSEE will pay to LESSOR as additional rent
hereunder, when and as designated by notice in writing by LESSOR,
per
cent of such excess that may occur in each year of the term of this lease or any
A. TAX
extension or renewal thereof and proportionately for any part of a fiscal year.
ESCALATION If the Lessor obtains an abatement of any such excess real estate tax, a
proportionate share of such abatement, less the reasonable fees and costs
(fill in or delete)
incurred in obtaining the same, if any, shall be refunded to the LESSEE.
B. OPERATING The LESSEE shall pay to the LESSOR as additional rent hereunder when and as
COST
designated by notice in writing by LESSOR,
% percent of any increase in
ESCALATION operating expenses over those incurred during the calendar year
.
Operating expenses are defined for the purpose of this agreement as:
(fill in or delete)
________________________________________________________________
This increase shall be prorated should this lease be in effect with respect to only
a portion of any calendar year.
MASSACHUSETTS COMMERCIAL LEASE AGREEMENT
1. PARTIES
LESSOR, which expression shall include
heirs, successors
and assigns where the context so admits, does hereby lease to
.
(fill in)
LESSEE, which expression shall include
successors,
executors, administrators, and assigns where the context so admits, and
the LESSEE hereby leases the following described premises:
2. PREMISES
________________________________________________________________
(fill in and include,
________________________________________________________________
if applicable, suite
number, floor
________________________________________________________________
number, and square
feet).
together with the right to use in common, with others entitled thereto, the
hallways, stairways, and elevators, necessary for access to said leased premises,
and lavatories nearest thereto.
3. TERM
The term of this lease shall be for
commencing on _________
and ending on
.
(fill in)
4. RENT
The LESSEE shall pay to the LESSOR rent at the rate of
dollars
per year, payable in advance in monthly installments of _________.
(fill in)
5. SECURITY
Upon the execution of this lease, the LESSEE shall pay to the LESSOR the
DEPOSIT
amount of
dollars, which shall be held as a security for the
LESSEE’s performance as herein provided and refunded to the LESSEE at the
(fill in)
end of this lease subject to the LESSEE’s satisfactory compliance with the
conditions hereof.
6. RENT
If in any tax year commencing with the fiscal year
, the real estate taxes on
ADJUSTMENT the land and buildings, of which the leased premises are a part, are in excess of
the amount of the real estate taxes thereon for the fiscal year
(hereinafter
called the “Base Year”), LESSEE will pay to LESSOR as additional rent
hereunder, when and as designated by notice in writing by LESSOR,
per
cent of such excess that may occur in each year of the term of this lease or any
A. TAX
extension or renewal thereof and proportionately for any part of a fiscal year.
ESCALATION If the Lessor obtains an abatement of any such excess real estate tax, a
proportionate share of such abatement, less the reasonable fees and costs
(fill in or delete)
incurred in obtaining the same, if any, shall be refunded to the LESSEE.
B. OPERATING The LESSEE shall pay to the LESSOR as additional rent hereunder when and as
COST
designated by notice in writing by LESSOR,
% percent of any increase in
ESCALATION operating expenses over those incurred during the calendar year
.
Operating expenses are defined for the purpose of this agreement as:
(fill in or delete)
________________________________________________________________
This increase shall be prorated should this lease be in effect with respect to only
a portion of any calendar year.
C. CONSUMER (1) LESSEE agrees that in the event the “Consumer Price Index for Urban Wage
PRICE
Earners and Clerical Workers, U.S. City Average, All Items (1967=100)”
ESCALATION (Hereinafter referred to as the “Price Index”) published by the Bureau of Labor
Statistics of the United States Department of Labor, or any comparable
(fill in or delete)
successor or substitute index designated by the LESSOR appropriately adjusted,
reflects an increase in the cost of living over and above the cost of living as
reflected by the Price Index for the month of
, 20 (hereinafter called
the “Base Price Index”), the Basic Rent shall be adjusted in accordance with
sub-paragraph (2) of this Article.
(2) Commencing as of the first anniversary of the Term Commencement Date,
there shall be an adjustment (hereinafter referred to as “Adjustment”) in the
Basic Rent calculated by multiplying the Basic Rent set forth in Article 4 of the
lease by a fraction, the numerator of which shall be the Price Index for the
month of
20 and the denominator of which (for each such fraction)
shall be the Base Price Index: PROVIDED, HOWEVER, no Adjustment shall
reduce the Basic Rent as previously payable in accordance with this Article or
in Article 4 of this lease.
(3) In the event the Price Index ceases to use the 1967 average of 100 as the
basis of calculation, or if a substantial change is made in the terms or number of
items contained in the Price Index, then the Price Index shall be adjusted to the
figure that would have been arrived at had the manner of computing the Price
Index in effect at the date of this lease not been changed.
7. UTILITIES
The LESSEE shall pay, as they become due, all bills for electricity and other
utilities (whether they are used for furnishing heat or other purposes) that are
furnished to the leased premises and presently separately metered, and all bills
for fuel furnished to a separate tank servicing the leased premises exclusively.
*delete “air conditioning”
The LESSOR agrees to provide all other utility service and to furnish reasonably
If not applicable
hot and cold water and reasonable heat and air conditioning*(except to the
extent that the same are furnished through separately metered utilities or
separate fuel tanks as set forth above) to the leased premises, the hallways,
stairways, elevators, and lavatories during normal business hours on regular
business days of the heating and air conditioning* seasons of each year, to
furnish elevator service and to light passageways and stairways during business
hours, and to furnish such cleaning service as is customary in similar buildings
in said city or town, all subject to interruption due to any accident, to the making
of repairs, alterations, or improvements, to labor difficulties, to trouble in
obtaining fuel, electricity, service, or supplies from the sources from which they
are usually obtained for said building, or to any cause beyond the LESSOR’s
control.
LESSOR shall have no obligation to provide utilities or equipment other than
the utilities and equipment within the premises as the commencement date of
this lease. In the event LESSEE requires additional utilities or equipment, the
installation and maintenance thereof shall be the LESSEE’s sole obligation,
provided that such installation shall be subject to the written consent of the
LESSOR.
8. USE OF
The LESSEE shall use the leased premises only for the purpose of:
LEASED
PREMISES
________________________________________________________________
(fill in)
9. COMPLIANCE The LESSEE acknowledges that no trade or occupation shall be conducted in
WITH LAWS
the leased premises or use made thereof which will be unlawful, improper,
noisy or offensive, or contrary to any law of any municipal by-law or ordinance
in force in the city or town in which the premises are situated.
10. FIRE
The LESSEE shall not permit any use of the leased premises which will make
INSURANCE
voidable any insurance on the property of which the leased premises are a part,
or on the contents of said property or which shall be contrary to any law or
regulation from time to time established by the New England Fire Insurance
Rating Association, or any similar body succeeding to its powers. The LESSEE
shall on demand reimburse the LESSOR, and all other tenants, all extra
insurance premiums caused by the LESSEE’s use of the premises.
11.
The LESSEE agrees to maintain the leased premises in good condition, damage
MAINTENANCE
by fire and other casualty only excepted, and whenever necessary, to replace
plate glass and other glass therein, acknowledging that the leased premises
are now in good order and the glass whole. The LESSEE shall not permit
A. LESSEE’S
the leased premises to be overloaded, damaged, stripped, or defaced, nor suffer
OBLIGATIONS
any waste. LESSEE shall obtain written consent of LESSOR before erecting
any sign on the premises.
B. LESSOR’S
The LESSOR agrees to maintain the structure of the building of which the
OBLIGATIONS
leased premises are a part in the same condition as it is at the commencement of
the term or as it may be put in during the term of this lease, reasonable wear and
tear, damage by fire and other casualty only excepted, unless such maintenance
is required because of the LESSEE or those whose conduct the LESSEE is
legally responsible.
12.
The LESSEE shall not make structural alterations or additions to the leased
ALTERATIONS
premises, but may make non-structural alterations provided the LESSOR
ADDITIONS
consents thereto in writing, which consent shall not be unreasonably withheld or
delayed. All such allowed alterations shall be at LESSEE’s expense and shall
be in quality at least equal to the present construction. LESSEE shall not permit
any mechanics’ liens, or similar liens to remain upon the leased premises for
labor and material furnished to LESSEE or claimed to have been furnished to
LESSEE in connection with work of any character performed or claimed to
have been performed at the direction of LESSEE and shall cause any such lien
to be released of record forthwith without cost to LESSOR. Any alterations
or improvements made by the LESSEE shall become the property of the
LESSOR at the termination of occupancy as provided herein.
13.
The LESSEE shall not assign or sublet the whole or any part of the leased
ASSIGNMENT
premises without LESSOR’s prior written consent. Notwithstanding such
SUBLEASING
consent, LESSEE shall remain liable to LESSOR for the payment of all rent
and for the full performance of the covenants and conditions of this lease.
SUBORD-
14.
INATION
This lease shall be subject and subordinate to any and all mortgages, deeds
of trust and other instruments in the nature of a mortgage, now or at any time
hereafter, a lien or liens on the property of which the leased premises are a part
and the LESSEE shall, when requested, promptly execute and deliver such
written instruments as shall be necessary to show the subordination of this lease
to said mortgages, deeds of trust or other such instruments in the nature of a
mortgage.
15. LESSOR’S
The LESSOR or agents of the LESSOR may, at reasonable times, enter to view
ACCESS
the leased premises and may remove placards and signs not approved and
affixed as herein provided, and make repairs and alterations as LESSOR should
elect to do and may show the leased premises to others, and at any time within
three (3) months before the expiration of the term, may affix to any suitable part
of the leased premises a notice for letting or selling the leased premises or
property of which the leased premises are a part and keep the same so affixed
without hindrance or molestation.
16. INDEMNIFI-
The LESSEE shall save the LESSOR harmless from all loss and damage
CATION AND occasioned by the use or escape of water or by the bursting of pipes, as well
LIABILITY
as from any claim or damage resulting from neglect in not removing snow and
ice from the roof of the building or from the sidewalks bordering upon the
(fill in)
premises so leased, or by any nuisance made or suffered on the leased premises,
unless such loss is caused by the neglect of the LESSOR. The removal of snow
and ice from the sidewalks bordering upon the leased premises shall be
responsibility.
17. LESSEE’S
The LESSEE shall maintain with respect to the leased premises and the property
LIABILITY
of which the leased premises are a part comprehensive public liability insurance
INSURANCE
in the amount of
with property damage insurance in limits of
in responsible companies qualified to do business in
(fill in)
Massachusetts and in good standing therein insuring the LESSOR as well as
LESSEE against injury to persons or damage to property as provided. The
LESSEE shall deposit with the LESSOR certificates for such insurance at or
prior to the commencement of the term, and thereafter within thirty (30) days
prior to the expiration of any such policies. All such insurance certificates shall
provide that such policies shall not be cancelled without at least ten (10) days
prior written notice to each assured named therein.
18. FIRE
Should a substantial portion of the leased premises, or of the property of which
CASUALTY -
they are a part, be substantially damaged by fire or other casualty, or be taken by
EMINENT
eminent domain, the LESSOR may elect to terminate this lease. When such fire,
DOMAIN
casualty, or taking renders the leased premises substantially unsuitable for their
intended use, a just and proportionate abatement of rent shall be made, and the
LESSEE may elect to terminate this lease if:
(a) The LESSOR fails to give written notice within thirty (30) days of
intention to restore leased premises, or
(b) The LESSOR fails to restore the leased premises to a condition
substantially suitable for their intended use within ninety (90) days of
said fire, casualty or taking.
18. (CONT.)
The LESSOR reserves, and the LESSEE grants to the LESSOR, all rights which
the LESSEE may have for damages or injury to the leased premises for any
taking by eminent domain, except for damage to the LESSEE’s fixtures,
property, or equipment.
19. DEFAULT
In the event that:
AND BANK-
(a) The LESSEE shall default in the payment of any installment of rent
RUPTCY
or other sum herein specified and such default shall continue for ten
(10) days after written notice thereof; or
(b) The LESSEE shall default in the observance or performance of any
(fill in)
other of the LESSEE’s covenants, agreements, or obligations
hereunder and such default shall not be corrected within thirty (30)
days after written notice thereof; or
(c) The LESSEE shall be declared bankrupt or insolvent according to
law, or, if any assignment shall be made of LESSEE’s property for
the benefit for creditors.
then the LESSOR shall have the right thereafter, which such default continues,
to re-enter and take complete possession of the leased premises, to declare the
term of this lease ended, and remove the LESSEE’s effects, without prejudice
to any remedies which might be otherwise used for arrears of rent or other
default. The LESSEE shall indemnify the LESSOR against all loss of rent and
other payments which the LESSOR may incur by reason of such termination
during the residue of the term. If the LESSEE shall default, after reasonable
notice thereof, in the observance or performance of any conditions or covenants
on LESSEE’s part to be observed or performed under or by virtue of any of the
provisions in any article of this lease, the LESSOR, without being under any
obligation to do so and without thereby waiving such default, may remedy such
default for the account and at the expense of the LESSEE. If the LESSOR
makes any expenditures or incurs any obligations for the payment of money in
connection therewith, including but not limited to, reasonable attorney’s fees in
instituting, prosecuting or defending any action or proceeding, such sums paid
or obligations insured, with interest at the rate of
per cent per annum and
costs, shall be paid to the LESSOR by the LESSEE as additional rent.
20. NOTICE
Any notice from the LESSOR to the LESSEE relating to the leased premises or
to the occupancy thereof, shall be deemed duly served, if left at the leased
premises addressed to the LESSEE, or if mailed to the leased premises,
(fill in)
registered or certified mail, return receipt requested, postage prepaid, addressed
to the LESSEE. Any notice from the LESSEE to the LESSOR relating to the
leased premises or to the occupancy thereof shall be deemed duly served, if
mailed to the LESSOR by registered or certified mail, return receipt requested,
postage prepaid addressed to the LESSOR at such address as the LESSOR may
from time to time advise in writing. All rent notices shall be paid and sent to the
LESSOR at the agreed mailing address.
21. SURRENDER
The LESSEE shall at the expiration or other termination of this lease remove all
LESSEE’s goods and effects from the leased premises, (including, without
hereby limiting the generality of the foregoing, all signs and lettering affixed or

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