Standard Commercial Lease Template

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STANDARD COMMERCIAL LEASE
This LEASE is made this
day of
, 20___, by and between
, a __________________________(hereinafter "LESSOR"), and
, a
corporation (hereinafter "LESSEE").
WITNESSETH:
WHEREAS, LESSOR is the fee simple owner of certain real property located in
_____________________________, Missouri, legally described in Exhibit "A" attached hereto
and made a part hereof and commonly known and numbered as
, together with the building constructed thereon
consisting of
square feet and the other improvements located thereon and the
appurtenances thereunto belonging (collectively the "Premises"; and
WHEREAS, LESSOR has agreed to lease the Premises to LESSEE and LESSEE has
agreed to lease the Premises from LESSOR on the terms stated herein.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein, LESSOR and LESSEE hereby covenant and agree as follows:
1.
PREMISES: LESSOR leases the Premises to LESSEE, and LESSEE leases the
Premises from LESSOR. The Premises shall be used only for
, and for no other purpose, without LESSOR'S prior written consent,
which shall not be unreasonably withheld.
2.
RENT: LESSEE agrees to pay as rent for the Premises,
Dollars ($
) per year ($
per square foot), payable in equal monthly installments of
Dollars ($
) each, payable in advance on
the first day of each calendar month during the term of this Lease. Any rent payments received
by LESSOR more than ten (10) days late shall bear interest from the dates they are due until the
dates they are paid, at a rate of ten percent (10%) per annum.
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STANDARD COMMERCIAL LEASE
This LEASE is made this
day of
, 20___, by and between
, a __________________________(hereinafter "LESSOR"), and
, a
corporation (hereinafter "LESSEE").
WITNESSETH:
WHEREAS, LESSOR is the fee simple owner of certain real property located in
_____________________________, Missouri, legally described in Exhibit "A" attached hereto
and made a part hereof and commonly known and numbered as
, together with the building constructed thereon
consisting of
square feet and the other improvements located thereon and the
appurtenances thereunto belonging (collectively the "Premises"; and
WHEREAS, LESSOR has agreed to lease the Premises to LESSEE and LESSEE has
agreed to lease the Premises from LESSOR on the terms stated herein.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein, LESSOR and LESSEE hereby covenant and agree as follows:
1.
PREMISES: LESSOR leases the Premises to LESSEE, and LESSEE leases the
Premises from LESSOR. The Premises shall be used only for
, and for no other purpose, without LESSOR'S prior written consent,
which shall not be unreasonably withheld.
2.
RENT: LESSEE agrees to pay as rent for the Premises,
Dollars ($
) per year ($
per square foot), payable in equal monthly installments of
Dollars ($
) each, payable in advance on
the first day of each calendar month during the term of this Lease. Any rent payments received
by LESSOR more than ten (10) days late shall bear interest from the dates they are due until the
dates they are paid, at a rate of ten percent (10%) per annum.
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3.
TERM: This Lease shall be for a term commencing on
,
_______________and ending at midnight on
.
4.
DELIVERY AND ACCEPTANCE OF PREMISES: LESSEE has inspected
and knows the condition of the Premises, and accepts the same in their present condition.
LESSEE acknowledges that LESSOR has made no warranties or representations concerning the
Premises.
5.
UTILITIES: LESSEE agrees to furnish all utilities and pay all electric, gas,
water, fuel and sewer company charges, as well as all charges for any additional services or other
utilities used on or assessed against the Premises.
6.
LICENSING AND FEES: LESSEE shall obtain all necessary licensing and
registrations for the use and operation of the Premises, and shall pay when due all license and
registration fees.
7.
TAXES: The following provisions shall apply:
7.1. State and county real estate taxes for the Property during the calendar year [
] ("Base Year") were $
, and city real estate taxes for the Property during the
Base Year were $
. LESSEE agrees to pay as additional rent all amounts by which
the real estate taxes may exceed these amounts in future years during the term of this Lease. If
LESSOR receives a real estate tax bill for amounts exceeding the amounts stated above,
LESSOR shall forward a copy of the bill to LESSEE, together with a letter stating the amount of
the excess, and within ten (10) days of its receipt of the bill and letter, LESSEE shall pay the
excess amount to LESSOR.
7.2. LESSEE shall timely pay or cause to be paid when due all personal property,
sales, use and other taxes or assessments, general or special, now or hereafter imposed by any
federal, state, or local government on the Premises or on the ownership, lease, sale, possession or
use of the Premises, whether the same are assessed against LESSOR or LESSEE. If any such tax
is assessed against LESSOR, LESSOR shall provide LESSEE with written notice of the
assessment. Upon reasonable demand, LESSEE shall provide LESSOR with proof of all required
payments.
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8.
INSURANCE: The following provisions shall apply:
8.1. LESSOR shall obtain "All Risk" Property Insurance on the Property,
including fixtures and non-removable tenant improvements in such amount as LESSOR deems
sufficient. LESSEE shall cooperate with LESSOR so that the lowest insurance rating can be
obtained. Accordingly, LESSEE shall fully cooperate with the insurance carrier in implementing
any measures of complying with any requirements the carrier may have. All costs of such
measures or compliance shall be borne by LESSEE. If the insurance rates published by the
Insurance Service Office of the State of Missouri are increased as the result of any activities or
hazards introduced by LESSEE, then LESSEE shall pay the amount by which the insurance
premiums are increased because of such activities or hazards.
8.2. The "All Risk" Property Insurance premiums on the Property during the
calendar year [
] ("Base Year") will total $
. LESSEE agrees to pay as
additional rent all amounts by which the insurance premiums may exceed, for whatever reason,
this amount in future years during the term of this Lease. If LESSOR receives an insurance
premium bill for an amount exceeding the amount stated above, LESSOR shall forward a copy
of the bill to LESSEE, together with a letter stating the amount of the excess, and within ten (10)
days of its receipt of the bill and letter, LESSEE shall pay the applicable excess amount to
LESSOR.
8.3. At its sole cost and expense, LESSEE shall purchase and maintain
commercial general liability insurance on the Premises, including a property damage provision,
insuring against liability for injury to persons or property occurring on or about the Premises or
arising out of the ownership, maintenance, use or occupancy of the Premises. The insurance
shall be in an amount not less than
Dollars ($
)
combined single limit per occurrence, and a general policy aggregate of not less than
Dollars ($
) if such aggregate applies to this policy.
8.4. All policies of liability insurance obtained now or at any future time by
LESSEE, must insure the interest of LESSOR as Additional Insured under the from of
endorsement which makes the coverage thereunder primary insurance as regards LESSOR, and
non-contributory with any other insurance carried by LESSOR, shall include a long form non-
contributory clause naming LESSOR, as well as LESSEE, as an insured. The policies shall also
provide that LESSOR be given at least thirty (30) days notice before any cancellation or material
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modification of the policy.
8.5. Upon request, LESSEE shall furnish to LESSOR Certificates of Insurance
evidencing the insurance coverage required by these provisions, and providing that LESSOR
shall receive 30 days' notice of cancellation or material change in coverage. Upon reasonable
request, LESSEE shall furnish LESSOR with a copy of the premium bill and evidence of
payment.
8.6. In the event of casualty damage to the Premises, and if LESSOR is carrying
the "All Risk" Property Insurance, LESSEE shall promptly report the damage to LESSOR and
LESSOR shall make whatever claim against the insurance company that LESSOR deems
advisable. LESSEE shall cooperate in connection with the claim. In the event of either damage to
the Premises by casualty or an assertion of liability, or if LESSEE is carrying the applicable
insurance policy, LESSEE shall promptly report the same to the applicable insurance company
and make a claim for insurance proceeds, delivering to LESSOR a copy of the claim. Any
insurance proceeds shall be applied to the rebuilding or repair of the property, with any excess
paid to LESSOR or disbursed as LESSOR deems appropriate.
9.
LIENS AND ENCUMBRANCES: This Lease shall be subject and subordinate
to any present or future mortgages, deeds of trust, and other liens or encumbrances executed or
consented to by LESSOR, which do not materially adversely affect LESSEE'S use of the
Premises. The holder of any such mortgage, deed of trust, lien or encumbrance may notify
LESSEE in writing of its interest, and in such event LESSEE shall send copies of all notices or
communications regarding this Lease to the holder of the mortgage, deed of trust, lien or
encumbrance. Such holder shall be entitled to take any action or exercise any rights reserved to
LESSOR under this Lease. LESSEE shall, within ten (10) days after receipt of a request
therefor, execute and deliver to LESSOR and the holder of such a mortgage, deed of trust, lien or
other encumbrance, an estoppel certificate and/or agreement evidencing the subordination of this
Lease as described above, which estoppel certificate and/or agreement shall be in form
satisfactory to LESSOR and such holder.
9.1. LESSEE shall not encumber or permit the encumbrance of the Premises or
this leasehold estate by any mortgage, deed of trust, assignment, security interest, lien or other
charge, without LESSOR'S prior written consent, which consent shall not be unreasonably
withheld.
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9.2. This Lease does not require LESSEE to improve the Premises or construct
any improvements or additions on the Premises. Any improvements or additions to the Premises
which LESSEE might make or permit are for the sole use of LESSEE and will not benefit
LESSOR'S reversion. LESSEE is not, and shall not be deemed to be, the agent of LESSOR in
contracting or arranging for any improvements to the Premises or any construction on the
Premises. Additional provisions relating to alterations and improvements are contained in
Section 13 of this Lease.
9.3. LESSEE shall promptly pay all bills for labor done or material or equipment
supplied for any construction or repair work done on the Premises. Failure to promptly pay any
such bills shall be a default under this Lease. LESSEE shall defend and indemnify LESSOR
from all liability, damages or expense resulting from any mechanic's lien claims affecting the
Premises.
10.
MAINTENANCE AND REPAIR: LESSOR shall repair and maintain the roof,
exterior walls and foundation of any structures located on the Premises.
10.1. LESSEE shall have the obligation of maintaining all portions of the
Premises which LESSOR is not specifically obligated to maintain under the above section.
LESSEE shall maintain and keep in good working order all equipment, fixtures, and systems on
the Premises, and shall perform routine repair and maintenance on the same, including without
limitation all heating and air conditioning systems and equipment. In addition and without
limitation, LESSEE shall protect water pipes, heating and air conditioning equipment, plumbing,
fixtures, appliances, and sprinkler systems from becoming frozen. LESSEE shall keep the
Premises and all approaches, sidewalks, parking areas, truck pads, and adjacent alleys clean,
sightly, and free of snow and rubbish, and shall keep and maintain the same in good condition
repairing cracks and potholes and repairing the same when needed.
10.2. LESSEE shall be responsible for all window glass replacement, for
maintenance of light fixtures and lamps throughout the Premises, for repair and routine
maintenance of gas heaters, boilers, water pipes, plumbing apparatus and fixtures, gutters,
downspouts, and all other portions of or equipment upon the Premises, including without
limitation all mechanical systems which are a part of the Premises. LESSEE shall replace any
worn or outdated equipment with new equipment of like quality and durability.
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