"Commercial Rental Agreement Template" - Delaware

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Delaware Commercial Rental Agreement
This ​ C ommercial Rental Agreement (hereinafter referred to as the “Agreement”) is
entered into as of _________________ by and between ________________________,
with a mailing address of ________________________________________________
_____________________________________ (hereinafter referred to as the “Tenant”)
and ________________________, with a mailing address of ____________________
_____________________________________________________________________
(hereinafter referred to as the “Landlord”), collectively referred to as the “Parties,”
both of whom agree to be bound by this Agreement.
NOW, THEREFORE, FOR AND IN CONSIDERATION of the mutual
promises and agreements contained herein, the Tenant agrees to rent the
Premises from the Landlord under the following terms and conditions:
1. The Premises. The Landlord agrees to lease the property described below to the
Tenant:
_____________________________________________________________________
Street Address, City, State, ZIP Code
______________________________
______________________________
Area (in square feet)
Type of space
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
Additional description
The aforementioned property (hereinafter referred to as the “Premises”) shall be
leased wholly by the Tenant.
2. Rent Term and Termination. ​ T his agreement will come into effect on
___________________ and will continue as a month-to-month tenancy (hereinafter
referred to as the “Rent Term”).
The Landlord or Tenant must give the other party a written ___________
________________ notice of non-renewal. If the Tenant plans to leave on or after the
first of any month, they are responsible for that month’s full Rent. If the Tenant does
not provide the Landlord with a written ______ ________________ notice, they shall
forfeit their full deposit amount.
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Delaware Commercial Rental Agreement
This ​ C ommercial Rental Agreement (hereinafter referred to as the “Agreement”) is
entered into as of _________________ by and between ________________________,
with a mailing address of ________________________________________________
_____________________________________ (hereinafter referred to as the “Tenant”)
and ________________________, with a mailing address of ____________________
_____________________________________________________________________
(hereinafter referred to as the “Landlord”), collectively referred to as the “Parties,”
both of whom agree to be bound by this Agreement.
NOW, THEREFORE, FOR AND IN CONSIDERATION of the mutual
promises and agreements contained herein, the Tenant agrees to rent the
Premises from the Landlord under the following terms and conditions:
1. The Premises. The Landlord agrees to lease the property described below to the
Tenant:
_____________________________________________________________________
Street Address, City, State, ZIP Code
______________________________
______________________________
Area (in square feet)
Type of space
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
Additional description
The aforementioned property (hereinafter referred to as the “Premises”) shall be
leased wholly by the Tenant.
2. Rent Term and Termination. ​ T his agreement will come into effect on
___________________ and will continue as a month-to-month tenancy (hereinafter
referred to as the “Rent Term”).
The Landlord or Tenant must give the other party a written ___________
________________ notice of non-renewal. If the Tenant plans to leave on or after the
first of any month, they are responsible for that month’s full Rent. If the Tenant does
not provide the Landlord with a written ______ ________________ notice, they shall
forfeit their full deposit amount.
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3. Security Deposit. ​ A s part of this Agreement, the Landlord requires a prepayment in
the amount of $________________ (hereinafter referred to as the “Security Deposit”)
for the faithful performance of the Tenant under the terms and conditions of this
Agreement.
The Security Deposit shall be paid upon the execution of this Agreement and shall be
returned to the Tenant within ______ days after the end of the Rent Term less any
itemized deductions.
4. Rent. ​ T he Tenant shall pay the Landlord $________________ (hereinafter referred
to as the "Rent") for every month of their tenancy. The Tenant is required to pay the
first (1st) month's Rent:
❏ Upon the execution of this Agreement;
❏ Upon the first (1st) day of the Rent Term.
The Rent shall be due on the ______ of every month (hereinafter referred to as the
“Due Date”) and paid under the following instructions:
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
Payment Method, Time, Other Details
If the Rent is not paid on the Due Date, there shall be a penalty of
$________________ due as a one-time payment. Rent is considered late when it has
not been paid within ______ day(s) after the Due Date.
If the Tenant pays the Rent with a check that is not honored due to insufficient funds
(NSF) there shall be a fee of $________________ per incident.
It is recommended that renter's insurance be purchased at the Tenant's expense.
5. Use of Premises. ​ T he Landlord is leasing the Premises to the Tenant and the Tenant
is hereby agreeing to lease the Premises for the following use and purpose:
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
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Any change in use or purpose the Premises other than as described above shall be
upon prior written consent of the Landlord only.
The Tenant shall comply with all rules, regulations and laws of any governmental
authority with respect to use and occupancy. The Tenant shall not conduct or permit to
be conducted upon the Premises any business or permit any act which is contrary to or
in violation of any law, rules or regulations and requirements that may be imposed by
any authority or any insurance company with which the Premises is insured, nor will
the Tenant allow the Premises to be used in any way which will invalidate or be in
conflict with any insurance policies applicable to the building. In no event shall
explosives or extra hazardous materials be taken onto or retained on the Premises.
Furthermore, the Tenant shall not install or use any equipment that will cause undue
interference with the peaceable and quiet enjoyment of the Premises by other
inhabitants of the building.
6. Expenses. ​ S elect one of the options listed below:
❏ This Lease will be a Gross Lease.
The Rent will be the entirety of the monthly rent. Thus, the Tenant is not obligated to
pay any additional expenses, including utilities, real estate taxes, insurance on the
Premises, charges, or expenses of any nature whatsoever in connection with the
ownership and operation of the Premises.
The Landlord shall be obligated to maintain the general exterior structure of the
Premises and shall maintain all major systems such as the heating, plumbing, and
electrical. The parking area shall be maintained by the Landlord including the removal
of any snow or environmental hazards as well as the grounds and lands surrounding
the Premises. The Landlord shall maintain at their expense casualty insurance for the
Premises against loss by fire which may or may not include any extended coverage.
The Tenant will provide and maintain personal liability and property damage
insurance as a Tenant, at least to the limits of one million dollars ($1,000,000.00), that
will designate the Landlord as an "also named insured", and shall provide the
Landlord with a copy of such insurance certification or policy prior to the effective
date of this Lease.
❏ This Lease will be a Modified Gross Lease.
It is the intention of the Parties that this Lease shall be considered a “Modified Gross
Lease”. In addition to the Rent, the Tenant shall be obligated to pay the following
monthly expenses:
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_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
The Landlord shall pay the following monthly expenses:
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
❏ This Lease will be a Triple Net Lease.
It is the intention of the Parties that this Lease shall be considered a “Triple Net
Lease”.
The Landlord shall have no obligation to provide any services, perform any acts, or
pay expenses, charges, obligations or costs of any kind whatsoever with respect to the
Premises. The Tenant hereby agrees to pay one-hundred percent (100%) of any and all
Operating Expenses as hereafter defined for the entire term of the Lease and any
extensions thereof in accordance with specific provisions hereinafter set forth.
The term “Operating Expenses” shall refer to all costs to the Landlord of operating
and maintaining the Premises, and shall include, without limitation, real estate taxes,
personal property taxes, and assessments, management fee(s), heating, air
conditioning, HVAC, electricity, water, waste disposal, sewage, operating materials
and supplies, service agreements and charges, lawn care, snow removal, restriping,
repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the
validity or applicability of any governmental acts which may affect operating
expenses, and all other direct operating costs of operating and maintaining the
Premises and related parking areas, unless expressly excluded from operating
expenses.
The Tenant shall maintain, at all times during the Term of this Lease, comprehensive
general liability insurance in an insurance company licensed to do business in the
State of ________________ and that is satisfactory to the Landlord, properly
protecting and indemnifying the Landlord with single limit coverage of not less than
$________________ for property damage.
During the Term of this Lease, the Tenant shall furnish the Landlord with
certificate(s) of insurance, in a form acceptable to the Landlord, covering such
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insurance so maintained by the Tenant and naming the Landlord and the Landlord's
mortgagees, if any, as additional insured.
7. Improvements. The Tenant agrees that no leasehold improvements, alterations or
changes of any nature shall be made to the leasehold premises or the exterior of the
building without first obtaining the consent of the Landlord in writing, which consent
shall not be unreasonably withheld, and thereafter, any and all leasehold
improvements made to the Premises which become affixed or attached to the
leasehold Premises shall remain the property of the Landlord at the expiration or
termination of this Lease Agreement. Furthermore, any leasehold improvements shall
be made only in accordance with applicable federal, state or local codes, ordinances or
regulations, having due regard for the type of construction of the building housing the
subject leasehold Premises.
Nothing in the Lease shall be construed to authorize the Tenant or any other person
acting for the Tenant to encumber the rents of the Premises or the interest of the
Tenant in the Premises or any person under and through whom the Tenant has
acquired its interest in the Premises with a mechanic’s lien or any other type of
encumbrance. Under no circumstance shall the Tenant be construed to be the agent,
employee or representative of the Landlord. In the event a lien is placed against the
Premises, through actions of the Tenant, the Tenant will promptly pay the same or
bond against the same and take steps immediately to have such lien removed. If the
Tenant fails to have the lien removed, the Landlord shall take steps to remove the lien
and the Tenant shall pay the Landlord for all expenses related to the Lien and removal
thereof and shall be in default of this Lease.
8. Licenses and Permits. ​ A copy of any and all local, state or federal permits
acquired by the Tenant which are required for the use of the Premises shall be kept
on-site at all times and shall be readily accessible and produced to the Landlord and/or
their agents or any local, state, or federal officials upon demand.
9. Obligations of Tenant. ​ T he Tenant shall be primarily responsible whenever
needed for the maintenance and general pickup of the entranceway leading into the
Premises, so that this is kept in a neat, safe, and presentable condition. The Tenant
shall also be responsible for all minor repairs and maintenance of the leasehold
Premises, particularly those items which need immediate attention and which the
Tenant, or their employees, can do and perform on their own, including but not
limited to, the replacement of light bulbs, as well as the normal repair and cleaning of
windows, cleaning, and clearing of toilets, etc., and the Tenant shall properly maintain
the Premises in a good, safe, and clean condition.
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