Commercial Lease Template (1)

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  • 7/27/2019 Commercial Lease Template (1)



    THIS LEASE AGREEMENT (the "Lease") is made and entered into as of the _____ day

    of____________,20___, for the premises located at:


    1. References and Terms When used in this lease, the following terms shall have the

    meaning specified in this section:

    1.1. Landlord.________________________________________________________

    1.2. Tenant(s).________________________________________________________

    1.3. Leased Property.




    1.4. Suite or Premises._________________________________________________

    1.5. Term._________ Years beginning on the Commencement Date and concluding

    on _________________ including any extension periods.

    1.6. Commencement Date. _____________________________________________

    1.7. Termination Date._________________________________________________

    1.8. Extension Terms. Provided that Tenant is not in default of any terms of thisLease, Landlord covenants and agrees with Tenant that Landlord shall, at Tenant'soption, lease the Premises to Tenant at the expiration of the initial term for anadditional term of_________years under the same terms and provisions of thisLease and for an annual base rent of .

    1.9. Base Rent. (See 4)_____________________ ________________ _

  • 7/27/2019 Commercial Lease Template (1)


    1.10. Additional Rent. (See 4)________________________ _____________

    1.11. Security Deposit. (See 4)________________________ _____________

    1.12. Tenants Use. Tenant shall use the Premises solely for the operation of a

    business known as _____________________________________and activitiesrelated to said business, all as may be permitted by law.

    1.13. Tenants Pro Rata Share. (See 4 herein)_____________________________

    1.14. Number of Tenants allotted parking spaces. (See 6)___ __________

    1.15. Landlords Notice Address. (See 30)




    1.16. Tenants Notice Address. (See 30)




    1.17. Required Insurance Amount. (See 15)___ _ _________

    1.18. Rules and Regulations. (See 8, and 29)___ _ _________

    1.19. Normal Business Hours. (See 2) _ __ __________

    2. Lease of Use.

    2.1. For valuable considerations received, the Landlord hereby leases to Tenant, uponand subject to the terms of this Lease, and Tenant hereby takes from Landlord thePremises, upon and subject to the terms of this Lease.

    2.2. Landlord hereby represents and warrants to Tenant that as of the CommencementDate (hereinafter defined) the building systems and structural and exteriorportions of the Building, including without limitation the roof, the plumbing,air conditioning, electrical, water, telephone, sewer system and gas facilitiesserving the Premises (as applicable), are in good working condition, are incompliance with all laws, codes, regulations and ordinances of any governmental


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    authorities and are adequate and sufficient for Tenants use of the Premises.Landlord hereby further represents and warrants to Tenant that as of theCommencement Date Landlord is owner in fee simple of the Property, subject toencumbrances as of record appear, and has full right, power and authority to enterinto this Lease.

    2.3. Landlord shall: (a) provide sufficient heat and air conditioning to the CommonAreas to maintain the Common Areas at comfortable temperatures during theTenants Normal Business Hours; and (b) cause the Common Areas to be keptsecure, clean and in first class condition.

    2.4. The Premises include the right of ingress and egress thereto and therefromthrough the Common Areas; however, Landlord reserves the right to makereasonable changes and alterations to the Building, fixtures and equipmentthereof, to the street entrances, doors, halls, corridors, lobbies, passages, elevators,stairways, public toilets and other parts thereof which Landlord may deem

    reasonably necessary or desirable, provided that no such changes or alterationsshall materially adversely affect access to and from and enjoyment of thePremises.

    2.5. Tenant shall comply with all municipal, state and federal rules, regulations andordinances governing occupancy of the Premises. Tenant may use the Premisesfor any other business as may be approved in writing by Landlord. Tenant shallnot use or permit or suffer the use of the Premises for any other business orpurpose. Tenant further agrees that it will operate its business so that no odorsemanating therefrom will materially interfere with the reasonable use andenjoyment of any other Tenant of the Building during the Lease Term (includingany renewal terms exercised by Tenant), Tenant agrees that it shall use thePremises at all times so as not to violate any agreement, easement, restriction orany other matter of record to which the Premises is now subject, as appears on theLand Records

    3. Term.

    3.1. The term of this Lease shall commence on the date stated in Section 1. TheTenant shall begin paying Base Rent according to the attached schedule as of theCommencement Date.

    3.2. Tenant shall exercise its renewal options by giving notice in writing to Landlord

    at least six months prior to the end of the initial term, time being of the essence. IfTenant fails to give such notice, then this Lease shall automatically terminate atthe Termination Date.

    3.3. Tenant shall have the right to access the Premises prior to the CommencementDate to perform work and move-in activities and for all other reasonable businesspurposes, provided that any such access shall be on such reasonable conditionsand limitations as Landlord shall require. All of the terms and conditions of this


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    Lease, other than Tenants obligations to pay Rent, shall apply to Tenant duringany such period of early access.

    4. RENT .

    4.1. Base Rent . During the Lease Term, the Tenant shall pay to the Landlord at theNotice address provided, or at such other place or to such other person asLandlord may designate, as annual base rent for the Premises the sums specifiedin above ("Base Rent"), payable in advance on the first day of each and everymonth of the Lease Term in equal monthly installments.

    4.2. Additional Rent, Pro Rata Share . In addition to Base Rent, Tenant shall payLandlord as provided below Tenants Pro Rata Share of any increase in PropertyTaxes (as hereinafter defined) and Operating Expenses (as hereinafter defined) foreach calendar year of the term of this Lease (each such year, a ComparisonYear) in excess of Property Taxes and Operating Expenses incurred during the

    base calendar year. Tenants Pro Rata Share or Tenants Proportionate Shareshall mean the number of rentable square feet of the Premises divided by therentable area and is listed above.

    4.3. Property Taxes shall mean all real estate taxes, all sewer, water and fireassessments, levies and any other charges which are assessed, levied or chargedupon the Property by reason of or connected to Landlord's ownership of theProperty during any calendar year or portion thereof during the Lease Term.

    4.4. Operating Expenses shall mean the total actual costs and expenses paid in anycalendar year in keeping with a first class business practice, incurred by theLandlord or for which Landlord is obligated in managing, operating, servicingand maintaining all Common Areas and facilities specifically, including withoutlimitation the costs of Landlords insurance, utilities, maintenance, supplies andwages, maintaining landscaped areas, planting, replanting, resurfacing andmaintenance of parking lots (including restriping), repairs and replacements,sanitary control, canopy, light poles and fixtures, maintenance and repair of thesprinkler system, elevator, installation, maintenance and repair of all signage(excluding signage for other tenants) sewers, drainage, removal of snow, trash,rubbish, maintenance of trash bins and dumpsters, maintenance of propane tanksand enclosures, holiday decorations, sidewalks, costs of on site personnel toimplement such services (including to direct parking and police the CommonAreas) and administrative and overhead costs, and subject to the exceptions setforth below. The term Common Areas shall mean all portions of the Buildingand the Property (excluding the Premises and any other space in the Buildingdesigned to be leased to another tenant for its exclusive use) including publicbathrooms and lobbies, the roof, foundation, exterior walls, landscaped areas,parking lots and sidewalks.


  • 7/27/2019 Commercial Lease Template (1)


    4.5. Commencing on the first anniversary of the Commencement Date, and for eachYear thereafter (prorated for any calendar year falling partially within the Term),Tenant shall pay to Landlord as Additional Rent Tenants Proportionate Share ofapplicable increases of Property Taxes and Operating Expenses for the applicableYear. Landlord shall furnish to Tenant a written statement setting forth the

    following: (a) the amount Landlord estimates Landlord will pay for OperatingExpenses (broken down into reasonable categories), and Property Taxes for theprior year, (b) Landlords estimate of Tenants Proportionate Share of theincreases in Operating Expenses and Property Taxes; and (c) a calculation of one-twelfth