Commercial Lease Agreement Template
This Commercial Lease Agreement (the "Agreement") is entered into on (the "Effective Date") by and between
, an individual having their usual place of living at (the "Landlord"), and
, an individual having their usual place of living at (the "Tenant"), collectively referred to as the "Parties" and individually as the "Party".
WHEREAS the Landlord possesses specific real property (the "Premises");
WHEREAS the Landlord desires to lease the Premises upon the terms and conditions contained herein;
WHEREAS the Tenant desires to lease the Premises upon the terms and conditions contained herein;
NOW, THEREFORE, for consideration of the obligations contained herein and other valuable considerations, the Parties have agreed as follows:
PremisesThe Premises mean the following space: .
The Premises are located at the following address: .
The Premises are used by the Tenant for the following commercial purpose: .
Lease term. The Tenant shall be allowed to occupy the Premises starting on (the "Commencement Date") and ending on (the "End Date").
Lease fee. The Tenant shall pay a fixed rent (the "Lease Fee") of . Payments will be due on the (the "Due Date").
Payment procedure
All payments will be made on or before the Due Date in cash.
If the payment of the Lease Fee is delayed for more than business days, the Tenant shall pay the Landlord a late fee equal to % of the overdue payment. The late fee will be charged until the Lease Fee is paid in full.
The Tenant shall pay as security for the successful performance of this Agreement (the "Security Deposit"). The Security Deposit should be paid on the Effective Date and may not be used to pay the last month's lease unless written permission is granted by the Landlord.
The Tenant shall pay for all utilities and services, including but not limited to utility bills for natural gas, water, electricity, sewage, air conditioning, . These payments are not included in the Lease Fee and should be paid directly to the responsible companies.
PossessionThe Landlord shall deliver the Premises to the Tenant in "as-is" condition. The Tenant acknowledges, represents, and warrants that the Premises have been inspected and that the Tenant is fully satisfied with their current condition.
If the Landlord fails to deliver possession of the Premises to Tenant on the Commencement Date, this Agreement will continue in effect, but the Lease fee will be prorated according to when possession is given to Tenant. If the delay is more than days from the Commencement Date, the Tenant has the right to terminate this Agreement and all payments made before should be returned to the Tenant.
At the end of the lease, the Tenant shall remove their personal property and return the Premises vacant and in good condition, except for normal wear and tear.
If the Tenant fails to remove their personal property in accordance with the terms above, the Tenant shall pay the Landlord a late fee of per day. The late fee will be charged until the Tenant vacates the Premises.
The Tenant shall have an exclusive right to use the Premises for commercial purpose. The Landlord is obliged not to lease any other space related to the Premises to any other third parties whose commercial activity competes with the Tenant's commercial purpose specified in this Agreement.
The Parties agree that the Landlord delivers in possession of the Tenant parking spaces near the Premises for the Tenant's needs (the "Spaces"). The Tenant shall not have the right to use more than the number of the Spaces as set forth herein. The Tenant shall pay for one Space. The Payment for the Spaces should be made along with the Lease Fee.
The Tenant has no right to assign or sublease any Spaces without the Landlord's prior written consent.
The Premises are delivered with the fixtures, appliances, and pieces of furniture (the "Furnishing") listed in Annex A that makes an integral part of this Agreement.
The Tenant has no right to use the furniture beyond the agreed-upon business purpose. The Tenant is liable for damages to the furniture and shall either repair the damaged item or compensate for the purchase of a similar one.
During the term of the Agreement, the Tenant shall obtain and maintain in full force and effect the following insurance coverage:
- Insurance covering the Tenant's equipment and personal property, as well as fixtures and improvements made by the Tenant or at the Tenant's costs, against all physical loss or damage, including but not limited to fire, explosion, smoke, hail, windstorm, earthquake, flood, and malicious mischief.
- Liability insurance with a limit of per event and aggregate.
The Tenant shall furnish the Landlord with either a certificate showing compliance with these insurance requirements or certified copies of all insurance policies within business days of the Landlord's written request. The Landlord should be provided with a -day notice of any potential material change or cancellation that may occur in an insurance policy.
Maintenance
The Parties shall promptly perform all necessary maintenance and repair, subject to the conditions specified in this Agreement and in compliance with applicable law.
The Landlord guarantees that the Premises comply with applicable building, sanitary, and fire requirements.
The Landlord must maintain, repair, and change exterior and interior structural components of the Premises, perform major repairs, and change all major building systems, such as heating, ventilation, air conditioning, electricity, water, and gas unless the repairs are caused by the gross negligence or willful misconduct of the Tenant.
The Tenant is obliged to maintain the Premises in a clean, safe, sanitary, and tenantable condition and perform the routine replacement and repair necessary to keep exterior and interior non-structural components of the Premises and all major building systems in good repair and proper working condition, except normal wear and tear.
The Landlord has the right to sell the Premises at any time. Notwithstanding any other provision of this Agreement, the Landlord has the right to terminate this Agreement upon days written notice to the Tenant that the Premises have been sold.
In case the Premises are destroyed by a third party's action, an act of God, or other casualty, the Agreement shall be deemed terminated, and the rights and obligations of the Parties hereunder shall cease, except such rights and liabilities as may have accrued to the time of such destruction. The Tenant will be entitled to a refund of deposits, if any, and lease fees on a pro-rata basis.
In case the Tenant fails to perform their obligations under the Agreement or violates the provisions of this Agreement (the "Default"), the Landlord has the right to provide the Tenant with a -day written notice (the "Default Notice") with a demand to cure the Default within a limited number of days. If the Tenant fails to meet the Landlord's requirements stated in the Default Notice within a specified term, the Landlord shall be entitled to take all and any actions to protect their interests. Specifically, the Landlord has the right to take protective and preventive measures, including but not limited to declaring all installments of the Lease Fee immediately due and payable, re-entering and taking possession of the Premises, or terminating the Agreement unilaterally without prior notice.
This Agreement may be terminated by mutual written consent of the Parties.
The Landlord may terminate this Agreement unilaterally upon providing -day prior written notice to the Tenant.
The Tenant may terminate this Agreement unilaterally upon providing -day prior written notice notice to the Landlord.
Neither Party shall disclose any terms or conditions of this Agreement or give a copy of this Agreement to any third party, except (a) if required by law or in any judicial proceeding, provided that the releasing Party has given the other Party reasonable notice of that requirement; (b) to the Party's attorneys, accountants, brokers, and other consultants or advisers, provided they agree to be bound by this paragraph.
All notices sent under or related to this Agreement will be deemed sufficiently given if delivered either via email or by certified mail with the return receipt requested to the following addresses:
If to the Landlord:
.
If to the Tenant:
.
This Agreement will be governed by and construed in accordance with the laws of the State of , except for its conflicts of laws principles.
The Parties agree on exclusive jurisdiction in the court of the State of .
MiscellaneousSeverability. If and to the extent any provision of this Agreement is held illegal, invalid, or unenforceable in whole or in part under applicable law, such provision or such portion thereof will be ineffective as to the jurisdiction in which it is illegal, invalid, or unenforceable to the extent of its illegality, invalidity, or unenforceability. The illegality, invalidity, or unenforceability of such a provision in that jurisdiction will not affect the legality, validity, or enforceability of such a provision or any other provision of this Agreement in any other jurisdiction.
Entire agreement. This Agreement is the complete and exclusive understanding between the Parties with respect to the subject matter hereof, superseding any prior agreements and communications, both written and oral, regarding such subject matter.
Amendments. This Agreement may only be modified, or any rights under it waived, by a written document executed by both Parties.
Binding effect. This Agreement shall be binding and inure to the benefit of the Parties and their respective permitted successors and assigns.
Annexes. Annex A: The list of furniture.
IN WITNESS WHEREOF, the Parties have signed this Agreement.
Details and signatures of the Parties
The Landlord
Signature: ____________
Full name:
Address:
Email:
Phone number:
Bank name:
Account number:
The Tenant
Signature: __________
Full name:
Address:
Email:
Phone number:
Bank name:
Account number:
ANNEX A
to the Commercial Lease Agreement dated
We, the undersigned, have agreed that the Landlord shall deliver the Premises with the following Furnishing: .
The Landlord
Signature: ____________
Full name:
The Tenant
Signature: ____________
Full name:
