Commercial Lease Agreement A Commercial Lease Agreement outlines the terms for leasing commercial property, specifying rent, lease duration, maintenance responsibilities, and any additional terms.
This Commercial Lease Agreement ("Agreement") is entered into as of the date of last signature below, by and between the landlord, Oakwood Plaza Office Complex, having its principal place of business at [Landlord's Address] ("Landlord"), and the tenant, Advanced Solutions Consulting LLC, a [State] limited liability company, having its principal place of business at [Tenant's Address] ("Tenant").
Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the premises located at [Premises Address], Suite [Number], consisting of approximately [Square Feet] square feet ("Premises"). The Premises shall be used by Tenant solely for [Permitted Use] purposes.
3.1. Initial Term
The initial term of this Agreement shall commence on [Commencement Date] and shall continue in full force and effect for a period of [Lease Term] years, unless sooner terminated as provided herein ("Initial Term").
3.2. Renewal
Tenant shall have the option to renew this Agreement for [Number] additional [Renewal Term Length] period(s) (each, a "Renewal Term") upon the same terms and conditions as set forth herein, including any rent adjustments, by providing written notice to Landlord not less than [Number] days prior to the expiration of the Initial Term or then current Renewal Term, as applicable.
4.1. Base Rent
Tenant shall pay to Landlord, without demand or set-off, as base rent for the Premises ("Base Rent"), the sum of [Rent Amount] per month, payable in advance on the first day of each calendar month during the Term. The first month's Base Rent shall be paid upon execution of this Agreement.
4.2. Late Charges
If any rent payment due under this Agreement is not received by Landlord within [Number] days after its due date, Tenant shall pay to Landlord a late charge equal to [Percentage]% of the overdue rent payment.
Upon execution of this Agreement, Tenant shall deposit with Landlord the sum of [Security Deposit Amount] as a security deposit ("Security Deposit"), to be held by Landlord as security for Tenant's faithful performance of all terms, conditions, and provisions of this Agreement. The Security Deposit shall be returned to Tenant, without interest, within [Number] days after the expiration or sooner termination of this Agreement, less any amounts applied by Landlord for unpaid rent, damages, or other charges due hereunder.
6.1. Tenant's Obligations
Tenant shall, at Tenant's sole expense, keep and maintain the Premises in a clean, safe, and operable condition and comply with all applicable laws, ordinances, and regulations relating to the use, condition, and maintenance of the Premises. Tenant shall promptly repair any damage to the Premises caused by Tenant or Tenant's agents, employees, or invitees.
6.2. Landlord's Obligations
Landlord shall, at Landlord's sole expense, maintain and repair the structural components of the building in which the Premises are located, including the roof, exterior walls, and foundation. Landlord shall also maintain and repair any building systems or equipment serving the Premises, including HVAC, plumbing, and electrical systems, provided that Tenant shall reimburse Landlord for the cost of any such maintenance or repairs necessitated by the negligence or willful misconduct of Tenant or Tenant's agents, employees, or invitees.
No alterations, additions, or improvements to the Premises shall be made by Tenant without the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned, or delayed. Any alterations, additions, or improvements made by Tenant with Landlord's consent shall, upon completion, become the property of Landlord and shall remain upon and be surrendered with the Premises at the expiration or sooner termination of this Agreement, unless otherwise agreed by the parties in writing.
Tenant shall, at Tenant's sole expense, obtain and maintain in effect during the Term, commercial general liability insurance, property insurance, and such other insurance policies as may be reasonably required by Landlord to protect Landlord's interest in the Premises. All insurance policies shall name Landlord as an additional insured and shall provide for at least [Number] days' prior written notice to Landlord of any cancellation, non-renewal, or material modification of coverage.
9.1. Default
A default by Tenant shall occur if Tenant (a) fails to pay any rent or other amounts due hereunder within [Number] days after written notice of such failure; (b) abandons or vacates the Premises without Landlord's consent; (c) fails to comply with any other term, condition, or provision of this Agreement within [Number] days after written notice thereof from Landlord; or (d) files a petition in bankruptcy or becomes subject to any insolvency proceeding.
9.2. Remedies
In the event of any default by Tenant, Landlord shall have, in addition to any other remedies available under applicable law, the right to terminate this Agreement upon written notice to Tenant and to recover from Tenant all damages, including without limitation, any unpaid rent and other amounts due hereunder, the cost of reletting the Premises, and any deficiency in rent during the unexpired portion of the Term.
Tenant hereby indemnifies and holds harmless Landlord from and against any and all claims, demands, losses, damages, liabilities, and expenses, including attorney fees, arising from or in connection with any injury, death, or damage to any person or property occurring on the Premises, unless caused solely by the negligence or willful misconduct of Landlord or Landlord's agents, employees, or invitees.
This Agreement shall be governed by, construed, and enforced in accordance with the laws of the United States and the State of [State].
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreements, discussions, and negotiations. No modification, amendment, or waiver of any provision of this Agreement shall be binding unless in writing and signed by the party against whom such modification, amendment, or waiver is sought to be enforced.
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
OAKWOOD PLAZA OFFICE COMPLEX
By: ___________________________
Name: _________________________
Title: ________________________
ADVANCED SOLUTIONS CONSULTING LLC
By: ___________________________
Name: _________________________
Title: ________________________
In this Commercial Lease Agreement, you will see the following sections:
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