Retail Space Lease Agreement A Retail Space Lease Agreement outlines the terms for leasing retail space, specifying rent, maintenance obligations, and any specific retail use restrictions.
1.1. Description of Leased Premises
Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the commercial space described as: _______________ (the "Premises"), having an approximate floor area of _______ square feet, and located at _____________________________.
2.1. Lease Term
The term of this Agreement shall commence on the Effective Date and shall continue for a period of _____ years (the "Term"), unless terminated earlier in accordance with the terms of this Agreement.
3.1. Rent Amount
Tenant shall pay to Landlord during the Term a base monthly rent of $________ (the "Base Rent"), payable in advance on the first day of each calendar month, without setoff, demand, or deduction. The first month's Base Rent shall be due and payable upon execution of this Agreement.
3.2. Late Payment Penalty
If Tenant fails to pay any installment of Rent within five (5) days after the due date, Tenant shall pay a late payment charge equal to five percent (5%) of the overdue Rent.
Tenant shall use the Premises solely for the operation of its retail boutique business under the trade name "Urban Treasures Boutique" and for no other purpose without the prior written consent of Landlord.
5.1. Tenant's Obligations
Tenant shall, at its sole expense, maintain the Leased Premises in good repair and condition, including but not limited to the interior walls, floors, ceilings, plumbing, electrical, lighting, heating, and air conditioning systems, and any other areas or equipment exclusively serving the Premises. Tenant shall promptly notify Landlord of any required repairs that are the responsibility of the Landlord under this Agreement.
5.2. Landlord's Obligations
Landlord shall maintain, at its expense, the structural integrity of the building and the shared areas in which the Premises is located, including but not limited to the building's roof, foundation, exterior walls and parking areas.
Subject to Tenant's compliance with the terms of this Agreement, Tenant shall have exclusive rights to operate a retail boutique within the building and the property on which the Premises is located under the trade name "Urban Treasures Boutique" or such other trade name as Tenant may reasonably choose to adopt upon written notice to Landlord.
Tenant shall, at its expense, comply with all federal, state, and local laws, ordinances, rules, and regulations that apply to its use of the Premises, including but not limited to obtaining and maintaining any required licenses or permits. Tenant shall not engage in any activity on the Premises that violates any applicable law or regulation.
No assignment of this Agreement or subletting of the Premises shall be permitted without the prior written consent of Landlord, which shall not be unreasonably withheld or delayed.
If Tenant fails to pay rent or any other charge under this Agreement when due, or if Tenant fails to perform any other term or condition of this Agreement, Tenant shall be in default of this Agreement. Upon occurrence of any such default, Landlord may exercise any or all remedies available to it under applicable law, including but not limited to termination of this Agreement and repossession of the Premises.
Any notice, demand, request, or other communication required or permitted under this Agreement shall be in writing and shall be deemed to have been duly given if hand-delivered or sent by certified or registered mail, postage prepaid, return receipt requested, to the parties at their respective addresses as set forth in this Agreement, or to such other address as either party may specify by written notice to the other.
This Agreement shall be governed by, construed and enforced in accordance with the laws of the United States and the state in which the Premises is located, without regard to its conflicts of law principles.
This Agreement, including any exhibits, constitutes the entire understanding between the parties with respect to the subject matter hereof, and all prior or contemporaneous oral or written communications, understandings, or agreements between the parties are expressly superseded and replaced by this Agreement. No modification, amendment, waiver, or discharge of any provision of this Agreement shall be valid or binding unless in writing and signed by both parties.
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