COMMERCIAL LEASE AGREEMENT
This Commercial Lease Agreement (the "Lease") is made on [date] between [Landlord name] (the "Landlord") and [Tenant legal name], a [state] [entity type] (the "Tenant").
1. Premises
The Landlord leases to the Tenant [suite or unit number] at [address], with about [square feet] square feet (the "Premises"), plus [number] parking spaces and shared use of common areas.
2. Term
The Lease starts on [commencement date] and ends on [expiration date]. The Tenant may renew for [one] additional term of [years] years by written notice at least [6] months before expiration, at a rent set under clause 3.
3. Base rent
The Tenant pays base rent of [amount] USD per month, due on the [1st]. Base rent increases by [3]% on each anniversary of the commencement date. [Option: The first number months are rent-free.]
4. Operating expenses
This is a [gross / modified gross / triple net] lease. [For net leases:] The Tenant also pays its share of [property taxes, building insurance and common area maintenance], equal to [percentage]% of the building total, paid monthly on estimates and reconciled once a year.
5. Security deposit
The Tenant pays a security deposit of [amount], returned within [30] days after the Lease ends, less amounts owed.
6. Permitted use
The Tenant will use the Premises only for [permitted use, for example a dental office] and will comply with zoning, licensing and building rules.
7. Improvements
The Tenant may make improvements only with the Landlord’s written approval of the plans. [The Landlord will provide an allowance of amount.] At the end, the Tenant removes its trade fixtures and repairs any damage.
8. Repairs
The Landlord maintains the roof, structure and building systems. The Tenant maintains the interior of the Premises and its own equipment.
9. Insurance
The Tenant keeps commercial general liability insurance of at least [amount] per occurrence, naming the Landlord as additional insured, and insurance on its own property.
10. Assignment and subletting
The Tenant may not assign the Lease or sublet the Premises without the Landlord’s written consent, which will not be unreasonably withheld.
11. Default
If the Tenant fails to pay rent within [10] days after written notice, or fails to cure any other breach within [30] days after notice, the Landlord may end the Lease and pursue remedies allowed by law.
12. Personal guarantee
[Option: Guarantor name personally guarantees the Tenant’s payment obligations under this Lease.]
13. General terms
This Lease is governed by the laws of [state]. Notices go to the addresses above or by email to [emails]. The parties agree to sign electronically, with the same effect as handwritten signatures.
LANDLORD Signature: ______________________ Name: [full name] Title: [title] Date: [date] | TENANT Signature: ______________________ Name: [full name] By: [name and title] Date: [date] |
GUARANTOR (IF ANY) Signature: ______________________ Name: [full name] Date: [date] |