Commercial Lease Agreement Template Word

COMMERCIAL LEASE AGREEMENT

This Commercial Lease Agreement (the "Agreement") is entered into as of this [Day] day of [Month], [Year] (the "Effective Date"), by and between:

Landlord: [Landlord Name/Entity Name], a [State of Incorporation] corporation, with its principal place of business located at [Landlord Address] ("Landlord"); and

Tenant: [Tenant Name/Entity Name], a [State of Incorporation] corporation, with its principal place of business located at [Tenant Address] ("Tenant").

RECITALS

WHEREAS, Landlord is the fee simple owner of the real property located at [Property Address], including the improvements thereon (the "Premises"); and

WHEREAS, Landlord desires to lease the Premises to Tenant, and Tenant desires to lease the Premises from Landlord, subject to the terms, covenants, and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:

1. OPERATIONAL DEFINITIONS

1.1 "Base Rent" shall mean the monthly sum of $[Dollar Amount], payable in advance. 1.2 "Commencement Date" shall mean [Date]. 1.3 "Lease Term" shall mean a period of [Number] years, commencing on the Commencement Date and expiring on [Expiration Date]. 1.4 "Permitted Use" shall mean [Description of Business Activity] and no other purpose without Landlord’s prior written consent. 1.5 "Security Deposit" shall mean $[Dollar Amount], to be held by Landlord as collateral for the faithful performance of this Agreement. 1.6 "Operating Expenses" shall include all costs related to the maintenance, insurance, taxes, and utilities of the Premises.

2. SUBSTANTIVE TERMS & OBLIGATIONS

2.1 Lease Grant: Landlord hereby leases to Tenant, and Tenant leases from Landlord, the Premises for the Permitted Use. 2.2 Rent Payment: Tenant shall pay Base Rent on the first day of each calendar month via [Method of Payment]. 2.3 Taxes and Utilities: Tenant shall be responsible for the payment of all utilities consumed on the Premises and shall reimburse Landlord for [Percentage]% of annual real estate taxes assessed against the Premises. 2.4 Maintenance: Tenant shall, at its sole expense, maintain the interior of the Premises in good order and repair. Landlord shall be responsible for the structural integrity of the roof, foundation, and exterior walls. 2.5 Compliance with Law: Tenant shall, at its own expense, comply with all municipal, state, and federal laws, ordinances, and regulations applicable to the Premises and Tenant’s operations.

3. DEFAULT, TERMINATION, AND REMEDIES

3.1 Event of Default: The occurrence of any of the following shall constitute a material breach: (a) Failure to pay Rent within [Number] days of the due date; (b) Failure to perform any other obligation under this Agreement remaining uncured for thirty (30) business days after written notice from Landlord. 3.2 Remedies: Upon an Event of Default, Landlord may, at its option: (a) Terminate this Agreement upon written notice; (b) Re-enter the Premises and remove all persons and property; (c) Recover all damages incurred, including the present value of future rent. 3.3 Cumulative Remedies: All rights and remedies of Landlord are cumulative and not exclusive of any other rights or remedies provided by law.

4. BOILERPLATE LEGAL PROVISIONS

4.1 Severability: If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable. 4.2 Entire Agreement: This Agreement constitutes the entire agreement between the parties and supersedes all prior discussions, agreements, or understandings. 4.3 Force Majeure: Neither party shall be liable for failure to perform due to acts of God, war, riot, embargoes, or other causes beyond the reasonable control of the affected party, provided that such party gives prompt notice thereof. 4.4 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of [Jurisdiction]. 4.5 Dispute Resolution: Any controversy arising out of this Agreement shall be settled by binding arbitration conducted in [City, State] in accordance with the rules of the American Arbitration Association.

5. FORMAL EXECUTION BLOCK

IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date.

LANDLORD: [Entity Name]

By: ___________________________ Name: [Signatory Name] Title: [Title] Date: _________________________

TENANT: [Entity Name]

By: ___________________________ Name: [Signatory Name] Title: [Title] Date: _________________________