Nc Commercial Lease Agreement Template

NC COMMERCIAL LEASE AGREEMENT TEMPLATE

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

Landlord: [Landlord Name], a [State of Organization] [Entity Type], with a principal place of business located at [Address] ("Landlord"); and

Tenant: [Tenant Name], a [State of Organization] [Entity Type], with a principal place of business located at [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 and conditions set forth herein.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. OPERATIONAL DEFINITIONS

1.1 "Base Rent" shall mean the sum of $[Dollar Amount] per month, payable in advance on the first day of each calendar month. 1.2 "Common Areas" shall mean all areas and facilities outside the Premises and within the exterior boundary line of the project that are provided and designated by Landlord for the general non-exclusive use of Landlord, Tenant, and other tenants. 1.3 "Lease Term" shall mean the period commencing on [Start Date] and expiring on [End Date], unless terminated earlier pursuant to the provisions of this Agreement. 1.4 "Operating Expenses" shall mean all costs and expenses incurred by Landlord for the operation, maintenance, and repair of the Building and the common areas. 1.5 "Permitted Use" shall mean [Specific Business Activity] and no other use without the prior written consent of Landlord.

2. SUBSTANTIVE TERMS & OBLIGATIONS

2.1 Lease of Premises: Landlord hereby leases to Tenant, and Tenant leases from Landlord, the Premises. 2.2 Rent Payment: Tenant shall pay Base Rent without deduction, set-off, or demand. Payments shall be made via [Payment Method] to the address specified by Landlord. 2.3 Security Deposit: Upon execution, Tenant shall deposit $[Dollar Amount] with Landlord as security for the faithful performance of Tenant’s obligations. 2.4 Maintenance and Repairs: Tenant shall maintain the interior of the Premises in good, clean, and working order. Landlord shall be responsible for the structural integrity of the roof, exterior walls, and foundation. 2.5 Compliance with Law: Tenant shall, at its sole cost and expense, comply with all applicable laws, ordinances, and regulations of the State of North Carolina and any applicable municipal authority. 2.6 Insurance: Tenant shall maintain Commercial General Liability insurance with limits of not less than $[Dollar Amount] per occurrence, naming Landlord as an additional insured.

3. DEFAULT, TERMINATION, AND REMEDIES

3.1 Events of Default: An "Event of Default" shall occur if: (a) Tenant fails to pay any Rent when due; (b) Tenant fails to perform any other obligation hereunder and such failure continues for thirty (30) business days after written notice from Landlord; or (c) Tenant becomes insolvent or files for bankruptcy. 3.2 Remedies: Upon an Event of Default, Landlord may, at its option: (a) Terminate this Agreement upon notice; (b) Re-enter the Premises and remove all persons and property; or (c) Pursue any other remedy available at law or in equity under North Carolina law. 3.3 Cure Period: Except for non-payment of Rent (which shall be governed by the statutory requirements of N.C. Gen. Stat. Chapter 42), Tenant shall have thirty (30) business days to cure any non-monetary breach following receipt of written notice detailing the breach.

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 understandings, whether written or oral. 4.3 Force Majeure: Neither party shall be liable for any failure to perform its obligations where such failure results from any cause beyond its reasonable control, including acts of God, war, or governmental restrictions. 4.4 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of North Carolina. 4.5 Dispute Resolution: Any dispute arising out of this Agreement shall be settled by mandatory binding arbitration in [County Name], North Carolina, 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:

Signature: ___________________________ Name: [Name of Signatory] Title: [Title] Entity: [Landlord Company Name] Date: ________________

TENANT:

Signature: ___________________________ Name: [Name of Signatory] Title: [Title] Entity: [Tenant Company Name] Date: ________________