Commercial Lease
R0saria Lombardi
COMMERCIAL LEASE
This lease is made between xxxxxxxxxxxx., a xxxxxxxxx corporation with its legal address in xxxxxxxxxxxxxxxxxxxx, herein called Lessor, and xxxxxxxxxxxxxxxxxxx., a xxxxxxxxxxx corporation with its legal address in xxxxxxxxxxxxxxxxxxxxxxx, herein called Lessee.
Lessee hereby offers to lease from Lessor the premises situated in the City of xxxxxxxxxxxxx, County of xxxxxxxxxxxxxxxx, State of xxxxx, a unit of aprox xxx sqf located in xxxxxxxxxxxxxxxxxxxxx upon the following T
ERMS and CONDITIONS.
1. Term and Rent.
Lessor demises the above premises for a term of 2 years, commencing on xxxx xxxx xxx and terminating on xxxxx xxx xxx, or sooner as provided herein at the annual rental of xxxxxxxxxxxx Dollars ($ xxxxxxxxxxxxxxxxx) payable in equal installments in advance on the first day of each month for that month's rental, during the term of this lease. All rental payments shall be made to Lessor, at the address specified above.
2. Use. Lessee shall use and occupy the premise for the purpose of commercial office. The premises shall be used for no other purpose. Lessor represents that the premises may lawfully be used for such purpose.
3. Care and Maintenance of Premises.
Lessee acknowledges that the premises are in good order and repair, unless otherwise indicated herein. Lessee shall, at his own expense and at all times, maintain the premises in good and safe condition, including plate glass, electrical wiring, plumbing and heating installations and any other system or equipment upon the premises, and shall surrender the same at termination hereof, in as good condition as received, normal wear and tear excepted. Lessee shall be responsible for all repairs required, excepting the roof, exterior walls, structural foundations.
4. Alterations.
Lessess shall not, without first obtaining the written consent of Lessor, make any alterations, additions, or improvements, in, to or about the premises.
5. Ordinances and Statutes.
Lessee shall comply with all statutes, ordinances and requirements of all municipal, state and federal authorities now in force, or which may hereafter be in force, pertaining to the premises, occasioned by or affecting the use thereof by Lessee.
6. Assignment and Subletting.
Lessee shall not assign this lease or sublet any portion of the premises without prior written consent of the Lessor, which shall not be unreasonably withheld. Any such assignment or subletting without consent shall be void and, at the option of the Lessor, may terminate this lease.
7. Utilities.
All aspplications and connections for necessary utility services on the demised premises shall be made in the name of Lessee only, and Lessee shall be solely liable for utility charges as they become due, including those for sewer, water, gas, electricity, and telephone services.
8. Entry and Inspection.
Lessee shall permit Lessor or Lessor's agents to enter upon the premises at reasonable times and upon reasonable notice, for the purposes of inspecting the same, and will permit Lessor at any time within sixty (60) days prior to the expiration of this lease, to place upon the premises any usual "To Let" or "For Lease" signs, and permit persons desiring to lease the same to inspect the premises thereafter.
9. Possession.
If Lessor is unable to deliver to deliver possession of the premises at the commencement here of, Lessor shall not be liable for any rent until possession is delivered. Lessee may terminated this lease if possession is not delivered within 10 days of the commencement of the term hereof.
10. Indemnification of Lessor.
Lessor shall not be liable for any damage or injury to Lessee, or any other person, or to any property, occuring on the demised premises or any part thereof, and Lessee agrees to hold Lessor harmless from any claim for damages, no matter how caused.
11. Eminent Domain.
If the premises or any part thereof or any estate therein, or any other part of the building materially affecting Lessee's use of the premise, shall be taken by eminent domain, this lease shall terminate on the date when title vests pursuant to such taking. The rent, and any additional rent, shall be apportioned as of the the termination date, and any rent paid for and period beyond that date shall be repaid to Lessee. Lessee shall not be entitled to any part of the award for such taking or any payment in lieu thereof, but Lessee may file a claim for any taking of fictures and improvements owned by Lessee, and for moving expenses.
12. Destuction of Premises.
In the event of a partial destruction of the premises during the term hereof, from any cause, Lessor shall forthwith repair the same, provided that such repairs can be made within sixty (60) days under existing governmental laws and regulations, but such partial destruction shall not terminate this lease, except that Lessee shall be entitled to a proportionate reduction of rent while such repairs are being made, based upon the extent to which making the repairs cannot be made within sixty (60) days, Lessor, at his option, may make the same within a reasonable time, this lease continuing in effect with the rent proportionately abated as aforesaid, and in the event that Lessor shall not elect to make such repairs which cannot be made within sixty (60) days, this lease may be terminated at the option of either party. In the event that the building in which the demised premises may be situated is destroyed to an extent of not less than one-third of the replacement cost, Lessor may elect to terminate this lease whether the demised premises be injured or not. A total destruction of the building in which the premises may be situated shall terminate this lease.
13. Lessor's Remedies on Default.
If Lessee defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereof, Lessor may give Lessee notice of such default and if Lessee does not cure any such default within 10 days, after the giving of such notice, then Lessor may terminate this lease on not less than 15days' notice to Lessee. On the date specified in such notice the term of this lease shall terminate, and Lessee shall then quit and surrender the premises to Lessor, but Lessee shall remain liable as hereinafter provided. If this lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the premises by any lawful means and remove Lessee or other occupants and their effects. No failure to enforce any term shall be deemed a waiver.
14. Security Deposit.
Lessee shall deposit with Lessor on the signing of this lease the sum of xxxxxxxxxxxxx Dollars ($ xxxxxxxxxxxxxxxxx) as security deposit for the performance of Lessee's obligations under this lease, including without limitation the surrender of possession of the premises to Lessor as herein provided. If Lessor applies any part of the deposit to cure any default of Lessee, Lessee shall on demand deposit with Lessor the amount so applied so that Lessor shall have the full deposit on hand at all times during the term of this lease.
15. Tax Increase.
In the event there is any increase during any year of the term of this lease in the City, County or State real estate taxes over and above the amount of such taxes assessed for the tax year during which the term of this lease commences, whether because of increased rate or valuation, Lessee shall pay to Lesser upon presentation of paid tax bills an amount equal to 50% of the increase in taxes upon the land and building in which the leased premises are situated. In the event that such taxes are assessed for a tax year extending beyond the term of the lease, the obligation of Lessee shall be proportionate to the portion of the lease term included in such year.
16. Attorney's Fees.
In case suit should be brought for recovery of the premises, or for any sum due hereunder, or because of any act which may arise out of the possession of the premises, by either party, the prevailing party shall be entitled to all costs incurred in connection with such action, including reasonable attorney's fee.
17. Notices.
Any notice which wither party may, or is required to give, shall be given mailing same, postage prepaid, to Lessee at the premises, or Lessor at the address shown below, or at such other places as may be designated by the parties from time to time.
18. Option to renew.
Provided that Lessee is not in default in the performance of this lease, Lessee shall have the option to renew the lease for an additional term of 12 months commencing at the expiration of the initial lease term. All of the terms and conditions of the lease shall apply during the renewal term except that the monthly rent shall be the sum of $ 1.500. The option shall be exercised by written notice given to Lessor not less than 30 days prior to the expiration of the initial lease term. If notice is not given in the manner provided herein within the time specified, this option shall expire.
19. Subordination.
This lease is and shall be subordinated to all existing and future liens and encumbrances against the property.
20. Entire Agreement.
The foregoing constitutes the entire agreement between the parties and may be modified only in a writing signed by both parties Signed this day xx of xxx, xxxx .
Lessor: xxxxxxxxxx xxxxxxxxxxxx, President
Lessee: xxxxxxxxxxxx xxxxxxxxxxxxxxx, Secretary
