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Indiana Commercial Lease Agreement

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Indiana Commercial Lease Agreement Powered By Docstoc
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                             This Commercial Lease Agreement is used by individuals to lease the premises with Use,
                             Subletting, Damage, Alteration and Termination Clauses that will protect the best interests
                             of the landlord. It is used by either landlords or tenants to save money and secure the best
                             terms and conditions for the lease. This document is intended to allow the landlord to set
                             the price, length, security deposit, and other terms of a commercial lease. This document
                             is ideal for entities or other individuals located in Indiana who want to enter into a standard
                             commercial lease agreement.
             ®




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                            COMMERCIAL LEASE AGREEMENT

THIS COMMERCIAL LEASE AGREEMENT (hereinafter referred to as the "Agreement")
made and entered into this ____ [Month] ____ [Date], 20____ [Year], by and between
____________________________ [Instruction: Insert the name of Lessor or manager (if
applicable)] (hereinafter referred to as "Lessor") and ____________________________
[Instruction: Insert the name of Lessee] (hereinafter referred to as "Lessee").


WHEREAS, the Lessor wishes to Lease the premises (defined below) to the Lessee; and the
Lessee wishes to Lease those premises from the Lessor;


NOW, THEREFORE, in consideration for the mutual promises, covenants, and agreements
made below, the parties, intending to be legally bound, agree as follows:


1. Definitions:
   For purposes of this Agreement, the following terms will have the indicated definitions:
   a. “Agreement” This Agreement is by and between the Lessor and the Lessee.
   b. “Premises” The offices situated in the city of __________ [Insert the City], state of
       ___________ [Insert the State], described as __________________________ [Insert
       the    address     of   the   Premises],     and    having    an   area   of   approximately
       _____________________ [Insert the square footage) rentable square feet, particularly
       describe in Exhibit A.


2. Term and Rent:
   The Lessor leases the above Premises,
   Commencing on : ____ [Month] ____ [Date], 20____ [Year]
   Terminating on       : ____ [Month] ____ [Date], 20____ [Year]
   Both parties agree that this is in no way a month to month Lease. The Lessee shall pay to the
   Lessor as rent for the Premises, without demand, deduction, or rights of off-set, the following
   sums: equal monthly installments of ________ ($___) [Instruction: Insert the amount e.g.,
   twenty thousand dollars only ($20,000)], payable in advance on the __________ [fourth (◊



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   4th)] day of each month. If that day falls on a weekend or legal holiday, the rent is due on the
   next business day. Rent shall be paid by personal check, money order, or cashier’s check
   only, to _________________________ [Instruction: Insert the name of Lessor] at,
   ________________________________________, [Instruction: Insert the address of
   Lessor] or at such other place as Lessor shall designate from time to time.


3. Late Charge/Bad Checks:
   If rental payments are not received by the date due, a collection charge of ________ ($___)
   [Instructions: Insert the amount of late charge e.g. Fifty dollars only ($50)] in addition to
   the monthly rent will immediately become due and payable. In addition, for each check not
   honored by the Bank or Trust Company upon which it is drawn, a collection charge of
   ________ ($___) [Instructions: Insert the amount of bad checks charges e.g. Fifty
   dollars only ($50)] in addition to the monthly rent will become immediately due and
   payable.


4. Security / Damage Deposit :
   Lessee shall deposit with Lessor the sum of one (1) month rent as a security deposit to secure
   Lessee's faithful performance of the terms of this lease. After all the Lessees have vacated,
   leaving the premises vacant, the Lessor may use the security deposit for the cleaning of the
   premises, any unusual wear and tear to the premises or common areas, and any rent or other
   amounts owed pursuant to the lease agreement.


5. Use of Premises:
   a. Uses Permitted: The Lessee shall use and occupy the Premises for commercial use only.
       The Premises shall be for no other purpose. The Lessee represents that the Premises will
       lawfully be used for commercial purpose only and no other purpose.


   b. Uses Prohibited: The Lessee shall not do or permit anything to be done in or about the
       Premises nor bring or keep anything therein that will increase the existing rate or affect
       any fire or other insurance upon the building or any of its contents, or cause a
       cancellation of any insurance policy covering said building or any part of it or any of its



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       contents, nor shall the Lessee sell or permit to be kept used or sold in or about said
       Premises any articles or substances, inflammable or otherwise, that may be prohibited by
       a standard form policy of fire insurance.


   c. The Lessee shall not do or permit anything to be done in or about the Premises that will
       in any way obstruct or interfere with the rights of other Lessee's of the building or injure
       or annoy them or use or allow the Premises to be used for any unlawful or objectionable
       purpose.


   d. The Lessee shall not use the Premises or permit anything to be done in or about the
       Premises that will in any way conflict with any law now in force or that may hereafter be
       enacted. The Lessee shall at its cost promptly comply with all laws now in force or that
       may be in force hereafter and with the requirements of any board of fire underwriters or
       other similar body relating to the Lessee’s improvements or acts.

   e. The Lessee shall not use the Leased Premises for the purposes of storing, manufacturing
       or selling any explosives, inflammables, or other inherently dangerous substance,
       chemical, thing or device.


   f. Lessee shall comply with any and all laws, ordinances, rules, and orders of any and all
       governmental or quasi-governmental authorities affecting the cleanliness, use,
       occupancy, and preservation of the Premises.


6. Assignment and Subletting:
   Lessee shall have the right without Lessor's consent, to assign this Lease to a corporation
   with which Lessee may merge or consolidate, to any subsidiary of Lessee, to any corporation
   under common control with Lessee, or to a purchaser of substantially all of Lessee's assets.
   Except as set forth above, Lessee shall not sublease all or any part of the Leased Premises, or
   assign this Lease in whole or in part without Lessor's consent, such consent not to be
   unreasonably withheld or delayed.




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7. Insurance:
   a. If the Leased Premises or any other part of the building is damaged by fire or other
       casualty resulting from any act or negligence of Lessee or any of Lessee's agents,
       employees or invitees, rent shall not be diminished or abated while such damages are
       under repair, and Lessee shall be responsible for the costs of repair not covered by
       insurance.


   b. Lessor shall maintain fire and extended coverage insurance on the building and the
       Leased Premises in such amounts as Lessor shall deem appropriate. Lessee shall be
       responsible, at its expense, for fire and extended coverage insurance on all of its personal
       property, including removable trade fixtures, located in the Leased Premises.


   c. Lessee and Lessor shall, each at its own expense, maintain a policy or policies of
       comprehensive general liability insurance with respect to the respective activities of each
       in the building with the premiums thereon fully paid on or before due date, issued by and
       binding upon some insurance company approved by Lessor, such insurance to afford
       minimum protection of not less than ________ ($___) [Instructions: Insert the amount
       of insurance e.g. One thousand dollars only ($1,000)] combined single limit coverage
       of bodily injury, property damage or combination thereof. Lessor shall be listed as an
       additional insured on Lessee's policy or policies of comprehensive general liability
       insurance, and Lessee shall provide Lessor with current Certificates of Insurance
       evidencing Lessee's compliance with this Paragraph. Lessee shall obtain the agreement of
       Lessee's insurers to notify Lessor that a policy is due to expire ________ (___)
       [Instructions: Insert the number of days e.g. Ten (10)] prior to such expiration. Lessor
       shall not be required to maintain insurance against thefts within the Leased Premises or
       the building.


8. Alterations and Improvements:
   The Lessee shall not, without first obtaining the written consent of the Lessor, make any
   alterations, additions, or improvements, in, to or about the Premises. Any such alterations,
   additions, or improvements, including, but not limited to, wall covering, paneling and built-in



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   cabinet work, but excepting movable furniture and trade fixtures, shall become a part of the
   realty, shall belong to the Lessor and/or be surrendered with the Premises at expiration or
   termination of the Lease. If the Lessor consents to any such alterations, additions, or
   improvements by the Lessee, they shall be made by the Lessee at the Lessee’s cost, and any
   contractor or person selected by the Lessee to perform the work shall first be approved of, in
   writing, by the Lessor. Upon expiration, or sooner termination of the term, the Lessee shall,
   upon written demand by the Lessor, promptly remove any alterations, additions, or
   improvements made by the Lessee and designated by the Lessor to be removed. Such
   removal and repair of any damage to the Premises caused by such removal shall be at the
   Lessee's cost.


9. Entry:
   Lessor shall have the right to enter upon the Leased Premises at reasonable hours to inspect
   the same, provided Lessor shall not thereby unreasonably interfere with Lessee's business on
   the Leased Premises.


10. Damage and Destruction:
   Subject to Section 7(a), if the Leased Premises or any part thereof or any appurtenance
   thereto is so damaged by fire, casualty, or structural defects that the same cannot be used for
   Lessee's purposes, then Lessee shall have the right within ninety ___________ (___)
   [Instructions: Insert the number of days e.g. ninety (◊ 90)] days following damage to elect
   by notice to Lessor to terminate this Lease as of the date of such damage. In the event of
   minor damage to any part of the Leased Premises, and if such damage does not render the
   Leased Premises unusable for Lessee's purposes, Lessor shall promptly repair such damage at
   the cost of the Lessor. In making the repairs called for in this paragraph, Lessor shall not be
   liable for any delays resulting from strikes, governmental restrictions, inability to obtain
   necessary materials or labor, or other matters which are beyond the reasonable control of
   Lessor. Lessee shall not be relieved from paying rent and other charges during any portion of
   the Lease term that the Leased Premises are inoperable or unfit for occupancy, or use, in
   whole or in part, for Lessee's purposes. Rentals and other charges paid in advance for any
   such periods shall be credited on the next ensuing payments, if any, but if no further



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   payments are to be made, any such advance payments shall be refunded to Lessee. The
   provisions of this paragraph extend not only to the matters aforesaid, but also to any
   occurrence which is beyond Lessee's reasonable control and which renders the Leased
   Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or
   in part, for Lessee's purposes.


11. Condemnation:
   If any legally constituted authority condemns the building or such part thereof which shall
   make the Leased Premises unsuitable for leasing, this Lease shall cease when the public
   authority takes possession, and Lessor and Lessee shall account for rental as of that date.
   Such termination shall be without prejudice to the rights of either party to recover
   compensation from the condemning authority for any loss or damage caused by the
   condemnation. Neither party shall have any rights in or to any award made to the other by the
   condemning authority.


12. Possession of the Premises:
   The failure of Lessee to take possession of the premises shall not relieve Lessee of its
   obligation to pay rent. If Lessor is unable to deliver possession of the premises for any reason
   not within Lessor’s control, Lessor shall not be liable for any damage caused thereby, nor
   will this Agreement be void or voidable, but Lessee shall not be liable for any rent until
   possession is delivered. If Lessor is unable to deliver possession within _______
   [Instructions: Insert the number of days e.g. four (◊ 4)] calendar days after the agreed
   commencement date, Lessee may terminate this Agreement by giving written notice to
   Lessor, and shall receive a refund of all rent and security deposits paid.


13. Hazardous Materials:
   Lessee shall not keep on the Premises any item of a dangerous, inflammable, or explosive
   character that might unreasonably increase the danger of fire or explosion on the Premises or
   that might be considered hazardous or extra hazardous by any responsible insurance
   company.




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14. Successors:
    The provisions of this Lease shall extend to and be binding upon Lessor and Lessee and their
    respective legal representatives, successors and, assigns.


15. Remedies Upon Default:
    If the Lessee defaults in the payment of rent, or any additional rent, or defaults in the
    performance of any of the other covenants or conditions of this Agreement, the Lessor may
    give the Lessee notice of such default, and if the Lessee does not cure any such default within
    Ten (10) business days after the giving of such notice (or if such other default is of such a
    nature that it cannot be completely cured within such period, if the Lessee does not
    commence such curing within Ten (10) business days and thereafter proceed with reasonable
    diligence and in good faith to cure such default), then the Lessor may terminate this Lease by
    giving not less than Thirty (30) calendar days notice to the Lessee, pursuant to Section 6,
    Chapter 1, Article 31, Title 32 of 2010 Indiana Code. On the date specified in such notice the
    term of this Lease shall terminate, and the Lessee shall then quit and surrender the Premises
    to the Lessor, but the Lessee shall remain liable as hereinafter provided. If this Lease shall
    have been so terminated by the Lessor, the Lessor may at any time thereafter resume
    possession of the Premises by any lawful means and remove the Lessee or other occupants
    and their effects. No failure to enforce any term shall be deemed a waiver.


16. Utilities:
    Lessee shall be responsible for arranging for and paying for all utility services required on
    the Premises.


17. Validity:
    If any provision of this Agreement is held to be invalid, such invalidity shall not affect the
    validity or enforceability of any other provision of this Agreement.




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18. Governing law:
   This Agreement shall be governed, construed and interpreted by, through, and under the
   Laws of the State of Indiana.


19. Compliance with Law:
   Lessee shall comply with all laws, orders, ordinances, and other public requirements now or
   hereafter pertaining to Lessee's use of the Leased Premises. Lessor shall comply with all
   laws, orders, ordinances, and other public requirements now or hereafter affecting the Leased
   Premises.


20. Modification:
   The parties hereby agree that this document contains the entire agreement between the parties
   and this Agreement shall not be modified, changed, altered, or amended in any way except
   through a written amendment signed by all of the parties hereto.




21. Notice:
   Any notice required or permitted under this Lease or under state law shall be deemed
   sufficiently given or served if sent by United States certified mail, return receipt requested,
   addressed as follows:
   If to Lessor to:                            _____________________________________
                                               _____________________________________
                                               _____________________________________
                                               _____________________________________


     If to Lessee to:                          _____________________________________
                                               _____________________________________
                                               _____________________________________
                                               _____________________________________


   [Instructions: Insert the addresses to be used to receive notice]



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Lessor and Lessee shall each have the right from time to time to change the place notice is to be
given under this paragraph by written notice thereof to the other party.


22. Additional Provisions:
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   [Instructions: Insert any other additional clauses the parties want to have]


23. Entire Agreement:
   This document constitutes the entire Agreement between the Lessee and Lessor. This
   Agreement cannot be modified except in writing and must be signed by all parties. Neither
   Lessor nor Lessee has made any promises or representations, other than those set forth in this
   Agreement and those implied by law. The failure of Lessee to comply with any term of this
   Agreement is a ground for termination of the tenancy, with appropriate notice to Lessee and
   procedures as required by law.




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IN WITNESS WHEREOF, the said parties hereto have set their hands and seals as of the date
first here above written




______________________________________________
[Lessor] Signature Block




______________________________________________
[Lessee] Signature Block




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                                            EXHIBIT A
                [Instructions: Insert detailed description of premises to be leased]




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Description: This Commercial Lease Agreement is used by individuals to lease the premises with Use, Subletting, Damage, Alteration and Termination Clauses that will protect the best interests of the landlord. It is used by either landlords or tenants to save money and secure the best terms and conditions for the lease. This document is intended to allow the landlord to set the price, length, security deposit, and other terms of a commercial lease. This document is ideal for entities or other individuals located in Indiana who want to enter into a standard commercial lease agreement.
This document is also part of a package Essential Indiana Legal Documents 145 Documents Included