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 Maryland who want to enter into a standard commercial lease agreement.
Docstoc Legal Agreements 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 Maryland who want to enter into a standard commercial lease agreement. ® DISCLAIMERS: ALL INFORMATION AND FORMS ARE PROVIDED “AS IS” WITHOUT ANY WARRANTY OF ANY KIND, EXPRESS, IMPLIED, OR OTHERWISE, INCLUDING AS TO THEIR LEGAL EFFECT AND COMPLETENESS. They are for general guidance and should be modified by you or your attorney to meet your specific needs and the laws of your state. Use at your own risk. 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All Rights Reserved 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 the “Lessor”) and ____________________________ [Instruction: Insert the name of Lessee] (hereinafter referred to as the “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 ($20,000)], payable in advance on the __________ [fourth (◊ 4th)] day of each month. If that day falls on a weekend or legal holiday, the rent is due on the next business day. Rent shall be paid by personal check, money order, or cashier’s check only, to _________________________ [Instruction: Insert the name of the Lessor] at, ________________________________________, [Instruction: Insert the address of the Lessor] or at such other place as the Lessor shall designate from time to time. © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 1 3. Late Charge/Bad Checks: If rental payments are not received by the date due, a collection charge of ________ ($___) [Instructions: Insert the amount of late charge, e.g., fifty dollars ($50)] in addition to the monthly rent will immediately become due and payable. In addition, for each check not honored by the Bank or Trust Company upon which it is drawn, a collection charge of ________ ($___) [Instructions: Insert the amount of bad checks charges, e.g., fifty dollars ($50)] in addition to the monthly rent will become immediately due and payable. 4. Security / Damage Deposit: The Lessee shall deposit with the Lessor the sum of one (1) month rent as a security deposit to secure the 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 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 Lessees 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. © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 2 f. The 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: The Lessee shall have the right without the Lessor's consent, to assign this Lease to a corporation with which the Lessee may merge or consolidate, to any subsidiary of the Lessee, to any corporation under common control with the Lessee, or to a purchaser of substantially all of the Lessee's assets. Except as set forth above, the Lessee shall not sublease all or any part of the Leased Premises, or assign this Lease in whole or in part without the Lessor's consent, such consent not to be unreasonably withheld or delayed. 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 the Lessee or any of the Lessee's agents, employees, or invitees, rent shall not be diminished or abated while such damages are under repair, and the Lessee shall be responsible for the costs of repair not covered by insurance. b. The Lessor shall maintain fire and extended coverage insurance on the building and the Leased Premises in such amounts as the Lessor shall deem appropriate. The 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. The Lessee and the 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 the Lessor, such insurance to afford minimum protection of not less than ________ ($___) [Instructions: Insert the amount of insurance, e.g., one thousand dollars ($1,000)] combined single limit coverage of bodily injury, property damage, or combination thereof. Lessor shall be listed as an additional insured on the Lessee's policy or policies of comprehensive general liability insurance, and the Lessee shall provide the Lessor with current Certificates of Insurance evidencing the Lessee's compliance with this Paragraph. The Lessee shall obtain the agreement of The Lessee's insurers to notify the Lessor that a policy is due to expire ________ (___) [Instructions: Insert the number of days, e.g., ten (10)] prior to such expiration. The 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 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 © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 3 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: The Lessor shall have the right to enter upon the Leased Premises at reasonable hours to inspect the same, provided the Lessor shall not thereby unreasonably interfere with the 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 the Lessee's purposes, then the 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 the 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 the Lessee's purposes, the Lessor shall promptly repair such damage at the cost of the Lessor. In making the repairs called for in this paragraph, the 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 the Lessor. The 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 the 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 payments are to be made, any such advance payments shall be refunded to the Lessee. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond the 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 the 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 the Lessor and the 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. © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 4 12. Possession of the Premises: The failure of the Lessee to take possession of the premises shall not relieve the Lessee of its obligation to pay rent. If the Lessor is unable to deliver possession of the premises for any reason not within the Lessor’s control, the Lessor shall not be liable for any damage caused thereby, nor will this Agreement be void or voidable, but the Lessee shall not be liable for any rent until possession is delivered. If the Lessor is unable to deliver possession within _______ [Instructions: Insert the number of days, e.g., four (◊ 4)] calendar days after the agreed commencement date, the Lessee may terminate this Agreement by giving written notice to the Lessor, and shall receive a refund of all rent and security deposits paid. 13. Hazardous Materials: The 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. 14. Successors: The provisions of this Lease shall extend to and be binding upon the Lessor and the 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 Five (5) 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 Seven (7) 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 Sixty (60) calendar days notice to the Lessee, pursuant to [STATUTE]. 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: The Lessee shall be responsible for arranging for and paying for all utility services required on the Premises. 17. Validity: © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 5 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. © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 6 18. Governing law: This Agreement shall be governed, construed, and interpreted by, through, and under the Laws of the State of Maryland. 19. Compliance with Law: The Lessee shall comply with all laws, orders, ordinances, and other public requirements now or hereafter pertaining to the Lessee's use of the Leased Premises. The 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 the Lessor to: _____________________________________ _____________________________________ _____________________________________ _____________________________________ If to the Lessee to: _____________________________________ _____________________________________ _____________________________________ _____________________________________ [Instructions: Insert the addresses to be used to receive notice] The Lessor and the 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. © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 7 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 the Lessor. This Agreement cannot be modified except in writing and must be signed by all parties. Neither the Lessor nor the Lessee has made any promises or representations, other than those set forth in this Agreement and those implied by law. The failure of the Lessee to comply with any term of this Agreement is a ground for termination of the tenancy, with appropriate notice to the Lessee and procedures as required by law. 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 © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 8 EXHIBIT A [Instructions: Insert detailed description of premises to be leased] © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 9
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