Retail Lease Agreement

VIEWS: 2,405 PAGES: 11

This document is an agreement between a landlord and a tenant to lease certain commercial premises to be used as a retail store. This document can be fully customized to ensure that the understandings of the parties are properly set forth. Customizable clauses specify the location of the property, the term of the agreement, the rent amount, late charges, and much more. This document should be used by small businesses or other entities that want to lease premises for a retail store. Additionally, this document can be used by landlords, property owners, or property managers that want to lease commercial property.

More Info
									This document is an agreement between a landlord and a tenant to lease certain
commercial premises to be used as a retail store. This document can be fully
customized to ensure that the understandings of the parties are properly set forth.
Customizable clauses specify the location of the property, the term of the agreement,
the rent amount, late charges, and much more. This document should be used by small
businesses or other entities that want to lease premises for a retail store. Additionally,
this document can be used by landlords, property owners, or property managers that
want to lease commercial property.
                      RETAIL LEASE AGREEMENT
THIS INDENTURE (hereinafter called the “Agreement”) made in duplicate as of the ______
day of _____, 20__. [Instruction: Insert lease date.]

B E T W E E N:

___________________________,
[Instruction: Insert Landlord name.]

(hereinafter called the "Landlord"),

       OF THE FIRST PART,

       - and -

___________________________,
[Instruction: Insert Tenant name.]

(hereinafter called the "Tenant"),

       OF THE SECOND PART.


WITNESS that in consideration of the rents, covenants and agreements hereinafter reserved and
contained on the part of the Tenant, his/her heirs, executors, administrators, successors and
assigns to be paid, observed and performed, the Landlord hereby leases unto the Tenant, his/her
heirs, executors, administrators, successors and assigns for use as commercial premises as
permitted in this Agreement and for no other purpose, all those certain premises known
municipally as _____________________ [Instruction: Insert property address and
description of portion being leased.] (hereinafter called the "Premises") upon the following
terms and conditions:

1. To have and to hold the Premises for and during the term of __________ (____)
   months/years [Instruction: Insert written lease term followed by numerical
   representation in parentheses, choose whether such term is a period of months or
   years.] beginning on the ___day of____, 20__ [Instruction: Insert lease start date.] and
   ending on the _____ day of _____________, 20____, [Instruction: Insert lease end date.]
   (hereinafter called the "Term").

2. Under the terms of this Agreement, "Rent" shall consist of all monetary obligations owed to
   Landlord by Tenant in accordance with this Agreement. However, the Security Deposit shall
   not be considered Rent. Tenant shall pay to Landlord _______ ($_______) United States
   Dollars [Instruction: Insert written amount of rent followed by the numerical amount in
   parentheses.] per month as Rent for the Term of the Agreement. Acceptable forms of
   payment of Rent to Landlord shall be by Tenant’s good check, subject to collection or
    official check issued by any bank, savings bank, trust company or savings and loan
    association, unendorsed and payable to Landlord at Landlord’s address as set forth in this
    Lease. Landlord will apply all funds received from Tenant first to any non-rent obligations
    of Tenant including late charges, returned check charges, charge-backs for repairs, brokerage
    fees, and periodic utilities, then to Rent, regardless of any notations on a check.


3. The Tenant covenants and agrees to deliver Rent to the Landlord by the date due. Due date
   for Rent payment shall be the 1st day of each calendar month and shall be considered
   advance payment for that month. If not remitted on the 1st, Rent shall be considered overdue
   and delinquent on the 2nd day of each calendar month. In the event that the Commencement
   Date is not the 1st of the calendar month, Rent payment remitted on the Commencement
   Date shall be prorated based on a 30-day period. If rental payments are not received by the
   date due, a late charge of ________ ($_____) [Instruction: Insert written dollar amount of
   late charge to be charged followed by numerical amount in parentheses.] United States
   Dollars in addition to the monthly rent will immediately become due and payable. In the
   event that any payment by Tenant is returned for insufficient funds ("NSF") or if Tenant
   stops payment, Tenant will pay $__ [Instruction and Comment: Insert numerical dollar
   amount to be charged in event of returned check; Amount should be reasonable and
   Landlord may want to have such dollar amount be reasonably related to the amount to
   be charged by Landlord’s bank for such checks.] to Landlord for each such check, plus
   late fees as described herein until Landlord has received payment in full. Further, Landlord
   may require in writing that Tenant pay Rent in cash for 3 months, and that all future Rent
   payments shall be remitted by Tenant to Landlord by money order or cashier's check.

4. The Landlord and the Tenant mutually covenant and agree that whenever in this lease notice
   is required to be given by either the Landlord or the Tenant to the other, the same shall be in
   writing and, except as otherwise provided, be deemed to be sufficiently given if mailed
   postage prepaid and registered mail to the Tenant at the Premises and notice to the Landlord
   shall be] addressed to ______________________. [Instruction: Insert Landlord’s address
   for notice.[ Notice so given shall be deemed to have been received by the addressee on the
   fourth postal delivery day following the date on which it is so mailed.

5. In the event Landlord cannot deliver possession of the Premises to Tenant upon the
   commencement of the Term, through no fault of Landlord or its agents, then Landlord or its
   agents shall have no liability, but the rental herein provided shall abate until possession is
   given. Landlord or its agents shall have thirty (30) days in which to give possession, and if
   possession is tendered within such time, Tenant agrees to accept the demised Premises and
   pay the rental herein provided from that date. In the event possession cannot be delivered
   within such time, through no fault of Landlord or its agents, then this Agreement and all
   rights hereunder shall terminate.

6. There shall be no parking provided. [Option: This may be customized to suit the
   particular parking situation of the premises to be leased.]

7. The Tenant covenants and agrees to pay rent, maintain the Premises in an ordinary state of
   cleanliness, and repair any damage caused to the Premises by his/her willful or negligent


© Docstoc®, Inc. 2011 – All Rights Reserved
    conduct or that of persons who are permitted on the Premises by him. The Tenant further
    covenants to leave the Premises in an ordinary state of cleanliness upon termination of this
    Lease in the same condition as now exists, reasonable wear and tear excepted.


8. Tenant shall pay all charges for water, sewer, gas, electricity, telephone and other services
   and utilities used by Tenant on the Premises during the Lease term unless otherwise
   expressly agreed in writing by Landlord. In the event that any utility or service provided to
   the Premises is not separately metered, Landlord shall pay the amount due and separately
   invoice Tenant for Tenant's pro rata share of the charges.

    Tenant shall pay such all such utility charges prior to the due date. Tenant acknowledges that
    the Premises are designed to provide standard office use electrical facilities and standard
    office lighting. Tenant shall not use any equipment or devices that utilizes excessive
    electrical energy or which may, in Landlord's reasonable opinion, over load the wiring or
    interfere with electrical services to other tenants.

    The Tenant covenants and agrees that he/she shall promptly notify the Landlord of any
    repairs required to be made by the Landlord and, subject to applicable law, the Landlord shall
    be permitted to enter the Premises for the purposes of viewing and making any such
    necessary repairs. The Landlord shall be permitted a reasonable time within which to make
    any such repairs that are necessary. [Optional Language, very common in commercial
    leases: During the Lease term, Tenant shall make, at Tenant's expense, all necessary
    repairs to the Premises. Repairs shall include such items as routine repairs of floors,
    walls, ceilings, and other parts of the Premises damaged or worn through normal
    occupancy, except for major mechanical systems or the roof, subject to the obligations
    of the parties otherwise set forth in this Lease. Tenant will comply with the rules of the
    Building adopted and altered by Landlord from time to time and will cause all of its
    agents, employees, invitees and visitors to do so; all changes to such rules will be sent by
    Landlord to Tenant in writing.]

9. Tenant shall have the right without Landlord's consent, to assign this Lease to a business with
   which Tenant may merge or consolidate, to any subsidiary of Tenant, to any corporation
   under common control with Tenant, or to a purchaser of substantially all of Tenant's assets.

    Except as set forth above, Tenant shall not sublease all or any part of the Premises, or assign
    this Lease in whole or in part without Landlord's consent, such consent not to be
    unreasonably withheld or delayed. Consent by Landlord to one such assignment, sub-letting
    or license shall not be deemed to be a consent to any subsequent assignment, sub-letting or
    license. An assignment, sub-letting or license without the prior written consent of Landlord
    or an assignment or sub-letting by operation of law shall be absolutely null and void and
    shall, at Landlord's option, terminate this Agreement.

10. Tenant, upon payment of all of the sums referred to herein as being payable by Tenant and
    Tenant's performance of all Tenant's agreements contained herein and Tenant's observance of
    all rules and regulations, shall and may peacefully and quietly have, hold and enjoy said
    Premises for the term hereof.


© Docstoc®, Inc. 2011 – All Rights Reserved
11. The Premises shall be used for first-class business purposes. [Option: Parties to lease may
    want to more fully expand this language regarding what types of businesses may and
    may not be permitted. Further, if business is located in a non-stand alone building,
    parties may wish to review any applicable building rules and/or standards and include
    same here.] At no time shall Tenant use the Premises for the purposes of storing,
    manufacturing or selling any explosives, flammables or other inherently dangerous
    substance, chemical, thing or device.

12. The Tenant covenants and agrees that, in case the Premises shall be abandoned or vacated by
    the Tenant, the Landlord, in addition to all other statutory rights and all other rights hereby
    reserved, Landlord shall have the right to enter the Premises as the agent of the Tenant, either
    by force or otherwise, without being liable for any prosecution therefor, and to re-let the
    Premises as agent of the Tenant and to receive the rent therefor; PROVIDED that, if the rent
    hereunder is overdue and the Premises are vacant, it shall be presumed that the Tenants have
    vacated or abandoned the Premises and the Landlord shall be entitled to take immediate
    possession thereof. Nothing in this Lease contained and no entry made by the Landlord
    hereunder shall in any way release the Tenant for payment of the rent hereby reserved during
    the Term hereof beyond such sum as may be realized by the Landlord by the re-letting
    hereinbefore allowed.

13. Landlord shall not be liable for any damage or injury of or to the Tenant, guests, invitees,
    agents or employees or to any person entering the Premises or the building of which the
    Premises are a part or to goods or equipment, or in the structure or equipment of the structure
    of which the Premises are a part, and Tenant hereby agrees to indemnify, defend and hold
    Landlord harmless from any and all claims or assertions of every kind and nature

14. The Tenant further covenants and agrees to give the Landlord prompt written notice of any
    accident or other defect in the water pipes or heating apparatus, telephone or electric wiring
    or lighting or to any other part of the Premises of which the Tenant is aware or ought to have
    been aware of by reason of his/her use and occupation of the Premises.

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

    Landlord shall maintain fire and extended coverage insurance on the Building and the
    Premises in such amount as Landlord shall deem appropriate. Tenant 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 Premises.

    Tenant and Landlord shall, each at its own expense, maintain a policy or policies of
    comprehensive general liability insurance with respect to the particular activities of each in
    the Building with the premiums thereon fully paid on or before due date. Such insurance
    policy shall be issued by and binding upon an insurance company approved by Landlord, and



© Docstoc®, Inc. 2011 – All Rights Reserved
    shall afford minimum protection of not less than $1,000,000 combined single limit coverage
    of bodily injury, property damage or combination thereof. Tenant shall provide Landlord
    with current Certificates of Insurance evidencing Tenant's compliance with this Paragraph.


16. In the event the Premises are destroyed or rendered wholly uninhabitable by fire, storm,
    earthquake, or other casualty not caused by the negligence of Tenant, this Agreement shall
    terminate from such time except for the purpose of enforcing rights that may have then
    accrued hereunder. The rental provided for herein shall then be accounted for by and
    between Landlord and Tenant up to the time of such injury or destruction of the Premises,
    Tenant paying rentals up to such date and Landlord refunding rentals collected beyond such
    date. Should a portion of the Premises thereby be rendered uninhabitable, the Landlord shall
    have the option of either repairing such injured or damaged portion or terminating this Lease.
    In the event that Landlord exercises its right to repair such uninhabitable portion, the rental
    shall abate in the proportion that the injured parts bears to the whole Premises, and such part
    so injured shall be restored by Landlord as speedily as practicable, after which the full rent
    shall recommence and the Agreement continue according to its terms.

17. The Tenant covenants and agrees that he/she shall be liable for any damage done by reason
    of water left running from the taps in the Premises or from gas permitted to escape therein.
    The Tenant further covenants and agrees that the water closets and other water apparatus
    shall not be used for any purpose other than those for which they were constructed and no
    sweepings, garbage, rubbish, ashes or other substances shall be thrown therein. Any damage
    resulting to them from misuse or from unusual or unreasonable use shall be borne by the
    Tenant. The Tenant further covenants and agrees that he/she shall be liable for any misuse of
    the heating, plumbing or electrical systems situated in or on the Premises.

18. During the Term, Tenant shall make, at Tenant's expense, all necessary repairs to the
    Premises. Repairs shall include such items as routine repairs of floors, walls, ceilings, and
    other parts of the Premises damaged or worn through normal occupancy, except for major
    mechanical systems or the roof, subject to the obligations of the parties otherwise set forth in
    this Lease. Tenant, at Tenant's expense, shall have the right, upon obtaining Landlord's
    consent, to remodel, redecorate, and make additions, improvements and replacements of and
    to all or any part of the Premises from time to time as Tenant may deem desirable, provided
    the same are made in a workmanlike manner and utilizing good quality materials. Tenant
    shall have the right to place and install personal property, trade fixtures, equipment and other
    temporary installations in and upon the Premises, and fasten the same to the premises. All
    personal property, equipment, machinery, trade fixtures and temporary installations, whether
    acquired by Tenant at the commencement of the Lease term or placed or installed on the
    Premises by Tenant thereafter, shall remain Tenant's property free and clear of any claim by
    Landlord. Tenant shall have the right to remove the same at any time during the term of this
    Lease provided that Tenant shall repair, at Tenant's expense, all damage to the Premises
    caused by such removal.

19. The Tenant covenants and agrees that he/she will not, without the prior written consent of the
    Landlord, which consent may be arbitrarily withheld, erect or cause to be erected on the



© Docstoc®, Inc. 2011 – All Rights Reserved
    Premises or any part thereof any television or radio antenna or any other device or apparatus
    of similar purpose. The Tenant further covenants and agrees that, if any such television or
    radio antenna, device or apparatus is erected on the building with the consent of the
    Landlord, the Tenant will, at his/her own expense, upon the termination of this Lease or any
    renewal thereof, repair any damage done to the Premises by reason of the erection,
    maintenance or removal thereof and will indemnify and save harmless the Landlord, his/her
    servants or agents from all liability for damages to persons or property as a result of the
    erection, maintenance or removal thereof.

20. The Tenant covenants and agrees that if it is his/her intention to terminate this Lease at the
    end of the Term hereby created, notice of such intention shall be given in writing by the
    Tenant to the Landlord not later than sixty (60) days prior to the expiration of the said Term;
    PROVIDED that, if the Tenant remains in occupation of the Premises after the expiration of
    the Term hereby granted without a written agreement and no such notice has been given,
    he/she shall not be deemed to be a tenant from year to year, but shall be a monthly tenant at a
    rent equivalent to the monthly payment of rent herein provided for plus any increases
    permitted by law, payable in advance, and all the terms and conditions hereof, so far as
    applicable, shall apply to such monthly tenancy.

21. Provided Landlord shall not unreasonably interfere with Tenant’s permitted business on the
    Premises, Landlord and Landlord's agents shall have the right at all reasonable times during
    the term of this Agreement and any renewal thereof to enter the Premises for the purpose of
    inspecting the Premises and all buildings and improvements thereon, and for the purposes of
    making any repairs, additions or alterations as may be deemed appropriate by Landlord for
    the preservation of the Premises or the building, show the Premises to prospective tenants,
    prospective purchasers, inspectors, fire marshals, lenders, appraisers, or insurance agents, to
    exercise a contractual or statutory lien or to leave written notice or to seize nonexempt
    property after a default.

    The Tenant covenants and agrees that, upon written notice of termination of this Lease being
    given, the Landlord shall have the right, at reasonable times, Landlord and its agents shall
    further have the right to exhibit the Premises and to display the usual "for rent" or "vacancy"
    signs on the Premises at any time within forty-five (45) days before the expiration of this
    Lease, otherwise, except in cases of emergency and except where the consent of the Tenant is
    given at the time of entry, the Landlord shall not exercise a right to enter the Premises unless
    it has first given notice to the Tenant at least twenty-four (24) hours before the time of entry
    which shall be specified in the notice. If at any time during the Term thereof, the Landlord
    wishes to show the Premises to prospective purchasers who wish to purchase the Premises
    and assume the position of Landlord under this Lease, the Tenant will allow the Landlord to
    show the Premises to such prospective purchasers upon twenty-four (24) hours’ notice to the
    Tenant. Landlord and its agents shall further have the right to exhibit the Premises and to
    display the usual “for sale” signs on the Premises at any time during the Term hereof. The
    right of entry shall likewise exist for the purpose of removing placards, signs, fixtures,
    alterations or additions that do not conform to this Agreement or to any restrictions, rules or
    regulations affecting the Premises. If Tenant fails to permit access pursuant to this
    Paragraph, Tenant shall be in default.



© Docstoc®, Inc. 2011 – All Rights Reserved
22. The Tenant covenants and agrees that if he/she is obliged to vacate the Premises on or before
    a certain date and the Landlord has sold or has entered into a Lease with a third party to rent
    the Premises after such date and the Tenant fails to vacate the Premises thereby causing the
    Landlord to be liable thereunder, the Tenant indemnify the Landlord for all losses suffered by
    reason of his/her failure to vacate.

23. Following Landlord's consent, Tenant shall have the right to place on the Premises, at
    locations selected by Tenant, any signs which are permitted by applicable zoning ordinances
    and private restrictions. Landlord may refuse consent to any proposed signage that is in
    Landlord's too large, deceptive, unattractive or otherwise inconsistent with or inappropriate
    to the Premises or use of any other tenant. Landlord shall assist and cooperate with Tenant in
    obtaining any necessary permission from governmental authorities or adjoining owners and
    occupants or Management Company or cooperative or condominium board, as the case may
    be, for Tenant to place or construct the foregoing signs. Tenant shall repair all damage to the
    Premises resulting from the removal of signs installed by Tenant.


24. 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.


25. Landlord shall pay, prior to delinquency, all general real estate taxes and installments of
    special assessments coming due during the Lease term on the Premises, and all personal
    property taxes with respect to Landlord's personal property, if any, on the Premises. Tenant
    shall be responsible for paying all personal property taxes with respect to Tenant's personal
    property at the Premises.

26. Tenant represents that Tenant was not shown the Premises by any real estate broker or agent
    and that Tenant has not otherwise engaged in, any activity which could form the basis for a
    claim for real estate commission, brokerage fee, finder's fee or other similar charge, in
    connection with this Lease. [Option: This paragraph may be customized to set forth a
    broker or brokers used in this transaction.]

27. This Agreement and Tenant's interest hereunder are and shall be subordinate, junior and
    inferior to any and all mortgages, liens or encumbrances now or hereafter placed on the
    Premises by Landlord, all advances made under any such mortgages, liens or encumbrances
    (including, but not limited to, future advances), the interest payable on such mortgages, liens
    or encumbrances and any and all renewals, extensions or modifications of such mortgages,
    liens or encumbrances. Tenant must promptly execute any certificate(s) that Landlord
    requests to show that this Agreement is so subject and subordinate. Tenant authorizes
    Landlord to sign these certificate(s) for Tenant.

28. Landlord must provide notice of default to the Tenant. The Tenant shall have a limited
    number of days to cure any such default: (a) for the failure to pay rent or additional rent when
    due, Tenant shall have three (3) days to cure; (b) for the issuance of a court order by which


© Docstoc®, Inc. 2011 – All Rights Reserved
    the Premises may be taken by another party, for the failure to perform any term in another
    lease between the Landlord and Tenant (e.g., a vehicle parking lease), for the failure to
    comply with any of the material provisions of this Agreement or of any present rules and
    regulations, for the failure to comply with any rules and regulations that may be hereafter
    prescribed by Landlord, or for the failure to comply with any duties imposed on Tenant by
    statute, the Tenant shall have five (5) days to cure. If the Tenant does not cure the default
    within the required time frame, Landlord may terminate this Agreement by providing the
    Tenant with a notice of termination. The notice of termination must state the date the
    tenancy will end, which may be no fewer than three (3) days after the date of the notice of
    termination. Tenant must vacate the premises on or before the termination date specified in
    the notice of termination and must return the keys on or before that date. The Tenant's
    responsibilities under this Agreement continue until the termination date. In addition, if this
    Agreement is terminated, Landlord may, at Landlord's option, declare the entire balance of
    rent payable hereunder to be immediately due and payable and may exercise any and all
    rights and remedies available to Landlord at law or in equity.

29. Should it become necessary for Landlord to employ an attorney to enforce any of the
    conditions or covenants hereof, including the collection of rentals or gaining possession of
    the Premises, Tenant agrees to pay all expenses so incurred, including a reasonable attorneys'
    fee. Tenants hereby understand and agree specifically that such attorney may be Landlord,
    and in such instance, Tenants would remain responsible for all expenses so incurred,
    including such reasonable attorneys’ fee as Landlord would normally charge in such matters.

30. This Agreement shall be governed, construed and interpreted by, through and under the Laws
    of the _____. [Instruction: Insert state.]

31. If any provision of this Agreement or the application thereof shall, for any reason and to any
    extent, be invalid or unenforceable, neither the remainder of this Agreement nor the
    application of the provision to other persons, entities or circumstances shall be affected
    thereby, but instead shall be enforced to the maximum extent permitted by law.

32. Any mention of or references to the Landlord or the Tenant contained in this Lease shall be
    deemed to extend to and include the heirs, executors, administrators, successors and assigns
    of the Landlord and of the Tenant and sub-tenants of the Tenant as the case may be, and if
    the Landlord or Tenant shall be a female or if there be more than one Landlord or Tenant, the
    pronouns used throughout shall be taken to be altered accordingly.

33. No indulgence, waiver, election or non-election by Landlord under this Agreement shall
    affect Tenant's duties and liabilities hereunder.




© Docstoc®, Inc. 2011 – All Rights Reserved
IN WITNESS WHEREOF the said parties hereto have hereunto set their hands and seals as of
the date first hereabove written.


SIGNED, SEALED AND DELIVERED                  )
 in the presence of

                         )        __________________________________
Witness:                 )        Tenant
)
                         )        __________________________________
Witness:                 )        Landlord
)


RECEIPT OF TENANCY AGREEMENT:

THE UNDERSIGNED hereby acknowledges receiving a duplicate original copy of the herein
Lease this _______ day of ____________, 20______.



                         Tenant




© Docstoc®, Inc. 2011 – All Rights Reserved

								
To top