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Net Lease for Part of Building Property

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Net Lease for Part of Building Property Powered By Docstoc
					This is an agreement entered into between a landlord and a tenant for the net lease of a
part of a building. In a net lease, the tenant is obligated to pay all of the building
operating costs in addition to the monthly rent. These costs can include real estate
taxes, insurance, maintenance, repairs, and other expenses. In addition, this
agreement provides for the percentage of the building the tenant will occupy. This
document is ideal for landlords and tenants who want to enter into a net lease for a part
of a building.
                            NET LEASE FOR PART OF BUILDING


This Net Lease Agreement for Part of Building (hereinafter referred to as the “Agreement”) is
made and entered into this____________ day of ____________________, 20_____, (the
“Effective Date”)    by and between ___________________ (hereinafter referred to as the
“Landlord”), and _________________________ (hereinafter referred to as the “Tenant”).

                                               RECITALS:

Whereas the Landlord is the lawful and legitimate owner of the building located at
_______________________________________________________.

Whereas the Landlord desires to lease part of this building (“Building”) to the Tenant and the
Tenant desires to lease part of the Building from Landlord upon the terms and conditions as set
forth herein;

NOW, THEREFORE, for and in consideration of the covenants, conditions and obligations
contained herein and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, Landlord and Tenant agree as follows:


1.       PREMISES

Landlord is leasing to Tenant and Tenant is leasing from Landlord a portion of the Building,
together with improvements and fixtures thereon, which is more particularly described in the
attached Attachment A, annexed hereto and made a part hereof (the “Premises”);

For purposes of this Lease, Tenant's Percentage in the total Building is agreed to be
_____________ (_________ %) percent. (The percentage determined by dividing the rentable
area of the Premises by the total rentable area of the Building and multiplying the result by 100.)


2.       COMMON AREA AND FACILITIES

Tenant shall have the non-exclusive right, in common with such other Tenants to use the
following common area and facilities:

[Mention all common areas and facilities like parking space, common passages, elevators etc.]


3.       TERM

The Landlord hereby Leases the Premises to the Tenant for a period commencing on the
___________day of ______________________, 20_______ (the “Commencement Date”) and
this Lease shall continue for a period of Twelve (12) months, unless earlier terminated in



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accordance with the provisions of this Lease (the "Initial Term”). Tenant shall have the option to
extend this lease for an additional period of ________________ ( ) years (the “Option Terms”)
by providing written notice to Landlord 30 days prior to the expiration of the Initial Term,
specifying Tenant’s intent to renew the Lease for optional term.

The Initial Term and any exercised Option Terms shall collectively constitute the “Term.”

If at any time Tenant desires to terminate the tenancy, Tenant may do so by providing the
Landlord 30 days prior written notice of its intention to terminate. If at any time Landlord desires
to terminate the tenancy, Landlord may do so by providing the Tenant 30 days prior written
notice of its intention to terminate.


4.       UTILITIES AND SERVICES

Landlord agrees to furnish the following services/utilities:

Heat ________
Water ________
Electricity ________
Gas _____________
Sewer ___________
Disposal Waste Fee ___________
Cable TV Service________
Telephone ___________
Parking________
Other (Specify)_________

Tenant agrees to pay for all utilities and/or services supplied to the Premises and to maintain the
said utilities and services upon terms and conditions as set forth in this Agreement.


5.       BASE RENT

The Tenant agrees to pay the sum of ___________________ ($__________) dollars per month
towards base rent. The said Rent is due and payable in advance and no later than the first day of
every month (hereinafter referred to as the “Due date”). If the rent is not remitted on the first of
every month, Rent shall be considered overdue.

Tenant shall make payment of Rent to Landlord by [strike out any that don’t apply]:
personal check _________,
money order ___________,
cashier’s check _________,
other ______________________




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The Landlord reserves the right to increase the rent at the end of Initial Term and each Option
Term.

6.       ADDITIONAL RENT

During the Term of this Agreement, in addition to the base rent, Tenant shall pay additional rent
(“Additional Rent”) as follows:

(A) Utilities

Tenant shall be responsible for and shall pay promptly all charges for water, gas, electricity,
sewer, telephone, janitorial service, garbage collection and all other utilities, materials and
services furnished directly to or used by Tenant in, on or about the Premises during the Term,
together with any taxes thereon. Any utilities which are not separately metered to the Premises
shall be charged to Tenant based on Tenant's Percentage or other equitable basis as reasonably
determined by Landlord.

(B) Tenant to Pay Operating Expenses

Tenant shall pay, as Additional Rent, Tenant's Percentage of all costs and expenses as may be
paid or incurred in maintaining, operating, repairing the Building, the common area and the
common facilities (the "Operating Expenses"). The Operating Expenses may include, without
limitation, the cost of labor, materials, supplies and services used or consumed in operating,
maintaining, repairing and replacing the roof membrane, the Building Elevator, if any, and the
Outside Area, including landscaping and sprinkler systems, concrete walkways and paved
parking areas; maintaining and repairing signs and site lighting; all utilities provided to the
Outside Area; any alterations or improvements required by governmental authority to comply
with laws effective after the Commencement Date; and the cost of maintaining, repairing and
replacing exterior windows and the non-structural components of the roof of the Building; the
cost of janitorial services, if applicable; fire sprinkler testing and monitoring; and a management
fee.

(C) Real Property Taxes

Tenant shall pay to Landlord, as Additional Rent, Tenant's Percentage of the Real Property
Taxes and assessments, which may be levied or assessed by the taxing authorities against the
Premises. Assessments, taxes, fees, levies and charges may be imposed by governmental
agencies for such purposes as fire protection, street, sidewalk, road, utility construction and
maintenance, refuse removal and for other governmental services which may formerly have been
provided without charge to property owners or occupants. It is the intention of the parties that all
new and increased assessments, taxes, fees, levies and charges are to be included within the
definition of Real Property Taxes for purposes of this Lease.

(D) Taxes on Tenant Improvements and Personal Property




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Notwithstanding any other provision hereof, Tenant shall pay the full amount of any increase in
Real Property Taxes during the Term resulting from any and all Alterations, Tenant
Improvements and other improvements of any kind whatsoever placed in, on or about the
Premises for the benefit of, at the request of, or by Tenant. Tenant shall pay prior to delinquency
all taxes assessed or levied against Tenant's Personal Property in, on or about the Premises.
When possible, Tenant shall cause its Personal Property to be assessed and billed separately from
the real or personal property of Landlord.

(E) Additional Charges

Any charges due Landlord by Tenant under this Lease, including but not limited to damage to
the Premises caused by Tenant or Tenant’s employees, agents, contractors, licensees, or invitees,
legal fees, costs of default remedies, past due charges for utilities, insurance, cleaning,
maintenance and repairs, etc., or for work done on the Premises by order of Tenant.

(F) Late Fee

Any overdue Rent paid after the due date (i.e. paid after the first day of every month) will be
subject to a late payment charge of _________________ ($________) dollars. Tenant agrees to
pay a service charge of ________________ ($________) dollars for every check returned due to
insufficient funds, plus late charge if check is not made good before the actual rent due date. IF
RENT IS NOT PAID WITHIN FIVE (5) DAYS OF THE DUE DATE, LANDLORD MAY
TERMINATE THIS AGREEMENT.

Base rent and Additional Rent shall collectively constitute the “RENT.”


7.       SECURITY DEPOSIT

The Tenant agrees to pay a sum of _______________ ($_______) dollars towards Security
Deposit. This Security Deposit will be deposited without interest by Tenant and be held by
Landlord until the termination of this Lease as security for the full and faithful performance by
Tenant of all its obligations under this Agreement. Landlord can deduct from the Security
Deposit the cost of any damages or repairs caused by the Tenant to the Premises, and/or any
accrued rent or late charges owed to Landlord under the Lease.

Security Deposit cannot be used towards payment of last month’s rent. Within 21 days after
Tenant vacates the premises, Landlord shall furnish Tenant a written statement indicating any
amounts deducted from the Security Deposit and returning the balance to the Tenant.


8.       NET LEASE

Except as specifically set forth herein, this is a net lease and Landlord shall not be required to
pay any costs, charges, expenses arising from or relating to the Premises, or the use and




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occupancy thereof by Tenant. The Tenant shall pay all charges, expenses, costs, and outlays of
every nature and kind relating to the Premises.


9.       RETURN OF DEPOSIT

Return of Security Deposit is subject to the following provisions:

(A) The full term of the Tenancy has been completed.

(B) No damage or deterioration to the Premises, Building(s), or grounds is evident.

(C) All keys have been returned, including keys to any new locks installed while Tenant was in
possession.

(D) The entire Premises, appliance are clean and left free of insects, and all debris and rubbish
has been removed from the Premises; the carpets are cleaned and left odorless.

(E) Any and all unpaid charges, late charges, delinquent rents, utility charges, etc., have been
paid in full.

(F) A forwarding address has been left with the Landlord. Thirty days after termination of
occupancy, the Landlord will send the balance of the deposit to the address provided by the
Tenant, or Landlord will impose a claim on the deposit and so notify the Tenant by certified
letter. If such written claim is not sent, the Landlord relinquishes its right to make any further
claim on the deposit and must return the whole deposit to the Tenant provided Tenant has given
the Landlord a notice of its intent to vacate, abandon, and terminate this Agreement proper to the
expiration of its full term, at least 7 days in advance.


10.      USE OF PREMISES

The Tenant shall use the Premises exclusively for the following business purposes:
________________________________________________________________ and shall not use
or permit anyone to use the Premises or any part thereof for any other purpose or business or by
any persons other than the Tenant. Tenant may also use the Premises for any other purposes
related to the main use. The Premises shall not be used for any illegal purpose, or in violation of
any rules or regulations, or in any manner to create any nuisance or trespass.


11.      QUIET ENJOYMENT

As long as Tenant is not in default of any of the terms of this Agreement, Tenant will have the
right to occupy the premises peacefully and without any interference.

Tenant agrees and warrants that no use shall be made or permitted to be made of the premises, or



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any part thereof, and no acts done therein that may unreasonably disturb the quiet enjoyment of
any other Tenant in the Building of which the leased premises is/are a part. In the event that
Tenant’s conduct or that of its employees or customers is unreasonably injurious or damaging to
Landlord and/or the rights, privileges or welfare of the other occupants of the premises, Landlord
may terminate this lease at any time upon 21 days written notice.


12.      ACCEPTANCE OF PREMISES

Landlord makes no warranties of any kind, express or implied, regarding the Premises, its
condition, or its potential uses. Tenant accepts the Premises in "AS IS" condition. Tenant agrees
that Landlord need not provide any alterations or improvements before the commencement of the
Lease term. Tenant further agrees to indemnify Landlord against any loss or liability arising out
of Tenant’s use of the Premises, including those using the Premises with Tenant’s consent.


13.      CONDITION OF PREMISES

Tenant acknowledges that it has inspected the Premises. Tenant further acknowledges that the
Premises have been cleaned, and all items, fixtures, appliances and appurtenances are in
complete working order and that the Premises are in safe, fit and habitable condition.
EXCEPTIONS: ________________ [if any] ________________________________________
______________________________________________________________________________
_______________________________.


14.      POSSESSION

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.


15.      ABANDONMENT

If Tenant leaves the Premises unoccupied for 15 days while rent is due and unpaid, Landlord is
granted the right hereunder to take immediate possession in the manner provided by law, and
without becoming liable to Tenant for damages or for any payment of any kind whatever.
Landlord may, at Landlord's discretion, re-let the Premises, or any part thereof, for the whole or
any part of the then unexpired term, and may receive and collect all rent payable by virtue of
such re-letting, and, at Landlord's option and hold Tenant liable for any difference between the



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rent that would have been payable under this Agreement during the balance of the unexpired
term, if this Agreement had continued in force, and the net rent for such period realized by
Landlord by means of such re-letting. If any personal belongings of the Tenant are left on the
Premises, Landlord may remove the same and place it into storage at Tenant’s expense.


16.      ENTRY BY LANDLORD

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 improvements thereon, or the making of any repairs, additions or alterations as
may be deemed appropriate by Landlord for the preservation of the Premises. Landlord and its
agents shall further have the right to exhibit the Premises and to display the usual "for sale", "for
rent" or "vacancy" signs on the Premises at any time within forty-five (45) days before the
expiration of this Tenancy. 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. Landlord may enter the premises during
normal business hours and upon reasonable advance notice of at least 24 hours to Tenant.

Landlord may enter and inspect the premises during normal business hours and upon reasonable
advance notice of at least 24 hours to Tenant.


17.      ALTERATIONS AND IMPROVEMENTS

Tenant shall make no alterations or improvements on the Premises without the prior written
consent of Landlord. Upon expiration or termination of this Agreement, Tenant shall remove
any and all such fixtures and equipments placed on the Premises by Tenant. If Tenant fails to
remove the same, all such fixtures and equipments shall become the property of Landlord and
shall remain on the Premises. Tenant shall repair all damages caused by attaching such fixtures
and equipments to or removing them from the Premises.


18.      MAINTENANCE AND REPAIR OF THE PREMISES

 (A) At Tenant’s expense, Tenant shall perform all maintenance and repairs necessary to
maintain the Premises and the utilities in a good and operating condition. Tenant will maintain
and make all necessary repairs to: the roof, windows, doors, ceilings, floor coverings, structural
components, exterior walls, and interior walls of the premises, and the plumbing, electrical,
heating, ventilating, and air-conditioning systems.

(B) Tenant will also clean and maintain (including snow removal) the parking areas, yards,
common areas, and exterior of the premises so that the premises will be kept in a safe and
attractive condition.




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(C) Tenant shall at its own expense repair or restore any damage or injury to all or any part of the
Premises caused by Tenant or Tenant’s Agents, Employees, invitees, visitors etc. If Tenant
refuses or neglects to commence and complete the necessary repairs, Landlord may make such
repairs and Tenant shall pay to Landlord, on demand, as Additional Rent, the cost thereof.


19.      PEST CONTROLS

Tenant shall be responsible to exterminate carpenter ants, termites, and other wood-boring
insects. Tenant(s) shall be responsible for eradicating all other insects, including but not limited
to fruit flies, brown ants, and cockroaches, upon taking possession of the premises.


20.      TENANT’S OBLIGATIONS

The Tenant must:

(A) Keep the Premises in a clean and sanitary condition by removing garbage and trash as and
when they accumulate;

(B) Maintain plumbing in good working order to prevent stoppages and or leakage of plumbing,
fixtures, faucets, pipes, etc;

(C) Operate all electrical, plumbing, sanitary, heating, ventilating, a/c and other appliances in a
reasonable and safe manner;

(D) Safeguard and protect the Premises against damage, destruction, loss, removal, or theft;

(E) Keep all windows, glass, window coverings, doors, locks and hardware in good, clean order
and repair;

(F) Keep all air conditioning filters clean and free from dirt;

(G) Shall not use the Premises or suffer or permit anything to be done in the Premises which will
in any way conflict with any law, statute, zoning restriction, ordinance or governmental law,
rule, regulation or requirement of duly constituted public authorities now in force or which may
hereafter be in force relating to or affecting the condition, use or occupancy of the Premises.

Tenant warrants that it will meet the above conditions in every respect, and acknowledges that
failure to do so will be grounds for termination of this Agreement and deductions of deposits
without further recourse.


21.      LANDLORD'S RIGHT TO PERFORM TENANT'S COVENANTS




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If Tenant fails to make any payment or perform any other act on its part to be made or performed
under this Lease, Landlord may, but shall not be obligated to and without waiving or releasing
Tenant from any obligation of Tenant under this Lease, make such payment or perform such
other act to the extent Landlord may deem desirable, and in connection therewith, pay expenses
and employ counsel. All sums so paid by Landlord and all penalties, interest and costs in
connection therewith shall be due and payable by Tenant upon receipt of written demand by
Landlord, together with interest thereon at the Interest Rate from the date Tenant receives
Landlord's written demand to the date of payment by Tenant to Landlord, Plus collection costs
and attorney's fees. Landlord shall have the same rights and remedies for the nonpayment thereof
as in the case of default in the payment of Rent.


22.      DAMAGE OR CASUALTY

In the event the Premises are partially or totally destroyed by fire, storm or other casualty not
caused by the negligence of Tenant, then the damage to the Leasehold Premises shall be
promptly repaid, unless Landlord shall elect not to rebuild as hereinafter provided, and the fixed
minimum rental and other charges shall be abated in proportion to the amount of the Leasehold
Premises rendered un-tenantable. In no event shall Landlord be required to repair or replace
Tenant’s trade fixtures, furnishings or other personal property. If more than Twenty-five percent
(25%) of the leased premises is damaged or destroyed by fire or other casualty, then Landlord
may either elect that the Leasehold Premises be repaired or rebuilt or, at its sole option, terminate
this Agreement by giving written notice to Tenant of its election to so terminate.


23.      WASTE AND NUISANCE

Tenant shall not commit, cause or permit any nuisance or any waste upon the Premises. The
Tenant shall keep the Premises free of debris or anything of a dangerous, illegal, noxious,
odorous or offensive nature. Tenant shall not place a load upon any floor of the premises that
exceeds the floor load per square foot area which such floor is designed to carry. Tenant shall
not use or permit the use of any medium that might constitute a nuisance.


24.      NOISE AND DISRUPTIVE ACTIVITIES

Tenant or Tenant’s guests and invitees shall not disturb, annoy, endanger or cause inconvenience
to other Tenants of the Building, to neighbors, to the Landlord or Landlord’s agents, nor violate
any law, nor commit or permit waste or nuisance in the premises.

Further, Tenant shall not do or keep anything in or about the premises that will obstruct the
public spaces available to other residents. Lounging or unnecessary loitering on the front steps,
public balconies or the common hallways that interferes with the convenience of other residents
is prohibited.




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25.      HAZARDOUS MATERIALS

Tenant shall not keep on the Premises any item of dangerous, flammable 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.


26.      PETS

Tenant shall not keep domestic or other animals on or about the Premises without the prior
written consent of the Landlord.


27.      PARKING

Vehicles shall not be parked on the lawn at any time. Tenant is assigned a parking space. Tenant
shall not assign, sublet, or allow any other person to use this parking space. Only vehicles that
are operational may park in this space. Any non-operative vehicles which are leaking any
substance must not be parked anywhere on the premises. Any such non-operative vehicle may be
removed by Landlord at the expense of Tenant.


28.      INSURANCE

(A) Liability Insurance

Tenant shall, during the term of this Agreement, keep in full force and effect a policy of public
liability and property damage insurance with respect to the Premises, in which the limits of
public liability shall not be less than _______________ ($ __________) dollars for injury or
death per occurrence and _________________ ($ __________) dollars for property damage per
occurrence. The policy shall name Landlord, any other parties in interest designated by
Landlord, and Tenant as insured, and shall contain a clause that the insurer will not cancel or
change the insurance without first giving Landlord thirty (30) days prior written notice. The
insurance shall be with an insurance company approved by Landlord, and a copy of the paid-up
policy evidencing such insurance or a certificate of the insurer certifying the insurance of such
policy shall be delivered to Landlord prior to commencement of Tenant’s Work and upon
renewals not less than thirty (30) days prior to the expiration of such coverage.

(B) Personal Property Insurance

Tenant agrees to carry, at its sole expense, insurance against all risks of physical loss, insuring
Tenant’s fixtures, furnishings, equipment and all other items of personal property of Tenant
located on or within the Leasehold Premises, in an amount equal to not less than one hundred
percent (100%) of the actual replacement cost thereof and to furnish Landlord with a certificate
evidencing such coverage.




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29.      INDEMNIFICATION

Tenant does hereby indemnify and save harmless Landlord against all claims for damages to
persons or property caused by the negligence or willful misconduct of Tenant, its agents,
employees, invitees or subcontractors or which occur in the Premises unless such damage is
caused by the gross negligence or willful misconduct of Landlord, its agents, employees,
invitees. The indemnity set forth hereinabove shall include the obligation to pay reasonable
expenses incurred by the indemnified party, including, without limitation, reasonable, actually
incurred attorney's fees.


30.      DEFAULT

If Tenant fails to perform any of the terms of this Agreement, other than the payment of rent, or
non-compliance with the provisions of this Agreement affecting health, safety or the physical
condition of the Premises, the Landlord may deliver written notice to Tenant specifying the
breach and Tenant shall remedy the breach within fourteen (14) days. If Tenant fails to do so,
Landlord may terminate this Agreement.


31.      BANKRUPTCY

In the event of any bankruptcy or insolvency proceeding is filed against the Tenant, its heirs, or
assigns, the Landlord at its option, may immediately declare this Agreement null and void, and
take possession of the Premises. No judicial officer shall ever have any rights, title, or interest in
or to the above-described Premises by virtue of this Agreement.


32.      SURRENDER OF PREMISES

Upon the expiration of the term hereof, Tenant shall surrender the Premises in at least the same
condition as at the commencement of this Agreement, reasonable use and wear and tear thereof
and damages by the elements excepted.


33.      EMINENT DOMAIN

If the whole of the Building or Premises, or such portion thereof is condemned or taken by any
legally constituted authority for any public use or purpose, then both Landlord and Tenant may
terminate this Lease by written notice to the other and the Term hereby granted shall cease from
that time when possession thereof is taken by the condemning authorities, and Rent shall be
accounted for as between Landlord and Tenant as of that date.

If a portion of the Building or Premises is so taken, but not such amount as will make the
Premises unusable in the reasonable judgment of Tenant for the purposes herein leased, this



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Lease shall continue in full force and effect, the Rent shall be reduced pro rata in proportion to
the amount of the Premises so taken, and the Landlord shall promptly commence such repair and
restoration work and thereafter continue the same with reasonable diligence to restore all
affected portions of the Premises and Building to a quality level when this lease commenced,
taking into account the extent and nature of the condemnation.


34.      SIGNS

Tenant shall have the right to place or install reasonable signs, notices, pictures or advertising
matter upon the exterior of the Property after first having obtained Landlord’s written consent,
which shall not unreasonably be withheld or delayed. Any and all signs placed on the Property
by Tenant shall be maintained in compliance with rules and regulations governing such signs.
Tenant shall be responsible to Landlord for any damages caused by installation, use,
maintenance, or removal of said signs.


35.      LEAD-BASED PAINT

Houses built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust
can pose health hazards if not taken care of properly. Lead exposure is especially harmful to
young children and pregnant women. Before renting pre-1978 housing, Landlord must disclose
the presence of known lead-based paint and lead-based paint hazards in the Premises. Tenants
must also receive a federally approved pamphlet of lead poisoning prevention.


36.      RADON

Radon is a naturally occurring radioactive gas that when it has accumulated in a building in
sufficient quantities may present health risks to persons who are exposed to it over time. Levels
of radon gas that exceed Federal and State guidelines have been found in buildings. Additional
information regarding radon and radon testing may be obtained from your county public health
office.


37.      SMOKE DETECTORS

Smoke detectors have been installed. It’s the Tenant’s responsibility to maintain its appliance
including testing periodically and replacing batteries as recommended by the manufacturer. In
the event the detector is missing or inoperative, the Tenant has an affirmative duty to notify the
Landlord immediately.


38.      FORCE MAJEURE




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NO PARTY SHALL BE RESPONSIBLE FOR DELAYS OR FAILURE OF PERFORMANCE
RESULTING FROM ACTS OF GOD, RIOTS, ACTS OF WAR, EPIDEMICS, POWER
FAILURES, EARTHQUAKES OR OTHER DISASTERS, PROVIDING SUCH DELAY OR
FAILURE OF PERFORMANCE COULD NOT HAVE BEEN PREVENTED BY
REASONABLE PRECAUTIONS AND CANNOT REASONABLY BE CIRCUMVENTED BY
SUCH PARTY THROUGH USE OF ALTERNATE SOURCES, WORKAROUND PLANS OR
OTHER MEANS.


39.      SUBLETTING and ASSIGNMENT

Tenant agrees not to assign this Agreement, or to sub-let or to grant license for whole or any part
of the Premises without the prior written consent of the Landlord. Any 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.


40.      GOVERNING LAW

This Agreement shall be governed, construed and interpreted by, through and under the Laws of
the State of _______________.


41.      DISPUTES

If a dispute arises, the parties will try in good faith to settle it through mediation conducted by a
mediator to be mutually selected. The parties will share the costs of the mediator equally. Each
party will cooperate fully and fairly with the mediator and will attempt to reach a mutually
satisfactory compromise to the dispute. If the dispute is not resolved within 30 days after it is
referred to the mediator, it will be arbitrated by arbitrator to be mutually selected. Judgment on
the arbitration award may be entered in any court that has jurisdiction over the matter. Costs of
arbitration, including lawyers’ fees will be allocated by the arbitrator.


42.      ACKNOWLEDGMENT

The below-signed parties acknowledge that they have read and understand all of the provisions
of this Agreement. This contract extends to all heirs, executors, successors and/or assigns.


43.      NOTICES




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All notices must be in writing. A notice may be delivered to a party at the address mentioned in
the introductory paragraph or to a new address that a party designates in writing. A notice may
be delivered: in person by certified mail, or by overnight courier.


44.      VALIDITY/SEVERABILITY

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.


45.      WAIVER

Any exercise or failure to exercise, by the LANDLORD of any right shall not act as a waiver of
any other rights. The acceptance by the LANDLORD of partial payments of rent due shall not be
deemed as a waiver of the LANDLORD, nor affect any notice or legal eviction proceedings in
theretofore given or commenced under state law.


46.      MODIFICATION

This lease may be modified only by a written agreement signed by all the parties.


47.      BINDING EFFECT

The covenants, obligations and conditions herein contained shall be binding on and inure to the
benefit of the heirs, legal representatives, and assigns of the parties hereto.


48.      DESCRIPTIVE HEADINGS

The descriptive headings used herein are for convenience of reference only and they are not
intended to have any effect whatsoever in determining the rights or obligations of the Landlord
or Tenant.


49.      ENTIRE AGREEMENT

This Agreement, including any attachments incorporated by reference, constitutes the entire
agreement between the parties and supersedes any oral or written representations or agreements
that may have been made by either party. Tenant acknowledges that it has consulted with
independent legal counsel before entering into this Agreement. Tenant acknowledges that it has
read and understood this Agreement and has been furnished a duplicate original.




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DISCLOSURES              ADDENDUMS:               This     Agreement      has   the   following   Disclosure
Addendums:

Attached are

1) RADON GAS DISCLOSURE

2) LEAD-BASED PAINT DISCLOSURE and
_____________________________. [Add more if required]



ACCEPTED THIS __________ day of ____________________________, 20_____, at
_________________________



___________________________________________________
TENANT

Address:




__________________________________________________
LANDLORD
Address:




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Attachment A – Description of premises




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RADON GAS DISCLOSURE:

As required by law, LANDLORD makes the following disclosure: "RADON GAS." Radon is a
naturally occurring radioactive gas that, when it has accumulated in a building in sufficient
quantities, may present health risks to persons who are exposed to it over time. Levels of radon
that exceed federal and state guidelines have been found in buildings in Pennsylvania. Additional
information regarding radon and radon testing may be obtained from the county health
department. Any injuries, sickness, damages or losses that TENANT or any of its relatives,
employers, employees, friends, business invites, guests or anyone suffers from Radon gas shall
not be the responsibility of the LANDLORD. TENANT will hold LANDLORD harmless for any
such sickness, damages or losses that occur to any of the aforementioned persons.

Landlord hereby certifies that:
__________Landlord does not know the presence of Radon.


LEAD-BASED PAINT DISCLOSURE:

Lead Warning Statement Housing built before 1978 may contain lead-based paint. Lead from
paint, paint chips, and dust can pose health hazards if not taken care of properly. Lead exposure
is especially harmful to young children and pregnant women. Before renting pre-1978 housing,
Landlords must disclose the presence of known lead-based paint and lead-based paint hazards in
the dwelling. Tenants must also receive a federally approved pamphlet on lead poisoning
prevention.

A. Landlord initials one:

_________Landlord does not know of any lead-based paint or lead-based paint hazards (dangers)
on the Premises.


OR
_________Landlord must explain what Landlord knows about the lead-based paint and hazards,
Landlord knows that there is lead-based paint, or that there are lead-based paint hazards on the
including how Landlord learned that it is there, where it is, and the condition of painted walls,
trim and other surfaces. Landlord must give Tenant any other information Landlord has about the
lead-based paint and lead-based paint hazards.

B. Landlord initial one:

_________Landlord has no reports or records about lead-based paint or lead-based paint hazards
on the Premises.
_________Landlord has given Tenant all available records and reports about lead-based paint or
lead-based paint hazards on the Premises. List records and reports:

___________________________________________________________________


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___________________________________________________________________

C. Tenant initials all that are true:

________ Tenant has received copies of all information listed above.
________ Tenant has received the pamphlet Protect Your Family from Lead in Your Home.

D. Tenant has (check (i) or (ii) below):
(i) _____ received a 10-day opportunity (or mutually agreed upon period) to conduct a risk
assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards; or
(ii) _____ waived the opportunity to conduct a risk assessment or inspection for the presence of
lead-based paint and/or lead-based paint hazards.

E. Landlord and Tenant certify, by signing this Lease that the information given is true to the
best of their knowledge.



Comment: This is a good agreement. The Radon and Lead Paint disclosures would be for
residential use only, but this Agreement can be used for small strip malls, multiple storefront
situations, and almost any multiple commercial use.




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DOCUMENT INFO
Description: This is an agreement entered into between a landlord and a tenant for the net lease of a part of a building. In a net lease, the tenant is obligated to pay all of the building operating costs in addition to the monthly rent. These costs can include real estate taxes, insurance, maintenance, repairs, and other expenses. In addition, this agreement provides for the percentage of the building the tenant will occupy. This document is ideal for landlords and tenants who want to enter into a net lease for a part of a building.
This document is also part of a package Real Estate Business Templates 153 Documents Included