Ensuring eSignature Lawfulness for Commercial Lease Agreement in United States

How to eSign a document: e-signature lawfulness for Commercial Lease Agreement in United States

commercial lease agreement by Sophia msas Justin low myself speaking Luke McDon Megan mclen and John Mai for the term the lease agreement to tenant beginning January 1st 2020 will end December 31st 2020 we will do the best of our ability to give access to the premises to the tenant early as possible at the beginning of the term if not on time rent shall baate for the period of the delay tenant shall not make no other claim against landlord for any such delay coming to the rental first 5 years of the term the tenant shall pay $288,000 payable installments of $4,800 per month during the 60 months of lease security deposit in the amount of $2,400 and the Tenant agrees to pay the first and last month's rent and deposit of $112,000 in the use tenant shall use the premises as it is intended for as a irrigation store notwithstanding the foregoing tenant shall not use the least premises for the purposes of storing manufacturing or selling any explosives flammables or other inherently dangerous substance chemical thing or device suas and assignment tenant must consent with us to assign the lease to a corporation with which tenant May consolidate to any subsidiary of the tenant to any Corporation under common control with tenant or to a purchaser of substantially all of tenants assets the tenant shall not sublease all or any part of the lease premises or sign this lease premises or sign this lease in whole or in part without our consent such consent not to be unreasonably withheld or delayed for the repairs during the term the tenant shall make all repairs to the leas premises at their own expense repairs may include floors walls ceilings and other parts of the least premises damaged or worn through normal occupancy subject to the obligations of the parties otherwise set forth in this lease alterations and improvements tenant is authorized by landlord to remodel redecorate make additions or improvements and the tenants rights place or personal property like pictures or Furniture any property belonging to the tenant is free from landlord's claim for the removal after the leasing agreement is over tenant must remove all personal belongings from the premise damages to the property will be paid by the tenant for the property taxes prior to delinquency and Lease term landlord taxes responsibility all General real estate taxes special assessments and personal property for tenant tax responsibility it's personal property if tenants property taxes increase during the time of the lease they will pay 100% of the tax build indemnification of landlord and insurance landlord is not Li ible for if tenants negligence leads to damages for an example a fire costs losses or if tenant injuries themselves due to negligence the rent of the property tenant will still have to pay even if they cannot use the property insurance for the tenant tenant must have re-enters renters excuse me Insurance prior to moving in Insurance must be approved by the landlord Insurance must have a minimum of $1 million protection landlord is included on the insurance as an additional insurer tenant will prove its insurance and notify landlord if insurance will expire within 10 days for the utilities tenant will be responsible for all utility bills electricity water gas sewer telephone and other services on leasing premises paying utility bills on time if tenant does not pay utilities on time landlord will have will pay the amount owed and Bill tenant the desired ode tenant must pay the bill within 10 days utilities are agreed upon by both landlord and tenant if landlord feels tenant is using an excessive amount of energy landlord is allowed to interfere with concerns signs signage rules signs must be permitted by landlord must have government permission approval by adjoining businesses landlord May refuse sign if in the landlord's opinion too large deceptive unattractive inappropriate to the leasing premise damages caused by signs must be paid and repaired by tenant before moving out of premise for entry landlord's rights during regular business hours maybe enter the tenant's business space for inspections enter the tenants business space for maintenance and the Tenant responsibility allow the landlord put up standard tol or for lease signs this must be within 90 days before the lease ends and allow potential new tenants to look at the property for parking who can use the driveway the tenant landlord guest and invitees rules and regulations of the driveway are subject to change from time to time by the landlord landlord's rights designate parking areas within or close to the building Road easement and maintenance Road easement regulations may be ride of way for entering and exiting only cannot be altered in anyway and will terminate when the lease does the tenant's responsibility for it may pay a portion of the road easement for damage and destruction damage to the property not caused by tenant fire casualty structural defects tenant has the right to end the least 90 days after the damage happened lease termination notice is given to the landlord for minor damage landlord must quickly fix the damage at their own expense landlord isn't held accountable for repair day delays caused by factors beyond their control if the lease premise premises are not operable tenant is not obligated to pay rent or any other expense rents and other fees paid in advance will be applied to the Future rent or refunded if no future rent is due these rules also apply to events the tenant can't avoid that make the leas property unusable for their purposes when it comes to the theault what happen happens when there is a default must pay rent within 15 days of it being due if rent is still not paid landlord has to wait 30 days before giving notice to tenant if tenant still does not pay rent within the 30 days the lease may be terminated landlord's rights if default continues if lease premises are not surrendered landlord is allowed onto the premise they may take action to remove property Sue or receive equity and the landlord is responsible for damage at this stage for quiet possession the tenant must fulfill its duties under the terms of the agreement in return the landlord agrees to give the tenant sole quiet peaceful and uninterrupted use of the lease property for the duration of the lease condemnation and eminent domain condemnation when the government wants to take property from a private owner eminent domain a governmental method of condemnation any rent and fees between the tenant and land owner would need to be calculated up to the date of when the eminent domain takes place this is done to ensure the compensation between the both parties is done fairly if the government decides to do eminent domain on the Leasing Property subordination the subordination clause is a clause to establish order to Financial claims in real estate the landlords has first priority payment if tenant existing or Hereafter any renewals refinancing extensions and what if tenant the what tenant agrees to payment of L at request of landlord landlord acting as tenants attorney to accept this agreement in tenant's name landlord must request a statement from tenant to certify this agreement there may be modifications and dates and payments of leans will be included with security deposits security deposits primarily protect the landlord security deposits can be used for fixing up tenants defaults on rent or damage to the personal property funds can be deposited in the landlord's account without having any liability for interest balance is returned to the tenant at the end of the lease minus any deficit owed by the tenant for notice a notice primarily protect both parties involved notice via US certified mail with return receipt to a written address it is able to change location of the notice this helps both us and a tenant for Brokers a broker is an organization or agency that aids in buying and selling process for others in this particular lease the broker should not take part or help the tenant for the reason this ensures that there are no hidden fees of third party interference for both the landlord and tenant this also makes the process less complicated for both parties for the waiver a waiver can be done by a landlord or tenant a written contract that avoids a legal proceeding or gamification for a particular instant this is generally done in the buying and selling process but can be used anytime during the lease waivers can't be used to set precedence for the same offense important to both tenants and landlords in prevention of abuse of using past waivers for future waivers also speeds up the overall legal process between tenants and landlords if both parties agree to waiver a part of the real estate process more R memorandum of lease memorandum of lease a legal document that is used to show evidence of a current lease agreement between the landlord and tenant it's optional to have either party and can request some would want the me memorandum of lease to have further Safety and Security during the leasing While others would not want it due to privacy reasons which is why the memorandum of lease is stated to be an option for the headings headings do not mean anything more than categorization of the lease for an example heading names waiver or brokers in of itself does not imply anything other than what is this segment of the lease will be talking about it is important to establish Clarity and avoid miscommunication successors anyone who has been a significant or critical part of the legal process between the tenant and land landowner along with the tenant and landowner themselves will also be bounded by the legal contract critical in ensuring that everyone is bounded by the same rules and prevents parties from trying to do roundabout strategies in an attempt to bypass the lease agreement consent landlord's consent has to be given in a reasonable Manner and time frame by the Lander especially so if tenant actions need to be approved by the landlord critical part of the lease in prevention of negligence of the landowner and protects the tenant performance performance primarily protects the tenant tenants need to notify in writing of the landlord defaults after 15 days the tenant can fix the landlord's defaults 100% reimbursement for tenants who fix the defaults interest can be used to deduct rent if landlord does not reimburse the tenant on time compliance with law compliance with law primarily benefits both parties involve both landlords and tenants compliance with law it protects both parties landlord gets protections tenants get protections it's a win-win situation for everyone attorney fees attorney fees primarily benefits only the winning party in a court case they are paid by the losing party in the court case which includes the attorney fees the winning party does not have to pay anything but the winning party receives full reimbursements for all costs connected to the court case and for the attorney fees too option to purchase the option to purchase this gives the ability for tenants buyers to buy home from their current landlord for the time frame within the first 5 years of lease term notice and writing given to the landlord at least one month in advance of interest to buy the property male intent to last landlord's address provided for the final agreement final agreement primarily benefits both parties involving the landlord and tenants this is the agreement that both parties are forced to comply with this agreement basically overrides all previous agreements between both parties governing law this primarily benefits both parties involving the landlords and tenants it has to be signed by both parties which includes tenants and landlords the lease actually becomes effective as the date is written on the commercial lease agreement and this is it for our presentation thank you