Fill and Sign the Agreement to Lease Commercial Property with Option to Purchase at End of Lease Term Form

Agreement to Lease Commercial Property with Option to Purchase at End of Lease Term Lease Agreement made on the _____ day of ____________, 20_____, between _____________________________, Inc., a corporation organized and existing under the laws of the State of ____________, with its principal office located at ___________________________ _________________________________ (street address, city, county, state, zip code), referred to herein as Lessor, and ___________________________________, Inc., a corporation organized and existing under the laws of the State of ________________, with its principal office located at _______________________________________________________________ (street address, city, county, state, zip code), referred to herein as Lessee. Whereas, Lessor is the sole owner of certain land, a building and other facilities located at __________________________________________________________________________ (street address, city, county, state, zip code) and more fully described below, which it desires to lease to Lessee; and Whereas, Lessee is a corporation that desires and is empowered to lease said property; and Whereas, Lessee intends to purchase said property from Lessor at the end of the term of this Lease Agreement for a nominal sum; and Whereas, Lessor has agreed to sale said property to Lessee at the end of the term of this Lease Agreement for a nominal sum; and Whereas, the parties desire to enter into a lease agreement to define their respective rights, duties, and liabilities concerning such a lease; 1. Demise and Description of Premises Lessor hereby leases to Lessee property located at _______________________________ _______________________ (street address, city, county, state, zip code), comprising land and a building, together with the improvements on such property, and more particularly described in Exhibit A (legal description), which is attached to and made a part of this Lease Agreement. Said leased premises, including all land and improvements located on the demised premises and described in Exhibit A, are hereinafter referred to as Premises. 2. TermThe term of the Lease shall be _____ (number) years, commencing on the ____ day of ____________, 20____, and terminating on the _____ day of ____________, 20___
41. For purposes of this lease agreement, the term means January 1st for the first year, and december 1st for each year thereafter, with respect to which the principal obligation of the lessor remains the payment of the lease payments to lessee arising under the lease agreement. 3. Maintenance and repairs lessee agrees to make all repairs on the leased premises and to make no suspicious repairs under any circumstances. 4. Rent and rates the principal rent shall be (dollar rate) per month and the annual lease rate shall be (dollar rate) per annum. For purposes of this lease agreement, the annual lease rate will be deemed to be (dollar rate) based on the maximum annual rental allowed by statute or by the lease, whichever is higher. 5. Option to purchase lessee hereby owns all the property under lease and, subject thereto, is entitled to receive one-time payment of (dollar rate) per annum of the principal sum of money due under the lease beginning on the day of commencement of the lease agreement. 6. Lease renewal is subject to approval by lessee and, if approved, is subject to payment of additional rent for the first year and the sum of two additional annual lease payments of (dollar rate) per annum. 7. Breach of lease obligation lessor shall be liable to lessee for damages to or destruction of leased premises or any facilities on the leased premises which results from the breaching of any lease provisions. 8. Termination of tenancy lease of premises terminates upon, and lessee is obligated to vacate upon, the cessation or threat of the following events: failure to make certain repairs or maintenance on the leased premises; the cessation or threat of an act of terrorism on the premises; the cessation or threat of interruption or termination of the telephone and cable television services for which a security deposit was required by the lessor, or failure to make provision for the removal or replacement of any such equipment; the cessation or threat of acts of terrorism or acts of violence on the premises; the cessation or threat of loss of business from the premises or any interruption of such business activity in the premises, including loss or damage to business equipment, or destruction of commercial property on the premises; the loss or threat of loss or damage to any person or entity in the premises, or the threat of interruption of the person or entity's business activities in the premises, or loss of any person's business assets as a result of the cessation or threat of such events;