Fill and Sign the Commercial Building Lease Agreement Form

Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs Agreement made on the _______ day of ________________, 20______, between ___________________________ (Name of Lessor) of _________________________________ __________________________________ (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 owner of the premises located at _________________________ _________________________________________ (street address, city, county, state, zip code) hereinafter referred to as the Premises and which are further described below; and Whereas, Premises are subject to a lease dated ________________ (date of lease) , made between the Lessor and __________________________ (name of current lessee) , by which the Premises were leased for a term of ________ (number) years, which lease will expire on ______________ (date of expiration of current lease) ; and Whereas, Lessee desires to lease the Premises after the expiration of the term of the current lease; Whereas, Lessor is willing to lease the Premises to Lessee on the condition that the Lessee making certain alterations and repairs; Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: I. Agreement to Lease Lessor agrees to lease to Lessee, and Lessee agrees to lease from Lessor, the Premises which include the land and building described in Exhibit A attached hereto, together with all easements, rights, improvements, and appurtenances . II. Alterations and Repairs Lessee shall, within _____ (number) days after the date of this Agreement, make the alterations and repairs specified in the Schedule attached hereto as Exhibit B . Lessee shall effect such repairs and alterations to the satisfaction of __________________________ (name of architect) , Lessor's architect, and pay his/her fees not to exceed $____________. Lessee shall be entitled to enter upon the Premises on the day following the expiration of the existing term, but the granting of this lease is conditional upon Lessee’s completing the alterations and repairs on or before __________________ (date) . If said alterations and repairs shall not be made on or before ___________________ (date) , Lessor shall be entitled to reenter the Premises, and all the interest of the Lessee in the Premises shall then terminate, and Lessor may recover possession of the Premises by legal process if necessary. III. Contents of Lease Within _______ (number) days from the date of the acceptance of this Agreement, Lessor shall tender to the Lessee a lease of the Premises in the form and with the terms as that certain draft of lease attached hereto as Exhibit C . Within _______ (number) days from the receipt of such draft of lease, Lessee shall either execute the same as described in Section IV below. IV. Execution of Lease The Lease shall be executed by the Lessor and the Lessee when so required by either party after the completion of the alterations and repairs specified in Exhibit B . V. Mandatory Arbitration Notwithstanding the foregoing, and anything herein to the contrary notwithstanding, any dispute under this agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. WITNESS our signatures as of the day and date first above stated. _______________________ , INC. ________________________ By_____________________________ (Name of Lessor) _______________________________ (Name and Office in Corporation) Attach Exhibits