Fill and Sign the Commercial Lease Agreement for Building to Be Erected by Lessor Form

Commercial Lease AgreementPage 1 of 3 Commercial Lease Agreement for Building to be Erected by LessorAgreement made on the day of , 20 , between , a corporation organized and existing under the laws of the (Name of Lessor) state of , with its principal office located at , (Name) (Street Address) , and referred to herein as the Lessor, and (City, County, State, Zip Code) , a corporation organized and existing under the laws of the (Name of Lessee) state of , with its principal office located at , (Name) (Street Address) , referred to herein as Lessee. (City, County, State, Zip Code) Whereas, the prospective Lessor is the owner of real property (the Premises) described in Exhibit A attached hereto and made a part hereof by reference thereto, on which it intends to erect a new building for commercial purposes after the demolition of the present structure located on that property; andWhereas, prospective Lessee desires to Lease the Premises on completion of the new building; andWhereas, the parties desire to enter an Agreement defining their respective rights and duties in any subsequent lease;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. Term and Condition of Lease.A. Prospective Lessor shall Lease the Premises located at , (Street Address) , to prospective Lessee for a term of (City, County, State, Zip Code) (Number) years, such Lease, however, to be conditioned on the successful demolition of the structures presently on the Premises and on the construction of a new building on the Premises in compliance with the detailed specifications contained in Exhibit B attached to this Agreement.B. The effective date of the subsequent Lease shall be days after the (Number) building is ready for occupancy by prospective Lessee.II.Rental. Prospective Lessee shall pay a total rental of $ for the Lease term, to Commercial Lease AgreementPage 2 of 3be paid at the rate of $ per month payable on the day of each month for (Number) the succeeding month.III.Use of Premises. Prospective Lessees shall use the Premises only for the purpose of . (Description of Purpose) IV.Taxes and Utilities. A. Prospective Lessee shall pay all property taxes and assessments of any nature levied on the property to be demised by an authorized governmental agency.B. Prospective Lessee shall pay all charges incurred for utility services supplied to the Premises, including charges for water, gas, electricity, sewer, and telephone.V. Assignment and Sublease. Prospective Lessee shall have the right to either assign or sublet the demised Premises at any time during the term of any subsequent Lease without the prior consent of prospective Lessor, providing that prospective Lessee shall remain primarily liable for payment of the total rental due under the terms of that Lease.VI. Option to Renew. Prospective Lessor shall have the option to extend the term of any subsequent Lease for periods of equal duration to the term of the Lease, and any (Number) extension of the Lease shall be at a renegotiated rental.VII.Limitations on Agreement. This Agreement shall be void and of no force or effect if prospective Lessor fails to have the building constructed on the real property, or if a Lease for the completed building has not been executed by the parties to this Agreement by . (Date) VIII.Severability. The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. IX.No Waiver. The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred.X. Governing Law. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of . (Name of State) XI.Notices. Unless provided herein to the contrary, any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified Commercial Lease AgreementPage 3 of 3or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement.XII.Mandatory Arbitration. 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. XIII.Entire Agreement. This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement.XIV.Modification of Agreement. Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party.XV.Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument.XVI. Compliance with Laws. In performing under this Agreement, all applicable governmental laws, regulations, orders, and other rules of duly-constituted authority will be followed and complied with in all respects by both parties.WITNESS our signatures as of the day and date first above stated. (Name of Lessor)(Name of Lessee) By: By: (Signature of Officer) (Signature of Officer) (Printed Name & Office in Corporation) (Printed Name & Office in Corporation)Attach Exhibits