Commercial Lease Execution Template

COMMERCIAL LEASE EXECUTION TEMPLATE

This Commercial Lease Agreement (the "Lease") is entered into as of Effective Date: by and between Landlord Name: and Tenant Name: . The Landlord and Tenant are collectively referred to as the "Parties."

The leased premises (the "Premises"): containing approximately rentable square feet.

RECITALS

WHEREAS, Landlord is the owner of the Premises and has authority to lease the Premises; and

WHEREAS, Tenant desires to lease the Premises from Landlord for commercial purposes and Landlord desires to lease the Premises to Tenant upon the terms and conditions set forth herein; and

WHEREAS, the Parties desire to set forth their agreement in writing in order to establish the rights and obligations with respect to the possession, use, maintenance, and operation of the Premises.

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, Landlord and Tenant agree as follows:

1. TERM

1.1 Lease Term. The Lease shall commence on Commencement Date: and shall expire on Expiration Date: unless sooner terminated as provided in this Lease. Time is of the essence with respect to the Lease Term.

2. RENT

2.1 Base Rent. Tenant shall pay to Landlord base monthly rent in the amount of $ per month (the "Base Rent"), payable in advance on or before the day of each month.

2.2 Additional Charges. Tenant shall also pay all amounts designated in this Lease as additional rent, including without limitation Tenant's proportionate share of real estate taxes, common area maintenance, utilities, insurance premiums and other operating expenses as set forth in Section 5.

2.3 Late Payment. Any Rent not paid within days after the due date shall accrue interest at the rate of % per annum, compounded monthly, in addition to any other remedies available to Landlord.

3. SECURITY DEPOSIT

Tenant shall deposit with Landlord upon execution of this Lease the Security Deposit in the amount of $ to secure Tenant's performance of its obligations. Landlord may use the Security Deposit to cure defaults, repair damage, or satisfy unpaid obligations and shall provide an itemized statement of deductions.

4. PERMITTED USE

Tenant shall use and occupy the Premises only for the Permitted Use and shall not use the Premises for any other purpose without Landlord's prior written consent, which consent shall not be unreasonably withheld.

5. TAXES, UTILITIES AND OPERATING EXPENSES

5.1 Allocation. Tenant shall be responsible for and shall pay, as additional rent, Tenant's proportionate share of all real estate taxes and assessments, utilities, and operating expenses of the Premises as determined by Landlord in accordance with established allocation methods.

5.2 Lease Type (select applicable): Triple Net (Tenant pays taxes, insurance and maintenance) Gross Lease (Landlord pays operating expenses)

6. MAINTENANCE, REPAIRS AND ALTERATIONS

6.1 Tenant Obligations. Except for matters the Lease expressly states are Landlord's responsibility, Tenant shall, at Tenant's sole cost and expense, keep the Premises in good order and condition and shall make all repairs and replacements required to maintain the Premises in the condition required under this Lease.

6.2 Alterations. Tenant shall not make any structural alterations or additions to the Premises without Landlord's prior written consent, which consent shall not be unreasonably withheld. All permitted alterations shall be performed in a workmanlike manner and in compliance with all laws.

Landlord approval required for alterations: Yes, written approval required

7. INSURANCE AND INDEMNITY

7.1 Insurance. Tenant shall procure and maintain commercial general liability insurance with minimum limits of $ per occurrence naming Landlord as an additional insured as its interest may appear. Tenant shall also maintain property insurance for Tenant's personal property and improvements.

7.2 Indemnity. Tenant shall indemnify, defend, and hold Landlord harmless from and against all claims, liabilities, losses, damages, costs and expenses (including reasonable attorneys' fees) arising out of Tenant's use of the Premises, except to the extent caused by Landlord's gross negligence or willful misconduct.

8. ASSIGNMENT AND SUBLETTING

Tenant shall not assign this Lease or sublet the Premises, in whole or in part, without the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned, or delayed. Any purported assignment or subletting without Landlord's consent shall be void and, at Landlord's option, shall constitute a default.

9. DEFAULT; REMEDIES

9.1 Event of Default. An Event of Default shall occur if Tenant fails to pay Rent or other amounts due within days after written notice, or if Tenant breaches any other material covenant of this Lease and fails to cure within a commercially reasonable period not to exceed 30 days after notice.

9.2 Remedies. Upon an Event of Default, Landlord shall have all remedies available at law or in equity, including termination of the Lease, recovery of damages, and recovery of unpaid Rent. Landlord's exercise of one remedy shall not preclude the exercise of any other remedy.

10. NOTICES

All notices required or permitted under this Lease shall be in writing and shall be delivered in person, by certified mail, return receipt requested, or by nationally recognized overnight courier to the addresses set forth above (or to such other address as either Party may designate by notice).

11. CONDEMNATION; DAMAGE

If the whole or a substantial portion of the Premises is taken or condemned by any public authority or is so damaged by fire or other casualty that Tenant's continued use is materially impaired, either Party may elect to terminate this Lease by written notice to the other Party. Any awards for taking or damage shall belong to Landlord, except sums awarded to Tenant for Tenant's personal property or business interruption.

12. MISCELLANEOUS

12.1 Governing Law. This Lease shall be governed by and construed in accordance with the laws of the state where the Premises are located without regard to conflict of law principles.

12.2 Entire Agreement. This Lease (including all exhibits and schedules) constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior negotiations, understandings and agreements.

12.3 Severability. If any provision of this Lease is held invalid or unenforceable, the remainder of the Lease shall remain in full force and effect and such invalid or unenforceable provision shall be reformed to the extent necessary to make it valid and enforceable while preserving the Parties' intent.

12.4 Amendments; Waiver. This Lease may be amended only by a written instrument signed by both Parties. No waiver of any provision shall be effective unless in writing and signed by the waiving Party.

12.5 Counterparts. This Lease may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Facsimile or electronic signatures shall be effective for all purposes.

EXECUTION

The Parties have executed this Lease as of the Effective Date first written above.

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