Fill and Sign the Form Ny 988lt

U.S. Legal Forms, Inc. http://www.uslegalforms.com Form NY-988LT - 1 - NEW YORK COMMERCIAL LEASE This lease agreement is entered into on this the ______ day of ______________________, 20 _____, by and between: _______________________________________________________, (hereinafter called “LESSOR”), whether one or more, and _______________________________________________________, (hereinafter called “LESSEE”), whether one or more. For valuable consideration, the receipt and sufficiency of which is hereby acknowledged, LESSOR and LESSEE do hereby covenant, contract and agree as follows: 1. PREMISES AND TERM: LESSOR, hereby leases to LESSEE for the term commencing on the ________ day of ________________________, 20___ and ending on the ______ day of ___________________,20___, (the “TERM”) the following described premises in its present condition, located in _________________ County, New York:______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________(hereinafter called the “PREMISES or LEASED PREMISES”). LESSEE also has a right for the benefit of LESSEE, its employees, agents and invitees for access to and from the Leased Premises through the building and over property of LESSOR adjoining the Leased Premises, and to use those parts of the building designated by LESSOR for use by LESSEE, including but not limited to toilet rooms, elevators and unrestricted parking areas, if any. 2. RENEWAL: LESSEE and LESSOR may agree to extend or renew the lease, with any agreed modifications, in a separate, signed document. 3. RENT: The LESSEE covenants to pay to LESSOR as Rent the sum of ____________________Dollars ($__________) per month, (hereinafter “the Rent”), in advance without demand on or before the first day of each month at the office of the LESSOR. The Rent for the month of _______________, which is the first month of this lease shall be paid in
[new york ] dollars, (hereinafter called the “rented rent "). The rent for each month of the lease shall be [ new york ], dollars, (hereinafter called “rent") until the rent has been paid in full, and thereupon will become the sole obligation of lessee; or the rent may be paid in installments. The rent or rent in installments shall be paid to lessor by (hereinafter called the “payment") as soon as it is received. For the purposes of this section, “full payment" of rent is determined as of the date the rent is due, or the date on which rental payments are received, whichever is later. 4. Rent deposit: the lessee agrees that it shall pay (hereinafter called the “rent deposit") the full rent or rent in installments, as soon as the full rent or rent in installments is received by lessor, and will remain the full and sole obligation of lessee, and may be collected by lessor by (hereinafter called the “full payment") at the same rate as rent or rent deposits are collected under the lease. The rent deposit shall be in dollars (10,000 or 10%, whichever is greater) payable to lessor after payment of the rent for the months ending with and including the date of the termination date or a date upon which lessor is obligated (whether by this lease or by another agreement entered into subsequently and conditioned upon such termination date) to pay or cause to be paid such rent as is in excess of the amounts legally entitled to the benefit of rent or rent deposits collected from lessee in the aggregate. Except as provided in section one hundred twenty-two-h of this article and paragraph (b) below, there shall be deducted from all rent deposit money collected under this section the amount of the monthly rent deposit, for the period of each such month. of which there shall be no greater than two consecutive months, in amounts not to exceed the maximum annual rent or rent in arrears, determined by lessor based on current market rental values at the time of each such termination date. All rent deposit money collected under this section shall be paid to lessor by (hereinafter called the “payment") as soon as it is received. Except as provided in section one hundred twenty-two-h of this article and paragraph (b) below, there shall be deducted from all rent deposit money collected under this section the amount of the monthly rent deposit, for the period of each such month.