Lease Agreement for Office Space

Short Form Lease of Office Space

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 Landlord, 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 Tenant.

Whereas, Landlord is the sole owner of certain land and a building located at and more fully described below, including the suite of offices numbered (number) in the building known as (name of building), located at (address of building), consisting of (number) rooms, which it desires to lease to Tenant; and

Whereas, Tenant is a corporation that desires and is empowered to lease said property;

and

Whereas, the parties desire to enter into a lease agreement to define their respective rights, duties, and liabilities concerning such a 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. Demise and Description of Premises

Landlord hereby leases to Tenant the suite of offices numbered (number) in the building known as (name of building), located at (address of building), consisting of (number) rooms, said suite being hereafter referred to as the Premises.

II. Term

The term of the Lease shall be (number) years, commencing on the and terminating on the , unless sooner terminated under the provisions of this Lease Agreement.

III. Rent

During the term of this Lease, Tenant shall pay to Landlord rental of $ per month, payable in advance due on the day of each month, except that the first installment of $ , will be due and payable on the execution of this Lease Agreement. Rent checks shall be made payable Landlord and mailed to , or to such other address as Landlord shall notify Tenant of in writing at (street address, city, county, state, zip code).

IV. Use of Premises

The Premises are to be used for the purposes of (description of purpose). Lessee shall restrict its use to such purposes and shall not use or permit the use of the Premises for any other purpose without the prior, express, and written consent of Lessor.

V. Lessee’s Covenants

The Lessee covenants with the Lessor as follows:

A. To Pay Rent. To pay the rent at the times and in the manner set forth above in Section III.

B. To Pay Water Rates. To pay all water rates levied or payable during the term.

C. Repairs.

D. Additions and Alterations. Not to make or suffer any additions or alterations in or to Premises without the written consent of the Lessor.

E. Waste. Not to make or suffer any waste of the Premises..

F. Signs, etc. Not to suffer any holes to be drilled or made in the stone or brick work, nor any placard to be placed on the outer wall, nor any signs to be on the Premises, except such as the Lessor shall approve, and then only in such place and so affixed as the Lessor shall prescribe.

G. Improper Use. Not to make or suffer any unlawful, improper, or offensive use of the Premises, nor any use of the Premises other than the business purpose specified in Section IV.

H. To Conform to Regulations. To conform to such reasonable regulations as may be established from time to time by the Lessor for the general convenience of the tenants of the building.

I. Heating and Lighting Apparatus. Any heating or lighting apparatus which may be used on the Premises shall be of such kind as the Lessor shall approve.

J. Not to Increase Insurance Rate. Not to suffer to be carried on upon the Premises any trade or business, or anything to be done on the Premises, which would increase the rate of premiums for insurance upon the building or its contents.

K. Water or Other Damage to Property. The Lessor shall not be liable for any damage or injury by water or otherwise to any merchandise or property upon the Premises.

L. To Permit Lessor to Enter. To permit the Lessor at all seasonable times to enter upon and examine the Premises and make such repairs as it may think necessary for the protection of the Premises.

M. Not to Assign or Sublet. Not to assign this Lease or to sublet the whole or any part of the Premises without the consent in writing of the Lessor.

N. To Yield up in Good Repair. At the end of the term peaceably to deliver up to the Lessor the Premises, with all future erections or additions upon or to the same, in good repair, and vacant and unencumbered, and in good and tenantable order and condition.

VI. Lessor’s Covenants

The Lessor covenants with the Lessee as follows:

A. Quiet Enjoyment. The Lessee shall peaceably hold and enjoy the Premises without hindrance on the part of the Lessor.

B. Heat and Elevator. During business hours, except in case of unavoidable accident, Premises shall be kept adequately heated and the elevator shall be kept.

VII. Reentry

In case of a breach of any of the Lessee's covenants set forth above, or in case the estate created by the Lease shall be taken from the Lessee by process of law or by proceedings in bankruptcy or insolvency or otherwise, the Lessor may, while the default shall continue, or at any time after such taking, and notwithstanding any license or waiver of any prior breach of condition, without notice or demand, enter upon the Premises and by such act terminate this Lease, and may then expel and remove, forcibly, if necessary, the Lessee and its effects, as allowed by law.

VIII. Indemnification

In case of a termination of this Lease by a reentry as provided above, the Lessee shall indemnify the Lessor for all loss or damage which it may suffer during the residue of the term by reason of such termination, whether through loss or decrease of rent or otherwise.

IX. Abatement of Rent

If the buildings on the Premises or any part of them at any time during the term are damaged by fire or other unavoidable casualty so as to be unfit for use and occupation, and if additionally, in case of loss or damage by fire, the policy or policies of insurance effected by the Lessor have not have been vitiated or payment of the insurance moneys refused in consequence of some act or default of the Lessee, then the rent under this Lease or a just and proportionate part of the rent, according to the nature and extent of the damage sustained, shall be abated until the Premises have been repaired and restored by the Lessor, or, in case the buildings are substantially destroyed, then at the election of the Lessor or of the Lessee this Lease shall be terminated.

X. Interpretation; Binding Effect

In the interpretation of this Lease, whenever the context so permits, the words Lessor and Lessee shall include the parties' respective executors, administrators, heirs, and assigns. The covenants and stipulations of this Lease shall be binding upon and inure to the benefit of such persons included under such definitions of the words "lessor" and "lessee."

XI. 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.