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Lease Agreement by and Between Metropolitan Life Insurance

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Parking Clause

Section 9.01. Tenant shall notify Landlord in writing within 180 days after the Commencement Date of the number of parking spaces (up to a maximum of 125, subject to increase as provided in Article 47) that Tenant wishes to hire from Landlord (the "Tenant's Parking Spaces"). Landlord shall make the Tenant's Parking Spaces available to Tenant and Tenant shall hire same from Landlord, in such areas (the "Parking Areas") on the Property as Landlord shall periodically designate for parking.

Landlord makes no representations or guarantees whatsoever as to the specific location of Tenant's Parking Spaces or whether Tenant's Parking Spaces will be under cover or open. Tenant's Parking Spaces shall be used exclusively for the parking of standard size passenger cars (or smaller cars), belonging to or leased to or operated by Tenant, any of Tenant's permitted subtenants, and their respective employees, visitors and invitees, and for no other purpose.

Tenant shall not allow any parking of any cars of Tenant or Tenant's permitted subtenants, or their employees, visitors or invitees, outside of the Parking Areas or in parking spaces within the Property designated for use by Landlord or other tenants or their respective employees, visitors or invitees.

Landlord reserves the right to relocate or alter Tenant's Parking Spaces within the Parking Areas if, in Landlord's sole judgment, it becomes desirable to do so during the Term.

Tenant shall upon request promptly furnish to Landlord the license numbers of the cars operated by Tenant and Tenant's permitted subtenants and their employees and contractors.

Notwithstanding the provisions of this Section 9.01, from time to time throughout the Term, but not more often than once in any 3 month period, Tenant shall have the right by written notice to Landlord to terminate its hiring of any number of Tenant's Parking Spaces.

If Tenant shall terminate its hiring of any of Tenant's Parking Spaces pursuant to the preceding sentence, Tenant shall not have any further right to rehire such Tenant's Parking Spaces from Landlord.

Section 9.02. All parking spaces used by Tenant, its employees, visitors and invitees will be used at their own risk, and Landlord shall not be liable for any injury to person or property, or for loss or damage to any automobile or its contents, resulting from theft, collision, vandalism or any other cause whatsoever, unless such injury or loss is caused by the negligence or willful act of Landlord.

Section 9.03. Landlord shall have the right to license an independent operator or conduct a parking operation open to the public with respect to the Parking Areas or to conduct such operation itself.

Section 9.04. Tenant shall pay to Landlord monthly, as Additional Rent, on the first day of each month, without any set-off or deduction whatsoever, or in lieu thereof, to any parking operator who shall be licensed by Landlord to conduct a parking operation with respect to the Parking Areas, the amount obtained by multiplying the number of Tenant's Parking Spaces reserved in any given month by the monthly rate (the "Parking Rate") then charged by Landlord or such operator to the general public for an equivalent space for such month; provided, however, Tenant shall have the right to notify Landlord that any number of Tenant's Parking Spaces have been reserved for Tenant's employees, in which case each such individual employee shall contract directly with Landlord or such parking operator for the payment of the Parking Rate.

Notwithstanding the foregoing proviso, in the event that any such employee fails to pay any of its parking fees then, upon five (5) Business Days notice from Landlord (time being of the essence), Tenant shall have a right to redeem the balances owing for such space(s) before any such space(s) are terminated by Landlord.

If Tenant fails to so redeem such space(s), then:

Landlord may terminate Tenant's (and such employee(s)') rights to such space(s).

Tenant shall have no further right to rehire such Tenant's Parking Spaces from Landlord.

Tenant shall pay Landlord, as Additional Rent, the parking fees applicable to such terminated space(s) for such 5-Business Day period.

If any of Tenant's Parking Spaces shall be first made available to Tenant other than on the first day of a month, then Tenant shall make the payments in respect of such Spaces for such month on the date same are so made available appropriately prorated.

Section 9.05. Landlord, or the parking lot operator, as the case may be, shall have the right to tow, at Tenant's sole cost and expense, any of Tenant's or Tenant's permitted subtenants', or their employees', visitors' or invitees' cars that are parked outside of Tenant's Parking Spaces to the extent specific spaces are reserved for tenants.

Section 9.06. Landlord shall have the right to require that all cars to be parked in Tenant's Parking Spaces shall exhibit such identification as Landlord may from time to time deem reasonably necessary to control the use of the Parking Areas.

Landlord shall have the right to tow, at Tenant's sole cost and expense, any of Tenant's or Tenant's permitted subtenants', their visitors' or invitees' cars not exhibiting such identification if required. Landlord shall have the right to tow any of Tenant's employees' cars not exhibiting such identification if required, and the cost of such towing shall be borne by any such employee of Tenant.

Section 9.07. Landlord shall have the right to institute valet parking, as a Building service or a service of the parking operator, in which event Tenant shall comply with all rules promulgated by Landlord or such parking operator relating thereto.

Tenant Signature:

Date:

Landlord Signature:

Date:

Enter text✕

What the Lease Agreement by and Between Metropolitan Life Insurance Is

The Lease Agreement by and Between Metropolitan Life Insurance is a formal real estate contract that sets out the rights and obligations between Metropolitan Life Insurance (the landlord or lessor) and a tenant. It documents the leased premises, rent and payment schedule, lease term, permitted uses, maintenance responsibilities, insurance and indemnity provisions, default and remedies, and any tenant improvements or signage rights. The agreement governs occupancy and commercial use, and can be executed in paper or electronically where permitted under the ESIGN Act (15 U.S.C. ch. 96) and applicable state UETA or ESRA rules.

Why a Standardized Metropolitan Life Lease Matters

A clear, consistent lease reduces ambiguity about rent, term, maintenance, insurance, and liability allocation, making enforcement and asset management simpler for institutional landlords and corporate tenants.

Why a Standardized Metropolitan Life Lease Matters

Who Typically Uses This Metropolitan Life Lease Agreement

Use the template when parties seek consistent commercial terms, easier auditing, and clear electronic or physical recordkeeping for long-term asset management.

  • Landlord / Asset Manager — Property owners, institutional portfolio managers, and in-house leasing teams who need standardized terms and centralized records.
  • Corporate Tenant / Facilities Team — Companies negotiating commercial space, ensuring compliance with insurance, use restrictions, and build-out obligations.
  • Legal & Compliance — Counsel and contract administrators who review indemnities, default remedies, and regulatory disclosures.

Core Sections to Expect in the Metropolitan Life Lease Agreement

A professional lease combines business terms with risk allocation clauses to protect both landlord and tenant while enabling enforceability and operational clarity.

Parties

Identifies Metropolitan Life Insurance and the tenant by full legal names and business entity types; includes contact and notice addresses and authorized signatories.

Premises

Precise legal description and suite boundaries, rentable square footage, common area allocations, and any exclusive use or signage rights tied to the space.

Rent & Charges

Base rent, escalation methods (CPI, fixed increases), CAM or NNN charges, payment dates, late fees, and accepted payment methods.

Term & Renewal

Commencement and expiration dates, options to renew, notice timing for renewal or nonrenewal, and holdover provisions with defined remedies.

Maintenance & Repairs

Allocation of maintenance responsibilities, repair standards, capital improvement cost allocation, and requirements for tenant alterations and restoration.

Insurance & Indemnity

Required liability and property insurance types and limits, certificates of insurance delivery timing, and indemnity scope for both parties.

Step-by-Step: How to Fill Out This Lease Agreement

Complete the lease in logical order to reduce revisions and ensure consistency across related exhibits and attachments.

  • 01
    Prepare Document: Assemble exhibits, floor plans, and insurance requirements before editing.
  • 02
    Populate Parties: Enter full legal names and addresses for landlord and tenant.
  • 03
    Set Business Terms: Define rent, term, security deposit, and permitted uses precisely.
  • 04
    Execute & Distribute: Collect signatures and distribute fully executed copies to all parties.

Configure an Online Workflow for Completing the Lease

Set up a digital signing workflow that enforces signing order, authentication, reminders, and retention for auditability.

Field Configuration
Signing Order Sequential signing with landlord first, tenant second.
Authentication Email link with optional SMS code for stronger identity assurance.
Reminder Schedule Automated reminders at 3, 7, and 14 days before expiration of pending invites.
Retention Policy Store executed lease and audit trail per record retention schedule.

Delivery Options and Technical Requirements

Preserve the signed PDF and the platform’s audit trail (timestamps, IP addresses, signer emails) for enforceability and future reference.

  • File Formats: Use PDF/A or flattened PDF and retain original DOCX for edits.
  • Integrations: Connect with CRM or document management (Salesforce, NetSuite, Google Workspace).
  • Authentication: Support email, SMS code, or identity verification depending on desired assurance.

Where to Send or File the Executed Lease

After execution, distribute executed copies to relevant parties and record or file only when required by local law or beneficial for priority against third parties.

  • Executed Copies: Provide signed PDF to landlord, tenant, and property manager immediately.
  • Corporate Records: File in the landlord’s lease ledger and tenant’s facilities records.
  • County Recording: Record with county recorder when lease exceeds local recordation threshold.
  • Insurance Proof: Deliver certificates of insurance to landlord before occupancy begins.

Key Dates and Notice Deadlines to Track

Confirm all operational and legal dates to avoid default or missed renewal and notice windows.

Lease Effective Date:

Date obligations begin; use MM/DD/YYYY format.

Rent Commencement:

Date when rent payments first due; may differ from effective date.

Security Deposit Deadline:

When deposit must be paid prior to occupancy or lease execution.

Insurance Delivery:

Certificates due before tenant occupies premises.

Renewal Notice:

Tenant or landlord must provide notice per lease (commonly 30–180 days).

Milestone Timeline from Negotiation to Occupancy

A concise sequence ensures all parties meet obligations and the space is ready by commencement.

01

Negotiation

Term sheet agreed and exhibits attached; legal review completed.

02

Execution

Authorized signatories sign and initial all pages; signatures dated.

03

Distribution

Executed copies sent to landlord, tenant, broker, and property manager.

04

Commencement

Tenant occupancy begins and rent obligations start per schedule.

Security and Compliance Elements to Preserve Lease Integrity

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest
Audit Trail: Timestamps, IPs, signer email, and action history
Certifications: SOC 2 Type II, ISO 27001, PCI DSS
HIPAA Support: BAA available where PHI exposure exists
ESIGN/UETA: Compliant with U.S. electronic signature law
21 CFR Part 11: Support for FDA-regulated record controls

Common Penalties and Risks of an Incorrect or Incomplete Lease

Breach Liability: Monetary damages and specific performance
Unenforceable Terms: Missing signatures can void contractual rights
Insurance Gaps: Uninsurable loss exposure and indemnity disputes
Recording Risk: Priority issues vs third-party interests
Tax Exposure: Incorrect rent reporting or deductions
Ineffective Notices: Missed cure periods and accelerated remedies

Frequent Preparation Mistakes to Avoid

  • Failing to attach and reference all exhibits and plans, leaving critical obligations ambiguous and increasing dispute risk.
  • Using inconsistent party names or titles across the document, which can complicate enforcement and title searches.
  • Neglecting to require delivery of certificates of insurance before occupancy, exposing landlord to uninsured risks.
  • Omitting explicit permitted uses or signage rules, leading to tenant use disputes and code compliance problems.

Practical Tips to Ensure an Accurate and Enforceable Lease

Adopt these practices to minimize disputes and streamline administration of Metropolitan Life lease agreements.

Use Precise Language
Define terms (commencement, rentable area, CAM) precisely, reference exhibits clearly, and avoid subjective phrases that create ambiguity.
Confirm Entity Authority
Verify signatory authority, corporate resolutions, or officer delegations before execution to ensure enforceability against each party.
Centralize Records
Store executed documents, exhibits, insurance certificates, and amendments in a single secure repository with searchable audit trails.
Plan for Disputes
Include clear notice addresses, dispute resolution steps, and remedies to limit litigation and accelerate resolution.

Who May Sign on Behalf of Each Party

Landlord — Authorized Officer

An authorized officer, trust officer, or corporate designee with board resolution or delegated signature authority typically signs for Metropolitan Life Insurance; confirm authority in corporate records.

Tenant — Authorized Representative

A tenant’s CEO, CFO, managing member, or other authorized agent signs; corporations should attach a certified corporate resolution if requested.

Real-World Examples of Digital Lease Execution

These examples illustrate how organizations process lease documents and handle execution, storage, and compliance in practice.

Martin Properties

Tim Martin used digital signing to execute multiple commercial leases remotely, streamlining occupancy dates and insurance verifications.

  • Key point: mobile and offline signing supported.
  • The result was consistent compliance with audit trails and faster tenant onboarding without in-person meetings, while preserving legally admissible signed PDFs and execution metadata for records.

Optica Ventures LLC

Brian Fitzgibbons described simplified workflows for customers and internal teams using online templates for leases.

  • Key point: consistent templates reduce revisions.
  • This enabled faster turnarounds on lease negotiations, fewer drafting errors, and centralized storage of executed leases and associated exhibits for portfolio reporting.

eSignature Pricing and Feature Comparison for Lease Execution

Compare baseline pricing and core feature availability for common eSignature vendors when executing lease agreements; signNow appears first per vendor ordering rules.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No cap 100 envelopes/user/year Varies Varies Varies

Frequently Asked Questions About the Metropolitan Life Lease Agreement

Answers to common questions about signing, notarization, recordkeeping, and correcting errors in the lease.


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