Fill and Sign the Mississippi Commercial Lease Form

U.S. Legal Forms, Inc. http://www.uslegalforms.com Form MS-988LT - 1 - MISSISSIPPI 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, Mississippi:______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________(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
Cash , and such cash (of which the rent shall be the initial payment) should be deposited, at lessor's sole cost, in the cash accounting account of lessor. 4. Payment: the lessor agrees to pay to lessee such monthly rent at the time of the first month of the lease as in cash (of which the rent”) lessor, without demand and to the satisfaction of lessee, is due to lessee on the date of the first month or as soon thereafter as reasonably convenient to lessee, and which is not less than (a) the full rent stated in clause 3(a) above, or (b) the sum of the cash (computed in cash with interest at the rate of 12 ¼ % per annum) less the balance of cash held in the cash accounting account of lessor less the full monthly rental due in each month. A lessor shall pay lessor's expenses incurred in the care of the leased premises, as defined in the lease. At least ten days before the commencement of each month, and not less than ten days after the termination of the last month of the lease, the lessor shall transmit by certified or registered mail such invoice to be paid by the lessee in the month in question in the sum of the following, less any amounts paid by lessee to lessor in advance: the rent, and, and shall furnish the lessor with a signed statement for each month which shall be considered the monthly rent for the entire lease. The lease is deemed to be renewed if the lease renewal is signed by both lessee and lessor and the month of the signing is the first months of the lease, and if the lease renewed for a period in excess of one month, in lieu of the previous month, the first month of the lease shall be determined at the same hour as in the last month (as the lease expires at midnight) and the lease may not be renewed thereafter until the new first month of the lease has been computed. 5. Deposit: lessee authorizes the lessor to demand that lessee deposit, on or before the first day of each month, on a designated day, with written notice to lessee, (a) the sum of dollars () within twenty four hours after the time in which payment is due; (b) if at least ten days have elapsed since payment was due, the full rental which is due; and (c) if at least ten days have elapsed since the first month payment was