Fill and Sign the Net Lease Agreement Template Form

Triple Net Commercial Lease Agreement Lease Agreement made on the _____ day of __________________________, 20____, between ________________________________________________________ , 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 ________________________________________________ , 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, a building and other facilities located at _____________________________________________________________________ ______________________________________________________________________________ _________________________________________ (street address, city, county, state, zip code) and more fully described below, which it desires to lease to Tenant ; and Whereas, Tenant is a corporation that desires and is empowered to lease said property; and Whereas, t he 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: 1. Description of Premises and Purpose Landlord hereby leases to Tenant property located at ______________________________________________________________________________ ______________________________________________________________________________ ____________________________ (street address, city, county, state, zip code) , comprising land and a building, together with the improvements on such property, and more particularly described in Exhibit A ___________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ (legal description) , which is attached to and made a part of this Lease Agreement. Said demised premises, including all land and improvements located on the demised premises and described in Exhibit A, are hereinafter referred to as Premises. 2. Term The term of the Lease shall be ____________ (number) years, commencing on the ______________________________________ day of ______, 20_____, and terminating on the ____________________________________ day of ______, 20_____, unless sooner terminated under the provisions of this Lease Agreement. This term shall be automatically extended from year to year unless notice to vacate is given by Landlord to Tenant within _____days from the end of each one year term or unless notice is given by Tenant to Landlord within _____days from the end of each one year term. 3. 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 ____________________ ______________________________________________________________________________ ______________________________________________________________________________ (street address, city, county, state, zip code) , or to such other address as Landlord shall notify Tenant of in writing at __________________________________________________________ ______________________________________________________________________________ ________________________________________ (street address, city, county, state, zip code) . 4. Taxes Tenant shall pay all real estate taxes and assessments on Premises during the full term of this Lease. Landlord agrees to cooperate with Tenant in seeking a reduction from the taxing authorities in any real estate tax increase during the lease term and any renewals thereof. Furthermore, Tenant shall pay all special or local assessments that may be levied against the demised premises by reason of improvements made thereon by Tenant or of the street or sidewalks surrounding the property. 5. Fire, Hazard and Liability Insurance A. Tenant shall provide and keep in force, at Tenant’s sole expense, fire and hazard insurance sufficient to replace or restore the Premises in the event of loss or damage. B. Tenant shall also provide and keep in force, at Tenant's sole expense, for the benefit of Tenant and Landlord, general public liability insurance protecting Tenant and Landlord against claims for bodily injury or death occurring on or in the Premises , or in the parking lots, streets and underground passageways adjacent to the Premises , for not less than $_______________ with respect to any one accident or disaster, for not less than $___________ with respect to bodily injury or death to any one person, and for not less than $______________ with respect to destruction or damage to property. A liability policy or a certificate of insurance covering Tenant and Landlord, as their interests may appear, shall be deemed a compliance with the provisions of this paragraph. C. Tenant shall renew all fire, hazard and liability policies of insurance that it is required to procure and maintain under the provisions of this Lease when renewal is required, and at least ____ days prior to the expiration of the policies, Tenant shall furnish to a copy of the binder from the insurer. Tenant shall also provide Landlord with the renewal of the insurance policies hereunder. All binders, policies, or certificates shall provide for ____days, notice from insurers to Landlord of any cancellation or amendment to any of the insurance policies, where a notice requirement of this nature is acceptable to insurer. D. Tenant shall, in addition, and in any event hold the Landlord harmless from any liability arising from the operation, or possession of Premises, and the Tenant agrees to indemnify Landlord against and save Landlord harmless from all demand, claims, causes of action or judgments for injury to person, loss of life, or damage to property occurring on said premises and arising out of the Tenant's use and occupancy. 6. Destruction of Premises If the Premises, or any part thereof, are damaged or destroyed by fire or other casualty, the Tenant shall, except as otherwise provided herein, repair and rebuild the Premises with reasonable diligence, and if there is interference with the operation of the Tenant's business in said Premises , the rental shall be equitably apportioned according to the time during which, and the extent to which, the Premises may have been untenantable. 7. Condemnation In the event the Premises hereby leased, or any part thereof are taken in condemnation proceedings, Tenant may cancel this Lease and all condemnation moneys shall belong to the Landlord, according to its respective interest. 8. Subletting or Assignment A. Tenant shall not assign this Lease Agreement or any interest in this Lease Agreement, or sublet the Premises or any part of thereof or any right or privilege appurtenant to the Premises, or allow any person other than Tenant and Tenant's agents and employees to occupy or use the Premises or any part thereof, without first obtaining Landlord's written consent. B. Landlord's consent to one assignment, sublease, or occupancy or use shall not be deemed to be a consent to any subsequent assignment or sublease, or to any occupancy or use by any other person. C. Any unauthorized assignment or sublease shall be void, and shall terminate this Lease Agreement at Landlord's option. 9. Default In the event Tenant shall be in default in the payment of rentals hereunder or if Tenant shall default in any of the covenants herein contained and should such default continue for _______ days after receipt of written notice by Tenant from Landlord, it shall be lawful for Landlord to enter upon and take possession of said Premises, provided, however, that if the default by Tenant relates to any covenant other than one respecting the payment of rent, then Landlord may not enter upon and take possession of said premises or exercise any other remedy provided by law unless Tenant fails within said _____ day period to begin to remedy the default complained of and thereafter fails to make diligent efforts to complete the remedy. 10. Encumbrances and Restrictions : Landlord covenants and warrants that Landlord has the lawful right to lease the Premises and that said Premises are free and clear of any and all liens, easements, restrictions and encumbrances except those reflected in the land records of the ___________________________ Clerk of _____________________________ County, __________________________________. 11. Waste Tenant, its assignees or sublessees shall not commit waste upon Premises and at the expiration of this Lease will peaceably surrender possession of Premises to the then owners of said real estate in safe condition. 12. Peaceful Use Landlord covenants that Landlord will put Tenant into complete and exclusive possession of the Premises as hereinbefore provided, and that, if the Tenant shall pay the rental and perform all of the covenants and provisions of the Lease to be performed by Tenant , the Tenant shall during the term demised, freely, peaceably and quietly occupy and enjoy the full possession of the Premises , and the rights and privileges herein granted, without molestation or hindrance, lawful or otherwise. 13. Landlord May Sell (Conditions) In the event that Landlord shall at any time during the term of this Lease desire to sell the Premises pursuant to any bona fide and acceptable offer which it shall have received, it shall offer Premises to Tenant at the same price as that contained in such bona fide offer . Tenant shall have ____days from and after receipt thereof to decide whether or not to purchase the Premises at such price. If the Tenant shall give notice of intent not to purchase or shall give no notice within the time herein limited, Landlord may accept such offer and proceed with the sale thereunder. If Tenant notifies Landlord that it elects to purchase said interest in the Premises at such price, the parties shall enter into a contract of purchase and sale forthwith, and Tenant shall, within _____days following evidence of marketable title to said property, tender the purchase price thereof to Landlord in exchange for a deed to said interest. Such contract shall provide, among other things, for prorating taxes to date of closing and for Landlord to supply an attorney's certificate showing good title sufficient for Tenant to acquire Landlord's fee simple interest in and to said Premises and a Warranty Deed to Premises . 14. Notices All notices required under this Lease shall be deemed to be properly served if delivered in writing personally or sent by certified mail with return receipt requested, to Tenant at ______________________________________________________________________________ ______________________________________________________________________________ _____________________________ (street address, city, county, state, zip code) , to Landlord at ______________________________________________________________________________ ______________________________________________________________________________ _________________________________________ (street address, city, county, state, zip code) , or to any subsequent address which Tenant or Landlord designate in writing to the other parties for such purposes. Date of service of a notice served by mail shall be the date on which such notice is deposited in a post office of the United States Post Office Department. 15. Repairs: Tenant, at Tenant’s sole expense, shall maintain the Premises in good repair and in at least as good condition as that in which they were delivered, allowing for ordinary wear and tear. 16. Utilities Tenant shall pay all charges measured by consumption or use for water, sewage disposal, telephone, gas, electricity, and any other similar utility, commodity, or service furnished to or used by Tenant whether such utility services are furnished by Landlord or are submetered by Landlord or furnished directly from the utility company or governmental body or agency. 17. Alterations and Improvements A. Tenant shall not improve or alter the Premises in any manner without the prior, express, and written consent of Landlord, but shall, before making any improvements or alterations, submit plans and designs for such improvements or alterations to Landlord for its approval. In the event that the plans and designs are disapproved, the improvements or alterations shall be made only with such changes as may be consented to by Landlord. B. Furnishings, trade fixtures, and equipment installed by Tenant shall be the property of Tenant and may be removed by Tenant at any time during the term of this Lease Agreement provided that Tenant is not in default under this Lease Agreement. On termination of this Lease Agreement, Tenant shall remove any such property. Tenant shall repair any damage to the Premises resulting from the installation or removal of such property. 18. Permitted Uses: The Premises during the continuance of this Lease Agreement shall be used and occupied for any and all lawful purposes and for no other purpose or purposes. Tenant shall not use the Premises for any purpose in violation of any federal, state, or municipal statute or ordinance, or any regulation, order, or directive of a governmental agency, as such statutes, ordinances, regulations, orders, or directives now exist or may hereafter provide, concerning the use and safety of the Premises. 19. Miscellaneous A. Nothing contained herein shall be deemed or construed by the parties hereto, nor by any third party, as creating a relationship of principal and agent or of partnership or of joint venture between the parties hereto. B. No waiver of any condition or covenant of this Lease by either party shall be deemed to imply or constitute a further waiver of the same or any other condition or covenant of said Lease. C. A Memorandum of this Lease may be recorded in said Clerk's land records of _______________________________________ County, _______________________________, by any party hereto. 20. Surrender and Holding Over Tenant shall surrender the Premises to Landlord on the expiration or termination of this Lease Agreement. If Tenant holds the Premises after termination of this Lease Agreement, a tenancy from month-to-month shall be created by such holding at a rental of $______________ per month. The acceptance of the rental by Landlord will not extend the term of this Lease Agreement in any manner. 21. Governing Law This Lease Agreement shall be governed by, construed, and enforced in accordance with the laws of the state of _________________________________. 22. Entire Agreement This Agreement, including the Exhibits attached hereto, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all previous proposals, both oral and written, negotiations, representations, commitments, writings and all other communications between the parties. This Agreement may not be released, discharged, changed or modified except by an instrument in writing signed by a duly authorized representative of each of the parties. 23. 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. _________________________________ , INC. ______________________________ , INC. By_____________________________________ By_________________________________ _______________________________________ ____________________________________ (Name and Office in Corporation) (Name and Office in Corporation) LANDLORD TENANT Attach Exhibits Acknowledgment (form may vary state by state)