Fill and Sign the Following Disclosures Are Made by the Sellers Concerning the Condition of the Property Form

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
Dollars , , in advance, by the first payment date. 4. Interest: the rent is payable at the rate of 3% per annum by the second payment date. 5. Taxes: (a) the tax liability is, per annum, dollars . (for lessee , see notes on the first lease.) (b) the lessee and the lessor agree that the lessee shall: (1) pay to the lessor a reasonable fee or consideration for services used by the lessee in keeping and maintaining the premises; (2) pay to the lessor a reasonable fee or consideration for services used by the lessor in keeping and maintaining the improvements to leased premises; (3) be responsible for all such taxes that are due and payable by the lessee in such manner as determined by the lessor; and 7, if applicable, pay the amount of such taxes (including interest thereon) and other assessments, penalties, damages, fees or charges in accordance with the laws of the state, city, village or political subdivision of the state and the applicable statutes of the lessor and lessee. 8. Change of use: when the changes in use of the leased premises cause the greater amount of expense to be incurred by lessor than the original contract price for the use of those premises, lessee is relieved from future obligation to pay such cost in accordance with the original agreement. 9. Security: lessor and lessee agree that the security deposited or the bond of the lessor issued under section four hundred one of the act of, nineteen hundred fourteen, as amended , and all other written, evidence of lessee's rights and obligations, are and shall be the sole and final security for the performance of the contract and the performance thereof by lessor and lessee for the property owned by them. 10. Breach of contract: (a) the term, in any event, as long as it remains in existence, and no amount may have become due or payable to lessee under this lease agreement in respect thereof during the term, lessee is considered to have breached the terms of the lease and any obligation the lessee has to pay to lessor or to lessor shall be reduced by any amount paid by lessor. Where lessee has, on the basis of information provided by lessor, been unable to timely correct a material nonconformance of the leased premises, and if such failure had made it illegal for such lessee to occupy the leased premises, upon the request of lessee no further.