VAP Lease Agreement

VAP LEASE AGREEMENT

This VAP Lease Agreement (the "Agreement") is made and entered into as of by and between Lessor Name: , and Lessee Name: .

RECITALS

WHEREAS, Lessor is the legal owner or authorized agent of the real property located at (the "Premises");

WHEREAS, Lessee desires to lease the Premises from Lessor for the purpose set forth below and subject to the terms and conditions contained herein;

WHEREAS, Lessor is willing to lease the Premises to Lessee on the terms and conditions set forth in this Agreement.

NOW THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the parties agree as follows:

1. DEFINITIONS

For purposes of this Agreement, the following terms shall have the meanings set forth below: "Premises" means the property described above; "Rent" means the monetary payment due from Lessee to Lessor as provided in Section 3; "Term" means the duration of this Lease as provided in Section 2.

2. LEASE TERM

2.1 Commencement. The Lease commences on (Commencement Date).

2.2 Term. The Lease shall continue for a period of months, terminating on , unless sooner terminated in accordance with this Agreement.

3. RENT

3.1 Amount and Payment. Lessee shall pay to Lessor as rent the sum of $ per month, in advance, due on or before the day of each month.

3.2 Late Charge. If Rent is not paid within days after the due date, Lessee shall pay a late fee of $ and interest at the lesser of the maximum lawful rate or per annum, calculated daily.

4. SECURITY DEPOSIT

Lessee shall deposit with Lessor the sum of $ as a security deposit to secure Lessee's performance. Lessor may apply the security deposit to cure Lessee's default, repair damage, or satisfy unpaid obligations. Any remaining deposit shall be returned to Lessee within the period required by applicable law after termination and delivery of possession.

5. USE; COMPLIANCE WITH LAW

5.1 Permitted Use. Lessee shall use the Premises only for:

5.2 Compliance. Lessee shall comply with all applicable laws, ordinances, regulations and written rules governing the Premises. Lessee shall not commit or permit any waste, nuisance, or unlawful activity on the Premises.

6. MAINTENANCE AND REPAIRS

6.1 Lessee's Obligations. Lessee shall keep the Premises in a clean, sanitary and safe condition and shall promptly notify Lessor of any condition requiring repair. Lessee shall be responsible for repairs necessitated by Lessee's misuse or neglect.

6.2 Lessor's Obligations. Lessor shall maintain structural elements, major mechanical systems, and exterior common areas in a condition reasonably fit for their intended use, subject to Lessee's obligations with respect to damage caused by Lessee.

7. UTILITIES AND SERVICES

Lessee shall be responsible for payment of the following utilities unless checked otherwise:

Utilities payable by Lessee: Electricity
Gas
Water/Sewer
Trash
Internet/Cable

8. ALTERATIONS

Lessee shall not make structural alterations, additions or improvements to the Premises without Lessor's prior written consent. Minor non-structural alterations require written notice to Lessor and must be restored to original condition at termination unless Lessor agrees otherwise in writing.

Alterations permitted:

9. INSURANCE

9.1 Lessor's Insurance. Lessor shall maintain property insurance covering the building and fixtures owned by Lessor. Lessor's insurance shall not be construed to cover Lessee's personal property.

9.2 Lessee's Insurance. Lessee shall maintain liability insurance with limits of not less than $ per occurrence and property insurance for Lessee's personal property.

10. INDEMNITY

Lessee shall indemnify, defend and hold harmless Lessor, its agents and employees from and against all claims, liabilities, damages and expenses arising from Lessee's use or occupancy of the Premises, except to the extent caused by Lessor's gross negligence or willful misconduct.

11. DEFAULT; REMEDIES

If Lessee fails to pay Rent or otherwise breaches any material term of this Agreement, Lessor may pursue all remedies available at law or in equity, including termination of this Lease, recovery of possession, damages and recovery of attorneys' fees and costs incurred in enforcing this Agreement.

12. ASSIGNMENT AND SUBLETTING

Lessee shall not assign this Lease or sublet the Premises in whole or in part without Lessor's prior written consent, which shall not be unreasonably withheld. Any assignment or subletting without consent shall be void and constitute a material breach.

13. INSPECTION

Lessor or Lessor's agents may enter the Premises during reasonable hours upon reasonable notice to inspect, make repairs, or show the Premises to prospective purchasers or tenants, except in emergency situations where notice is not required.

14. NOTICES

All notices required or permitted under this Agreement shall be in writing and shall be deemed delivered when personally delivered, sent by nationally recognized overnight courier, or sent by certified mail, return receipt requested, to the addresses set forth below or to such other address as either party may designate by notice.

15. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of , without regard to its conflicts of law principles.

16. ENTIRE AGREEMENT; SEVERABILITY

16.1 Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior oral and written agreements.

16.2 Severability. If any provision of this Agreement is found to be invalid or unenforceable, such provision shall be modified to the extent necessary to make it enforceable, or if modification is not possible, such provision shall be severed and the remainder of the Agreement shall remain in full force and effect.

17. AMENDMENTS; WAIVER; COUNTERPARTS

No amendment, modification or waiver of any provision of this Agreement shall be effective unless in writing and signed by both parties. No waiver of any breach shall constitute a waiver of any subsequent breach. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.

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