Balance the needs of the tenant against the needs of the landlord.
Include rephrased terms and all otherwise absent provisions the tenant wants or requires.
Provide an option to renew.
Provide for more reasonable common area and/or maintenance fees based upon use of square footage.
Require a party to make certain improvements to the rental space.
Require landlord to provide a drawn-to-scale layout of the premises.
Give tenant the right to accept an offer to purchase the rented space if the landlord receives another offer and is willing to accept such offer.
Give tenant the right to rent contiguous space if and when it becomes available. Include additional terms related to operating hours, insurance, exclusivity of business, occupancy rate, utilities, etc..
Information & Benefits: The following information and benefits is what distinguishes us from other online providers.
Purpose Often, a Landlord for a commercial office space will give a prospective tenant a very one-sided lease agreement to review. We always suggest (when the client is a tenant), to submit the lease along with an addendum, which works to even the terms of the lease balancing the wants and needs of the tenant against the wants and needs of the Landlord. Please note that each addendum item is ordinarily preceded by the phrase "Regardless of the provisions of section/paragraph,..."
Occupancy Date Occupancy date herein shall mean the date in which Tenant actually commences to do business in the Leased premises.
Notices All notices to Tenant shall be sent via certified mail return receipt requested to its exclusive leasing Agent.
Option to Renew Tenant is granted the option to extend the term of this lease of two consecutive extended terms of five years each, provided (a) Tenant is not in default at time of the exercise of the respective option, (b) Tenant gives notice of its exercise of the respective option at lease 90 days prior to the expiration of the original term or the expiration of the existing term. The extension term shall be upon the same terms, conditions and rentals as provided in this Lease.
Common Area/Maintenance Fees Landlord's common area and/or maintenance expense charges shall not include rent insurance, debt service, depreciation, interest, capital expenditures to the extent paid from reserves previously accrued or otherwise, cost of tenant improvements, leasing commissions and income taxes paid by the Landlord.
Improvements Landlord shall complete the interior improvements of the premises by installing the items required pursuant to Exhibit " ". The entire cost of the improvements shall be paid by Landlord. Tenant shall only be required to accept the premises and occupy same as of the first day of the month following completion of the improvements and the issuance of a certificate of occupancy by appropriate governmental agency.
Layout Plan The parties agree that attached and made part of this Lease is the Tenant's typical layout plan, Exhibit " ". Landlord agrees to construct the improvements pursuant to a similar layout plan to be delivered to Landlord.
Notices Tenant shall provide its own signage and shall be permitted to place the following signs on the premises:
Attorney Fees & Costs The parties agree that if on account of any breach or default by the Tenant or Landlord in its obligations under this lease and Landlord or Tenant shall employ an Attorney at Law to represent, enforce or defend any of the Tenant's or Landlord's rights or remedies hereunder, the non-prevailing party agrees to pay the prevailing party's reasonable attorney's fees at both the trial and appellate level.
Cost of Living Increases Less applicable in times of low inflation. There shall be no cost of living increase during the initial three years of this Lease and thereafter the maximum increase in the annual cost of living adjustment shall not exceed 2% per annum and shall always be calculated upon a base rental amount.
Parking Tenant shall be granted three reserved parking spaces. These three parking spaces shall be those parking spaces nearest to the Tenant's units back door. Landlord shall mark these reserved spaces.
Exclusivity During the term of this Lease and any extension hereunder, there shall be not another service specializing in in the shopping center and Tenant shall have the exclusive right to maintain a in said shopping center as now or hereinafter constituted. The Landlord hereby represents that no present tenant or occupant now uses or is by terms of this Lease or occupancy entitled to use the premises for the purpose of " " .
Right of First Refusal If at any time during the term of this Lease or extension hereunder, Landlord shall receive a bona fide offer from the third person for the purchase of the premises, which offer Landlord shall desire to accept, Landlord shall promptly deliver to Tenant a copy of such offer, and Tenant may, within 30 days thereafter, elect to purchase the premises on the same terms as those set forth in such offer.
Rent Abatement Tenant shall be granted a rent concession of six months rental abatement, which shall commence at the time of occupancy.
Insurance Landlord accepts the existing insurance of the tenant as being in conformity with the Lease. Attached and made a part of the Addendum is the Tenant's proof on insurance, marked as Exhibit "E".
Right to Rent Contiguous Vacant Space If, during the term of this Lease or extension or renewal thereof, there shall be other contiguous space in said building which shall be vacant, or if there shall be an immediate prospect of any such vacancy, Landlord shall give Tenant written notice thereof via certified mail. On receipt of such notice, Tenant shall have the option of adding the space in question to the premises hereby leased.
Obstruction Landlord shall never obstruct the view of Tenant's store front relative to the entrance to the shopping center any more than it is currently.
Condemnation & Eminent Domain In the event any of Tenant's premises are taken by condemnation or eminent domain, Tenant shall be entitled to pursue and receive its claim for compensation for diminution in the value of its leasehold, reversion of the leased premises, diminution of Tenant's business, loss of leasehold improvements and costs incurred by Tenant removing and moving its furniture, fixtures and signs.
Consent Whenever the written consent of the Landlord or Tenant is required, such written consent shall not unreasonably withheld.
Business Hours The parties acknowledge that Tenant's normal business hours are 8:30 A.M. to 5:30 P.M., Monday through Saturday.
Operating Fees Based on Square Footage Landlord acknowledges that Tenant's initial proportionate shopping center operating cost charge is $.04 per square foot per annum. Tenant's annual increase in rent shall not exceed 2% per annum. Landlord warrants that at no time shall Tenant be required to pay a sum in excess of any other Tenant's shopping center operating cost charge as computed on a square foot basis.
Air Conditioning & Ventilation Landlord warrants that as of the occupancy date, the entire heating, air conditioning and ventilation system installed in the premises is in first class condition and properly working.
Right to Cancel Tenant shall have the option of canceling this Lease if more than twenty percent of the shopping center is destroyed or if ten percent of the Tenant's unit is destroyed.
Indemnification Landlord agrees to protect, indemnify, save, and keep and hold harmless the Tenant against any of or from all claims, loss, cost, damage, or expenses arising out of or from any environmental damage or contamination caused by the Landlord or any predecessor in interest to the demised premises or contiguous premises of the Tenant.
Occupancy Rate Landlord warrants the continuous occupancy of at least 50% of the usable square footage of the Shopping Center. The failure of Landlord to have at least 50% of the usable space of the shopping center leased or occupied by Tenants conducting their business on an ongoing manner shall give Tenant the right to terminate this Lease.
No Rent if Premises Unrentable Tenant shall never be required to pay rent during any period in which the premises are untenantable.
Local Compliance Landlord warrants that the space leased hereunder shall be delivered to the Tenant in full compliance with all municipal, local, state and federal laws and warrants that the space leased hereunder is zoned for and may be utilized for the purposes contemplated herein.
Nullification of Lease The Lease and Addendum hereto shall be NULL and VOID unless the Landlord executes this Lease and a fully executed copy of the Lease and all Addendums attached thereto are delivered to the Tenant.
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