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on this site. If you do not agree to the above terms, please do not proceed.
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points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
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LEASE - BUSINESS PROPERTY
THIS LEASE AGREEMENT, executed in duplicate, made and entered
into this _______ day of _________, 200_, by and between (landlord’s name)______________________as
Lessor whose address for the purpose of this lease is _____________________________________
and (name)_____________________ as Lessee
1. PREMISES AND TERM. The Lessor, in consideration of the
rents herein reserved and of the agreements and conditions herein contained, on
the part of the Lessee to be kept and performed, leases unto the Lessee and
Lessee hereby rents and leases from Lessor, according to the terms and
provisions herein, the following described real estate, situated in _____________ County, (State)___________, to wit:
Suite(s) _____________ (street
address)_____________________________________
as outlined in red in Exhibit A attached
Square footage: Exclusive = ________ m/l / Common =
_______ m/l / Total = ________ m/l
With the improvement thereon and all right, easements and
appurtenances thereto belonging, which, more particularly, includes the space
and premises as built.
2. LESSOR’S OBLIGATIONS.
Provide door way between Suite ____ and Suite _____.
Construct demising wall within Suite ______. Work will take place after Lessee
moves into space and be completed no later than(date)______________________.
3. TERM OF LEASE. The term of the lease shall be:
From (date)___________ to (date)__________.
4. OPTION TO RENEW. Lessee shall have the option to renew
the lease as follows: Lessee shall have the option to renew the lease for one
period as follows: (date)_______________ to (date)_________________ with
monthly rent of $__________________ per month.
Options to renew to be in writing a minimum of ___ days prior
to the expiration of the prior lease term.
5. RENTAL AND CERTAIN OTHER CHARGES. Lessee agrees to
pay to Lessor as rental for the period:
$ __________per month per month in advance. The first rent
payment shall become due on first day of each month. The monthly rent shall be
paid in advance on the first day of each month, during the term of this lease.
The rent and other monthly charges (see below) shall be paid by Lessee on a
timely basis without offset or deduction. Any claims by Lessee shall not
entitle Lessee to withhold rent or other monthly charges.
Security deposit waived.
6. IN ADDITION TO THE MONTHLY RENT LESSEE SHALL ALSO PAY:
A. 100% of Lessee’s telephone, cable, internet.
B. 100% of janitorial and light bulb replacement for the
exclusive space.
C. $___________ per month for the cost of common area
janitorial, snow removal, parking lot maintenance, landscape maintenance,
building insurance, property taxes, exterior and common area maintenance
including mechanical systems. On an annual basis this charge may be adjusted
based on actual costs of the qualified items determined from the previous years
costs, but shall not increase or decrease more than ____% from the previous
year. This charge to be paid with the monthly rental, due on the first of each
month. Lessor represents and agrees that the monthly payment for the itemized
costs stated in this paragraph and in paragraph 6D are Lessee's share of these
costs based upon the proportion that the Leased Premises bears to the total
rentable building space.
D. _______% of the total cost of gas, electric, water,
sewer, trash for 2094 185th Street, Fairfield, Iowa, such percentage of total
cost not to exceed $__________ per month. This charge to be billed every three
(3) months and to be payable within 15 days of date of billing.
E. Once every six months, on reasonable notice and during
regular business hours, Lessee, or its authorized representative, shall have
the right to inspect and copy the books of account, records and other relevant
documentation of Lessor insofar as they relate to expenses stated in section 6C
and 6D in order to verify the accuracy of Lessee’s portion of these expenses.
7. DELINQUENT PAYMENTS. Lessee will have a three day grace
period for monthly rent and common charges. Starting on the fourth (4th) day
Lessee will be charged a late payment in the amount of $10 per day for
delinquent rent payment and common monthly and quarterly payments until payment
is received.
8. POSSESSION. Lessee shall be entitled to possession on
(date)_________________. In the event the premises are not ready for occupancy
by (date)________________ the beginning date of the lease will be extended
until the later of, (date)________________ or the date the premises are ready
for occupancy and Lessee shall not be charged rent or common charges until
occupancy is provided. Lessee shall yield possession to the Lessor at the time
and date of the close of this lease term, except as herein otherwise expressly
provided.
9. USE OF PREMISES. Lessee takes the leased premises in
their present condition. Lessee covenants and agrees during the term of this
lease to use and to occupy the leased premises only for office space. Lessee
agrees that the premises shall be a non-smoking building and Lessee will
enforce this condition with respect to all agents, employees and invitees.
Lessee further covenants and agrees to the use restrictions set forth in the
Miscellaneous Section (Section 26) of this lease, which are required under the
Lessor’s deed affecting the property. Lessee shall not allow the premises to
be used for the storage, use treatment, manufacture or sale of “Hazardous
Material.” Hazardous Material means any hazardous or toxic substance, material
or waste which is or becomes regulated by, or is dealt with, in any
“environmental requirement.” Lessee acknowledges that Lessor may incur costs
for complying with laws relating to Hazardous Material, or otherwise in connection
with Hazardous Material. Lessee agrees that the cost incurred by Lessor with
respect to the building for complying with laws relating to Hazardous Material
shall be paid by Lessee, if Lessee’s use or storage of Hazardous Material on
the
premises is the cause of such liability. Environmental
requirements, as set forth above, means any laws, rules, regulations, guidance
documents, judgments, decrees, orders, and other restrictions and requirements
now or hereafter in effect of any governmental authority relating to the
regulation or protection of human health and safety, natural resources,
conservation, the environment or to any Hazardous Material.
10. QUIET ENJOYMENT. Lessor covenants that its estate in
said premises is fee simple, subject to Section 26 E, below. The Lessee on
paying the rent herein reserved and performing all the agreements by the Lessee
to be performed as provided in this lease, shall and may peaceably have, hold
and enjoy the demised premises for the term of this lease free from
molestation, eviction or disturbance by the Lessor or any other persons or
legal entity whatsoever, subject to Section 13, below. The property is located
in a commercial area of the county and may be subject to traffic or other
common noises that arise from such commercial location and Lessor shall not be
liable for such disturbances.
11. CARE AND MAINTENANCE OF PREMISES.
(a) LESSOR’S DUTY OF CARE AND MAINTENANCE. Lessor will keep
the roof, structural part of the floor, walls, plumbing system, electrical
system, HVAC system, parking lot, landscaping and common inside areas of the
building, and other parts of building in good repair.
(b) LESSEE’S DUTY OF CARE AND MAINTENANCE. Lessee shall
after taking possession of said premises and until the termination of this
lease and the actual removal from the premises, at its own expense, care for
and maintain said premises in a reasonably safe and serviceable condition,
except for components state as
‘LESSOR’S DUTY OF CARE AND MAINTENANCE’ IN 11 (a). Lessor
will not permit or allow said premises to be damaged or depreciated in value by
any act of negligence of the Lessee, it agents or employees. Without limiting
the generality of the foregoing, Lessee will make necessary repairs to the
exclusive space, excluding components listed in 11 (a). The Lessee agrees to
maintain adequate heat to prevent freezing of pipes, if and only if the other
terms of this lease fix responsibility for heating upon the Lessee. The
Lessee shall pay a proportionate share of the cost of items stated in 11(a)
described as part of Lessee’s obligation in 6C. Lessee to pay only its
proportionate share of such expenses described in 6C along with other Lessees
of the building, except as to the acts and omissions of Lessee and its
employees, agents and invitees. Lessor shall be responsible for causing the
repairs and maintenance to occur. Lessor will provide dumpsters or other
suitable means of trash disposal adjacent to the building, and Lessee’s
responsibility will be limited to removing its trash and placing it in
dumpsters provided by Lessor. Lessee shall pay its proportionate share of
trash removal service as part of the obligation and fee in 6D. Lessee shall
use chair mats under all desks – chairs – workstations and all areas subject to
carpet wear and tear from office equipment or furniture. Lessee shall make no
structural alterations or improvements without the prior written approval of
the Lessor.
(c) Lessee will make no unlawful use of said leased premises
and agrees to comply with all valid regulations of the Board of Health, City of
County Ordinances or applicable municipality, the laws of the State of Iowa and
the Federal government, but this provision shall not be construed as creating
any duty by Lessee to members of the general public and shall not create any
Lessee obligations for noncompliance conditions for the Leased Premises that
preexist the beginning of the lease. If Lessee, by the terms of this lease is
leasing premises on the ground floor, it will not allow trash of any kind to
accumulate on said premises in the halls, if any, or the alley or yard in
front, side or rear thereof, and it will remove same from the
premises at its own expense.
12. UTILITIES AND SERVICES. Lessee, during the term of
this lease, shall pay, before delinquency, its proportionate share of all
charges for use of gas and electric as indicated in 6D. Lessee’s proportionate
share of water, sewer and trash are charged as part of the monthly payment
indicated in 6D. Lessee is responsible for cost of telephone, internet and
television for use in Lessee’s exclusive space.
12 (a) JANITOR SERVICE. Janitorial service for the common
areas including Brahmastan, hallways and restrooms will be provided by Lessor
under 11(a) and included in charges under 6C.
13. SURRENDER OF PREMISES AT END OF TERM—REMOVAL OF
FIXTURES.
(a) Lessee agrees that upon the termination of this lease it
will surrender, yield up and deliver the leased premises in good and clean
condition, except the effects of ordinary wear and tear and depreciation
arising from lapse of time, or damage without fault or liability of Lessee.
(b) Lessee may, at the expiration of the term of this lease,
or renewal or renewals thereof or at a reasonable time thereafter, if Lessee is
not in default hereunder, remove any trade fixtures or equipment which said
Lessee has installed in the leased premises, providing said Lessee repairs any
and all damage caused by removal.
(c) HOLDING OVER. Continued possession, beyond the
expiration date of the term of this lease, by the Lessee (and absent a written
agreement by both parties for an extension of this lease, or for a new lease,
and absent the written consent of the Lessor) shall
constitute a month-to-month extension of this lease at a
rental of 150% of the previous rental for the premises (plus payment of the
Lessee’s share of the other expenses as set forth in this lease). Such holding
over without the Lessor’s consent shall not prejudice the Lessor’s right to bring
an action for the eviction of the Lessee.
14. ASSIGNMENT AND SUBLETTING. Any assignment of this
lease or subletting of the premises or any part thereof, without the Lessor’s
written permission shall, at the option of the Lessor, make the rental for the
balance of the lease term due and payable at once. Such written permission
shall not be unreasonably withheld. No such assignment or subletting by the
Lessee shall relieve the Lessee of the obligations under this lease. In the
event of a default in the lease after any assignment or subletting, the Lessor
may proceed against the Lessee or such assignee or sublessee, or both. Lessor
shall receive 75% of any rent paid by the assignee or sublessee in excess of
the rent hereunder upon any approved sublease or assignment of all or any
portion of the premises and the Lessee shall receive the remainder.
Notwithstanding anything to the contrary, Lessor shall have the right to
terminate this lease and enter into a lease with a proposed sublessee or assignee
of this lease, in Lessor’s discretion.
15. ALL REAL ESTATE TAXES.
(a) All real estate taxes levied or assessed by lawful
authority (but reasonably preserving Lessor’s rights of appeal) against said
real property shall be timely paid by Lessor. Lessee’s monthly payment as
indicated in 6C shall pay Lessee’s portion of property taxes.
(b) INCREASE IN REAL ESTATE TAXES CAUSED BY LESSEE’S
IMPROVEMENTS. If Lessee installs improvements that cause an increase in real
property taxes the Lessee shall be responsible for 100% of the applicable
increase.
(c) PERSONAL PROPERTY TAXES. Lessee agrees to timely pay
all 100% of all taxes, assessments or other public charges levied or assessed
by lawful authority (but reasonably reserving Lessee’s rights of appeal)
against its personal property on the premises, during the term of this lease.
(d) SPECIAL ASSESSMENTS. Special assessments attributed to
improvements installed by Lessee or Lessee’s personal property shall be timely
paid 100% by Lessee.
(e) TAXES IN ARREARS. The parties acknowledge that Iowa
taxes are in arrears one year, but Lessee shall be responsible for taxes
actually assessed during this lease term (even if such taxes are payable by
Lessor at a later date), and such taxes shall be estimated by the parties, with
the help of the County Assessor and collected on a monthly basis during the
term of the lease.
16. INSURANCE.
(a) Charges to Lessee for the commercial building, property
and liability insurance policy obtained by Lessor shall be contained in 6C.
Lessor and Lessee will each keep its respective property interests in the
premises and its liability in regard thereto, and the personal property on the
premises, reasonably insured against hazard and casualties; that is, fire or
water and those items usually covered by extended coverage; and Lessee will
procure and deliver to the Lessor a certification from the respective insurance
companies to that effect. Such insurance shall be made payable to the parties
hereto as their interests may appear, except that the Lessee’s share of such
insurance
proceeds are hereby assigned and made payable to the Lessor to
secure the rent and other obligations of the Lessee.
(b) Lessee will not do or omit the doing of any act which
would violate any insurance, or increase the insurance rates in force upon the
real estate improvements on the premises or upon any personal property of the
Lessee upon which the Lessor by law or by the terms of this lease, has or shall
have a lien. In the event that any improvements caused by Lessee, any personal
property of Lessee’s on the premises or any activity of Lessee on the premises
causes the Lessor’s insurance premium to increase then the Lessee shall be
responsible for 100% of the cost of such increase.
(c) Subrogation rights are not to be waived unless special
provisions attached to this lease.
(d) Lessee further agrees to comply with recommendations of
(state)____________ Insurance Service Bureau and to be liable for and to
promptly pay, as if current rental, any increase in insurance rates on said
premises and on the building of which said premises are a part, due to
increased risks or hazard resulting from Lessee’s use of the premises otherwise
than as herein contemplated and agreed.
(e) INSURANCE PROCEEDS. Lessor shall settle and adjust any
claim against any insurance company under its said policies of insurance for
the premises, and said insurance monies shall be paid to and held by the Lessor
to be used in payment for cost of repairs or restoration of damaged building,
if the destruction is only partial.
17. INDEMNITY AND LIABILITY INSURANCE. Except as to any
negligence of the Lessor, arising out of the roof, structural, mechanical and
common area parts of the building, Lessee will protect, indemnify and save
harmless the Lessor from and against any and all loss,
costs, damage and expenses occasioned by, or arising out of,
any accident or other occurrence causing or inflicting injury and/or damage to
any person or property, happening or done, in, upon or about the leased
premised, or due directly or indirectly to the tenancy, use or occupancy
thereof, or any part thereof by the Lessee or any person claiming through or
under the Lessee. The Lessee further covenants and agrees that it will at its
own expense procure and maintain casualty and liability insurance from a
responsible company or companies authorized to do business in the State of
_________, to provide coverage for a combined single limit for bodily injury
and property damage of $1,000,000 each occurrence and $2,000,000 aggregate,
protecting the Lessor against such claim, damages, costs or expenses on account
of injury to any person or persons, or to any property belonging to any person
or persons, by reason of such casualty, accident or other happening on or about
the demised premises during the term thereof. Lessee will provide certificates
or copies of said policies, naming the Lessor as additional insured. Lessee
will provide for thirty (30) days notice to the Lessor before cancellation of
any insurance. Lessee will deliver to the Lessor a certificate on or before,
the date of the beginning of the term of this lease.
18. FIRE AND CASUALTY. PARTIAL DESTRUCTION OF PREMISES OR
INTERUPTION OF USE
(a) BUSINESS INTERUPTION. Notwithstanding any other provision
of this lease, if for any reason, a condition develops that prevents Lessee
from conducting normal business operations on the Leased Premises, including
without limitation, destruction of premises, in whole or in part, loss of heat
or air conditioning, water leaks, for a period of fourteen (14) days, Lessee,
at its option, may terminate this lease and each party shall be released from
all future obligations hereunder. Lessee paying rental pro rata only to the beginning
date of such condition.
(b) ZONING. Should the zoning ordinance of the city or
county or municipality in which this property is located make it impossible for
the Lessor, using diligent and timely effort to obtain necessary permits and to
repair and/or rebuild so that Lessee is not able to conduct its business on
these premises, then such partial destruction shall be treated as a total
destruction as in the next paragraph provided.
(c) TOTAL DESTRUCTION OF BUSINESS USE. In the event of a destruction
or damage of the leased premised including the parking area (if a parking area
is a part of the subject matter of this lease) so that Lessee is not able to
conduct its business on the premises or the then current legal use for which
the premises are being used and which damages cannot be repaired within
fourteen (14) days this lease may be terminated at the option of either the
Lessor or Lessee. Such termination in such event shall be effected by written
notice of one party to the other, within thirty (30) days after such
determination. Lessee shall surrender possession within ten (10) days after
such notice issues and, each party shall be released from all future
obligations hereunder, Lessee paying rental pro rata only to the date of such
destruction. In the event of such termination of this lease, Lessor at its
option, may rebuild or not, according to its own wishes and needs.
19. CONDEMNATION.
(a) DISPOSITION OF AWARDS. Should the whole or any part of
the demised premises be condemned or taken by a competent authority for any
public or quasi-public use or purpose, each party shall be entitle to retain,
as its own property, any award payable to it. Or in the event that a single
entire award is made on account of the condemnation, each party will then be
entitle to take such proportion of said award as may be fair and reasonable.
(b) DATE OF LEASE TERMINATION. If the whole of the demised
premises shall be so condemned or taken, the Lessor shall not be liable to the
Lessee except and as its rights are preserved in Section 19(a) above.
20. TERMINATION OF LEASE AND DEFAULTS OF LESSEE.
(a) TERMINATION UPON EXPIRATION OR UPON NOTICE OF DEFAULTS.
This lease shall terminate upon expiration of the demised term; or if this
lease expressly and in writing provides for any option or options, and if any
such option is exercised by the Lessee, then this lease will terminate at the
expiration of the option term or terms. Upon default in payment of rental
herein or upon any other default by Lessee in accordance with the terms and
provisions of this lease, this lease may at the option of the Lessor be
canceled and forfeited, PROVIDED, HOWEVER, before any such cancellation and
forfeiture except as provided in 20(b) below, Lessor shall give Lessee a
written notice specifying the default, or defaults, and stating that his lease
will be cancelled and forfeited ten (10) days after the giving of such notice,
in the case of failure to pay rent and/or other charges unless such default, or
defaults, are remedied within such grace period; and 30 days after the giving
of such notice, in the case of defaults other than for the payment of rent;
provided, however, if the nature of the default is other than the payment of
rent or other charges, and such defaults cannot reasonably be cured within such
30-day period, the Lessee shall not be in default provided in commences to cure
the default within such 30-day period and thereafter diligently completes the
cure. Lessee will be liable for all legal fees and expenses incurred by Lessor
in connection with the collection of delinquent rent or other defaults by
Lessee.
(b) BANKRUPTCY OR INVOLVENCY OF LESSOR OR LESSEE. In the
event Lessor or Lessee is adjudicated a bankrupt or in the event of a
judicial sale or other transfer of Lessor or Lessee’s
leasehold interest by reason by any bankruptcy or insolvency proceedings or by
other operation of law, but not by death, and such bankruptcy, judicial sale or
transfer has not been vacated or set aside within ten (10) days from the giving
of notice thereof by Lessor or Lessee to the bankrupt party, then and in any
such events, Lessor or Lessee may, at its option, immediately terminate this
lease, reenter said premises, upon giving of ten (10) days written notice by
Lessor or Lessee, all to the extent permitted by applicable law.
(c) In (a) and (b) above, waiver as to any default shall not
constitute a waiver of any subsequent default or defaults.
(d) Acceptance of keys, advertising and re-renting by the
Lessor upon the Lessee’s default shall be construed only as an effort to
mitigate damages by the Lessor, and not as an agreement to terminate this
lease.
(e) LESSOR’S DEFAULT, BANKRUPTCY OR CHANGE OF OWNERSHIP. In
the event Lessor defaults in any of Lessor’s obligations under this Lease, or
is adjudicated a bankrupt or transfers ownership of the building, Lessee, at
its option may terminate this lease and each party shall be released from all
future obligations hereunder. Lessee paying rental pro rata only to the date
of such termination.
21. RIGHT OF EITHER PARTY TO MAKE GOOD ANY DEFAULT OF THE
OTHER. If default shall be made by either party in the performance of, or
compliance with, any of the terms, covenants or conditions to this lease, and
such default shall have continued for thirty (3) days after written notice
thereof from one party to the other, the person aggrieved, in addition to all
other remedies now or hereafter provided by law, may, but need not, perform
such term, covenant or condition, or make good such default and any amount
advanced shall be repaid
forthwith on demand, together with interest at the rate of 12%
per annum, from date of advance.
22. SIGNS.
(a) The Lessor shall provide common signage for all Lessees
in the interior of the building (lobby and suite location). No other signs are
permitted by Lessee.
(b) Lessor during the last ninety (90) days of this lease, or
extension, shall have the right to maintain in the windows or on the building
or on the premises either or both a ‘For Rent’ or ‘For Sale’ sign and Lessee
will permit, at such time, prospective lessees or buyers to enter and examine
the premises.
23. MECHANIC’S LIENS. Neither the Lessee nor anyone
claiming by, through, or under the Lessee, shall have the right to file or
place any mechanic’s lien or other lien of any kind or character whatsoever,
upon said premises or upon any building or improvement thereon, or upon the
leasehold interest of the Lessee therein, and notice is hereby given that no
contractor, sub-contractor, or anyone else who may furnish any material,
service or labor for any building, improvements, alternation, repairs or any
part thereof, shall at any time be or become entitle to any lien thereon, and for
the further security of the Lessor, the Lessee covenants and agrees to give
actual notice
thereof in advance, to any and all contractors and
sub-contractors who may furnish or agree to furnish any such material, service
or labor.
24. LESSOR’S LIEN AND SECURITY INTEREST. Lessor shall have
in addition to the lien given by law, a security interest as provided by the
Uniform Commercial Code of (state)______________, upon all personal property
and all substitutions therefore, kept and used on said premises by Lessee.
Lessor may proceed at law or in equity with any remedy provided by law or by
this lease for the recovery of rent, or for termination of this lease because
of Lessee’s default in its performance.
25. SUBSTITUTION OF EQUIPMENT, MERCHANDISE,ETC.
(a) The Lessee shall have the right, from time to time,
during the term of this lease, or renewal thereof, to sell or otherwise dispose
of any personal property of the Lessee situated on the said demised premises,
when in the judgment of the Lessee it shall have become obsolete, outworn or
unnecessary in connection with the operating of the business on said premises;
provided, however, that the Lessee shall, in such instance (unless no
substituted article or item is necessary) at its own expense substitute for
such items of personal property so sold or otherwise disposed of, a new or
other item in substitution thereof, in like or greater value and adopted to the
affixed operation of the business upon the demised premises.
(b) Nothing herein contained shall be construed as denying to
Lessee the right to dispose of inventoried merchandise in the ordinary course
of the Lessee’s trade or business.
26. RIGHTS CUMULATIVE. The various rights, powers,
options, elections and remedies of either party, provided in this lease, shall
be construed as cumulative and no one of them as exclusive of the others, or
exclusive of any rights, remedies or priorities allowed either party by law,
and shall in no way affect or impair the right of either party to pursue any
other equitable or legal remedy to which either party may be entitled as long
as any default remains in any way unremedied, unsatisfied or undischarged.
27. NOTICES AND DEMANDS. All notices required or
permitted under this lease shall be in writing. Notices as provided for in
this lease shall be given to the respective parties hereto at the respective
addresses designated on page one of this lease unless either party notifies the
other, in writing, of a different address. Notices by mail shall be considered
given under the terms of this lease two (2) days after being sent, addressed as
above designated, postage prepaid, by registered or certified mail, return
receipt requested, by the United States mail and so deposited in a United
States mail box. Notices by personal delivery or by fax shall be deemed to be
given upon delivery as evidenced by a fax long showing transmission, receipt,
or other reasonable evidence.
28. PROVISIONS TO BIND AND BENEFIT SUCCESSORS, ASSIGN,
ETC. Each and every covenant and agreement herein contained shall extend to
and be binding upon the respective successors, heirs, administrators, executors
and assigns of the parties hereto; except that if any part of this lease is
held in joint tenancy, the successor I interest shall be the surviving joint
tenant.
29. CHANGES TO BE IN WRITING. None of the covenants,
provisions, terms or conditions of this lease to be kept or performed by Lessor
or Lessee shall be in any manner modified, waived or abandoned, except by a
written instrument duly signed by the parties and delivered to the Lessor and
Lessee. THIS LEASE CONTAINS THE WHOLE AGREEMENT OF THE PARTIES AND SUPERCEDES
ANY PRIOR MEMORANDUMS OR UNDERSTANDINGS.
30. CONSTRUCTION. Words and phrases herein, including
acknowledgment hereof, shall be construed as in the singular or plural number,
and as masculine, feminine or neuter gender according to the context.
31. MISCELLANEOUS.
A. Lessee will respect any reservation of parking spaces at
the building and shall not park in spaces reserved for other Lessees.
B. The rules, regulations, and policies of the city and
county relative to security and public safety shall apply to the leased
premises.
C. Within 10 days of filing a request in writing by Lessor,
the Lessee shall execute and deliver to Lessor an estoppel certificate (or any
other document that may be reasonably required by any perspective mortgagee or
purchaser of the property or any position thereof) indicating that there are no
defaults in the Lease (or specifying such defaults). Failure of Lessee to
timely execute and deliver such estoppel certificate or other instruments shall
constitute an acknowledgement by lessee that statements included in the
estoppel certificate are true and correct, without exception.
D. This lease shall be subject and subordinate to all
present and future ground or underlying leases of the building, and to the lien
of any mortgage or deed of trust now or hereafter enforced against the
building, and to any renewals, extensions, modifications and
replacements thereof, and to all advances made or hereafter to be made upon the
security of such mortgages or deeds of trust. Lessee agrees that in the event
any proceedings are brought for the foreclosure of any such mortgage or deed of
trust, to attorney, without any deductions or set-offs, to the purchaser or any
successors thereto on any such foreclosure sale or deed in lieu thereof, if
requested to do so by purchaser, and to recognize such purchaser as the Lessor
under this Lease. Lessee shall, within five (5) business days of request by
the Lessor, execute such further instruments or assurances as the Lessor may
reasonably be necessary to confirm the subordination referred to herein.
E. Lessor reserves the right at all reasonable times and
upon reasonable notice (24 hours conclusively deemed to be reasonable) to
Lessee (except in the case of an emergency) to enter the premises to inspect
them, show the premises to prospective purchasers, mortgagees, or Lessee’s,
post notices of non-responsibility, or alter, improve, or repair the premises
or the building as necessary to comply with building codes or other applicable
laws, or for structural alterations, repairs, or improvements.
F. The parties identified as Lessees hereunder shall
jointly or individually have the right to occupy the leased premises and shall
be jointly and severally responsible for all the obligations of the Lessee.
IN WITNESS WHEREOF, the parties hereto have duly executed this
lease in duplicate the day and year first above written.
LESSOR:
LESSEE: (Name)__________________________.
By: ________________________________
(Name)________________________, Authorized
Representative
_______________________________________________________
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Keywords: commercial lease, rental agreement, commercial agreement, business rental contract
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