Lease business property to a retailer: Retail Space Lease

 

Retail Space Lease

 

 

This Lease Agreement (this "Lease") is dated , by and between ("Landlord"), and ("Tenant"). The parties agree as follows:

 

RETAIL SPACE. Landlord, in consideration of the lease payments provided in this Lease, leases to Tenant (the "Retail Space") located at , , .

 

TERM. The lease term will begin on and will terminate on .

 

LEASE PAYMENTS. Tenant shall pay to Landlord Lease payments shall be made to the Landlord at , , , which address may be changed from time to time by the Landlord.

 

POSSESSION. Tenant shall be entitled to possession on the first day of the term of this Lease, and shall yield possession to Landlord on the last day of the term of this Lease, unless otherwise agreed by both parties in writing. At the expiration of the term, Tenant shall remove its goods and effects and peaceably yield up the Retail Space to Landlord in as good a condition as when delivered to Tenant, ordinary wear and tear excepted.

 

USE OF RETAIL SPACE. Tenant may use the Retail Space only for the purpose of operating a business open to the public for the sale of goods or services. The Retail Space may be used for any other purpose only with the prior written consent of Landlord, which shall not be unreasonably withheld. Tenant shall notify Landlord of any anticipated extended absence from the Retail Space not later than the first day of the extended absence.

 

PROPERTY INSURANCE. Landlord shall be named as an additional insured in such policies. Tenant shall deliver appropriate evidence to Landlord as proof that adequate insurance is in force issued by companies reasonably satisfactory to Landlord. Landlord shall receive advance written notice from the insurer prior to any termination of such insurance policies. Tenant shall also maintain any other insurance which Landlord may reasonably require for the protection of Landlord's interest in the Retail Space. Tenant is responsible for maintaining casualty insurance on its own property.

 

PEST CONTROL. Tenant, at its sole expense, shall engage exterminators to control vermin and pests on a regular basis.

 

JANITORIAL SERVICE. The Tenant shall provide regular janitorial service to the Leased Retail Space at its sole expense.

 

FREIGHT HANDLING. Tenant shall not permit the use of any forklift truck, tow truck or any other mechanically powered machine or equipment for handling freight in the Retail Space (except in delivery areas, service courts and service corridors). All equipment and devices hauling freight in the Retail Space other than in the said excepted areas shall be propelled by hand and shall be provided with rubber tired wheels. No freight shall be hauled into or through the Retail Space or any connecting buildings.

 

FLOOR LOADS. Tenant shall not place a load upon any floor of the Retail Space which exceeds the floor load per square foot area which such floor was designed to carry.

 

COVENANT AGAINST WASTE. Tenant agrees that Tenant will not commit waste in or upon the Retail Space or any portion thereof. The Tenant shall be responsible for the ventilation and cleanliness of the Retail Space and for keeping the waste sewerage lines free from grease stoppages and other blockages.

Landlord shall pay all real estate taxes and assessments for the Retail Space. Tenant shall pay all real estate taxes and assessments which are assessed against the Retail Space during the time of this Lease. Accordingly, Tenant shall pay all real property or real estate taxes, assessments, license fees, and other impositions, whether general, special, ordinary, or extraordinary, and of every kind and nature, which may be separately levied, assessed or imposed upon or with respect to the Premises. On demand by Landlord, Tenant shall furnish Landlord with satisfactory evidence of such payments. Landlord may, at its election, pay such taxes, assessments, license fees, and/or other charges and Landlord shall receive immediate reimbursement of the amounts so paid.Landlord Tenant Accordingly, Tenant shall pay before delinquency all taxes, assessments, license fees, and other charges that are levied or assessed against, or based upon the value of, Tenants personal property installed or located in or on the Premises including without limitation trade fixtures, furnishings, equipment, and inventory (collectively, Tenants Personal Property). On demand by Landlord, Tenant shall furnish Landlord with satisfactory evidence of such payments. If any such taxes, assessments, license fees, and/or other charges are levied against Landlord or Landlords property, or if the assessed value of the Premises is increased by the inclusion of a value placed on Tenants Personal Property, and if Landlord pays such taxes, assessments, license fees, and/or other charges or any taxes based on the increased caused by Tenants Personal Property, then Tenant, on demand, shall immediately reimburse Landlord for the sum of such taxes, assessments, license fees, and/or other charges so levied against Landlord, or the proportion of taxes resulting from such increase in Landlords assessment. Landlord may, at its election, pay such taxes, assessments, license fees, and/or other charges or such proportion, and receive such reimbursement.

 

DEFAULTS. Tenant shall be in default of this Lease if Tenant fails to fulfill any lease obligation or term by which Tenant is bound. Subject to any governing provisions of law to the contrary, if Tenant fails to cure any financial obligation within days (or any other obligation within days) after written notice of such default is provided by Landlord to Tenant, Landlord may take possession of the Retail Space without further notice (to the extent permitted by law), and without prejudicing Landlord's rights to damages. In the alternative, Landlord may elect to cure any default and the cost of such action shall be added to Tenant's financial obligations under this Lease. Tenant shall pay all costs, damages, and expenses (including reasonable attorney fees and expenses) suffered by Landlord by reason of Tenant's defaults. All sums of money or charges required to be paid by Tenant under this Lease shall be additional rent, whether or not such sums or charges are designated as "additional rent". The rights provided by this paragraph are cumulative in nature and are in addition to any other rights afforded by law.

 

CUMULATIVE RIGHTS. The rights of the parties under this Lease are cumulative, and shall not be construed as exclusive unless otherwise required by law.

 

CONSTRUCTION ON ADJACENT PREMISES. If any excavation or other building operation shall be authorized or undertaken on any premises adjoining or above or below the Retail Space or on any other premises in the Shopping Center, Tenant shall permit Landlord, or the adjoining owner, and their respective agents, employees, licensees and contractors, to enter the Retail Space and to shore the foundations and/or wall thereof, and to erect scaffolding and/or protective barricades around and about the Retail Space (but not so as to preclude entry thereto) and to do any act or thing necessary for the safety or preservation of the Retail Space. Tenant's obligations under this Lease shall not be affected by any such construction or excavation work, shoring-up, scaffolding or barricading. Landlord shall not be liable in any such case for any inconvenience, disturbance, loss of business or any other annoyance arising from any such construction, excavation, shoring-up, scaffolding or barricades, but Landlord shall use its best efforts to assure that such work will cause as little inconvenience, annoyance and disturbance to Tenant as possible consistent with accepted construction practice in the vicinity and to assure that such work shall be expeditiously completed.

 

RELATIONSHIP OF THE PARTIES. Nothing contained herein shall be deemed or construed by the parties hereto, or any third party, as creating the relationship of principal and agent or of partnership or of joint venture between the parties hereto, it being understood and agreed that neither the method of computation of Payment or Additional Rent nor any other provision contained herein, nor any acts of the parties hereto, shall be deemed to create any relationship between the parties hereto other than the relationship of Landlord and Tenant.

 

GOVERNING LAW. This Lease shall be construed in accordance with the laws of the State of .

 

ENTIRE AGREEMENT/AMENDMENT. This Lease Agreement contains the entire agreement of the parties and there are no other promises, conditions, understandings or other agreements, whether oral or written, relating to the subject matter of this Lease. This Lease may be modified or amended in writing, if the writing is signed by the party obligated under the amendment.

 

SEVERABILITY. If any portion of this Lease shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Lease is invalid or unenforceable, but that by limiting such provision, it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.

 

WAIVER. The failure of either party to enforce any provisions of this Lease shall not be construed as a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Lease.

 

BINDING EFFECT. The provisions of this Lease shall be binding upon and inure to the benefit of both parties and their respective legal representatives, successors and assigns.

 

SIGNATURES AND NOTICE. This Lease shall be signed by the following parties. No notice under this Lease shall be deemed valid unless given or served in writing and forwarded by mail, postage prepaid, addressed to the parties below:

 

LANDLORD:

 

,

 

TENANT:

 

 

Such addresses may be changed from time to time by either party by providing notice as set forth above. Notices mailed in accordance with the above provisions shall be deemed received on the third day after posting.