AI Generated American Commercial Lease Agreement
Commercial Lease Agreement
1. Parties
Identifies the landlord, tenant, and any guarantors with their legal names and contact information.
2. Definitions and Interpretation
Provides meanings for key terms used throughout the lease and explains rules for interpreting the document.
3. Premises and Lease Grant
Describes the leased space, property boundaries, and the landlord’s grant of the right to occupy the premises.
4. Commencement Date and Lease Term
States when the lease begins, the length of the initial term, and any provisions for early occupancy.
5. Renewal and Extension Options
Specifies tenant options to renew or extend the term and the procedures and conditions for doing so.
6. Base Rent
Sets the fixed periodic rent amount, payment schedule, and any scheduled rent escalations.
7. Additional Rent and Operating Expenses
Details tenant’s obligation to pay property taxes, insurance, CAM, and other pass-through expenses.
8. Security Deposit
States the amount, purpose, holding requirements, and conditions for return of the security deposit.
9. Use of Premises
Defines the permitted use, prohibited activities, and compliance with zoning and restrictive covenants.
10. Compliance with Laws and Regulations
Requires tenant to comply with all applicable federal, state, and local laws, codes, and ordinances.
11. Common Area Maintenance (CAM) Charges
Explains calculation, allocation, and payment of common area maintenance costs.
12. Utilities and Services
Allocates responsibility for arranging and paying for electricity, water, gas, trash, and other services.
13. Maintenance and Repairs by Tenant
Lists tenant’s obligations for routine maintenance, janitorial services, and minor repairs.
14. Maintenance and Repairs by Landlord
Lists landlord’s obligations for structural repairs, roof, HVAC replacement, and common areas.
15. Alterations and Improvements
Governs tenant’s right to make changes, required approvals, and ownership of improvements at lease end.
16. Signs and Advertising
Regulates installation, size, design, maintenance, and removal of tenant signage.
17. Access and Inspection Rights
Grants landlord the right to enter the premises for inspections, repairs, or showings under specified conditions.
18. Subordination, Non-Disturbance, and Attornment
Addresses the lease’s relationship to mortgages, lender protections, and tenant protections in foreclosure.
19. Assignment and Subletting
Sets conditions under which the tenant may assign the lease or sublet the premises.
20. Insurance Requirements
Specifies types and minimum amounts of insurance each party must maintain and evidence requirements.
21. Indemnification and Liability
Requires parties to indemnify each other for certain claims and allocates risk of loss.
22. Damage or Destruction (Casualty)
Covers repair obligations, rent abatement, and termination rights following fire or other casualty.
23. Condemnation / Eminent Domain
Explains rights and obligations if the premises are taken by governmental authority.
24. Default by Tenant
Defines events constituting tenant default and required notices and cure periods.
25. Default by Landlord
Defines events constituting landlord default and tenant remedies.
26. Remedies
Lists remedies available to the non-defaulting party, including eviction, damages, and specific performance.
27. Termination and Early Termination Options
Explains circumstances and procedures for ending the lease prior to expiration.
28. Surrender of Premises
Sets requirements for condition of premises and removal of property at lease end.
29. Holding Over
Specifies rent and terms if tenant remains in possession after lease expiration without renewal.
30. Estoppel Certificates
Obligates parties to confirm lease status to lenders or purchasers upon request.
31. Quiet Enjoyment
Grants tenant the right to peaceful possession so long as lease terms are met.
32. Environmental Matters and Hazardous Materials
Regulates use, storage, and disposal of hazardous substances and establishes environmental compliance obligations.
33. Taxes and Assessments
Allocates responsibility for real estate taxes, special assessments, and personal property taxes.
34. Rules and Regulations
References landlord’s building rules that govern tenant conduct and use of common areas.
35. Parking Rights
Details quantity, location, fees, and rules for tenant parking spaces.
36. Roof, Structural Components, and Common Areas
Addresses maintenance, repair, and access rights related to structural elements and shared spaces.
37. Landlord’s Right of Entry
Provides additional entry rights for emergencies, repairs, or compliance checks.
38. Brokers and Agency Disclosure
Identifies brokers involved and allocates responsibility for commissions.
39. Notices
Specifies methods, addresses, and effective dates for formal communications between parties.
40. Governing Law and Jurisdiction
States which state’s law governs the lease and where disputes will be litigated.
41. Attorneys’ Fees and Costs
Allocates responsibility for legal fees incurred in enforcing the lease.
42. Waiver of Jury Trial and Other Waivers
Contains mutual waivers of jury trial and other legal rights or defenses.
43. Severability
Provides that invalid provisions will not affect the remainder of the lease.
44. Entire Agreement and Integration
States that the lease constitutes the complete agreement, superseding prior discussions.
45. Amendments and Modifications
Requires that changes to the lease be in writing and signed by both parties.
46. Successors and Assigns
Binds and benefits the parties’ legal successors and permitted assigns.
47. Force Majeure
Excuses performance delays caused by events beyond the parties’ control.
48. Security and Safety Measures
Addresses responsibility for security systems, safety protocols, and crime prevention.
49. Financial Statements and Reporting
Requires tenant to provide financial information to landlord upon request.
50. Confidentiality
Obligates parties to keep lease terms and proprietary information confidential.
51. Guaranty
Sets out terms of any guarantor’s obligations and continuing liability.
52. Landlord’s Lien and Security Interest
Grants landlord a lien on tenant’s personal property to secure rent and other obligations.
53. Mechanic’s Liens
Requires tenant to protect the property from liens arising from tenant improvements.
54. Option to Purchase
Provides tenant with a right to purchase the property under specified terms.
55. Right of First Refusal or First Offer
Gives tenant priority to lease or buy additional space or the property if it becomes available.
56. Americans with Disabilities Act (ADA) Compliance
Allocates responsibility for ensuring premises meet ADA accessibility requirements.
57. Hazardous Weather and Disaster Preparedness
Addresses responsibilities and procedures related to hurricanes, floods, earthquakes, and other disasters.
58. Personal Property and Trade Fixtures
Defines ownership and removal rights concerning tenant’s personal property and trade fixtures.
59. Exhibits and Attachments List
Enumerates all schedules, floor plans, guaranties, rules, and other documents incorporated by reference.
60. Signatures and Execution
Contains signature blocks, dates, and notarization (if required) for the parties to execute the lease.
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¿Qué es un Commercial Lease Agreement?
A Commercial Lease Agreement is a legally binding document that outlines the terms and conditions for renting office space in the United States. It serves as a formal agreement between landlords and tenants, detailing important aspects such as rent, lease duration, property maintenance responsibilities, and tenant rights. Our AI-powered solution simplifies the process, ensuring compliance with state-specific regulations while providing a customizable experience to suit both landlords and tenants.
Legislación de Cumplimiento
Your document will be checked for compliance against the following legislation and regulations:
•
Landlord and Tenant Act 1954
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Landlord and Tenant (Covenants) Act 1995
•
Tenancy (Commercial Rents) (Coronavirus) Act 2021
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Dilapidations Protocol
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Real Estate Management and the Law of Property (Dispute Resolutions) Act
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Regulatory Reform (Business Tenancies) (England and Wales) Order 2003
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Commercial Rent Arrears Recovery (CRAR)
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Control of Asbestos Regulations 2012
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Health and Safety at Work etc. Act 1974
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