AI Generated American Commercial Lease Agreement
Commercial Lease Agreement
1. Parties
Identifies the landlord and tenant, including legal names, entity types, formation jurisdictions, and contact information.
2. Recitals
Provides background facts and intentions of the parties leading to the execution of the lease.
3. Definitions
Lists and defines key terms used throughout the lease for clarity and consistency.
4. Premises
Describes the leased space, building, project, and any appurtenant areas included in the lease.
5. Lease Term and Commencement
Sets the lease duration, commencement date, expiration date, and any conditions precedent.
6. Base Rent
States the fixed rent amount, payment schedule, and escalation provisions.
7. Additional Rent and Operating Expenses
Details tenant’s obligation to pay CAM charges, insurance, taxes, utilities, and other pass-through costs.
8. Security Deposit
Specifies the deposit amount, conditions for its use, replenishment, and return.
9. Use of Premises
Defines the permitted use, prohibited activities, and exclusivity or radius restrictions.
10. Compliance with Laws
Requires adherence to all applicable federal, state, and local laws, codes, and regulations.
11. Condition of Premises and Acceptance
Sets forth the condition at delivery, any landlord work, tenant inspection rights, and acceptance process.
12. Alterations and Improvements
Regulates tenant construction, approvals, ownership of improvements, and restoration obligations.
13. Maintenance and Repairs
Allocates responsibilities for routine maintenance, repairs, and replacements between landlord and tenant.
14. Utilities and Services
Describes utility services, metering, allocation of costs, and landlord service obligations.
15. Insurance
Requires specified insurance coverages, policy limits, additional insured status, and waiver of subrogation.
16. Indemnification
Sets forth each party’s obligation to indemnify, defend, and hold the other harmless from claims and liabilities.
17. Damage and Destruction (Casualty)
Addresses repair, restoration, rent abatement, and termination rights following fire or other casualty.
18. Condemnation
Provides procedures and rights if the premises are taken by eminent domain.
19. Assignment and Subletting
Governs tenant’s ability to transfer its interest, landlord consent standards, and profit-sharing.
20. Default
Defines events of default, notice and cure periods.
21. Landlord Remedies
Lists remedies available to landlord upon tenant default, including termination, eviction, and damages.
22. Tenant Remedies
Specifies limited remedies available to tenant upon landlord default.
23. Landlord Access and Entry
Grants landlord rights to enter the premises for inspections, repairs, or showing to prospective parties.
24. Quiet Enjoyment
Guarantees tenant’s right to peaceful possession so long as it is not in default.
25. Subordination, Non-Disturbance, and Attornment (SNDA)
Addresses priority of lender liens, tenant’s attornment obligations, and non-disturbance protections.
26. Estoppel Certificates
Requires execution of certificates confirming lease status upon landlord request.
27. Options to Renew or Extend
Sets terms, notice requirements, and rent for renewal or extension periods.
28. Expansion Rights / Rights of First Refusal or Offer
Details tenant’s rights to lease additional space under specified conditions.
29. Holding Over
Specifies rent and liabilities if tenant remains in possession after lease expiration.
30. Signage
Regulates tenant signage, approvals, maintenance, and removal.
31. Parking
Describes parking rights, spaces allocated, fees, and rules.
32. Common Areas
Defines common areas, landlord control, and tenant use obligations.
33. Rules and Regulations
Incorporates landlord’s building rules and the process for amendments.
34. Environmental Matters and Hazardous Materials
Prohibits unauthorized hazardous substances and allocates cleanup responsibilities.
35. Taxes
Allocates responsibility for real estate taxes, personal property taxes, and special assessments.
36. Americans with Disabilities Act (ADA) Compliance
Addresses responsibility for accessibility compliance for common areas and premises.
37. Brokers
Identifies real estate brokers involved and responsibility for commissions.
38. Financial Statements
Requires tenant to provide financial information upon request for credit evaluation.
39. Landlord’s Lien and Security Interest
Creates a lien on tenant personal property for unpaid rent or other charges.
40. Surrender of Premises
Outlines move-out condition, removal of property, and restoration requirements.
41. Force Majeure
Excuses performance delays due to events beyond the control of the parties.
42. Attorney’s Fees
Provides for recovery of attorneys’ fees and costs by the prevailing party in disputes.
43. Waiver
Clarifies that failure to enforce provisions is not a continuing waiver of rights.
44. Severability
States that invalid provisions do not affect the remainder of the lease.
45. Successors and Assigns
Binds and benefits successors, assigns, and legal representatives of the parties.
46. Governing Law and Venue
Specifies the state law governing the lease and the venue for legal actions.
47. Notices
Details methods of giving formal notice, addresses, and effectiveness.
48. Entire Agreement and Integration
Confirms the lease contains the full understanding and supersedes prior agreements.
49. Amendments
Requires that any changes be in writing and signed by both parties.
50. Interpretation and Headings
Provides rules for construing the lease and states that headings are for convenience only.
51. Time of Essence
Declares that time is of the essence with respect to performance of obligations.
52. Jury Trial Waiver
Each party waives the right to a jury trial in any litigation arising out of the lease.
53. Confidentiality
Requires the parties to keep lease terms and related information confidential.
54. Recordation / Memorandum of Lease
Addresses whether a short-form memorandum of lease may be recorded in public records.
55. Counterparts and Electronic Signatures
Allows execution in multiple counterparts and by electronic or digital signature.
56. Representations and Warranties
Sets forth each party’s authority and capacity to enter into the lease.
57. Exhibits and Addenda
Lists all attachments such as floor plans, work letters, and rules incorporated by reference.
58. Signatures
Signature blocks for duly authorized representatives of landlord and tenant.
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Su Commercial Lease Agreement será formateado según los estándares profesionales, incluyendo encabezados, números de cláusula y un diseño estructurado. No se requiere más edición.
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Compliance with español/a Law
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¿Qué es un Commercial Lease Agreement?
A Commercial Lease Agreement is a legally binding contract between a landlord and a business tenant. It outlines the terms and conditions of renting a commercial property, including the purpose of the lease, the duration, rent amount, and responsibilities of both parties. This agreement serves to protect both tenant and landlord interests by establishing clear guidelines and expectations, thereby minimizing potential disputes. Our AI-powered platform ensures your American Commercial Lease Agreement meets legal standards and suits your unique business requirements efficiently.
Legislación de Cumplimiento
Your document will be checked for compliance against the following legislation and regulations:
•
Landlord and Tenant Act 1954
•
Property Misdescriptions Act 1991
•
Commercial Rent (Coronavirus) Act 2022
•
The Regulatory Reform (Business Tenancies) (England and Wales) Order 2003
•
Landlord and Tenant (Covenants) Act 1995
•
Law of Property Act 1925
•
Control of Asbestos Regulations 2012
•
Fire Safety Regulations 2020
•
Health and Safety at Work etc. Act 1974
•
The Business Tenancies (Notice) Regulations 2004
Preguntas Frecuentes
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