COMMERCIAL LEASE AGREEMENT
1. THE PARTIES. This Lease Agreement is made and entered into on ______________________, by and between:
The Lessor: ______________________________ with a mailing address of ______________________________, ______________________________, ____________________ ______________________________ (hereinafter referred to as the "Lessor").
AND
The Lessee(s) (hereinafter referred to as the "Lessee"):
______________________________
2. GRANT OF LEASE. Lessor, in consideration of the rents to be paid and the covenants and agreements to be performed and observed by Lessee, does hereby lease to Lessee and Lessee does hereby lease from the Lessor the property described herein (the "Leased Premises") with all of the improvements located thereon.
3. LEASED PREMISES. The Leased Premises is described as follows: ______ square feet of ______________________________ space located at ______________________________, ______________________________, ____________________ ______________________________. Please see attached floorplan.
Additional Details: ______________________________
4. INITIAL TERM. This Lease shall commence on the Commencement Date below, and expire at Midnight on ______________________ (the "Initial Term").
Commencement Date. This Lease shall commence on ______________________ (the "Commencement Date").
OPTION TO EXTEND. Lessee shall have the right to extend this Lease Agreement by giving written notice via certified mail to the Lessor no less than ninety (90) days prior to the expiration of the Initial Term or any subsequent Renewal Period. The Lessee shall have the Renewal Periods set forth below, each of which will continue to abide by the same covenants, conditions and provisions as provided in this Lease Agreement.
The Lessee shall not have any right to extend or renew this Lease Agreement beyond the Initial Term.
5. DETERMINATION OF RENT. Unless otherwise subject to increase as set forth herein, Lessee agrees to pay and Lessor agrees to accept, at such place as Lessor may from time to time direct Lessee by written notice, on or before the ____________________ day of each Payment Period (the "Payment Period") base rent in the amount of ____________________ beginning on the Commencement Date and continuing for the entire term of this Lease, and any option to extend.
In addition to the base rent, the Lessee shall pay ______% of the Lessee's gross sales that exceed ____________________.
Rent Increases. Rent shall increase as follows:
Late Fee. A late fee in the amount of ______% shall be assessed if rent is not postmarked or received by Lessor within ______ days of the Payment Period.
Late Fee. A late fee in the amount of ____________________ shall be assessed if rent is not postmarked or received by Lessor within ______ days of the Payment Period.
6. RENT PAYMENT. Acceptable methods of payment:
– ACH (electronic bank transfer)
– Cash
– Check
– PayPal to the email of: ______________________________
– Zelle to the email or phone number of: ______________________________
– Venmo to the email or username of: ______________________________
– ______________________________
Returned Checks (NSF). If the Lessee attempts to pay Rent with a check that is not deemed valid by a financial institution due to non-sufficient funds, or any other reason for it to be returned, the Lessee will be subject to a fee of ____________________ in addition to any late fee.
SECURITY DEPOSIT. The Lessee has deposited with Lessor the sum of ____________________ as security for Lessee's full and faithful performance of all the terms of this Lease. Such sum shall be held by Lessor in accordance with any applicable state or federal law including, if required, holding the deposit in a separate, interest-bearing savings account. Such sum shall be returned to the Lessee no later than ______ days (or the maximum number of days permitted by law, whichever is less) after the expiration of this Lease, provided that Lessee has fully and faithfully carried out all of its terms. In the event that the property is sold to a third party, Lessor shall have the right to transfer this deposit to the purchaser to be held under the same terms and conditions, and the Lessor shall be released from all liability for its return to Lessee.
SECURITY DEPOSIT. No security deposit is required under this Lease.
7. USE OF LEASED PREMISES. The Lessor is leasing the Premises to the Lessee and the Lessee is hereby agreeing to lease the Premises for any lawful purpose. the following purpose:
______________________________.
Any change in use or purpose of the Premises other than as described above shall be upon prior written consent of Lessor only, otherwise the Lessee will be considered in default of this Lease Agreement. Lessee shall comply with all rules, regulations and laws of any governmental authority with respect to use and occupancy. Lessee shall not conduct or permit to be conducted upon the premises any business or permit any act which is contrary to or in violation of any law, rules or regulations and requirements that may be imposed by any authority or any insurance company with which the premises is insured, nor will the Lessee allow the premises to be used in any way which will invalidate or be in conflict with any insurance policies applicable to the building. In no event shall explosives or extra hazardous materials be taken onto or retained on the premises. Furthermore, Lessee shall not install or use any equipment that will cause undue interference with the peaceable and quiet enjoyment of the premises by other Lessees of the building.
EXCLUSIVE USE. Lessor shall not lease any other space available for lease on this property to any tenant that is engaged in the same or similar business as the Lessee without Lessee's written consent.
OPERATING EXPENSES. The Lessor and the Lessee agree to share the costs and obligations resulting from and required for normal operation of the Leased Premises to be divided as follows:
OPERATING EXPENSES. This is a Triple-Net (NNN) Lease. In addition to the base rent, the Lessee shall be responsible for its pro-rata share of all property expenses, including real estate taxes, insurance, common area maintenance, and all other operating costs attributable to the Leased Premises.
OPERATING EXPENSES. This is a Gross Lease. The Lessee shall be responsible only for the base rent, and the Lessor shall be responsible for all property expenses, including real estate taxes, insurance, and common area maintenance.
Common Area Maintenance – ____________________.
The Lessee shall be responsible for: ______________________________. The Lessor shall be responsible for all other costs, obligations and expenses resulting from common area maintenance.
Taxes – ____________________.
Lessee agrees to pay, during the term of this Lease, the real estate taxes and special taxes and assessments (collectively, the "taxes") attributable to the Premises and accruing during such term. Taxes will be paid by Lessee to Lessor on a monthly basis, based on one-twelfth (1/12) of the estimated annual tax liability. Any difference between estimated tax liability and actual tax liability paid by Lessee for each year will be reconciled within 30 days of the end of the year. Any deficits will be paid by Lessee to Lessor. Any excesses will be repaid by Lessor to Lessee. No interest or penalty may be assessed to either party for the difference. Taxes for any fractional calendar year during the term hereof shall be prorated. In the event Lessee does not make any tax payment required hereunder, Lessee shall be in default of this Lease.
______________________________
Casualty Insurance – ____________________.
The Lessor may insure the property and Leased Premises to a reasonable coverage consistent with industry standards for Casualty Insurance. Lessor shall deliver a copy of all insurance bills to Lessee and Lessee shall reimburse Lessor within 30 days of their receipt.
Liability Insurance – ____________________.
The Lessor may insure the property and Leased Premises to a reasonable coverage consistent with industry standards for Liability Insurance. Lessor shall deliver a copy of all insurance bills to Lessee and Lessee shall reimburse Lessor within 30 days of their receipt.
In the event that Lessee fails to obtain insurance required hereunder and fails to maintain the same in force continuously during the term, Lessor may, at Lessor's discretion, obtain insurance sufficient to satisfy this agreement and charge the Lessee for same as additional rent. Furthermore, Lessee agrees not to keep upon the premises any articles or goods which may be prohibited by the standard form of fire insurance policy, and in the event the insurance rates applicable to fire and extended coverage covering the premises are increased as a result of any use of the premises by Lessee, then Lessee shall pay to Lessor, upon demand, such increase in insurance premium, or Lessee's proportionate share of any such increase, caused by said use.
HVAC – ____________________.
Lessor will provide or engage a reputable and experienced firm for the purpose of periodically inspecting and maintaining the heating, ventilating, and air conditioning equipment located on the Premises, hereinafter referred to as the "HVAC System." In addition, the Lessor shall be responsible for all costs associated with the everyday upkeep and maintenance of said HVAC System.
8. UTILITIES. The Lessor shall be responsible for establishing, maintaining, and paying for the following utilities: ______________________________.
The Lessee shall be responsible for all other utilities not otherwise specified above.
TENANT'S BUSINESS LIABILITY INSURANCE. The Lessee shall provide and maintain personal liability and property damage insurance for its business. The Lessee will designate the Lessor as an "additional insured". The Lessee will provide the Lessor with a copy of such insurance certification or policy prior to taking possession of the leased premises. The insurance must, at minimum, protect and indemnify the Lessor of any injury, death, or property damage to occur on the property, or resulting from Lessee's business operations, to the limits of ____________________.
9. UPKEEP. The Lessor and Lessee shall have shared responsibilities in the repair and maintenance of the Leased Premises. The Leased Premises shall be properly maintained and otherwise kept in a good, safe and clean condition with particular attention paid to items which need immediate attention including but not limited to, the replacement of light bulbs, the normal repair and cleaning of windows, cleaning of bathrooms, clearing of toilets; all rubbish and hazardous wastes shall properly and promptly be removed and properly disposed of according to all local, state or federal laws, rules, regulations or ordinances.
The Lessee shall have the following responsibilities: ______________________________.
The Lessor shall be responsible for all remaining maintenance needs.
In the event the Premises is damaged as a result of any neglect or negligence of Lessee, Lessee's employees, agents, business invitees, or any independent contractors serving the Lessee or in any way as a result of Lessee's use and occupancy of the premises, then the Lessee shall be primarily responsible for seeing that the proper claims are placed with the Lessee's insurance company, or the damaging party's insurance company, and shall furthermore be responsible for seeing that the building is safeguarded with respect to said damage and that all proper notices with respect to said damage are made in a timely fashion, including notice to the Lessor, and the party or parties causing said damage.
FURNISHINGS. The Lessor will provide the following furnishings to the Lessee upon the start of this Lease's Initial Term: ______________________________.
PARKING. Parking shall be provided to the Lessee in a ____________________ manner provided ____________________ located at ______________________________. There shall be a total number of ______ parking spaces provided to the Lessee.
There shall be a fee charged to the Lessee for the use of the Parking Space(s) in the amount of ____________________ for the use of ____________________ of the available Parking, to be paid on a ____________________ basis.
RIGHT OF FIRST REFUSAL. Lessor grants to Lessee throughout the Initial Term, along with any renewal periods, a right of first refusal to purchase the Premises pursuant to any offer received and accepted by the Lessor. Lessor must notify Lessee in writing and offer to purchase all or part of the Premises, the Lessee having ______ calendar days after receipt of the notice to exercise its right of first refusal and notify Lessor of its decision whether or not to purchase the Premises under the same or similar terms under the offer accepted by the Lessor.
If financing is needed by the Lessee, the Lessee will be allowed the time-frame as stated in the offer accepted by the Lessor. If the offer accepted by the Lessor is not contingent on financing, then the Lessee shall be granted a maximum of 30 days to secure financing for the purchase of the Premises.
OPTION TO PURCHASE. The Lessee shall have the right to purchase the Premises described herein for ____________________ at any time during the course of the Initial Term, along with any renewal periods, by providing written notice to the Lessor and along with a deposit of ____________________ that is only refundable to the Lessee if the Lessor and Lessee cannot agree, in "good faith", to a signed Purchase and Sale Agreement. This Option to Purchase may not be assigned or transferred.
If the right to purchase the Premises is exercised by the Lessee, this Lease along with the Rent paid to the Lessor shall remain separate from any and all deposits, consideration, or payments made to the Lessor in connection with the purchase of the Premises.
Recording. The Lessee shall be withheld from recording this Option to Purchase Agreement unless the Lessee has the written consent of the Lessor.
10. LEASEHOLD IMPROVEMENTS. The Lessee agrees that no leasehold improvements, alterations or changes of any nature (except for those listed on any attached addenda) shall be made to the leasehold Premises or the exterior of the building without first obtaining the consent of the Lessor in writing, which consent shall not be unreasonably withheld, and thereafter, any and all leasehold improvements made to the Premises which become affixed or attached to the leasehold Premises shall remain the property of the Lessor at the expiration or termination of this Lease Agreement. Furthermore, any leasehold improvements shall be made only in accordance with applicable federal, state or local codes, ordinances or regulations, having due regard for the type of construction of the building housing the subject leasehold Premises. If the Lessee makes any improvements to the Premises, the Lessee shall be responsible for payment, except the following: ______________________________.
The Lessor shall be responsible for the following tenant improvements: ______________________________.
Nothing in the Lease shall be construed to authorize the Lessee or any other person acting for the Lessee to encumber the rents of the Premises or the interest of the Lessee in the Premises or any person under and through whom the Lessee has acquired its interest in the Premises with a mechanic's lien or any other type of encumbrance. Under no circumstance shall the Lessee be construed to be the agent, employee or representative of Lessor. In the event a lien is placed against the Premises, through actions of the Lessee, Lessee will promptly pay the same or bond against the same and take steps immediately to have such lien removed. If the Lessee fails to have the Lien removed, the Lessor shall take steps to remove the lien and the Lessee shall pay Lessor for all expenses related to the Lien and removal thereof and shall be in default of this Lease.
11. LICENSES AND PERMITS. A copy of any and all local, state or federal permits acquired by the Lessee which are required for the use of the Premises shall be kept on-site at all times and shall be readily accessible and produced to the Lessor and/or their agents or any local, state, or federal officials upon demand.
SALE OF PROPERTY. In the event of a sale of the Premises the Lessor shall have the right to terminate this Lease Agreement by submitting written notice to the Lessee. Notice shall be submitted at least ______ days in advance.
SALE OF PROPERTY. A sale of the Premises shall not, by itself, give the Lessor the right to terminate this Lease Agreement, and this Lease shall continue in full force and effect notwithstanding any such sale.
SUBLET/ASSIGNMENT. The Lessee may not transfer or assign this Lease, or any right or interest hereunder, or sublet said leased premises or any part thereof without first obtaining the prior written consent and approval of the Lessor.
SUBLET/ASSIGNMENT. The Lessee may sublet or assign this Lease and the leased premises, in whole or in part, without the prior consent of the Lessor.
SUBLET/ASSIGNMENT. The Lessee may not sublet or assign this Lease or the leased premises, in whole or in part, under any circumstances.
12. DAMAGE TO LEASED PREMISES. In the event the building housing the leased premises is destroyed or damaged as a result of any fire or other casualty which is not the result of the intentional acts or neglect of Lessee and which precludes or adversely affects the Lessee's occupancy of the leased premises, then in every such case the rent herein set forth shall be abated or adjusted according to the extent to which the Premises have been rendered unfit for use and occupation by the Lessee and until the demised premises have been put in a condition at the expense of the Lessor, at least to the extent of the value and as nearly as possible to the condition of the premises existing immediately prior to such damage. It is understood, however, in the event of total or substantial destruction to the Premises that in no event shall the Lessor's obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage.
The Lessee shall, during the term of this Lease, and in the renewal thereof, at its sole expense, keep the interior of the leased premises in as good a condition and repair as it is at the date of this Lease, reasonable wear and use excepted. This obligation would include the obligation to replace any plate glass damaged as a result of the neglect or acts of Lessee or Lessee's guests or invitees. Furthermore, the Lessee shall not knowingly commit nor permit to be committed any act or thing contrary to the rules and regulations prescribed from time to time by any federal, state or local authorities and shall expressly not be allowed to keep or maintain any hazardous waste materials or contaminates on the premises. Lessee shall also be responsible for the cost, if any, which would be incurred to bring Lessee's contemplated operation and business activity into compliance with any law or regulation of a federal, state or local authority.
13. HAZARDOUS MATERIALS LAWS. Shall mean any and all federal, state, or local laws, ordinances, rules, decrees, orders, regulations, or court decisions relating to hazardous substances, hazardous materials, hazardous waste, toxic substances, environmental conditions on, under, or about the Premises, the Building, or the Property, or soil and ground water conditions, including, but not limited to, the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA), the Resource Conservation and Recovery Act (RCRA), the Hazardous Materials Transportation Act, any other law or legal requirement concerning hazardous or toxic substances, and any amendments to the foregoing.
14. LESSEE'S DEFAULT AND POSSESSION. In the event that the Lessee fails to pay rent and expenses, or any part thereof, as set forth herein, when due and payable, or is otherwise in default of any other terms of this Lease for a period of more than ______ days, after receiving notice of default, then the parties hereto expressly agree and covenant that the Lessor may declare the Lease terminated and may immediately re-enter said premises and take possession of the same together with any of Lessee's personal property, equipment or fixtures left on the premises which items may be held by the Lessor as security for the Lessee's eventual payment and/or satisfaction of rental defaults or other defaults of Lessee under the Lease. It is further agreed that if the Lessee is in default, the Lessor shall be entitled to take any and all action to protect its interest in the personal property and equipment, to prevent the unauthorized removal of said property or equipment which threatened action would be deemed to constitute irreparable harm and injury to the Lessor in violation of its security interest in said items of personal property. Furthermore, in the event of default, the Lessor may expressly undertake all reasonable preparations and efforts to release the Premises including, but not limited to, the removal of all inventory, equipment or leasehold improvements of the Lessee's, at the Lessee's expense, without the need to first procure an order of any court to do so, although obligated in the interim to undertake reasonable steps and procedures to safeguard the value of Lessee's property, including the storage of the same, under reasonable terms and conditions at Lessee's expense, and, in addition, it is understood that the Lessor may sue the Lessee for any damages or past rents due and owing and may undertake all and additional legal remedies then available.
15. LESSOR'S DEFAULT. The Lessee may send written notice to the Lessor stating duties or obligations that have not been fulfilled under the full performance of this Lease Agreement. If said duties or obligations have not been cured within ______ days from receiving such notice, unless the Lessor needs more time to cure or remedy such issue in accordance with standard industry protocol, then the Lessor shall be in default of this Lease Agreement.
If the Lessor should be in default the Lessee shall have the option to terminate this Lease Agreement and be held harmless against any of its terms or obligations.
DISPUTES. If any dispute should arise in relation to this Lease Agreement the Lessor and Lessee shall first negotiate amongst themselves in "good faith." Afterwards, if the dispute is not resolved then the Lessor and Lessee shall seek mediation in accordance with the laws of the State of ____________________. If the Lessor and Lessee fail to resolve the dispute through mediation then the American Arbitration Association shall be used in accordance with their rules. Lessor and Lessee agree to the binding effect of any ruling or judgment made by the American Arbitration Association.
DISPUTES. If any dispute should arise in relation to this Lease Agreement the Lessor and Lessee shall first negotiate amongst themselves in "good faith." Afterwards, if the dispute is not resolved then the Lessor and Lessee shall seek mediation in accordance with the laws of the State of ____________________. If mediation fails to resolve the dispute, either party may bring the matter before a court of competent jurisdiction.
DISPUTES. Any dispute arising under or in relation to this Lease Agreement shall be resolved exclusively by a court of competent jurisdiction in the State of ____________________.
DISPUTES. ______________________________
16. INDEMNIFICATION. The Lessee hereby covenants and agrees to indemnify, defend and hold the Lessor harmless from any and all claims or liabilities which may arise from any cause whatsoever as a result of Lessee's use and occupancy of the premises, and further shall indemnify the Lessor for any losses which the Lessor may suffer in connection with the Lessee's use and occupancy or care, custody and control of the premises. The Lessee also hereby covenants and agrees to indemnify and hold harmless the Lessor from any and all claims or liabilities which may arise from any latent defects in the subject premises that the Lessor is not aware of at the signing of the lease or at any time during the lease term.
17. BANKRUPTCY – INSOLVENCY. The Lessee agrees that in the event all or a substantial portion of the Lessee's assets are placed in the hands of a receiver or a Trustee, and such status continues for a period of 30 days, or should the Lessee make an assignment for the benefit of creditors or be adjudicated bankrupt; or should the Lessee institute any proceedings under the bankruptcy act or any amendment thereto, then such Lease or interest in and to the leased premises shall not become an asset in any such proceedings and, in such event, and in addition to any and all other remedies of the Lessor hereunder or by law provided, it shall be lawful for the Lessor to declare the term hereof ended and to re-enter the leased land and take possession thereof and all improvements thereon and to remove all persons therefrom and the Lessee shall have no further claim thereon.
18. SUBORDINATION AND ATTORNMENT. Upon request of the Lessor, Lessee will subordinate its rights hereunder to the lien of any mortgage now or hereafter in force against the property or any portion thereof, and to all advances made or hereafter to be made upon the security thereof, and to any ground or underlying lease of the property provided, however, that in such case the holder of such mortgage, or the Lessor under such Lease shall agree that this Lease shall not be divested or in any way affected by foreclosure, or other default proceedings under said mortgage, obligation secured thereby, or Lease, so long as the Lessee shall not be in default under the terms of this Lease. Lessee agrees that this Lease shall remain in full force and effect notwithstanding any such default proceedings under said mortgage or obligation secured thereby.
Lessee shall, in the event of the sale or assignment of Lessor's interest in the building of which the Premises form a part, or in the event of any proceedings brought for the foreclosure of, or in the event of exercise of the power of sale under any mortgage made by Lessor covering the Premises, attorn to the purchaser and recognize such purchaser as Lessor under this Lease.
19. SIGNAGE. Lessee shall not place on any exterior door, wall or window of the premises any sign or advertising matter without Lessor's prior written consent and the approval of the local municipality. Thereafter, Lessee agrees to maintain such sign or advertising matter as first approved by Lessor in good condition and repair. Furthermore, Lessee shall conform to any uniform reasonable sign plan or policy that the Lessor may introduce with respect to the building. Upon vacating the premises, Lessee agrees to remove all signs and to repair all damages caused or resulting from such removal.
20. CONDITION OF PREMISES/INSPECTION BY LESSEE. The Lessee acknowledges they have had the opportunity to inspect the Premises and acknowledges with its signature on this Lease that the Premises are in good condition and comply in all respects with the requirements of this Lease. The Lessor makes no representation or warranty with respect to the condition of the Premises or its fitness or availability for any particular use, and the Lessor shall not be liable for any latent or patent defect therein. The Lessee represents that Lessee has inspected the premises and is leasing and will take possession of the premises with all current fixtures present in their "as is" condition as of the date hereof.
21. AMERICANS WITH DISABILITY ACT. Per 42 U.S. Code § 12183, if the Lessee is using the Premises as a public accommodation (e.g. restaurants, shopping centers, office buildings) or there are more than 15 employees, the Premises must provide accommodations and access to persons with disabilities that is equal or similar to that available to the general public. Owners, operators, lessors, and lessees of commercial properties are all responsible for ADA compliance. If the Premises is not in compliance with the Americans with Disability Act, any modifications or construction will be the responsibility of the ____________________.
22. RIGHT OF ENTRY. It is agreed and understood that the Lessor and its agents, having given the appropriate notice to Lessee, shall have the complete and unencumbered right of entry to the Premises at any time or times for purposes of inspecting or showing the Premises and for the purpose of making any necessary repairs to the building or equipment as may be required of the Lessor under the terms of this Lease or as may be deemed necessary with respect to the inspection, maintenance or repair of the building. In accordance with State and local laws, the Lessor shall have the right to enter the Premises without the consent of the Lessee in the event of an emergency.
23. ESTOPPEL CERTIFICATE. Lessee at any time and from time to time, upon at least ten (10) days prior notice by Lessor, shall execute, acknowledge and deliver to Lessor, and/or to any other person, firm or corporation specified by Lessor, a statement certifying that the Lease is unmodified and in full force and effect, or if the Lease has been modified, then that the same is in full force and effect except as modified and stating the modifications, stating the dates to which the fixed rent and additional rent have been paid, and stating whether or not there exists any default by Lessor under this Lease and, if so, specifying each such default.
HOLDOVER PERIOD. Should the Lessee remain in possession of the Premises after the cancellation, expiration or sooner termination of the Lease, or any renewal thereof, without the execution of a new Lease or addendum, such holding over in the absence of a written agreement to the contrary shall be deemed to have created and be construed to be a tenancy from month to month with the Rent to be due and payable in the same amount as the previous month plus an additional ____________________ holdover penalty, terminable upon thirty (30) days' notice by either party.
HOLDOVER PERIOD. Should the Lessee remain in possession of the Premises after the cancellation, expiration or sooner termination of the Lease, such holding over in the absence of a written agreement to the contrary shall be deemed to have created a tenancy from month to month with the Rent due and payable in the same amount as the previous month, terminable upon thirty (30) days' notice by either party.
HOLDOVER PERIOD. Should the Lessee remain in possession of the Premises after the cancellation, expiration or sooner termination of the Lease without the execution of a new Lease or a written agreement to the contrary, such holding over shall be deemed a default of this Lease Agreement.
24. WAIVER. Waiver by Lessor of a default under this Lease shall not constitute a waiver of a subsequent default of any nature.
25. GOVERNING LAW. This Lease shall be governed by the laws of the State of ____________________.
26. NOTICES. Notices shall be addressed to the following:
Lessor: ______________________________, ______________________________, ______________________________, ____________________ ______________________________
Lessee:
______________________________
Notices to the Lessee shall be sent to the property's address set forth above.
Notices to the Lessee shall be sent to: ______________________________, ______________________________, ____________________ ______________________________.
27. AMENDMENT(S). No amendment of this Lease shall be effective unless reduced to writing and subscribed by the parties with all the formality of the original.
28. SEVERABILITY. If any term or provision of this Lease Agreement is illegal, invalid or unenforceable, such term shall be limited to the extent necessary to make it legal and enforceable, and, if necessary, severed from this Lease. All other terms and provisions of this Lease Agreement shall remain in full force and effect.
29. BINDING EFFECT. This Lease and any amendments thereto shall be binding upon the Lessor and the Lessee(s) and/or their respective successors, heirs, assigns, executors and administrators.
PERSONAL GUARANTEE.
By Lessee. This Lease Agreement shall be personally guaranteed by the following Guarantor(s), who shall unconditionally guarantee the payment of the rent along with any other financial duties or obligations:
By Third Party. This Lease Agreement shall be personally guaranteed by the following 3rd Party Guarantor(s), who shall unconditionally guarantee the payment of the rent along with any other financial duties or obligations. The 3rd Party Guarantor agrees that the Lessor is not first required to enforce against the Lessee, or any other Guarantor, the liability, obligation, or duty guaranteed by this Lease Agreement before seeking enforcement thereof against the 3rd Party Guarantor. A lawsuit may be brought and maintained against the 3rd Party Guarantor by the Lessor to enforce any liability, obligation or duty guaranteed by this Lease Agreement without the necessity of joining the Lessee or any other individual in the lawsuit.
ADDITIONAL TERMS AND CONDITIONS. ______________________________
LESSOR SIGNATURE
Signature _______________________________ Date __________________
Printed Name _______________________________
Title _______________________________
LESSEE SIGNATURE
Signature _______________________________ Date __________________
______________________________
GUARANTOR SIGNATURE
ACKNOWLEDGMENT OF NOTARY PUBLIC
State of __________________
County of __________________, ss.
On this ____ day of __________________, 20____, before me appeared _______________________________, as the LESSOR(S) of this Commercial Lease Agreement who proved to me through government issued photo identification to be the above-named person, in my presence executed the foregoing instrument and acknowledged that they executed the same as their free act and deed.
Notary Public Signature: _______________________________
Print Name: __________________ My commission expires: __________
(Seal)
ACKNOWLEDGMENT OF NOTARY PUBLIC
State of __________________
County of __________________, ss.
On this ____ day of __________________, 20____, before me appeared _______________________________, as the LESSEE(S) of this Commercial Lease Agreement who proved to me through government issued photo identification to be the above-named person, in my presence executed the foregoing instrument and acknowledged that they executed the same as their free act and deed.
Notary Public Signature: _______________________________
Print Name: __________________ My commission expires: __________
(Seal)