Description and usage
Commercial Lease This Commercial Lease is in American form and is designed for use in the United States. It is for use for the lease of office premises in a multi-tenant/multi-office building used for commercial purposes. There are 33 main sections which cover • definitions
• grant of lease
• finishing of premises
• term
• base rent
• contribution to operating costs
• security deposit
• use
• assignment and subletting by tenant
• maintenance
• alterations; signs; equipment; moving
• rights of landlord
• services and utilities
• waiver and indemnity
• insurance
• fire or other casualty
• condemnation
• security interest
• default
• landlord’s right to cure tenant default
• waiver
• subordination
• rules and regulations
• covenant of quiet enjoyment
• no representations by landlord
• notices
• estoppel certificates
• surrender; holding over
• energy conservation
• relocation
• brokers
• tenant’s taxes
• a general clause detailing governing law, severability, assignment, the scope of the agreement and succession Also included is a form of a Memorandum of Lease, which can be recorded with the local County Recorder to provide legal notice of a Lease to third parties, without the need to file the entire Lease (e.g., where confidentiality of material financial terms is an issue). These forms are intended for use within the United States.
What's in it? - See detailed Explanatory Notes below
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