Commercial Lease Agreement - Template, Sample Form
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COMMERCIAL LEASE
(Alberta)
This lease Agreement is signed on ___________________ (date) and is between ________, (hereinafter referred to as the "Landlord") and ________ (hereinafter referred to as the "Tenant"). The parties agree as follows:
1. LEASED PREMISES. The Landlord leases to the Tenant the following property (hereinafter referred to as the "Premises"):
________
The Premises are located at the following address:
________
The Premises represent an area of ________ (________) square feet.
2. TERM. The term of the lease will begin on ________ at 12:01 and will end at 23:59 on the last day of the month after either the Tenant or the Landlord give at least one-month notice to terminate the lease.
The Tenant must notify Landlord in advance of any anticipated extended absence from the Premises.
3. RENT. The Tenant will pay to the Landlord monthly installments in the amount of $________ (________), which equates to $________ per square foot per month.
The rent will increase ________% (________ percent) on an annual basis.
The rent is payable on or before the 1st (first) of each month.
Rent payments must be made to the Landlord at the following address:
________
The Landlord may change the address at which the payments are made by giving written notice to the Tenant.
4. SECURITY DEPOSIT. At the time of the signing of this lease, the Tenant will pay to the Landlord a security deposit in the amount of $________ (________) to be held for the reasonable cleaning or repair of damages to the Premises until the expiration or termination of this lease or in case of default by the Tenant, as provided by law.
The Tenant will be liable to the Landlord at the expiration or termination of this lease for all damages to the Property, except ordinary wear and tear.
The Landlord may hold the security deposit in a non-interest-bearing account. In such case, no interest is due to the Tenant and the Tenant may not use the security deposit to cover Rent. The Landlord may otherwise elect to hold the security deposit in an interest-bearing account and allow the Tenant to receive certain interest funds if applicable. The Tenant will still not be permitted to use the security deposit to cover any Rent.
In case of sale or assignment of the lease by the Landlord, the Tenant's security deposit will be transferred to the new owner or assignee and the Landlord will be released from liability to the Tenant for the return of the security deposit.
Deductions from the security deposit include, but are not limited to, unpaid rent or utilities, late fees, cleaning, key replacement, and removal of abandoned property.
5. POSSESSION. The Tenant will be entitled to possession on the first day of the term of this lease, and will yield possession to the Landlord on the last day of the term of this lease, unless both parties otherwise agree in writing. At the end of the lease term, the Tenant shall remove all goods and effects and peaceably return the Premises in as good a condition as when first delivered to the Tenant, save and except for ordinary wear and tear that occurred during the Tenant's possession of the property.
6. EXCLUSIVITY. The Landlord may not directly or indirectly, through any agent, employee, or other representative, lease any space within the property (except the Premises described by this lease), or permit the use or occupancy of any such space whose primary business activity is in, or may result in, competition with the Tenant's primary business activity without an express agreement in writing signed by both parties. The Landlord hereby gives the Tenant the exclusive right to conduct their primary business activity on the property.
7. PARKING. The Tenant will be entitled to use ________ parking spaces for the parking of the Tenant's patrons' motor vehicles.
8. STORAGE. The Tenant will be permitted to store items of personal property at the Premises during the term of this lease. The Landlord will not be held liable for any loss of or damage to these stored items.
9. PROPERTY INSURANCE. The Landlord and the Tenant shall each maintain appropriate insurance for their respective interests in the Premises and property located on the Premises. The Tenant's insurance policy must be an amount not less than $________ (________). The Landlord must be named as an additional insured party on any and all such policies. The Tenant shall deliver evidence to the Landlord as proof of adequate insurance in force issued by companies reasonably satisfactory to the Landlord. The Landlord will receive advance written notice from the insurer prior to any termination of such policies. The Tenant shall also maintain any other insurance which the Landlord reasonably requires for the protection of the Landlord's interest in the Premises. The Tenant is responsible for maintaining property insurance on its own property.
10. LIABILITY INSURANCE. The Tenant shall maintain liability insurance on the Premises in an amount not less than $________ (________). The Tenant shall deliver evidence to the Landlord as proof that sufficient insurance is in force and issued by companies reasonably satisfactory to the Landlord. The Landlord shall receive advance written notice from the insurer prior to any termination of such insurance policies.
11. MAINTENANCE. The Landlord shall maintain the Premises in a good state of repair at all times during the term of this lease.
12. UTILITIES. The Landlord will be responsible for paying and maintaining all utilities under this lease.
13. TAXES. Taxes related to the Premises or its use shall be allocated in the following way:
a) Real Estate Taxes. The Landlord shall pay all real estate taxes and assessments for the Premises.
b) Personal Taxes. The Landlord shall pay all personal taxes and any other charges which may be levied against the Premises and which are attributable to the Tenant's use of the Premises, along with all sales and/or use taxes (if any) that may be due in connection with lease payments.
14. TERMINATION UPON THE SALE OF PREMISES. Notwithstanding any other provisions in this lease, the Landlord may terminate this lease upon ________ days written notice to the Tenant that the Premises have been sold.
17. LATE PAYMENTS. For any payment that is not paid within one day of its due date, the Tenant shall pay a late flat fee of $________. At the latest, the Tenant shall pay the late fee with the Rent of the following month.
18. QUIET ENJOYMENT. During the term of the lease Agreement, the Tenant has the right of quiet enjoyment of the Premises.
19. OVER-HOLDING. If the Tenant maintains possession of the Premises for any period after the termination of this lease (hereinafter referred to as the "Over-holding Period"), the Tenant shall pay to the Landlord lease payment(s) during the Over-holding Period at a rate equal to 150% (one hundred and fifty percent) of the normal payment rate from the last rent period under this lease, prorated based on the actual number of over-holding days.
20. LANDLORD ACCESS TO PREMISES. Subject to the Tenant's consent (which shall not be unreasonably withheld), Landlord shall have the right to enter the Premises to make inspections, provide necessary services, or show the unit to prospective buyers, lessors, or workers. However, the Landlord does not assume any liability for the care or supervision of the Premises. As provided by law, in case of an emergency, the Landlord may enter the Premises without the Tenant's prior consent. During the last three months of this lease, or any extended period of this lease, the Landlord will be allowed access to the Premises to display signs and show the Premises to prospective future tenants.
21. INDEMNITY REGARDING USE OF PREMISES. To the extent allowed by law, the Tenant agrees to indemnify, hold harmless, and defend the Landlord from and against any and all losses, claims, liabilities, and expenses, including reasonable legal fees, if any, for which the Landlord may suffer or incur in connection with the Tenant's possession, use, or misuse of the Premises, except the Landlord's own act or negligence.
22. DANGEROUS AND HAZARDOUS MATERIALS. The Tenant may not keep or have on the Premises any article or thing of a dangerous, flammable, or explosive nature that might substantially and unreasonably increase the danger of fire or explosion on the Premises, or that might be considered hazardous by a responsible insurance business, unless the prior written consent of the Landlord is obtained and proof of adequate insurance protection is provided by the Tenant to the Landlord.
23. COMPLIANCE WITH REGULATIONS. The Tenant shall promptly and dutifully comply with all laws, ordinances, requirements, and regulations of the federal, provincial/territorial, municipal, and other authorities, and the fire insurance underwriters. However, the Tenant is not required by this provision to make alterations to the exterior or structure of the building.
24. ASSIGNMENT AND SUBLETTING. The Tenant shall not assign this lease, or sublet or grant any concession or license to use the Premises or any part thereof without the prior written consent of the Landlord, which consent shall not be unreasonably withheld. A consent by the Landlord to one assignment, subletting, concession, or license shall not be deemed to be a consent to any subsequent assignment, subletting, concession, or license. Any assignment, subletting, concession, or license without the prior written consent of the Landlord, or an assignment or subletting by operation of law, shall be void and shall, at the Landlord's option, terminate this lease.
25. ALTERATIONS AND IMPROVEMENTS. The Tenant shall make no alterations to the buildings or improvements on the Premises or construct any building or make any other improvements on the Premises without the prior written consent of the Landlord. Any and all alterations, changes, and/or improvements built, constructed, or placed on the Premises by the Tenant shall, unless otherwise provided by written agreement between the Landlord and the Tenant, become the property of the Landlord and remain on the Premises at the expiration or earlier termination of this lease.
26. NON-DELIVERY OF POSSESSION. In the event the Landlord cannot deliver possession of the Premises to the Tenant upon the commencement of the lease term, through no fault of the Landlord, then the Landlord shall not be liable to the Tenant for any damages resulting from such delay. In such event, this lease shall not be void or voidable, but the lease payments shall abate proportionately for the period during which the Tenant is unable to take possession. If possession cannot be delivered within a reasonable time, the Tenant shall have the right to terminate this lease upon written notice to the Landlord.
27. DISAGREEMENTS DURING THE LEASE PERIOD. If a disagreement arises during the lease period, the following actions will take place:
-- If there is a dispute between the Landlord and the Tenant, all parties agree to attempt to come to an agreement through the use of an agreed upon mediator.
-- It is agreed that the costs involved in hiring the mediator will be shared equally and that each party shall cooperate in a good faith manner to come to a resolution.
-- Both parties agree that they will allow the mediator 30 (thirty) days from the first meeting to reach a compromise before going to court.
-- If the parties are unable to come to an agreement with the assistance of the mediator in 30 (thirty) days, they each reserve the right to bring legal action in a court of law or before an arbitrator.
-- The decision of a court or arbitrator will be legally binding upon all parties involved.
28. NOTICES. Notices under this will be deemed valid only when given or served in writing and forwarded by mail, prepaid postage, addressed as follows:
LANDLORD:
________
TENANT:
________
Such addresses may be changed by either party at any time by providing written notice to the other party as set forth above. Notices mailed in accordance with the above provisions shall be deemed received on the third day after posting.
29. GOVERNING LAW. This lease will be governed by and construed exclusively in accordance with the laws of the province of Alberta, and the laws of Canada in effect in Alberta. In the event of litigation arising from this Agreement, the parties submit to the exclusive jurisdiction of the courts of Alberta, and to any other court of competent jurisdiction to enforce a judgment of a court of Alberta. Neither party may seek to enforce an order in any court other than the courts of Alberta.
30. ENTIRE AGREEMENT. This lease Agreement contains the entirety of the agreement between the parties and there are no other promises, conditions, understandings, or other agreements, written or oral, relating to the subject matter of this lease. Any modification or amendment to this lease must be in writing and signed by the parties hereto.
31. SEVERABILITY. If any section or subsection of this Agreement is deemed invalid by court order, judgment or by operation of law, the remaining sections and subsections of this Agreement shall remain valid and enforceable to the fullest extent permitted by law.
32. NO WAIVER. If the Landlord fails to enforce strict performance of any section or subsection of this lease, this shall not be construed as a waiver of Landlord's right to enforce the same section or subsection later in time or to enforce any other section or subsection.
33. BINDING. 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.
LANDLORD
________
By: _______________________________________
________
Date: __________________
TENANT
________
By: _______________________________________
________
Date: __________________
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