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LEASE AGREEMENT FL101: PRO-LANDLORD FLORIDA MULTITENANT FULL SERVICE OFFICE LEASE WITH BASE YEAR OPERATING EXPENSE STRUCTURE $49.95


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 LEASE AGREEMENT FL101: PRO-LANDLORD FLORIDA MULTITENANT FULL SERVICE OFFICE LEASE WITH BASE YEAR OPERATING EXPENSE STRUCTURE

Product Overview

This form is for a Florida office lease for a full service multitenant building. The tenant is responsible for payment of base rent plus payment of the tenant's pro-rata share of operating expenses in excess of those for the specified base year. Despite the comprehensive definition of operating expenses under the lease, no fewer than 28 pro-tenant exclusions to operating costs are also contained in the lease, making for a balanced approach to the tenant's operating expense obligations.

Number of Single Spaced Pages: 45

 

Key Features

 

Use Office
Rent Increase Method Stipulated
Operating Cost or CAM Contribution Prorata Share in excess of base year expenses
Real Estate Taxes Included in operating expenses
Parking Nonexclusive license of the tenant to a specified number of parking spaces per every 1,000 rentable square feet of the premises
Exhibits Rules and Regulations, Lease Commencement Date Agreement, Work Letter with Tenant Allowance
Renewal Options Yes
Renewal Options Rent Increases 95% of the fair market rental rate for comparable buildings in the area in which the building is located
LA125 Free With Purchase? Yes (see LA125 Free Bonus Tab)
Other Features 28 pro-tenant exclusions to what can be included in operating expenses for the building; Landlord to furnish numerous services to building tenants, including elevators, HVAC, water, restrooms, janitorial, power, lighting, repairs and maintenance of the building, landscaping, and general management; tenant has right of first offer for space adjacent to the premises
Number of Single Spaced Pages 45

 

Excerpt

FULL SERVICE LEASE AGREEMENT

 

This Lease (“Lease”) is made as of _________________, by and between COMMERCIAL PROPERTY LANDLORD, INC., a __________________ corporation (“Landlord”), and AGREEABLE TENANT, INC., a _________________ corporation (“Tenant”).

1. TERM.

1.1 PROPERTY AND PREMISES. The Landlord hereby leases to the Tenant and the Tenant hereby leases from the Landlord the following described property ("Premises"):

Approximately _______ rentable square feet of space designated as Suite ____, and constituting a portion of a building located at _________________, ("Building") which contains approximately ________ gross rentable square feet of space. The Building is included in a multiple building, business and/or industrial park known as _____________ ("Property"). The Building and the location of the Premises are as shown on the Site Plan attached hereto as Exhibit "A". The proposed floor plan for the Premises is attached hereto as Exhibit "B".

1.2 COMMON AREAS. Tenant and its employees and customers will have the nonexclusive right during the term of this Lease to use the parking areas, streets, driveways, aisles, sidewalks, curbs, delivery passages, leading areas, lighting facilities, and all other areas situated on or in the Property which are designated by Landlord, from time to time, for use by all tenants of the Building or the Property in common (collectively, the "Common Areas"), in common with Landlord, other tenants of the Property and other persons designated by Landlord, subject to the Rules and Regulations promulgated by Landlord from time to time.

1.3 LEASE TERM. The term of this Lease (the "Term") shall be _______ (__) calendar months. The Term shall commence on the earlier of the date that Tenant takes possession of the Premises or 10 days after Landlord notifies Tenant that the Premises are ready for occupancy (the "Commencement Date") which is estimated to be _____________, but no earlier than _____________, and end on the last day of the calendar month which is _______ (__) months after the Commencement Date (the "Termination Date"), unless renewed, terminated or extended on the terms and conditions set forth herein. In the event that Tenant takes possession during the Pre-Commencement Occupancy Period as defined herein, the Commencement Date shall be _____________. Each of the parties hereto agrees, upon demand of the other, to execute a Commencement Agreement substantially in accordance with Exhibit "D" attached hereto establishing the Commencement Date as soon as it has been determined. In the event the Commencement Date occurs on any date other than the first day of the month, the first lease year of the Term shall commence on the Commencement Date and end on the last day of the twelfth (12th) full month following the Commencement Date. Landlord and Tenant agree that Landlord shall use its best efforts to make the Premises ready for occupancy by _____________ or such sooner date as the Premises is ready for occupancy (the "Pre-Commencement Occupancy Date") and that Tenant shall be entitled to occupy the Premises as of the Pre-Commencement Occupancy Date through the Commencement Date (the "Pre-Commencement Occupancy Period") on a Rent free basis. However, Tenant shall be required to comply with all other terms and conditions of the Lease during the Pre-Commencement Occupancy Period. The foregoing notwithstanding, in the event the Premises are not delivered to Tenant by _____________, Landlord grants Tenant an option to terminate ("Termination Option") the Lease provided that Tenant gives Landlord written notice ("Termination Notice") of Tenant's election to exercise its Termination Option. The Termination Option is not available to Tenant if Tenant is in default under the Lease or if Landlord's inability to timely deliver the Premises is a direct result of Tenant caused delays.

2. RENT AND OTHER CHARGES.

2.1 BASE RENT.
Tenant hereby covenants and agrees to pay Base Rent in advance in equal monthly installments on the first day of each month in lawful United States currency, together with any and all rental, sales or use taxes levied by any governmental body having authority upon the use or occupancy of the Premises and any rent or other charges payable hereunder in accordance with the following schedule:

[insert rental schedule]

 

Calculated at the current _______ County, Florida sales tax rate of 7.0%.

Does not include Tenant's Share of Operating Expenses, above Base Year _______ .

Notwithstanding the above schedule, Tenant shall receive the first six (6) full months following the Commencement Date Base Rent free of charge (the "Base Rent Free Period"). However, Tenant shall be required to pay all Additional Rent and comply with all other terms and condition of the Lease during the Base Rent Free Period. Base Rent shall be due and payable beginning on the Commencement Date and on the first day of each and every month thereafter throughout the Term and shall be paid without demand, set off or deduction to Landlord at:

 

or such other address as Landlord directs in writing.

2.2 LATE CHARGES.

If any Base Rent or other payment due under this Lease is not received by Landlord within ten (10) days of the due date of such payment, Tenant shall pay, in addition to such payment a late charge equal to the greater of 5% of the payment which is past due or Two Hundred Fifty and No/100 Dollars ($250.00). If any payment due from Tenant shall remain overdue for more than ten (10) days, interest shall accrue daily on the past due amount from the date such amount was due until paid or judgment is entered at a rate equivalent to the lesser of eighteen (18%) percent per annum or the highest rate permitted by law. Interest on the past due amount shall be in addition to and not in lieu of the five (5%) percent late charge or any other remedy available to Landlord.

2.3 ADDITIONAL RENT.

All charges payable by Tenant under the terms of this Lease other than Base Rent are called "Additional Rent." Unless this Lease provides otherwise, all Additional Rent shall be paid with the next monthly installment of Base Rent and shall include all applicable sales or use taxes. The term "Rent" shall mean Base Rent and Additional Rent.

2.4 COMMON AREA MAINTENANCE CHARGES, OPERATING EXPENSES.

In addition to the Base Rent payable under Section 2.1 above, Tenant agrees to pay as Additional Rent its proportionate share of the "Operating Expenses" (hereinafter defined), applied on a non-discriminatory basis, for any calendar year during the Term over the Operating Expenses for the calendar year _______ (the "Base Year") for the Building and for the Property to the extent that any item of Operating Expenses is applicable to the Property but is not attributable to any particular building in the Property or any tenant(s) therein. The Landlord agrees that it will cap those Operating Expenses which are solely controllable by Landlord (which shall exclude, without limitation, taxes, assessments, insurance, and utilities) at five percent (5.0%) increase cumulative per calendar year during the Term. The Operating Expenses for the Base Year and each subsequent year during the Term shall be grossed up to reflect occupancy of 95% of the rentable area of the Building for the entire year and to reflect the actual amount of any charges, including but not limited to real estate taxes and utilities, that were reduced in such year as a result of reductions, discounts, or abatement but will not be reduced in subsequent calendar years. The proportionate share to be paid by Tenant ("Share") shall be a fraction, the numerator of which shall be the gross rentable square footage of the Premises and the denominator of which shall be the gross rentable square footage of the Building, all as determined as measured by Landlord. Tenant's Share at the inception of the Lease is _______%. The Share shall be subject to change from time to time as and if the gross rentable square footage of either the Premises or the Building changes. Within ninety (90) days after the end of each calendar year, Landlord shall send a statement of Operating Expenses to Tenant for the prior year providing in reasonable detail a statement of all Operating Expenses incurred in the operation of the Building and, to the extent applicable, the Property along with the amount representing the Share. Tenant shall be given a credit against its Share of future Operating Expenses payable for any overpayment of Operating Expenses that have been paid up to the time of said statement. If Tenant has overpaid its Share of Operating Expenses and the Lease has terminated, Landlord shall refund such overpayment to Tenant. If Tenant has underpaid, then Tenant shall pay the balance due to Landlord as Additional Rent within thirty (30) days of the date of said statement unless the statement is rendered at the end of the Term in which case any overage due the Landlord will be paid by check at the time Tenant delivers the Premises to Landlord. Concurrently with the invoice described above, Landlord shall also provide an estimate of the Operating Expenses for the next calendar year and a statement of the estimated monthly Operating Expenses payable by Tenant. Landlord's failure to provide a statement shall not prejudice Landlord's right to collect a shortfall or Tenant's right to receive a credit for over payments. "Operating Expenses" shall mean any expenses incurred whether by the Landlord or by others on behalf of the Landlord, arising out of Landlord's maintenance, operation, repair, replacement (if such replacement is generally regarded in the industry as increasing operating efficiency or is required under any governmental regulation that was not applicable to the Property as of the Commencement Date) and administration of the Property, Building and Common Areas, including, without limitation:

(i) all real estate, personal property and other ad valorem taxes, and any other levies, charges, local improvement rates, and assessments whatsoever assessed or charged against the Property, Building and Common Areas, the equipment and improvements therein contained, including any amounts assessed or charged in substitution for or in lieu of any such taxes, excluding only income or capital gains taxes imposed upon Landlord, and including all costs associated with the appeal of any assessment on taxes;

(ii) insurance which the Landlord is obligated or permitted to obtain under this Lease and any deductible amount applicable to any claim made by the Landlord under such insurance;

(iii) security;

(iv) landscaping and pest control,

(v) a reasonable management fee;

(vi) electricity, water, sewer, gas, window washing, janitorial services, trash and debris and other maintenance and utility charges;

(vii) water intrusion and mold assessment and remediation;

(viii) wages and benefits payable to employees of Landlord whose duties are directly connected with the operation and maintenance of the Property; and

(ix) dues and assessments under any applicable deed restrictions or declarations of covenants and restrictions.

Notwithstanding the foregoing, "Operating Expenses" shall exclude the following:

1. Repairs or other work, except capital improvements, occasioned by fire, windstorm, or other insurable casualty of any nature except to the extent of the reasonable deductible contained in the policy or by the exercise of the right of eminent domain;

2. Leasing commissions, attorneys fees, costs and disbursements, and other expenses incurred in connection with the negotiations for and the execution of leases and disputes in connection with tenants, other occupants, or prospective tenants or other occupants;

3. Renovating or otherwise improving or decorating, painting, or redecorating space for new tenants or other occupants of vacant space;

4. Landlord's costs of electricity and other services and materials furnished to tenants and for which Landlord is entitled to be directly reimbursed by the benefited tenants as an additional charge or rental over and above the basic rent payable under the lease with such tenants. Provided, however, that as an accounting procedure such costs may be charged as a part of Operating Expenses with the reimbursement received credited to Operating Expenses;

(continued)


End of Excerpt

 

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