LEASE AGREEMENT 1441: LEASE FOR TECHNICAL SCHOOL IN BUSINESS PARK $49.95
BUSINESS PARK LEASE AGREEMENT FOR TECHNICAL SCHOOL (EXCERPT)
This Lease is made as of _________________, by and between COMMERCIAL PROPERTY LANDLORD, INC., a __________________ corporation ("Landlord"), and AGREEABLE TENANT, INC., a _________________ corporation ("Tenant").
In consideration of the mutual agreements hereinafter set forth, the parties do hereby mutually agree as follows:
1. Landlord does hereby lease to Tenant and Tenant does hereby lease from Landlord, for the term and on the conditions hereinafter provided, _________ square feet of space which square footage is agreed upon and not subject to remeasurement (hereinafter referred to as the "Demised Premises") of the building situated at ________________________________ (the building and land being hereinafter referred to as the "Property" or the "Project"), together with the right to the non-exclusive use, in common with others, of such footways, hallways, parking areas and other facilities designed for common use as may be installed by Landlord. The Demised Premises are outlined in red on the plan attached hereto marked as Exhibit A and incorporated herein by reference.
2. (a) The Demised Premises are leased for a term (hereinafter called the "Term") commencing on the Lease Commencement Date (as defined in subparagraph (b) of this Paragraph 2) and terminating at midnight on that date which is five (5) years after __________ (said date of termination being hereinafter called the "Lease Termination Date"), unless the Term shall sooner cease, expire or be terminated as hereinafter provided.
(b) The Lease Commencement Date shall be _____________, and Landlord and Tenant agree that Tenant accepts the Demised Premises "as is" as of the date of this Lease subject to the other provisions of this Lease.
Portions of the Demised Premises shall be delivered to Tenant in two stages (Portion One is all of the Demised Premises except the Travel Agency Space and Portion Two is the Travel Agency Space). The Lease Commencement Date (and Tenant's obligation to commence paying Rent) as to each portion of the Demised Premises shall be that date which is thirty (30) days after Landlord notifies Tenant that such portion is available for occupancy by Tenant. Landlord shall make the entire Demised Premises available for Tenant's occupancy by not later than __________, except for the approximately __________ square feet of space on the second floor of the Building which is currently leased to Travel Agency (the "Travel Agency Space"). As to the Travel Agency Space, Landlord shall use reasonable efforts to obtain from Travel Agency by ______________ a signed agreement by Travel Agency to vacate the Travel Agency Space. If Landlord has obtained said signed agreement from Travel Agency by __________, then Landlord shall have sixty (60) days after the date of said written agreement to make the Travel Agency Space available for Tenant's occupancy. If Landlord has not obtained said signed agreement from Travel Agency by ____________, then Tenant shall have the right to select vacant and available space of approximately the same size and rental rate located on the first floor of the Building (the "Substitute Space"), for Tenant's occupancy until such time as Landlord notifies Tenant that the Travel Agency Space is available for Tenant's occupancy. The Lease Commencement Date (and Tenant's obligation to commence paying Rent) as to the Travel Agency Space and Substitute Space, respectively, shall be the date which is thirty (30) days after Landlord notifies Tenant that such space is available for occupancy by Tenant.
(d) After the Lease Commencement Date, upon request of either party, Landlord and Tenant shall promptly execute, acknowledge and deliver to one another a written instrument certifying the Lease Commencement Date and expiration date, which certificate shall be in the form set forth in Exhibit D hereto.
(e) If Landlord shall be unable to give possession of the Demised Premises on the date of the commencement of the Term hereof by reason of the fact that the Property or the Demised Premises are being constructed by Landlord and have not been sufficiently completed to make the Demised Premises ready for occupancy, or by reason of the fact that a certificate of occupancy has not been procured by Landlord (if procurement of same is Landlord's obligation), or if Landlord is unable to give possession by reason of the holding over or retention of possession of a previous tenant or occupant, or if repairs, improvements or decoration of the Demised Premises or of the Property are the obligation of Landlord and are not completed, Landlord shall not be subject to any liability for the failure to give possession on said date. Under such circumstances, the Rent reserved and covenanted to be paid herein shall not commence until thirty (30) days after the possession of Demised Premises is given or the Demised Premises are available for occupancy by Tenant, and no such failure to give possession on the date of commencement shall in any other respect affect the validity of this Lease or the obligations of Tenant hereunder, nor shall same be construed in any way to extend the Term of this Lease. If permission is given to Tenant to enter into possession of the Demised Premises prior to the date specified as the commencement of the Term of this Lease, Tenant covenants and agrees that such occupancy shall be deemed to be under all of the terms, conditions, covenants and provisions of this Lease.
3. (a) Tenant shall pay as rent (hereinafter referred to as "Rent") for the Demised Premises as follows:
Period Rent Per Month
the first installment being due and payable upon execution of this Lease and the remaining installments being due and payable in advance on the first day of each and every month beginning on the Lease Commencement Date at ___________________, (or at such other place as Landlord may designate in a notice to Tenant), without prior demand therefor and without any setoff, deduction or counterclaim whatsoever.
(b) If the Term of this Lease begins on a date other than the first day of a month, Rent from such other date to the first day of the following month shall be prorated at the rate of one-thirtieth (1/30th) of the fixed monthly rental for each day, payable in advance.
4. The provisions of this Lease concerning Additional Rent payable by Tenant are set forth in Lease Addendum One attached hereto and incorporated herein by reference.
5. In addition to the Rent and Additional Rent hereinabove set forth, it is understood and agreed that the basic annual Rent set forth in Paragraph 3(a) above shall, commencing with the second lease year, be in the amounts set forth on the following schedule:
Lease Year Rent Per Annum Rent Per Month
---------- -------------- --------------
If during the first Lease Year only a portion of the Demised Premises has been made available for occupancy by Tenant (as provided above), then the Rent for the first Lease Year stated above shall be pro rated from time to time as such portions are so made available and shall be equal to the Rent (stated above) for such first Lease Year multiplied by a fraction the numerator of which is the square footage of the portion(s) so made available for Tenant's occupancy as of the date of said calculation and the denominator of which is _________.
For purposes of this Lease the term "lease year" shall mean a twelve (12) month period, with the first lease year commencing on the Lease Commencement Date and ending on that date which is one day prior to the first anniversary of the Lease Commencement Date, and each subsequent lease year shall commence on the same day of each subsequent calendar year of the Term as the Lease Commencement Date and shall end on the day prior to the commencement of the next lease year.
Past Due Rent, Dishonored Checks, Late Charges
6. If Tenant shall fail to pay, when the same is due and payable, any Rent or any Additional Rent, or any and other amounts or charges, such unpaid amounts shall bear interest from the due date thereof to the date of payment to the rate of three percent (3%) over the prime rate of _________Bank, N.A., but not to exceed the highest lawful rate. In addition, Tenant shall pay to Landlord, as a late charge, five percent (5%) of any payment required to be made by Tenant which is not actually received by Landlord within five (5) days of the date such payment was due. In the event any check for the payment of Rent or Additional Rent is dishonored, Tenant shall pay to Landlord a fee equal to the greater of (a) Twenty-Five Dollars ($25.00) or (b) the charges assessed against landlord by the bank in which the dishonored check was deposited. Landlord will notify Tenant in the event the charge for any dishonored check exceeds Twenty-Five Dollars ($25.00). Immediately upon notification by Landlord that Tenant's check has been dishonored, Tenant shall pay to Landlord, in cash or by certified or cashier's check, the amount of the Rent or Additional Rent intended to be paid by such dishonored check, the dishonored check charge and a late charge, if applicable. Upon Landlord's receipt of any check from Tenant which is dishonored for payment, Landlord shall have the right to require Tenant to make all future payments due to Landlord hereunder by cash, certified or cashier's check.
Use of Demised Premises
7. Tenant shall continuously use and occupy the Demised Premises solely for a technical training school related to instruction concerning ____________________ and/or general office use and related services subject to, and in accordance with, all applicable zoning and other governmental regulations and the Declaration of Covenants, Conditions and Restrictions for _______ Business Park, recorded on the Land Records of _________________ County, _______. Tenant shall not abandon or substantially abandon the Demised Premises. Tenant shall not obstruct, interfere, or conflict with, the rights of other tenants, or conflict with the fire laws or regulations, or with any insurance policy upon the Property or any part thereof, or with any statutes, rules or regulations now existing or subsequently enacted or established by local, state or federal governments, nor shall Tenant use or permit the Demised Premises, or any part hereof, to be used for any disorderly, unlawful or extra hazardous purpose, nor for any purpose other than hereinabove specified.
Tenant, at Tenant's sole cost and expense, shall be required to enforce against Tenant's students and visitors all of Landlord's rules and regulations for the Building, the common areas and the parking areas. Tenant shall ensure that its students refrain from smoking in the Building, the common areas and the parking areas. In addition, Tenant shall ensure that its students conduct themselves in a business like and professional manner and with regard for other tenants in the Building while at or about the Demised Premises. Tenant's failure to adhere to the requirements set forth in this Paragraph 7 and the continuation of such failure for five (5) days after written notice thereof from Landlord to Tenant (extendable up to the 30th day after such written notice if Tenant is diligently pursuing curing such failure) shall be a Default under Paragraph 27 hereof.
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