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Lease Related Agreements

Product Overview

This lease addendum is designed to be an attachment to a lease for office space. It is pro-landlord in tone, and contains parking rules which regulate the tenant's conduct in and use of the parking facility.

It gives the landlord extensive rights to adopt, modify and enforce reasonable rules governing the use of the parking facility from time to time including any key-card, sticker or other identification or entrance system and hours of operation.

The tenant has 24 hour access to the office building parking facility on a first come, first served basis.

Number of Single Spaced Pages: 8


Quick Look


This Parking Agreement Exhibit ("Parking Agreement") is attached to and made a part of the Lease by and between COMMERCIAL PROPERTY OWNER, LLC, a ________ limited liability company ("Landlord") and COMMERCIAL TENANT, a __________ corporation ("Tenant") for space in the Building located at __________________________________.

1. The capitalized terms used in this Parking Agreement shall have the same definitions as set forth in the Lease between Landlord and Tenant of even date herewith to the extent that such capitalized terms are defined therein and not redefined in this Parking Agreement. In the event of any conflict between the Lease and this Parking Agreement, the latter shall control.

2. Landlord hereby grants to Tenant and persons designated by Tenant a license to use ____________ (___) non-reserved parking spaces (based upon a ratio of 3.1 parking spaces per 1,000 square feet of rentable area of the Premises) and ____ (___) reserved parking spaces in the surface parking lot servicing the Building ("Parking Facility"). The number of parking spaces available for Tenant’s use shall increase proportionately (based upon a ratio of 3.1 parking spaces per 1,000 square feet of rentable area of the Premises) if, during the Term of the Lease, the rentable area of the Premises increases due to Tenant’s exercise of any Expansion Option and/or Right of First Offer (as such terms are expressly contained in the Lease). The term of such license shall commence on the Commencement Date under the Lease and shall continue until the earlier to occur of the Termination Date under the Lease, the sooner termination of the Lease, or Tenant’s abandonment of the Premises thereunder. During the term of this license, Tenant’s use of the Parking Facility shall be free of monthly parking charge. Tenant may, from time to time request additional parking spaces, and if Landlord shall provide the same, such parking spaces shall be provided and used on a month-to-month basis, and otherwise on the foregoing terms and provisions, and at such prevailing monthly parking charges as shall be established from time to time.


5. If Tenant shall default beyond applicable notice and cure periods under this Parking Agreement, the operator shall have the right to remove from the Parking Facility any vehicles hereunder which shall have been involved or shall have been owned or driven by parties involved in causing such default, without liability therefor whatsoever. In addition, if Tenant shall default under this Parking Agreement, Landlord shall have the right to cancel this Parking Agreement on ten (10) days written notice, unless within such ten (10) day period, Tenant cures such default (which ten (10) day cure period shall, for non-monetary defaults, be extended one day for each day that Tenant is prevented from completing its cure due to events of Force Majeure, provided that Tenant is diligently prosecuting its cure to completion). If Tenant defaults with respect to the same term or condition under this Parking Agreement more than three (3) times during any twelve (12) month period, and Landlord notifies Tenant thereof promptly after each such default, the next default of such term or condition during the succeeding twelve (12) month period, shall, at Landlord’s election, constitute an incurable default. Such cancellation right shall be cumulative and in addition to any other rights or remedies available to Landlord at law or equity, or provided under the Lease (all of which rights and remedies under the Lease are hereby incorporated herein, as though fully set forth). Any default by Tenant under the Lease shall be a default under this Parking Agreement, and any default under this Parking Agreement shall be a default under the Lease.

6. Tenant shall have access to the Parking Facility on a 24-hour basis, seven (7) days a week, subject to the other terms of this Parking Agreement; provided, however, that Landlord shall have the right to temporarily change such access hours so long as Landlord uses commercially reasonable efforts to minimize disruption to Tenant’s business. Tenant shall not store or permit its employees to store any automobiles in the Parking Facility without the prior written consent of the operator. Except for emergency repairs, Tenant and its employees shall not perform any work on any automobiles while located in the Parking Facility, or on the Property. If it is necessary for Tenant or its employees to leave an automobile in the Parking Facility overnight for more than one night, Tenant shall provide the operator with prior notice thereof designating the license plate number and model of such automobile.


End of Excerpt


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