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ALABAMA COMMERCIAL LEASE AGREEMENT (iPropertyManagement)

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ALABAMA COMMERCIAL LEASE AGREEMENT
THIS COMMERCIAL LEASE AGREEMENT hereinafter known as the "Lease" is entered into
this ____ day of ________________, 20____, (“Effective Date”) by and between
_____________________ with mailing address at ______________________
____________________________________ hereinafter referred to as the "Lessor,"
And
_____________________ with mailing address at ______________________
____________________________________ hereinafter referred to as the "Lessee,"
collectively referred to herein as “the Parties.”
WHEREAS, the Lessor desires to lease the Premises defined herein to the Lessee under
the terms and conditions as set forth herein; and
WHEREAS, the Lessor desires to lease the Premises defined herein from the Lessor
under the terms and conditions set forth herein.
NOW THEREFORE, for and in consideration of the covenants and obligations set forth
herein and of other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Parties hereby agree as follows:
1. THE PREMISES. In accordance with the terms and conditions of this Lease, the Lessor
hereby agrees to lease to the Lessee the property described below together with all the
improvements thereto:
Address: ______________________________________________________________
Floor and/Unit Number: _________
Net Floor Area: _________
Hereinafter known as the “Premises”.
The Lessee hereby leases and takes from the Lessor the Premises and confirms that the
floor numbers and/or unit numbers of the Premises referred to above are designated by
The Lessor.
2. PERMITTED USE. Lessee agrees to continuously and at all times use and occupy the
Premises during the Lease Term solely for the Permitted Use(s) as specified
below(“Permitted Use”):
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
No other use is permitted without prior written approval of Lessor, which approval
Lessor may grant or withhold.
3. LEASE TERM. The term of this Lease shall commence on ____ day of
_________________, 20____ and shall subsist for a period of ____ year(s) and ____
month(s), and expire on the last day of the Lease term, the ____ day of
_________________, 20____. (“Lease Term”)
4. RENEWAL. (Check One)
☐ The Lessor shall have no obligation to renew the Lease or extend the Lease Term. The
Lessee shall have no further right to extend the Lease Term upon its expiration.
☐ The Lessee will have right to renew the lease for the additional term of ______ years
and _____ months (the “Renewal Term”) by giving the Lessor a Notice of Renewal not
later than _______ months/days but no earlier than _______ months/days, prior to the
expiration of the Lease Term (“Renewal Period”). The Renewal Term shall commence
immediately upon the expiration of the Lease Term. In the event of the renewal of this
Lease, the terms and conditions of this Lease shall remain in full and effect for the
duration of the Renewal Term unless otherwise agreed to in writing by the Parties.
The Rent for the Renewal term shall: (Choose one.)
☐ be equal to the Rent payable during the Lease Term.
☐ shall be based on the then current market rates for comparable premises provided
that the Rent upon the Renewal Term shall not increase by more than _____% above
the Rent payable in the immediately preceding year.
5. RENT. The Lessee shall pay the net amount of $ ________________ for every month
for the duration of the Lease (herein after referred to as “Rent”). The rent shall be
payable every _____ day of the month (“Due Date”), every month for the duration of
the lease notwithstanding that the Due Date falls on a weekend or public holiday.
6. EXPENSES. The Parties agree that the responsibility for the expenses in relation to this
Lease shall be borne as follows:
a. Utilities.
The Utilities including: electricity and water charges, communications, telephone
and data charges, gas and ____________________________, shall be borne and
paid by (choose one) ☐ the Lessor ☐ the Lessee ☐ the Parties jointly.
b. Maintenance.
The Maintenance of the Premises including the following shall be borne and paid
by (choose one) ☐ the Lessor ☐ the Lessee ☐ the Parties jointly: (Choose all
that is applicable)
☐ Janitorial and pest control services
☐ Garbage removal
☐ Grease traps, drainage and pipes maintenance
☐ Parking maintenance
☐ Lawn maintenance
☐ Snow removal
☐ HVAC Maintenance
☐ Repairs other than Minor Repairs as defined herein.
c. Insurance. (Choose all that is applicable)
☐ Casualty Insurance. The Lessor ☐ The Lessee ☐ The Parties (jointly) shall be
responsible for obtaining and maintaining casualty insurance for the Premises for
losses against fire.
☐ Comprehensive General Liability Insurance. The Lessee shall procure and
maintain a valid Comprehensive General Liability Insurance indemnifying the
Lessor with minimum coverage of $____________________ for personal injury
and $____________________ for damage to property.
d. Taxes.
The Lessee shall bear all Taxes and fees that are payable under Laws in
connection with other payments made by the Lessee, the Lessee’s interests
under this Lease, the Lessee’s improvements and property at the Premises, and
the Lessee’s activities at the Premises.
The Lessor ☐ The Lessee ☐ The Parties (jointly) shall bear all Taxes and fees
that are payable under Laws in connection with the Rent.
The Lessor ☐ The Lessee ☐ The Parties (jointly) shall pay all Taxes and fees
payable in connection with this Agreement under Laws to the extent that such
Taxes and fees are payable under the applicable Laws by owners of buildings that
are of a similar nature to the Premises, or by sub-lessors of land use rights (for
example, real property, real estate and/or personal property taxes).
7. COMMON AREAS. The Lessor shall at all times have exclusive management and
control of the Common Areas for any purpose or in any manner that it deems necessary
or appropriate. The Lessor reserves the right to remove, relocate or otherwise change or
carry out any alteration or addition or other works to the Common Areas. The Lessor
shall not be liable to Lessee for any damage incidental to the exercise of its rights under
this section, provided that such damage is not accompanied by any fault, negligence or
bad faith on the part of the Lessor or his agents. The Lessee shall abide by the Lessor’s
rules and management of the Common Areas.
“Common Areas” refers to those portions of the structure in which the Premises and
located and areas surrounding the Premises including the driveways, entrances and
exits, pedestrian passageways, walkways, loading docks, landscaped and streetscaped
areas, any on-site parking areas, facilities (such as escalators, and lifts), installations
(such as doors, windows, electrical installations and wiring), water and drainage pipes,
gas pipes, fire systems, security and air-conditioning facilities, and all other areas or
improvements which may be provided by Lessor from time to time for the general use
of tenants of the structure in which the Premises and located and areas surrounding the
Premises and their respective employees, guests, patrons, suppliers, licensees and other
invitees.
8. SECURITY DEPOSIT. Lessee shall deposit with Lessor the amount of $_____________
to secure the faithful performance of the terms and conditions of this Lease (the
“Security Deposit”) on or before the execution of this Lease. The Security Deposit shall
be held by Lessor: (Choose one that applies)
☐ free of interest throughout the Lease Term. /
☐ in escrow in an interest-bearing account with interest accruing to the Lessee and to
be delivered to the Lessee upon the return of the Security Deposit.
Except in the event that the same has been forfeited by the Lessee, the Security Deposit
shall be returned to the Lessee within _____ days after the termination of the Lease.
9. ALTERATIONS AND IMPROVEMENTS. No alterations to or improvements on the
Premises shall be made by the Lessee without prior express consent of the Lessor to the
same in writing. The Lessor agrees to not unreasonably withhold consent to reasonably
necessary alterations or improvements. The Lessee shall ensure compliance with any
and all applicable laws, rules, ordinances and codes when undertaking any alteration or
improvement to the Premises.
A. Unauthorized Alterations or Improvements. In the event that the Lessee shall
undertake alterations or improvements relating to the Premises in violation of
this section the same shall be considered a material breach of this Lease and
shall put the Lessee in default. The Lessor may, upon the Lessor’s discretion,
require the Lessee to undo the alterations or improvements and restore the
Premises to the its condition prior to any unauthorized alteration or
improvement at the sole expense of the Lessee.
B. Ownership of Alterations and Improvements. In all cases of alterations,
improvements, changes, accessories and the like that cannot be removed from
the Premises without destroying or otherwise deteriorating the Premises or any
surface thereof shall, upon creation, become the Lessor’s property without need
for any further transfer, delivery or assignment thereof.
10. COMPLIANCE WITH LAW. The Lessee undertakes to comply with and abide by, at its
sole expense, any and all Federal or Alabama state laws, municipal or county
ordinances, rules, regulations, codes and all other issuances from authorized
government authorities respecting the Premises and the Lessee’s occupation and use
thereof, including but not limited to obtaining all pertinent licenses and permits and
maintaining copies thereof in the Premises.
11. OBLIGATIONS OF THE LESSEE:
A. The Lessee shall keep the premises in a clean, sanitary, neat and presentable
condition.
B. The Lessee shall be responsible for the repairs, outside of ordinary wear and
tear, of any part of the Premises that do not affect the structural parts of the
building or structure in which it is located or those that are generally considered
as minor repair (“Minor Repairs”) including but not limited to replacing light
bulbs, cleaning or repairs of windows, doors, toilets and similar appurtenances.
C. The Lessee shall, at its sole expense restore, repair and/or rectify any damage,
outside of ordinary wear and tear, to the Premises caused by the Lessee or
others that the lessee permits into the Premises that are not covered or
compensable by any insurance.
12. ASSIGNMENT. The Lessee acknowledges that this Lease is not transferrable and that
the Lessee may not assign the Lease, any part of the Lease or any of the rights or
obligations herein without the prior express and written consent of the Lessor. The
Lessee shall not sublet, sublease or otherwise grant any other party any license or right
in relation to the Premises or this Lease without such consent. Any license, assignment,
sublease or agreement in violation of this clause shall be null and void with no legal
force whatsoever.
13. RIGHT OF ENTRY. The Lessor shall, upon giving _____days’ notice, be granted by the
Lessee access and allowed by the latter to enter the Premises to make necessary
inspections, repairs or alterations on the property, or pursuant to any lawful purpose as
the Lessor, provided that the time of entry requested is reasonable considering the
purpose.
14. DAMAGE TO LEASED PREMISES. If the event that the Premises and/or the structure
or building in which it is located is damaged or destroyed by fire or other casualty
without the fault or negligence of the Lessee or his agents, the Lessor shall, at its own
expense, repair the damaged portion, the Premises, structure and/or building to restore
the same to substantially the condition in which it was handed over to Lessee. The Rent
shall be abated until such repairs are completed.
In the event such repair cannot be accomplished or of total destruction the Lease shall
cease and terminate with no early termination or other liability accruing to either of the
Parties.
15. DEFAULT AND POSSESSION. If Rent is not paid within ____ days of the Due Date,
the Rent shall be considered past due and a late fee of ☐ $_________ or ☐ ____ % of
the Rent past due shall be applied for every ☐ day Rent is late or ☐ occurrence Rent is
late.
In the event that the Lessee fails to pay Rent on the Due date or is in default of any of
the terms of this Lease, the Lessor shall promptly provide the Lessee with a notice of
such default, informing the Lessee that failure to rectify the same within _____ days will
terminate the Lease and allow the Lessor to recover the premises at the end of such
period. Should the Lessee fail to rectify the same within _____ days after receiving such
Notice of Default, the Lessor may terminate this Lease and recover the Premises from
the Lessee. In such an event, the Lessor may hold the Lessee’s possessions found in the
Premises as security until sums owed by the Lessee has been paid.
16. SURRENDER OF PREMISES. On or before 11:59 P.M. on the last day of the Lease
Term, the Lessee shall deliver up vacant possession of the Premises to Lessor more or
less in the condition it was delivered to the Lessee, save ordinary wear and tear, and the
Parties shall carry out the inspection of the Premises and shall sign a handover form
jointly prepared and signed by Parties to confirm the condition and handover of the
Premises. The Lessee shall also return all keys and other devices giving access to any
part of the Premises and the building or structure in which it is located.
Without prejudice to the foregoing, the Lessee shall at its expense, at the request of
Lessor, immediately make good any deficiencies identified during the handover
inspection and remove from the Premises any alterations, fixtures or property of Lessee
that Lessor requests to be removed, provided that the same were not existing in the
Premises delivered by the Lessor or do not consist of alterations or improvements
consented to by the Lessor as provided in Section 9 hereof.
Failure of the Lessee to return the Premises to Lessor in accordance with the above,
shall entitle the Lessor to enter the Premises and carry out appropriate repair to the
Premises and removal of any property of Lessee and any cost so incurred shall be borne
by Lessee. All property left in the Premises by Lessee shall be deemed to have been
abandoned by Lessee and Lessor shall be entitled to dispose of the same as Lessor
deems appropriate.
17. INDEMNIFICATION. The Lessor shall not be liable for any injury to the Lessee or any
other persons or property entering the Premises occurring within the Premises during
the Lease Term. Neither shall the Lessor be liable for any damage to the structure within
which the Premises is located or any part thereof. The Lessor hereby agrees to hold the
Lessor harmless from and indemnify the Lessor for any and all claims or damage not
arising solely from the Lessor’s acts, omission, fault or negligence.
18. GOVERNING LAW. This Lease shall be governed by and its terms and conditions be
interpreted according to the laws of the State of Alabama.
19. NOTICE. All notices in relation to this Lease shall be delivered to the following
addresses:
To the Lessee at the address:
________________________________________________________________
________________________________________________________________
________________________________________________________________;
and
To Lessor at the address:
________________________________________________________________
________________________________________________________________
________________________________________________________________.
20. SEVERABILITY. Should any provision of this Lease be found, for whatever reason,
invalid or unenforceable, such nullity or unenforceability shall be limited to those
provisions. All other provisions herein not affected by such nullity or dependent on such
invalid or unenforceable provisions shall remain valid and binding and shall be
enforceable to the full extent allowed by law.
21. BINDING EFFECT. The terms, obligations, conditions and covenants of this Lease
shall be binding on Lessee, the Lessor, their heirs, legal representatives and successors
in interest and shall inure to the benefit of the same.
22. ENTIRE AGREEMENT. This Lease and, if any, attached documents are the complete
agreement between the Lessor and the Lessee concerning the Premises. There are no
oral agreements, understandings, promises, or representations between the Lessor and
the Lessee affecting this Lease. All prior negotiations and understandings, if any,
between the Parties hereto with respect to the Premises shall be of no force or effect
and shall not be used to interpret this Lease. No modification or alteration to the terms
or conditions of this Lease shall be binding unless expressly agreed to by the Lessor and
the Lessee in a written instrument signed by both Parties.
IN WITNESS WHEREOF, the parties hereto set their hands and seal this ____ day of
_________________, 20____.
Lessee’s Signature Printed Name
________________________ ________________________
Lessor’s Signature Printed Name
________________________ ________________________
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ACKNOWLEDGMENT OF NOTARY PUBLIC
STATE OF ALABAMA
_____________ County, ss.
On this ____ day of _______________________, 20___, before me appeared
____________________, as LESSOR of this Commercial Lease Agreement who proved to
me through government issued photo identification to be the above-named person, in
my presence executed foregoing instrument and acknowledged that they executed the
same as their free act and deed.
____________________________
Notary Public
My commission expires:_________
ACKNOWLEDGMENT OF NOTARY PUBLIC
STATE OF ALABAMA
_____________ County, ss.
On this ____ day of _______________________, 20___, before me appeared
____________________, as LESSEE of this Commercial Lease Agreement who proved to
me through government issued photo identification to be the above-named person, in
my presence executed foregoing instrument and acknowledged that they executed the
same as their free act and deed.
____________________________
Notary Public
My commission expires:_________
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ALABAMA COMMERCIAL LEASE AGREEMENT (iPropertyManagement)

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Completed 6 November 2020

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