Fillable Commercial Lease Agreement Template (Page 2 of 3) in pdf

Commercial Lease Agreement (Page 2 of 3)

10. I ndemnificationofLandlord. Landlord shall not be liable for any damage or injury to Tenant, or any other person, or to

any property occurring on the demised premises or any part thereof, and Tenant agrees to hold Landlord harmless from

any claims for damages, no matter how caused.

11. Insurance. Tenant, at his expense, shall maintain plate glass and public liability insurance including bodily injury and

property damage insuring Tenant and Landlord with minimum coverage as follows:

Tenant shall provide Landlord with a Certificate of Insurance showing Landlord as additional insured. The Certificate

shall provide for a ten-day written notice to Landlord in the event of cancellation or material change of coverage. To the

maximum extent permitted by insurance policies which may be owned by Landlord or Tenant, Tenant and Landlord, for the

benefit of each other, waive any and all rights of subrogation which might otherwise exist.

12. Eminent Domain. If the premises or any part thereof or any estate therein, or any other part of the building materially

affecting Tenant’s use of the premises, shall be taken by eminent domain, this lease shall terminate on the date when the

title vests pursuant to such taking. The rent and any additional rent, shall be apportioned as of the termination date, and

any rent paid for any period beyond that date shall be repaid by Tenant. Tenant shall not be entitled to any part of

the award for such taking or any payment in lieu thereof, but Tenant may file a claim for any taking of fixtures and

improvements owned by Tenant, and for moving expenses.

13. Destruction of Premises. In the event of a partial destruction of the premises during the term hereof, from any cause,

Tenant shall forthwith repair the same, provided that such repairs can be made within sixty (60) days under the existing

governmental laws and regulations, but such partial destruction shall not terminate this lease, except that Tenant shall be

entitled to a proportionate reduction of rent while such repairs are being made, based upon the extent to which the making

of such repairs shall interfere with the business of Tenant on the premises. If such repairs cannot be made within said

sixty (60) days, Landlord, at his option, may make the same within a reasonable time, this lease continuing in effect with

the rent proportionately abated as aforesaid, and in the event that Landlord shall not elect to make such repairs which

cannot be made within said sixty (60) days, this lease may be terminated at the option of either party. In the event that

the building in which the demised premises may be situated is destroyed to an extent of not less than one-third of the

replacement costs thereof, Tenant may elect to terminate this lease whether the demised premises be injured or not.

A total destruction of the building in which the premises my be situated shall terminate this lease.

14. L andlord’sRemediesonDefault. If Tenant defaults in the payment of rent, or any additional rent, or defaults in the

performance of any of the other covenants hereof, Landlord may give Tenant notice of such default and if Tenant does

not cure any such default within thirty (30) days, after giving of such notice (or if such other default), then Landlord may

terminate this lease on not less than thirty (30) days notice to Tenant. On the date specified in such notice the term of this

lease shall terminate, and Tenant shall then quit and surrender the premises to landlord, without extinguishing Tenant’s

liability. If this lease shall have been so terminated by Landlord, Landlord may at any time thereafter resume possession of

the premises by any lawful means and remove Tenant or other occupants and their effects. No failure to enforce any term

shall be deemed a waiver.

15. Security Deposit. Tenant shall deposit with Landlord on the signing of this lease the sum of ______________________

________________________________________________________________________________________________

Dollars ( $____________ ) as security for the performance of Tenant’s obligations under this lease, including without

limitation the surrender of possession of the premises to Landlord as herein provided. If Landlord applies any part of the

deposit to cure any default of Tenant, Tenant shall on demand deposit with Landlord the amount so applied so that

Landlord shall have the full deposit on hand at all times during the term of this lease.

16. Property Taxes. Landlord shall pay, prior to delinquency, all general real estate taxes and installments of special

assessments coming due during the lease term on the Leased Premises, and all personal property taxes with respect to

Landlord’s personal property, if any, on the Leased Premises. Tenant shall be responsible for paying all personal property

taxes with respect to Tenant’s personal property at the Leased Premises.

17. Common Area Expenses. In the event demised premises are situated in a shopping center or in a commercial building

in which there are common areas, Tenant agrees to pay his pro-rata share of maintenance, taxes, and insurance for the

common area.

18. A ttorney’sFees. In case suit should be brought for recovery of premises, or for any sum due hereunder, or because of

any act which may arise out of the possession of the premises, by either party, the prevailing party shall be entitled to all

costs incurred in connection with such action, including a reasonable attorney’s fee.

Commercial Lease Agreement Template Page 2

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