Fillable Illinois Commercial Lease Agreement printable pdf download

Approved by Legal Counsel for use by Members of the Board of REALTORS®

This is a legally binding lease. If not understood, consult an attorney.

ILLINOIS COMMERCIAL LEASE AGREEMENT

THIS LEASE is made as of __________________________________________________,

between

______________________________________________________________________________________(“Less

or”),

______________________________________________________________________________________

and

______________________________________________________________________________________(“Less

ee”), with an address of ___________________________________________________________________, who

hereby agree as follows:

PREMISES. Subject to the covenants and conditions of this Lease. Lessor leases to Lessee, and

Lessee

leases

from

Lessor,

the

premises

(the

“Premises”)

commonly

known

and

numbered

__________________________________________________________________________________ in the City

_______________________,

County

____________________________________,

State

__________________,

and

further

described

as:

___________________________________________________________________________

together with the right of ingress and egress and the non-exclusive use of common areas, if any.

USE OF PREMISES . The Premises shall be used only ___________________________________

___________________________________________________________________________________________

__________________________________________________(collectively, the “Permitted Use”).

TERM.

The term of this Lease (the “Term”) is for ___________________________years

and____________

months,

commencing

the

_________________day

of__________________________________,

_________, and ending on the __________ day of _______________________, ___________.

RENT PAYMENTS. Lessee shall pay rent to Lessor $____________________________________

___________________________________________________________________________________________

as rent in monthly installments, each due and payable in advance without notice or demand at Lessor’s above stated

address, or at any other place Lessor designates in writing. The first monthly rent installment of

$_________________________ shall be paid _______________________________________and all subsequent

monthly rent installments shall be due on the _____________ day of each succeeding month during the Term. The

amount of each monthly rent installment shall be as follows:

______________________________________________

5. SECURITY DEPOSIT. Concurrently with execution of this Lease, Lessee shall deliver to Lessor

________________________ as security for the performance by Lessee of every covenant and condition of this

Lease (the “Security Deposit”). Said Security Deposit may be co-mingled with other funds of Lessor and shall bear no

interest. If Lessee shall default with respect to any covenant or condition of this Lease, including, but not limited to the

payment of rent, Lessor may apply the whole or any part of such Security Deposit to the payment of any s um in default

or any sum which Lessor may be required to spend by reason of Lessee’s default. If any portion of the Security Deposit

is so applied, Lessee, upon demand by Lessor, shall deposit cash with Lessor in an amount sufficient to restore the

Security Deposit to its original amount. Should Lessee comply with all of the covenants and conditions of this Lease,

the Security Deposit or any balance thereof shall be returned to Lessee promptly after expiration of the term thereof.

POSSESSION AT BEGIN NING OF TERM. Lessor shall use due diligence to give possession as

nearly as possible at the beginning of the Term. Rent shall abate pro rata for the period of any delay in giving Lessee

possession, but the Term shall not be extended as a result of such delay. Lessee shall make no other claim against

Lessor for delay in obtaining possession.

PROPERTY INSURANCE. Lessee shall comply with all insurance regulations so the lowest property

damage, including loss of rent and liability insurance rates may be obtained; and nothing shall be done or kept in or on

the Premises by Lessee which shall cause an increase in the premium for any such insurance on the Premises or on any

building of which the Premises are a part or on any improvements located therein, over the lowest rate obtainable or

which shall cause cancellation or make void any such insurance. If, during the term, the premium for any such insurance

maintained by Lessor with respect to the premises are so increased as a result of Lessee’s use or occupancy, or if the

premiums for such insurance are increased in excess of the premium charged for the policy year ___________, as a

result of a premium rate increase or an increase in the amount of coverage required, then Lessee shall pay to Lessor, as

additional rent, the amount of such increase within thirty (30) days after receipt of Lessor’s billing statement and demand

for payment of same. The amount payable by Lessee under this section shall be pro rated for the partial years, if any, in

which this Lease commences and terminates. Lessee shall maintain, at all times during the Term, adequate insurance on

its personal property used, stored or kept in the premises.

INDEMNITY AND LIABILITY INSURANCE.

Lessee shall at all times indemnify, defend and hold

Lessor harmless from all loss, liability, costs, damages and expenses that may occur or be claimed with respect to any

Illinois Commercial Lease Agreement

Related Articles

Related forms

Related Categories