Commercial Lease - Free Download
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Commercial Lease
Each party signing this lease should seek legal advice prior to executing this lease. This lease is a sample and does not constitute legal advice. Page 1 of 4
Commercial Lease
Law Offices of Todd E. Kobernick
This Lease is made between ___________________________________ (Lessor), and ___________________________,
(Tenant). Tenant hereby offers to lease from Lessor the real property located in the City of ____________, State of California,
with a common address of ___________________________________________________, (the Real Property), upon the
following terms and conditions. (This document shall hereafter be referred to as the Lease).
1. Term and Rent. Lessor leases to Lessee the above Real Property for a term of ______________ years, commencing
____________________________, and terminating on __________________________________, or sooner as provided herein at
the annual rental of _____________________________________________________ Dollars ($ ), payable in
equal installments in advance on the first day of each month for that months rental, during the term of this Lease. All rental
payments shall be made to Lessor at the address specified below.
2. Option to Renew. Provided that Tenant is not in default in the performance of this Lease, Tenant shall have the option to renew
the Lease for one (or, if more than one option period given, insert number here _________) additional term(s) of ___________
months commencing at the expiration of the initial Lease term. All of the terms and conditions of the Lease shall apply during the
renewal term except that the monthly rent shall be the sum of $_____________________________ (subject to the restrictions of
paragraph 4, below). The option shall be exercised by written notice given to Lessor not less than ____________________ days
prior to the expiration of the prior Lease term. (If no other time is inserted, notice shall be given ninety (90) days prior to the
expiration of the prior lease term). If notice is not given in the manner provided herein within the time specified, this option shall
lapse and expire.
3. Use. Tenant shall use and occupy the Real Property for the commercial purpose of ____________________. The Real Property
shall be used for no other purpose.
4. SBA Provisions. If this Lease is executed by a Lessor and/or Tenant, who are participating in the U.S. Small Business
Administration 504 Loan Program, then the parties hereto agree and acknowledge that this Lease shall be construed to comply with
the requirements of such program including, but not limited to, those found in Title 13 of the Code of Federal Regulations, the SBA
Standard Operating Procedures 50-10 and all other relevant statutes laws, codes, regulations and procedures. Without limiting the
applicability of all relevant law, the following conditions shall apply:
(1) The Tenant shall lease from Lessor all of the Real Property;
(2) This Lease shall be junior and subordinate to any and all deeds of trust in favor of the SBA which relate to the
Real Property;
(3) The annual rent hereunder shall not exceed the annual payments on the deed of trust in favor of the SBA secured
by the Real Property, annual payments of deeds of trust senior to such SBA deed of trust, taxes, insurance and
(4) This Lease shall be assigned, for collateral purposes, to the SBA.
(5) The term of this Lease shall not expire prior to the maturity date of the subject SBA 504 Loan. Provided, the
Lease term may include options to renew the Lease, so long as the options are exercisable solely by the Tenant.
(6) Any leases of the Real Property other than to the Tenant shall be between the Tenant and the third party
5. Care and Maintenance of Real Property. Tenant acknowledges that the Real Property is in good order and repair, unless
otherwise indicated herein. Tenant shall, at his own expense and at all times, maintain the Real Property in good and safe condition,
including plate glass, electrical wiring, plumbing and heating installations and any other system or equipment upon the Real Property
and shall surrender the same, at termination hereof, in as good condition as received, normal wear and tear excepted.
(Check here if this provision applies.) ___ Tenant shall be responsible for all repairs required, excepting the roof, exterior walls,
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Commercial Lease