Office Space Lease Agreement - Free Download
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Office Space Lease Agreement
Office Space Lease Agreement
Approved 9/97 by KAR Legal Counsel; Reviewed by KAR Legal Counsel 06/07
Page 1
This is a legally binding contract, if not understood, consult an attorney
("Landlord") and
("Tenant") on this day of _________________________________ which is the Effective Date of this
In consideration of the obligation of Tenant to pay rent and in consideration of the other terms, covenants and conditions hereof, Landlord hereby demises
and leases to Tenant, the Premises to have and to hold for the lease term specified herein, all upon the terms and conditions set forth in this Lease.
1. The following basic provisions shall be construed in conjunction with, and limited by, reference thereto in other provisions of this Lease:
a. "Landlord":
Address of Landlord:
b. "Tenant":
c. "Premises": Approximately (rentable/usable) square feet known as Suite , a portion of the building located at
, being more particularly outlined on the plan attached as Exhibit "A."
d. "Tenant's Percentage": Total rentable area in the above building is
square feet, and Tenant's proportionate share is
percent (known as Tenant's Percentage).
e. "Lease Term": A period of
commencing on , (the "Commencement Date") and ending on
, (the "Expiration Date"), unless sooner terminated in accordance with the provisions of this agreement.
f. "Base Rent": $______________________________, payable in monthly installments in advance, during
the Lease Term according to the following schedule:
Months 1 to
Rent shall be paid to Landlord or the Agent of the Landlord at
, or at such other place as Landlord shall designate.
g. "Additional Rent" shall be Tenant's Percentage of the increase in operating and maintenance expenses as defined in Section 13.
h. "Pre-Paid Rental": $ representing payment of the first monthly installment of rent for the month of .
i. "Security Deposit": $
2. Tenant agrees to pay Base Rent in monthly installments in advance on the first day of each and every month during the term, with pro-ration for any
partial month's occupancy, without demand, setoff, or deduction except Tenant shall pay the first monthly installment concurrently with the execution of
this Lease. Any rent payment not received by Landlord within ten (10) days after its due date shall be subject to a delinquency charge of five percent
(5%) of the amount due each full or partial calendar month the rent remains unpaid. Failure by Tenant to pay the late charge within ten (10) days after
receipt of notice from Landlord that it is due shall, in addition to any other default, constitute a default of this Lease by Tenant.
3. Landlord shall use due diligence to deliver possession of the Premises to Tenant as nearly as possible at the beginning of the term of this Lease. In
the event Landlord cannot deliver possession to Tenant at the Commencement Date, or if Landlord's work is not completed by the Commencement Date,
this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting from such failure, but, except as provided
in Section 4, Tenant shall not be liable for any rent except for the prepaid rental until such time as Landlord can and does deliver possession. The
Expiration Date shall be extended for a period equal to the delay in delivery of possession, plus the number of days necessary to end the term on the last
day of a month. Landlord and Tenant shall execute an amendment to this Lease setting forth revised Commencement and Expiration Dates. In the event
Landlord is unable to deliver possession within six (6) months after the Commencement Date, the Lease shall be null and void and Tenant's pre-paid
rental and the Security Deposit shall be promptly returned to Tenant. If permission is given to Tenant to enter into possession of the Premises prior to the
Commencement Date, Tenant agrees at date of occupancy to be responsible for payment of Base Rent in advance at the rate of 1/30th of the Base
Monthly Rent for each day of occupancy prior to the Commencement Date.
4. Landlord shall deliver possession of the Premises when the Premises have been substantially completed in compliance with the Plans and
Specifications attached as Exhibit "________".
Substantial completion shall mean completion in accordance with the Plans and Specifications and with applicable rules, regulations and
requirements of Governmental authorities. Substantial completion shall occur upon the giving of notice by Landlord accompanied by a certificate from
Landlord's architect. Substantial completion shall have occurred without the completion of minor "punch list" type items, which are minor items of work
or adjustments of equipment and fixtures that can be completed after occupancy. Prior to occupancy, Tenant shall give written notice to the Landlord of
any items which, upon visual inspection, are readily apparent or cosmetic and are not satisfactorily completed (the "punch list" items). Within thirty (30)
days of receipt of the "punch list" items, Landlord shall complete or correct all "punch list" items, or shall address in writing any "punch list" item which
the Landlord, in Landlord's sole opinion, deems to be inconsistent with the standard building industry practices. If Tenant does not notify Landlord of any
"punch list" items before the date Tenant takes occupancy, it will be conclusively presumed the readily apparent or cosmetic items included in the tenant
finish work have been satisfactorily completed and fully accepted by Tenant.
In the event Tenant's plans specify any improvements that are not contained in Exhibit "________" which precludes Landlord from completing the
Premises for Tenant's occupancy by the Commencement Date, or in the event any work to be performed by Tenant or Tenant's contractors delays
Tenant's occupancy by the Commencement Date hereof, Tenant shall remain liable for the payment of rent from the Commencement Date.
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