Triple net Lease Template - Free Download
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Koenig & Sons, LLC
Commercial Lease
Lease Number 2420-01-2010
Initial:________ Page Number 1 of 11 Pages
COMMERCIAL LEASE
This lease agreement is made and entered into by and between Koenig and Sons, LLC
(Landlord) and _________________ (Tenant). Landlord hereby leases to Tenant and Tenant
hereby leases from Landlord that certain property with the improvements thereon, containing
approximately ____ square feet, hereinafter called the "leased premises", known
as______________________________, City of Fort Smith, Sebastian County, Arkansas.
The primary term of this lease shall be ____ years commencing on the _____ day of
____________, 20___ and ending on the _____ day of ________, 20___ upon the
following terms, conditions and covenants:
1. TAXES. Each year during the term of this lease, Landlord shall pay real estate
taxes assessed against the leased premises for the fair assessed replacement value of the leased
premises. If Landlord pays real estate taxes, Landlord shall pay an amount equal to the total
real estate taxes assessed against the leased premises in the base year, and in such event, each
year during the term of this lease, Tenant shall pay as additional rental, upon receipt of a
statement from Landlord together with copies of tax statements or other verification from the
proper taxing authority, his pro rata share of an increase in real estate taxes over the base year
on the property of which the leased premises is a part. Any increase in real estate taxes for a
fractional year shall be prorated. The base year shall be 20___.
2. UTILITIES. Tenant shall pay all charges for utility services to the leased premises.
3. HOLDING OVER. Failure of Tenant to surrender the leased premises at the
expiration of the lease constitutes a holding over which shall be construed as a tenancy month
to month at a rate of $________ per month. Either party may cancel said month to month
tenancy on one month's advance written notice to the other party.
4. RENT. Tenant agrees to and shall pay Landlord at P.O. Box 999, County of
Sebastian, Arkansas, 72902 or at such other place Landlord shall designate from time to time
in writing, as rent for the leased premises, the total sum of $___________ payable without
demand as follows: Months_l_ through ____, the sum of $________ per month. Each
such payment of rent shall be paid in advance on or before the first day of each month
commencing on ____________ and continuing thereafter until the total sum shall be paid.
