Modified Gross Lease. The Lessor and Lessee must initial the second lease option if the Lessee will be required to pay the net rent as well as some additional expenses. (19)
Modified Gross Lease. Tenant shall be responsible for the following expenses: Landlord shall be responsible for the following expenses: The Landlord and Tenant agree to the following shared expenses:
Modified Gross Lease. If the commercial space will require additional payment(s) from either the Commercial Lessee or the Lessor will be responsible for certain payments, then select the “Modified Gross” lease option. The Lessee and Lessor will both be expected to provide initials of acknowledgment if this definition is selected. (28)
Modified Gross Lease. This is a “modified gross lease,” and the Rent shall be paid without notice, demand, setoff, counterclaim, deduction, or defense, and except as otherwise expressly provided herein, without abatement or suspension. Except as otherwise expressly provided in this Lease, this Lease shall not terminate, nor shall Tenant have any right to terminate this Lease nor shall Tenant be entitled to any abatement or reduction of Rent hereunder, nor shall the obligations of Tenant under this Lease be affected by reason of (a) any damage to or the destruction of all or any part of the Premises from whatever cause, (b) any default on the part of Landlord under this Lease, or under any other agreement to which Landlord and Tenant may be parties, or (c) the bankruptcy, insolvency, reorganization, composition, readjustment, liquidation, dissolution, winding up, or other proceeding affecting Landlord or any assignee of Landlord. It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that the Rent shall continue to be payable in all events, and that the obligations of Tenant hereunder shall continue unaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to an express provision of this Lease. Notwithstanding the foregoing, Tenant shall be entitled to offset against any Rent due Landlord any amounts determined to be owing to Tenant from Landlord pursuant to any final judgment for which an appeal period has expired and no appeal has been taken.
Modified Gross Lease. Essentially, the purpose of a commercial lease is to make sure there are no loose ends that can leave either party at risk. When trying to figure the rental amount, it is a good idea to set the price that is close to what others are asking in your area. Therefore, a signature area for the Lessor (Property Owner or Landlord) has been provided. Generally, this will be the Property Owner or Landlord but will be known as the Lessor for the duration of this paperwork. Supplemental Forms Commercial Rental Application – Allows a landlord to verify the income and credit of a business and its owner. (5) Address Of Lessee. After identifying the Lessee by name, provide his or her mailing address. Download: Adobe PDF, MS Word, OpenDocument Co-Working Space Agreement – For office space that is shared amongst many tenants. When adding your property it is best to have nice looking images of the interior and exterior along with any common areas. Make sure to gather all the information about the property and the tenant and enter into the agreement. This selection must be confirmed through the initials of the Tenant (Lessee) and the Landlord (Lessor). If the Lessor and Xxxxxx agree that this agreement will not be renewed, then mark the first checkbox statement to include this provision. Sometimes improvement to a property may be required to remain compliant with any changes in local law, allow the Lessee’s business to remain competitive, or any number of reasons. Step 9 – Determine the Security Deposit Once the tenant has been approved by the landlord the Security Deposit should be made known to the tenant. This must be settled and documented in Article X by presenting every property improvement that the Lessee will not be required to pay for. (47) Printed Name Of Lessee (48) Lessor’s Signature. Sample: Commercial Lease Agreement Download: Adobe PDF, MS Word, OpenDocument How to Write (instructions) Download in Adobe PDF, Microsoft Word (.docx) or Open Document Text (.odt). Prime industrial properties will be close to major transportation routes and will be up to code for manufacturing purposes. 50% of the fee is paid upon lease execution and the other 50% is paid when the tenant takes occupancy. (31)
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Modified Gross Lease. If the commercial space requires an additional payment from the Lessee commercial or the Lessor will be responsible for certain payments, then select the rental option "Modified Size". Lessee and Lessor will both be required to provide initial recognition if this definition is selected. (28) Modified payments. Use the first area available for the definition of rental `Modified Gross'to list any expenditure that Lessee has to pay in addition to the defined rental amount (i.e. waste disposal) and the second area in this article to list any monthly expenditure the Lessor must keep for the duration of this rental (i.e. water). (29) Triple Net (NNN). If the Lessee will be expected to assume certain responsibilities in addition to the amount of the rent, such as the expenses necessary to operate a business in rented premises the taxes due for the property that Rented rooms, and insurance, then select the "Triple Net (NNN)" option. This selection must be recognized both by the initials of Lessee (â € œTenantâ €) and from the initials of Lessor (â € œlandlordâ €). (â € œlandLordâ €). Accident or death insurance. If Lessee needs to obtain insurance cover to protect Lessor from an accident or death at the premises, select the appropriate check box and make sure that the amount of cover to be maintained is documented. (31) Insurance of damage to property. Select the second option in Article C to indicate that Lessee must get coverage to protect Lessor from property damage. (32) Insurance for victims. To set a minimum amount of loss insurance coverage, Lessee must maintain for the property rented during the duration of the contract, select the third checkbox and enter the minimum required amount of cover. IX. Option to renew (33) Lessee May Not Renew. If Lessor and Lessee agree that this agreement will not be renewed, then xxxx the first checkbox declaration to include this provision. Lessee May Renew. You can establish that the Lessee will have the opportunity to renew by selecting the second checkbox. This provision requires further information. (35)
Modified Gross Lease. It is the intention of the Parties, and they hereby agree, that this Lease shall be considered a “Modified Gross Lease”. In addition to the Base Rent the Lessee shall be obligated to pay the following monthly expenses: ________________________________________________________________________________________________________________________________________________________________________________________________ Lessor shall pay the following monthly expenses: ________________________________________________________________ ________________________________________________________________________________________________________________________________ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ☐ Triple Net (NNN) Lease - Tenant’s Initials _____ Landlord’s Initials _____
Modified Gross Lease. It is the intention of the Parties, and they hereby agree, that this Lease shall be considered a “Modified Gross Lease”. In addition to the Base Rent the Lessee shall be obligated to pay the following monthly expenses: Electrical Usage for Production Equipment.
Modified Gross Lease. Lessee acknowledges and agrees that this Lease is of the type commonly referred to as a "modified gross" Lease, and that accordingly, and without limiting the generality of the foregoing or any other provision of the Lease, Lessee shall be responsible for the payment of its separately metered suite electrical utilities and for its pro-rata share of the increase in the Office Building Project operating expenses over the Base Year, subject to Section 4.2.
