Commercial Lease [1]
Jurisdiction:
- Indiana [3]
Area of Law:
This is an example of a rather lengthy lease that was once used to rent a spot in a shopping center. You probably can find a better form from a broker or agent either when you go to lease or, if you own property, when the listing agent leases it out for you.
Form Preview:
SHOPPING CENTER LEASE
- PARTIES:1.PARTIES
This lease, dated __________________for reference purposes only, is made by and between _________________ (“landlord”) and ________________________ (“tenant”).
2. PREMISES:2.PREMISES
Landlord hereby leases to tenant and tenant hereby leases from landlord that certain shopping center space (the “premises”), said premises designated as __________________________________________________, with an area of approximately _______ square feet.
Said lease is subject to the terms, covenants and conditions herein set forth and the tenant covenants as a material part of the consideration for this lease to keep and perform each and all of said terms, covenants and conditions by it to be kept and performed and that this lease is made upon the conditions of said performances.
3. TERM:3.TERM
the term of this lease shall be for 5 years and 0 months. the term shall commence _________ and end _____________; two 5-YEAR options to renew.
Escape Clause: on the 25th month if sales of the previous year are not greater than $2,000,000 gross, tenant will have the right to terminate said lease.
4.------ POSSESSION:4.POSSESSION