COMMERCIAL LEASE AGREEMENT
THIS COMMERCIAL LEASE AGREEMENT (the "Agreement") is entered into on this, ______________ _____, ________.
BY AND BETWEEN:
For and in consideration of the covenants and obligations contained herein the name parties do hereby agree as follows:
- THE COMMERCIAL PROPERTY
Landlord shall rent to Tenant the property located at , (the "Premises").
Tenants shall comply with any and all laws, ordinances, rules and orders of any and all governmental authorities affecting the cleanliness, use, occupancy and preservation of the Premises.
Tenants shall inform Landlord of any condition that may cause damage to the Premises. If the Premises, or any part of the Premises, is partially damaged by fire or other casualty not due to the negligence or willful act of the Tenants or an agent of the Tenants, the Premises will be immediately repaired by the Landlord and there will be an abatement of rent corresponding with the time during which the Premises was untreatable.
The Premises will be used for the following and for no other purpose: .
Tenants shall pay to Landlord Dollars ($ CAD) every (the "Rent"). Payments will be made on or before for the entire term of this Agreement. Should the Landlord wish to raise the Rent the Landlord will provide days notice to the Tenants.
Payments are to be made at In the event that any payment by Tenants is returned for insufficient funds ("NSF") or a stop payment, Tenants shall reimburse Landlord any related charges or fees incurred. Landlord may also require in writing that Tenants pay Rent in cash for three months, and that all future Rent payments shall be remitted by Tenants to Landlord by money order or cashier's check.
- COMMERCIAL PROPERTY GUIDELINES AND RESTRICTIONS
The Tenants shall comply with all obligations required by tenants by applicable provisions of the building, house and health codes; maintain the Property in good condition during the entire length of this, the Agreement, and will neither cause nor allow any abuse of the facilities therein.
The Tenants will notify the Landlord of any condition that may create harm or cause damage to the Property. If the Property, or any part of the Property is partially damaged by fire or other casualty not due to the negligence or willful act of the Tenants or an agent of the Tenants, the Property will be immediately repaired by the Landlord and there will be an abatement of rent corresponding with the time during which the Property was untreatable.
Upon the termination or expiration of this Agreement the Tenants shall redeliver the property, amenities, furniture, appliances and any other applicable aspects of the Property, in as good condition as at the commencement of the Agreement or as may be put in during the Agreement. Reasonable wear and tear from use and obsolescence to the Property shall be accepted. Furthermore, the Landlord retains a Landlords Lien on all personal property placed upon the premises to secure the payment of rent and any damages to the property.
- COMMERCIAL PROPERTY ALTERATIONS
Tenants shall make no alterations, construct any additions or make any other improvements to the Premises without prior written consent of Landlord. Any and all alterations, changes, and/or improvements built, constructed or placed on the Premises by Tenant shall, unless otherwise provided by written agreement between Landlord and Tenant, be and become the property of Landlord and remain on the Premises at the expiration or earlier termination of this Agreement.
Tenants is responsible for insurance on any personal property. Landlord will not be responsible for any damage caused by fire, theft, rain, war, acts of God, acts of others, and/or any other causes, nor shall Landlord be held liable for such losses. Tenants are hereby advised to obtain an insurance policy to cover any personal losses.
If the Premises or any other part of the Building is damaged by fire or other casualty resulting from any act or negligence of Tenant or any of Tenant's agents, employees or invitees, rent shall not be diminished or abated while such damages are under repair, and Tenant shall be responsible for the costs of repair not covered by insurance.
- QUIET ENJOYMENT
Tenants shall be entitled to quiet enjoyment of the Premises for the term of this Agreement provided that the Tenants pays rent in a timely manner and performs all covenants and obligations under this Agreement. Tenants agree not to interfere with the quiet enjoyment of neighboring occupants.
- POSSESSION AND SURRENDER OF THE COMMERCIAL PROPERTY
At the expiration of the Agreement Term, Tenants shall immediately surrender the Premises to the Landlord in the same condition as at the start of the Agreement, reasonable wear and tear elements are acceptable. The Tenants shall return a complete set of keys to the Landlord and provide in writing, a forwarding address. If any Tenant remains on the Premises after the expiration or termination of this Agreement without written permission from the Landlord, the Landlord may recover possession of the Premises in the manner provided for by law.
Abandonment is defined as absence of the Tenants from the premises for a period of seven (7) or more consecutive days while rent or any owing monies remain unpaid - whereupon Tenants will be considered in breach of this Agreement. If Tenants abandons the Premises during the term of this Agreement, the Landlord may enter the Premises by any legal means, without being liable for such entering, and without becoming liable to the Tenants for damages caused upon entering. Landlord may consider any personal property belonging to the Tenants and left on the property to also have been abandoned, in which case the Landlord may dispose of all such personal property in any manner the Landlord deems proper without becoming liable to the Tenants for doing so.
The Landlord may at its option terminate the Agreement and re-let the Premises, and may receive and collect all rent payable by virtue of such re-letting. Had this Agreement continued in force, the Landlord may hold the Tenants liable for any difference between the rent that would have been payable under this Agreement during the balance of the unexpired term and the net rent for such period realized by the Landlord by means of the re-letting.
Any amendment or modification of this Agreement or additional obligation assumed by either party in connection with this Agreement will only be binding if evidenced in writing signed by both parties.
- LEGAL FEES
If the Tenants is in breach of this Agreement, and the Landlord finds it necessary to enforce this Agreement, or collect rental or other damages, through an attorney or in a legal action, the Landlord shall be indemnified by the Tenants for any reasonable attorneys' fees and out-of-pocket costs which in any way relate to, or were precipitated by, the breach of this Agreement by the Tenants.
The Landlords failure to enforce or insist on compliance with any provisions of this Agreement shall not be deemed a waiver nor a limitation of the Landlords right to enforce or insist on compliance with the provisions of this Agreement.
- BINDING EFFECT
Except as otherwise provided in this Agreement, all of the covenants, conditions, and provisions of this Agreement shall apply to and bind the parties and the heirs, personal representatives, successors, and assigns of the parties.
- ENTRY BY LANDLORD
In addition to the rights provided by the laws applicable to the Province of , the Landlord shall have the right to enter the Premises at all reasonable times for the purpose of inspecting the and/or showing the same to prospective tenants or purchasers, and to make such reasonable repairs and alterations as may be deemed necessary by the Landlord for the preservation of the Premises or the building. The Landlord shall give reasonable notice of intent to enter Premises ( days) except in the case of an emergency.
Should any conflicts arise between any party of this Agreement and the applicable legislation of the Province of , the Provincial Laws will prevail and such provisions of the Agreement will be amended or deleted as necessary in order to comply with the Provincial Laws. Furthermore, any provisions that are required by Provincial Laws may be subsequently incorporated into this Agreement.
In the event any of the provisions of this Agreement are held to be invalid or unenforceable in whole or in part, those provisions to the extent enforceable and all other provisions will nevertheless continue to be valid and enforceable as though the invalid or unenforceable parts had not been included in this Agreement.
If Tenants fails to fulfill or perform any obligation under this Agreement, Tenants shall be in default of this Lease. Tenants shall receive days' notice by Landlord to cure the default (i.e. Non-payment of rent). In the event Tenants does not cure a default, Landlord may at Landlord option cure such default and the cost will be added to Tenants financial obligations under this lease, or declare Tenants in default of the Agreement. Landlord may re-enter the premises and re-take possession of the Premises in the event of default. After default, Tenants may be held liable for the balance of the unpaid rent under this Agreement if Landlord cannot re-let the Premises during the remaining term of this Agreement.
- ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the parties and supersedes any prior written or oral covenants or representations relating thereto and not set forth herein shall be binding on either party hereto. This Agreement may not be amended, modified, extended, or supplemented except by written instrument executed by the Landlord and Tenants. The Landlord has made no representation or warranty to Tenants except as herein expressly set forth.
- GOVERNING LAW
This Agreement shall be governed and construed in accordance with the laws of the Province of .
- HEADINGS AND INTERPRETATION
Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. In interpreting the language of this Agreement, the Landlord and Tenant will be treated as having drafted this Agreement after meaningful negotiations. The language in this Agreement will be construed as to its fair meaning and not strictly for or against either Party.
The parties hereby indicate by their signatures below that they have read and agree with the terms and conditions of this Agreement in its entirety.
______________ _____, ________.