Commercial Lease Agreement NC: Everything You Need To Know
A commercial lease agreement NC is the legal document that governs a commercial property rental in North Carolina.3 min read
A commercial lease agreement NC is the legal document that governs a commercial property rental in North Carolina. This type of agreement should cover all aspects of leasing commercial property, including the rights and responsibilities of both landlord and tenant. The law assumes that those involved in this type of business exchange are operating on an equal, relatively advanced level of understanding.
Sample Commercial Lease Agreement
This sample agreement is reprinted from RentalLease.com.
COMMERCIAL LEASE AGREEMENT
(Single Tenant Facility)
(Note: This form is not intended to be used as a Sublease and SHOULD NOT be used in Sublease circumstances)
THIS LEASE AGREEMENT, including any and all addenda attached hereto ("Lease"), is by and between, a(n) ("Landlord"), (individual or State of formation and type of entity) whose address is and, a(n) ("Tenant"). (individual or State of formation and type of entity) whose address is _______________________________.
☐ If this box is checked, the obligations of Tenant under this Lease are secured by the guaranty of (name(s) of guarantor(s)) attached hereto and incorporated herein by reference.
(Note: Any guaranty should be prepared by an attorney at law.)
For and in consideration of the mutual promises set forth herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:
1. Landlord leases unto Tenant, and Tenant hereby leases and takes upon the terms and conditions which hereinafter appear, the following described property, including any improvements located thereon (hereinafter called the "Premises"), to wit:
All A portion of the property in Deed Reference: Book____ , Page No.____ ,____ County; consisting of approximately _____ acres.
Plat Reference: Lot(s) ______, Block or Section _______ , as shown on Plat Book or Slide _________ at Page(s) __________, _________ County, consisting of _______ acres.
☐ If this box is checked, Premises shall mean that property described on Exhibit A attached hereto and incorporated herewith by reference.
2. The term of this Lease shall commence on ____________ ("Lease Commencement Date"), and shall end at midnight on _________ , unless sooner terminated as herein provided. The first Lease Year Anniversary shall be the date twelve (12) calendar months after the first day of the first full month immediately following the Lease Commencement Date and successive Lease Year Anniversaries shall be the date twelve (12) calendar months from the previous Lease Year Anniversary.
☐ If this box is checked, Tenant shall have the option of renewing this Lease, upon written notice given to Landlord at least _____days prior to the end of the then expiring term of this Lease, for additional term(s) of years each.
(For information purposes only, the tax parcel number of the Premises is: _______________)
☐ Option to Lease- If this box is checked, Tenant, upon the payment of the sum of $ (which sum is not rental or security deposit hereunder, but is consideration for this Option to Lease and is non-refundable under any circumstances) shall have a period of days prior to the Lease Commencement Date ("Option Period") in which to inspect the Premises and make inquiry regarding such sign regulations, zoning regulations, utility availability, private restrictions or permits or other regulatory requirements as Tenant may deem appropriate to satisfy itself as to the use of the Premises for Tenant's intended purposes. Tenant shall conduct all such on-site inspections, examinations, inquiries and other review of the Premises in a good and workmanlike manner, shall repair any damage to the Premises caused by Tenant's entry and on-site inspections and shall conduct same in a manner that does not unreasonably interfere with Landlord's or any tenant's use and enjoyment of the Premises. In that respect, Tenant shall make reasonable efforts to undertake on-site inspections outside of the hours any tenant's business is open to the public and shall give prior notice to any tenants of any entry onto any tenant's portion of the Premises for the purpose of conducting inspections. Upon Landlord's request, Tenant shall provide to Landlord evidence of general liability insurance. Tenant should also have a right to review and inspect other contracts related directly to the premises.
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