Massachusetts Commercial Lease
This Lease Agreement made the ____ day of _________________,
20____, by and between _____________________________________ [name of
lessor], of ________________________________________________ [street
address], State of ________________, hereinafter referred to as "Lessor", and
_____________________________________ [name of lessee], of
________________________________________________ [street address],
State of ________________, hereinafter referred to as "Lessee", collectively
referred to herein as the “Parties”, agree as follows:
I. Property Description The Lessor agrees to lease to the Lessee the
following described _________ square feet (SF) of _____________ [type
of space] located at ______________________________
___________________________ [street address], State of Massachusetts.
Additional Description: ______________________________________________
Hereinafter known as the “Premises”.
II. Lease Duration Length: The term of this Lease shall be for a period of
____ year(s) ____ month(s) commencing on the ____ day of
_________________, 20____ and expiring at Midnight on the ____ day of
_________________, 20____. (“Initial Term”)
III. Base Rental Payment: The net monthly payment shall be
__________________ dollars ($_______________), payable monthly with
the first payment due upon the commencement of the Lease and each
monthly installment payable thereafter on the ____ day of each month.
Said net monthly payment is-hereafter referred to as the "Base Rent".
Rent for any period during the term hereon, which is for less than 1 month
shall be a pro-rata portion of the monthly rent.
IV. Premises Use: The Lessor is leasing the Premises to the Lessee and the
Lessee is hereby agreeing to lease the Premises for the following use and
Any change in use or purpose the Premises other than as described
above shall be upon prior written consent of Lessor only.
V. Option to Renew: (Check One)
- Lessee may not renew the Lease.
- Lessee may have the right to renew the Lease with a total of ____
renewal period(s) with each term being ____ year(s) ____ month(s) which
may be exercised by giving written notice to Lessor no less than 60 days
prior to the expiration of the Lease or renewal period.
Rent for each option period shall: (Check One)
- Not increase.
- Increase as calculated by multiplying the Base Rent by the
annual change in the Consumer Price Index (CPI) published by the
Bureau of Labor Statistics by the most recent publication to the
option period start date.
- Increase by ____%
- Increase by ___________________ dollars
VI. Expenses: [Check and Initial whether this Lease is Gross, Modified
Gross, or Triple Net (NNN)]
- Gross. Tenant’s Initials _____ Landlord’s Initials _____
It is the intention of the Parties that this Lease be considered a Gross
Lease and as such, the Base Rent is the entirety of the monthly rent.
Therefore, the Lessee is not obligated to pay any additional expenses
which includes utilities, real estate taxes, insurance (other than on the
Lessee’s personal property), charges or expenses of any nature
whatsoever in connection with the ownership and operation of the
Premises. The Lessor shall be obligated to maintain the general exterior
structure of the Premises, in addition, shall maintain all major systems
such as the heating, plumbing, and electrical. The parking area shall be
maintained by the Lessor including the removal of any snow or
environmental hazards as well as the grounds and lands surrounding the
Premises. The Lessor shall maintain at their expense casualty insurance
for the Premises against loss by fire which may or may not include any
extended coverage. The Lessee will provide and maintain personal liability
and property damage insurance as a lessee, at least to the limits of One
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Million Dollars ($1,000,000.00), that will designate the Lessor as an "also
named insured", and shall provide the Lessor with a copy of such
insurance certification or policy prior to the effective date of this Lease.
. Modified Gross. Tenant’s Initials _____ Landlord’s Initials _____
It is the intention of the Parties 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). Tenant’s Initials _____ Landlord’s Initials _____
It is the intention of the Parties that this Lease shall be considered a
“Triple Net Lease”.
1) Operating Expenses. The Lessor shall have no obligation to
provide any services, perform any acts, or pay expenses,
charges, obligations or costs of any kind whatsoever with
respect to the Premises. The Lessee hereby agrees to pay one-
hundred percent (100%) of any and all Operating Expenses as
hereafter defined for the entire term of the Lease and any
extensions thereof in accordance with specific provisions
hereinafter set forth. The term “Operating Expenses” shall
include all costs to the Lessor of operating and maintaining the
Premises, and shall include, without limitation, real estate and
personal property taxes and assessments, management fee(s),
heating, air conditioning, HVAC, electricity, water, waste
disposal, sewage, operating materials and supplies, service
agreements and charges, lawn care, snow removal, restriping,
repairs, repaving, cleaning and custodial, security, insurance,
the cost of contesting the validity or applicability of any
governmental acts which may affect operating expenses, and all
other direct operating costs of operating and maintaining the
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Premises and related parking areas, unless expressly excluded
from operating expenses.
2) Taxes. Lessee shall pay, during the term of this Lease, the real
estate taxes including any special taxes or assessments
(collectively, the "taxes") attributable to the Premises and
accruing during such term. Lessee, at Lessor’s option, shall pay
to Lessor said taxes on a monthly basis, based on one-twelfth
(1/12) of the estimated annual amount for taxes. Taxes for any
fractional calendar year during the term hereof shall be
prorated. In the event the Lessee does not make any tax
payment required hereunder, Lessee shall be in default of this
3) Insurance. Lessee shall maintain, at all times during the Term of
this Lease, comprehensive general liability insurance in an
insurance company licensed to do business in the
Massachusetts in which the Premises are located and that is
satisfactory to Lessor, properly protecting and indemnifying
Lessor with single limit coverage of not less than
______________________ dollars ($__________________) for
injury to or ______________________ dollars
($__________________) death of persons and
______________________ dollars ($__________________) for
property damage. During the Term of this Lease, Lessee shall
furnish the Lessor with certificate(s) of insurance, in a form
acceptable to Lessor, covering such insurance so maintained by
Lessee and naming Lessor and Lessor's mortgagees, if any, as
additional insured.
VII. Security Deposit: In addition to the above, a deposit in the amount of
______________________ dollars ($__________________), shall be due
and payable in advance or at the signing of this Lease, hereinafter
referred to as the “Security Deposit”, and shall be held in escrow by the
Lessor in a separate, interest-bearing savings account as security for the
faithful performance of the terms and conditions of the Lease. The
Security Deposit may not be used to pay the last month’s rent unless
written permission is granted by the Lessor.
VIII. Leasehold Improvements: The Lessee agrees that no leasehold
improvements, alterations or changes of any nature, (except for those
listed on any attached addenda) shall be made to the leasehold premises
or the exterior of the building without first obtaining the consent of the
Lessor in writing, which consent shall not be unreasonably withheld, and
thereafter, any and all leasehold improvements made to the Premises
which become affixed or attached to the leasehold Premises shall remain
the property of the Lessor at the expiration or termination of this Lease
Agreement. Furthermore, any leasehold improvements shall be made only
in accordance with applicable federal, state or local codes, ordinances or
regulations, having due regard for the type of construction of the building
housing the subject leasehold Premises. If the Lessee makes any
improvements to the Premises the Lessee shall be responsible payment,
except the following
Nothing in the Lease shall be construed to authorize the Lessee or any
other person acting for the Lessee to encumber the rents of the Premises
or the interest of the Lessee in the Premises or any person under and
through whom the Lessee has acquired its interest in the Premises with a
mechanic’s lien or any other type of encumbrance. Under no circumstance
shall the Lessee be construed to be the agent, employee or representative
of Lessor. In the event a lien is placed against the Premises, through
actions of the Lessee, Lessee will promptly pay the same or bond against
the same and take steps immediately to have such lien removed. If the
Lessee fails to have the Lien removed, the Lessor shall take steps to
remove the lien and the Lessee shall pay Lessor for all expenses related
to the Lien and removal thereof and shall be in default of this Lease.
IX. Licenses and Permits: A copy of any and all local, state or federal
permits acquired by the Lessee which are required for the use of the
Premises shall be kept on site at all times and shall be readily accessible
and produced to the Lessor and/or their agents or any local, state, or
federal officials upon demand.
X. Obligations of Lessee: The Lessee shall be primarily responsible
whenever needed for the maintenance and general pickup of the
entranceway leading into the Premises, so that this is kept in a neat, safe
and presentable condition. The Lessee shall also be responsible for all
minor repairs and maintenance of the leasehold Premises, particularly
those items which need immediate attention and which the Lessees, or
their employees, can do and perform on their own, including but not
limited to, the replacement of light bulbs, as well as the normal repair and
cleaning of windows, cleaning and clearing of toilets, etc., and the Lessee
shall properly maintain the Premises in a good, safe, and clean condition.
The Lessee shall properly and promptly remove all rubbish and hazardous
wastes and see that the same are properly disposed of according to all
local, state or federal laws, rules regulations or ordinances.
In the event the structure of the Premises is damaged as a result of any
neglect or negligence of Lessee, their employees, agents, business
invitees, or any independent contractors serving the Lessee or in any way
as a result of Lessee’s use and occupancy of the Premises, then the
Lessee shall be primarily responsible for seeing that the proper claims are
placed with the Lessee’s insurance company, or the damaging party's
insurance company, and shall furthermore be responsible for seeing that
the building is safeguarded with respect to said damage and that all
proper notices with respect to said damage, are made in a timely fashion,
including notice to the Lessor, and the party or parties causing said
damage. Any damage that is not covered by an insurance company will be
the liability of the Lessee.
The Lessee shall, during the term of this Lease, and in the renewal
thereof, at its sole expense, keep the interior of the Premises in as good a
condition and repair as it is at the date of this Lease, reasonable wear and
use excepted. This obligation would include the obligation to replace any
plate glass damaged as a result of the neglect or acts of Lessee or her
guests or invitees. Furthermore, the Lessee shall not knowingly commit
nor permit to be committed any act or thing contrary to the rules and
regulations prescribed from time to time by any federal, state or local
authorities and shall expressly not be allowed to keep or maintain any
hazardous waste materials or contaminates on the Premises. Lessee shall
also be responsible for the cost, if any, which would be incurred to bring
her contemplated operation and business activity into compliance with any
law or regulation of a federal, state or local authority.
XI. Insurance: In the event the Lessee shall fail to obtain insurance required
hereunder and fails to maintain the same in force continuously during the
term, Lessor may, but shall not be required to, obtain the same and
charge the Lessee for same as additional rent. Furthermore, Lessee
agrees not to keep upon the Premises any articles or goods which may be
prohibited by the standard form of fire insurance policy, and in the event
the insurance rates applicable to fire and extended coverage covering the
Premises shall be increased by reason of any use of the Premises made
by Lessee, then Lessee shall pay to Lessor, upon demand, such increase
in insurance premium as shall be caused by said use or Lessee’s
proportionate share of any such increase.
XII. Sublet/Assignment: The Lessee may not transfer or assign this Lease, or
any right or interest hereunder or sublet said leased Premises or any part
thereof without first obtaining the prior written consent and approval of the
XIII. Damage to Leased Premises: In the event the building housing the
Premises shall be destroyed or damaged as a result of any fire or other
casualty which is not the result of the intentional acts or neglect of Lessee
and which precludes or adversely affects the Lessee’s occupancy of the
Premises, then in every such cause, the rent herein set forth shall be
abated or adjusted according to the extent to which the leased Premises
have been rendered unfit for use and occupation by the Lessee and until
the demised Premises have been put in a condition at the expense of the
Lessor, at least to the extent of the value and as nearly as possible to the
condition of the Premises existing immediately prior to such damage. It is
understood, however, in the event of total or substantial destruction to the
Premises that in no event shall the Lessor's obligation to restore, replace
or rebuild exceed an amount equal to the sum of the insurance proceeds
available for reconstruction with respect to said damage.
XIV. Default and Possession: In the event that the Lessee shall fail to pay
said rent, and expenses as set forth herein, or any part thereof, when the
same are due and payable, or shall otherwise be in default of any other
terms of said Lease for a period of more than 15 days, after receiving
notice of said default, then the parties hereto expressly agree and
covenant that the Lessor may declare the Lease terminated and may
immediately re-enter said Premises and take possession of the same
together with any of Lessee’s personal property, equipment or fixtures left
on the Premises which items may be held by the Lessor as security for the
Lessee’s eventual payment and/or satisfaction of rental defaults or other
defaults of Lessee under the Lease. It is further agreed, that if the Lessee
is in default, that the Lessor shall be entitled to take any and all action to
protect its interest in the personal property and equipment, to prevent the
unauthorized removal of said property or equipment which threatened
action would be deemed to constitute irreparable harm and injury to the
Lessor in violation of its security interest in said items of personal property.
Furthermore, in the event of default, the Lessor may expressly undertake
all reasonable preparations and efforts to release the Premises including,
but not limited to, the removal of all inventory, equipment or leasehold
improvements of the Lessee’s, at the Lessee’s expense, without the need
to first procure an order of any court to do so, although obligated in the
interim to undertake reasonable steps and procedures to safeguard the
value of Lessee’s property, including the storage of the same, under
reasonable terms and conditions at Lessee’s expense, and, in addition, it
is understood that the Lessor may sue the Lessee for any damages or
past rents due and owing and may undertake all and additional legal
remedies then available.
In the event any legal action has to be instituted to enforce any terms or
provisions under this Lease, then the prevailing party in said action shall
be entitled to recover a reasonable attorney's fee in addition to all costs of
said action.
Rent which is in default for more than _____ days after due date shall
accrue a payment penalty of one of the following:
(Choose One)
- Interest at a rate of _______________ percent (_____%) per annum
on a daily basis until the amount is paid in full.
- Late fee of ______________________ dollars
($__________________) per day until the amount is paid in full.
In this regard, all delinquent rental payments made shall be applied first
toward interest due and the remaining toward delinquent rental payments.
XV. Indemnification: The Lessee hereby covenants and agrees to indemnify,
defend and hold the Lessor harmless from any and all claims or liabilities
which may arise from any cause whatsoever as a result of Lessee’s use
and occupancy of the Premises, and further shall indemnify the Lessor for
any losses which the Lessor may suffer in connection with the Lessee’s
use and occupancy or care, custody and control of the Premises. The
Lessee also hereby covenants and agrees to indemnify and hold harmless
the Lessor from any and all claims or liabilities which may arise from any
latent defects in the subject Premises that the Lessor is not aware of at
the signing of the lease or at any time during the lease term.
XVI. Bankruptcy - Insolvency: The Lessee agrees that in the event all or a
substantial portion of the Lessee’s assets are placed in the hands of a
receiver or a Trustee, and such status continues for a period of 30 days,
or should the Lessee make an assignment for the benefit of creditors or be
adjudicated bankrupt; or should the Lessee institute any proceedings
under the bankruptcy act or any amendment thereto, then such Lease or
interest in and to the leased Premises shall not become an asset in any
such proceedings and, in such event, and in addition to any and all other
remedies of the Lessor hereunder or by law provided, it shall be lawful for
the Lessor to declare the term hereof ended and to re-enter the leased
land and take possession thereof and all improvements thereon and to
remove all persons therefrom and the Lessee shall have no further claim
XVII. Subordination and Attornment: Upon request of the Lessor, Lessee will
subordinate its rights hereunder to the lien of any mortgage now or
hereafter in force against the property or any portion thereof, and to all
advances made or hereafter to be made upon the security thereof, and to
any ground or underlying lease of the property provided, however, that in
such case the holder of such mortgage, or the Lessor under such Lease
shall agree that this Lease shall not be divested or in any way affected by
foreclosure, or other default proceedings under said mortgage, obligation
secured thereby, or Lease, so long as the Lessee shall not be in default
under the terms of this Lease. Lessee agrees that this Lease shall remain
in full force and effect notwithstanding any such default proceedings under
said mortgage or obligation secured thereby.
Lessee shall, in the event of the sale or assignment of Lessor's interest in
the building of which the Premises form a part, or in the event of any
proceedings brought for the foreclosure of, or in the event of exercise of
the power of sale under any mortgage made by Lessor covering the
Premises, attorn to the purchaser and recognize such purchaser as
Lessor under this Lease.
XVIII. Miscellaneous Terms:
1) Usage by Lessee: Lessee shall comply with all rules, regulations and
laws of any governmental authority with respect to use and occupancy.
Lessee shall not conduct or permit to be conducted upon the Premises
any business or permit any act which is contrary to or in violation of
any law, rules or regulations and requirements that may be imposed by
any authority or any insurance company with which the Premises is
insured, nor will the Lessee allow the Premises to be used in any way
which will invalidate or be in conflict with any insurance policies
applicable to the building. In no event shall explosives or extra
hazardous materials be taken onto or retained on the Premises.
Furthermore, Lessee shall not install or use any equipment that will
cause undue interference with the peaceable and quiet enjoyment of
the Premises by other tenants of the building.
2) Signs: Lessee shall not place on any exterior door, wall or window of
the Premises any sign or advertising matter without Lessor’s prior
written consent and the approval of the
_________________________________ [Municipality]. Thereafter,
Lessee agrees to maintain such sign or advertising matter as first
approved by Lessor in good condition and repair. Furthermore,
Lessee shall conform to any uniform reasonable sign plan or policy
that the Lessor may introduce with respect to the building. Upon
vacating the Premises, Lessee agrees to remove all signs and to repair
all damages caused or resulting from such removal.
3) Pets: Unless otherwise stated in this Lease Agreement, the only pets
that shall be allowed on the Premises are those needed legally due to
a disability or handicap.
4) Condition of Premises/Inspection by Lessee: The Lessee has had the
opportunity to inspect the Premises and acknowledges with its
signature on this lease that the Premises are in good condition and
comply in all respects with the requirements of this Lease.
Furthermore, the Lessor makes no representation or warranty with
respect to the condition of the Premises or its fitness or availability for
any particular use, and the Lessor shall not be liable for any latent or
patent defect therein. Furthermore, the Lessee represents that Lessee
has inspected the Premises and is leasing and will take possession of
the Premises with all current fixtures present in their “as is” condition
as of the date hereof.
5) Right of Entry: It is agreed and understood that the Lessor and its
agents shall have the complete and unencumbered right of entry to the
Premises at any time or times for purposes of inspecting or showing
the Premises and for the purpose of making any necessary repairs to
the building or equipment as may be required of the Lessor under the
terms of this Lease or as may be deemed necessary with respect to
the inspection, maintenance or repair of the building.
XIX. Estoppel Certificate: Lessee at any time and from time to time, upon at
least ten (10) days prior notice by Lessor, shall execute, acknowledge and
deliver to Lessor, and/or to any other person, firm or corporation specified
by Lessor, a statement certifying that the Lease is unmodified and in full
force and effect, or if the Lease has been modified, then that the same is
in full force and effect except as modified and stating the modifications,
stating the dates to which the fixed rent and additional rent have been
paid, and stating whether or not there exists any default by Lessor under
this Lease and, if so, specifying each such default.
XX. Holdover: Should Lessee remain in possession of the Premises after the
cancellation, expiration or sooner termination of the Lease, or any renewal
thereof, without the execution of a new Lease or addendum, such holding
over in the absence of a written agreement to the contrary shall be
deemed, if Lessor so elects, to have created and be construed to be a
tenancy from month to month, terminable upon thirty (30) days notice by
either party.
XXI. Waiver: Waiver by Lessor of a default under this Lease shall not
constitute a waiver of a subsequent default of any nature.
XXII. Governing Law: This Lease shall be governed by the laws of the State of
XXIII. Notices: Payments and notices shall be addressed to the following:
XXIV. Amendment: No amendment of this Lease shall be effective unless
reduced to writing and subscribed by the parties with all the formality of
the original.
XXV. Binding Effect: This Lease and any amendments thereto shall be binding
upon the Lessor and the Lessees and/or their respective successors,
heirs, assigns, executors and administrators.
IN WITNESS WHEREOF, the parties hereto set their hands and seal this ____
day of _________________, 20____.
Lessee’s Signature: _______________________________________________
Printed Name: _____________________________________ Date: __________
Lessor’s Signature: _______________________________________________
Printed Name: _____________________________________ Date: __________
STATE OF ______________________
_____________ County, ss.
On this ____ day of _______________________, 20___, before me
appeared ____________________, as LESSOR of this Commercial Lease
Agreement who proved to me through government issued photo identification to
be the above-named person, in my presence executed foregoing instrument and
acknowledged that they executed the same as their free act and deed.
Notary Public
My commission expires:_________
STATE OF ______________________
_____________ County, ss.
On this ____ day of _______________________, 20___, before me
appeared ____________________, as LESSEE of this Commercial Lease
Agreement who proved to me through government issued photo identification to
be the above-named person, in my presence executed foregoing instrument and
acknowledged that they executed the same as their free act and deed.
Notary Public
My commission expires:_________