COMMERCIAL LEASE AGREEMENT

THIS LEASE is made as of [DATE], between [LANDLORD NAME] ("Landlord") and [TENANT NAME] ("Tenant").

1. PREMISES

• Address: [FULL ADDRESS INCLUDING UNIT]
• Rentable Area: [SQ FT / SQ M]
• Permitted Use: [DESCRIBE PERMITTED BUSINESS USE]
• Common Areas: [DESCRIBE / N/A]

2. TERM

• Commencement Date: [DATE]
• Termination Date: [DATE]
• Term: [NUMBER] [MONTHS/YEARS]
• [ ] Renewal option: [NUMBER] terms of [DURATION] at [RENT TERMS]

3. BASE RENT

• Initial Base Rent: $[AMOUNT] per [MONTH/YEAR]
• Payment Due: [DAY] of each month
• Rent Commencement Date: [DATE / DATE OF POSSESSION]
• Payment Method: [E-TRANSFER / CHEQUE / WIRE]

4. ADDITIONAL RENT

4.1 Operating Costs (TMI)

• [ ] Tenant pays a proportionate share (% = [%]) of:
  • Property taxes
  • Insurance
  • Maintenance
• Estimated monthly: $[AMOUNT], reconciled annually.

4.2 Utilities

• [ ] Tenant pays directly for: [ELECTRICITY/GAS/WATER]
• [ ] Included in Base Rent.

4.3 Percentage Rent (Retail only)

• [ ] Tenant pays [%] of gross sales above $[BREAKPOINT].

5. SECURITY DEPOSIT

• Amount: $[AMOUNT]
• Held by Landlord for the duration of the Lease and returned within [NUMBER] days of lease end, less any deductions.

6. TENANT IMPROVEMENTS

• Landlord allowance: $[AMOUNT] [OR N/A]
• Work to be performed: [DESCRIBE OR ATTACH SCHEDULE]
• Ownership of improvements: Become Landlord's property at lease end.

7. USE AND COMPLIANCE

• The Tenant shall use the Premises only for the Permitted Use.
• The Tenant shall comply with all laws, bylaws, and regulations.
• [ ] Exclusive use clause: [DESCRIBE EXCLUSIVITY]

8. MAINTENANCE AND REPAIRS

Landlord

• Structural elements (roof, foundation, exterior walls)
• Common areas
• [HVAC STRUCTURAL]

Tenant

• Interior maintenance and repairs
• Fixtures and equipment
• [HVAC ROUTINE MAINTENANCE]
• Keep premises in clean, safe condition

9. INSURANCE

The Tenant shall maintain:

• Commercial General Liability: minimum $[AMOUNT] per occurrence
• Property insurance on Tenant's contents and improvements
• [ ] Business interruption insurance
• The Landlord shall be named as an additional insured.

10. ASSIGNMENT AND SUBLETTING

• The Tenant shall not assign or sublet without the Landlord's written consent.
• [ ] Consent shall not be unreasonably withheld.
• [ ] Landlord recapture right: [DETAILS]

11. DEFAULT AND REMEDIES

• Notice to cure: [NUMBER] days for monetary defaults; [NUMBER] days for non-monetary.
• Upon default, Landlord may terminate the Lease, re-enter, and recover damages.
• [ ] Late fee: [%] of overdue rent.

12. GENERAL

• Governing Law: [JURISDICTION]
• Holdover: If Tenant remains after term, rent is [%] of Base Rent.
• Quiet Enjoyment: Tenant shall have peaceful possession subject to this Lease.
• Entire Agreement: This is the entire agreement between the Parties.

Landlord: _______________________ Date: __________

Tenant: _______________________ Date: __________

Guarantor (if any): _______________________ Date: __________