Arkansas office lease agreement template

Arkansas Office Lease Agreement

This Arkansas Office Lease Agreement (the "Agreement") is made and entered into as of [Date of Signing, e.g., January 1, 2024], by and between [Landlord's Full Legal Name], whose mailing address is [Landlord's Mailing Address], phone number is [Landlord's Phone Number], and email address is [Landlord's Email Address] (hereinafter referred to as "Landlord"), and [Tenant's Full Legal Name], a [Tenant's Entity Type, e.g., Corporation], whose mailing address is [Tenant's Mailing Address], phone number is [Tenant's Phone Number], and email address is [Tenant's Email Address], represented by [Tenant Representative's Name] (hereinafter referred to as "Tenant").

Premises

Option A: Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, that certain office space located at [Building Address], Suite/Floor [Suite/Floor Number], City of [City], Arkansas, consisting of approximately [Square Footage] square feet of rentable area (the "Premises"). Square footage is determined by [Measurement Standard, e.g., BOMA Standard].

Option B: The Premises includes the use of common areas such as [List Common Areas, e.g., lobbies, hallways, restrooms]. Tenant shall have [Number] parking spaces at a ratio of [Ratio] spaces per [Square Footage Unit, e.g., 1,000] square feet leased.

Option C: Tenant shall have the right to install signage in accordance with Landlord’s standards and local ordinances at [Signage Location]. Access to the Premises shall be available [Access Hours]. The office building includes the following amenities: [List Amenities, e.g., elevators, security, restrooms, meeting rooms, mail handling, telecommunication/data services, HVAC systems and hours, janitorial services, and backup power if applicable].

Use of Premises

Option A: The Premises shall be used solely for general office and commercial administrative purposes in compliance with all applicable Arkansas zoning and business-occupancy codes.

Option B: Tenant shall not use the Premises for any purpose that violates local ordinances, involves hazardous operations, or constitutes a nuisance. Subleasing or assignment is prohibited without Landlord's prior written consent.

Option C: Tenant certifies that its operations comply with all applicable Arkansas laws, regulations, and local ordinances, including business licensing, fire and safety codes, and the Americans with Disabilities Act (ADA) as enforced in Arkansas. Tenant is responsible for maintaining all necessary government permits.

Lease Term

Option A: The term of this Lease shall commence on [Start Date] and shall expire on [End Date].

Option B: Tenant shall have the option to renew this Lease for [Number] additional term(s) of [Duration of Renewal Term], provided Tenant gives Landlord written notice of its intent to renew at least [Number] days prior to the expiration of the initial term or any renewal term. The renewal rent shall be determined as follows: [Method for Determining Renewal Rent].

Option C: If Tenant holds over after the expiration of the Lease term, the tenancy shall be a month-to-month tenancy at a rental rate equal to [Percentage]% of the then-current monthly rent. Early termination by tenant subjects tenant to [Terms of Early Termination, e.g., paying remaining rent]

Rent

Option A: The initial base rent shall be [Dollar Amount] per month, payable in advance on the [Day] day of each month.

Option B: Rent shall be payable to Landlord at [Rent Payment Address] or via electronic funds transfer to [Bank Account Details]. A late fee of [Dollar Amount or Percentage]% will be charged for any rent not received by the [Day] day of the month. A fee of [Dollar Amount] will be charged for any returned check.

Option C: The base rent shall be adjusted annually by [Adjustment Method, e.g., the Consumer Price Index (CPI) or a fixed percentage increase of X%]. Tenant shall pay all applicable state and local taxes, including [List Taxes, e.g., Arkansas sales/use tax if applicable]. Security deposit amount is [Dollar Amount].

Operating Expenses

Option A: Tenant shall be responsible for its pro rata share of operating expenses, which shall include [List Operating Expenses, e.g., common area maintenance (CAM), utilities (electricity, water, gas, trash), HVAC costs, janitorial costs, building repairs, insurance, local assessments, and capital improvement pass-throughs]. This is a [Lease Type, e.g., Triple Net, Modified Gross, or Full Service] lease.

Option B: Landlord shall provide Tenant with an annual reconciliation of operating expenses. Tenant shall have the right to dispute the reconciliation within [Number] days of receipt.

Option C: HVAC is provided during regular business hours: [HVAC Hours]. After-hours HVAC is available at a surcharge of [Dollar Amount] per hour.

Tenant Improvements and Alterations

Option A: Tenant shall submit plans for any alterations or improvements to the Premises to Landlord for approval. Landlord shall approve or disapprove such plans within [Number] days.

Option B: All alterations and improvements must be performed by Arkansas-licensed contractors in accordance with local building permits and codes. Tenant shall provide insurance and bonding for all construction work.

Option C: Tenant is responsible for the restoration or removal of any alterations at the end of the Lease term, unless otherwise agreed in writing.

Repair and Maintenance

Option A: Landlord shall be responsible for maintaining the structure, roof, exterior, and common areas of the building. Tenant shall be responsible for maintaining the interior of the Premises, including glass, lighting, and minor fixtures.

Option B: Tenant shall promptly report any damage to the Premises to Landlord. Landlord shall respond to reported damage within [Number] days.

Option C: Following a casualty event such as fire, flood, or tornado, the obligations of Landlord and Tenant shall be as follows: [Specify Obligations, e.g., rent abatement, restoration obligations, termination rights].

Insurance

Option A: Landlord shall maintain casualty/fire insurance for the building. Tenant shall maintain liability and personal property insurance with minimum coverage of [Dollar Amount], naming Landlord as an additional insured.

Option B: Tenant shall provide Landlord with certificates of insurance evidencing the required coverage.

Option C: Both parties waive the right of subrogation against each other to the extent covered by insurance.

Fire Safety and Emergency Procedures

Option A: Tenant shall comply with all Arkansas fire prevention rules and regulations.

Option B: Evacuation routes and emergency contacts are posted in the common areas.

Option C: Tenant shall establish and maintain a disaster recovery and business continuity plan.

Security Deposit

Option A: The security deposit shall be held in an escrow account in accordance with Arkansas commercial lease security deposit rules.

Option B: Landlord may deduct from the security deposit for damages to the Premises, unpaid rent, or other breaches of this Lease.

Option C: Landlord shall return the security deposit, less any deductions, within [Number] days of the termination of the Lease, provided Tenant has provided Landlord with a forwarding address.

Move-In and Move-Out

Option A: Landlord and Tenant shall complete a move-in inspection checklist prior to Tenant's occupancy.

Option B: Upon termination of the Lease, Tenant shall remove all personal property from the Premises and leave the Premises in a clean and good condition, ordinary wear and tear excepted.

Option C: Any property left on the premises after lease termination will be handled as per Arkansas law.

Landlord's Access

Option A: Landlord shall have the right to access the Premises for inspections, repairs, and showings, provided Landlord gives Tenant at least [Number] hours' advance notice.

Option B: Landlord may enter the Premises without notice in the event of an emergency.

Option C: Landlord shall not unreasonably interfere with Tenant's business operations.

Assignment and Subletting

Option A: Tenant shall not assign this Lease or sublet the Premises without Landlord's prior written consent, which shall not be unreasonably withheld.

Option B: Landlord's consent to an assignment or subletting shall be subject to the prospective assignee or subtenant meeting Landlord's reasonable financial and operational criteria and compliance with all Arkansas anti-discrimination rules.

Option C: Tenant will provide landlord all information on the proposed tenant required by Arkansas business entity rules.

Default

Option A: The following shall constitute events of default: non-payment of rent, violation of the permitted use, bankruptcy or insolvency, and failure to maintain insurance.

Option B: Landlord shall provide Tenant with written notice of any default and Tenant shall have [Number] days to cure the default.

Option C: In the event of default, Landlord shall have all legal and equitable remedies available under Arkansas law, including the right to terminate the Lease and recover damages.

Indemnification

Option A: Tenant shall indemnify and hold Landlord harmless from any and all claims, losses, damages, and liabilities arising out of Tenant's use of the Premises.

Option B: Landlord shall indemnify and hold Tenant harmless from any and all claims, losses, damages, and liabilities arising out of Landlord's negligence or willful misconduct.

Option C: This indemnification extends to risks of personal injury and property damage, consistent with Arkansas enforceability practices.

Arkansas Compliance

Option A: This Lease is governed by the laws of the State of Arkansas, including Title 18 of the Arkansas Code.

Option B: Tenant shall comply with all applicable city and county business occupancy rules and municipal utility requirements.

Option C: This lease will be enforced in accordance with creditor rights for commercial landlords in Arkansas.

Choice of Law and Venue

Option A: This Lease shall be governed by and construed in accordance with the laws of the State of Arkansas.

Option B: Any legal action or proceeding arising out of or relating to this Lease shall be brought in the courts of [County Name, e.g., Pulaski County], Arkansas.

Option C: The prevailing party in any legal action shall be entitled to recover its reasonable attorney's fees.

Dispute Resolution

Option A: The parties shall attempt to resolve any disputes arising out of or relating to this Lease through good faith negotiation.

Option B: If negotiation is unsuccessful, the parties may agree to mediate the dispute.

Option C: Any litigation will be conducted adhering to Arkansas-mandated pre-litigation notice requirements.

Anti-Discrimination

Option A: Landlord and Tenant shall comply with all applicable federal and state anti-discrimination laws, including the Fair Housing Act, the Americans with Disabilities Act (ADA), and the Equal Credit Opportunity Act.

Option B: The scope of Arkansas enforcement of these laws is understood by both parties.

Notices

Option A: All notices required or permitted under this Lease shall be in writing and shall be deemed given when personally delivered, sent by certified mail, return receipt requested, or sent by reputable overnight courier to the addresses set forth above.

Option B: Notices will be delivered as per Arkansas statutory rules for commercial tenancies.

Signage

Option A: Tenant shall have the right to install signage in accordance with local ordinances and Landlord's policies.

Option B: All signage must be approved by Landlord in writing prior to installation.

Option C: Tenant will advertise the property in accordance with local ordinances.

Expansion/Contraction Options

Option A: Tenant shall have the option to expand the Premises by leasing additional space if it becomes available. [Terms of Expansion Option].

Option B: Tenant shall have the right of first refusal to lease any adjacent space that becomes available. [Terms of Right of First Refusal].

Force Majeure and Casualty/Condemnation

Option A: Neither party shall be liable for any failure to perform its obligations under this Lease if such failure is caused by force majeure events, including acts of God, war, terrorism, or government regulation.

Option B: If the Premises are damaged by fire or other casualty, rent shall abate during the period of restoration. [Restoration Obligations].

Option C: If the Premises are taken by eminent domain, this Lease shall terminate. [Termination Rights].

Municipal Requirements

Option A: Tenant shall comply with all unique municipal limitations or requirements for the location of the Premises. [List Specific Requirements, e.g., unique city occupational license/permit requirements or security regulations].

Exhibits

The following exhibits are attached to and made a part of this Lease:

• Exhibit A: Office Building Rules and Regulations
• Exhibit B: Property Management Contact Details
• Exhibit C: Parking Allocation Map
• Exhibit D: HVAC System Hours/Specs
• Exhibit E: Janitorial/Service Schedule
• Exhibit F: Move-In/Out Checklist
• Exhibit G: Form Insurance Certificates
• Exhibit H: Specification Sheets for Tenant Improvements
• Exhibit I: Statement of all Arkansas statutes incorporated by reference (including Arkansas Code §§ 18-16-101 to 18-17-901 as applicable to commercial properties)

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

Landlord:

____________________________

[Landlord's Full Legal Name]

By: ____________________________

[Landlord's Signature]

Title: [Landlord's Title]

Tenant:

____________________________

[Tenant's Full Legal Name]

By: ____________________________

[Tenant Representative's Signature]

Title: [Tenant Representative's Title]