Connecticut commercial lease agreement template

Connecticut Commercial Lease Agreement

This Commercial Lease Agreement (the “Lease”) is made and entered into as of this [Date], by and between [Landlord Name], a [Landlord Entity Type, e.g., Corporation], with an address at [Landlord Address] (hereinafter referred to as "Landlord"), and [Tenant Name], a [Tenant Entity Type, e.g., LLC], with an address at [Tenant Address] (hereinafter referred to as "Tenant").

1. Premises

Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the following described premises (the “Premises”):

• Physical Address: [Property Address], Suite/Unit Number: [Suite/Unit Number].
• Square Footage: [Square Footage] square feet.
• Permitted Use(s): [Description of Permitted Uses].
• Common Areas: Shared use of common areas as defined by Landlord.
• Parking Spaces: [Number] parking spaces.
• Option A: Premises Map Attached as Exhibit A.
• Option B: Premises Layout (described): [Description of Layout]

2. Term

The term of this Lease shall commence on [Start Date] (the "Commencement Date") and shall expire on [End Date] (the "Expiration Date"), unless sooner terminated as provided herein.

• Option A: Fixed Term: See above start and end dates.
• Option B: Month-to-Month: Commencing on [Start Date], continuing on a month-to-month basis until terminated by either party with [Number] days written notice.

Renewal Options:

• Option A: Tenant shall have the option to renew this Lease for [Number] additional term(s) of [Number] years each. To exercise this option, Tenant must provide Landlord with written notice at least [Number] months prior to the Expiration Date.
  • Renewal Rent: The rent for the renewal term shall be determined as follows: [Rent Determination Method].
• Option B: No renewal option.

Early Termination:

• Option A: Tenant shall have the right to terminate this Lease prior to the Expiration Date, provided that Tenant pays Landlord a termination fee of [Dollar Amount] and provides Landlord with [Number] months written notice.
• Option B: No early termination option.

3. Rent

Tenant shall pay Landlord base rent in the amount of [Dollar Amount] per [Time Period, e.g., month], payable in advance on the [Day] day of each [Time Period, e.g., month] during the term of this Lease.

• Payment Schedule: Monthly, payable on the [Day] of each month.
• Acceptable Forms of Payment: [Acceptable Payment Methods, e.g., Check, Wire Transfer].

Security Deposit: Tenant shall deposit with Landlord a security deposit in the amount of [Dollar Amount], which shall be held by Landlord as security for the performance of Tenant's obligations under this Lease. The security deposit shall be returned to Tenant within [Number] days after the Expiration Date, less any deductions for damages to the Premises or unpaid rent, pursuant to Connecticut law. Landlord must hold the security deposit in a separate bank account.

Escalation Clause:

• Option A: The base rent shall increase by [Percentage]% per year commencing on the [Date] anniversary of the Commencement Date.
• Option B: The base rent shall be adjusted annually based on the Consumer Price Index (CPI) for [Specific CPI Area].
• Option C: No escalation clause.

Late Fees/Penalties: If rent is not received within [Number] days of the due date, a late fee of [Dollar Amount] will be charged. A fee of [Dollar Amount] will be charged for any returned check.

4. Additional Charges

Common Area Maintenance (CAM) Fees: Tenant shall pay its proportionate share of CAM fees, which shall include the costs of maintaining the common areas of the building, including but not limited to landscaping, snow removal, and parking lot maintenance. Tenant’s proportionate share shall be [Percentage]% of the total CAM fees.

• CAM Calculation: CAM fees will be calculated [Frequency] and a statement will be provided to Tenant.

Property Taxes:

• Option A: Landlord shall be responsible for the payment of all property taxes.
• Option B: Tenant shall pay its proportionate share of property taxes, which shall be [Percentage]% of the total property taxes.

Insurance Premiums:

• Option A: Landlord shall be responsible for the payment of all insurance premiums.
• Option B: Tenant shall pay its proportionate share of insurance premiums, which shall be [Percentage]% of the total insurance premiums.

Utilities: Tenant shall be responsible for the payment of the following utilities: [List of Utilities, e.g., Electricity, Gas, Water]. Landlord shall be responsible for the payment of the following utilities: [List of Utilities].

• HVAC: Tenant is responsible for HVAC maintenance and repair.
• Trash Removal: [Specify who is responsible for trash removal]

Repair/Maintenance Costs: As detailed in Section 8.

5. Use of Premises

Tenant shall use the Premises solely for the Permitted Use(s) as described in Section 1.

Prohibited Uses: Tenant shall not use the Premises for any illegal or nuisance activities.

Zoning/Licensing: Tenant is responsible for obtaining all necessary zoning and licensing permits for its business operations.

Exclusive Use:

• Option A: Landlord grants Tenant exclusive use for [Type of Business] within the building/property.
• Option B: No exclusive use granted.

6. Tenant Improvements

Tenant Improvement (TI) Allowance:

• Option A: Landlord shall provide Tenant with a TI allowance of [Dollar Amount] to be used for improvements to the Premises.
• Option B: No TI allowance.

Build-Out Responsibilities: [Description of build-out responsibilities for Landlord and Tenant].

Approval Processes: All alterations or renovations must be approved by Landlord in writing prior to commencement of work.

Restoration Obligations: Upon termination of this Lease, Tenant shall restore the Premises to its original condition, reasonable wear and tear excepted.

7. Maintenance and Repair

Landlord's Responsibilities: Landlord shall be responsible for maintaining the structural integrity of the building, including the roof, foundation, and exterior walls.

Tenant's Responsibilities: Tenant shall be responsible for maintaining the interior of the Premises in good repair and condition, including but not limited to plumbing, electrical, and HVAC systems. Tenant is responsible for light bulb replacement.

Service Systems: Landlord is responsible for maintaining service systems; tenant is responsible for immediately notifying the Landlord of any problems.

8. Insurance

Tenant shall maintain the following insurance coverage:

• Commercial General Liability Insurance: [Dollar Amount] per occurrence.
• Property Insurance: Covering Tenant's personal property and improvements.
• Business Interruption Insurance: As needed.

Landlord shall be named as an additional insured on Tenant's Commercial General Liability Insurance policy.

Tenant shall provide Landlord with proof of insurance coverage upon execution of this Lease and annually thereafter.

9. Indemnification

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.

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.

10. Compliance with Laws

Tenant shall comply with all federal, state, and local laws, including but not limited to the Americans with Disabilities Act (ADA), fire safety codes, and environmental regulations.

Lead Paint Disclosure: [If applicable, include required lead paint disclosure].

Asbestos Disclosure: [If applicable, include required asbestos disclosure].

Radon Disclosure: [If applicable, include required radon disclosure].

11. Signage

Tenant shall have the right to install signage on the Premises, subject to Landlord's approval and compliance with all applicable laws and regulations.

Signage Costs: [Allocation of signage costs between Landlord and Tenant].

12. Assignment and Subletting

Tenant shall not assign this Lease or sublet the Premises without Landlord's prior written consent, which consent shall not be unreasonably withheld. Landlord may consider Connecticut legal precedents in determining what is reasonable.

13. Access and Inspection

Landlord shall have the right to enter the Premises for inspection or repair purposes upon reasonable notice to Tenant, except in the case of an emergency, in which case no notice is required. Landlord must provide at least 24 hours' notice of entry.

Right of First Refusal:

• Option A: If Landlord intends to lease any adjacent space, Tenant shall have the right of first refusal to lease such space.
• Option B: No right of first refusal.

14. Default

Events of Default: The following shall constitute events of default under this Lease:

• Failure to pay rent when due.
• Failure to comply with any other term or condition of this Lease.
• Abandonment of the Premises.

Cure Period: Tenant shall have [Number] days to cure any default after written notice from Landlord, except for nonpayment of rent, for which the cure period shall be [Number] days.

Landlord's Remedies: Upon the occurrence of an event of default, Landlord shall have the right to pursue any and all remedies available at law or in equity, including but not limited to:

• Termination of this Lease.
• Re-entry and repossession of the Premises.
• Recovery of damages, including unpaid rent, late fees, and attorney’s fees. Lock-out of tenant may occur after proper legal procedure.

15. Termination and Surrender

Upon the expiration or termination of this Lease, Tenant shall surrender the Premises to Landlord in good condition, reasonable wear and tear excepted.

Holding Over: Any holding over by Tenant after the Expiration Date shall be deemed a month-to-month tenancy at a rental rate of [Percentage]% of the then-current base rent.

16. Damage and Destruction

If the Premises are damaged or destroyed by fire or other casualty, Landlord shall have the option to repair or rebuild the Premises.

Rent Abatement: If the Premises are untenantable as a result of such damage or destruction, rent shall abate until the Premises are restored.

Termination Option: If the Premises are substantially damaged or destroyed, either Landlord or Tenant shall have the option to terminate this Lease.

17. Eminent Domain

If the Premises are taken by eminent domain, this Lease shall terminate as of the date of the taking.

Compensation: Tenant shall be entitled to compensation for its leasehold interest and any improvements made by Tenant.

18. Guaranty

If Tenant is an entity, the following individual(s) shall personally guarantee the performance of Tenant's obligations under this Lease: [Guarantor Name(s)].

Guarantor(s) hereby agree to be jointly and severally liable for all of Tenant's obligations under this Lease.

19. Exhibits

The following exhibits are attached to and incorporated into this Lease:

• Exhibit A: Premises Map
• Exhibit B: Rules and Regulations
• Exhibit C: Landlord/Tenant Improvement Specifications

20. Governing Law

This Lease shall be governed by and construed in accordance with the laws of the State of Connecticut.

Dispute Resolution:

• Option A: Any dispute arising out of or relating to this Lease shall be resolved through mediation in Connecticut.
• Option B: Any dispute arising out of or relating to this Lease shall be resolved through binding arbitration in Connecticut.
• Option C: Any dispute arising out of or relating to this Lease shall be resolved in the Connecticut Superior Court located in [County Name] County.

21. Connecticut Specific Provisions

Landlord shall comply with all applicable Connecticut commercial lease statutes.

Security deposit shall be held in a separate account as required by Connecticut law.

Required disclosures regarding any real estate broker representation: [Broker Name and Contact Information].

Compliance with Connecticut Building Codes and Fire Safety Codes is required.

Landlord's notice to quit, cure periods, or eviction shall be in accordance with Connecticut’s commercial lease eviction requirements.

Taxation of commercial leases under Connecticut law: [Describe applicable taxes and responsibilities].

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

____________________________

[Landlord Name]

____________________________

[Tenant Name]