Connecticut retail lease agreement template

Connecticut Retail Lease Agreement

This Connecticut Retail Lease Agreement (the "Lease") is made and entered into as of [Date], by and between [Landlord's Full Legal Name], whose address is [Landlord's Business Address] and whose FEIN/SSN is [Landlord's FEIN/SSN] ("Landlord"), and [Tenant's Full Legal Name], whose address is [Tenant's Business Address] and whose FEIN/SSN is [Tenant's FEIN/SSN] ("Tenant").

Premises: Landlord leases to Tenant, and Tenant leases from Landlord, the premises (the "Premises") located at [Street Address], [Town/Municipality, CT], legally described as [Legal Description], being approximately [Square Footage] square feet of retail space within the retail property known as [Retail Property Designation]. The Premises has a store frontage of [Store Frontage] feet and includes the following unique retail features: [Description of Retail Features, e.g., Entrances, Signage Locations, Loading Docks, Parking Spaces, Restrooms, Display Windows].

Use of Premises:

Option A: Tenant shall use the Premises solely for the purpose of operating a [Permitted Retail Use, e.g., Clothing Store].

Option B: Tenant shall use the Premises solely for the purpose of operating a [Permitted Retail Use, e.g., Restaurant], subject to obtaining all necessary Connecticut liquor licenses and complying with all applicable Connecticut health codes.

Tenant shall not use the Premises for any [Prohibited Use, e.g., adult entertainment] or any other use that violates Connecticut state or local zoning ordinances.

Tenant shall comply with all applicable Connecticut state and local retail, zoning, and use ordinances, including but not limited to ADA accessibility requirements.

Lease Term:

Option A: The term of this Lease shall commence on [Commencement Date] and expire on [Expiration Date]. The possession date shall be [Possession Date].

Option B: The term of this Lease shall commence on [Commencement Date] and expire on [Expiration Date]. Tenant shall have early access to the Premises for fit-out purposes beginning on [Early Access Date].

Option C: Renewal Option: Tenant shall have the option to renew this Lease for [Number] additional term(s) of [Length of Renewal Term], provided that Tenant gives Landlord written notice of its intent to renew at least [Number] months prior to the expiration of the then-current term. Rent during the renewal term shall be adjusted to [Rent Adjustment Formula, e.g., fair market value, percentage increase].

Early Termination: This lease may be terminated early under the following conditions:

Condemnation: If a substantial portion of the premises is taken by condemnation, either party may terminate this lease.

Force Majeure: If the premises is rendered unusable due to force majeure, either party may terminate this lease.

Casualty: If the premises are rendered unusable due to fire or other casualty, either party may terminate as permitted under Connecticut law.

Rent:

Base Rent: The base rent shall be [Base Rent Amount] per [Month/Year], payable in advance on the [Day] day of each [Month/Year].

Connecticut Sales Tax: [Specify Responsibility for Connecticut Sales Tax, e.g., Tenant is responsible for collecting and remitting Connecticut sales tax on its sales.]

Annual Rent Escalation: The base rent shall increase annually by [Rent Escalation Formula, e.g., Percentage Increase, CPI Adjustment].

Payment Method: Rent shall be paid by [Payment Method, e.g., check, electronic transfer] to [Payment Address/Account Information].

Late Payment Fee: Late payment fees shall be [Late Payment Fee Amount], as permitted by Connecticut law, applied if rent is not received within [Number] days of the due date.

Security Deposit:

The security deposit shall be [Security Deposit Amount].

The security deposit may be used to cover any damages, unpaid rent, or other expenses incurred by the Landlord due to Tenant's breach of this Lease, subject to Connecticut law.

If the security deposit is held for longer than one year, Landlord shall pay interest on the security deposit as required by Connecticut statutes.

The security deposit, less any deductions, shall be returned to Tenant within [Number] days after the termination of this Lease and Tenant's surrender of the Premises in accordance with the terms of this Lease.

Operating Expenses:

Option A: Triple-Net Lease: In addition to base rent, Tenant shall pay its proportionate share of all operating expenses, including but not limited to:

Common Area Maintenance (CAM): Tenant shall pay [Percentage]% of CAM expenses.

Property Taxes: Tenant shall pay [Percentage]% of property taxes, including local Connecticut business/mill rate property taxes.

Insurance Premiums: Tenant shall pay [Percentage]% of insurance premiums.

Refuse/Recycling Charges: Tenant shall pay [Percentage]% of refuse/recycling charges, in compliance with local Connecticut municipal codes.

Utilities: Tenant shall pay for all utilities, including HVAC, water/sewer, electricity, internet, and phone, based on individual metering.

Option B: Gross Lease: Landlord shall be responsible for all operating expenses, including but not limited to CAM, property taxes, insurance premiums, refuse/recycling, and utilities. Tenant will pay a flat fee of [Flat Fee Amount] for utilities.

Parking, Signage, and Advertising:

Parking:

Option A: Tenant shall have the exclusive right to use [Number] parking spaces.

Option B: Tenant shall have the non-exclusive right to use parking spaces in common with other tenants and their customers.

Loading Areas: Tenant shall have access to the loading area located at [Loading Area Location].

Signage:

Tenant shall have the right to install signage on the Premises, subject to Landlord's approval and compliance with all applicable local Connecticut signage regulations and municipal sign ordinances. The size, lighting, and location of signage must be approved by Landlord.

All signage must comply with Connecticut signage regulations and municipal sign ordinances.

Advertising: [Describe any restrictions or cooperation requirements regarding advertising and promotion, especially in shopping center contexts].

Improvements and Alterations:

Fit-Out/Buildout: Tenant shall be responsible for all fit-out and buildout work, subject to Landlord's approval and compliance with Connecticut Building Code permitting/inspection requirements.

Landlord's Approval: All plans and specifications for any improvements or alterations must be approved by Landlord in writing prior to commencement of work.

Construction Standards: All work shall be performed in a good and workmanlike manner, using licensed contractors and in compliance with all applicable laws and regulations. Tenant's contractors must provide proof of insurance.

Delivery Condition:

Option A: The Premises are delivered in "as-is" condition.

Option B: The Premises are delivered in "turn-key" condition, as described in Exhibit [Exhibit Letter].

Punch List: Upon completion of the work, a punch list shall be prepared and agreed upon by both parties.

Restoration: Upon the expiration or termination of this Lease, Tenant shall restore the Premises to its original condition, reasonable wear and tear excepted, and remove all fixtures and signage installed by Tenant, unless otherwise agreed in writing by Landlord.

Repair and Maintenance:

Tenant's Obligations: Tenant shall be responsible for the repair and maintenance of the following: [List of Tenant's Responsibilities, e.g., interior of the Premises, glass, storefront].

Landlord's Obligations: Landlord shall be responsible for the repair and maintenance of the following: [List of Landlord's Responsibilities, e.g., roof, structure, HVAC, plumbing, electrical].

Pest Control: [Specify Responsibility for Pest Control].

Snow/Ice Removal: [Specify Responsibility for Snow/Ice Removal, in compliance with Connecticut law and local ordinances on sidewalks/lots].

Reporting: Tenant shall promptly report any maintenance issues to Landlord.

Emergency Repairs: Landlord shall have the right to enter the Premises to make emergency repairs.

Landlord Entry: Landlord shall have the right to enter the Premises for inspections and repairs, upon reasonable notice to Tenant, except in cases of emergency.

Insurance:

Tenant's Insurance: Tenant shall maintain the following insurance coverage:

Commercial General Liability Insurance: [Coverage Amount]

Retail Product Liability Insurance: [Coverage Amount]

Property Insurance: [Coverage Amount]

Contents Coverage: [Coverage Amount]

Business Interruption Insurance: [Coverage Amount] (if applicable)

Landlord's Insurance: Landlord shall maintain building insurance.

Proof of Insurance: Tenant shall provide Landlord with proof of insurance coverage prior to the commencement of the Lease and upon each renewal.

Waivers/Endorsements: [Specify any Connecticut statutory insurance waivers or endorsements required].

Compliance with Laws:

Tenant shall comply with all applicable Connecticut fire codes, lead paint/Hazardous Materials regulations (including notification and indemnification), and shall obtain all necessary retail occupancy permits and health/safety approvals.

Hazardous Materials: Tenant shall not use, store, or dispose of any hazardous materials on the Premises in violation of applicable laws and regulations. Tenant shall indemnify Landlord against any claims arising from Tenant's use of hazardous materials.

Business Operations:

Store Hours: Tenant shall operate the Premises during the following hours: [Store Hours].

Window Displays: Tenant shall maintain attractive window displays.

Music/Public Performance Rights: Tenant is responsible for obtaining all necessary licenses for music or public performances on the premises.

Co-Tenancy/Opening Requirements: [Specify any co-tenancy or opening requirements, especially in shopping centers].

Exclusive Use/Prohibition of Competing Businesses: [Specify any exclusive use rights granted to Tenant or any restrictions on competing businesses in the center].

Assignment and Subletting:

Tenant shall not assign this Lease or sublet the Premises without Landlord's prior written consent, which shall not be unreasonably withheld, subject to a Connecticut-standard approval process.

Move-In and Move-Out:

Move-In: Tenant shall be entitled to move-in and install its fixtures and shelving prior to the commencement date in accordance with a schedule to be mutually agreed upon by both parties.

Move-Out: Upon the expiration or termination of this Lease, Tenant shall surrender the Premises in broom clean condition.

Default and Remedies:

Tenant Default: The following shall constitute a default by Tenant:

Failure to pay rent when due.

Failure to comply with any other term or condition of this Lease.

Notice of Breach: Landlord shall provide Tenant with written notice of any default.

Right to Cure: Tenant shall have [Number] days from the date of the notice to cure the default, in accordance with Connecticut statutory “right to cure” provisions.

Landlord's Remedies: Upon Tenant's failure to cure a default, Landlord shall have the following remedies, in addition to any other remedies available at law or in equity:

Reentry and repossession of the Premises.

Recovery of damages, including unpaid rent and the cost of reletting the Premises.

Equitable remedies, such as injunctive relief.

Landlord's lien or distraint rights as permitted by Connecticut law.

Alternative Dispute Resolution:

Any dispute arising out of or relating to this Lease shall be resolved through [Alternative Dispute Resolution Method, e.g., negotiation, mediation, Connecticut-based arbitration].

Governing Law and Venue:

This Lease shall be governed by and construed in accordance with the laws of the State of Connecticut. Venue for any action arising out of or relating to this Lease shall be in the county where the Premises are located.

Compliance with Laws:

Tenant shall comply with all applicable Connecticut state and municipal laws, environmental, fire, and health/safety ordinances, and retail industry regulations, including state Department of Consumer Protection rules, food service, liquor, or high-risk retail operations if relevant.

Disclosures:

[Specify any Connecticut-specific disclosures and state-required language, including radon, lead paint, flood hazard, and environmental condition notifications, if applicable].

Subordination and Attornment:

This Lease shall be subordinate to any mortgage or deed of trust now or hereafter placed upon the Premises, provided that Landlord obtains a non-disturbance agreement (NDA) from the mortgagee in favor of Tenant.

Casualty and Condemnation:

[Address casualty and condemnation with required procedures under Connecticut law, including prompt notification, repair/termination rights, and prorated rent obligations during restoration].

Notices:

All notices required or permitted under this Lease shall be in writing and delivered by U.S. mail or recognized courier, with proper address specification, as required by Connecticut statutes, to the addresses set forth above.

Local Assessments:

[Address any local property improvement districts, retail district assessments, or municipal business improvement fees impacting lease economics].

ADA Compliance:

[Address requirements and liability for Americans with Disabilities Act (ADA) and corresponding Connecticut accessibility compliance].

Industry-Related Contributions:

[Address any unique industry-related landlord/tenant contributions, e.g., for shared marketing, seasonal decorations, or special events if retail center].

Entire Agreement: This Lease constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous communications and proposals, whether oral or written.

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

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[Landlord's Full Legal Name]

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[Tenant's Full Legal Name]