Delaware office lease agreement template

Delaware Office Lease Agreement

This Office Lease Agreement (the “Agreement”) is made and entered into as of this [Date] day of [Month], [Year], by and between:

• [Landlord Legal Name], a [Landlord Legal Status, e.g., Delaware LLC], with a principal place of business at [Landlord Address] (hereinafter referred to as “Landlord”), and if applicable, whose Delaware Registered Agent is [Registered Agent Name], located at [Registered Agent Address].
• [Tenant Legal Name], a [Tenant Legal Status, e.g., Delaware Corporation], with a principal place of business at [Tenant Address] (hereinafter referred to as “Tenant”), and if applicable, whose Delaware Registered Agent is [Registered Agent Name], located at [Registered Agent Address].

WITNESSETH:

Premises:

• Landlord leases to Tenant and Tenant leases from Landlord, subject to the terms and conditions hereinafter set forth, the premises (the “Premises”) located at [Full Property Address], being suite or unit number [Suite/Unit Number], on the [Floor Number] floor, consisting of approximately [Square Footage] square feet, measured according to [Certified Measurement Standard, e.g., BOMA].
• The Premises includes [Number] parking spaces.
• [Optional: Description of Storage Facilities, e.g., Storage Unit #A1].
• The Premises includes the right to use the common areas of the Building, including lobbies, restrooms, and elevators.
• [Optional: Description of Amenities, e.g., HVAC system with individual controls, high-speed internet access, and 24/7 security].

Permitted Use:

• The Premises shall be used and occupied by Tenant solely for general office purposes and other uses directly related thereto, and for no other purpose.
• [Option A: No retail or customer-facing operations are permitted.]
• [Option B: Tenant shall comply with all applicable Delaware state zoning, occupancy, and fire safety codes, as well as all Wilmington or local municipal codes, commercial registration, and business licensing requirements.]

Lease 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 or extended as herein provided.
• [Option A: Renewal Option: Tenant shall have the option to renew this Lease for one (1) additional term of [Number] years, provided that Tenant gives Landlord written notice of its intention to renew not less than [Number] months prior to the Expiration Date.]
• [Option B: Holdover: Any holding over by Tenant after the Expiration Date shall be construed as a tenancy from month to month, subject to all the terms and conditions of this Lease, except that the monthly rent shall be [Percentage]% of the then-current monthly rent.]
• [Option C: Break Option: Tenant shall have the option to terminate this Lease effective [Date], provided that Tenant gives Landlord written notice of its intention to terminate not less than [Number] months prior to said date and pays Landlord a termination fee of [Dollar Amount]. This option is conditional upon the tenant’s full compliance with the lease through the termination date.]

Rent:

• Tenant shall pay to Landlord as Base Rent for the Premises the sum of [Dollar Amount] per annum, payable in equal monthly installments of [Dollar Amount], in advance on the first day of each month during the Lease Term.
• [Option A: Payment Method: Rent shall be paid by check, ACH, or electronic portal.]
• [Option B: Late Payment: If any installment of rent is not paid within [Number] days after the due date, Tenant shall pay a late charge of [Dollar Amount] or [Percentage]% of the overdue amount, whichever is greater, as permitted under Delaware law.]
• [Option C: Security Deposit: Tenant shall deposit with Landlord a security deposit of [Dollar Amount], which shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease. The security deposit may be applied by Landlord to cure any default by Tenant, subject to Delaware law. Landlord is not required to pay interest on the security deposit unless required by local statute.]
• [Option D: Rent Escalation: The Base Rent shall be increased annually by [Percentage]% or in accordance with the Consumer Price Index (CPI).]

Operating Expenses:

• Tenant shall pay its proportionate share of operating expenses, including CAM (Common Area Maintenance) fees, for the Building.
• [Option A: Tenant shall be directly responsible for all utilities, including electric, water, and gas.]
• [Option B: Landlord shall provide building service hours of [Start Time] to [End Time], Monday through Friday, excluding holidays. After-hours HVAC/utility surcharges will be billed at [Dollar Amount] per hour.]

Repair and Maintenance:

• Landlord shall be responsible for maintaining the roof, foundation, and exterior walls of the Building. Tenant is responsible for maintaining the interior of the premises, including interior walls, fixtures, and equipment.
• [Option A: Tenant shall obtain Landlord’s written consent before making any alterations to the Premises. Tenant shall be responsible for restoring the Premises to its original condition upon the expiration or termination of this Lease.]
• [Option B: Tenant shall comply with all applicable Delaware and local code requirements on renovations, including asbestos disclosure as mandated.]

Landlord Access:

Landlord shall have the right to enter the Premises at reasonable times to inspect the Premises, make necessary repairs, or show the Premises to prospective tenants or purchasers, with reasonable notice to Tenant, pursuant to Delaware notice requirements.

Insurance:

Tenant shall maintain liability insurance in an amount not less than [Dollar Amount] per occurrence and property insurance covering Tenant’s personal property and improvements in the Premises. Landlord shall maintain insurance on the Building. Both parties shall name each other as additional insureds.

[Optional: State Delaware insurance minimums if applicable or specific requirements due to building type/tenant activities.]

Default and Cure:

If Tenant fails to pay any installment of rent when due, or if Tenant fails to perform any other covenant or condition of this Lease, Landlord shall give Tenant written notice of such default. Tenant shall have [Number] days after receipt of such notice to cure the default. If Tenant fails to cure the default within the specified time, Landlord may terminate this Lease and pursue all available remedies under Delaware commercial law.

[Optional: Specify lockout procedures and expedited legal processes.]

Dispute Resolution:

Any dispute arising out of or relating to this Lease shall be resolved through negotiation, mediation, or, if necessary, arbitration or litigation in the state of Delaware. Tenant consents to Delaware jurisdiction, venue, and service of process rules.

Move-In and Move-Out:

Tenant shall accept the Premises in its “as-is” condition unless otherwise agreed in writing. Upon the expiration or termination of this Lease, Tenant shall surrender the Premises to Landlord in good condition, reasonable wear and tear excepted. Landlord shall return the security deposit to Tenant within [Number] days after Tenant has vacated the Premises, less any deductions for damages or unpaid rent, in accordance with Delaware law.

Environmental Compliance:

Tenant shall comply with all applicable environmental laws and regulations, including recycling programs and energy/power submetering requirements specific to Delaware/Wilmington.

ADA Compliance:

Tenant shall be responsible for complying with the Americans with Disabilities Act (ADA) and Delaware-specific accessibility requirements, including compliance after tenant alterations.

Indemnification:

Tenant shall indemnify and hold harmless Landlord from and against any and all claims, damages, liabilities, costs, and expenses arising out of Tenant’s use of the Premises, as required by Delaware commercial lease practice.

Entire Agreement:

This Agreement constitutes the entire agreement between the parties and supersedes all prior or contemporaneous communications and proposals, whether oral or written. No amendment to this Agreement shall be effective unless in writing and signed by both parties. E-signature acceptance is permitted.

Notices:

All notices required or permitted under this Lease shall be in writing and shall be deemed to have been duly given when delivered personally or sent by certified mail, return receipt requested, to the addresses set forth above.

Attachments:

• The following documents are attached to and made a part of this Lease:
• [Optional: Parking Rules]
• [Optional: Building Rules and Regulations]
• [Optional: Plans]
• [Optional: Schedules]

Delaware Law:

This Lease shall be governed by and construed in accordance with the laws of the State of Delaware. Tenant acknowledges compliance with all current Delaware commercial property statutes, local building/fire ordinances, applicable real estate transfer tax and gross receipts tax treatment, local business personal property taxation, and any unique city or county regulatory requirements affecting occupancy, operations, and landlord/tenant legal rights in Delaware.

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

Landlord:

____________________________

[Landlord Representative Name]

[Landlord Title]

Tenant:

____________________________

[Tenant Representative Name]

[Tenant Title]