Idaho commercial lease agreement template

Idaho Commercial Lease Agreement

This Commercial Lease Agreement (the “Lease”) is made and entered into this [Date], by and between [Landlord Name], a [Landlord Entity Type], with an address at [Landlord Address] (hereinafter referred to as "Landlord"), and [Tenant Name], a [Tenant Entity Type], with an address at [Tenant Address] (hereinafter referred to as "Tenant"). If applicable, the Landlord’s registered agent is [Registered Agent Name] at [Registered Agent Address].

If applicable, the Landlord has designated [Property Manager Name], with an address at [Property Manager Address] and contact information of [Property Manager Contact Information], as the property manager or agent.

Leased Premises

The Landlord hereby leases to the Tenant, and the Tenant hereby leases from the Landlord, the premises located at [Property Address], Suite/Unit Number [Unit Number], (the “Premises”), consisting of approximately [Square Footage] square feet.

Parking allocation: [Number] parking spaces are allocated to the Tenant, located [Description of Parking Location].

Description of common/shared areas: [Description of Common Areas].

Use of Premises

The Premises shall be used and occupied by the Tenant solely for the purpose of: [Permitted Use].

Prohibited uses: [Prohibited Uses].

Use restrictions: [Use Restrictions].

Zoning requirements: The Tenant acknowledges that the Premises are subject to the zoning ordinances of [City/County], Idaho.

Exclusive use rights (if any): [Description of Exclusive Use Rights].

Lease Term

Option A: Fixed Term

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

Option B: Month-to-Month Tenancy

The term of this Lease shall commence on [Start Date] and continue on a month-to-month basis until terminated as provided herein. Either party may terminate this Lease by providing [Number] days written notice to the other party.

Option for Renewal: [Renewal Option Details, e.g., terms, notice requirements].

Conditions for Early Termination: [Conditions for Early Termination, e.g., penalty, notice].

Automatic Extension: This lease will/will not automatically extend for a period of [Duration] unless either party provides written notice of termination [Number] days prior to the expiration date.

Rent

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

Payment method: [Payment Method, e.g., check, electronic transfer] to [Payment Address/Account Details].

Rent Adjustments:

Option A: CPI Increase

The base rent shall be adjusted annually, commencing on [Date], based on the percentage increase in the Consumer Price Index (CPI) for [CPI Index], as published by the U.S. Department of Labor, Bureau of Labor Statistics.

Option B: Step-Up

The base rent shall increase to [New Rent Amount] on [Date].

Option C: Market Rate Adjustment

The base rent shall be adjusted to the then-current market rate, as determined by an independent appraisal, every [Number] years, commencing on [Date].

[Market Rate Adjustment Details]

Security Deposit

The Tenant shall deposit with the Landlord a security deposit in the amount of [Security Deposit Amount], in the form of [Form of Payment].

Permitted uses of security deposit: [Permitted Uses, e.g., damage, unpaid rent].

Conditions for withholding: [Conditions for Withholding Security Deposit, e.g., itemized deductions].

Timeframe for return: The Landlord shall return the security deposit, less any deductions, within [Number] days after the Tenant has vacated the Premises.

Prepaid Rent: The tenant is required to pay the first [Number] month's rent of [Rent Amount] in advance.

Additional Rent and Charges

Common Area Maintenance (CAM): [CAM Charges Details, e.g., amount, calculation, frequency].

Operating Expenses: [Operating Expenses Details, e.g., amount, calculation, frequency].

Taxes: [Tax Details, e.g., amount, calculation, frequency].

Property Insurance: [Property Insurance Details, e.g., amount, calculation, frequency].

Utilities: [Utilities Details, e.g., amount, calculation, frequency].

Type of Lease:

Gross Lease

Landlord pays all operating expenses.

Modified Gross Lease

Tenant pays a portion of operating expenses, as detailed above.

Triple Net (NNN) Lease

Tenant pays all operating expenses, including property taxes, insurance, and CAM.

Property Taxes and Utilities

Property Taxes: [Responsible Party for Property Taxes, e.g., Landlord or Tenant].

Special Assessments: [Responsible Party for Special Assessments, e.g., Landlord or Tenant].

Utilities:

Water: [Responsible Party for Water].

Gas: [Responsible Party for Gas].

Electricity: [Responsible Party for Electricity].

Trash: [Responsible Party for Trash].

HVAC: [Responsible Party for HVAC Utilities].

Sewer: [Responsible Party for Sewer].

Internet: [Responsible Party for Internet].

Maintenance and Repair

Landlord's Responsibilities: [Landlord's Maintenance Responsibilities, e.g., structural, roof].

Tenant's Responsibilities: [Tenant's Maintenance Responsibilities, e.g., interior, landscaping].

HVAC Maintenance: [Responsible Party for HVAC Maintenance].

Structural Maintenance: [Responsible Party for Structural Maintenance].

Roof Maintenance: [Responsible Party for Roof Maintenance].

Landscaping: [Responsible Party for Landscaping].

Alterations and Improvements

Tenant Improvements: [Tenant Improvements Details, e.g., permitted alterations, approval process].

Landlord Approval: All alterations and improvements require prior written approval from the Landlord.

Ownership of Fixtures: [Ownership of Fixtures Details, e.g., fixtures remain with the property].

Restoration Obligations: [Restoration Obligations Details, e.g., Tenant must restore to original condition].

Removal at Lease End: [Details Regarding Removal of Alterations at Lease End].

Subleasing and Assignment

Subleasing: The Tenant shall/shall not have the right to sublease the Premises. If subleasing is permitted, it requires prior written consent from the Landlord, which shall not be unreasonably withheld.

[Subleasing Details, e.g., sublease terms, approval process].

Assignment: The Tenant shall/shall not have the right to assign this Lease. If assignment is permitted, it requires prior written consent from the Landlord, which shall not be unreasonably withheld.

[Assignment Details, e.g., permitted uses for assignments, transfer fees].

Compliance with Laws and Regulations

The Tenant shall comply with all applicable laws, regulations, and ordinances, including but not limited to ADA, zoning ordinances, building codes, and health and safety laws.

Hazardous Materials: [Hazardous Materials Disclosure Details]. Tenant is responsible for compliance with all environmental laws related to its use of the premises.

[Idaho-Specific Compliance, e.g., lien notification procedures].

Insurance

The Tenant shall maintain the following insurance coverage:

Property Insurance: [Property Insurance Coverage Amount].

General Liability Insurance: [General Liability Insurance Coverage Amount].

Renter’s Insurance: [Renter's Insurance Coverage Amount].

Business Interruption Insurance: [Business Interruption Insurance Coverage Amount].

Landlord as Additional Insured: The Tenant shall list the Landlord as an additional insured on all applicable insurance policies.

Certificates of Insurance: The Tenant shall provide the Landlord with Certificates of Insurance upon execution of this Lease and upon each renewal of the insurance policies.

Indemnification

The Tenant shall indemnify and hold harmless the Landlord from and against any and all claims, losses, damages, liabilities, and expenses (including attorney’s fees) arising out of or in connection with the Tenant’s use of the Premises.

The Landlord shall indemnify and hold harmless the Tenant from and against any and all claims, losses, damages, liabilities, and expenses (including attorney’s fees) arising out of or in connection with the Landlord's gross negligence or willful misconduct.

Waiver of Subrogation: [Details Regarding Waiver of Subrogation].

Default and Remedies

Events of Default:

Failure to pay rent.

Unauthorized use of the Premises.

Abandonment of the Premises.

Notice and Cure Periods: The Landlord shall provide the Tenant with written notice of any default and a cure period of [Number] days.

Landlord's Remedies:

Re-entry and repossession of the Premises.

Acceleration of rent.

Self-help (to the extent permitted by Idaho law).

Tenant Remedies for Landlord Breach: [Tenant Remedies Details, e.g., termination, damages].

Condemnation and Casualty Loss

Condemnation: [Details Regarding Condemnation and Eminent Domain].

Casualty Loss: [Details Regarding Fire, Earthquake, or Other Casualty].

Restoration of Premises: [Details Regarding Restoration of the Premises Following Damage].

Rent Abatement: [Details Regarding Rent Abatement].

Lease Termination: [Details Regarding Lease Termination Due to Condemnation or Casualty].

Estoppel Certificate, Quiet Enjoyment, and Non-Disturbance

Estoppel Certificate: The Tenant shall, upon request by the Landlord, execute and deliver an estoppel certificate confirming the terms of this Lease.

Quiet Enjoyment: The Landlord covenants that the Tenant shall have quiet enjoyment of the Premises during the term of this Lease.

Non-Disturbance Agreement: [Details Regarding Non-Disturbance Agreement].

Surrender and Holdover

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

Treatment of Tenant Improvements: [Details Regarding Treatment of Tenant Improvements at Lease End].

Holdover: If the Tenant remains in possession of the Premises after the expiration of this Lease, the tenancy shall be month-to-month, and the rent shall increase to [Percentage]% of the then-current rent.

Signage and Advertising

Signage: The Tenant shall/shall not have the right to install signage on the Premises.

Landlord Consent: All signage requires prior written consent from the Landlord.

Compliance with Ordinances: All signage must comply with applicable building and city ordinances.

Landlord Entry

The Landlord shall have the right to enter the Premises for reasonable purposes, including repairs, inspections, and showings, upon providing the Tenant with [Number] hours’ notice.

After-Hours Access: [Details Regarding After-Hours Access].

Miscellaneous

Governing Law: This Lease shall be governed by and construed in accordance with the laws of the State of Idaho.

Integration/Entire Agreement: This Lease constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements.

Amendment Procedures: This Lease may be amended only by a written instrument signed by both parties.

Notice Addresses:

Landlord: [Landlord Notice Address]

Tenant: [Tenant Notice Address]

Delivery Methods: [Accepted Delivery Methods, e.g., certified mail, email].

Force Majeure: Neither party shall be liable for any failure to perform its obligations under this Lease due to force majeure.

Successors and Assigns: This Lease shall be binding upon and inure to the benefit of the parties and their respective successors and assigns.

Counterparts and Electronic Transmission: This Lease may be executed in counterparts, each of which shall be deemed an original, and may be transmitted electronically.

Severability: If any provision of this Lease is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

Idaho Specific Considerations

Idaho Lien Laws: The Tenant acknowledges that the Landlord may have certain lien rights under Idaho law. Tenant must comply with Idaho's Uniform Commercial Code in regard to personal property and fixtures.

Commercial Real Estate Broker Lien Notification: [Details Regarding Broker Lien Notification].

Property Disclosure Rules: [Details Regarding Idaho Property Disclosure Rules].

Local Business Regulations: [Details Regarding Local Business Regulations].

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

____________________________

[Landlord Name], Landlord

____________________________

[Tenant Name], Tenant

Notarization (Optional, but recommended in Idaho for certain lease provisions):

State of Idaho, County of [County Name]

On this [Date], before me, a Notary Public in and for said County and State, personally appeared [Landlord Name], known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that he/she executed the same.

____________________________

Notary Public

Exhibits and Attachments:

Exhibit A: Property Diagram

Exhibit B: Landlord Rules and Regulations

Exhibit C: Move-In Checklist