Idaho retail lease agreement template

Idaho Retail Lease Agreement

This Idaho Retail Lease Agreement (the "Agreement") is made and entered into as of this [Date], by and between [Landlord Name], residing at [Landlord Address] ("Landlord"), and [Tenant Name], residing at [Tenant Address] ("Tenant"). If either party is a legal entity, indicate the type of entity: Landlord: [Landlord Entity Type, e.g., LLC, Corporation], Tenant: [Tenant Entity Type, e.g., LLC, Corporation].

• Landlord Contact Information:
  • Address: [Landlord Address]
  • Phone: [Landlord Phone Number]
  • Email: [Landlord Email Address]
• Tenant Contact Information:
  • Address: [Tenant Address]
  • Phone: [Tenant Phone Number]
  • Email: [Tenant Email Address]

The Landlord and Tenant agree as follows:

1. Leased Premises

• The Landlord leases to the Tenant, and the Tenant leases from the Landlord, the following premises (the "Premises") located at [Property Address], including suite/unit number(s) [Suite/Unit Number(s)] and legally described as: [Legal Description].
• Total Square Footage: [Square Footage].
• Detailed Space Layout: [Description of layout].
• Access Points: [List access points].
• Exclusive Use Areas: [List exclusive use areas, e.g., storefront, parking spaces].

2. Permitted Use

• Option A: The Premises shall be used solely for the purpose of operating a retail business of [Type of Retail Business]. Operating hours: [Operating Hours].
• Option B: The Premises shall be used for general retail purposes, subject to Landlord's approval of the specific business to be conducted by Tenant. Proposed business: [Proposed Business].
• Signage: [Signage details].
• Window Displays: [Window display details].
• Compliance: Tenant shall comply with all federal, Idaho state, and local ordinances, including Idaho retail licensing and zoning laws.

3. ADA and Compliance

• Option A: The Premises currently comply with the Americans with Disabilities Act (ADA) and all applicable state and local accessibility mandates.
• Option B: Tenant is responsible for ensuring the Premises comply with ADA and all applicable state and local accessibility mandates prior to commencement of business.
• Health and Safety: Tenant shall comply with all applicable health and public safety codes relevant to retail operations, including Idaho food service or public assembly rules, if applicable.

4. Lease Term

• Commencement Date: [Start Date]
• Expiration Date: [End Date]
• Option A: Renewal Options: Tenant shall have [Number] option(s) to renew the lease for a term of [Renewal Term Length] each, provided Tenant gives Landlord written notice at least [Number] months prior to the expiration of the then-current term.
• Option B: No Renewal Option.
• Holdover: If Tenant remains in possession of the Premises after the Expiration Date, such holdover shall be on a month-to-month basis at a rental rate equal to [Percentage]% of the then-current Base Rent.
• Early Termination: [Early termination conditions and notice periods as per Idaho law]

5. Rent

• Base Rent: [Rent Amount] per [Month/Year], payable in advance on the [Day] day of each [Month/Payment Frequency].
• Payment Method: [Payment Method, e.g., check, electronic transfer].
• Late Fees: A late fee of [Late Fee Amount] shall be charged for any rent payment received more than [Number] days after the due date, within the boundaries set by Idaho statute.
• Option A: Rent Escalation: The Base Rent shall increase by [Percentage]% on [Date/Anniversary Date].
• Option B: Percentage Rent: In addition to the Base Rent, Tenant shall pay Landlord percentage rent equal to [Percentage]% of Tenant's gross sales exceeding [Sales Threshold] during each [Month/Year]. Tenant shall provide Landlord with monthly sales reports and access to records for audit purposes.

6. Security Deposit

• Security Deposit Amount: [Deposit Amount].
• Deposit Use: The Security Deposit may be used to cover damages to the Premises, unpaid rent, or other amounts due under this Agreement, subject to Idaho landlord-tenant law.
• Return of Security Deposit: The Security Deposit, less any deductions, shall be returned to Tenant within [Number] days after the termination of this Agreement and Tenant's surrender of the Premises, as per Idaho law.

7. Expenses

• Option A: Triple Net (NNN) Lease: Tenant shall pay, in addition to the Base Rent, all property taxes, insurance premiums, and common area maintenance (CAM) expenses associated with the Premises.
• Option B: Modified Gross Lease: Tenant shall pay, in addition to the Base Rent, its pro rata share of certain operating expenses, including [List of Expenses].
• Option C: Gross Lease: Landlord shall pay all operating expenses associated with the Premises.
• Utilities: Tenant shall be responsible for all utilities, including water, sewer, power, trash, internet, and HVAC.

8. Tenant Improvements

• Option A: Tenant shall make no alterations or improvements to the Premises without Landlord's prior written consent.
• Option B: Tenant shall be permitted to make certain improvements, subject to Landlord's approval of plans and specifications. List of approved improvements: [List improvements].
• Approval Process: Landlord shall approve or disapprove Tenant's proposed improvements within [Number] days of submission.
• Licensed Contractors: All improvements shall be performed by Idaho-licensed contractors.

9. Repair and Maintenance

• Landlord Responsibilities: Landlord shall maintain the roof, foundation, and exterior walls of the Premises, as well as the common areas.
• Tenant Responsibilities: Tenant shall maintain the interior of the Premises in good repair and condition, including regular cleaning, equipment servicing, and glass and façade upkeep.
• Hazardous Conditions: Tenant shall promptly report any hazardous conditions to Landlord.

10. Insurance

• Tenant Insurance: Tenant shall maintain commercial general liability insurance with minimum coverage of [Amount], naming Landlord as an additional insured.
• Landlord Insurance: Landlord shall maintain property insurance covering the Premises.
• Waiver of Subrogation: To the extent permitted by law, both parties waive any rights of subrogation against the other.

11. Indemnification

Tenant shall indemnify and hold Landlord harmless from any claims arising out of Tenant's use of the Premises. [Specify other exceptions and limitations]

12. Fire, Security, and Emergency Procedures

Tenant shall comply with all applicable fire prevention, security, and emergency procedures consistent with Idaho Fire Code and local fire marshal regulations.

Landlord Access: Landlord shall have the right to enter the Premises for inspections and repairs with reasonable advance written notice per Idaho statutes, except in cases of emergency.

13. Casualty Damage

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

Rent Abatement: If the Premises are untenantable, rent shall be abated until the Premises are restored.

14. Assignment and Subletting

Tenant shall not assign this Agreement or sublet the Premises without Landlord's prior written consent, which shall not be unreasonably withheld, subject to Idaho’s anti-discrimination and public accommodation laws.

15. Default

• Landlord Default: If Landlord fails to perform any of its obligations under this Agreement, Tenant shall provide Landlord with written notice and an opportunity to cure the default within [Number] days.
• Tenant Default: If Tenant fails to pay rent or otherwise breaches this Agreement, Landlord shall provide Tenant with written notice and an opportunity to cure the default within the statutory notice-to-cure requirements. [Specify accelerated rent rights, reentry, lockout procedures as per Idaho commercial eviction procedures].

16. Move-In/Move-Out

• Condition of Premises: Tenant accepts the Premises in its current "as-is" condition.
• Move-Out: Upon termination of this Agreement, Tenant shall surrender the Premises in broom-clean condition, removing all personal property and fixtures.
• Security Deposit Reconciliation: Landlord shall reconcile the Security Deposit under Idaho law.

17. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of Idaho. Venue for any dispute shall be in [County Name] County, Idaho.

18. Notices

All notices required or permitted under this Agreement shall be in writing and delivered by certified mail, return receipt requested, to the addresses set forth above.

19. Sales Tax and Permits

Tenant is responsible for compliance with all local sales tax collection/filing obligations and shall handle Idaho sales tax, business personal property tax, and permits essential to retail business operations.

20. Miscellaneous

• Confidentiality: [Confidentiality clause]
• Estoppel Certificates: [Estoppel certificate clause]
• Quiet Enjoyment: Landlord grants Tenant quiet enjoyment of the Premises as per Idaho law.
• Amendment: Any amendment to this Agreement must be in writing and signed by both parties.

21. Environmental Compliance

Tenant shall comply with all Idaho environmental requirements related to retail business (e.g., hazardous materials storage, waste disposal if applicable).

22. Severability

If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect to the fullest extent permitted by Idaho statutes.

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

____________________________

[Landlord Name]

____________________________

[Tenant Name]