Indiana retail lease agreement template

Indiana Retail Lease Agreement

This Indiana Retail Lease Agreement (the “Lease”) is made and entered into as of this [Date], by and between [Landlord Name], a [State] [Entity Type] with its principal place of business at [Landlord Address] (“Landlord”), and [Tenant Name], a [State] [Entity Type] with its principal place of business at [Tenant Address] (“Tenant”). If either party is a corporation, include the state of incorporation and corporate registration information here: [Landlord Corporate Info, if applicable] and [Tenant Corporate Info, if applicable].

1. Premises

The Landlord hereby leases to the Tenant, and the Tenant hereby leases from the Landlord, the premises (the "Premises") located at [Property Address], Suite/Unit Number [Suite Number], within the building (the "Building") commonly known as [Building Name, if applicable], which is part of the property (the "Property") described as follows: [Detailed Property Description].

The Premises consists of approximately [Square Footage] square feet of leasable area, including a retail frontage of [Frontage Length].

Option A: The Premises includes shared entrances with: [List Shared Entrances].

Option B: The Premises has exclusive entrances from: [List Exclusive Entrances].

Customer access points are located at: [List Customer Access Points].

The Tenant shall have the exclusive right to use the following described space: [Description of Exclusive Use Space].

The Tenant shall have the right to erect and maintain outdoor signage as follows: [Description of Signage Rights], subject to all applicable local and state signage restrictions, including [Specific Indiana Signage Restrictions, if any].

The Tenant shall have the right to use the following parking areas: [Description of Parking Rights], loading docks: [Description of Loading Dock Rights], and common areas: [Description of Common Area Rights] in common with other tenants and occupants of the Property.

2. Use of Premises

The Premises shall be used and occupied by the Tenant solely for the purpose of operating a [Type of Retail Business, e.g., Clothing Store, Restaurant, Convenience Store] business, and for no other purpose.

The Tenant's use of the Premises shall be in compliance with all applicable Indiana zoning ordinances, health, fire, ADA, and local business licensing requirements, including but not limited to [List Specific Indiana Regulations].

The Tenant shall be responsible for obtaining and maintaining all necessary state and local permits and licenses, including [List specific permits and licenses].

Option A: The Tenant is granted exclusive use for the business category of [Business Category]. The Landlord agrees not to lease space to any other tenant whose primary business is [Business Category].

Option B: Co-tenancy requirements: If [Anchor Tenant Name] ceases to operate at the Property, the Tenant shall have the right to [Termination Right/Rent Reduction].

The Tenant's use of the Premises shall be subject to the following restrictions: [List Use Restrictions based on Shopping Center Covenants or Anchor Tenant Agreements].

The Tenant shall not use the Premises for any purpose that is illegal under Indiana law or prohibited by the Property's covenants, conditions, and restrictions.

3. Term

The term of this Lease shall be for a period of [Number] years, commencing on [Start Date] (the "Commencement Date") and expiring on [End Date] (the "Expiration Date").

Option A: Fixturing/Free Rent Period: The Tenant shall have a [Number] day fixturing period, commencing on [Fixturing Start Date], during which time the Tenant shall not be required to pay rent.

Option B: Renewal Option: The Tenant shall have the option to renew this Lease for [Number] additional term(s) of [Number] years each, provided that the Tenant gives the Landlord written notice of its intention to renew at least [Number] months prior to the Expiration Date. The rent for the renewal term shall be determined as follows: [Rent Determination Method].

Termination Rights: [Describe any termination rights for either party].

Early Termination Option: [Describe early termination options for the tenant, including any liquidated damages formula as per Indiana law]. The liquidated damages shall be calculated as follows: [Liquidated Damages Formula].

Assignment/Subletting: The Tenant shall not assign this Lease or sublet the Premises without the Landlord's prior written consent, which consent shall not be unreasonably withheld, subject to Indiana statutes. [Specify conditions for assignment/subletting].

4. Rent

The base rent for the Premises shall be [Dollar Amount] per year, payable in equal monthly installments of [Dollar Amount], due on the [Day] day of each month, commencing on the Commencement Date.

Option A: Percentage Rent: In addition to the base rent, the Tenant shall pay percentage rent equal to [Percentage]% of the Tenant's gross sales exceeding [Dollar Amount] in any calendar year. The Tenant shall furnish the Landlord with audited sales reports within [Number] days after the end of each calendar year.

Option B: Rent Escalation: The base rent shall increase by [Percentage]% on [Date/Event].

Security Deposit: The Tenant shall deposit with the Landlord a security deposit in the amount of [Dollar Amount]. The security deposit may be used by the Landlord to cover damages to the Premises or unpaid rent. The Landlord shall return the security deposit to the Tenant within [Number] days after the Expiration Date, less any deductions for damages or unpaid rent, in accordance with Indiana code. Interest on the security deposit, if any, shall be handled as per Indiana code.

Option A: Triple Net (NNN) Lease: In addition to the base rent, the Tenant shall pay its proportionate share of common area maintenance (CAM) charges, property taxes, and insurance premiums.

Option B: Gross Lease: The base rent includes CAM charges, property taxes, and insurance premiums.

Common Area Maintenance (CAM): The Tenant's proportionate share of CAM charges shall be calculated as follows: [CAM Calculation Method].

Property Taxes: The Tenant's proportionate share of property taxes shall be calculated as follows: [Property Tax Calculation Method], in accordance with Indiana law regarding special assessments.

Insurance Contributions: The Tenant's proportionate share of insurance premiums shall be calculated as follows: [Insurance Premium Calculation Method].

Utility Consumption: The Tenant shall be responsible for paying for all utilities consumed at the Premises, including [List Utilities].

5. Payment

The Tenant shall pay rent to the Landlord at [Payment Address] or such other place as the Landlord may designate in writing.

Rent is due on the [Day] day of each month.

Late Charge: If rent is not paid within [Number] days after the due date, the Tenant shall pay a late charge of [Dollar Amount] or [Percentage]% of the overdue amount, whichever is greater.

Returned Check Fee: The Tenant shall pay a fee of [Dollar Amount] for any check returned for insufficient funds.

Record-Keeping: The Tenant shall maintain accurate records of gross sales and shall make such records available to the Landlord for inspection upon reasonable notice.

6. Maintenance and Repair

Landlord Responsibilities: The Landlord shall be responsible for maintaining the structural elements of the Building, including the roof, foundation, and exterior walls, as well as common areas.

Tenant Responsibilities: The Tenant shall be responsible for maintaining the interior of the Premises, including non-structural repairs, HVAC, plumbing, electrical systems, retail equipment, and display systems.

HVAC Maintenance: [Specify responsibility for HVAC maintenance].

Plumbing Maintenance: [Specify responsibility for plumbing maintenance].

Electrical Maintenance: [Specify responsibility for electrical maintenance].

Trash/Dumpster Access: The Tenant shall have access to the following trash/dumpster facilities: [Description of Trash/Dumpster Access].

Retail-Related Utility Improvements: [Specify responsibility for retail-related utility improvements].

Snow/Ice Removal: [Specify responsibility for snow/ice removal, in line with Indiana commercial standards].

7. Tenant Improvements

The Tenant shall obtain the Landlord's prior written approval for any tenant improvements to the Premises.

The Tenant shall be responsible for obtaining all necessary permits per local code for any tenant improvements.

Restoration: At the end of the Lease term, the Tenant shall restore the Premises to its original condition, reasonable wear and tear excepted, or as otherwise agreed upon in writing. [Specify "make-good" obligations at lease end].

Ownership of Improvements: [Specify ownership of improvements, e.g., tenant owned unless permanently affixed, reverts to landlord, etc.].

Leasehold Mortgage: The Tenant shall have the right to obtain a leasehold mortgage, subject to the Landlord's approval. [Specify conditions for leasehold mortgage].

8. Signage and Advertising

The Tenant shall have the right to erect and maintain signage on the Premises, subject to the Landlord's prior written approval and compliance with all applicable local ordinances.

All signage must comply with local ordinances, including [List Specific Ordinances].

The Tenant shall be responsible for removing and repairing any signage at the end of the Lease term.

The Tenant's signage rights include: [Requirements for illuminated or freestanding signs].

9. Insurance

The Tenant shall maintain the following insurance coverage: [Specify minimum insurance coverage compliant with Indiana law] including property, liability, business interruption, and any product-specific or liquor liability coverage as needed. Minimum coverage amounts: [Specify Coverage Amounts].

The Tenant shall provide the Landlord with proof of insurance coverage prior to the Commencement Date and upon renewal of any policy.

Waiver of Subrogation: [Include waiver of subrogation provisions].

10. Taxes and Licenses

The Tenant shall be responsible for paying all applicable Indiana state sales/use tax and local taxes on rent or business conducted on the Premises.

The Tenant shall be responsible for securing and maintaining all necessary state permits and licenses, including [List specific permits and licenses].

The Tenant shall indemnify and hold harmless the Landlord from any and all claims, damages, or liabilities arising from any illegal or non-conforming retail activity conducted on the Premises.

11. Default and Remedies

If the Tenant fails to pay rent when due or otherwise breaches this Lease, the Landlord shall have the following remedies:

Right to Cure Period: The Tenant shall have a right to cure period of [Number] days after written notice from the Landlord to cure any default.

Repossession: The Landlord shall have the right to repossess the Premises as permitted by Indiana law.

Damages: The Landlord shall be entitled to recover damages for the Tenant's breach of this Lease.

Lockout Rights: [Specify lockout rights as permitted by Indiana law].

The Landlord shall comply with all statutory notice and eviction procedures in compliance with Indiana Code § 32-31-1 et seq. and § 32-31-5 et seq.

12. Delivery of Possession

The Landlord shall deliver possession of the Premises to the Tenant on the Commencement Date.

Landlord's Work: [Requirements for owner's completion of landlord’s work (if any)].

The Tenant shall coordinate its move-in and move-out with the Landlord.

The Tenant shall surrender the Premises at the end of the Lease term in broom-clean condition.

13. Personal Property

The Tenant shall remove all of its fixtures, inventory, and trade equipment from the Premises at the end of the Lease term.

Abandoned Property: Any property left on the Premises after the Expiration Date shall be deemed abandoned and may be disposed of by the Landlord in accordance with Indiana code.

Security Deposit Disposition: The Landlord shall dispose of the security deposit in accordance with Section 4 above.

14. Miscellaneous

Brokerage Commission Disclosure: [Disclose brokerage commissions, if any].

Estoppel Certificate: The Tenant shall execute and deliver to the Landlord an estoppel certificate within [Number] days of request.

Attornment and Subordination: This Lease is subordinate to any existing or future mortgages on the Property. The Tenant agrees to attorn to any new owner of the Property.

Non-Disturbance: The Landlord shall provide the Tenant with a non-disturbance agreement from any existing or future lenders.

ADR: Any dispute arising out of or relating to this Lease shall be resolved through [Mediation/Arbitration].

Jurisdiction and Venue: This Lease shall be governed by and construed in accordance with the laws of the State of Indiana. The venue for any legal action shall be in [County] County, Indiana.

Landlord Access: The Landlord shall have the right to access the Premises for inspection, repairs, or showing the Premises to prospective tenants or purchasers, upon providing the Tenant with reasonable advance notice of at least [Number] hours.

Environmental Compliance: The Tenant shall comply with all applicable environmental regulations, including regulations regarding hazardous substances and waste handling. [Specify retail-specific waste handling].

Fire Safety: The Tenant shall comply with all applicable Indiana state fire safety standards.

Emergency Procedures: [Include emergency procedures].

Disaster Recovery: [Include disaster recovery plan].

ADA Compliance: The Tenant shall comply with the Americans with Disabilities Act (ADA) for retail customers, including any tenant build-out obligations.

Indemnification: The Tenant shall indemnify and hold harmless the Landlord from any and all claims, damages, or liabilities arising from the Tenant's use of the Premises, including but not limited to customer slip-and-fall incidents, product liability, theft, or on-premises injuries.

Shopping Center Rules and Regulations: This Lease is subject to the shopping center rules and regulations attached hereto as Exhibit A.

Local Assessments: The Tenant is responsible for any local vendor, business improvement district, or merchant association assessments. [Specify details of assessments].

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

Integration: This Lease constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements.

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

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

This Lease is a commercial lease and is governed by Indiana commercial leasing law. It is not a residential lease.

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

Landlord:

[Landlord Name]

By: [Landlord Signature]

Name: [Landlord Printed Name]

Title: [Landlord Title]

Tenant:

[Tenant Name]

By: [Tenant Signature]

Name: [Tenant Printed Name]

Title: [Tenant Title]