Iowa retail lease agreement template

Iowa Retail Lease Agreement

This Iowa Retail Lease Agreement (the "Agreement") is made and entered into as of [Date of Agreement], by and between:

[Landlord Full Legal Name], a [Landlord Entity Type, e.g., LLC, Corporation, Individual], with a principal place of business at [Landlord Address] ("Landlord"), and

[Tenant Full Legal Name], a [Tenant Entity Type, e.g., LLC, Corporation, Individual], with a principal place of business at [Tenant Address] ("Tenant").

Landlord and Tenant, for the consideration stated herein, do hereby covenant, promise and agree as follows:

Premises

The Landlord leases to the Tenant, and the Tenant leases from the Landlord, the following described premises (the "Premises"):

• Address: [Property Address]
• Unit/Suite Number: [Unit/Suite Number]
• Rentable Square Footage: [Rentable Square Footage] square feet
• Building Layout/Floor Plan: [Brief Description or Attach Floor Plan as Exhibit A]
• Exclusive Use Area: [Description of Exclusive Use Area, if any]
• Storage Areas: [Description of Storage Areas, if any]

Use of Premises

• Permitted Use: The Premises shall be used solely for the purpose of [Specific Permitted Retail Use, e.g., Restaurant, Clothing Store].
• Use Restrictions:
  • Option A: There are no use restrictions other than those imposed by applicable law.
  • Option B: The following use restrictions apply: [Specific Use Restrictions, e.g., No sale of tobacco products].
• Hours of Operation: [Specific Hours of Operation, or reference to shopping center hours]
• Exclusivity Provision:
  • Option A: Tenant shall have no exclusive right to operate its business.
  • Option B: Landlord agrees not to lease space within the [Shopping Center Name] to any other business whose primary business is [Specific Exclusive Business Type]. This exclusivity does not apply to businesses occupying space as of the date of this lease.
• Compliance: Tenant shall comply with all applicable Iowa local zoning ordinances, building codes, and business licensing requirements.

Term

• Initial Term: The term of this Lease shall commence on [Start Date] and shall end on [End Date].
• Renewal Option:
  • Option A: Tenant shall have no option to renew this Lease.
  • Option B: Tenant shall have [Number] option(s) to renew this Lease for a term of [Renewal Term Length] each, provided Tenant is not in default. Tenant must provide written notice of its intent to renew at least [Number] months prior to the expiration of the then-current term. The rent for the renewal term shall be [Rent Determination Method, e.g., Fair market value, CPI increase].
• Early Termination:
  • Option A: Tenant shall have no right to terminate this Lease early.
  • Option B: Tenant may terminate this Lease early by providing [Number] months written notice to Landlord and paying a termination fee equal to [Termination Fee Amount or Formula].
• Expansion Rights:
  • Option A: Tenant shall have no expansion rights.
  • Option B: If space becomes available adjacent to Tenant’s Premises, Tenant shall have the first right of refusal to lease said space.

Rent and Payments

• Base Rent: The base rent for the Premises shall be [Base Rent Amount] per [Month/Year], payable in advance on the [Day] day of each [Month/Payment Period].
• Security Deposit: Tenant shall deposit with Landlord a security deposit in the amount of [Security Deposit Amount], to be held by Landlord as security for the performance of Tenant's obligations under this Lease.
• Advance Rent: [Amount of Advance Rent, if any], to be applied to rent due for [Month(s)].
• Rent Commencement Date: [Rent Commencement Date]
• Rent Escalation:
  • Option A: The base rent shall not be subject to escalation.
  • Option B: The base rent shall increase by [Percentage]% on each [Date or Anniversary of Lease].
  • Option C: The base rent shall increase annually based on the Consumer Price Index (CPI) for [Specific CPI Index], with a maximum increase of [Percentage]% per year.
• Common Area Maintenance (CAM): Tenant shall pay its pro rata share of CAM expenses, which are currently estimated to be [Estimated CAM Amount] per [Month/Year], payable in accordance with the terms outlined in Exhibit [Exhibit Letter].
• Utilities: Tenant shall be responsible for payment of the following utilities: [List of Utilities, e.g., Electricity, Gas, Water]. Landlord shall be responsible for [List of Landlord-Provided Utilities, if any].
• Property Taxes: [Allocation of Property Tax Responsibility - See Below]
• Building Insurance: Tenant shall pay its pro rata share of building insurance premiums, estimated at [Estimated Insurance Amount] per [Month/Year].
• Special Assessments: [Responsibility for Special Assessments]
• Rent Abatement:
  • Option A: There shall be no rent abatement.
  • Option B: Tenant shall receive rent abatement for [Number] months, commencing on [Start Date].
• Late Payment Penalty: A late payment penalty of [Late Payment Penalty Amount or Percentage] shall be charged for any rent payment received more than [Number] days after the due date.
• Returned Check Fee: A fee of [Returned Check Fee Amount] shall be charged for any returned check.
• Payment Methods: Rent and other payments shall be made by [Permitted Payment Methods, e.g., Check, Wire Transfer].

Property Taxes

• Option A: Landlord shall be responsible for the payment of all real property taxes assessed against the Premises.
• Option B: Tenant shall pay its pro rata share of real property taxes, determined by the ratio of the rentable square footage of the Premises to the total rentable square footage of the building. Landlord shall provide Tenant with copies of tax bills. Tenant shall have the right to appeal property tax assessments, subject to Landlord’s approval.
• Retail Sales Tax: Tenant is responsible for payment of all applicable Iowa retail sales taxes on rents.
• Gross Sales Report:
  • Option A: Not applicable.
  • Option B: Tenant shall provide Landlord with a monthly report of gross sales within [Number] days of the end of each month.

Maintenance and Repair

• Landlord's Obligations: Landlord shall be responsible for maintaining and repairing the structural elements of the building, including the roof, exterior walls, and common areas.
• Tenant's Obligations: Tenant shall be responsible for maintaining and repairing the interior of the Premises, including fixtures, equipment, and interior systems.
• Routine Inspections: Landlord shall have the right to inspect the Premises upon reasonable notice to Tenant.
• Service Providers: Landlord shall select and manage all service providers for common areas. Tenant shall be responsible for engaging its own service providers for the Premises' interior, provided that such providers are licensed and insured.
• Repair Notice: Tenant shall provide Landlord with prompt written notice of any necessary repairs to areas for which Landlord is responsible.

Alterations and Improvements

• Permitted Alterations: Tenant shall not make any alterations or improvements to the Premises without Landlord's prior written consent, which consent shall not be unreasonably withheld.
• Construction Standards: All alterations and improvements shall be constructed in a good and workmanlike manner, in compliance with all applicable building codes and regulations.
• ADA Compliance: Tenant shall be responsible for ensuring that all alterations and improvements comply with the Americans with Disabilities Act (ADA).
• Iowa Accessibility and Fire Codes: All improvements must adhere to current Iowa accessibility and fire codes.
• Restoration: Upon termination of this Lease, Tenant shall restore the Premises to its original condition, reasonable wear and tear excepted, unless otherwise agreed to in writing by Landlord.
• Ownership of Improvements: All alterations and improvements made by Tenant shall become the property of Landlord upon termination of this Lease, unless otherwise agreed to in writing.

Subletting and Assignment

• Subletting/Assignment Rights: Tenant shall not sublet the Premises or assign this Lease without Landlord's prior written consent, which consent shall not be unreasonably withheld.
• Landlord Approval Process: Tenant shall provide Landlord with written notice of any proposed subletting or assignment, including the name and financial information of the proposed subtenant or assignee.
• Financial Standards: Landlord may require that any proposed subtenant or assignee meet reasonable financial standards.
• Iowa Specific Statutory Restrictions: Assignment and subletting rights are subject to any limitations prescribed by Iowa law.

Signage

• Signage Rules: All signage shall comply with local ordinances, mall/center guidelines (if applicable), and Landlord's signage criteria.
• Window Displays: Tenant shall maintain attractive and professional window displays.
• Advertising: Tenant's advertising shall comply with all applicable laws and regulations and shall not be offensive or disruptive.
• Municipal Codes: Tenant is responsible for securing all necessary signage permits as required by municipal codes.

Insurance

• General Liability Insurance: Tenant shall maintain general liability insurance with a minimum coverage of [Coverage Amount] per occurrence.
• Property Insurance: Tenant shall maintain property insurance covering Tenant's personal property and improvements in the Premises.
• Loss of Business Insurance: Tenant shall maintain business interruption insurance.
• Iowa Specific Policies: All insurance policies shall be issued by companies authorized to do business in Iowa.
• Waivers of Subrogation: The lease should include mutual waivers of subrogation to the extent covered by insurance.
• Certificate of Insurance: Tenant shall provide Landlord with a certificate of insurance evidencing the required coverage.

Indemnification

Indemnification Obligations: Tenant shall indemnify and hold Landlord harmless from and against any and all claims, losses, damages, liabilities, and expenses arising out of Tenant's use of the Premises or Tenant's breach of this Lease. This includes, but is not limited to, claims of personal injury and property damage.

Iowa Legal Standards: The indemnification obligations shall be interpreted and enforced in accordance with Iowa law.

Environmental Compliance

• Waste Disposal: Tenant shall be responsible for proper waste disposal and recycling.
• Hazardous Materials: Tenant shall not store or use any hazardous materials on the Premises without Landlord's prior written consent.
• Pest Control: Tenant shall maintain pest control services for the Premises.
• Iowa Environmental Health and Sanitation Codes: Tenant must comply with all relevant Iowa environmental health and sanitation codes applicable to retail properties.

Landlord's Access

• Inspection Rights: Landlord shall have the right to enter the Premises upon reasonable notice to inspect the Premises and make necessary repairs.
• Showing Space: Landlord shall have the right to show the Premises to prospective tenants or buyers upon reasonable notice to Tenant.
• Notice Period: Landlord shall provide Tenant with at least [Number] hours' notice prior to entering the Premises, except in cases of emergency.

Compliance with Laws

• Iowa Civil Rights Act: Tenant shall comply with the Iowa Civil Rights Act and all other applicable laws and regulations.
• Anti-Discrimination: Tenant shall not discriminate against any person on the basis of race, color, religion, sex, national origin, age, disability, or familial status.
• Historic Preservation: The tenant will comply with all local historic preservation or business district rules if applicable.

Default and Remedies

• Default: The occurrence of any of 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, abandonment of the Premises.
• Grace Period: Tenant shall have a grace period of [Number] days to cure any monetary default and [Number] days to cure any non-monetary default.
• Remedies: Upon the occurrence of a default by Tenant, Landlord shall have the right to pursue all available remedies, including termination of this Lease, eviction, and recovery of damages, in accordance with Iowa law. Landlord follows the statutory eviction and unlawful detainer procedures as per Iowa Code.

Casualty and Condemnation

• Casualty: If the Premises are damaged by fire or other casualty, this Lease shall terminate unless Landlord elects to repair the Premises within a reasonable time. Rent shall abate during the period of repair.
• Condemnation: If the Premises are taken by eminent domain, this Lease shall terminate. Tenant shall be entitled to compensation for its personal property and improvements. All processes must follow Iowa state and local regulations.
• Insurance Proceeds: Landlord will receive all insurance proceeds for damage to the building; tenant to receive proceeds for tenant's personal property and improvements.

Security Deposit

• Security Deposit Amount: The security deposit shall be [Security Deposit Amount].
• Escrow: Landlord shall hold the security deposit in an escrow account, as required by Iowa law.
• Withholdings: Landlord may withhold from the security deposit only such amounts as are reasonably necessary to cover unpaid rent, damage to the Premises, or other amounts owed by Tenant under this Lease.
• Dispute Procedure: Any disputes regarding the security deposit shall be resolved in accordance with Iowa law.
• Return of Security Deposit: The landlord will return the security deposit within 30 days of the termination of the lease provided the tenant has satisfied all lease terms.

Move-In/Move-Out

• Move-In Condition: The Landlord will provide the premises in good working order for the tenant’s use.
• Restoration Obligations: Tenant will restore the premises to its original state, except for normal wear and tear, at the end of the lease.
• Key Return: Tenant will return all keys, fixtures, or tenant’s property by the lease termination date.

Dispute Resolution

• Negotiation: The parties shall first attempt to resolve any disputes arising out of this Lease through good faith negotiation.
• Mediation: If negotiation is unsuccessful, the parties shall attempt to resolve the dispute through non-binding mediation.
• Jurisdiction/Venue: Any legal action arising out of this Lease shall be brought in the Iowa District Court for [County Name] County.
• Choice of Law: This Lease shall be governed by and construed in accordance with the laws of the State of Iowa.

Licenses and Permits

• Business Licenses: Tenant shall obtain and maintain all required state and local business licenses, including any food service or alcohol licenses, if applicable.
• Compliance with Iowa Department of Inspections and Appeals: Tenant shall comply with all applicable rules and regulations of the Iowa Department of Inspections and Appeals.

Shopping Center Provisions (If Applicable)

• Common Area Signage: Tenant shall adhere to all rules regarding common area signage.
• Co-Tenancy Requirements: [Co-Tenancy Requirements, if any]
• Anchor Tenant Clauses: [Clauses related to anchor tenants]
• Reciprocal Easements: Subject to existing reciprocal easements.
• Parking Allocation: Parking will be allocated according to shopping center/strip mall rules.
• Loading Zones: Loading zones will be used according to shopping center/strip mall rules.
• Holiday Trading Hours: Holiday trading hours will be according to center schedule.

Rules and Regulations

• Shared Spaces: Tenant shall comply with all rules and regulations regarding the use of shared spaces.
• Deliveries: Deliveries shall be made during designated hours only.
• Noise: Tenant shall not create excessive noise that disturbs other tenants.
• Prohibited Activities: Tenant shall not engage in any prohibited activities on the Premises.
• Fire Exits: Tenant shall maintain clear fire exits and comply with all fire evacuation procedures.
• Iowa Fire Marshal Requirements: Tenant shall comply with all applicable Iowa Fire Marshal requirements.

Notices

• Notice Methods: All notices shall be in writing and shall be deemed to have been duly given when delivered personally, sent by certified mail, or sent by email.
• Addresses: Notices to Landlord shall be sent to [Landlord Address]. Notices to Tenant shall be sent to [Tenant Address].
• Business Day Definition: "Business Day" means Monday through Friday, excluding legal holidays in Iowa.
• Amendment of Rules: Landlord may amend building rules with reasonable notice to Tenant.

Exhibits

The following exhibits are attached to and incorporated into this Lease:

• Exhibit A: Property Legal Description
• Exhibit B: Plans/Specifications for Improvements (if applicable)
• Exhibit C: Building Operating Rules
• Exhibit D: Rent Schedule
• Exhibit E: Insurance Certificate Form
• Exhibit F: Tenant Business License Copy

Governing Law

This Lease is drafted to comply with Iowa Code Chapters 562A, 562B, and any applicable municipal ordinances for retail commercial properties, including mandatory disclosures or landlord registration where required.

Miscellaneous

• Relationship of Parties: This Lease shall not be construed as creating a partnership or joint venture between Landlord and Tenant.
• Entire Agreement: This Lease constitutes the entire agreement between the parties and supersedes all prior agreements and understandings.
• Signatures: This Lease may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
• Electronic Execution/Notarization: [Iowa-specific requirements for electronic execution and notarization, if applicable]

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

____________________________
[Landlord Full Legal Name]

____________________________
[Tenant Full Legal Name]