Mississippi office lease agreement template

Mississippi Office Lease Agreement

This Mississippi Office Lease Agreement (the “Agreement”) is made and entered into as of [Date], by and between [Landlord Legal Name], whose address is [Landlord Address] (“Landlord”), and [Tenant Legal Name], whose address is [Tenant Address] (“Tenant”).

Premises:

• Option A: Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the premises (the “Premises”) located at [Property Address], and legally described as [Legal Parcel Description], specifically Suite/Floor [Suite/Floor Number], consisting of approximately [Square Footage] square feet, as measured by BOMA standards.
• Option B: Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, certain space (the “Premises”) located within the building at [Property Address], as depicted on Exhibit A attached hereto and incorporated herein, specifically Suite/Floor [Suite/Floor Number], consisting of approximately [Square Footage] square feet.
• The Premises includes the following private space: [Description of Private Space].
• The Premises includes use of the following common areas and amenities: [List of Common Areas and Amenities (e.g., meeting rooms, restrooms, lobbies, security, parking, elevators, HVAC, fiber/internet access)].
• Tenant shall have the exclusive use of the following areas: [List of Exclusive Areas (e.g., reserved offices, signage space)].

Use of Premises:

• Option A: The Premises shall be used and occupied by Tenant solely for general office purposes and for no other purpose.
• Option B: The Premises shall be used and occupied by Tenant solely for the following specific office purposes: [Detailed Description of Permitted Office Activities] and for no other purpose.
• Tenant shall not use the Premises for any illegal purpose, or for any purpose that violates any applicable law, ordinance, or regulation.
• Tenant shall not store or use any hazardous substances on the Premises without Landlord’s prior written consent.
• Tenant shall comply with all building operational rules and regulations, which are attached hereto as Exhibit B and incorporated herein.
• Tenant shall comply with all applicable Mississippi state laws, the Americans with Disabilities Act (ADA), zoning ordinances, and local ordinances.

Lease Term:

• Option A: The term of this Lease shall commence on [Start Date] and expire on [End Date] (the "Lease Term").
• Option B: The term of this Lease shall commence on the earlier of [Start Date] or the date Landlord substantially completes the build-out of the Premises, and shall expire [Number] years thereafter (the "Lease Term"). Landlord shall notify Tenant in writing of the actual commencement date.
• Renewal Option: Tenant shall have the option to renew this Lease for one additional term of [Number] years, provided that Tenant gives Landlord written notice of its intent to renew at least [Number] days prior to the expiration of the initial Lease Term. The rental rate for the renewal term shall be [Renewal Rate or Calculation Method].
• Holding Over: If Tenant remains in possession of the Premises after the expiration of the Lease Term, such holdover shall be a month-to-month tenancy, subject to all of the terms and conditions of this Lease, except that the monthly rent shall be [Percentage] of the then-current monthly rent.
• Early Termination:
  • Option A: Tenant shall not have the right to terminate this Lease early.
  • Option B: Tenant may terminate this Lease early by providing Landlord with [Number] days written notice and paying a termination penalty equal to [Amount or Formula for Termination Penalty, compliant with Mississippi statutes].
• All notices related to termination or renewal must adhere to Mississippi state law.

Rent:

• Base Rent: Tenant shall pay Landlord base rent in the amount of [Dollar Amount] per month, payable in advance on the first day of each month, commencing on [Rent Commencement Date].
• Escalation: The base rent shall increase by [Percentage] percent on each anniversary of the commencement date.
• Payment Method: Rent shall be paid by [Accepted Payment Methods (e.g., check, wire transfer, ACH)] to Landlord at the address specified above or as otherwise directed by Landlord in writing.
• Taxes: Tenant shall be responsible for the payment of all applicable Mississippi sales or local use taxes on the rent.
• Real Estate Taxes:
  • Option A: This is a gross lease, and Landlord shall be responsible for the payment of all real estate taxes.
  • Option B: This is a net lease, and Tenant shall pay its pro rata share of real estate taxes, calculated as the ratio of the square footage of the Premises to the total leasable square footage of the building.

Security Deposit:

• Amount: Tenant shall deposit with Landlord a security deposit in the amount of [Dollar Amount], which shall be held by Landlord as security for the performance of Tenant's obligations under this Lease.
• Permitted Deductions: Landlord may use the security deposit to cover damages to the Premises, unpaid rent, or cleaning costs, in accordance with Miss. Code Ann. § 89-8-21.
• Return of Security Deposit: Landlord shall return the security deposit to Tenant within [Number] days after the expiration of the Lease Term, less any deductions for permitted purposes.

Operating Expenses:

• Definition: Operating Expenses shall include all costs and expenses incurred by Landlord in operating, maintaining, and repairing the building, including, but not limited to, CAM (common area maintenance) charges, repair/maintenance pass-throughs, utilities, janitorial services, trash removal, HVAC, sprinkler and fire alarm monitoring.
• Allocation: Tenant shall pay its pro rata share of Operating Expenses, calculated as the ratio of the square footage of the Premises to the total leasable square footage of the building.
• Utility Billing: Tenant shall be responsible for paying directly for the following utilities: [List of Utilities Tenant Pays Directly]. Landlord shall bill Tenant for the following utilities: [List of Utilities Landlord Bills Tenant For].
• Expense Calculation and Dispute: Landlord shall provide Tenant with an annual statement of Operating Expenses. Tenant shall have the right to review Landlord’s records to verify the accuracy of the statement. If Tenant disputes the statement, Tenant shall notify Landlord in writing within [Number] days of receipt of the statement.

Tenant Improvements:

• Allowance: Landlord shall provide Tenant with a tenant improvement allowance of [Dollar Amount] to be used for improvements to the Premises.
• Alterations: Tenant shall not make any alterations to the Premises without Landlord’s prior written consent, which consent shall not be unreasonably withheld.
• Plans and Permits: Tenant shall be responsible for obtaining all necessary permits and approvals for any alterations. All work must adhere to Mississippi code inspections.
• Restoration: Upon the expiration of the Lease Term, Tenant shall restore the Premises to its original condition, reasonable wear and tear excepted.

Maintenance and Repair:

• Landlord’s Obligations: Landlord shall be responsible for maintaining and repairing the structure, roof, and major systems (HVAC, elevators, plumbing, electrical) of the building.
• Tenant’s Obligations: Tenant shall be responsible for maintaining and repairing the interior of the Premises, including but not limited to, fixtures, equipment, and furnishings. Tenant is responsible for damage caused by misuse.

Damage, Destruction, and Condemnation:

• If the Premises are damaged by fire or other casualty, Landlord shall have the option to repair the Premises or terminate this Lease.
• If the Premises are rendered untenantable, rent shall abate until the Premises are restored.
• If the Premises are condemned, this Lease shall terminate.
• Any proceeds from insurance or condemnation shall be allocated as agreed upon between Landlord and Tenant, consistent with Mississippi law.

Insurance:

• Tenant shall maintain commercial general liability insurance with minimum coverage of [Dollar Amount] per occurrence.
• Tenant shall maintain fire and property insurance covering Tenant’s personal property.
• Landlord shall maintain fire and property insurance covering the building.
• All insurance policies shall contain a waiver of subrogation in favor of the other party, as recognized by Mississippi law.

Fire and Life Safety:

• Tenant shall comply with all applicable fire and life safety codes and regulations.
• Tenant shall participate in emergency evacuation drills.
• Tenant shall maintain all fire alarm and sprinkler systems in good working order.

Move-In and Move-Out:

• Tenant shall provide Landlord with [Number] days’ notice prior to moving in or out of the Premises.
• Upon the expiration of the Lease Term, Tenant shall surrender the Premises in good condition, reasonable wear and tear excepted.
• Tenant shall remove all of its personal property from the Premises.

Assignment and Sublease:

• Tenant shall not assign this Lease or sublease the Premises without Landlord’s prior written consent, per Mississippi law.
• Landlord shall not unreasonably withhold its consent.
• Landlord shall have the right of first refusal to sublease the Premises.

Access to Premises:

• Landlord shall have the right to enter the Premises for purposes of inspection, repair, or showing the Premises to prospective tenants or purchasers, provided Landlord gives Tenant reasonable notice, per Mississippi custom.
• Landlord will provide reasonable notification except in cases of emergency.
• After-hours building access will be as follows: [Describe After-Hours Access Policy].

Indemnification:

Tenant shall indemnify and hold Landlord harmless from any and all claims, losses, damages, and liabilities arising out of Tenant’s use of the Premises, subject to Landlord's own negligence or willful misconduct. This indemnification is tailored for Mississippi law.

Compliance with Laws:

• Tenant shall comply with all applicable Mississippi real estate, tax, and licensing laws.
• Tenant is responsible for obtaining and maintaining all necessary state/local business registrations and occupancy certificates and ensuring business activity complies with all Mississippi commercial/office zoning requirements.

Environmental Compliance:

Tenant shall comply with all applicable environmental laws and regulations, including those of the Mississippi Department of Environmental Quality and the EPA.

Taxes:

• Real property taxes shall be allocated as follows: [Describe Allocation of Real Property Taxes].
• Tenant is responsible for business personal property tax on tenant-owned equipment/furniture.
• Applicable state/local sales or use taxes on lease payments will be handled as follows: [State how these taxes are handled].

Dispute Resolution:

• Any dispute arising out of or relating to this Lease shall be resolved through negotiation, mediation, and, if necessary, binding commercial arbitration.
• This Lease shall be governed by and construed in accordance with the laws of the State of Mississippi. Venue shall be in the county where the property is located.
• Both parties waive the right to a jury trial.

Default:

• Events of Default: The following shall constitute events of default under this Lease: failure to pay rent when due, failure to comply with any other term or condition of this Lease, abandonment of the Premises, or insolvency of Tenant.
• Cure Period: Tenant shall have [Number] days to cure any default after receiving written notice from Landlord.
• Landlord’s Remedies: Upon the occurrence of an event of default, Landlord shall have the right to terminate this Lease, re-enter the Premises, and recover damages, as per Mississippi statutes.

Discrimination:

Landlord and Tenant agree not to discriminate against any person based on race, color, religion, sex, national origin, age, disability, or familial status, in violation of Mississippi’s Human Rights Act and applicable federal civil rights laws.

Miscellaneous:

• Notices: 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 to the addresses set forth above.
• Entire Agreement: This Lease constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral.
• Amendment: This Lease may be amended only by a writing signed by both parties.
• Governing Law: This Lease shall be governed by and construed in accordance with the laws of the State of Mississippi.
• Force Majeure: Neither party shall be liable for any delay or failure to perform its obligations under this Lease due to any cause beyond its reasonable control, including but not limited to acts of God, war, or terrorism.
• Signage: Tenant’s signage shall comply with Landlord’s signage restrictions, which are attached hereto as Exhibit C.
• Smoking Policy: Smoking is [Permitted/Prohibited] on the Premises and in the common areas of the building, in accordance with local regulations and building policies.
• Parking: Tenant shall be entitled to [Number] parking spaces.

Mississippi Specific Clauses

• Landlord and Tenant acknowledge their responsibilities for property registration and business license obligations in Mississippi.
• Compliance with Mississippi landlord and tenant disclosure requirements, including lead-based paint (if pre-1978 property) and any state/local-specific environmental health/safety notices.
• Any unique city/county office market practices relevant to this Lease: [Describe any relevant practices, such as rental adjustment procedures or specific security standards.]

Exhibits and Addenda:

• Exhibit A: Premises Plan
• Exhibit B: Building Rules and Regulations
• Exhibit C: Signage Restrictions
• Exhibit D: Estoppel Form
• Exhibit E: Emergency Contacts
• Exhibit F: Certificate of Insurance Requirements

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

Landlord:

____________________________

[Landlord Legal Name]

By: [Landlord Signature]

[Landlord Printed Name and Title]

Tenant:

____________________________

[Tenant Legal Name]

By: [Tenant Signature]

[Tenant Printed Name and Title]