Nevada commercial lease agreement template

Nevada Commercial Lease Agreement

This Commercial Lease Agreement (this “Lease”) is made and entered into this [Date of Signing], by and between [Landlord Name], a [Landlord Entity Type] with its principal place of business at [Landlord Business Address] (“Landlord”), and [Tenant Name], a [Tenant Entity Type] with its principal place of business at [Tenant Business Address] (“Tenant”).

Landlord's Contact Details:

• Name: [Landlord Contact Name]
• Phone: [Landlord Phone Number]
• Email: [Landlord Email Address]

Tenant's Contact Details:

• Name: [Tenant Contact Name]
• Phone: [Tenant Phone Number]
• Email: [Tenant Email Address]

Authorized Representative for Landlord: [Landlord Authorized Representative Name]

Authorized Representative for Tenant: [Tenant Authorized Representative Name]

Property Management Company (if applicable): [Property Management Company Name]

1. Premises

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

• [Property Address]
• Legal Description: [Legal Description of Property]
• Unit/Suite Number: [Unit/Suite Number]
• Rentable Square Footage: [Rentable Square Footage]
• Usable Square Footage: [Usable Square Footage]
• Option A: The Premises includes access to common areas as described in Exhibit A.
• Option B: The Premises does not include access to any common areas. Common areas are defined as [Description of Common Areas].
• Shared Facilities: [Description of Shared Facilities, if any]
• Parking Arrangements: [Description of Parking Arrangements]

2. Term

The term of this Lease shall commence on [Lease Commencement Date] and shall expire on [Lease Expiration Date] (the "Term").

• Option A: Fixed Term. The Lease is for a fixed term as stated above.
• Option B: Periodic Term. The Lease is for a [Month-to-Month/Year-to-Year] periodic term.
• Early Possession: Tenant shall have the right to early possession commencing on [Early Possession Date].
• Holdover Tenancy: If Tenant remains in possession of the Premises after the expiration of the Term, such holding over shall not constitute a renewal or extension of this Lease unless otherwise agreed to in writing.
  • Option A: Holdover tenancy shall be on a month-to-month basis at a rental rate of [Percentage]% of the then-current monthly rent.
  • Option B: There shall be no holdover tenancy.

3. Rent

Tenant shall pay Landlord rent for the Premises as follows:

• Base Rent: [Base Rent Amount] per [Month/Year].
• Payment Frequency: Rent shall be payable [Monthly/Quarterly/Annually].
• Payment Method: Rent shall be paid by [Acceptable Payment Methods].
• 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.
• Returned Payment Fee: A fee of [Returned Payment Fee Amount] shall be charged for any returned payment.
• Prorated Rent: For any partial month, rent shall be prorated based on a [30/31]-day month.
• Additional Rent:
  • Option A: NNN Lease. Tenant shall also pay, as additional rent, Tenant's proportionate share of Common Area Maintenance (CAM) charges, property taxes, and insurance.
  • Option B: Modified Gross Lease. Tenant shall also pay, as additional rent, [Specific Expenses Tenant Pays].
  • Option C: Full-Service Gross Lease. Base Rent includes all operating expenses of the property.
  • CAM Charges: Tenant's proportionate share of CAM charges shall be [Percentage]%.
  • Property Taxes: Tenant's proportionate share of property taxes shall be [Percentage]%.
  • Insurance Contribution: Tenant's proportionate share of insurance shall be [Percentage]%.
  • Utilities: Tenant shall be responsible for the following utilities: [List of Utilities Tenant Pays].
  • Reconciliation: CAM charges, property taxes, and insurance shall be reconciled [Annually/Semi-Annually].
• Rental Increases:
  • Option A: CPI-Based Escalation. Rent shall increase annually based on the Consumer Price Index (CPI).
  • Option B: Fixed Percentage Escalation. Rent shall increase annually by [Percentage]%.
  • Option C: No Escalation. Rent shall remain the same throughout the Term.

4. Permitted Use and Exclusive Use

The Premises shall be used solely for the following purpose: [Permitted Use Description].

• Tenant shall comply with all applicable zoning laws and regulations.
• Limitations/Prohibitions on Use: [Describe any limitations or prohibitions on use].
• Option A: Exclusive Use. Landlord grants Tenant the exclusive right to operate a [Type of Business] within the property.
• Option B: No Exclusive Use. Landlord makes no representation or warranty as to exclusive use.

5. Security Deposit

Tenant shall deposit with Landlord a security deposit in the amount of [Security Deposit Amount].

• Timing of Payment: The security deposit shall be paid upon execution of this Lease.
• Permitted Uses: The security deposit may be used to cover unpaid rent, damage to the Premises, or other breaches of this Lease.
• Terms for Withholding: Landlord may withhold from the security deposit any amounts reasonably necessary to cover the costs described above.
• Nevada Law: In accordance with Nevada law, the security deposit will be returned to the tenant within [Number] days of the termination of the lease, minus any lawful deductions for damages.
• Procedure for Return: The security deposit, less any deductions, will be returned to Tenant at [Tenant's Forwarding Address].
• Allowable Deductions: Deductions may be made for [List of Allowable Deductions].

6. Tenant Improvement Allowance

• Option A: Tenant Improvement Allowance Provided. Landlord shall provide Tenant with a tenant improvement allowance of [Dollar Amount].
• Option B: No Tenant Improvement Allowance Provided.
  • Build-Out Obligations: [Describe build-out obligations and responsibilities].
  • Landlord's/Tenant's Responsibility for Construction: [Specify who is responsible for construction].
  • Approval Procedures: [Describe approval procedures for construction plans].
  • Compliance with Codes: All construction shall comply with applicable codes, including Nevada state and local regulations.
  • Completion Timelines: Construction shall be completed by [Date].
  • Fixtures and Signage Permissions: [Describe permissions for fixtures and signage].

7. Maintenance and Repair

• Landlord's Responsibility: Landlord shall be responsible for maintaining the structure and systems of the Premises, including the roof, plumbing, HVAC, and exterior walls.
• Tenant's Responsibility: Tenant shall be responsible for maintaining the interior of the Premises, including general upkeep, pest control, window cleaning, and waste disposal.
  • Option A: Landlord Responsible for HVAC Maintenance. Landlord will maintain and repair the HVAC system.
  • Option B: Tenant Responsible for HVAC Maintenance. Tenant will maintain and repair the HVAC system.

8. Insurance

Tenant shall maintain the following insurance coverage:

• Minimum Coverage Amounts: [Specify minimum coverage amounts].
• Types of Insurance Policies: [Specify types of insurance policies, e.g., commercial general liability insurance].
• Additional Insured Clause: Landlord shall be named as an additional insured on Tenant's insurance policy.
• Waiver of Subrogation: Tenant waives any right of subrogation against Landlord.
• Certificates of Insurance: Tenant shall provide Landlord with certificates of insurance upon request.
• Nevada Law: All insurance policies shall comply with applicable Nevada law.

9. Indemnification and Liability

Tenant shall indemnify and hold Landlord harmless from any and all claims, damages, liabilities, costs, and expenses arising out of Tenant's use of the Premises.

• Hold Harmless Provisions: [Specify hold harmless provisions].
• Risk Allocation: [Describe risk allocation between Landlord and Tenant].
• Limitations of Liability: [Specify any limitations of liability].
• Procedures for Handling Claims: [Describe procedures for handling claims].
• Option A: Mutual Indemnification. Both Landlord and Tenant agree to indemnify and hold each other harmless.

10. Compliance with Laws

Tenant shall comply with all applicable laws, ordinances, zoning regulations, health codes, ADA, and Nevada-specific regulatory requirements.

• Option A: Detailed Compliance Responsibilities Included. See Exhibit B for a detailed list of compliance responsibilities.
• Option B: General Compliance. Tenant agrees to general compliance with all laws.

11. Assignment and Subletting

Tenant shall not assign this Lease or sublet the Premises without Landlord's prior written consent.

• Landlord's Consent Requirements: Landlord's consent shall not be unreasonably withheld.
• Conditions: [Specify conditions for assignment or subletting].
• Permitted Transfers: [Describe any permitted transfers].
• Nevada Statutory Limitations: Any assignment or subletting shall comply with Nevada statutory limitations.
• Option A: Sublease Allowed. Landlord allows subleasing with written consent.
• Option B: No Sublease Allowed. Subleasing is strictly prohibited.

12. Access Rights and Entry

Landlord shall have the right to enter the Premises to inspect, repair, or show the Premises to prospective tenants or purchasers.

• Notice Requirements: Landlord shall provide Tenant with [Number] hours' notice prior to entry, except in cases of emergency.
• Emergencies: Landlord may enter the Premises without notice in cases of emergency.
• Limitations of Access Times: Landlord shall only enter the Premises during reasonable business hours.
• Nevada Law: Access and Entry will comply with Nevada Law.

13. Alterations and Improvements

Tenant shall not make any alterations or improvements to the Premises without Landlord's prior written consent.

• Landlord Consent Requirements: Landlord's consent shall not be unreasonably withheld.
• Procedures for Removal or Surrender: [Describe procedures for removal or surrender of alterations/improvements].
• Restoration Obligations: Tenant shall be responsible for restoring the Premises to its original condition upon the expiration of the Term.
• Option A: Specific Alterations Allowed. The following specific alterations are allowed: [List of Allowed Alterations].
• Option B: All Alterations Forbidden. No alterations are permitted.

14. Signage and Branding

Tenant shall have the right to install signage on the Premises, subject to Landlord's approval and compliance with local ordinances.

• Location: [Specify location of signage].
• Size: [Specify size limitations of signage].
• Design Approval Process: [Describe the design approval process].
• Removal Obligations: Tenant shall be responsible for removing the signage upon the expiration of the Term.
• Local Nevada Ordinances: All signage must comply with local Nevada ordinances.

15. Rules and Regulations

Tenant shall comply with all rules and regulations established by Landlord for the common areas and the property.

• Common Areas: [Specify rules for common areas].
• Parking: [Specify parking rules].
• Security: [Specify security rules].
• Deliveries: [Specify delivery rules].
• Building Operating Hours: [Specify building operating hours].
• Option A: Additional Rules and Regulations. See Exhibit C for additional property rules.

16. Surrender and Condition at Lease End

Upon the expiration of the Term, Tenant shall surrender the Premises to Landlord in good condition, reasonable wear and tear excepted.

• Removal of Personal Property: Tenant shall remove all personal property from the Premises.
• Return of Keys: Tenant shall return all keys to Landlord.
• Cleaning: Tenant shall clean the Premises.
• Restoration: [Describe any restoration obligations].
• Property Disposition: If Tenant fails to remove personal property, Landlord may dispose of such property in accordance with Nevada law.

17. Default and Remedies

• Tenant Default: The following shall constitute a default by Tenant: [List Tenant Default Scenarios]
• Landlord Default: The following shall constitute a default by Landlord: [List Landlord Default Scenarios]
• Cure Periods: [Specify Cure Periods for Tenant and Landlord Defaults]
• Notice Requirements: All notices of default must be in writing and sent by certified mail.
• Landlord Remedies: In the event of Tenant's default, Landlord shall have the right to: [List Landlord Remedies including Lockout, Damages, Acceleration]
• Nevada-Specific Default Procedures: Landlord will comply with Nevada-specific default and summary eviction procedures.

18. Destruction or Condemnation

If the Premises are damaged or destroyed by fire or other casualty, this Lease shall terminate.

• Rent Abatement: Rent shall abate during any period of uninhabitability.
• Rebuilding Obligations: [Describe rebuilding obligations].
• Termination Rights: [Specify termination rights].
• Eminent Domain: [Describe rights in case of eminent domain].

19. Casualty Insurance and Obligations

• Option A: In case of casualty, rent shall abate until the premises are repaired
• Option B: In case of casualty, landlord has the option to repair, or terminate the lease.

20. Estoppel Certificate

Either party shall, upon request of the other party, execute and deliver an estoppel certificate confirming the terms of this Lease.

• Response Timeframe: The responding party shall have [Number] days to respond to the request.
• Consequences of Delay: [Describe consequences of delay].

21. Subordination, Non-Disturbance, and Attornment (SNDA)

This Lease shall be subordinate to any existing or future mortgages on the property.

• Notice and Cure Rights: Lender shall have the right to notice and cure any defaults by Landlord.
• Option A: SNDA Agreement Required. Landlord will secure a SNDA agreement from its lender.

22. Environmental Compliance

Tenant shall not use or store any hazardous materials on the Premises.

• Clean Water Act, EPA, Nevada Hazardous Substance Disclosures: [Specify compliance with environmental regulations].

23. Waiver and Severability

No waiver of any provision of this Lease shall be effective unless in writing. If any provision of this Lease is held to be invalid, the remaining provisions shall remain in full force and effect.

24. Force Majeure

Neither party shall be liable for any failure to perform its obligations under this Lease if such failure is caused by a force majeure event.

• Events Excusing Performance: [List events excusing performance, e.g., natural disasters, government actions].

25. 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.

26. Governing Law and Jurisdiction

This Lease shall be governed by and construed in accordance with the laws of the State of Nevada. Any disputes arising out of this Lease shall be resolved in the courts of [County Name] County, Nevada.

• Alternative Dispute Resolution: [Specify alternative dispute resolution methods].

27. Attorney’s Fees and Costs

• Option A: Prevailing party is entitled to attorney’s fees and costs in case of litigation or arbitration.
• Option B: Each party bears its own attorney’s fees and costs.

28. Integration/Entire Agreement

This Lease constitutes the entire agreement between the parties and supersedes all prior or contemporaneous communications and proposals, whether oral or written, relating to the subject matter of this Lease.

29. Addenda/Exhibits

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

• Exhibit A: Common Areas
• Exhibit B: Compliance Responsibilities
• Exhibit C: Rules and Regulations
• [List of any other exhibits/addenda]

30. Signatures

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

Landlord:

[Landlord Name]

By: [Landlord Authorized Representative Name]

Title: [Landlord Authorized Representative Title]

Tenant:

[Tenant Name]

By: [Tenant Authorized Representative Name]

Title: [Tenant Authorized Representative Title]