Nevada retail lease agreement template

Nevada Retail Lease Agreement

This Nevada Retail Lease Agreement (this "Lease") is made and entered into as of this [Date], by and between [Landlord's Full Legal Name], a [Landlord's Entity Type, e.g., Nevada Corporation], with a principal place of business at [Landlord's Full Address] ("Landlord"), and [Tenant's Full Legal Name], a [Tenant's Entity Type, e.g., Nevada LLC], with a principal place of business at [Tenant's Full Address] ("Tenant").

Premises

Option A: Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, that certain retail space (the "Premises") located at [Street Address], Suite [Suite Number], in the city of [City], County of [County], State of Nevada, more particularly described as follows: [Detailed Legal Description].

Option B: The Premises are located within the [Shopping Center Name] shopping center. The Premises consists of approximately [Rentable Square Footage] rentable square feet and approximately [Usable Square Footage] usable square feet. Tenant shall have the exclusive/non-exclusive right to use the following areas: [List Exclusive Areas].

The maximum occupancy for the Premises is [Number] persons. The Premises has [Description] visibility/frontage on [Main Road Name].

Tenant is allocated [Number] dedicated retail parking spaces.

Easements affecting the premises are: [Description].

Tenant’s rights to signage include: [Fascia, Monument, Window, Pylon Description].

Rules for use of common areas include: [Description]. Hours of access are: [Days & Times]. Shared amenities include: [Description].

Permitted Use

Option A: The Premises shall be used and occupied solely for the purpose of operating a [Type of Retail Store, e.g., Clothing Boutique] and related services, and for no other purpose.

Option B: Tenant shall not use the Premises for any purpose that violates applicable Nevada zoning ordinances, local ordinances, or covenants. Tenant shall not operate a [Prohibited Use, e.g., Adult Entertainment Business] on the premises, unless permitted by all applicable local and state laws. Tenant will comply with all ADA, health, fire, and food safety codes.

Tenant shall obtain and maintain a Nevada business license and all required regulatory approvals prior to occupancy.

Tenant shall operate its business for a minimum of [Number] days per week and [Number] hours per day.

Term

Option A: The term of this Lease shall commence on [Commencement Date] (the "Commencement Date") and shall expire on [Expiration Date] (the "Expiration Date"), unless sooner terminated as provided herein.

Option B: Tenant shall have the option to renew this Lease for [Number] additional term(s) of [Number] years each, provided that Tenant gives Landlord written notice of its election to renew at least [Number] months prior to the Expiration Date.

Holding Over: If Tenant remains in possession of the Premises after the Expiration Date without a written agreement, such holdover shall be deemed a month-to-month tenancy, terminable by either party upon [Number] days' written notice, and the rent shall be [Percentage]% of the then-current rent.

Rent

Option A: The base rent shall be [Dollar Amount] per month, payable in advance on the [Day] of each month, commencing on the Commencement Date.

Option B: The base rent shall be calculated at [Dollar Amount] per square foot per year, payable in monthly installments of [Dollar Amount].

Percentage Rent: In addition to the base rent, Tenant shall pay Landlord [Percentage]% of its gross sales exceeding [Dollar Amount] per year. Sales reports are due [Time Frame].

Payment Method: Rent shall be paid by [Method, e.g., Check, Wire Transfer] to [Payee and Address/Account Info].

Late Fee: If rent is not received within [Number] days of the due date, a late fee of [Dollar Amount] shall be charged. NSF checks will incur a fee of [Dollar Amount].

Rent Escalation: The base rent shall increase by [Percentage]% on each [Anniversary Date/Interval].

Security Deposit

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.

Landlord may draw upon the security deposit to cover any damages, unpaid rent, or other amounts due from Tenant.

The security deposit shall be returned to Tenant within [Number] days after the termination of this Lease, less any amounts deducted by Landlord.

Surety bonds or letters of credit may be used in lieu of a security deposit if agreed upon by both parties.

Operating Expenses (NNN vs. Gross)

Option A (NNN Lease): Tenant shall pay its pro rata share of all property taxes, insurance, utilities, common area maintenance (CAM) charges, and repair costs. Tenant’s pro rata share is [Percentage]%.

Property Taxes: Tenant's share of property taxes will be determined according to Nevada abatement laws and assessment cycles.

Insurance: Tenant shall maintain the insurance coverage as set forth in Section [Section Number] of this lease.

Utilities: Tenant is responsible for all utilities serving the Premises.

CAM Charges: Landlord shall provide Tenant with an annual accounting of CAM charges. Tenant has the right to audit CAM charges within [Number] days of receipt of the annual statement.

Option B (Gross Lease): Landlord shall be responsible for all property taxes, insurance, utilities, and CAM charges.

Premises Condition and Improvements

Option A: The Premises are leased in "as-is" condition.

Option B: The Premises are leased as a [Built-out/Vanilla Shell/Grey Shell].

Tenant Improvements: Tenant shall be responsible for all tenant improvements. All plans must be submitted to and approved by Landlord prior to commencement of work. Landlord shall provide a tenant improvement allowance of [Dollar Amount].

Tenant shall obtain all necessary permits for tenant improvements, including lender or city approvals as required.

Restoration

Upon the expiration or termination of this Lease, Tenant shall restore the Premises to its original condition, reasonable wear and tear excepted.

Tenant shall remove all of its personal property and trade fixtures.

Tenant shall repair any damage caused by the removal of its property.

Repair and Maintenance

Landlord shall be responsible for maintaining the roof, foundation, and exterior walls of the building.

Tenant shall be responsible for maintaining the interior of the Premises, including storefront glass, HVAC, plumbing, electrical, flooring, and pest control.

Tenant is responsible for annual HVAC maintenance and repairs.

Trash removal, recycling, grease trap, and grease interceptor service shall be the responsibility of the [Landlord/Tenant].

Environmental Compliance

Tenant shall comply with all applicable Nevada environmental laws, including those relating to hazardous materials and waste disposal.

Tenant shall not store or use any hazardous materials on the Premises without Landlord's prior written consent.

Insurance

Tenant shall maintain liability insurance with minimum limits of [Dollar Amount] per occurrence and [Dollar Amount] in the aggregate.

Tenant shall maintain casualty insurance covering the Premises and its contents.

Landlord shall be named as an additional insured on Tenant's liability insurance policy.

Tenant shall provide Landlord with certificates of insurance upon request.

Landlord's Access

Landlord shall have the right to enter the Premises at reasonable times for the purpose of inspection, maintenance, or repair, provided that Landlord gives Tenant reasonable notice.

Landlord shall have the right to enter the Premises in case of emergency without notice.

Signage

Tenant's signage shall comply with all applicable local ordinances and Landlord's signage policies.

Tenant shall obtain Landlord's approval of all signage prior to installation.

Co-Tenancy

If [Anchor Tenant Name] vacates the Shopping Center, or if the occupancy rate of the Shopping Center falls below [Percentage]%, Tenant shall have the right to [Remedy, e.g., Terminate the Lease, Abate Rent].

Assignment and Subletting

Tenant shall not assign this Lease or sublet the Premises without Landlord's prior written consent, which consent shall not be unreasonably withheld.

Landlord shall have the right to recapture the Premises in the event of a proposed assignment or sublease.

Opening for Business

Tenant shall open for business within [Number] days after the Commencement Date.

Tenant shall continuously operate its business during normal business hours.

Alterations

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

Customer Service

Tenant shall maintain a high standard of customer service.

Compliance with Laws

Tenant shall comply with all applicable Nevada Revised Statutes, Nevada Real Estate Division and Real Estate Commission rules, and all applicable city and county business ordinances.

Indemnification

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

Landlord shall indemnify and hold Tenant harmless from any and all claims, losses, and liabilities arising out of Landlord's negligence.

Default and Remedies

If Tenant fails to pay rent or otherwise breaches this Lease, Landlord shall have the right to terminate this Lease and pursue all available remedies under Nevada law.

Landlord shall provide Tenant with written notice of any default and a reasonable opportunity to cure.

“Material Default” is defined as: [Definition].

Casualty and Condemnation

If the Premises are damaged by fire or other casualty, this Lease shall terminate, and rental shall abate during the period of restoration.

If the Premises are taken by eminent domain, this Lease shall terminate, and Tenant shall be entitled to compensation as provided by Nevada law.

Notices

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

Sales Reporting and Audit Rights

For percentage rent scenarios, Tenant shall keep accurate records of its gross sales.

Landlord shall have the right to audit Tenant's sales records upon reasonable notice.

Exclusivity (If Applicable)

Landlord agrees not to lease space in the Shopping Center to any business that directly competes with Tenant's business.

Radius Restriction (If Applicable)

Tenant shall not operate a similar business within a [Number] mile radius of the Premises.

Holiday and Special Event Operations

Tenant shall participate in holiday and special event operations as required by Landlord.

Temporary Closures

In the event of a temporary closure due to legal or business interruption, such as a force majeure event, the rent shall be abated proportionally.

Move-In/Move-Out

Tenant shall conduct a move-in inspection with Landlord and document any existing damage.

Upon move-out, Tenant shall return the Premises in the condition required by this Lease.

Taxes

Tenant shall be responsible for paying all applicable Nevada sales tax, use tax, and business personal property tax.

Non-Discrimination

Landlord and Tenant shall not discriminate against any person in the lease or operation of the Premises.

Governing Law

This Lease shall be governed by and construed in accordance with the laws of the State of Nevada. Venue for any disputes shall be in [County Name] County, Nevada. Mediation or arbitration is encouraged before litigation.

Entire Agreement

This Lease constitutes the entire agreement between the parties and supersedes all prior agreements and understandings.

Amendment

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

Electronic 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. The parties agree that this Lease and any documents relating to this Lease may be executed by electronic signature in accordance with the Nevada Uniform Electronic Transactions Act.

Legal and Tax Advice

Both parties acknowledge that they have had the opportunity to seek independent legal and tax advice regarding this Lease.

Brokerage

[Broker Name] represents Landlord, and [Broker Name] represents Tenant. Each party indemnifies the other against claims for brokerage commissions other than those stated herein.

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

LANDLORD:

____________________________

[Landlord's Full Legal Name]

By: ____________________________

[Landlord's Signature]

Title: [Landlord's Title]

TENANT:

____________________________

[Tenant's Full Legal Name]

By: ____________________________

[Tenant's Signature]

Title: [Tenant's Title]