New Hampshire commercial lease agreement template

New Hampshire Commercial Lease Agreement

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

[Landlord Name], a [Landlord Entity Type] with a registered address at [Landlord Address], Phone: [Landlord Phone], Email: [Landlord Email], hereinafter referred to as "Landlord," and

[Tenant Name], a [Tenant Entity Type] with a registered address at [Tenant Address], Phone: [Tenant Phone], Email: [Tenant Email], hereinafter referred to as "Tenant."

If applicable:

[Landlord Authorized Signatory Name] is the authorized signatory for the Landlord.

[Tenant Authorized Signatory Name] is the authorized signatory for the Tenant.

1. Leased Premises

The Landlord hereby leases to the Tenant, and the Tenant hereby leases from the Landlord, the premises located at [Address of Leased Premises, including Unit/Suite Number, Building Name, Floor], with a square footage of [Square Footage], and further described as: [Legal Property Description or Parcel Identification] (the "Premises").

2. Permitted Use

The Premises shall be used and occupied solely for the purpose of: [Intended Business Activities].

Restrictions on Use: [List of Restrictions, if any. E.g., no retail sales, no food preparation].

Option A: Tenant shall obtain Landlord's written consent prior to using the Premises for any purpose other than the Permitted Use.

Option B: Tenant may use the Premises for any lawful purpose consistent with the character of the building and in compliance with all applicable laws, ordinances and regulations.

3. Lease Term

Option A: Fixed Term. The term of this Lease shall commence on [Start Date] and end on [End Date].

Option B: Month-to-Month. The term of this Lease shall be month-to-month, commencing on [Start Date]. Either party may terminate this Lease with [Number] days written notice to the other party.

Option A: Renewal/Extension. Tenant shall have the option to renew/extend this lease for [Number] additional term(s) of [Duration of Term] each, provided that Tenant provides Landlord with written notice of its intent to renew/extend at least [Number] days prior to the expiration of the then-current term. The rent for the renewal/extended term shall be [Rent Amount or Formula].

Option B: No Renewal Option. There is no renewal option.

Holding Over: Any holding over by Tenant after the expiration of the term shall be construed as a tenancy at will, subject to the terms and conditions of this Lease, and at a rental rate of [Percentage]% of the then-current rent.

4. Rent

The monthly rent for the Premises shall be [Rent Amount].

Option A: Rent Payment Schedule: Rent shall be payable monthly in advance on the [Day] of each month.

Option B: Rent Payment Schedule: Rent shall be payable quarterly in advance on the first day of each quarter.

Option C: Rent Payment Schedule: Rent shall be payable annually in advance on the first day of each year.

Accepted Payment Methods: [List of Accepted Payment Methods, e.g., Check, Wire Transfer, ACH].

Late Payment Penalty: If rent is not received within [Number] days of the due date, a late fee of [Dollar Amount or Percentage]% shall be assessed.

Insufficient Funds Fee: A fee of [Dollar Amount] shall be charged for any check returned for insufficient funds.

Option A: Rent Escalation Clause: The monthly rent shall increase by [Percentage]% annually, commencing on [Date].

Option B: Rent Escalation Clause: The monthly rent shall be adjusted annually based on the Consumer Price Index (CPI) for [Specific CPI Index], with the adjustment taking effect on [Date]. The new rent shall be calculated by multiplying the initial monthly rent by a fraction, the numerator of which is the CPI for the month of [Month], [Year] and the denominator of which is the CPI for the month of [Month], [Year].

Option C: No Rent Escalation. There shall be no rent escalation.

Initial Payments: Tenant shall pay the following upon execution of this Lease: first month's rent of [Dollar Amount], last month's rent of [Dollar Amount].

5. Security Deposit

The Tenant shall deposit with the Landlord a security deposit in the amount of [Dollar Amount].

Purpose of Security Deposit: The security deposit shall be held by the Landlord as security for the Tenant's performance of its obligations under this Lease, including, but not limited to, payment of rent and damages to the Premises.

Deductions from Security Deposit: Landlord may deduct from the security deposit reasonable charges to repair damage to the Premises caused by Tenant or Tenant's guests and invitees (normal wear and tear excepted), to clean the Premises if left in an unclean condition, or to compensate Landlord for any other breach by Tenant.

Return of Security Deposit: Landlord shall return the remaining security deposit, less any lawful deductions, to Tenant within [Number] days after the termination of this Lease and Tenant's surrender of the Premises.

Account Separation: Although not legally required in New Hampshire for commercial leases, Landlord agrees to hold the security deposit in a separate account at [Bank Name].

6. Other Deposits

Option A: Key Deposit. Tenant shall pay a key deposit of [Dollar Amount], refundable upon return of all keys to the Premises.

Option B: Utility Deposit. Tenant shall pay a utility deposit of [Dollar Amount], which will be applied to the final utility bill upon termination of the lease.

Option C: Signage Deposit. Tenant shall pay a signage deposit of [Dollar Amount], refundable upon removal of signage and restoration of the building facade.

Option D: No Other Deposits Required.

7. Expense Responsibility

Option A: Gross Lease. Landlord shall be responsible for all operating expenses of the Premises, including CAM fees, utilities, taxes, insurance, and repairs/maintenance.

Option B: Modified Gross Lease.

Landlord shall be responsible for: [List of Landlord Responsibilities, e.g., Property Taxes, Insurance].

Tenant shall be responsible for: [List of Tenant Responsibilities, e.g., Utilities, CAM Fees].

Option C: Triple-Net (NNN) Lease. Tenant shall be responsible for all operating expenses of the Premises, including CAM fees, utilities (water, electric, gas, trash, telecommunications), property taxes, insurance (property, liability, casualty), and repairs/maintenance (roof, HVAC, plumbing, fixtures).

CAM Fees: If Tenant is responsible for CAM fees, the estimated annual CAM fee is [Dollar Amount], payable in monthly installments of [Dollar Amount]. Landlord shall provide Tenant with an annual accounting of CAM expenses.

Utilities: If Tenant is responsible for utilities, Tenant shall establish and maintain accounts with the utility providers.

8. Tenant Improvements

Option A: Tenant Improvements Included. Landlord shall perform the following tenant improvements at Landlord's sole cost and expense: [Description of Tenant Improvements].

Option B: Tenant Improvements by Tenant. Tenant shall perform the following tenant improvements at Tenant's sole cost and expense, subject to Landlord's approval of the plans and specifications: [Description of Tenant Improvements].

Option C: No Tenant Improvements. No tenant improvements are included in this Lease.

Scope of Work: [Detailed description of the tenant improvement work].

Cost Allocation and Approval Process: [Description of cost allocation and approval process].

Construction Standards: [Description of construction standards].

Build-Out Period: The build-out period shall be [Number] days.

Ownership of Improvements: Upon expiration or termination of this Lease, all tenant improvements shall become the property of the Landlord, except for [List of Exceptions].

9. Alterations and Additions

Option A: Tenant May Make Alterations. Tenant may make alterations and additions to the Premises with Landlord's prior written consent, which consent shall not be unreasonably withheld.

Option B: Tenant May Not Make Alterations. Tenant shall not make any alterations or additions to the Premises without Landlord's prior written consent.

Approval Process: Tenant shall submit detailed plans and specifications for any proposed alterations or additions to Landlord for approval.

Restoration Obligations: Upon expiration or termination of this Lease, Tenant shall restore the Premises to its original condition, reasonable wear and tear excepted, unless otherwise agreed in writing by Landlord.

Conditional Requirements: All alterations and additions shall comply with all applicable building codes, ordinances, and regulations.

10. Common Area Rights

Tenant shall have the right to use the common areas of the building, including [List of Common Areas, e.g., hallways, restrooms, parking areas], in common with other tenants of the building.

Parking Rights: Tenant shall be entitled to [Number] parking spaces in the designated parking area.

Parking space numbers: [Parking Space Numbers]

Signage Rights: Tenant shall have the right to install signage on the exterior of the Premises, subject to Landlord's approval and compliance with all applicable laws and regulations. [Specify Signage Restrictions]

Accessibility Accommodations: Landlord represents that the Premises are in compliance with all applicable accessibility laws and regulations, including the Americans with Disabilities Act (ADA).

11. Permitted and Prohibited Use

Permitted Use: See Section 2.

Prohibited Use: Tenant shall not use the Premises for any of the following purposes:

Storage or use of hazardous materials in violation of applicable law.

Any activity that creates a nuisance or disturbance to other tenants.

Any unlawful activity.

Any activity that violates applicable zoning regulations.

12. Repair and Maintenance

Option A: Landlord Responsibility. Landlord shall be responsible for all repairs and maintenance of the Premises, including ordinary repairs, capital improvements, emergency repairs, and pest control.

Option B: Shared Responsibility.

Landlord shall be responsible for: [List Landlord Responsibilities, e.g., roof, structural components, HVAC].

Tenant shall be responsible for: [List Tenant Responsibilities, e.g., interior maintenance, plumbing fixtures].

Emergency Repairs: In the event of an emergency requiring immediate repair, Tenant shall notify Landlord immediately. If Landlord fails to commence repairs within [Number] hours, Tenant may make the necessary repairs and deduct the reasonable cost thereof from the rent.

13. Assignment and Subletting

Option A: Assignment and Subletting Permitted. Tenant may assign this Lease or sublet the Premises with Landlord's prior written consent, which consent shall not be unreasonably withheld.

Option B: Assignment and Subletting Not Permitted. Tenant shall not assign this Lease or sublet the Premises without Landlord's prior written consent.

Approval Requirements: Landlord may require Tenant to provide financial information and other information about the proposed assignee or subtenant.

Fees: Landlord may charge a reasonable fee for processing an assignment or subletting request.

Landlord's Recapture Rights: If Tenant desires to assign this Lease or sublet the Premises, Landlord shall have the right to terminate this Lease and recapture the Premises.

14. Insurance Requirements

Tenant shall maintain the following insurance policies:

General Liability Insurance: [Dollar Amount] per occurrence.

Property Insurance: Covering the Tenant's personal property and improvements in the Premises.

Business Interruption Insurance: Covering loss of income due to business interruption.

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

Waiver of Subrogation: Tenant shall obtain a waiver of subrogation from its insurance carrier in favor of Landlord.

Proof of Insurance: Tenant shall provide Landlord with a certificate of insurance evidencing the required coverage prior to the commencement of the Lease and upon each renewal of the policies.

15. Indemnification

Tenant shall indemnify and hold harmless Landlord from and against any and all claims, losses, damages, liabilities, and expenses (including attorney's fees) arising out of or relating to Tenant's use and occupancy of the Premises, except to the extent caused by the negligence or willful misconduct of Landlord.

Landlord shall indemnify and hold harmless Tenant from and against any and all claims, losses, damages, liabilities, and expenses (including attorney's fees) arising out of or relating to Landlord's negligence or willful misconduct.

16. Entry and Inspection

Landlord shall have the right to enter the Premises at reasonable times and with reasonable advance notice for the purpose of inspecting the Premises, making repairs, or showing the Premises to prospective tenants or purchasers.

Advance Notice Requirements: Except in the case of an emergency, Landlord shall provide Tenant with at least [Number] hours' notice prior to entering the Premises.

Emergency Access: In the event of an emergency, Landlord may enter the Premises without prior notice.

17. Default and Remedies

Events of Default: The following shall constitute events of default by Tenant:

Failure to pay rent when due.

Failure to comply with any other material term or condition of this Lease.

Abandonment of the Premises.

Opportunity to Cure: If Tenant defaults, Landlord shall provide Tenant with written notice of the default and an opportunity to cure the default within [Number] days.

Landlord's Remedies: If Tenant fails to cure a default within the applicable cure period, Landlord may pursue any of the following remedies:

Terminate this Lease.

Evict Tenant from the Premises.

Sue Tenant for damages, including unpaid rent and the cost of reletting the Premises.

Accelerate rent for the remainder of the lease term.

18. Lease Termination/Expiration

Early Termination:

Option A: Early Termination Permitted with Penalty. Tenant may terminate this Lease prior to the expiration of the term by paying Landlord a termination fee of [Dollar Amount].

Option B: No Early Termination Permitted. Tenant shall not have the right to terminate this Lease prior to the expiration of the term.

Option C: Mutual Termination. This lease may be terminated by mutual written agreement of both parties.

Required Notices: Tenant shall provide Landlord with written notice of its intent to vacate the Premises at least [Number] days prior to the expiration of the term.

Surrender of Premises: Upon the expiration or termination of this Lease, Tenant shall surrender the Premises to Landlord in good condition, reasonable wear and tear excepted.

Restoration: If Tenant made any alterations or additions to the Premises, Tenant shall restore the Premises to its original condition, unless otherwise agreed in writing by Landlord.

Final Walk-Through/Inspection: Landlord and Tenant shall conduct a final walk-through inspection of the Premises upon the expiration or termination of this Lease.

19. Option Clauses

Option A: Option to Renew. Tenant shall have the option to renew this Lease for an additional term of [Number] years, provided that Tenant provides Landlord with written notice of its intent to renew at least [Number] days prior to the expiration of the initial term.

Option B: Option to Expand. Tenant shall have the option to lease additional space in the building, as described in Exhibit [Exhibit Number], subject to the terms and conditions set forth therein.

Option C: Option to Purchase. Tenant shall have the option to purchase the Premises, as described in Exhibit [Exhibit Number], subject to the terms and conditions set forth therein.

Option D: Right of First Refusal. Tenant shall have the right of first refusal to lease any other space in the building that becomes available during the term of this Lease.

Option E: Right of First Offer. Tenant shall have the right of first offer to purchase the property during the term of the lease.

20. Estoppel Certificate

Tenant shall, within [Number] days after written request from Landlord, execute and deliver to Landlord an estoppel certificate certifying the following: (i) that this Lease is in full force and effect; (ii) that there are no uncured defaults by Landlord or Tenant under this Lease; (iii) the date to which rent has been paid; and (iv) such other matters as Landlord may reasonably request. Tenant's failure to timely deliver the Estoppel Certificate shall constitute acceptance of the content provided by Landlord.

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

This Lease shall be subordinate to any existing or future mortgages or deeds of trust encumbering the Premises.

Non-Disturbance: Provided that Tenant is not in default under this Lease, Tenant's possession of the Premises shall not be disturbed by any foreclosure of any mortgage or deed of trust encumbering the Premises.

Attornment: Tenant shall attorn to any successor owner of the Premises.

22. Casualty and Condemnation

If the Premises are damaged by fire or other casualty, Landlord shall repair the Premises, unless the damage is so substantial as to render the Premises untenantable.

Abatement of Rent: If the Premises are untenantable due to fire or other casualty, the rent shall abate during the period of untenantability.

Termination Rights: If the Premises are substantially damaged or condemned, either party may terminate this Lease.

23. Force Majeure

Neither party shall be liable for any failure to perform its obligations under this Lease due to causes beyond its reasonable control, including, but not limited to, acts of God, war, terrorism, riots, strikes, pandemics, or governmental regulations.

24. Compliance with Laws

Tenant shall comply with all applicable laws, ordinances, and regulations in its use and occupancy of the Premises, including accessibility laws and regulations.

25. Personal Guaranty

Option A: Personal Guaranty Required. [Guarantor Name], residing at [Guarantor Address], personally guarantees the Tenant's performance of all of its obligations under this Lease, as set forth in the attached Guaranty Agreement.

Option B: No Personal Guaranty Required. No personal guaranty is required under this Lease.

26. Environmental Compliance

Tenant shall not use, store, or dispose of any hazardous materials on the Premises in violation of applicable environmental laws.

Required Disclosures: Tenant shall disclose to Landlord any known environmental conditions on the Premises.

Tenant shall indemnify Landlord from any claims arising out of Tenant's use or disposal of hazardous materials.

27. Signage, Advertising and Naming Rights

Tenant shall have the right to install signage on the Premises, subject to Landlord's approval of the design and location of the signage.

Landlord Approval: All signage must be approved by Landlord in writing prior to installation.

Maintenance Obligations: Tenant shall be responsible for maintaining the signage in good condition.

Removal/Restoration: Upon the expiration or termination of this Lease, Tenant shall remove the signage and restore the Premises to its original condition.

28. Relocation Rights

Option A: Landlord's Right to Relocate. Landlord shall have the right to relocate Tenant to another suitable space in the building, provided that Landlord pays for all of Tenant's relocation expenses.

Option B: No Relocation Rights. Landlord shall not have the right to relocate Tenant during the term of this Lease.

29. Quiet Enjoyment

Landlord warrants that Tenant shall have quiet enjoyment of the Premises during the term of this Lease, provided that Tenant is not in default.

30. Dispute Resolution

Option A: Negotiation. The parties shall attempt to resolve any disputes arising out of or relating to this Lease through good faith negotiation.

Option B: Mediation. If the parties are unable to resolve a dispute through negotiation, they shall submit the dispute to mediation.

Option C: Arbitration. Any dispute arising out of or relating to this Lease shall be settled by binding arbitration in accordance with the rules of the American Arbitration Association.

Option D: Litigation. Any dispute arising out of or relating to this lease shall be settled by litigation in the state of New Hampshire. Venue shall be [County], New Hampshire.

Attorney's Fees: The prevailing party in any dispute arising out of or relating to this Lease shall be entitled to recover its reasonable attorney's fees and costs.

Option A: Waiver of Jury Trial. Both parties waive their rights to a jury trial.

31. Notice Requirements

All notices required or permitted 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 reputable overnight courier service, to the addresses set forth above.

Email Notification Permitted: Notice may also be provided via email with confirmation of receipt.

32. Merger and Integration

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

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

33. Severability

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

34. Waiver

No waiver of any provision of this Lease shall be effective unless in writing and signed by the party against whom the waiver is sought to be enforced.

35. Counterparts and 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.

Electronic signatures shall have the same force and effect as original signatures.

36. Recording

Option A: Tenant May Record Memorandum of Lease. Tenant shall have the right to record a memorandum of this Lease in the appropriate land records.

Option B: Tenant May Not Record Memorandum of Lease. Tenant shall not record a memorandum of this Lease without Landlord's prior written consent.

Recording Costs: Tenant shall be responsible for all recording costs.

37. State-Specific Mandatory Disclosures (New Hampshire)

Radon Gas: "Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Radon levels are likely to be higher in some geographic areas than in others. New Hampshire law requires sellers and landlords of real property to provide prospective purchasers and tenants with a radon disclosure form.

Lead Paint: If the property was constructed before 1978, the attached lead paint disclosure is incorporated into this lease.

38. New Hampshire-Specific Requirements

This lease is subject to the applicable provisions of New Hampshire law, including RSA 540, to the extent they apply to commercial leases.

39. Special Provisions

[Insert any special provisions here, such as unique use restrictions or requirements specific to the business]

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

Landlord:

____________________________

[Landlord Name]

By: ____________________________

[Landlord Authorized Signatory Name] (if applicable)

Tenant:

____________________________

[Tenant Name]

By: ____________________________

[Tenant Authorized Signatory Name] (if applicable)