New Mexico office lease agreement template

New Mexico Office Lease Agreement

This Office Lease Agreement ("Lease") is made and entered into as of this [Date] by and between [Landlord Name], residing at [Landlord Address] ("Landlord"), and [Tenant Name], residing at [Tenant Address] ("Tenant").

If either party is a business entity, include registered business address below:

Landlord Entity Registered Business Address: [Landlord Registered Business Address]

Tenant Entity Registered Business Address: [Tenant Registered Business Address]

Broker Disclosure: [Disclosure Statement (if applicable)]

Premises

Option A: Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the office space located at [Property Address], more particularly described as Suite/Unit [Suite/Unit Number], containing approximately [Rentable Square Footage] rentable square feet, located on the [Floor Location] floor of the building (the "Premises").

Option B: Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the office space located at [Property Address], more particularly described on Exhibit A attached hereto, containing approximately [Rentable Square Footage] rentable square feet (the "Premises").

Common Areas: The Premises include the right to use, in common with other tenants of the Building, the common areas, including but not limited to: parking spaces, elevators, stairwells, lobbies, restrooms, shared conference rooms, kitchens, IT/server rooms, rooftop access (if any), and any amenities specific to the building. [List specific common area amenities]

Capacity Limits: The maximum occupancy of the Premises is [Number] persons.

Use of Premises

Option A: The Premises shall be used solely for general office purposes and no other purpose.

Option B: The Premises shall be used solely for [Specific Office Use, e.g., accounting, legal services] purposes and no other purpose.

The Tenant shall comply with all applicable Albuquerque/municipal zoning codes, city ordinances, and any applicable office use licensing requirements unique to New Mexico.

Prohibited Activities: The following activities are strictly prohibited on the Premises: handling hazardous materials (unless permitted and in compliance with all laws), medical practice (unless authorized for office buildings), retail operations, or residential use. [List any other prohibited activities]

Signage

Option A: Tenant shall have the right to install a sign at [Sign Location] subject to Landlord's prior written approval, which shall not be unreasonably withheld. The sign must comply with all applicable New Mexico state or municipal sign ordinances.

Option B: Tenant's signage shall be limited to [Specific Signage Details, e.g., a plaque on the suite door] and must comply with Landlord's signage policy.

Term

Option A: The term of this Lease shall commence on [Start Date] and shall expire on [Expiration Date].

Option B: The term of this Lease shall commence on [Start Date] and shall expire on [Expiration Date], with an option to renew for an additional term of [Renewal Term Length], provided Tenant gives Landlord written notice of its intent to renew at least [Notice Period] days prior to the expiration of the initial term.

Early Termination: Tenant shall have the right to terminate this Lease early in the event of [Permitted Reasons for Early Termination, e.g., condemnation, legal changes affecting use] with [Notice Period] days written notice to Landlord.

Holdover: If Tenant remains in possession of the Premises after the expiration of the term, such holdover shall be deemed a month-to-month tenancy at a rental rate equal to [Percentage]% of the then-current base rent.

Rent

Option A: The base rent shall be [Rent Amount] per month, payable in advance on the first day of each month. This equates to a rate of [Rate per Square Foot] per square foot per year.

Option B: The base rent shall be [Rent Amount] per month, payable in advance on the first day of each month, with an annual escalation of [Percentage]%.

Rent Increase: Rent shall increase according to the following schedule or formula: [CPI adjustments, fixed increases, or pass-through of property expenses]

Payment Method: Rent shall be paid by [Payment Method, e.g., electronic transfer, check] to Landlord at [Payment Address].

Allocation of Operating Expenses: This is a [Triple Net, Modified Gross, Full-Service Gross] lease. [If applicable, specify allocation of operating expenses.]

New Mexico Gross Receipts Tax: Rent is subject to New Mexico Gross Receipts Tax, which shall be [Percentage]% and collected by Landlord along with the base rent. Landlord is responsible for reporting and remitting the tax to the State of New Mexico.

Security Deposit

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

Landlord may use the security deposit to cover any damages to the Premises caused by Tenant, unpaid rent, or other breaches of this Lease.

Landlord shall return the security deposit to Tenant, less any deductions, within [Number] days after the termination of the Lease and Tenant's surrender of the Premises, in accordance with New Mexico law.

Utilities and Services

Tenant shall be responsible for the following utilities and services: [List Tenant's Responsibilities, e.g., electricity, gas, internet].

Landlord shall be responsible for the following utilities and services: [List Landlord's Responsibilities, e.g., water, janitorial, trash removal, HVAC maintenance].

Landlord reserves the right to interrupt services for repairs or emergencies, with reasonable notice to Tenant whenever possible.

Building Rules and Regulations

Tenant shall comply with all building rules and regulations, which are attached hereto as Exhibit B.

Access Hours: The building's access hours are [Access Hours].

After-Hours Access: Procedures for after-hours access are as follows: [After-Hours Access Procedures].

Tenant Improvements

Option A: Tenant shall make no alterations or improvements to the Premises without Landlord's prior written consent.

Option B: Landlord shall provide Tenant with a tenant improvement allowance of [Dollar Amount] to be used for improvements to the Premises. All improvements must be approved by Landlord and comply with all applicable building codes and the New Mexico Construction Industries Licensing Act.

Any alterations or improvements shall become the property of the Landlord upon termination of this Lease.

Repair and Maintenance

Tenant shall be responsible for routine upkeep and maintenance of the Premises, including [Tenant's Maintenance Responsibilities].

Landlord shall be responsible for maintaining the structural components of the building, including the roof, foundation, and exterior walls, as well as the building systems, including HVAC, plumbing, and electrical.

Tenant shall promptly notify Landlord of any defects or hazards on the Premises.

Landlord Access

Landlord shall have the right to enter the Premises for inspection, repairs, or showings to prospective tenants or purchasers, upon providing Tenant with at least [Number] hours' notice, except in the case of an emergency.

Insurance

Tenant shall maintain commercial general liability insurance with minimum limits of [Dollar Amount].

Tenant shall also maintain property insurance for its personal property and improvements on the Premises.

Tenant shall provide Landlord with proof of insurance upon request.

Landlord shall maintain building insurance.

Indemnification

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, except to the extent caused by Landlord's negligence or willful misconduct.

Fire and Emergency Procedures

Tenant shall comply with all applicable fire and emergency procedures.

Evacuation Plan: The building's evacuation plan is attached hereto as Exhibit C.

Tenant is responsible for compliance with the New Mexico Fire Code and local ordinances.

Assignment and Subletting

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

Option B: Tenant may assign this Lease or sublet the Premises with Landlord's prior written consent. Landlord shall be entitled to [Percentage]% of any profit Tenant receives from such assignment or subletting.

Default

If Tenant fails to pay rent or otherwise breaches this Lease, Landlord shall provide Tenant with written notice of the default and a period of [Number] days to cure the default.

If Tenant fails to cure the default within the cure period, Landlord may terminate the Lease and pursue all available remedies, including eviction and recovery of damages.

Surrender

Upon termination of this Lease, Tenant shall surrender the Premises in good condition, reasonable wear and tear excepted.

Tenant shall remove all of its personal property from the Premises and repair any damage caused by such removal.

Regulatory Compliance

Tenant shall comply with all applicable federal, state, county, and city statutes, including the New Mexico Uniform Owner-Resident Relations Act (for reference only, as this is a commercial lease), building safety inspections, and ADA compliance if applicable.

Taxes

Tenant shall be responsible for any increases in property taxes attributable to Tenant's improvements to the Premises.

Tenant shall also be responsible for any business personal property tax assessed on Tenant's personal property located on the Premises.

Dispute Resolution

Any dispute arising out of or relating to this Lease shall be resolved through [Negotiation, Mediation, Binding Arbitration, or State Court Litigation] in [County Name] County, New Mexico.

Governing Law: This Lease shall be governed by and construed in accordance with the laws of the State of New Mexico.

Notices

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, to the addresses set forth above.

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, including but not limited to fire, flood, government order, or other events beyond the party's reasonable control.

Entire Agreement

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.

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

____________________________

[Landlord Name]

Landlord

____________________________

[Tenant Name]

Tenant

Acknowledgment (Notary may be required depending on local practice)

State of New Mexico, County of [County]

On this [Day] day of [Month], [Year], before me, the undersigned notary public, personally appeared [Landlord Name], proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her authorized capacity, and that by his/her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

____________________________

Notary Public

My commission expires: [Expiration Date]