South Dakota office lease agreement template

South Dakota Office Lease Agreement

This South Dakota Office Lease Agreement (the "Agreement") is made and entered into as of [Date], by and between:

[Landlord Legal Name], with a principal place of business at [Landlord Address], hereinafter referred to as "Landlord," and

[Tenant Legal Name], with a principal place of business at [Tenant Address], hereinafter referred to as "Tenant."

Landlord's Email: [Landlord Email]

Landlord's Phone Number: [Landlord Phone Number]

Tenant's Email: [Tenant Email]

Tenant's Phone Number: [Tenant Phone Number]

Premises

Option A: Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the office space located at [Street Address], [Suite Number], [City], South Dakota, [Zip Code], hereinafter referred to as the "Premises." The Premises consists of approximately [Square Footage] rentable square feet.

Option B: See Exhibit A, attached hereto and incorporated herein by reference, for a detailed floor plan and depiction of the Premises. The Premises is located on the [Floor Number] floor of the building.

Option C: The Premises includes the exclusive use of [List Exclusive Areas]. The Premises includes the shared use of the common areas, including but not limited to [List Shared Areas].

Permitted Use

Option A: The Premises shall be used solely for general office purposes.

Option B: The Premises shall be used solely for [Specific Office Use] purposes.

Tenant shall comply with all applicable South Dakota zoning ordinances, local codes, and building rules and policies. The Premises shall not be used for residential, retail, industrial, or any other unauthorized business activities.

Lease Term

Option A: The initial term of this Lease shall commence on [Start Date] and expire on [End Date], unless sooner terminated as provided herein.

Option B: Renewal Option: Tenant shall have the option to renew this Lease for [Number] additional term(s) of [Number] years each, provided Tenant gives Landlord written notice of its intent to renew at least [Number] months prior to the expiration of the then-current term.

Option C: Holdover: If Tenant remains in possession of the Premises after the expiration of the Lease Term without a written agreement, such holdover shall be deemed a month-to-month tenancy terminable by either party upon [Number] days' written notice.

Option D: Early Termination: Tenant may terminate this lease early by providing [Number] months' written notice to Landlord and paying a termination fee equal to [Number] months' rent.

Rent

Option A: Tenant shall pay Landlord a monthly base rent of [Dollar Amount], payable in advance on the first day of each month during the Lease Term, at [Payment Address] or such other place as Landlord may designate in writing.

Option B: Escalation: The monthly base rent shall increase by [Percentage]% annually, beginning on [Date].

Option C: CPI Adjustment: The monthly base rent shall be adjusted annually based on the Consumer Price Index (CPI) for [Specific CPI Area], as published by the U.S. Bureau of Labor Statistics.

Option D: Late Payment: A late payment fee of [Dollar Amount] shall be charged for any rent payment received more than [Number] days after the due date. A returned check fee of [Dollar Amount] will be charged for any check returned for insufficient funds.

Option E: All applicable South Dakota state and local sales, use, or rental taxes shall be the responsibility of [Landlord/Tenant].

Security Deposit

Option A: Tenant shall deposit with Landlord a security deposit of [Dollar Amount], which shall be held by Landlord as security for the performance of Tenant's obligations under this Lease.

Option B: The security deposit shall not bear interest.

Option C: Landlord may deduct from the security deposit any amounts necessary to cover damages to the Premises caused by Tenant, unpaid rent, or other breaches of this Lease. Landlord shall provide Tenant with an itemized statement of any such deductions within [Number] days of termination of the lease.

Option D: The security deposit, less any deductions, shall be returned to Tenant within [Number] days after the termination of this Lease and Tenant's surrender of the Premises.

Operating Expenses

Option A: Tenant shall pay, as additional rent, its pro rata share of the operating expenses of the building, which shall include, but not be limited to, building maintenance, utilities, janitorial services, snow removal, landscaping, property taxes, insurance, and common area maintenance (CAM). Tenant's pro rata share shall be [Percentage]% of the total operating expenses.

Option B: Landlord shall be responsible for the following operating expenses: [List of Landlord's Responsibilities].

Option C: Tenant shall be responsible for the following operating expenses: [List of Tenant's Responsibilities] (e.g., electricity directly metered to the Premises, interior janitorial services).

Option D: Utilities: Tenant is responsible for paying directly for the following utilities: [List Utilities]. Landlord is responsible for paying for the following utilities: [List Utilities].

Alterations and Improvements

Option A: Tenant shall not make any alterations, additions, or improvements to the Premises without the prior written consent of Landlord, which consent shall not be unreasonably withheld.

Option B: Any alterations or improvements made by Tenant shall become the property of Landlord upon the termination of this Lease, unless otherwise agreed in writing.

Option C: Landlord shall have the right to inspect any construction or alterations made by Tenant. Tenant shall provide Landlord with lien waivers from all contractors.

Option D: Upon termination of this Lease, Tenant shall [Restore/Not Restore] the Premises to its original condition, reasonable wear and tear excepted.

Repair and Maintenance

Option A: Landlord shall be responsible for maintaining the structural elements of the building, including the roof, foundation, and exterior walls, as well as building systems such as elevators and HVAC.

Option B: Tenant shall be responsible for maintaining the interior of the Premises in good repair and condition, including any equipment or unique office installations.

Option C: Tenant shall promptly notify Landlord of any damages or defects to the Premises or the building. Landlord shall make reasonable efforts to repair such damages or defects within a reasonable time.

Access

Option A: Landlord shall have the right to enter the Premises at reasonable times and upon reasonable advance notice (except in cases of emergency) for the purpose of inspection, maintenance, repair, or to show the Premises to prospective tenants or purchasers. Reasonable notice shall be [Number] hours.

Option B: Landlord may enter the premises without notice in case of emergency.

Insurance

Option A: Tenant shall maintain commercial general liability insurance with minimum coverage amounts of [Dollar Amount] per occurrence and [Dollar Amount] in the aggregate. Tenant shall also maintain personal property insurance covering Tenant's personal property located on the Premises.

Option B: Landlord shall maintain casualty and property insurance covering the building.

Option C: Tenant shall provide Landlord with a certificate of insurance evidencing the required coverage.

Option D: Waiver of Subrogation: To the extent permitted by law, Landlord and Tenant hereby waive all rights of recovery against each other for any loss or damage covered by insurance.

Disclosures

Option A: Landlord discloses that [Disclosure Information, e.g., the presence of asbestos, prior environmental contamination, etc.].

Option B: Landlord states that there are no known defects to the property.

Subleasing and Assignment

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

Option B: Landlord's consent to a sublease or assignment shall not relieve Tenant of its obligations under this Lease.

Option C: Landlord shall have the right to approve any proposed subtenant or assignee.

Americans with Disabilities Act (ADA)

Option A: Tenant is responsible for ensuring the premises complies with the Americans with Disabilities Act for their specific use of the property.

Option B: Landlord is responsible for ensuring common areas of the property comply with the Americans with Disabilities Act.

Option C: Responsibility for modifications necessary to comply with ADA requirements is [Landlord/Tenant]'s.

Move-In and Move-Out

Option A: Landlord and Tenant shall conduct a condition inspection of the Premises prior to Tenant's occupancy. A copy of the inspection checklist shall be attached to this Lease as Exhibit B.

Option B: Upon termination of this Lease, Tenant shall surrender the Premises in the same condition as received, reasonable wear and tear excepted. Tenant shall remove all of its personal property from the Premises.

Option C: Tenant shall return all keys and access devices to Landlord upon vacating the Premises. Landlord will inspect the premises for damages within [Number] days of Tenant vacating the property.

Furnishings and Installations

Option A: Any office furnishings, installations, or fixtures installed by Tenant shall become the property of Landlord upon termination of this Lease, unless otherwise agreed in writing.

Option B: Tenant shall have the right to remove its cubicles, data cabling, and telecommunication equipment upon termination of this Lease.

Default

Option A: If Tenant fails to pay rent when due or otherwise breaches this Lease, Landlord shall have the right to pursue all remedies available under South Dakota law, including, but not limited to, terminating this Lease and re-entering the Premises.

Option B: Tenant shall have [Number] days to cure any monetary default.

Option C: Tenant shall have [Number] days to cure any non-monetary default.

Business Interruption

Option A: In the event the Premises are damaged by fire or other casualty, Landlord shall make reasonable efforts to repair the Premises. Rent shall be abated during the period of repair in proportion to the area of the Premises rendered unusable.

Option B: If the Premises are rendered wholly unusable, Tenant shall have the right to terminate this Lease.

Option C: Neither party shall be liable for any failure to perform its obligations under this Lease due to force majeure events, including but not limited to acts of God, war, strikes, and natural disasters specific to South Dakota, such as severe winter storms or flooding.

Governing Law and Venue

This Lease shall be governed by and construed in accordance with the laws of the State of South Dakota. The venue for any legal action arising out of this Lease shall be in the courts of [County Name] County, South Dakota.

Dispute Resolution

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

Option B: If negotiation fails, the parties shall submit the dispute to mediation in [City], South Dakota.

Option C: If mediation fails, the parties shall submit the dispute to binding arbitration in accordance with the rules of the American Arbitration Association.

Compliance with Laws

Tenant shall comply with all applicable South Dakota and local business licensing requirements, signage regulations, building occupancy certificates, and regulatory permits relevant to office uses.

Property Taxes

Option A: Landlord shall be responsible for the payment of all property taxes and special assessments levied against the building.

Option B: Tenant shall reimburse Landlord for its pro rata share of any increase in property taxes during the Lease Term.

Energy Efficiency

Tenant shall use reasonable efforts to conserve energy and water.

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 service to the addresses set forth above. Electronic notice with receipt confirmation is also permitted.

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.

Amendment

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

Severability

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

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.

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

____________________________

[Landlord Legal Name]

By: ____________________________

[Landlord Printed Name]

Title: [Landlord Title]

____________________________

[Tenant Legal Name]

By: ____________________________

[Tenant Printed Name]

Title: [Tenant Title]