Vermont retail lease agreement template

Vermont Retail Lease Agreement

This Vermont Retail Lease Agreement ("Lease") is made and entered into as of [Date], by and between:

• [Landlord's Full Legal Name], a [Landlord's Business Entity Type], with a principal place of business at [Landlord's Address] ("Landlord"), and
• [Tenant's Full Legal Name], a [Tenant's Business Entity Type], with a principal place of business at [Tenant's Address] ("Tenant").

1. Premises

• Option A: Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the premises located at [Property Address], consisting of suite or unit number [Suite/Unit Number] with a retail floor area of approximately [Square Footage] square feet, with frontage measuring approximately [Frontage Measurement] feet.
• Option B: See Exhibit A, attached hereto and incorporated herein, for a complete legal description of the Premises.

2. Use of Premises

• Option A: The Premises shall be used and occupied solely for the purpose of operating a retail business specializing in [Type of Retail Business], selling [List of Approved Products/Services].
• Option B: Tenant agrees to comply with all applicable Vermont zoning ordinances, including but not limited to [Relevant Vermont Zoning Ordinance Number], ensuring the Premises are used only for permitted commercial uses.

Tenant is solely responsible for obtaining all necessary business licenses and retail operating permits mandated by Vermont and local municipalities.

3. Lease Term

• Option A: The term of this Lease shall commence on [Start Date] and shall expire on [End Date], unless sooner terminated as provided herein.
• Option B: Tenant shall have the option to renew this Lease for [Number] additional term(s) of [Length of Renewal Term] 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.

4. Rent

• Option A: Tenant shall pay Landlord a base rent of [Dollar Amount] per month, payable in advance on the [Day] day of each month, commencing on [Start Date].
• Option B: In addition to the base rent, Tenant shall pay percentage rent equal to [Percentage]% of Tenant's gross sales exceeding [Dollar Amount] in any calendar year.
• Option C: Rent shall escalate by [Percentage]% annually, beginning on [Date].

Tenant shall pay a security deposit of [Dollar Amount], which shall be held by Landlord as security for Tenant's performance of its obligations under this Lease. The security deposit will be returned to Tenant within [Number] days following the end of the lease term, less any deductions for damages or unpaid rent.

5. Common Area Maintenance (CAM)

• Option A: Tenant shall pay its pro rata share of all CAM charges, which shall include but not be limited to costs for maintaining common areas, landscaping, parking areas, and exterior lighting. Tenant's pro rata share shall be [Percentage]%.
• Option B: Landlord shall provide Tenant with an annual accounting of CAM charges.

6. Utilities

• Option A: Tenant shall be responsible for paying for all utilities serving the Premises, including but not limited to electricity, water, and waste removal.
• Option B: Landlord shall provide and maintain [List of specific utilities provided]. Tenant shall reimburse landlord for these utilities based on [Specific agreement on utility costs].

7. Repairs and Maintenance

• Option A: Landlord shall be responsible for maintaining the structural components of the Premises, including the roof, foundation, and exterior walls.
• Option B: Tenant shall be responsible for maintaining the interior of the Premises in good repair and condition, including all non-structural elements, fixtures, and equipment.

Tenant shall promptly report any maintenance issues to Landlord.

8. Alterations and Improvements

• Option A: Tenant shall not make any alterations or improvements to the Premises without Landlord's prior written consent, which shall not be unreasonably withheld.
• Option B: All alterations and improvements made by Tenant shall become the property of Landlord upon the expiration or termination of this Lease, unless otherwise agreed in writing.

9. Insurance

• Option A: Tenant shall maintain general commercial liability insurance with a minimum coverage of [Dollar Amount] per occurrence and [Dollar Amount] in the aggregate.
• Option B: Tenant shall also maintain worker's compensation insurance as required by Vermont law.

Tenant shall provide Landlord with certificates of insurance evidencing such coverage.

10. Signage

• Option A: Tenant shall have the right to install signage on the Premises in accordance with Landlord's signage criteria and all applicable Vermont signage ordinances.
• Option B: All signage must be approved by Landlord in writing prior to installation.

11. Default

• Option A: If Tenant fails to pay rent when due or otherwise breaches this Lease, Landlord shall have the right to terminate this Lease and pursue all available remedies under Vermont law.
• Option B: Landlord shall provide Tenant with written notice of any default and an opportunity to cure the default within [Number] days.

12. Right of Entry

• Option A: Landlord shall have the right to enter the Premises for reasonable purposes, including but not limited to inspection and repair, upon providing Tenant with [Number] hours' notice, except in cases of emergency.
• Option B: Landlord's entry shall be conducted so as to minimize disruption to Tenant's business operations.

13. 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, referencing Vermont statutes on assignment and sublease rights.
• Option B: Any assignment or subletting without Landlord's consent shall be void.

14. Holdover

If Tenant remains in possession of the Premises after the expiration or termination of this Lease, such holdover shall be deemed a month-to-month tenancy, subject to all the terms and conditions of this Lease, except that the rent shall be [Percentage]% of the rent in effect immediately prior to the expiration or termination.

15. Governing Law

This Lease shall be governed by and construed in accordance with the laws of the State of Vermont. Venue for any legal action arising out of this Lease shall be in [Specific Vermont Court].

16. 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.

17. 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 or sent by certified mail, return receipt requested, to the addresses set forth above.

18. Special Rules and Regulations

Attached hereto as Exhibit B are special rules and regulations pertaining to the property. Tenant agrees to comply with all rules and regulations.

19. Landlord and Tenant Disclosure Obligations

Landlord warrants compliance with Vermont’s landlord and tenant disclosure obligations, such as asbestos, lead paint (if building predates 1978), and operational hazards.

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

[Landlord's Full Legal Name]

By: [Landlord's Signature]

Name: [Landlord's Printed Name]

Title: [Landlord's Title]

[Tenant's Full Legal Name]

By: [Tenant's Signature]

Name: [Tenant's Printed Name]

Title: [Tenant's Title]