Vermont warehouse lease agreement template

Vermont Warehouse Lease Agreement

This Vermont Warehouse Lease Agreement is made and effective as of [Effective Date], by and between [Landlord Name], residing at [Landlord Address], hereinafter referred to as "Landlord," and [Tenant Name], residing at [Tenant Address], hereinafter referred to as "Tenant."

Property Description:

Option A: The Landlord hereby leases to the Tenant, and the Tenant hereby leases from the Landlord, the warehouse space located at [Street Address], [Warehouse Building Number], Unit/Suite [Unit/Suite Designation], in [City/Town], Vermont, hereinafter referred to as the "Premises," consisting of approximately [Square Footage] square feet.

Option B: The Premises includes [Number] loading dock(s) located at [Loading Dock Locations], a ceiling height of [Ceiling Height], a clear span of [Clear Span], column spacing of [Column Spacing], access points at [Access Point Description], designated parking for [Number] vehicles, and [Square Footage] square feet of outdoor/yard space, if any, described as [Description of Yard Space].

Permitted Use:

Option A: The Premises shall be used solely for warehouse, storage, and distribution purposes.

Option B: The following business activities are specifically allowed: [List of Allowed Activities]. The following business activities are specifically prohibited: [List of Prohibited Activities, e.g., overnight truck parking, manufacturing, hazardous material storage, processing, or retail/showroom activity].

The Tenant shall comply with all applicable Vermont and municipal zoning, fire code, and building codes for warehouse operations.

Lease Term:

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

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

Option C: Early Termination: Tenant may terminate this lease early subject to the following conditions: [Conditions for early termination, e.g., payment of a termination fee equal to X months' rent, required notice period].

Rent:

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

Option B: Rent calculation: The rent is calculated based on a rate of [Dollar Amount] per square foot of usable/rentable area.

Option C: Rent Escalation: The base rent shall increase by [Percentage] percent annually, commencing on [Date].

Option D: Vermont State Taxes: Tenant shall be responsible for paying its pro rata share of applicable Vermont state taxes, including sales & use tax, property tax apportionment, and CAT (if applicable).

Tenant shall also pay the Landlord for its pro-rata share of any increase in property taxes levied by the Town of [Town Name], VT, assessed against the property of which the Premises are a part, due to any improvements or increases in assessments attributable to Tenant.

Option E: Security Deposit: Tenant shall deposit with Landlord a security deposit of [Dollar Amount], to be held in accordance with Vermont law. The deposit will be held at [Bank Name], located in [City], Vermont. The security deposit will not accrue interest.

Option F: Late Fees and Returned Check Charges: A late fee of [Dollar Amount] will be charged for rent payments received more than [Number] days after the due date. A returned check charge of [Dollar Amount] will be assessed for any check returned due to insufficient funds.

Option G: Acceptable Payment Methods: Acceptable payment methods are [List of Acceptable Payment Methods, e.g., check, electronic transfer].

Operating Expenses:

Option A: The Tenant shall be responsible for paying [Percentage] percent of all operating expenses for the property, including property tax increases, insurance, snow removal, landscaping, exterior/interior repairs, pest control, utilities such as electricity, heating fuel, water/sewer, and any Vermont stormwater or energy efficiency assessments.

Option B: Reconciliation: Operating expenses will be reconciled annually, with a true-up payment due from either Landlord or Tenant within [Number] days of the reconciliation date.

The annual reconciliation date is [Date].

Repair and Maintenance:

Option A: Landlord Responsibilities: The Landlord shall be responsible for maintaining the roof, structure, and exterior of the building, including HVAC systems and dock doors. The Landlord shall also maintain the fire suppression system in compliance with Vermont fire safety regulations.

Option B: Tenant Responsibilities: The Tenant shall be responsible for maintaining the interior of the Premises in a clean and hazard-free condition. Tenant is responsible for regular cleaning.

Option C: Inspections: The Landlord shall have the right to inspect the Premises upon [Number] hours' notice, except in cases of emergency.

Option D: Fire Suppression System Maintenance: Landlord and Tenant shall work together to meet all obligations regarding sprinkler/fire suppression system testing per Vermont Department of Public Safety.

Tenant Improvements:

Option A: Any tenant improvements, build-outs, or racking installation must be approved in writing by the Landlord prior to commencement of work.

Option B: All improvements must be performed in accordance with applicable permits and building codes.

Option C: The Tenant shall be responsible for insuring all improvements.

Option D: At the end of the Lease term, the Tenant shall [Choose One: restore the Premises to its original condition or leave the improvements in place].

Assignment and Sublease:

Option A: The Tenant shall not assign this Lease or sublet the Premises without the prior written consent of the Landlord, which consent shall not be unreasonably withheld, in accordance with Vermont's commercial leasing standards.

Environmental Compliance:

Option A: The Tenant shall comply with all applicable environmental laws, including those pertaining to hazardous materials handling, stormwater runoff and containment (per Vermont Department of Environmental Conservation rules), recycling, and waste disposal.

Option B: The Tenant shall indemnify the Landlord for any environmental contamination caused by the Tenant's activities.

Insurance:

Option A: The Tenant shall maintain commercial general liability insurance with a minimum coverage of [Dollar Amount] per occurrence and property insurance covering the Tenant's personal property.

Option B: The Landlord shall be named as an additional insured on the Tenant's commercial general liability policy.

Option C: Landlord will carry insurance as is necessary for the building or structure in which the Premises are located, subject to deductions and exclusions set out in said insurance policy.

Security:

Option A: The Landlord shall be responsible for maintaining the security of the building and property.

Option B: Access hours shall be [Start Time] to [End Time], [Days of the Week]. After-hours access protocols are as follows: [Detailed Description of After-Hours Access Protocols].

Option C: Delivery and loading dock procedures are as follows: [Detailed Description of Delivery and Loading Dock Procedures].

Utilities:

Option A: The Premises are [Choose one: Metered separately or sub-metered or allocated as a shared service].

Option B: Tenant shall provide usage statements to Landlord on [Frequency, e.g., monthly] basis.

Fire Safety:

Option A: The Tenant shall install and maintain fire extinguishers in accordance with applicable fire codes.

Option B: The Tenant shall ensure that all fire exits are clearly marked and free from obstruction and that emergency lighting is functioning properly.

Option C: The Tenant shall comply with all warehouse storage vertical clearance codes.

Casualty, Condemnation, and Force Majeure:

Option A: In the event of casualty (fire, flood, etc.), condemnation, or force majeure (unforeseeable circumstances), the Landlord shall have the option to restore the Premises.

Option B: If the Premises are rendered untenantable, the Tenant shall be entitled to an abatement of rent until the Premises are restored.

Option C: If the Landlord does not restore the Premises within [Number] days, the Tenant shall have the right to terminate this Lease.

Entry and Inspection:

Option A: The Landlord shall have the right to enter the Premises for inspection, repairs, or other legitimate business purposes upon [Number] hours' notice, except in cases of emergency.

Move-In and Move-Out:

Option A: Upon termination of the Lease, the Tenant shall remove all personal property and fixtures from the Premises and restore the Premises to its original condition, reasonable wear and tear excepted.

Option B: The Landlord shall return the security deposit to the Tenant within [Number] days of the termination of the Lease, less any deductions for damages or unpaid rent, in accordance with Vermont landlord-tenant law.

Default and Remedies:

Option A: In the event of default by the Tenant (nonpayment of rent, illegal use, property damage, abandonment, or unlawful storage), the Landlord shall have the right to terminate the Lease and evict the Tenant in accordance with Vermont law.

Option B: Cure Period: Tenant shall have [Number] days to cure any default before the Landlord may exercise its remedies.

Dispute Resolution:

Option A: Any disputes arising under this Lease shall be resolved first through negotiation, then mediation, and finally, if necessary, through litigation in Vermont courts.

Option B: Exclusive Venue: The exclusive venue for any litigation shall be the courts located in [County] County, Vermont.

Compliance with Laws:

Option A: The Tenant shall comply with all applicable state and local laws, including Vermont's Commercial Building Energy Standards and ADA accessibility requirements.

Landlord Representations:

Option A: The Landlord represents that the Premises are suitable, habitable, and code-compliant for warehouse use as of the commencement date of the Lease.

Signage:

Option A: The Tenant shall have the right to install signage on the exterior of the building, subject to the Landlord's approval and applicable city/town ordinances.

Option B: Tenant's allowable signage will consist of [signage details].

Disclosures:

Option A: The Premises are [Choose one: NOT subject to or subject to] Vermont Act 250 land use permit conditions. Details are as follows: [Act 250 Permit Details, if applicable].

Option B: The Premises are [Choose one: NOT located within or located within] a flood zone. Details are as follows: [Flood Zone Details, if applicable].

Snow and Ice Removal:

Option A: Landlord is responsible for snow and ice removal, subject to reasonable access for Tenant.

Utility Service Interruptions:

Option A: Landlord shall not be liable to tenant in the event of a utility service interruption.

Option B: Tenant will maintain its own business continuity plan.

Indemnification:

Option A: The Tenant shall indemnify and hold harmless the Landlord from any and all claims, losses, damages, or liabilities arising out of the Tenant's use of the Premises.

Counterparts:

Option A: 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.

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

[Landlord Name]

By: [Landlord Signature]

Title: [Landlord Title]

[Tenant Name]

By: [Tenant Signature]

Title: [Tenant Title]