Wyoming retail lease agreement template

Wyoming Retail Lease Agreement

This Wyoming Retail Lease Agreement (the "Agreement") is made and effective as of [Date], by and between [Landlord's Full Legal Name], whose address is [Landlord's Address] ("Landlord"), and [Tenant's Full Legal Name, including registered business name if applicable], whose address is [Tenant's Address] ("Tenant").

1. Leased Premises

The Landlord leases to the Tenant, and the Tenant leases from the Landlord, the premises located at [Physical Address of Retail Property], legally described as [Legal Description of Property], being suite or unit identified as [Suite/Unit Number] (the "Leased Premises").

• Option A: The Leased Premises contains approximately [Square Footage] square feet.
• Option B: Attached hereto as Exhibit A is a floor plan depicting the Leased Premises.

The Leased Premises includes:

• Clear visibility from [Specify location, e.g., Main Street] with frontage of approximately [Frontage Length] feet.
• [Number] dedicated parking spaces located [Location of Parking Spaces].
• Access to common areas, including customer access routes and staff access routes.
• Designated signage locations as follows: [Describe Signage Locations].
• Access to [Specify common areas: e.g., restrooms, hallways, etc.].
• Access to [Storage areas, delivery areas, and loading docks, including specifications if applicable].

Excluded/Exclusive Areas:

• Option A: Landlord reserves the right to use the following areas for Landlord's exclusive use: [List Reserved Areas].
• Option B: Tenant shall have exclusive use of the following areas: [List Exclusive Use Areas]. Landlord shall not permit other tenants to use such areas.

2. Permitted Use

The Leased Premises shall be used solely for the purpose of [Permitted Commercial Retail Use - e.g., retail sale of clothing, restaurant, etc.], specifically the operation of a [Specific Type of Business] business.

• Option A: Tenant shall not sell [Specific Prohibited Items].
• Option B: Tenant shall not operate a business that directly competes with [Specify Competing Businesses, if any].

Tenant shall comply with all applicable Wyoming zoning ordinances and retail business licensing requirements, including local permitting and operational requirements for [Specify Relevant Requirements: e.g., food service, alcohol, tobacco, etc.].

3. Lease Term

The term of this Lease shall commence on [Start Date] and shall end on [End Date].

• Option A: Tenant shall have the option to renew this Lease for [Number] additional term(s) of [Duration of Renewal Term]. To exercise this option, Tenant must provide written notice to Landlord at least [Number] days prior to the expiration of the then-current term.
• Option B: In the event of a renewal, the base rent shall be adjusted as follows: [Rent Adjustment Mechanism - e.g., CPI increase, agreed-upon amount].
• Option C: Tenant is required to remain open for business during the following hours: [Business Hours].

4. Rent

The base rent shall be [Dollar Amount] per month, payable in advance on the [Day] day of each month, for an annualized rent of [Dollar Amount].

• Option A: The base rent shall be increased annually by [Percentage] percent.
• Option B: The base rent shall be adjusted annually according to the Consumer Price Index (CPI).

Rent shall be payable to Landlord at [Payment Address] by [Acceptable Payment Method - e.g., check, electronic transfer].

A grace period of [Number] days shall be allowed for the payment of rent. A late fee of [Dollar Amount] shall be charged for any rent payment received after the grace period. (Late fees are subject to Wyoming usury statutes).

Security Deposit: 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 A: Landlord shall not pay interest on the security deposit.
• Option B: Landlord shall return the security deposit, less any permitted deductions, within [Number] days after the termination of this Lease.

Percentage Rent (if applicable): In addition to the base rent, Tenant shall pay to Landlord percentage rent equal to [Percentage] percent of Tenant's gross retail sales exceeding [Dollar Amount] per [Time Period - e.g., month, year].

• Tenant shall provide Landlord with regular sales reports on a [Frequency - e.g., monthly, quarterly] basis. Landlord shall have the right to audit Tenant's sales records.

5. Common Area Maintenance (CAM) Charges

Tenant shall pay its pro rata share of CAM charges, which shall be determined by dividing the square footage of the Leased Premises by the total square footage of the leasable area of the property.

• Option A: CAM charges shall include the following: [Specific Inclusions - e.g., landscaping, snow removal, parking lot maintenance].
• Option B: CAM charges shall not include the following: [Specific Exclusions - e.g., capital improvements].

Landlord shall provide Tenant with a budget of estimated CAM charges. Landlord shall reconcile CAM charges annually and provide Tenant with a statement of actual CAM charges. Tenant shall have the right to audit Landlord's CAM charge records.

• Option A: The maximum allowable annual increase in CAM charges shall be [Percentage] percent.

6. Property Taxes and Utilities

Tenant shall be responsible for the payment of [Proportion of Property Taxes - e.g., pro rata share, entire amount] of Wyoming ad valorem property taxes assessed against the property.

• Option A: Landlord shall have the right to appeal property tax assessments.
• Option B: Tenant shall be responsible for appealing property tax assessments.

Tenant shall be responsible for the payment of all utilities serving the Leased Premises, including water, sewer, electricity, gas, trash removal, and HVAC.

• Option A: Utilities shall be separately metered.
• Option B: Tenant shall pay a flat monthly fee for utilities in the amount of [Dollar Amount].

7. Maintenance and Repairs

Landlord shall be responsible for maintaining and repairing the exterior, structural, and roof of the Leased Premises, as well as the plumbing, electrical, and HVAC systems serving the Leased Premises.

Tenant shall be responsible for maintaining and repairing the interior of the Leased Premises.

Tenant shall notify Landlord of any needed repairs. Landlord shall respond to Tenant's notice within [Number] days. Landlord shall have the right to cure any neglected repairs that are Tenant's responsibility.

8. Tenant Improvements (Build-Out)

Tenant shall obtain Landlord's approval of Tenant's plans for any initial fixturing or construction. Tenant shall comply with all applicable building codes, ADA, and Wyoming accessibility regulations.

Tenant shall provide Landlord with insurance and indemnification during construction. Tenant shall restore the Leased Premises to its original condition upon lease expiration.

9. Alterations and Additions

Tenant shall obtain Landlord's prior written approval before making any alterations or additions to the Leased Premises.

Tenant shall obtain all required Wyoming and local permits or approvals for any alterations or additions.

10. Assignment and Subletting

Tenant shall not assign this Lease or sublet the Leased Premises without Landlord's prior written approval, which shall not be unreasonably withheld. Landlord may consider the financial condition and business operations of any proposed assignee.

11. Use Restrictions and Exclusive Use Clauses

Landlord grants to Tenant the exclusive right to operate a [Specific Type of Business] business within the [Specified Area - e.g., shopping center].

Tenant shall not use the Leased Premises for any nuisance, hazardous materials, odorous or noisy activities, or other non-retail uses.

12. Insurance

Tenant shall maintain the following insurance coverages: property, general liability, business interruption, and workers' compensation (if applicable). Tenant shall provide Landlord with certificates of insurance.

• Option A: Landlord and Tenant agree to waive rights of subrogation against each other to the extent permitted by Wyoming law.
• Option B: Tenant shall name Landlord as an additional insured on its general liability policy.

13. Indemnification

Landlord and Tenant shall indemnify each other against any claims arising out of their respective negligence.

• Option A: Neither party shall be liable for consequential damages.

14. Casualty and Condemnation

If the Leased Premises are damaged by casualty, the rent shall abate until the Leased Premises are restored.

If the Leased Premises are condemned, this Lease shall terminate.

15. Compliance with Laws

Tenant shall comply with all applicable Wyoming statutes, local building codes, fire and safety ordinances, ADA and Wyoming accessibility standards, and retail operational regulations.

16. Operating Hours

Tenant shall maintain the following minimum business hours: [Specific Business Hours].

17. Security

[Specify responsibilities for security systems, cameras, lighting, and panic devices.]

18. Signage

[Specify permitted types, dimensions, illumination, and content restrictions for signage, including Landlord approval process.]

19. Parking and Common Areas

[Specify tenant and customer parking entitlements, maintenance, and snow/ice removal protocols, including procedures for addressing accidents or damage.]

20. Entry Rights

Landlord shall have the right to enter the Leased Premises for repairs, inspections, and showing the premises, upon reasonable notice to Tenant, except in cases of emergency.

21. Environmental Matters

[Specify responsibilities for hazardous materials management and disclosure, compliance with Wyoming Department of Environmental Quality, and allocation of cleanup costs.]

22. Default and Remedies

Events of Default:

• Failure to pay rent when due.
• Failure to comply with any other term of this Lease.
• Abandonment of the Leased Premises.

Remedies:

• Landlord may terminate this Lease.
• Landlord may re-enter the Leased Premises and relet the premises.
• Landlord may recover damages from Tenant.

23. Surrender and Restoration

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

24. Estoppel Certificates

Landlord and Tenant shall each provide the other with an estoppel certificate upon request.

25. Leasehold Improvements and Fixtures

[Specify the distinction between trade fixtures and permanent improvements and the rights and obligations regarding removal or disposition at lease end.]

26. Dispute Resolution

Any dispute arising out of this Lease shall be resolved by [Specify Dispute Resolution Method - e.g., mediation, arbitration] in [Specify Venue - e.g., Laramie County, Wyoming]. This Agreement shall be governed by the laws of the State of Wyoming.

27. Notices

All notices shall be in writing and shall be deemed to have been duly given when delivered personally, sent by certified mail, or sent by email with confirmation of receipt to the addresses listed above.

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

This Lease shall be subordinate to any mortgage or deed of trust now or hereafter placed upon the property. Landlord shall use commercially reasonable efforts to obtain a non-disturbance agreement from any mortgagee.

29. Force Majeure

Neither party shall be liable for any delay or failure to perform its obligations under this Lease due to force majeure events, including natural disasters, government-ordered closures, etc.

30. Interpretative Provisions

This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements. This Agreement may be amended only by a writing signed by both parties.

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

Landlord:

[Landlord's Full Legal Name]

By: [Landlord's Signature]

Name: [Landlord's Printed Name]

Title: [Landlord's Title]

Tenant:

[Tenant's Full Legal Name, including registered business name if applicable]

By: [Tenant's Signature]

Name: [Tenant's Printed Name]

Title: [Tenant's Title]