Florida Commercial Lease Agreement

written notice to Landlord no less than 60 days prior to the expiration of the Lease or renewal period.

Rent for each option period shall: (check one)

☐ - Not increase.

☐ - Increase as calculated by multiplying the Base Rent by the annual change in the Consumer Price Index (CPI) published by the Bureau of Labor Statistics by   the most recent publication to the option period start date.

☐ - Increase by ____%

☐ - Increase by ___________________ dollars ($_______________)

 

VII. EXPENSES. [Check and Initial whether this Lease is Gross, Modified Gross, or Triple Net (NNN)]

☐ - GROSS. Tenant’s Initials            Landlord’s Initials

It is the intention of the Parties that this Lease be considered a “Gross Lease” and as     such, the Base Rent is the entirety of the monthly rent. Therefore, the Tenant is not        obligated to pay any additional expenses which includes utilities, real estate taxes,          insurance (other than on the Tenant’s personal property), charges or expenses of any    nature whatsoever in connection with the ownership and operation of the Premises. The Landlord shall be obligated to maintain the general exterior structure of the Premises, in addition, shall maintain all major systems such as the heating, plumbing, and electrical.  The parking area shall be maintained by the Landlord including the removal of any snow or environmental hazards as well as the grounds and lands surrounding the Premises.   The Landlord shall maintain at their expense casualty insurance for the Premises            against loss by fire which may or may not include any extended coverage. The Tenant   will provide and maintain personal liability and property damage insurance as a tenant,   at least to the limits of One Million Dollars ($1,000,000.00), that will designate the           Landlord as an "also named insured", and shall provide the Landlord with a copy of such insurance certification or policy prior to the effective date of this Lease.

☐ - MODIFIED GROSS. Tenant’s Initials            Landlord’s Initials

It is the intention of the Parties that this Lease shall be considered a “Modified Gross Lease” .

In addition to the Base Rent, the Tenant shall be obligated to pay the following monthly expenses: _____________________________________________________________

______________________________________________________________________

______________________________________________________________________

Landlord shall pay the following monthly expenses: _____________________________

______________________________________________________________________

______________________________________________________________________

 

☐ - TRIPLE NET (NNN). Tenant’s Initials _____ Landlord’s Initials _____

It is the intention of the Parties that this Lease shall be considered a “Triple Net Lease” .

I.    Operating Expenses. The Landlord shall have no obligation to provide any

services, perform any acts, or pay expenses, charges, obligations or costs of      any kind whatsoever with respect to the Premises. The Tenant hereby agrees     to pay one-hundred percent (100%) of any and all Operating Expenses as           hereafter defined for the entire term of the Lease and any extensions thereof in   accordance with specific provisions hereinafter set forth. The term “Operating     Expenses” shall include all costs to the Landlord of operating and maintaining     the Premises, and shall include, without limitation, real estate and personal         property taxes and assessments, management fee(s), heating, air conditioning,  HVAC, electricity, water, waste disposal, sewage, operating materials and           supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of             contesting the validity or applicability of any governmental acts which may           affect operating expenses, and all other direct operating costs of operating and   maintaining the Premises and related parking areas, unless expressly excluded  from operating expenses.

II.    Taxes. Tenant shall pay, during the term of this Lease, the real estate taxes   including any special taxes or assessments (collectively, the "taxes")               attributable to the Premises and accruing during such term. Tenant, at            Landlord’s option, shall pay to Landlord said taxes on a monthly basis, based on one-twelfth ( 1/12) of the estimated annual amount for taxes. Taxes for any fractional calendar year during the term hereof shall be prorated. In the event the Tenant does not make any tax payment required hereunder, Tenant shall be in default of this Lease.

III.    Insurance. Tenant shall maintain, at all times during the Term of this Lease,      comprehensive general liability insurance in an insurance company licensed to do business in the State in which the Premises is located and that is                  satisfactory to Landlord, properly protecting and indemnifying Landlord with      single limit coverage of not less than ______________________ dollars            ($__________________) for injury to or ______________________ dollars      ($__________________) death of persons and ______________________      dollars ($__________________) for property damage. During the Term of this  Lease, Tenant shall furnish the Landlord with certificate(s) of insurance, in a     form acceptable to Landlord, covering such insurance so maintained by Tenant and naming Landlord and Landlord’s mortgagees, if any, as additional insured.

VIII. SECURITY DEPOSIT. In addition to the above, a deposit in the amount of              ______________________ dollars ($__________________), shall be due and payable in advance or at the signing of this Lease, hereinafter referred to as the “Security           Deposit” , and shall be held in escrow by the Landlord in a separate, interest-bearing     savings account as security for the faithful performance of the terms and conditions of   the Lease. The Security Deposit may not be used to pay the last month’s rent unless    written permission is granted by the Landlord.

IX. LEASEHOLD IMPROVEMENTS. The Tenant agrees that no leasehold             improvements, alterations or changes of any nature, (except for those listed on any

 

attached addenda) shall be made to the leasehold premises or the exterior of the            building without first obtaining the consent of the Landlord in writing, which consent shall not be unreasonably withheld, and thereafter, any and all leasehold improvements made to the Premises which become affixed or attached to the leasehold Premises shall          remain the property of the Landlord at the expiration or termination of this Lease             Agreement. Furthermore, any leasehold improvements shall be made only in                  accordance with applicable federal, state or local codes, ordinances or regulations,         having due regard for the type of construction of the building housing the subject             leasehold Premises. If the Tenant makes any improvements to the Premises the Tenant shall be responsible payment, except the following _____________________________.

Nothing in the Lease shall be construed to authorize the Tenant or any other person       acting for the Tenant to encumber the rents of the Premises or the interest of the Tenant in the Premises or any person under and through whom the Tenant has acquired its       interest in the Premises with a mechanic’s lien or any other type of encumbrance. Under no circumstance shall the Tenant be construed to be the agent, employee or                   representative of Landlord. In the event a lien is placed against the Premises, through    actions of the Tenant, Tenant will promptly pay the same or bond against the same and take steps immediately to have such lien removed. If the Tenant fails to have the Lien    removed, the Landlord shall take steps to remove the lien and the Tenant shall pay        Landlord for all expenses related to the Lien and removal thereof and shall be in default of this Lease.

X. LICENSES AND PERMITS. A copy of any and all local, state or federal permits          acquired by the Tenant which are required for the use of the Premises shall be kept on   site at all times and shall be readily accessible and produced to the Landlord and/or their agents or any local, state, or federal officials upon demand.

XI. OBLIGATIONS OF TENANT. The Tenant shall be primarily responsible whenever    needed for the maintenance and general pickup of the entranceway leading into the       Premises, so that this is kept in a neat, safe and presentable condition. The Tenant shall also be responsible for all minor repairs and maintenance of the leasehold Premises,     particularly those items which need immediate attention and which the Tenants, or their employees, can do and perform on their own, including but not limited to, the                  replacement of light bulbs, as well as the normal repair and cleaning of windows,            cleaning and clearing of toilets, etc., and the Tenant shall properly maintain the               Premises in a good, safe, and clean condition. The Tenant shall properly and promptly   remove all rubbish and hazardous wastes and see that the same are properly disposed  of according to all local, state or federal laws, rules regulations or ordinances.

In the event the structure of the Premises is damaged as a result of any neglect or          negligence of Tenant, their employees, agents, business invitees, or any independent     contractors serving the Tenant or in any way as a result of Tenant’s use and occupancy of the Premises, then the Tenant shall be primarily responsible for seeing that the proper claims are placed with the Tenant’s insurance company, or the damaging party's             insurance company, and shall furthermore be responsible for seeing that the building is  safeguarded with respect to said damage and that all proper notices with respect to said damage, are made in a timely fashion, including notice to the Landlord, and the party or  parties causing said damage. Any damage that is not covered by an insurance company will be the liability of the Tenant.

 

The Tenant shall, during the term of this Lease, and in the renewal thereof, at its sole     expense, keep the interior of the Premises in as good a condition and repair as it is at    the date of this Lease, reasonable wear and use excepted. This obligation would include the obligation to replace any plate glass damaged as a result of the neglect or acts of     Tenant or her guests or invitees. Furthermore, the Tenant shall not knowingly commit     nor permit to be committed any act or thing contrary to the rules and regulations             prescribed from time to time by any federal, state or local authorities and shall expressly not be allowed to keep or maintain any hazardous waste materials or contaminates on   the Premises. Tenant shall also be responsible for the cost, if any, which would be          incurred to bring her contemplated operation and business activity into compliance with  any law or regulation of a federal, state or local authority.

XII. INSURANCE. In the event the Tenant shall fail to obtain insurance required              hereunder and fails to maintain the same in force continuously during the term, Landlord may, but shall not be required to, obtain the same and charge the Tenant for same as    additional rent. Furthermore, Tenant agrees not to keep upon the Premises any articles or goods which may be prohibited by the standard form of fire insurance policy, and in    the event the insurance rates applicable to fire and extended coverage covering the       Premises shall be increased by reason of any use of the Premises made by Tenant,       then Tenant shall pay to Landlord, upon demand, such increase in insurance premium   as shall be caused by said use or Tenant’s proportionate share of any such increase.

XIII. SUBLET/ASSIGNMENT. The Tenant may not transfer or assign this Lease, or any  right or interest hereunder or sublet said leased Premises or any part thereof without first obtaining the prior written consent and approval of the Landlord.

XIV. DAMAGE TO LEASED PREMISES. In the event the building housing the Premises shall be destroyed or damaged as a result of any fire or other casualty which is not the   result of the intentional acts or neglect of Tenant and which precludes or adversely         affects the Tenant’s occupancy of the Premises, then in every such cause, the rent         herein set forth shall be abated or adjusted according to the extent to which the leased   Premises have been rendered unfit for use and occupation by the Tenant and until the    demised Premises have been put in a condition at the expense of the Landlord, at least  to the extent of the value and as nearly as possible to the condition of the Premises        existing immediately prior to such damage. It is understood, however, in the event of       total or substantial destruction to the Premises that in no event shall the Landlord’s         obligation to restore, replace or rebuild exceed an amount equal to the sum of the           insurance proceeds available for reconstruction with respect to said damage.

XV. DEFAULT AND POSSESSION: In the event that the Tenant shall fail to pay said    rent, and expenses as set forth herein, or any part thereof, when the same are due and payable, or shall otherwise be in default of any other terms of said Lease for a period of more than 15 days, after receiving notice of said default, then the parties hereto             expressly agree and covenant that the Landlord may declare the Lease terminated and may immediately re-enter said Premises and take possession of the same together with any of Tenant’s personal property, equipment or fixtures left on the Premises which        items may be held by the Landlord as security for the Tenant’s eventual payment and/or satisfaction of rental defaults or other defaults of Tenant under the Lease. It is further     agreed, that if the Tenant is in default, that the Landlord shall be entitled to take any and all action to protect its interest in the personal property and equipment, to prevent the     unauthorized removal of said property or equipment which threatened action would be

 

deemed to constitute irreparable harm and injury to the Landlord in violation of its            security interest in said items of personal property. Furthermore, in the event of default,  the Landlord may expressly undertake all reasonable preparations and efforts to release the Premises including, but not limited to, the removal of all inventory, equipment or        leasehold improvements of the Tenant’s, at the Tenant’s expense, without the need to    first procure an order of any court to do so, although obligated in the interim to undertake reasonable steps and procedures to safeguard the value of Tenant’s property, including  the storage of the same, under reasonable terms and conditions at Tenant’s expense,    and, in addition, it is understood that the Landlord may sue the Tenant for any damages or past rents due and owing and may undertake all and additional legal remedies then    available.

In the event any legal action has to be instituted to enforce any terms or provisions    under this Lease, then the prevailing party in said action shall be entitled to recover a reasonable attorney's fee in addition to all costs of said action.

Rent which is in default for more than _____ days after due date shall accrue a payment penalty of one of the following:

(check one)

☐ - Interest at a rate of _______________ percent (_____%) per annum on a daily basis until the amount is paid in full.

☐ - Late fee of ______________________ dollars ($__________________) per day until the amount is paid in full.

In this regard, all delinquent rental payments made shall be applied first toward interest due and the remaining toward delinquent rental payments.

XVI. INDEMNIFICATION. The Tenant hereby covenants and agrees to indemnify,           defend and hold the Landlord harmless from any and all claims or liabilities which may    arise from any cause whatsoever as a result of Tenant’s use and occupancy of the          Premises, and further shall indemnify the Landlord for any losses which the Landlord      may suffer in connection with the Tenant’s use and occupancy or care, custody and        control of the Premises. The Tenant also hereby covenants and agrees to indemnify and hold harmless the Landlord from any and all claims or liabilities which may arise from      any latent defects in the subject Premises that the Landlord is not aware of at the signing of the lease or at any time during the lease term.

XVII. BANKRUPTCY - INSOLVENCY. The Tenant agrees that in the event all or a       substantial portion of the Tenant ‘s assets are placed in the hands of a receiver or a     Trustee, and such status continues for a period of 30 days, or should the Tenant make an assignment for the benefit of creditors or be adjudicated bankrupt; or should the       Tenant institute any proceedings under the bankruptcy act or any amendment thereto, then such Lease or interest in and to the leased Premises shall not become an asset in any such proceedings and, in such event, and in addition to any and all other remedies of the Landlord hereunder or by law provided, it shall be lawful for the Landlord to         declare the term hereof ended and to re-enter the leased land and take possession      thereof and all improvements thereon and to remove all persons therefrom and the       Tenant shall have no further claim thereon.

 

XVIII. SUBORDINATION AND ATTORNMENT. Upon request of the Landlord, Tenant    will subordinate its rights hereunder to the lien of any mortgage now or hereafter in force against the property or any portion thereof, and to all advances made or hereafter to be  made upon the security thereof, and to any ground or underlying lease of the property     provided, however, that in such case the holder of such mortgage, or the Landlord under such Lease shall agree that this Lease shall not be divested or in any way affected by     foreclosure, or other default proceedings under said mortgage, obligation secured           thereby, or Lease, so long as the Tenant shall not be in default under the terms of this    Lease. Tenant agrees that this Lease shall remain in full force and effect notwithstanding any such default proceedings under said mortgage or obligation secured thereby.

Tenant shall, in the event of the sale or assignment of Landlord’s interest in the building of which the Premises form a part, or in the event of any proceedings brought for the      foreclosure of, or in the event of exercise of the power of sale under any mortgage made by Landlord covering the Premises, attorn to the purchaser and recognize such               purchaser as Landlord under this Lease.

XIX. MISCELLANEOUS TERMS.

I.   Usage by Tenant: Tenant shall comply with all rules, regulations and laws of any    governmental authority with respect to use and occupancy. Tenant shall not            conduct or permit to be conducted upon the Premises any business or permit any   act which is contrary to or in violation of any law, rules or regulations and                 requirements that may be imposed by any authority or any insurance company with which the Premises is insured, nor will the Tenant allow the Premises to be used in any way which will invalidate or be in conflict with any insurance policies applicable to the building. In no event shall explosives or extra hazardous materials be taken  onto or retained on the Premises. Furthermore, Tenant shall not install or use any   equipment that will cause undue interference with the peaceable and quiet              enjoyment of the Premises by other tenants of the building.

II.   Signs: Tenant shall not place on any exterior door, wall or window of the Premises  any sign or advertising matter without Landlord’s prior written consent and the         approval of the _________________________________ [Municipality]. Thereafter, Tenant agrees to maintain such sign or advertising matter as first approved by        Landlord in good condition and repair.  Furthermore, Tenant shall conform to any    uniform reasonable sign plan or policy that the Landlord may introduce with respect to the building. Upon vacating the Premises, Tenant agrees to remove all signs       and to repair all damages caused or resulting from such removal.

III.   Pets: Unless otherwise stated in this Lease Agreement, the only pets that shall be allowed on the Premises are those needed legally due to a disability or handicap.

IV.   Condition of Premises/Inspection by Tenant: The Tenant has had the opportunity   to inspect the Premises and acknowledges with its signature on this lease that the Premises are in good condition and comply in all respects with the requirements of this Lease. Furthermore, the Landlord makes no representation or warranty with    respect to the condition of the Premises or its fitness or availability for any              particular use, and the Landlord shall not be liable for any latent or patent defect    therein. Furthermore, the Tenant represents that Tenant has inspected the