Create an Office Lease

Create an Office Lease - Virginia Commercial Lease...

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Virginia Commercial Lease Agreement This Commercial Lease Agreement ("Lease") is made and effective _January 1, 2007_ by and between _Sperry Van Ness_ ("Landlord") and _John Smith _("Tenant"). Landlord is the owner of land and improvements commonly known and numbered as _8920 Southlawn Avenue, Arlington, Virginia 22333, Fairfax County_ and legally described as follows (the "Building"): _Engleside Office Park, Building 3, Unit 115_. Landlord makes available for lease a portion of the Building designated as _Suite #115_ (the "Leased Premises"). Landlord desires to lease the Leased Premises to Tenant, and Tenant desires to lease the Leased Premises from Landlord for the term, at the rental and upon the covenants, conditions and provisions herein set forth. THEREFORE, in consideration of the mutual promises herein, contained and other good and valuable consideration, it is agreed: 1. Term . A. Landlord hereby leases the Leased Premises to Tenant, and Tenant hereby leases the same from Landlord, for an "Initial Term" beginning _January 1, 2007_ and ending _December 31, 2017_. Landlord shall use its best efforts to give Tenant possession as nearly as possible at the beginning of the Lease term. If Landlord is unable to timely provide the Leased Premises, rent shall abate for the period of delay. Tenant shall make no other claim against Landlord for any such delay. B. Tenant may renew the Lease for one extended term of _five years_ . Tenant shall exercise such renewal option, if at all, by giving written notice to Landlord not less than ninety (90) days prior to the expiration of the Initial Term. The renewal term shall be at the rental set forth below and otherwise upon the same covenants, conditions and provisions as provided in this Lease. 2. Rental . A. Tenant shall pay to Landlord during the Initial Term rental of _$32,400.00_ per year, payable in installments of _$2,700.00_ per month. Each installment payment shall be due in advance on the first day of each calendar month during the lease term to Landlord at _243 Porter Creek Road, Elma, Washington 98541, Suite #43_ or at such other place designated by written notice from Landlord or Tenant. The rental payment amount for any partial calendar months included in the lease term shall be prorated on a daily basis. Tenant shall also pay to Landlord a "Security Deposit" in the amount of _$2,700.00_ . B. The rental for any renewal lease term, if created as permitted under this Lease, shall be _$37,200.00 per year payable in installments of _$3,100.00_ per month. 3. Use Notwithstanding the forgoing, Tenant shall not use the Leased Premises for the purposes of storing, manufacturing or selling any explosives, flammables or other inherently dangerous substance, chemical, thing or device. 4.
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This note was uploaded on 12/15/2011 for the course BUSINESS L 101 taught by Professor Smith during the Spring '11 term at American.

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Create an Office Lease - Virginia Commercial Lease...

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