Fillable Printable Delaware Commercial Lease Agreement Template
Fillable Printable Delaware Commercial Lease Agreement Template
Delaware Commercial Lease Agreement Template
Delaware'Commercial'Lease'Agreement'
!
This!Commercial!Lease!Agreement!is!entered!into!on!this!_____!day!of!_____________,!
20______.!
!
The'Parties'
!
Between!
!
__________________________________________________!(Landlord)!
!
And!
!
____________________________________________________!(Tenant)!
!
Landlord!is!the!owner!of!land!and!improvements!whose!address!is:!
!
_____________________________________________________________________________!
!
Landlord!makes!available!for!lease!a!portion!of!the!Building!designated!as!
!
___________________________________________________________________!!
(Leased!Commercial!Space).!
!
Landlord!desires!to!lease!the!Leased!Commercial!Space!to!Tenant,!and!Tenant!
desires!to!lease!the!Leased!Commercial!Space!(space)!from!Landlord!for!the!term,!at!
the!rental!and!upon!the!provisions!set!forth!herein.!
!
THEREFORE,!in!consideration!of!the!mutual!promises!contained!herein,!and!for!
other!good!and!valuable!consideration,!it!is!agreed:!
!
Terms'and'Conditions'
!
The!Initial!Term!of!the!Lease!shall!begin!on!the!_____!day!of!_____________,!20_____,!and!
end!on!the!_____!day!of!_____________,!20_____.!Landlord! sha ll!use!its!best!efforts!to!p u t!
Tenant!in!possession!of!the!Leased!Commercial!Space!on!the!beginning!of!the!Lease!
term.!If!Landlord!is!unable!to!timely!provide!the!Leased!Commercial!Space,!rent!
shall!abate!for!the!period!of!delay.!Tenant!shall!make!no!other!claim!against!
Landlord!for!any!such!delay.!
!
Tenant!may!renew!the!Lease!for!one!extended!term!of!_______________________.!Tenant!
shall!exercise!such!renewal!option,!if!at!all,!by!providing!w rit t en!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!contained!in!this!Lease.!
!
Rent'
!
Tenant!shall!pay!to!Landlord!during!the!Initial!Term!rent!of!_________________!Dollars!
($__________)!per!year,!payable!in!installments!of!_______________!Dollars!
($_______________)!per!month.!Each!installment!payment!shall!be!due!in!advance!on!
the!__________!day!of!each!calendar!month!during!the!lease!term!to!Landlord!at!the!
following!address:!
!
_________________________________________________________________________________________________!
!
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!
__________________!Dollars!($).!
!
The!rental!for!any!renewal!lease!term,!if!created!as!permitted!under!this!Lease,!shall!
be!__________________!Dollars!($!)!per!year!payable!in!installments!of!_____________!
Dollars!($!)!per!month.!
!
Prohibited'Uses'
!
Notwithstanding!the!forgoing,!Tenant!shall!n ot!use!the!Leased!Commercial!Space!for!
the!purposes!of!storing,!manufacturing!or!selling!any!explosives,!flammables!or!
other!inherently!dangerous!substance,!chemical,!thing!or!device.!
!
Sublease'and'Assignment'
!
Tenant!shall!have!the!right!without!Landlord's!consent ,!t o!a ssign!t his!Lease!to!a!
business!with!which!Tenant!may!merge!or!consolidate,!to!any!subsidiary!of!Tenant,!
to!any!corporation!under!common!control!with!Tenant,!or!to!a!purchaser!of!
substantially!all!of! Tena nt 's!assets.!
!
Except!as!set!forth!above,!Tenant!shall!not!sublease!all!or!any!part!of!the!Leased!
Commercial!Space,!or!assign!this!Lease!in!whole!or!in!part!without!Landlord's!
consent,!such!consent!not!to!be!unreasonably!withheld!or!delayed.!
!
Repairs'
!
During!the!Lease!term,!Tenant!shall!make,!at!Tenant's!expense,!all!necessary!repairs!
to!the!Leased!Commercial!Space.!Repairs!shall!include!such!items!as!routine!repairs!
of!floors,!walls,!ceilings,!and!other!parts!of!the!Leased!Commercial!Space!damaged!
or!worn!through!normal!occupancy,!except!for!major!mechanical!systems!or!the!
roof,!subject!to!the!oblig a tions!of!the!parties!otherwise!set!forth!in!this!Lease.!
!
Alterations'and'Improvements'
!
Tenant,!at!Tenant's!expense,!shall!have!the!right,!upon!ob t a ining!La ndlord's!consent,!
to!remodel,!redecorate,!and!make!additions,!improvements!and!replacements!of!and!
to!all!or!any!part!of!the!Leased!Commercial!Space!from!time!to!time!as!Tenant!may!
deem!desirable,!provided!the!same!are!made!in!a!workmanlike!manner!and!utilizing!
good!quality!materials.!Tenant!shall!have!the!right!to!place!and!install!personal!
property,!trade!fixtures,!equipment!and!other!temporary!installations!in!and!upon!
the!Leased!Commercial!Space,!and!fasten!the!same!to!the!premises.!All!personal!
property,!equipment,!machinery,!trade!fixtures!and!temporary!installations,!
whether!acquired!by!Tenant!at!the!commencement!of!the!Lease!term!or!placed!or!
installed!on!the!Leased!Commercial!Space!by!Tenant!thereafter,!shall!remain!
Tenant's!property!free!and!clear!of!any!claim!by!Landlord.!Tenant!shall!have!the!
right!to!remove!the!same!at!any!time!during!the!term!of!this!Lease!provided!that!
Tenant!shall!repair,!at!Tenant's!expense,!all!damage!to!the!Leased!Commercial!Space!
caused!by!such!removal.!
!
Property'Taxes'
!
Landlord!shall!pay,!prior! t o!delinquency,!all!general!real!estate!taxes!and!
installments!of!special!assessments!coming!due!during!the!Lease!term!on!the!Leased!
Commercial!Space,!and!all!personal!property!taxes!with!respect!to!Landlord's!
personal!property,!if!any,!on!the!Leased!Commercial!Space.!Tenant!shall!be!
responsible!for!paying!all ! personal!property!taxes!with!respect!to!Tenant's!personal!
property!at!the!Leased!Commercial!Space.!
!
Insurance'
!
If!the!Leased!Commercial!Space!or!any!other!part!of!the!Building!is!damaged!by!fire!
or!other!casualty!resulting!from!any!act!of!negligence!by!Tenant!or!by!any!of!
Tenant's!agents,!employees!or!invitees,!rent!shall!not!be!diminished!or!abated!while!
such!damages!are!under!repair,!and!Tenant!shall!be!responsible!for!the!costs!of!
repair!not!covered!by!insurance.!
!
Landlord!shall!maintain!fire!and!extended!coverage!insurance!on!the!Building!and!
the!Leased!Commercial!Space!in!such!amount,!as!Landlord!shall!deem!appropriate.!
Tenant!shall!be!responsible,!at!its!expense,!for!fire!and!extended!covera ge!insura nce!
on!all!of!its!personal!property,!including!removable!trade!fixtures,!located!in!the!
Leased!Commercial!Space.!
!
Tenant!and!Landlord!shall,!each!at!its!own!expense,!maintain!a!policy!or!policies!of!
comprehensive!general!liability!insurance!with!respect!to!the!particular!activities!of!
each!in!the!Building!with!the!premiums!thereon!fully!paid!on!or!before!due!date.!
Such!insurance!policy!shall!be!issued!by!and!binding!upon!an!insurance!company!
approved!by!Landlord,!and!shall!afford!minimum!protection!of!not!less!than!
$_________________!combined!single!limit!coverage!of!bodily!injury,!property!damage!or!
combination!thereof.!Tenant!shall!provide!Landlord!with!current!Certificates!of!
Insurance!evidencing!Tenant's!compliance!with!this!Paragraph.!
!
Utilities'
!
Tenant!shall!pay!all!charges!for!water,!sew er,!ga s,!el ect ricity,!telephone!and!other!
services!and!utilities!used!by!Tenant!on!the!Leased!Commercial!Space!during!the!
term!of!this!Lease!unless!otherwise!expressly!agreed!in!writing!by!Landlord.!In!the!
event!that!any!utility!or!service!provided!to!the!Leased!Commercial!Space!is!not!
separately!metered,!Landlord!shall!pay!the!amount!due!and!separately!invoice!
Tenant!for!Tenant's!pro!rata!share!of!the!charges.!
!
Tenant!shall!pay!such!all!such!utility!charges!prior!t o!t he!due!da t e.!Tenant!
acknowledges!that!the!Leased!Commercial!Space!is!designed!to!provide!standard!
office!use!electrical!facilities!and!standard!office!lighting.!Tenant!shall!not!use!any!
equipment!or!devices!that!utilize!excessive!electrical!energy!or!which!may,!in!
Landlord's!reasonable!opinion, ! over!load!the!wiring!or!interfere!with!electrical!
services!to!other!tenants.!
!
Signs'
!
Following!Landlord's!consent, ! Tenant!shall!have!the!right!to!place!on!the!Leased!
Commercial!Space,!at!locations!selected!by!Tenant,!any!signs!which!are!permitted!by!
applicable!zoning!ordinances!and!private!restrictions.!Landlord!may!refuse!consent!
to!any!proposed!signage!that!is!in!Landlord's!opinion!too!large,!deceptive,!
unattractive!or!otherwise!inconsistent!with!or!inappropriate!to!the!Leased!
Commercial!Space!or!use!of!any!other!tenant.!Landlord!shall!assist!and!cooperate!
with!Tenant!in!obtaining!any!necessary!permission!from!governmental!authorities!
or!adjoining!owners!and!occupants!for!Tenant!to!place!or!construct !t he!foregoing!
signs.!Tenant!shall!repair!all!damages!to!the!Leased!Commercial!Space!resulting!
from!the!removal!of!signs!installed!by!Tenant.!
!
Entry'
!
Landlord!shall!have!the!right!to!enter!upon!the!Leased!Commercial!Space!at!
reasonable!hours!to!inspect!the!same,!provided!Landlord!shall!not!thereby!
unreasonably!interfere!with!Tenant's!business!on!the!Leased!Commercial!Space.!
!
Parking'
!
During!the!term!of!this!Lease,!Tenant!shall!have!the!nonWexclusive!use!in!common!
with!Landlord,!other!tenants!of!the!Building,!their!guests!and!invitees,!of!the!nonW
reserved!common!automobile!parking!areas,!driveways,!and!footways,!subject!to!
rules!and!regulations!for!the!use!thereof!as!prescribed!from!time!to!time!by!
Landlord.!Landlord!reserves!the!right ! to!designate!parking!areas!for!Tenant!and!
Tenant's!agents!and!employees.!Tenant!shall!provide!Landlord!with!a!list!of!all!
license!numbers!for!the!cars!owned!by!Tenant,!its!agents!and!employees.!
!
Building'Rules'
!
Tenant!will!comply!with!the!rules!of!the!Building!adopted!and!altered!by!Landlord!
from!time!to!time!and!will!cause!all!of!its!agents,!employees,!invitees!and!visitors!to!
do!so;!all!changes!to!such!rul es! w ill!be!sent!by!Landlord!to!Tenant!in!writing.!The!
initial!rules!for!the!Building!are!attached!hereto!as!Exhibit!"A"!and!incorporated!
herein!for!all!purposes.!
!
Damage'and'Destruction'
!
If!the!Leased!Commercial!Space!or!any!part!thereof!or!any!appurtenance!thereto!is!
so!damaged!by!fire,!casualty!or!structural!defects,!such!damage!or!defects!not!being!
the!result!of!any!act!of!negligence!by!Tenant!or!by!any!of!Tenant's!agents,!employees!
or!invitees,!that!the!same!cannot!be!used!for!Tenant's!purposes,!then!Tenant!shall!
have!the!right!within!______!days!following!damage!to!elect!by!notice!to!Landlord!to!
terminate!this!Lease!as!of!the!date!of!such!damage.!In!the!event!of!minor!damage!to!
any!part!of!the!Leased!Commercial!Space,!and!if!such!damage!does!not!render!the!
Leased!Commercial!Space!unusable!for!Tenant's!purposes,!Landlord!shall!promptly!
repair!such!damage!at!the!cost!of!the!Landlord.!
!
In!making!the!repairs!called!for!in!this!paragraph,!Landlord!shall!not!be!liable!for!
any!delays!resulting!from!strikes,!governmental!restrictions,!inability!to!obtain!
necessary!materials!or!labor!or!other!matters!which!are!beyond!the!reasonable!
control!of!Landlord.!Tenant!shall!be!relieved!from!paying!rent!and!other!charges!
during!any!portion!of!the!Lease!term!that!the!Leased!Commercial!Space!are!
inoperable!or!unfit!for!occupancy,!or!use,!in!whole!or!in!part,!for!Tenant's!purposes.!
Rentals!and!other!charges!paid!in!advance!for!any!such!periods!shall!be!credited!on!
the!next!ensuing!payments,!if!any,!but!if!no!further!payments!are!to!be!made,!any!
such!advance!payments!shall!be!refunded!to!Tenant.!The!provisions!of!this!
paragraph!extend!not!only!to!the!matters!aforesaid,!but!also!to!any!occurrence!that!
is!beyond!Tenant's!reasonable!control!and!which!renders!the!Leased!Commercial!
Space,!or!any!appurtenance!thereto,!inoperable!or!unfit!for!occupancy!or!use,!in!
whole!or!in!part,!for!Tenant's!purposes.!
!
Default'
!
In!the!event!of!a!default!made!by!Tenant!in!the!payment!of!rent!when!due!to!
Landlord,!Tenant!shall!have!________!days!after!receipt!of!written!notice!t hereof! to!
cure!such!default.!In!the!event!of!a!default!made!by!Tenant!in!any!of!the!other!
covenants!or!conditions!to!be!kept,!observed!and!performed!by!Tenant,!Tenant!shall!
have!______!days!after!receipt!of!written!notice! thereof!to!cure!such!default.!In!the!
event!that!the!Tenant!shall!fail!to!cure!any!default!within!the!time!allowed!under!
this!paragraph,!Landlord!may!declare!the!term!of!this!Lease!ended!and!terminated!
by!giving!Tenant!written!notice!of!such!intention,!and!if!possession!of!the!Leased!
Commercial!Space!is!not!surrendered,!Landlord!may!reWenter!said!premises.!
Landlord!shall!have,!in!addition!to!the!remedy!above!provided,!any!other!right!or!
remedy!available!to!Landlord!on!account!of!any!Tenant!default,!either!in!law!or!
equity.!Landlord!shall!use!reasonable!efforts!to!mitigate!its!damages.!
!
Quiet'Possession'
!
Landlord!covenants!and!wa rra nts!that!upon!performance!by!Tenant!of!its!
obligations!hereunder,!Landlord!will!keep!and!maintain!Tenant!in!exclusive,!quiet,!
peaceable!and!undisturbed!and!uninterrupted!possession!of!the!Leased!Commercial!
Space!during!the!term!of!Lease.!
!
Condemnation'
!
If!any!legally,!constituted!authority!condemns!the!Building!or!such!part!thereof!
which!shall!make!the!Leased!Commercial!Space!unsuitable!for!leasing,!this!Lease!
shall!cease!when!the!publ ic! a uthority!takes!possession,!and!Landlord!and!Tenant!
shall!account!for!rental!as!of!that!date.!Such!termination!shall!be!without!prejudice!
to!the!rights!of!either!party!to!recover!compensation!from!the!condemning!
authority!for!any!loss!or!damage!caused!by!the!condemnation.!Neither!party!shall!
have!any!rights!in!or!to!any!award!made!to!the!other!by!the!condemning!authority.!
!
Subordination'
!
Tenant!accepts!this!Lease!subject!and!subordinate!to!any!mortgage,!deed!of!trust!or!
other!lien!presently!existing!or!hereafter!arising!upon!the!Leased!Commercial!Space,!
or!upon!the!Building!and!to!any!renewals,! refinancing!and!extensions!thereof,!but!
Tenant!agrees!that!any!such!mortgagee!shall!have!the!right!at!any!time!to!
subordinate!such!mortgage,!deed!of!trust!or!other!lien!to!this!Lease!on!such!terms!
and!subject!to!such!conditions!as!such!mortgagee!may!deem!appropriate!in!its!
discretion.!Landlord!is!hereby!irrevocably!vested!with!full!power!and!authority!to!
subordinate!this!Lease!to!any!mortgage,!deed!of!trust!or!other!lien!now!existing!or!
hereafter!placed!upon!the!Leased!Commercial!Space!of!the!Building.!Tenant!agrees!
that!it!will!from!time!to!time!upon!request!by!Landlord!execute!and!deliver!to!such!
persons!as!Landlord!shall!request!a!statement!in!recordable!form!certifying!that!this!
Lease!is!unmodified!and!in!full!force!and!effect!(or!if!there!have!been!modifications,!
that!the!same!is!in!full!force!and!effect!as!so!modified),!stating!the!dates!to!which!
rent!and!other!charges!paya b le!under!this!Lease!have!been!paid,!stating!that!
Landlord!is!not!in!default ! hereunder!(or!if!Tenant!alleges!a!default!stating!the! n ature!
of!such!alleged!default)!and!further!stating!such!other!matters!as!Landlord!shall!
reasonably!require.!
!
Security'Deposit'
!
Landlord!shall!hold!the!Secu rit y!Deposit!without!liability!for!interest!and!as!security!
for!the!performance!by!Tenant!of!Tenant's!covenants!and!obligations!under!this!
Lease,!it!being!expressly!u n derstood!that!Tenant!shall!not!consider!the!Security!
Deposit!an!advance!payment!of!rent!or!a!measure!of!Landlord's!damages!in!case!of!
default.!Unless!otherwise!provided!by!law!or!regulation,!Landlord!may!commingle!
the!Security!Deposit!with!Landlord'!s!other!funds.!Landlord!may,!from!time!to!time,!
without!prejudice!to!any!other!remedy,!use!the!Security!Deposit!to!the!extent!
necessary!to!make!good!any!arrearages!of!rent!or!to!satisfy!any!other!covenant!or!
obligation!of!Tenant!hereunder.!Following!any!such!applicat ion!o f! the!Security!
Deposit,!Tenant!shall!pay!to!Landlord!on!demand!the!amount!so!applied!in!order!to!
restore!the!Security!Deposit!to!its!original!amount.!If!Tenant!is!not!in!default!at!the!
termination!of!this!Lease,!Landlord!shall!return!the!balance!of!the!Security!Deposit!
remaining!after!any!such!application!to!Tenant.!
!
Notice'
!
Any!notice!required!or!permitted!under!this!Lease!shall!be!deemed!sufficiently!
given!or!served!if!sent!by!United!States!certified!mail,!return!receipt!requested,!
addressed!as!follows:!
!
Landlord:!
!
____________________________________________________________________________________!
____________________________________________________________________________________!
!
Tenant:!
!
____________________________________________________________________________________!
____________________________________________________________________________________!
!
Landlord!and!Tenant!shall!each!have!the!right!from!time!to!time!to!change!the!place!
notice!is!to!be!given!under!this!paragraph!by!written!notice!thereof!to!the!other!
party.!
!
Brokers'
!
Tenant!represents!that!Tenant!was!not!shown!the!Premises!by!any!real!estate!
broker!or!agent!and!that!Tenant!has!not!otherwise!engaged!in,!any!activity!which!
could!form!the!basis!for!a!claim!for!real!estate!commission,!brokerage!fee,!finder's!
fee!or!other!similar!charge,!in!connection!with!this!Lease.!
!
Waiver'
!
No!waiver!of!any!default!of!Landlord!or!Tenant!hereunder!shall!be!implied!from!any!
omission!to!take!any!action!on!account!of!such!default!if!such!default!persists!or!is!
repeated,!and!no!express!w a iver!shall!affect!any!default!other!than!the!default!
specified!in!the!express!waiver!and!that!only!for!the!time!and!to!the!extent!therein!
stated.!One!or!more!waivers!by!Landlord!or!Tenant!shall!not!be!construed!as!a!
waiver!of!a!subsequent!breach!of!the!same!covenant,!term!or!condition.!
!
Memorandum'of'Lease'
!
The!parties!hereto!contemplate!that!this!Lease!should!not!and!shall!not!be!filed!for!
record,!but!in!lieu!thereof,!at!the!request!of!either!party,!Landlord!and!Tenant!shall!
execute!a!Memorandum!of!Lease!to!be!recorded!for!the!purpose!of!giving! record!
notice!of!the!appropriate!provisions!of!this!Lease.!
!
Headings'
!
The!headings!used!in!this!Lease!are!for!convenience!of!the!parties!only!and!shall!not!
be!considered!interpreting!the!meaning!of!any!provision!of!this!Lease.!
!
Successors'
!
The!provisions!of!this!Lease!shall!extend!to!and!be!binding!upon!Landlord!a nd!
Tenant!and!their!respective!legal!representatives,!successors!and!assigns.!
!
Consent'
!
Landlord!shall!not!unrea son ably!withhold!or!delay!its!consent!with!respect!to!any!
matter!for!which!Landlord's!consent!is!required!or!desirable!under!this!Lease.!
!
Performance'
!
If!there!is!a!default!with!respect!to!any!of!Landlord's!covenants,!warranties!or!
representations!under!this!Lease,!and!if!the!default!continues!more!than!fifteen!(15)!
days!after!notice!in!writing!from!Tenant!to!Landl ord!specifying!the!default,!Tenant!
may,!at!its!option!and!without!affecting!any!other!remedy!hereunder,!cure!such!
default!and!deduct!the!cost!thereof!from!the!next!accruing!installment!or!
installments!of!rent!payable!hereunder!until!Tenant!shall!have!been!fully!
reimbursed!for!such!expenditures,!together!with!interest!thereon!at!a!rate!equal!to!
the!lesser!of!______!percent!(%)!per!annum!or!the!then!highest!lawful!rate.!If!this!
Lease!terminates!prior!to!Tenant's!receiving!full!reimbursement,!Landlord!shall!pay!
the!unWreimbursed!balance!plus!accrued!interest!to!Tenant!on!demand.!
!
Compliance'with'Law'
!
Tenant!and!Landlord!each!shall!comply!with!all!laws,!orders,!ordinances!and!other!
public!requirements!now!or!hereafter!affecting!the!Leased!Commercial!Space.!
!
Final'Agreement'
!
This!Agreement!terminates!and!supersedes!all!prior!understandings!or!agreements!
on!the!subject!matter!hereof.!This!Agreement!may!be!modified!only!by!a!further!
writing!that!is!duly!executed!by!both!parties.!
!
IN!WITNESS!WHEREOF,!the!parties!have!executed!this!Lease!as!of!the!day!and!year!
first!above!written.!
!
__________________________________!
Landlord’s!Signatures!
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________________________________!
Witness’s!Signatures!
!
__________________________________!
Tenant’s!Signatures!
!
________________________________!
Witness’s!Signatures!
