COMMERCIAL LEASE AGREEMENTThis Commercial Lease Agreement (“Lease”) is made and effective this [Date], by and between [Landlord’s Name] (“Landlord”), and [Tenant’s Name] (“Tenant”).
1. PREMISES[Landlord’s Name], in consideration of the lease payments provided in this Agreement, leases to [Tenant’s Name] the premises located at [Premises]. The Premises will be used for the purpose of [Business Purpose]. No other portion of the Building will be used by Tenant without additional agreement between Landlord and Tenant.
2. TERMThe initial term of this Lease will start on [Start Date] and will terminate on [End Date]. Thereafter the Lease will continue on a month-to-month basis until either Landlord or Tenant terminate this Lease with written notice.
3. LEASE PAYMENTSTenant agrees to pay [Amount] per month, on the 1st day of each calendar month. If the Lease begins after the 1st day of the month, the first month’s rent will be prorated.
4. SECURITY DEPOSITUpon execution of this Lease, Tenant will deposit with Landlord the sum of [Amount] as security for Tenant’s faithful performance of Tenant’s obligations under this Lease.
5. USE OF PREMISESThe premises shall be used and occupied by Tenant exclusively as a [Type of Business]. The premises shall not be used for any unlawful purpose.
6. REPAIR AND MAINTENANCETenant will keep the Premises in clean, sanitary, and good condition. If Tenant fails to do so, Landlord may enter the Premises to make necessary repairs and Tenant shall be responsible for the cost of such repairs.
7. INSURANCETenant will maintain, at Tenant’s expense, liability insurance in an amount not less than [Amount] with [Landlord’s Name] named as an additional insured.
8. DEFAULTIf Tenant fails to comply with any of the material provisions of this Lease, or of any present rules and regulations governing the Premises, Landlord may terminate this Lease upon providing proper notice to Tenant.
9. GOVERNING LAWThis Lease shall be governed by and construed in accordance with the laws of the state of Kentucky.
10. ENTIRE AGREEMENTThis Lease contains the complete agreement between Landlord and Tenant and cannot be changed except by written agreement.
[Tenant’s Name] This lease agreement should be reviewed by a lawyer before signing. This is a binding legal document. Legal advice is recommended to protect the parties involved. Please note the Kentucky Uniform Residential Landlord and Tenant Act (KRS 383.500 – 383.715) may not apply to commercial lease agreements. The parties should understand their rights under Kentucky law.
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