COMMERCIAL LEASE AGREEMENTTHIS COMMERCIAL LEASE AGREEMENT (“Lease”) made and entered into this [Date], by and between [Landlord’s Name] (hereinafter “Landlord”), and [Tenant’s Name] (hereinafter “Tenant”).
1. PREMISES:[Landlord’s Name], in consideration of the lease payments provided in this Agreement, leases to [Tenant’s Name], the Property located at [Property Address]. The property will be used for [Type of Business] purposes only. This Lease is made pursuant to the laws of the state of Michigan.
2. TERM:This Agreement shall commence on [Starting Date] and continue (unless sooner terminated) until [Ending Date].
3. LEASE PAYMENTS:Tenant agrees to pay [Amount in Words] dollars ($[Amount in Numerals]) per month, due on the first day of each calendar month.
4. SECURITY DEPOSIT:Upon the due execution of this Agreement, Tenant will deposit with Landlord the sum of [Security Deposit Amount] dollars ($[Amount in Numerals]) as security for the performance by Tenant of the terms under this Lease.
5. USE OF PREMISES:The premises shall be used and occupied by Tenant only for the conduct of [Type of Business], and for no other purpose without the Landlord’s prior written consent.
6. REPAIR AND MAINTENANCE:Tenant will keep the Premises in good, clean, and sanitary condition. The Tenant will alert the Landlord to any damage to the Premises.
7. INSURANCE:Tenant will maintain, at its expense, personal property insurance, general liability insurance, and business interruption insurance. The Landlord will be named as an additional insured under Tenant’s policies.
8. DEFAULT:If 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. COMPLIANCE WITH LAW:The Tenant shall comply with all the statutes, ordinances and requirements of all municipal, state and federal authorities now in force, or which may hereafter be in force, regarding the Premises.
10. ASSIGNMENT AND SUBLETTING:Tenant shall not assign this Lease, or sublet or grant any concession or license to use the Premises or any part thereof without the prior written consent of the Landlord.
11. ENTIRE AGREEMENT:This Lease contains all the terms agreed to by the parties relating to its subject matter including any attachments or addenda hereto, replacing all previous discussions and agreements.
12. GOVERNING LAW:This Lease shall be governed by and construed in accordance with the laws of the State of Michigan. IN WITNESS WHEREOF, the parties have executed this Lease as of the day and year first above written. LANDLORD: [Landlord’s Name] [Landlord’s Signature] [Date] TENANT: [Tenant’s Name] [Tenant’s Signature] [Date]
For landlords and businesses in the Great Lakes State, the Commercial Lease Agreement Template Michigan serves as an indispensable document covering all aspects of a business tenancy. This is complemented by the Contract for Rental Property Michigan, which formalizes residential lease arrangements.
Buying or selling property in The Wolverine State? Utilize our Contract for Sale of Real Estate in Michigan to ensure all terms and conditions are clearly laid out and legally binding.
For those interested in residential rent or sublet scenarios, the Room Rental Agreement Template Michigan provides a solid legal framework to protect both landlord and renter rights.
Finally, if you are looking to clarify terms of property use without transferring ownership or tenant rights, turn to our Occupancy Agreement Template Michigan. Each of these resources ensures that your property agreements are in compliance with Michigan’s real estate laws.