1. PARTIESThis Lease Agreement (“Lease”) made and entered into this ________ day of _________, 20_____, (the “Effective Date”) by and between _________________, a North Dakota corporation, with a principal office at ________________, North Dakota, (the “Landlord”), and _________________, a __________ corporation, with a principal office at ________________, North Dakota, (the “Tenant”).
2. PREMISESLandlord hereby leases to Tenant and Tenant hereby rents from Landlord the premises located at _____________, North Dakota (the “Premises”). The Premises will be used for _______________.
3. TERMThe initial term of this Lease will begin on _______________, and will end on _______________. Thereafter, the Lease will continue on a month-to-month basis until and unless either Landlord or Tenant terminate this Lease with written notice.
4. RENTTenant shall pay to Landlord the monthly rent of $__________, payable on the first day of each calendar month.
5. SECURITY DEPOSITUpon the execution of this Lease, Tenant will deposit with Landlord the sum of $__________ as security for Tenant’s faithful performance of Tenant’s obligations under this Lease.
6. REPAIR AND MAINTENANCETenant will keep the Premises in clean, sanitary, and good condition. If any damage to the Premises is caused by Tenant or Tenant’s guests, Tenant will immediately notify the Landlord and will pay for any necessary repairs.
7. INSURANCETenant will maintain sufficient insurance to cover all personal property located on the Premises. Landlord will maintain insurance covering the building and real property.
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 will be governed by and construed in accordance with the laws of the state of North Dakota.
10. ENTIRE AGREEMENTThis Lease contains the complete agreement between Landlord and Tenant and cannot be changed except by written agreement.
11. INDEMNIFICATIONTenant will indemnify and hold Landlord harmless from and against any claims for damages to property or personal injury occurring on the Premises.
LANDLORD:_____________________________ (INSERT LANDLORD NAME) _____________________________ Date
TENANT:_____________________________ (INSERT TENANT NAME) _____________________________ Date This template is a general guide and may need adjusting to fit specific situations. It is always recommended to seek legal counsel before entering into any contractual agreements.
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