The law society commercial lease basically puts forth a set of distinct laws to help in the effective framing of a commercial lease, so as to strike the right cord that would satisfy the best interests of both the involved parties of the lease – the landlord as well as the tenant. Such a lease should be lucidly drawn to suit all.
Sample Law Society Commercial Lease:
This lease has been signed by all parties, supposing the fact that all the terms and conditions defining it have been made clear to everyone involved, who have also agreed to act accordingly. The particulars of the transaction have been discussed in details, in the following points:
Commercial Lease Number: 3728906
Name of the Leaser: Mozilla Companies Pvt. Ltd.
Address: 45, Levin Street, New York
Name of the lessee: Romania Constructions Pvt. Ltd.
Address: 98, Rector Lane, New York
Validity date(s) of the commercial lease: 3rd September, 2011 – 3rd September, 2021
- Name: Mozilla Apartments
- Address: 34, Levin Street, New York
- Area: 6700 sq feet
- Price: $ 5400000
Purpose: The property will be commercially utilized for construction of residential apartments. The lease places the property’s responsibility on Romania Constructions, who would thus be liable for any damage caused to the property during the lease term.
Some notable clauses include:
- The landlord can ask for a guarantor to the lease in the event of the tenant residing overseas.
- The tenant has no right of structural alterations, while that of systems and other repairing activities can be performed with due permission of the landlord.
- Mike Thomas: ____________________________ [signature]
- Advocate James Sam: ______________________________ [signature]
I hereby declare that all terms included in the lease have been clearly read and understood.
[Signature of leaser]
[Signature of lessee]