Security Deposit Commercial Lease

By | August 9, 2011

A security deposit commercial lease is a document which expressly deals with those commercial leases that have a clause dedicated to the security deposit that the lessee shall pay the lessor. They are like other commercial leases except that they place emphasis on this article of the security deposit and detail it at some length. They must be written after consultation with lawyers and they must be framed in an appropriate manner suited to a document of legal import.

Sample Security Deposit Commercial Lease:

The following document is a security deposit commercial lease that outlines the agreement between Kilter Inc. [henceforth referred to as the lessor] and Techtronic Inc. [henceforth referred to as the lessee] regarding the leasing by the former of a plot of land belonging to it to the latter for the duration of one year. The date of commencement of the commercial lease is 13th June 2011 and the date of termination is 13th June 2012. The lessee shall pay a refundable security deposit of $40000 in bonds and stocks against this land, which will be refunded in its entirety, after the property has been submitted to the lessor in the intact condition. Apart from this, the lessee shall also have to pay a monthly rent to the lessor, the amount of which has been decided through mutual consent. The terms and conditions guiding this security deposit commercial lease must be adhered to otherwise the offender shall incur heavy penalty.

Signature of lessor: ____________________________

Signature of lessee: ____________________________

Date: 12th June 2010

Place: New York

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