Commercial Lease Canada Draft

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THIS COMMERCIAL LEASE AGREEMENT (hereinafter the "Agreement")
is entered into, this ____ day of ______________, _________, by and between:
__________, __________
Herein after referred to as the "Landlord"
__________, __________
Herein after referred to as the "Tenant"
  1. The Premises
    Landlord does hereby lease to the Tenant and the Tenant does hereby lease and take from Landlord the property located in (hereinafter referred to as the "Premises").
  2. Lease Term
    This lease agreement shall commence on , , and shall terminate on , .
  3. Lease Extension
    The parties may choose to extend this agreement upon such terms as may be agreed upon in writing and signed by the parties at the time of any such extension.
  4. Purpose
    The Tenant may use the Premises for __________ and for no other purpose.
  5. Rent
    Tenant shall pay to Landlord as Rent the Amount of dollars ($_______) payable __________ (hereinafter the "Rent"), in advance without demand on or before the __________ day of each payment period at __________, or at such other place as the parties can agree upon.
    The Tenant agrees that rent shall be paid in lawful money of Canada. The rent shall be payable by __________.
    The operating expenses are all the expenses incurred by Landlord during each calendar year for the maintenance, administration, and operation of the building. The operating expenses include but is not limited to all cleaning, utilities, landscaping, real and personal property taxes, parking maintenance, insurance premiums, repairs and maintenance, and other charges of the like. Tenant's proportionate share is determined taking the fraction of the approximate square feet of floor space of Tenant's Premises over the total floor space of the building consisting of square feet of floor space, and multiplying such fraction times all Operating Expenses incurred by Landlord each year.
    Tenant shall pay to Landlord a Security Deposit in the amount of $.
    Should a Tenant's rent payment to the Landlord be returned for insufficient funds, the Tenant shall be liable to the Landlord for $ as a penalty.
    Should a Tenants rent payment to the Landlord be __________ late, the Tenant shall be liable to the Landlord for $ as a penalty.
  6. Assignment and Subleasing
    The Tenant shall not assign this Agreement, or sublease or grant any license to use the Premises or any part thereof without the prior written consent of the Landlord. Consent by the Landlord to one such assignment, subleasing or license shall not be deemed to be a consent to any subsequent assignment, sublease or license. Any assignment, sublease or license without the prior written consent of the Landlord or an assignment or subleasing by operation of law shall be absolutely null and void and shall, at the Landlord option, terminate this Agreement.
  7. Improvements and Repairs
    Tenant shall make no alterations or improvements to the Premises without first obtaining the express written consent of Landlord. The Landlord shall also be solely responsible for repairs or improvements to the structure and to the exterior of the building.
  8. Insurance
    If the Premises or any other part of the Building is damaged by fire or other casualty resulting from any act or negligence of Tenant or any of Tenant's agents, employees or invitees, rent shall not be diminished or abated while such damages are under repair, and Tenant shall be responsible for the costs of repair not covered by insurance.
    Landlord shall maintain fire and extended coverage insurance on the Building and the Premises in such amounts as Landlord shall deem appropriate. Tenant shall be responsible, at its expense, for fire and extended coverage insurance on all of its personal property, including removable trade fixtures, located in the Premises.
    Tenant and Landlord shall, each at its own expense, maintain a policy or policies of comprehensive general liability insurance with respect to the respective activities of each in the Building with the premiums thereon fully paid on or before due date, issued by and binding upon some insurance company approved by Landlord, such insurance to afford minimum protection of not less than $1,000,000 combined single limit coverage of bodily injury, property damage or combination thereof. Landlord shall not be required to maintain insurance against thefts within the Premises or the Building.
  9. Utilities
    Tenant shall be solely liable for utility charges as they become due, including those for water, sewer, gas, electricity, telephone and other services and utilities used by Tenant on the Premises during the term of this Lease Agreement unless otherwise expressly agreed in writing by Landlord.
  10. Signs
    Tenant shall not affix any sign, advertisement or notice without the prior written consent of Landlord, which consent shall not be unreasonably withheld or delayed. Landlord may refuse consent to any proposed signage that is in Landlord's opinion too inconsistent with or inappropriate to the Premises or use of any other Tenant. Tenant shall repair all damage to the Premises resulting from the removal of signs installed by Tenant.
  11. Building Rules
    Tenant will comply with the rules of the Building adopted by Landlord and will cause all of its agents, employees, invitees and visitors to do so; all changes to Building rules will be sent by Landlord to Tenant in writing. The initial rules for the Building are attached hereto as Exhibit "A" and incorporated herein for all purposes.
  12. Termination
    Landlord may terminate this lease for any one of the following or any other cause permitted by law:
    1. arrears of rent or additional rent
    2. the bankruptcy or insolvency of the Tenant
    3. substantial damage to or destruction of the Premises
    4. any significant willful or negligent damage to the Premises caused by the Tenant or by persons permitted on the Premises by the Tenant
    5. a material change in the use of the Premises by the Tenant in particular (without limiting the generality of this provision), any change that affects the Landlord's building insurance or that constitutes a nuisance
    6. any unauthorized assignment or subletting of this lease by the Tenant
    7. any sale or material change in use of the building in which the Premises are located by the Landlord

  13. Surrender of Premises
    At the expiration of the Agreement, the Tenant shall immediately surrender the Premises in the same condition as at the start of the Agreement, reasonable use and wear thereof and damages by the elements excepted; and the Tenant shall return to the Landlord a complete set of keys to the Premises and provide the Landlord in writing, the Tenant's forwarding address. The Landlord may, in the Landlord's sole discretion, elect to keep any of the Tenant's improvements, alterations, or fixtures.
  14. Headings
    Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement.
  15. Governing Law
    This Lease is governed by the statutory and case law of the Province of . The parties hereby indicate by their signatures below that they have read and agree with the terms and conditions of this Agreement in its entirety.
Executed this ____ day o ______________, _________.
Signed, sealed, and delivered in the presence of:
Signature: _________________________________
Signature: _________________________________