This Lease Agreement ("Agreement") is made and entered into on this [Date], by and between [Your Company Name] ("Lessor"), with its principal place of business at [Your Company Address], and [Second Party] ("Lessee"), with its principal place of business at [Second Party Address].
WHEREAS, Lessor is the owner of the property located at [Property Address] ("Premises");
WHEREAS, Lessee desires to lease the Premises for the purpose of operating an educational institution;
NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the parties agree as follows:
A. "Premises": The property located at [Property Address] including all buildings, structures, and improvements.
B. "Lease Term": The period during which this Agreement is in effect, as specified in Section IV.
C. "Rent": The monetary amount payable by Lessee to Lessor as specified in Section VI.
Lessor hereby leases to Lessee, and Lessee leases from Lessor, the Premises described as follows:
A. Location: The property located at [Your Company Address].
B. Buildings and Structures:
A two-story main building comprising approximately 20,000 square feet, including:
C. Fixtures and Equipment:
D. Utilities: Access to all necessary utilities including electricity, water, gas, and internet connectivity.
E. Compliance: The Premises are in compliance with local building codes and safety regulations, including fire safety and accessibility standards.
The Lease Term shall commence on [Start Date] and shall expire on [End Date], unless sooner terminated in accordance with the provisions of this Agreement. Lessee shall have the option to renew the lease for [00] additional [00 days] periods under the same terms and conditions, provided that Lessee gives written notice to Lessor at least [00] days prior to the expiration of the current Lease Term.
Lessee agrees to pay Lessor as rent for the Premises the sum of $[00] per [month], payable in advance on the [00] day of each [month]. Payments shall be made to [Your Company Name] at [Payment Address] or at such other place as Lessor may designate in writing.
Upon execution of this Agreement, Lessee shall deposit with Lessor the sum of $[00] as a security deposit. The security deposit shall be held by Lessor as security for the performance of Lessee's obligations under this Agreement. The security deposit shall be refundable upon the termination of this Agreement, subject to deductions for any damages to the Premises or unpaid rent.
The Premises shall be used solely for the purpose of operating an educational institution and for no other purpose without the prior written consent of Lessor. Lessee shall not use or permit the Premises to be used for any unlawful purpose or in any manner that would void the insurance coverage or increase the insurance premiums on the Premises.
A. Lessor's Responsibilities: Lessor shall be responsible for maintaining the structural integrity of the Premises, including the roof, foundation, and exterior walls, as well as ensuring that the Premises are in compliance with all applicable building codes and regulations.
B. Lessee's Responsibilities: Lessee shall be responsible for the routine maintenance and repair of the interior of the Premises, including but not limited to, plumbing, electrical, HVAC systems, and any improvements made by Lessee.
Lessee shall not make any alterations, additions, or improvements to the Premises without the prior written consent of Lessor. Any approved alterations or improvements shall be made at Lessee's expense and shall become the property of Lessor upon the termination of this Agreement.
A. Lessor's Responsibilities: Lessor shall provide and pay for the following utilities and services:
B. Lessee's Responsibilities: Lessee shall provide and pay for all other utilities and services required for the operation of the educational institution, including but not limited to:
Lessee shall obtain and maintain during the Lease Term the following insurance coverage:
Lessee shall comply with all applicable local, state, and federal laws, ordinances, and regulations, including but not limited to health and safety regulations and educational institution standards.
A. By Lessor: Lessor may terminate this Agreement if Lessee fails to pay rent or otherwise breaches any material term of this Agreement, provided that Lessor gives Lessee written notice of such default and Lessee fails to cure the default within [00] days.
B. By Lessee: Lessee may terminate this Agreement if Lessor fails to perform any material obligation under this Agreement, provided that Lessee gives Lessor written notice of such default and Lessor fails to cure the default within [00] days.
Any dispute arising out of or relating to this Agreement shall be resolved through mediation. If mediation is unsuccessful, the dispute shall be resolved through binding arbitration in accordance with the rules of the [Arbitration Organization]. The arbitration shall be conducted in [State], and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.
A. Entire Agreement: This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter hereof.
B. Amendment: This Agreement may be amended only by a written instrument signed by both parties.
C. Severability: If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
D. Waivers: No waiver of any term or condition of this Agreement shall be valid unless in writing and signed by the party to be charged.
IN WITNESS WHEREOF, the parties hereto have executed this School Lease Agreement as of the day and year first above written.