Commercial Tenancy Agreement

This Commercial Tenancy Agreement ("Agreement") is made and entered into on [Date], by and between [Your Name], a company organized and existing under the laws of [State/Country], with its principal place of business located at [Your Company Address], hereinafter referred to as the "Landlord", and [Client's Name], a company organized and existing under the laws of [State/Country], with its principal place of business located at [Client's Address], hereinafter referred to as the "Tenant".

1. Premises

1.1 The Landlord, as the legal owner of the said premises, enters into this agreement with the intent of officially leasing out the mentioned premises to the Tenant. In turn, the Tenant also enters into this agreement with the understanding of signing up to lease the mentioned premises from the Landlord. The specific property to be leased under this agreement is henceforth referenced as the "Premises".

Description of Premises: The property is located at 123 Main Street, Unit 1A, Anytown, USA, consisting of approximately 1,500 square feet of commercial space on the ground floor.
Use of Premises: The Premises shall be used solely for the operation of a retail clothing store.

2. Lease Term

2.1 The term of the lease, as stipulated in this document, is set to begin its validity on the date of the 15th day of April 2055. As per the conditions specified in this Agreement, the determined period for which the lease will remain fixed is three years. However, it is important to note that the duration of the lease may potentially be cut short and brought to a factitious conclusion in advance of the pre-agreed end date, should the terms and conditions laid out within the confines of this Agreement dictate such early termination is required.

3. Rent

3.1 The individual who has signed the agreement as the Tenant is required to transfer a sum of Two Thousand Five Hundred Dollars ($2,500) as rent to the person or entity named as the Landlord. This amount is not negotiable and has been agreed upon by both parties. This payment must be made in advance, specifically by or on the 1st day of each respective month, as defined in the terms of the agreed lease. It's crucial to note that the delivery of this decided payment is not contingent on the end or completion of the month, but instead on its commencement.

4. Security Deposit

4.1 Upon the execution or signing of this Agreement, the Tenant is mandated to deposit with the Landlord. The deposit requires a sum of Three Thousand dollars ($3,000) to be paid. The purpose of this deposit is to serve as a form of security for the Landlord, ensuring the faithful or accurate performance of the Tenant's obligations and duties as outlined in this Agreement.

5. Maintenance and Repairs

5.1 The duties and responsibilities of the Landlord, as agreed upon, have hereby included the obligation to manage and attend to the maintenance needs and repair requirements for the structural components of the Premises. As outlined, this includes but is not limited to the obvious foundational elements of the foundation itself, as well as the roofing structure, and of course, the external walls of the Premises that all of these components are encompassed within. The Landlord is seen as the individual who is held accountable for ensuring these elements are kept in good repair and functioning properly.

5.2 The party referred to as The Tenant holds the responsibility for upholding the good condition of the interior part of the Premises. This responsibility includes but is not limited to, conducting maintenance tasks on a regular and routine basis, handling repairs as and when needed, taking care of the plumbing fixtures located within the Premises to ensure they are in working order, and looking after the electrical systems. The Tenant is required to ensure that all these aspects are properly and suitably maintained.

6. Insurance

6.1 The individual who is leasing, otherwise referred to as the Tenant, is required to secure and uphold comprehensive general liability insurance coverage. The terms of this insurance policy should stipulate coverage limits wherein the minimum requirement is not lower than One Million dollars ($1,000,000) for each distinct incident or occurrence. Furthermore, the collective or combined total coverage also referred to as the aggregate, should be no less than Two Million dollars ($2,000,000).

7. Termination

7.1 This Agreement may be terminated by either party involved. Termination can be enacted for any reason, or indeed for no reason at all. A written notice must be given to the other party involved in the Agreement, and this notice must be provided at least 30 days before the intended termination date.

8. Governing Law

8.1 This Agreement shall be governed by and construed under the laws of [State/Country].

IN WITNESS WHEREOF, the parties hereto have executed this Commercial Tenancy Agreement as of the date first above written.

[Your Name] (Landlord)

[Date Signed]

[Client's Name] (Tenant)

[Date Signed]