Gym Lease Contract
Gym Lease Contract
This Gym Lease Contract (the "Contract") is made and entered into as of [Date], by and between [Your Company Name] ("Landlord"), who operates a Gym Business, and [Tenant's Name] ("Tenant").
Recitals
WHEREAS, the Landlord is the owner of a Gym premises located at [Your Company Address] (the "Premises"); and
WHEREAS, Tenant desires to lease the Premises from Landlord for the purpose of operating a food stall within the gym under the terms and conditions set forth in this Contract.
NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the parties hereto agree as follows:
1. Lease Term
1.1 Commencement Date: The lease term shall commence on [Start Date] ("Commencement Date").
1.2 Duration: The lease term shall continue for a period of [Number of Years] years, ending on [End Date], unless sooner terminated in accordance with the provisions of this Contract.
1.3 Renewal Option: Tenant shall have the option to renew this lease for an additional term of [Number of Years] years, upon providing written notice to Landlord at least [Number of Days] days prior to the expiration of the initial lease term. The renewal shall be on the same terms and conditions as this Contract, except for rent, which shall be adjusted as per section 3.4.
2. Rent
2.1 Base Rent: Tenant agrees to pay Landlord a base rent of $[Monthly Rent Amount] per month ("Base Rent"), payable in advance on the first day of each calendar month.
2.2 Payment Method: All rent payments shall be made by [Payment Method] to [Payment Address or Account Details].
2.3 Late Fees: If Tenant fails to pay any installment of Base Rent within [Number of Days] days after the due date, Tenant shall pay a late fee of $[Late Fee Amount] in addition to the overdue rent.
2.4 Rent Adjustments: The Base Rent shall be subject to annual adjustments based on the Consumer Price Index (CPI) or a [Percentage]% increase, whichever is higher. Adjustments shall be made on the anniversary of the Commencement Date each year.
3. Security Deposit
3.1 Deposit Amount: Upon execution of this Contract, Tenant shall deposit with Landlord the sum of $[Deposit Amount] as a security deposit ("Security Deposit").
3.2 Use of Deposit: Landlord may use, apply, or retain the whole or any part of the Security Deposit for the payment of any rent or other sums due to Landlord, or to reimburse Landlord for any damages to the Premises, reasonable wear and tear excepted.
3.3 Refund: The Security Deposit, or any remaining balance thereof, shall be refunded to Tenant within [Number of Days] days after the termination of this lease, provided that Tenant has fulfilled all obligations under this Contract and returned the Premises in good condition.
4. Use of Premises
4.1 Permitted Use: The Premises shall be used solely for the operation of a food stall including but not limited to the offering related retail sales.
4.2 Compliance with Laws: Tenant shall comply with all applicable federal, state, and local laws, regulations, and ordinances in its use of the Premises.
4.3 Alterations: Tenant shall not make any alterations, additions, or improvements to the Premises without the prior written consent of Landlord. Any approved alterations shall be made at Tenant's expense and shall become the property of Landlord upon termination of the lease.
5. Maintenance and Repairs
5.1 Landlord's Responsibilities: Landlord shall be responsible for maintaining the structural integrity of the building, including the roof, exterior walls, and foundation.
5.2 Tenant's Responsibilities: Tenant shall, at its own expense, maintain the interior of the Premises in good order and repair, including but not limited to plumbing, electrical, and HVAC systems.
5.3 Damage and Destruction: In the event the Premises are damaged by fire, earthquake, or other casualty, Landlord shall repair the damage at its expense, provided Tenant's negligence does not cause the damage. If the damage renders the Premises untenantable, rent shall abate in proportion to the portion of the Premises that is unusable until repairs are completed.
6. Insurance
6.1 Tenant's Insurance: Tenant shall maintain, at its own expense, commercial general liability insurance with limits of not less than $[Liability Coverage Amount] per occurrence and $[Aggregate Coverage Amount] in the aggregate. Tenant shall also maintain property insurance covering Tenant's personal property and any improvements made by Tenant to the Premises.
6.2 Landlord's Insurance: Landlord shall maintain, at its own expense, insurance covering the building and common areas.
6.3 Waiver of Subrogation: Both parties hereby waive any right of subrogation against the other for any loss or damage to the extent such loss or damage is covered by insurance maintained by the waiving party.
7. Indemnification
7.1 Tenant's Indemnity: Tenant agrees to indemnify, defend, and hold harmless Landlord from and against any and all claims, liabilities, damages, costs, and expenses, including reasonable attorneys' fees, arising out of or related to Tenant's use or occupancy of the Premises, except to the extent caused by Landlord's negligence or willful misconduct.
7.2 Landlord's Indemnity: Landlord agrees to indemnify, defend, and hold harmless Tenant from and against any and all claims, liabilities, damages, costs, and expenses, including reasonable attorneys' fees, arising out of or related to Landlord's ownership, maintenance, or repair of the Premises, except to the extent caused by Tenant's negligence or willful misconduct.
8. Default and Remedies
8.1 Events of Default: The following shall constitute events of default under this Contract:
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Tenant fails to pay any rent or other sum due hereunder within [Number of Days] days after the due date;
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Tenant fails to comply with any term or condition of this Contract and such failure continues for [Number of Days] days after written notice from Landlord;
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Tenant becomes insolvent or bankrupt, or files a petition for bankruptcy or reorganization.
8.2 Landlord's Remedies: In the event of Tenant's default, Landlord may, at its option, terminate this lease and take possession of the Premises, or pursue any other remedy available at law or in equity.
9. Assignment and Subletting
9.1 Assignment: Tenant shall not assign this lease or any interest herein without the prior written consent of Landlord, which consent shall not be unreasonably withheld.
9.2 Subletting: Tenant shall not sublet the Premises or any part thereof without the prior written consent of Landlord, which consent shall not be unreasonably withheld.
10. Notices
10.1 Notice Requirements: All notices required or permitted under this Contract shall be in writing and shall be deemed given when delivered personally, sent by registered or certified mail, return receipt requested, or by overnight courier, to the addresses set forth below or such other addresses as the parties may designate in writing.
Landlord:
[Your Company Name]
[Your Company Address]
Tenant:
[Tenant's Name]
[Tenant's Main Address]
11. Miscellaneous
11.1 Governing Law: This Contract shall be governed by and construed in accordance with the laws of the State of [State].
11.2 Entire Agreement: This Contract constitutes the entire agreement between the parties and supersedes all prior agreements, representations, and understandings, whether written or oral.
11.3 Amendments: This Contract may be amended or modified only by a written instrument signed by both parties.
11.4 Severability: If any provision of this Contract is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
11.5 Waiver: The failure of either party to enforce any provision of this Contract shall not be deemed a waiver of such provision or of the right to enforce it at a later time.
11.6 Binding Effect: This Contract shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, and assigns.
IN WITNESS WHEREOF, the parties hereto have executed this Gym Lease Contract as of the day and year first above written.
[Your Company Name]
[Authorized Representative Name]
[Job Title]
[Tenant's Name]
[Authorized Representative Name]
[Job Title]
