Commercial Rental Agreement Letter
Commercial Rental Agreement Letter
[Your Name]
[Your Company Name]
[Your Company Address]
[Your Company Email]
[Your Company Number]
September 14, 2051
NexField Corporation
4247 Jarvis Street
Buffalo, NY, 10021
Subject: Commercial Rental Agreement for 9876 Quasar Road
Dear NexField Coproration,
We are pleased to confirm the terms and conditions of the commercial rental agreement between [Your Company Name] ("Landlord") and NexField Corporation ("Tenant") for the premises located at 4247 Jarvis Street Buffalo, NY, 10021 ("Premises"). This letter outlines the key terms of the rental agreement, effective October 1, 2051.
1. Lease Term:
The lease will commence on October 1, 2051, and continue for a period of five (5) years, ending on September 30, 2056. The lease may be renewed or extended upon mutual agreement.
2. Rent:
The monthly rent for the Premises will be $10,000, payable on the first day of each month. The rent shall be paid to the Landlord via electronic funds transfer to the account provided by the Landlord.
3. Security Deposit:
A security deposit of $20,000 will be required before the commencement of the lease. This deposit will be held by the Landlord and returned upon the termination of the lease, subject to any deductions for damages or unpaid rent.
4. Use of Premises:
The Premises shall be used solely for technology consulting and software development. Any other use must be approved in writing by the Landlord.
5. Maintenance and Repairs:
The Tenant is responsible for maintaining the Premises in good condition, including all repairs and maintenance related to the interior. The Landlord will be responsible for structural repairs and maintenance of common areas.
6. Insurance:
The Tenant is required to maintain general liability insurance for the Premises with a minimum coverage of $1,000,000 per occurrence. A copy of the insurance policy must be provided to the Landlord by the lease start date.
7. Termination:
Either party may terminate this agreement with ninety (90) days' written notice. In the event of early termination by the Tenant, the security deposit may be forfeited.
8. Governing Law:
This agreement shall be governed by the laws of the State of New York.
Please review the terms outlined above and let us know if you have any questions or require any modifications. If the terms are agreeable, kindly sign and return a copy of this letter by September 25, 2051.
We look forward to a successful and mutually beneficial relationship.
Sincerely,
[Your Name]
Property Manager
[Your Company Name]