Commercial Rental Agreement Letter
COMMERCIAL RENTAL AGREEMENT LETTER
September 14, 2051
Philip Mitchell
Commercial Representative
SteelEagle
Indianapolis, IN 46201
philip@you.mail
Dear Mr. Mitchell,
We are pleased to confirm the terms and conditions of the commercial rental agreement between [Your Name] ("Landlord") and Philip Mitchell ("Tenant") for the premises located in Indianapolis, IN 46201 ("Premises"). The rental agreement will be effective on October 1, 2051.
The lease will commence on October 1, 2051, and continue for five (5) years, ending on September 30, 2056. The monthly rent for the Premises will be $10,000, payable on the first day of each month via electronic funds transfer. A security deposit of $20,000 will be required before the lease begins, and it will be returned upon the lease termination, subject to any deductions for damages or unpaid rent.
The Premises will be used solely for technology consulting and software development, and any other use must be approved in writing. The Tenant is responsible for interior repairs and maintenance, while the Landlord will handle structural repairs and common area maintenance. The Tenant is required to maintain general liability insurance with a minimum coverage of $1,000,000 per occurrence and provide the Landlord with a copy of the policy by the lease start date.
Either party may terminate the agreement with ninety (90) days written notice. In the event of early termination by the Tenant, the security deposit may be forfeited. This agreement is governed by the laws of Indiana. Please review the terms and let us know if any modifications are needed. 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.
The Parties hereby agree to the terms and conditions outlined in this Agreement Letter and such is demonstrated by their signatures below:
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Tenant |
Landlord |
Philip Mitchell