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Massachusetts Commercial Lease Agreement


Massachusetts Commercial Lease Agreement
Massachusetts Commercial Lease Agreement
STANDARD FORM COMMERCIAL LEASE
This "Lease" is made this day of , , by and between
, a(n) [describe entity]
("Landlord") and , a(n)
[describe entity] ("Tenant"). Pursuant to the terms of this Lease, Landlord agrees to lease the Premises (hereinafter
defined) to Tenant and Tenant agrees to lease the Premises from Landlord on the terms set forth.
1. Premises. The "Premises" shall mean
, including the right to use the
hallways, stairs, and elevators, for access to and egress from said Premises and nearest rest rooms, in common with all
others.
2. Term. The "Term" of this Lease shall be for the period of
[insert
# of months or years], commencing on ,
(the "Commencement Date") and
ending on , (the "Termination Date").
3. Rent. The "Rent" for the Premises for the Term of the Lease is
dollars ($ ), payable in monthly installments
of dollars
($ ) which is due, in advance, on the day of each calendar month. Rent shall be paid to
. In addition, Rent that is not received by Landlord
within fourteen (14) days of the due date shall accrue interest at the rate of one and one half percent (1½%) per month for
each month, or part thereof, that Rent remains unpaid from the due date. Tenant's agreement to pay Rent is independent of
every other agreement in this Lease.
Adjustments To Rent. Tenant agrees to pay a Pro Rata Share, as defined below, of the amount, if any, by which the
Landlord's Expenses, as defined below, for each calendar year during the Term increases above the expenses for the Base
Year, as defined below, ("Expense Increase") plus the amount, if any, by which Taxes, as defined below, for each calendar
year during the Term exceeds the Taxes for the Base Year ("Tax Increase"). If the Expenses or Taxes in any calendar year
decrease below the amount for the Base Year, Tenant's Pro Rata Share of Expenses or Taxes, as the case may be, for that
calendar year shall be $0. Landlord shall provide Tenant with an estimate of the Expense Increase and of the Tax Increase
for each calendar year during the Term in good faith. On the date Rent is due each month, Tenant shall pay Landlord a
monthly installment equal to one-twelfth of Tenant's Pro Rata Share of Landlord's estimate of both the Expense Increase
and Tax Increase. If Landlord does not provide Tenant with an estimate of the Expense Increase or the Tax Increase by the
end of the first business day of a calendar year, Tenant shall continue to pay monthly installments based on the previous
year's estimate(s) until Landlord provides Tenant with the new estimate. As soon as practicable after the end of a calendar
year, Landlord shall furnish Tenant with a statement of the actual Expenses and Expense Increase and the actual Taxes and
Tax Increase for the prior calendar year. Landlord shall apply any overpayment by Tenant against Rent due or next
becoming due, provided if the Term expires before the determination of the overpayment, Landlord shall refund any
overpayment to Tenant after first deducting the amount of Rent due. If the estimated Expense Increase or estimated Tax
Increase for the prior calendar year is less than the actual Expense Increase or actual Tax Increase, as the case may be, for
such prior year, Tenant shall pay Landlord, within thirty (30) days after its receipt of the statement of Expenses or Taxes,
any underpayment for the prior calendar year.
Within one hundred eighty (180) days after receiving Landlord's statement of Expenses, Tenant may give Landlord written
notice that Tenant intends to review Landlord's records of the Expenses for the calendar year to which the statement
applies. Landlord shall make available all relevant records that are reasonably necessary for Tenant's review, within a
reasonable time. Tenant shall be solely responsible for all costs, expenses and fees for the review. Within ninety (90) days
after the records are made available to Tenant, Tenant shall have the right to give Landlord written notice identifying
Massachusetts Commercial Lease Agreement
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