NWT Renewal and Extension of Commercial Lease

NWT landlords, rent out office, retail or other business premises to a tenant with this customizable Northwest Territories Commercial Triple Net Lease Agreement.

• This is a triple net lease carefree to the landlord, which means that the tenant pays for everything to do with the premises including structural repairs.
• The tenant has an option to renew the lease for an additional term.
• The tenant will pay all expenses, taxes, levies, and charges against the premises, except for the landlord's income taxes.
• The tenant must carry fire and extended coverage insurance at all times.
• The tenant is responsible for all alterations, improvements, maintenance and repairs.
• Provisions for abatement of rent or termination of the lease if the building is substantially damaged, destroyed or condemned.
• The tenant accepts the lease subordinate to any mortgage or other lien registered against the property.