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Document Id : 5789
File Type : Microsoft Word
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Arizona Commercial Triple Net Lease Agreement
Lease office, retail or other business premises to a tenant with this Arizona Commercial Triple Net Lease Agreement.
- Triple Net Lease. A triple net lease means that the lessee covers all costs and expenses to do with the premises including structural repairs.
- Renewal. The lessee has an option to renew the lease for an additional term.
- Taxes and Charges. The lessee will pay all expenses, taxes, levies, and charges with respect to the premises, all utilities and services, and operating expenses for its business.
- Insurance. The lessee is responsible for carrying fire, extended coverage, and liability insurance.
- Alterations and Repairs. The lessee is responsible for all alterations, improvements, maintenance and repairs.
- Damage or Destruction. Clauses outlining abatement of rent or termination of the lease the event of damage, destruction, or condemnation of the building.
- Subordination. The lessee agrees to sign a subordination agreement or other documents necessary to subordinate the lease to a mortgage or other charge, if required by the lessor.
- Additional Rent. Optional clause for percentage rent to be paid in addition to the base rent, if applicable.
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