South Dakota Commercial Lease Agreement

Lease office, retail or other business premises to a tenant with this South Dakota Commercial Triple Net Lease Agreement.

A triple net lease means that the lessee covers all costs and expenses to do with the premises including structural repairs. The landlord benefits because the tenant is responsible for all expenses related to the property. The tenant benefits from lower rents and from more control over property-related expenses.

Key Provisions of Lease

• Renewal. The lessee has an option to renew the lease for an additional term.
• Responsibility for Taxes and Costs. 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.
• Repairs and Maintenance.The lessee is responsible for all alterations, improvements, maintenance and repairs.
• Additional Rent. Optional clause for percentage rent to be paid in addition to the base rent, if applicable.

Damage or Destruction

The lease contains provisions outlining the steps for abatement of rent or termination of the lease in the event of substantial 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.

Format and Legal Jurisdiction

This legal form template is available in MS Word format and is fully editable to fit your needs. It is intended to be used only in the State of South Dakota.

• The guaranty is given by a principal of the company, such as a shareholder, partner, sole proprietor or some other person with a financial interest in the tenant.
• A guarantee of this type is typically required as an inducement to the lessor ⁄ landlord to sign the lease.
• The guarantor guarantees payment of all rent and other amounts due under the lease, including the payment of legal fees incurred by the landlord in enforcing the terms of the lease.

Cancel a lease of office or retail premises with this South Dakota Mutual Cancellation of Commercial Lease form.

• This agreement is only for commercial tenancies. Use this form for residential tenants.
• The lessor (landlord) and lessee (tenant) mutually agree that the lease will terminate as of a specific date.
• All rights and obligations of the parties under the lease are extinguished, except for those which accrue prior to the termination date.
• Available in MS Word format.
• Intended to be used only in the State of South Dakota.