An industrial lease agreement is a legal document that is drafted when a lessor gives his property on lease to a lessee for the purpose of industrial use. The agreement states the amount of rent the lessee needs to pay to the lessor and the other terms of the lease that both the parties need to agree to. This document acts as documentary evidence and helps to settle any issue arising between both the parties in the future.
Sample Industrial Lease Agreement
This agreement is made and entered into between Roger Moore referred to as the lessor and James Watt referred to as the lessee. The agreement is effective from 4th of June 2012.
As per the agreement the lessor will be giving his premise on lease to the lessee for industrial use.
Details of the premise:
Address: 89 Hilly Billy Road, Holly Wood Los Angeles 8956
Premise area: 2300 square feet
The terms and conditions that both parties need to agree are as follows:
The premise shall be used only for industrial use and should not be used for any other purpose by the lessee.
The term of the lease is for a period of two years and will expire on 3rd of June 2014.
The lessee needs to pay a monthly rent of $4000 to the lessor. The rent needs to be paid by 3rd of every month.
The lessee has to make a security deposit of $25000 with the lessor which will be refunded after the lease term is over.
The lessor agrees that the property insurance and other property taxes will be paid by him and the lessee will not be held responsible for it.
The lessee cannot sublet the premise to any other person.