Texas Commercial Lease Agreement is a legal document governing the lease transaction of a commercial property within the Texas State. This 20 page document template comprises of directives of using the property within the allotted leased period.
Furthermore, it provides the code of conduct for both the lessor and the lessee under various situations and conditions. Texas Commercial Lease Agreement has 20 articles and subsections. Reading and understanding them prior to signing and entering into an agreement is very necessary. The lease agreement is a legal document and it is binding on both the signing parties, although notarization of the document from the Notary Public of Texas State is not necessary.
Begin by writing the date of enforcement of the lease agreement followed by name and the address of the landlord as well as tenant in the spaces provided respectively. Filling these details is a platform for defining the roles of the respective parties.
Type the date of natural termination of the lease agreement in Article II, Lease Term. Mention the date of commencement of the business of the tenant in the said premises.
Section 1, Rent Sheet of Article IV of the lease agreement has space for mentioning the schedule for the monthly rent. Furnish details under From, To, and Monthly Base Rent as applicable.
Type the amount of security deposit in the words and figure in Article V, Security Deposit. This security deposit is conditionally refundable.
- Signatures of the landlord and tenant are obligatory on every page of the lease agreement.
- Date of commencement of tenant’s business in the said property is no longer than 60 days from the date of execution.
- Exhibit A, Legal Description describes the property and the subject of the lease agreement.
- Exhibit B, Tenant Plans and Specifications has space for mentioning the construction and/or improvement plans by tenant. The landlord requires approving them upon discussing them with the tenant.
- Remittance of rent delayed preceding the fifth day of the month, attracts $50 late payment fee.