SELF RENEWING LEASE
In consideration of the covenants contained herein, a lease agreement is hereby made between ______________________________ (hereinafter referred to as Landlord) and ___________________________________ (hereinafter referred to as Tenant), and it is agreed between the parties as follows:
1. Landlord hereby leases and rents to Tenant the premises specifically described as follows: ______________________________________________________________
2. The term of this Lease Agreement shall be one (1) year, commencing on _________ and from year to year thereafter unless either party sends written notice electing to terminate the said Lease ________ days prior to the termination of Lease.
3. Tenant shall pay Landlord the annual rent of $ _____________ during said term, in monthly payments in the amount of $ ___________, each, payable in advance monthly.
4. Tenant shall at Tenants own expense provide the following utilities: ____________________________________________________________________
Landlord shall at Landlords own expense provide the following utilities: ____________________________________________________________________
5. Tenant further agrees that:
(a) Tenant shall commit no waste, damage, or abuse to the leased premises. Upon the expiration of the lease Tenant will turn over possession of the leased premises in its present condition, reasonable wear and tear excepted.
(b) Tenant shall not assign, sublet, or allow any other person to occupy the leased premises without Landlord's prior written consent.
(c) Tenant shall not make any material or structural alterations to the leased premises without Landlord's prior written consent. Throughout the duration of Lease, Tenant shall comply with all building, zoning and health codes and other applicable laws for said leased premises.
(d) Tenant shall not conduct a business deemed extra hazardous, a nuisance or requiring an increase in fire insurance premiums. Tenant warrants the leased premises shall be used only for the following purposes: ____________________________________________________________________ ____________________________________________________________________
(e) In the event of any breach of said Lease due to the nonpayment of rent or any other allowed charge or other breach of this Lease, Landlord retains full and complete rights to terminate this Lease in accordance with state law, reenter the leased premises, and claim possession of the leased premises. In addition, the Landlord retains full and complete rights to pursue all other remedies available to Landlord arising from said breach.
6. This Lease shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.
7. Additional Lease terms: ______________________________________________
Signed and sealed on this ______ day of ________________________.
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