When operating a gas station, one of the most important documents you will need is a lease agreement. This contract outlines the terms of the relationship between the gas station owner and the tenant who will be operating it.
If you`re not sure where to start when drafting your lease agreement, here is a sample one that you can use as a guide.
Gas Station Lease Agreement
This lease agreement (“Agreement”) is entered into on [date] by and between [Owner Name] (“Owner”), whose address is [Owner Address], and [Tenant Name] (“Tenant”), whose address is [Tenant Address].
1. Lease Term
The lease term will begin on [start date] and will end on [end date]. The lease term may be extended by mutual agreement between Owner and Tenant.
2. Rent
Tenant agrees to pay Owner a monthly rent of [rent amount], payable on the [rent due date] of each month. Rent payments must be made to Owner`s address listed above.
3. Use of Premises
Tenant shall use the Premises exclusively for the operation of a gas station business. Tenant shall not use the Premises for any other purpose without the prior written consent of Owner.
4. Maintenance
Tenant shall maintain the Premises and all equipment and fixtures in good condition and reasonable repair, ordinary wear and tear excepted. Tenant is responsible for the cost of all repairs and maintenance to the Premises and equipment unless otherwise agreed upon in writing by Owner.
5. Utilities
Tenant shall pay all utility charges and other expenses necessary for the operation of the gas station business conducted on the Premises.
6. Compliance with Law
Tenant shall comply with all applicable laws, ordinances, and regulations relating to the operation of a gas station business.
7. Insurance
Tenant shall maintain insurance coverage for all liability and property damage that may arise from the operation of the gas station business conducted on the Premises. Owner shall be named as an additional insured on all policies of insurance.
8. Assignment or Subletting
Tenant shall not assign or sublet the Premises or any part of the Premises without the prior written consent of Owner.
9. Default
If Tenant fails to comply with any of the terms of this Agreement, Owner may terminate the lease by giving Tenant written notice of the default and allowing Tenant a reasonable amount of time to cure the default. If Tenant fails to cure the default within the time specified in the notice, Owner may immediately terminate the lease.
10. Notices
All notices required or permitted under this Agreement shall be in writing and shall be delivered by certified mail, return receipt requested, to the address of the respective party set forth in this Agreement, or to such other address as either party may from time to time designate in writing.
11. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State Name].
12. Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.
In conclusion, a lease agreement is a crucial document that should be carefully drafted to avoid any future disputes and misunderstandings. Make sure to consult with your legal team to ensure that your lease agreement complies with all applicable laws and regulations.