Commercial Lease Agreement

I. Parties

I.I. Landlord: [YOUR NAME], a legal entity organized and existing under the laws of [Jurisdiction], with its principal place of business located at [YOUR COMPANY ADDRESS].

I.II. Tenant: [TENANT'S NAME], a legal entity organized and existing under the laws of [Jurisdiction], with its principal place of business located at [YOUR COMPANY ADDRESS].

II. Property

By this agreement, it is hereby stated that the landlord agrees and undertakes to lease out the property indicated below to the tenant. Simultaneously, the tenant agrees and undertakes to lease this specific property from the landlord. This transaction concerns the property which is situated at the following address: [Address of Property]. Hereafter, in this document, this property will be referred to as "the Property".

III. Term

III.I. Commencement Date: The commencement date of the term for this Lease will be on the 1st day of March in the year 2050.

III.II. Duration: The initial term period of this Lease agreement, which is signed on the Commencement Date, is agreed to be a total duration of 5 (five) years. Therefore, given the agreed length of time, the Lease should end on February 28, 2055. However, this term may come to an end earlier if the conditions or provisions contained in this agreement allow or necessitate termination before reaching the specified end date.

IV. Rent

IV.I. Amount: The individual who is the tenant has come to an agreement in which they will provide the landlord a payment, referred to as rent, for the property they are leasing. The agreed-upon amount for this rent is the sum of $3,500 each month. This payment is expected to be given in advance and the tenant should ideally hand the sum to the landlord on the 1st day of every month.

IV.II. Payment Method: The rent for the premises should be paid by either an electronic funds transfer, also known as EFT, or through a direct deposit method. These payments should be directly deposited into the bank account that has been specifically identified and designated by the Landlord. This bank account information will be provided to the tenant by the Landlord in a written format.

V. Permitted Use

V.I. Intended Use: The individual who holds tenancy, hereafter referred to as the Tenant, is expected and obligated to utilize the designated property in a manner that is exclusive to the purpose of retail. To be more precise, the Tenant is limited to conducting operations of a clothing boutique on the premises. The property can not be used for any other purpose or function that falls outside of this stipulated usage unless there is explicit consent from the Landlord.

V.II. Compliance: The tenant is required to adhere strictly to all applicable laws, regulations, ordinances, and rules that pertain to and are relevant to their utilization of the property.

VI. Maintenance and Repairs

VI.I. Tenant's Obligations: The tenant is obligated, at his or her financial responsibility, to ensure the maintenance of the property in good condition and make necessary repairs promptly. This includes fixing any damages and ensuring the replacement of anything that might be broken or worn out. However, the tenant is not required to cover damages that naturally occur due to normal use of the property over time, commonly referred to as 'ordinary wear and tear’.

VI.II. Landlord's Obligations: The individual who owns the property, referred to as the Landlord, shall accept responsibility and take necessary action to preserve and maintain the structural stability and integrity of the Property. Furthermore, they are expected to perform and complete any repairs, renovations, or rectification that the Property might need, all of which are encompassed to the extent that is required and enforced by the laws and regulations of the land.

VII. Utilities

VII.I. Payment: During the duration of this Lease agreement, it shall be the responsibility of the tenant to ensure payment for all utilities and services utilized on the Property. The utilities and services include, but are not limited to, the consumption of water, utilization of electricity, gas usage, and telecommunications services. The tenant's obligation to discharge these financial responsibilities is integral to fulfilling the tenets of this Lease agreement.

VIII. Insurance

VIII.I. Tenant's Insurance: The tenant is obligated to secure and continually uphold, at their expense, commercial general liability insurance. This insurance policy must carry a minimum coverage amount of one million dollars. Furthermore, the tenant must designate the landlord as an additional individual who is insured under this policy.

VIII.II. Landlord's Insurance: The individual or entity operating as the Landlord is obliged, under the terms of our agreement, to secure and consistently upkeep an insurance policy that is specifically related to the Property. This insurance policy should provide comprehensive coverage for the Property, protecting it from any potential losses or damages. The incidents that may lead to such losses or damages include but are not limited to, fire outbreaks and unfortunate events categorized as casualties.

IX. Assignment and Subletting

IX.I. Restrictions: The tenant is required not to assign, sublet, or in any other manner transfer their interest and rights in this Lease agreement without first obtaining the Landlord's written approval. Such consent from the landlord should not be unreasonably delayed, provided on the condition, or withheld.

X. Default

X.I. Events of Default: The events that are described in the subsequent sections will be considered as constituting a default or breach under the terms and conditions set out in this Lease:

a. Failure to pay rent when due,

b. Breach of any material term or provision of this Lease,

c. Abandonment of the Property, or

d. Filing of bankruptcy or insolvency proceedings by the Tenant.

X.II. Remedies: In the instance that an event of default transpires, it is within the rights of the Landlord to seek any legal solutions, either by statutory law or principles of fairness and justice. This could encapsulate a range of reactions, including but not limited to, bringing an end to the contractual agreement of this Lease or forcibly removing the Tenant from the property in a procedure commonly referred to as eviction.

XI. Indemnification

XI.I. Tenant's Indemnity: The tenant shall take responsibility for, provide a legal defense for, and ensure the landlord is not adversely affected financially by any situation that arises directly or indirectly from the tenant's use or occupancy of the property. This includes but is not limited to, any accusations, legal responsibilities, damages that require financial compensation, monetary losses, costs that may be incurred, and any other outgoings that are a consequence of situations related to the tenant's use or occupancy of the property.

XI.II. Landlord's Indemnity: The Landlord will assume the responsibility to indemnify, undertake the defense of, and ensure the Tenant retains no blame or damage against any lawsuits, obligations, damages, losses, costs, and fees that arise or are associated with the Landlord's lack of care, negligence, or intentional wrong behaviors.

XII. Miscellaneous

XII.I. Notices: In regards to this Lease, all notices or communications that need to be provided or are allowed to be given, shall be written down. The written notice or communication can either be delivered personally or sent to the concerned parties through certified mail with already paid postage. The addresses of the parties that have been provided in this Lease will be used for mailing these notices or communications.

XII.II. Governing Law: This Lease shall be governed by and construed by the laws of [Jurisdiction].

XII.III. Entire Agreement: This Lease is considered as the entire agreement between the involved parties, addressing all details about the subject matter as discussed within this Lease. It effectively overshadows and takes precedence over all forms of previous agreements and understandings, which may have been shared between the parties before this agreement. Whether these prior or contemporaneous agreements and understandings were communicated verbally or were in written form, this Lease takes utmost priority and nullifies their relevance concerning the subject matter.

IN WITNESS WHEREOF, the parties hereto have executed this Lease as of the date first above written.

[YOUR NAME]

[DATE SIGNED]

[TENANT'S NAME]

[DATE SIGNED]