Printable Board Resolution for Lease Agreement
I. Introduction
This Printable Board Resolution for Lease Agreement serves as a formal record of the decision made by the board of directors of [YOUR COMPANY NAME] regarding the approval of a lease agreement. The purpose of this resolution is to authorize the designated individual(s) to sign the lease on behalf of the company, ensuring compliance with internal policies and legal requirements.
II. Board of Directors Meeting
A meeting of the board of directors of [YOUR COMPANY NAME] was held on February 15, 2050, at the company’s principal office located at [YOUR COMPANY ADDRESS]. The meeting was convened to discuss the lease agreement for office space located at Raleigh, NC 27601.
III. Resolution Approval
The following resolution was proposed and approved by the board of directors:
RESOLVED, that [YOUR COMPANY NAME] is hereby authorized to enter into a lease agreement with Garfield Williams for the property located at Raleigh, NC 27601, for a term of [X] years starting from March 1, 2050. The lease will include the following terms:
Term | Details |
|---|
Lease Start Date | March 1, 2050 |
Lease End Date | February 28, 2055 |
Rent Amount | $12,000 per month |
Security Deposit | $24,000 |
Renewal Option | Yes, for 2 additional years |
Maintenance Responsibility | Tenant |
IV. Authorization of Signing
The board has agreed that the following individuals are authorized to sign and execute the lease agreement on behalf of [YOUR COMPANY NAME]:
Jeremy Marvin, Chief Executive Officer
Ernesto Murphy, Chief Financial Officer
Ena Cassin, Chief Operating Officer
These individuals are authorized to negotiate, sign, and finalize the lease terms with Garfield Williams or their authorized representatives.
V. Financial Considerations and Terms
The board of directors reviewed and discussed the financial implications of the lease agreement, including the monthly rent payments, the security deposit, and any other associated costs. It was confirmed that the lease agreement complies with the company's budget and financial planning for the fiscal year 2050.
RESOLVED, that the lease agreement shall be executed in accordance with the following financial provisions:
Monthly Rent Payment: $12,000
Total Lease Term: 5 years
Security Deposit: $24,000
Other Costs: Any applicable maintenance fees or property-related costs as outlined in the lease agreement.
VI. Lease Renewal Terms
The lease agreement includes a renewal option at the end of the initial term, which can be exercised by [YOUR COMPANY NAME] under the following conditions:
Renewal Period: 2 additional years
Notice Period for Renewal: At least 6 months before the lease term ends.
Adjustment of Rent: Rent may be adjusted annually based on market rates, as specified in the lease agreement.
VII. Conclusion
The board has fully reviewed and approved the terms and conditions of the lease agreement with Garfield Williams for the property located at Raleigh, NC 27601. The authorized individuals will proceed with the necessary steps to execute the agreement and fulfill the terms outlined in this resolution.
VIII. Signatures
This resolution is hereby adopted by the board of directors of [YOUR COMPANY NAME] as of February 15, 2050.
Ena Cassin, Chairman of the Board
Date: February 15, 2050
Jeremy Marvin, Chief Executive Officer
Date: February 15, 2050
This document reflects the board's decision to approve and authorize the lease agreement, ensuring all necessary steps are followed for execution and compliance with corporate policies.
Agreement Templates @ Template.net
