Commercial Parking Agreement
Purpose
This Commercial Parking Agreement ("Agreement") is made and entered into by and between the parties identified below for the purpose of defining the terms and conditions under which parking spaces will be leased for commercial use.
Parties
Lessor: BinarYogi
Address: Santa Ana, CA 92701
Lessee: Blitzcraft
Address: Glendale, CA 91201
Term
The term of this Agreement shall commence on April 8, 2055 and shall continue until March 9, 2056, unless terminated earlier in accordance with the provisions of this Agreement.
Parking Space Lease
Lessor agrees to lease to Lessee, and Lessee agrees to lease from Lessor, the parking spaces located at Santa Ana, CA 92701. The specific spaces to be leased are detailed as follows: beside a yellow building with parking space number 1021.
Rent
Lessee agrees to pay Lessor as rent for the parking spaces the sum of $1000 per month, payable in advance on the first day of each month.
Use of Parking Spaces
The parking spaces shall be used solely for the purpose of parking vehicles by the Lessee and its employees, customers, or visitors. Lessee shall not use, or permit the use of, the parking spaces for any other purpose without prior written consent of the Lessor.
Maintenance and Repairs
Lessee shall notify Lessor of any damage or need for repairs immediately. Lessor shall maintain the parking spaces in a serviceable condition.
Insurance
Lessee shall obtain and maintain at its own expense, during the term of this Agreement, general liability insurance with limits of not less than $[Limit] per occurrence. Lessor shall be named as an additional insured in all such policies.
Indemnification
Lessee agrees to indemnify and hold harmless Lessor from any claim, cost, or expense arising out of the use or occupancy of the parking spaces by Lessee or its employees, customers, or visitors.
Termination
This Agreement may be terminated by either party upon [Notice Period] written notice to the other party.
Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of California.
Entire Agreement
This Agreement constitutes the entire agreement between the parties relating to the subject matter hereof and supersedes any prior agreements or understandings.
Signatures
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
BinarYogi
Blitzcraft
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