Land Lease Agreement - Free Legal Template
This Land Lease Agreement outlines the terms and conditions for leasing a parcel of land between a Lessor (landlord) and a Lessee (tenant). It covers essential aspects such as the lease term, rent payments, permitted land use, maintenance responsibilities, insurance requirements, and conditions for termination and default. The agreement also includes clauses for assignment, indemnification, and governing law.
LAND LEASE AGREEMENT
This Lease Agreement (hereinafter referred to as the "Agreement") is made and effective [effective date] (the “Effective Date”),
BY AND BETWEEN: | [landlord name] with an address of [landlord address], hereinafter referred to as the “Lessor”. |
AND: | [tenant name], with an address of [tenant address], hereinafter referred to as the “Lessee”, collectively referred to as the “Parties”. |
LEASED PREMISES
Lessor agrees to lease to Lessee, and Lessee agrees to lease from Lessor, for the term and upon the conditions set forth herein, the land described as follows:
________________________________________________________________________________________________________________________________________________________________________________________________________________________________.
TERM
This Lease begins on [start name] and ends on [end date]. The term is for [years/month].
RENT
Lessee will pay Lessor [currency] monthly, due the first day of each month.
USE OF LAND
The Lessee may only use the land for: [description]. Prohibited activities include: [description].
MAINTENANCE
Lessee shall keep the land, including any improvements, in good condition. This includes, but is not limited to, [description].
INSURANCE
Lessee shall procure liability insurance with a minimum limit of [liability insurance], naming Lessor as an additional insured. Proof must be given to Lessor before lease commencement and upon renewal.
ASSIGNMENT & SUBLETTING
Lessee may not assign this Lease or sublet the land without Lessor's written consent.
TERMINATION
Upon breach of this Agreement by either Party, the other may terminate after giving [days of notice] days written notice.
INDEMNIFICATION
Lessee will indemnify Lessor against claims resulting from Lessee's use of the land, excluding claims arising from Lessor's own negligence.
GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of [governing law]. Any legal action arising out of or relating to this Agreement shall be brought in the appropriate courts of [governing law].
AMENDMENTS
Changes to this Agreement are valid only if written and signed by both Parties.
ENTIRE AGREEMENT
This Agreement constitutes the complete understanding of the Parties and supersedes all prior discussions or agreements.
NOTICES
Notices should be in writing and can be personally delivered or mailed to the addresses given above or any new address provided in writing.
SECURITY DEPOSIT (Optional)
A security deposit of [currency] is due upon signing, returnable upon lease termination, minus any deductions for repairs or unpaid rent.
DEFAULT
If rent is more than [days] days late, or if Lessee violates any term, it's considered a default. Lessor can then take any action allowed by law to recover damages, unpaid rent, and to evict Lessee.
IN WITNESS WHEREOF, the parties hereto have executed this Lease Agreement as of the date first above written.
LESSOR | LESSEE |
[signature] | [signature] |
[print name] | [print name] |
[date of signature] | [date of signature] |
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