FREE Canadian Commercial Lease (long Form)

COMMERCIAL LEASE AGREEMENT (LONGFORM)

THIS COMMERCIAL LEASE AGREEMENT is made this [day] of [Month] by and between:

[Name of the Lessor] [address of the Lessor] hereinafter referred as the Lessor, which expression shall mean and include his legal heir and successors

AND

[Name of the Lessee] [address of the Lessee] hereinafter referred as the Lessee, which expression shall mean and include his legal heir and successors.

The above referred Lessor and Lessee are hereinafter collectively referred to as "Parties" and individually as "Party".

The Lessee is in the business of [Business] and has approached the Lessor for lease of the Premised ("description provided below") for his business activity. The Lessor has agreed to provide the said Premises to the Lessee based on the terms and conditions of this Lease Agreement.

NOW THEREFORE, in consideration of the mutual covenants, terms and conditions and understandings set forth in this Agreement, the Parties, with the intent to be legally bound, hereby covenant and agree as follows:

Premises: This Agreement is made in favour of the Lessee to have and to hold the [Description of the Leased Premises] Premises from the [Commencement Date] for the term of [Term/Years].

Security Deposit: The Lessee shall provide a sum of CAD $ [Security Deposit] to the Lessor as the Security Deposit.

Rent: The Lessee shall pay to the Lessor a monthly rent of CAD $ [Rent ] being due in advance and for any charges for gas, electricity or water herein provided for. Any unpaid rent shall attract an additional interest at the rate of ____ % from the due date till finally and completely aid off by the Lessee. Commercial Purpose: This lease is for a commercial purpose only for such business activities which are agreed by the Lessor and the Lessee. The Lessee will not use or permit the premises to be used for any illegal or improper purposes, Covenants: The Lessor shall not make any permanent alteration or modification to the Lease Premises.

Jurisdiction: This Lease shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the laws of the Province of [Province].

Termination: This Lease Agreement shall automatically come to an end on the expiration of its term. This Lease Agreement may also be terminated by either of the Party by providing one month notice to each other. Assignment: The Rights provided to the Lessee under this Agreement shall not be assigned to any third party.

Inspection: The Lessee shall allow the right of access to the Lessor and right of inspection of the Premises to the Lessor.

Dispute: Any dispute and/or differences arising out of or pertaining to this Agreement shall be resolved by the parties through negotiations, failing which they shall be subject arbitration proceedings as per the National Arbitration Rules, ADAR Canada as mutually agreed upon between the parties hereto and shall be subject to the exclusive jurisdiction of the Courts of law at [Province].



IN WITNESS WHEREOF THE PARTIES hereto have hereunto set and subscribed their respective hands on the day and date first hereinabove mentioned.



Lessor Lessee

_________________ ____________________

Date: Date:



SCHEDULE-I

DESCRIPTION OF THE PROPERTY

List of all furniture and fixture or items along with Lease