TENANT — Galaxy Holdings
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Name: Michael Yuan
Title: General Manager
Date:
LANDLORD —
Name:
Title:
Date:
This Commercial Lease Agreement (the “Lease”) is made as of between , a with an address at (“Landlord”), and Galaxy Holdings, a TX LLC with an address at (“Tenant”). Landlord and Tenant are each a “Party” and together the “Parties.”
Landlord leases to Tenant, and Tenant leases from Landlord, the commercial premises located at , consisting of approximately rentable square feet (the “Premises”), together with the non-exclusive right to use the common areas serving the Premises.
The term of this Lease is months (the “Term”), commencing on (the “Commencement Date”) and expiring at 11:59 p.m. on , unless sooner terminated or extended in accordance with this Lease.
Tenant shall pay base rent of per month (“Base Rent”), due in advance on the first day of each calendar month, without demand, deduction, or offset, at the address designated by Landlord or such other place as Landlord may direct in writing. Rent for any partial month shall be prorated on a daily basis.
Upon execution of this Lease, Tenant shall deposit with Landlord as security for Tenant’s performance (the “Security Deposit”). Landlord may apply the Security Deposit to cure any default or to repair damage beyond ordinary wear and tear. Any unapplied balance shall be returned to Tenant, without interest unless required by law, within the period prescribed by applicable law after the Premises are surrendered.
This Lease is a triple-net lease. In addition to Base Rent, Tenant shall pay its proportionate share of operating expenses, including real property taxes, building insurance, and common area maintenance (collectively, “CAM”), estimated at per month, subject to annual reconciliation against actual costs. Landlord shall provide Tenant with an itemized statement of actual operating expenses within ninety (90) days after the end of each calendar year.
Tenant shall use the Premises solely for and for no other purpose without Landlord’s prior written consent. Tenant shall comply with all applicable laws, ordinances, and regulations, and shall not commit waste or create a nuisance. Tenant shall not store, handle, or dispose of hazardous materials on the Premises except in compliance with applicable environmental laws.
Tenant shall, at its expense, keep the interior of the Premises in good condition and repair, including all non-structural elements, fixtures, and Tenant’s trade equipment. Landlord shall maintain the structural elements of the building, including the roof, foundation, exterior walls, and building systems serving the Premises, except to the extent damage is caused by Tenant or its agents, employees, or invitees.
Tenant shall not make structural alterations to the Premises without Landlord’s prior written consent, which shall not be unreasonably withheld. All permanent alterations and improvements become the property of Landlord upon installation unless Landlord requires their removal at the end of the Term.
Tenant shall maintain commercial general liability insurance with limits of not less than per occurrence, naming Landlord as an additional insured, and shall furnish certificates of insurance on request. Tenant shall indemnify and hold Landlord harmless from claims arising out of Tenant’s use or occupancy of the Premises, except to the extent caused by Landlord’s negligence or willful misconduct.
Tenant shall not assign this Lease or sublet all or any part of the Premises without Landlord’s prior written consent, which shall not be unreasonably withheld. No assignment or sublease shall release Tenant from its obligations under this Lease.
Each of the following constitutes an “Event of Default”: (a) Tenant fails to pay rent within five (5) days after it is due; (b) Tenant fails to perform any other obligation and does not cure within fifteen (15) days after written notice; or (c) Tenant becomes insolvent or subject to bankruptcy proceedings. Upon an Event of Default, Landlord may, in addition to all remedies available at law or in equity, terminate this Lease, re-enter and repossess the Premises, and recover all amounts due plus damages and reasonable attorneys’ fees.
Upon expiration or termination of this Lease, Tenant shall surrender the Premises in good condition, ordinary wear and tear excepted, and shall remove its personal property and trade fixtures.
This Lease is governed by the laws of the State of TX, without regard to its conflict-of-laws principles. This Lease constitutes the entire agreement between the Parties regarding the Premises and may be executed in counterparts, including by electronic signature.
Name: Michael Yuan
Title: General Manager
Date:
Name:
Title:
Date: