BILLBOARD ADVERTISING SPACE LEASE
Effective Date: [Date]
1. PARTIES AND PROPERTY
1.1 This Billboard Advertising Space Lease ("Agreement" or "Lease") is entered into as of [Effective Date] by and between:
[Lessor Full Legal Name] ("Lessor/Owner"), with an address at [Address];
and
[Lessee Full Legal Name] ("Lessee/Tenant"), with an address at [Address].
1.2 LEASED PROPERTY/EQUIPMENT: The Lessor hereby leases to Lessee the following described property: (a) Description: [Detailed description of property/equipment]; (b) Location: [Physical address or location]; (c) Specifications: [Size, dimensions, condition, features]; (d) Included amenities/accessories: [List].
2. LEASE TERM
2.1 The initial term of this Lease shall commence on [Start Date] and terminate on [End Date] ("Initial Term").
2.2 Renewal: This Lease shall [automatically renew for successive periods of [Duration]/terminate at the end of the Initial Term unless renewed by written agreement].
2.3 Early Termination: Either Party may terminate this Lease prior to the expiration of the term by providing [60] days' written notice, subject to early termination fees of $[Amount] or [equivalent to remaining rent for specified period].
3. RENT AND PAYMENT TERMS
3.1 Base Rent: Lessee shall pay Lessor rent of $[Amount] per [month/year/season], due on the [1st] day of each [payment period].
3.2 Security Deposit: Lessee shall deposit $[Amount] as security, refundable within [30] days of lease termination, less deductions for damages or unpaid rent.
3.3 Late Fees: Payments received after the [5th] day of the month shall incur a late fee of $[Amount] or [5]% of the monthly rent.
3.4 Rent Escalation: Rent shall increase by [Percentage]% annually, or as otherwise agreed in writing.
3.5 Payment Method: All payments shall be made via [check/electronic transfer/other] to [payment details].
4. USE, MAINTENANCE, AND CONDITION
4.1 Permitted Use: Lessee shall use the leased property solely for [specified purpose] and in compliance with all applicable laws, regulations, and zoning requirements.
4.2 Maintenance: Lessee shall maintain the property in good condition and repair, ordinary wear and tear excepted. Lessor shall be responsible for [structural/major system] repairs.
4.3 Alterations: Lessee shall not make any alterations, additions, or improvements without Lessor's prior written consent.
4.4 Inspection: Lessor reserves the right to inspect the property upon [24] hours' prior notice during reasonable business hours.
5. INSURANCE AND LIABILITY
5.1 Lessee shall maintain the following insurance: (a) Liability insurance with coverage of at least $[Amount]; (b) Property/renter's insurance covering personal property and improvements; (c) [Additional insurance as required for specific property type].
5.2 Lessee shall name Lessor as an additional insured and provide certificates of insurance upon request.
5.3 Lessee assumes all risk of loss or damage to Lessee's personal property on the premises.
5.4 Lessee shall indemnify and hold Lessor harmless from claims arising from Lessee's use of the property.
6. DEFAULT AND REMEDIES
6.1 Events of Default by Lessee include: (a) Failure to pay rent within [10] days of the due date; (b) Violation of any material term of this Lease; (c) Abandonment of the property; (d) Bankruptcy or insolvency of Lessee.
6.2 Upon default, Lessor may: (a) Provide written notice and [cure period] days to remedy; (b) Terminate this Lease and recover possession; (c) Pursue all legal remedies, including recovery of unpaid rent and damages; (d) Retain the security deposit to the extent permitted by law.
7. RETURN OF PROPERTY
7.1 Upon expiration or termination, Lessee shall return the property in the same condition as received, ordinary wear and tear excepted.
7.2 Lessee shall remove all personal property and restore any authorized alterations if requested by Lessor.
7.3 A joint inspection shall be conducted within [5] business days of lease termination to document the condition of the property.
7.4 Any property left by Lessee after [15] days following termination shall be deemed abandoned.
8. GOVERNING LAW
8.1 This Agreement shall be governed by and construed in accordance with the laws of the State of [State/Jurisdiction], without regard to its conflict of law provisions.
8.2 Any disputes arising under or in connection with this Agreement shall be resolved in the state or federal courts located in [County], [State], and each Party hereby consents to the jurisdiction of such courts.
9. SEVERABILITY
9.1 If any provision of this Agreement is held to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect.
9.2 The invalid or unenforceable provision shall be modified to the minimum extent necessary to make it valid and enforceable.
10. ENTIRE AGREEMENT
10.1 This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior negotiations, representations, warranties, commitments, offers, and agreements, whether written or oral.
10.2 No amendment or modification of this Agreement shall be valid unless made in writing and signed by both Parties.
SIGNATURES
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.
[Party A Name] Signature: ___________________________ Name: [Full Legal Name] Title: [Title/Position] Date: [Date]
[Party B Name] Signature: ___________________________ Name: [Full Legal Name] Title: [Title/Position] Date: [Date]
DISCLAIMER: This template is provided for informational purposes only and does not constitute legal advice. Consult a qualified attorney before using this document to ensure compliance with applicable laws in your jurisdiction.
