BlanqCanvass CoWorking
Co-Share Office and Desk Lease Agreement
THIS CO-SHARE OFFICE AND DESK LEASE (“Lease”) is made and entered into this [1]st day of [August], 2019, by and between BC Morehead LLC, a North Carolina Limited Liability Company, hereinafter referred to as “Landlord” and, [TENANT] hereinafter referred to as “Tenant.”
W I T N E S S E T H:
WHEREAS, a portion of the Building has been designated by Landlord and Landlord for co- share offices and desks (the “Co-Share Suites”), and Tenant desires to lease from Landlord one or more of these Co-Share Suites.
NOW THEREFORE, in consideration of the foregoing recitals, the mutual covenants hereinafter contained, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
1. Premises. Tenant hereby leases from Landlord Office/Desk(s) # [9], which is depicted on Exhibit A (the “Tenant Premises”). In addition, Tenant shall have, in common with other occupants, the nonexclusive use of the common areas including the lobby and conference and meeting rooms. Tenant’s right and duties under this Lease may not be assigned or otherwise transferred without Landlord’s prior written consent.
2. Term. The term of this Lease (the “Term”) shall begin on the date referenced in the first paragraph above (the “Beginning Date”) and shall end on the date that is One Month from the Beginning Date (the “Initial Term”). The Term shall automatically renew for successive terms equivalent to the duration of the Initial Term (each, a “Renewal Period”) unless either party shall provide the other party with written notice thirty (30) days prior to the expiration of the then-current Term that it does not intend to renew the Lease. Each Renewal Period shall be on the same terms and conditions as provided in this Lease. All references to the “Term” shall be deemed to include any Renewal Periods, unless the context indicates otherwise.
3. Rental. Tenant shall pay a rental to Landlord (the “Rent”) for the Tenant Premises beginning as of the Beginning Date in the amount of [$000] per month. The said monthly rent shall be due and payable on the first (1st) day of each month beginning on the Beginning Date and shall continue throughout the term of this Lease, starting with any partial month at the beginning or end of the term being prorated and paid in advance. Tenant’s covenant to pay Rent shall be independent of every other covenant in this Lease. Commencing on the first anniversary of the Beginning Date and continuing thereafter on each succeeding anniversary of the Beginning Date, the Rent payable hereunder shall escalate in a minimum amount of three percent (3%) of the prior year’s annual Rent rate. Notwithstanding the foregoing, the Landlord may increase the rent upon 30 days notice to Tenant.
4. Condition, Use, and Maintenance. Tenant agrees to accept the Tenant Premises in “as is” condition, and Landlord shall have no responsibility to upfit or otherwise improve the Tenant Premises. Tenant shall use the Tenant Premises only for general office purposes. Tenant shall comply with all legal requirements with respect to the Tenant Premises and Tenant’s use and occupancy thereof. Landlord and/or Landlord shall be responsible for routine maintenance and upkeep of the Building and the Tenant Premises, but such duty of repair and maintenance shall not extend to any condition or damage caused by the negligent or unauthorized use of the Tenant Premises by Tenant, its agents, employees, or invitees. Tenant must obtain Landlord’s prior written consent before obtaining or contracting for any service not specifically provided for in this Lease. Tenant shall not place heat generating machines or equipment in the Tenant Premises which affect the temperature otherwise maintained by the Building heating and air conditioning system. At the end of Tenant’s occupancy of the Tenant Premises, Tenant shall surrender the Tenant Premises to Landlord in the same broom clean condition that the Tenant Premises were in on the Beginning Date except for ordinary wear and tear and damage by the elements, fire, and other casualty.
5. Indemnity. Tenant does hereby agree to indemnify and hold harmless Landlord and Landlord from and against any and all claims for bodily injury, including death, and property damage and any other cost or expense occurring in or about the Tenant Premises resulting from the acts or omissions of Tenant, or any employee, agent, or invitee of Tenant, the breach of this Lease or the Lease by Tenant, or otherwise resulting from the occupancy of the Tenant Premises by Tenant. Landlord does hereby agree to indemnify and hold harmless Tenant from and against any and all claims for bodily injury, including death, and property damage and any other cost or expense occurring in or about the Tenant Premises prior to, or after, the Lease term.
6. Landlord Warranty. Landlord warrants that the Lease is in full force and effect and that to the best knowledge of Landlord there exists no defaults on the part of Landlord or Landlord thereunder and covenants that it will not amend the Lease in any way which may have an adverse impact on Tenant’s use or occupancy of the Tenant Premises without Tenant’s prior written consent. Landlord warrants that during the term of this Lease it will comply with the Lease (except to the extent Tenant is required to do so hereunder) and make all payments to Landlord required thereunder (unless Tenant is required make such payments hereunder), and Landlord shall indemnify Tenant and hold Tenant harmless from any liability, loss, cost or expense incurred by Tenant resulting from Landlord’s breach of the terms of the Lease or any of the foregoing warranties.
7. Tenant Warranty. Tenant warrants to Landlord that it will make all payments required under this Lease and abide by and perform all obligations hereunder and commit no default under this Lease or the Lease, and Tenant shall indemnify Landlord and hold it harmless from any liability, loss, cost or expense resulting from Tenant’s breach of this warranty.
8. Security Deposit. Tenant has paid to Landlord upon signing this Lease a security deposit in the amount of $0 (the “Deposit”) as security for Tenant’s performance of all obligations hereunder. The Deposit may be held by Landlord in such manner as it shall elect and Landlord shall be entitled to any interest which accrues on the Deposit. In the event of a default by Tenant, Landlord may, at its option, apply all or any part of the Deposit to cure the default, and thereupon Tenant shall immediately redeposit with Landlord the amount so applied in order that Landlord will always have the full Deposit on hand during the term of this Lease. Upon the termination of this Lease, provided that Tenant is not in default hereunder, Landlord shall refund to Tenant any of the remaining balance of the Deposit subject to final adjustments for payment of any rental required by this Lease.
9. Quiet Enjoyment. Tenant, upon performing its obligations hereunder, shall hold and enjoy the Tenant Premises for the term aforesaid, subject, however, to the terms of this Lease and the Lease.
10. Late Payment. If monthly rent or any other payment due hereunder from Tenant to Landlord remains unpaid five (5) days after said payment is due, the amount of such unpaid rent or other payment shall be increased by a late charge equal to five percent (5%) of the amount of the delinquent rent or other payment.
11. Common Area and Common Services.
a) Landlord shall provide furnished conference and meeting rooms for the purpose of handling conferences or meetings staged by Tenant. Such conference and meeting rooms will be available on a first-come, first-served basis with other Co-Share Suites occupants through prior arrangement with Landlord. Landlord reserves the right to institute and/or change the rules relating to the use of the conference and meeting rooms. These rules are hereby deemed incorporated into this Lease and the breach of such rules shall be deemed a breach of this Lease.
b) Landlord, at its expense, shall provide the following: (1) furniture for the Tenant Premises (in “as is” condition as of the date of this Lease); (2) wireless Internet connectivity; and (3) periodic cleaning and janitorial services in the Tenant Premises Monday through Friday, excluding national holidays.
12. Interruption of Services. Landlord does not warrant that any services supplied to the Tenant Premises will not be interrupted, including without limitation interruptions due to accidents, storms, Acts of God, repairs, alterations, improvements, labor troubles, or any other reason beyond the reasonable control of Landlord, and any interruption shall not: (i) be considered an eviction or disturbance of Tenant’s use and possession of the Tenant Premises; (ii) make Landlord liable to Tenant for damages; (iii) abate monthly rent or any other charge under this Lease; or (iv) relieve Tenant from performing Tenant’s obligations hereunder.
13. Right of Entry. Landlord shall have the right to enter and grant licenses to enter the Tenant Premises for any reasonable purpose at any time upon reasonable advance verbal notice (except in emergencies and normal and customary janitorial and maintenance services when no notice is required).
14. Tenant’s Personal Property. All personal property stored by Tenant in the Building or utilized while occupying the Tenant Premises shall be stored or used at Tenant’s own risk. Landlord shall not be liable for any damage to, or loss of Tenant’s personal property arising from fire or the leaking of the roof, or from the bursting, leaking, or overflowing of water, sewer or steam pipes or from any other cause whatsoever.
15. Default. The occurrence of any one of the following shall constitute a default by Tenant: (a) failure to pay Rent or any other amounts due hereunder within five (5) days after same becomes due; and (b) failure to perform any other provision of this Lease if the failure to perform is not cured within seven (7) days after notice thereof has been given to Tenant. No such notice shall be deemed a forfeiture or a termination of this Lease unless Landlord so elects in the notice.
16. Waiver. The waiver by Landlord of any breach of any covenant herein contained shall not be a waiver of any other default concerning the same or any other covenant or agreement herein.
17. General Provisions. All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural, as the identity of the person(s), firm(s), or corporation(s) may require. This Lease may be executed in counterparts, all of which taken together, shall be deemed one original. This Lease embodies the full agreement of the parties and supersedes all prior understandings concerning the subject matter of this Lease, and any amendment or modification must be in writing and signed by both parties. This Lease shall be construed and enforced in accordance with the law of the State of North Carolina. In the event that any provision of this Lease shall be determined to be invalid or unenforceable, the remaining provisions thereof which can be separated from the invalid, unenforceable provision shall continue in full force and effect. The section titles, numbers and captions contained in this Lease are only for convenience and reference, and in no way define, limit, extend, modify or describe the scope or intent of this Lease nor any provision herein. Except as otherwise provided in this Lease, time is of the essence in the performance of the provisions of this Lease. Notwithstanding anything contained herein to the contrary, in no event shall Landlord or Tenant be liable to the other for any party claiming through or on behalf of Landlord or Tenant, for any consequential, indirect or special damages.
IN WITNESS WHEREOF, the parties hereto have reviewed and accepted this Lease as of the day and year first above written.
LANDLORD:
BC Morehead LLC a North Carolina Limited Liability Company
By: Its Manager or Managing Member
X_______________________
TENANT:
[ENTITY LLC]
By: [NAME]
X_______________________
EXHIBIT A
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