A standard industrial/commercial single tenant lease is a lease agreement between two parties one of which is the landlord also known as the lessor and the party taking up the premises on lease and is known as the lessee. In a single tenant lease the lessee takes up the while premises and is generally responsible for paying up the monthly rent and other expenses relating to upkeep and maintenance of the premises.
The standard industrial/commercial single tenant lease format consists of all the details of both the lessor and lessee, details of the premises being taken up on lease, the monthly rent, advance, association fees, security deposit, monthly maintenance, the term of lease agreement, the responsibilities and rights of both the parties, remedies in case of any dispute and other general terms and conditions. The lessee also undertakes to indemnify the lessor from the consequences of all activities being undertaken by the lessee in the premises.
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