Illinois Lease Agreement: Jackson Shawn Alpha Metro Limited Partnership and Efficient Networks, Inc. A lease agreement is a legally binding contract between a landlord and a tenant that defines the terms and conditions under which a property is rented. In the case of the Illinois Lease Agreement involving Jackson Shawn Alpha Metro Limited Partnership and Efficient Networks, Inc., it refers to a specific lease arrangement in the state of Illinois. Key Terms and Conditions: 1. Parties involved: The lease agreement involves two parties — Jackson Shawn Alpha Metro Limited Partnership, acting as a landlord or lessor, and Efficient Networks, Inc., acting as a tenant or lessee. 2. Address of the leased property: The agreement specifies the address and description of the leased property in Illinois. It may include details such as the building name, street address, suite number, and any additional relevant information. 3. Lease term: The agreement outlines the duration of the lease, starting from the lease commencement date and ending on the lease termination date. It may also mention any renewal options or provisions for early termination. 4. Rent and payment terms: The lease agreement specifies the monthly rent amount and the payment schedule. It may outline the preferred payment method and any penalties or late fees for delayed payments. 5. Security deposit: Details regarding the security deposit required from the tenant are included. This includes the amount deposited, conditions for its refund or deductions, and any interest accruing on the deposit. 6. Maintenance and repairs: The lease agreement may outline the responsibilities of the landlord and tenant concerning property maintenance, repairs, and who should bear the associated costs. 7. Permitted use: It clarifies the permitted usage of the premises by the tenant. In the case of commercial leases, it may specify the type of business activities allowed and any restrictions imposed. 8. Alterations and improvements: The agreement may outline procedures for making alterations or improvements to the property, including obtaining necessary permissions and who bears the costs. 9. Insurance and liabilities: It may require the tenant to obtain insurance coverage for liability, damages, or loss related to their occupancy and business operations. The landlord's insurance obligations may also be outlined. 10. Termination and default: The lease agreement defines the conditions under which either party can terminate the lease, such as a breach of terms, non-payment, or violation of rules and regulations. Types of Illinois Lease Agreements: 1. Commercial Lease Agreement: This type of lease agreement is specific to commercial properties used for business purposes. It may differ from residential lease agreements due to the unique requirements and considerations of commercial properties. 2. Residential Lease Agreement: This lease agreement type applies to residential properties, where the tenant agrees to rent a house, apartment, or other residential units. 3. Sublease Agreement: In cases where the original tenant wants to sublet the property to another party, a sublease agreement is used to establish the relationship between the original tenant (sublessor), the subtenant, and the landlord. 4. Month-to-Month Lease Agreement: This agreement allows for a flexible tenancy with a monthly rental basis. It automatically renews each month unless terminated by either party with proper notice. In conclusion, the Illinois Lease Agreement involving Jackson Shawn Alpha Metro Limited Partnership and Efficient Networks, Inc. establishes the terms and conditions for the rental of a property in Illinois. It is crucial for both parties to carefully review and understand the agreement before signing, as it governs their rights and obligations throughout the lease period.
Illinois Lease Agreement Jackson Shawn Alpha Metro Limited Partnership and Efficient Networks, Inc.
Category:
State:
Multi-State
Control #:
US-EG-9403
Format:
Word;
Rich Text
Instant download
Description
Office Lease Agreement between Jackson-Shawn/Alpha Metro Limited Partnership and Efficient Networks, Inc. dated November 1, 1999. 13 pages.
Illinois Lease Agreement: Jackson Shawn Alpha Metro Limited Partnership and Efficient Networks, Inc. A lease agreement is a legally binding contract between a landlord and a tenant that defines the terms and conditions under which a property is rented. In the case of the Illinois Lease Agreement involving Jackson Shawn Alpha Metro Limited Partnership and Efficient Networks, Inc., it refers to a specific lease arrangement in the state of Illinois. Key Terms and Conditions: 1. Parties involved: The lease agreement involves two parties — Jackson Shawn Alpha Metro Limited Partnership, acting as a landlord or lessor, and Efficient Networks, Inc., acting as a tenant or lessee. 2. Address of the leased property: The agreement specifies the address and description of the leased property in Illinois. It may include details such as the building name, street address, suite number, and any additional relevant information. 3. Lease term: The agreement outlines the duration of the lease, starting from the lease commencement date and ending on the lease termination date. It may also mention any renewal options or provisions for early termination. 4. Rent and payment terms: The lease agreement specifies the monthly rent amount and the payment schedule. It may outline the preferred payment method and any penalties or late fees for delayed payments. 5. Security deposit: Details regarding the security deposit required from the tenant are included. This includes the amount deposited, conditions for its refund or deductions, and any interest accruing on the deposit. 6. Maintenance and repairs: The lease agreement may outline the responsibilities of the landlord and tenant concerning property maintenance, repairs, and who should bear the associated costs. 7. Permitted use: It clarifies the permitted usage of the premises by the tenant. In the case of commercial leases, it may specify the type of business activities allowed and any restrictions imposed. 8. Alterations and improvements: The agreement may outline procedures for making alterations or improvements to the property, including obtaining necessary permissions and who bears the costs. 9. Insurance and liabilities: It may require the tenant to obtain insurance coverage for liability, damages, or loss related to their occupancy and business operations. The landlord's insurance obligations may also be outlined. 10. Termination and default: The lease agreement defines the conditions under which either party can terminate the lease, such as a breach of terms, non-payment, or violation of rules and regulations. Types of Illinois Lease Agreements: 1. Commercial Lease Agreement: This type of lease agreement is specific to commercial properties used for business purposes. It may differ from residential lease agreements due to the unique requirements and considerations of commercial properties. 2. Residential Lease Agreement: This lease agreement type applies to residential properties, where the tenant agrees to rent a house, apartment, or other residential units. 3. Sublease Agreement: In cases where the original tenant wants to sublet the property to another party, a sublease agreement is used to establish the relationship between the original tenant (sublessor), the subtenant, and the landlord. 4. Month-to-Month Lease Agreement: This agreement allows for a flexible tenancy with a monthly rental basis. It automatically renews each month unless terminated by either party with proper notice. In conclusion, the Illinois Lease Agreement involving Jackson Shawn Alpha Metro Limited Partnership and Efficient Networks, Inc. establishes the terms and conditions for the rental of a property in Illinois. It is crucial for both parties to carefully review and understand the agreement before signing, as it governs their rights and obligations throughout the lease period.
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