North Dakota Lease Agreement regarding lease of office building between Ryan Southbank II, LLC and Mindspring Enterprises, Inc.

• Category: Corporations - Public - Leases
• State: Multi-State
• Control #: US-EG-9285
• Format: Word; Rich Text

Description

Lease Agreement between Ryan Southbank II, LLC and Mindspring Enterprises, Inc. regarding lease of office building dated June 30, 1998. 23 pages.

North Dakota Lease Agreement for Office Building: A Comprehensive Guide for Ryan South bank II, LLC and Mind spring Enterprises, Inc. Introduction: The North Dakota Lease Agreement for the lease of an office building sets forth the terms and conditions binding Ryan South bank II, LLC (hereinafter referred to as "Landlord") and Mind spring Enterprises, Inc. (hereinafter referred to as "Tenant") throughout the lease term. This detailed description aims to provide an in-depth overview of the agreement, including its key provisions, responsibilities, and any potential variations that may exist. Key Provisions: 1. Lease Term: The lease term specifies the duration of the agreement, such as a specific number of years, months, or a more flexible arrangement. 2. Rental Payment: This clause outlines the agreed-upon monthly rent amount, the method of payment, and the due date. It may also mention any penalties for late payments. 3. Security Deposit: The security deposit clause determines the amount of money Tenant must provide as a deposit to cover any damages or unpaid rent during the lease term. 4. Condition of Premises: This provision details the condition of the office building at the time of lease initiation, including any existing damages or repairs required. It may also establish Tenant's responsibility to maintain the premises. 5. Repair and Maintenance: This clause outlines the responsibilities of both Landlord and Tenant regarding repairs and regular maintenance of the office building, including structural elements, utilities, and common areas. 6. Use of Premises: This provision specifies the permitted use of the office building solely for commercial purposes, ensuring that Tenant operates the business according to applicable laws and regulations. 7. Alterations and Modifications: If Tenant wishes to make any alterations or modifications to the office building, this clause states the procedure and requirements to obtain Landlord's consent. 8. Subleasing and Assignment: The agreement may address Tenant's ability to sublease the premises or assign the lease to a third party, subject to Landlord's approval. Types of North Dakota Lease Agreements: 1. Standard Commercial Lease Agreement: This is the most commonly used lease agreement, providing a comprehensive framework for the lease of an office building, including the key provisions mentioned above. 2. Modified Lease Agreement: Parties may choose to modify certain terms or add specific clauses to address unique requirements that differ from the standard agreement. Such modifications should be agreed upon in writing by both parties. 3. Short-Term Lease Agreement: In cases where Tenant's business necessitates a shorter lease period, a short-term lease agreement can be created. It offers more flexibility while still covering the essential terms of the lease. 4. Triple Net (NNN) Lease Agreement: A Triple Net Lease Agreement places additional financial responsibilities, such as property taxes, insurance, and maintenance costs, on the Tenant, relieving the Landlord of these expenditures. Conclusion: The North Dakota Lease Agreement for an office building governs the relationship between Landlord and Tenant, ensuring clear terms and responsibilities during the lease term. While the standard commercial lease agreement serves as the foundation, variations may exist to cater to specific needs, such as modified agreements, short-term leases, or triple net leases. It is essential for both parties, Ryan South bank II, LLC and Mind spring Enterprises, Inc., to carefully review and negotiate the agreement to protect their respective rights and obligations effectively.