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

• Category: Corporations - Public - Leases
• State: Multi-State
• City: Chicago
• 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. Chicago Illinois Lease Agreement is a legally binding contract that outlines the terms and conditions for the rental of an office building between Ryan South bank II, LLC and Mind spring Enterprises, Inc. It ensures both parties' rights and responsibilities are protected throughout the lease duration. Here are some important details regarding this lease agreement: 1. Parties involved: The lease agreement involves two parties Southth banknk II, LLC, the lessor or landlord, and Mind spring Enterprises, Inc., the lessee or tenant. 2. Lease Term: The lease agreement specifies the duration for which the office building will be leased. This could be a fixed term, such as one year, or a month-to-month agreement. 3. Rental Payment: The agreement defines the rental amount to be paid by Mind spring Enterprises, Inc. to Ryan South bank II, LLC for occupying the office building. It outlines the frequency of rental payments (monthly, quarterly, etc.) and the preferred method of payment. 4. Security Deposit: The lease agreement typically requires Mind spring Enterprises, Inc. to provide a security deposit to Ryan South bank II, LLC. The amount and conditions for refunding the deposit at the end of the lease are detailed in the agreement. 5. Maintenance and Repairs: The responsibilities for maintenance and repairs are usually outlined in the lease agreement. It may specify which party is responsible for repairs and maintenance of the office building, including the HVAC system, plumbing, electrical systems, and other structural components. 6. Permitted Use: The lease agreement defines the permitted use of the office building. It outlines any restrictions or limitations on the activities that can be conducted within the premises, ensuring Mind spring Enterprises, Inc. adheres to any zoning or building code regulations. 7. Alterations and Improvements: If Mind spring Enterprises, Inc. wishes to make any alterations or improvements to the office building, the lease agreement will specify the process, permissions required, and the party responsible for associated costs. 8. Termination Clause: The lease agreement includes provisions for terminating the contract prematurely, either by mutual agreement or due to default by one party. It outlines any penalties or consequences for early termination or breach of contract. 9. Insurance: The agreement may require Mind spring Enterprises, Inc. to obtain adequate insurance coverage, such as general liability or property insurance, to protect against any potential damages or liabilities. 10. Governing Laws: The lease agreement defines that it is governed by the state of Illinois and any disputes or legal actions related to the agreement shall be resolved in the applicable courts of Chicago. Types of Chicago Illinois Lease Agreement: 1. Commercial Lease Agreement: A lease agreement specifically designed for commercial properties, such as office buildings, retail spaces, or industrial properties. 2. Gross Lease Agreement: This type of lease agreement includes the rental amount as a fixed package, covering rent, operating expenses, and property taxes. The tenant does not pay separate utility bills or maintenance costs. 3. Net Lease Agreement: In a net lease agreement, the tenant is responsible for a portion of operating expenses, in addition to the base rent. This could include expenses like property taxes, insurance, and maintenance costs. 4. Modified Gross Lease Agreement: This type of lease agreement incorporates aspects of both gross and net leases. It specifies which party is responsible for various expenses, such as property taxes, insurance, or maintenance, offering more flexibility in sharing costs. By addressing these key points and understanding the different types of lease agreements available, Ryan South bank II, LLC and Mind spring Enterprises, Inc. can establish a comprehensive and clear understanding of their rights and obligations while leasing the office building in Chicago, Illinois.

Chicago Illinois Lease Agreement is a legally binding contract that outlines the terms and conditions for the rental of an office building between Ryan South bank II, LLC and Mind spring Enterprises, Inc. It ensures both parties' rights and responsibilities are protected throughout the lease duration. Here are some important details regarding this lease agreement: 1. Parties involved: The lease agreement involves two parties Southth banknk II, LLC, the lessor or landlord, and Mind spring Enterprises, Inc., the lessee or tenant. 2. Lease Term: The lease agreement specifies the duration for which the office building will be leased. This could be a fixed term, such as one year, or a month-to-month agreement. 3. Rental Payment: The agreement defines the rental amount to be paid by Mind spring Enterprises, Inc. to Ryan South bank II, LLC for occupying the office building. It outlines the frequency of rental payments (monthly, quarterly, etc.) and the preferred method of payment. 4. Security Deposit: The lease agreement typically requires Mind spring Enterprises, Inc. to provide a security deposit to Ryan South bank II, LLC. The amount and conditions for refunding the deposit at the end of the lease are detailed in the agreement. 5. Maintenance and Repairs: The responsibilities for maintenance and repairs are usually outlined in the lease agreement. It may specify which party is responsible for repairs and maintenance of the office building, including the HVAC system, plumbing, electrical systems, and other structural components. 6. Permitted Use: The lease agreement defines the permitted use of the office building. It outlines any restrictions or limitations on the activities that can be conducted within the premises, ensuring Mind spring Enterprises, Inc. adheres to any zoning or building code regulations. 7. Alterations and Improvements: If Mind spring Enterprises, Inc. wishes to make any alterations or improvements to the office building, the lease agreement will specify the process, permissions required, and the party responsible for associated costs. 8. Termination Clause: The lease agreement includes provisions for terminating the contract prematurely, either by mutual agreement or due to default by one party. It outlines any penalties or consequences for early termination or breach of contract. 9. Insurance: The agreement may require Mind spring Enterprises, Inc. to obtain adequate insurance coverage, such as general liability or property insurance, to protect against any potential damages or liabilities. 10. Governing Laws: The lease agreement defines that it is governed by the state of Illinois and any disputes or legal actions related to the agreement shall be resolved in the applicable courts of Chicago. Types of Chicago Illinois Lease Agreement: 1. Commercial Lease Agreement: A lease agreement specifically designed for commercial properties, such as office buildings, retail spaces, or industrial properties. 2. Gross Lease Agreement: This type of lease agreement includes the rental amount as a fixed package, covering rent, operating expenses, and property taxes. The tenant does not pay separate utility bills or maintenance costs. 3. Net Lease Agreement: In a net lease agreement, the tenant is responsible for a portion of operating expenses, in addition to the base rent. This could include expenses like property taxes, insurance, and maintenance costs. 4. Modified Gross Lease Agreement: This type of lease agreement incorporates aspects of both gross and net leases. It specifies which party is responsible for various expenses, such as property taxes, insurance, or maintenance, offering more flexibility in sharing costs. By addressing these key points and understanding the different types of lease agreements available, Ryan South bank II, LLC and Mind spring Enterprises, Inc. can establish a comprehensive and clear understanding of their rights and obligations while leasing the office building in Chicago, Illinois.