Commercial Lease Agreement - Delaware Preparation Packet

DELAWARE COMMERCIAL LEASE — PREPARATION PACKET

Use gate. This form is for a negotiated nonresidential lease after property, party, use, title, construction, regulatory, tax, insurance, and remedy review. Do not use it for a dwelling, mixed residential use, ground lease, agricultural lease, mineral rights, public property, regulated facility, franchise, concession, or sale-leaseback without a tailored instrument.

1. Parties, Property, and Transaction

2. Current-Authority and Due-Diligence Gate

☐ Current statutes, rules, land records, zoning and permitting sources, court procedures, and official forms were checked.

☐ Pending and recently effective amendments were checked.

☐ No possession or remedy clause exceeds the verified Delaware route.

3. Premises and Property Schedule

Measurement standard and verification: [________________]

Existing encumbrance, easement, restriction, or association rule: [________________]

4. Term, Delivery, and Condition

Tenant’s occupancy should not be labeled conclusive acceptance beyond the negotiated and lawful condition standard.

5. Rent and Financial Terms

Operating-expense exclusions and controllable-cost cap: [________________]

Gross-up, base year, occupancy adjustment, and audit rights: [________________]

Payment method and destination: [________________]

6. Security and Credit Support

☐ Cash deposit: $[________________]

☐ Letter of credit: [________________]

☐ Guaranty: [________________]

☐ Security interest in identified personal property under separate documents: [________________]

☐ No additional security

Do not borrow residential deposit rules without confirming their applicability.

7. Use, Compliance, and Operations

Permitted use stated precisely: [________________]

Exclusive / prohibited use: [________________]

Hours, access, deliveries, and security: [________________]

Licenses and permits allocated to: [________________]

Compliance responsibility by condition and actor: [________________]

Nuisance, noise, odor, vibration, waste, and overloading controls: [________________]

Hazardous-material schedule and permitted quantities: [________________]

Environmental baseline / report: [________________]

Rules and regulations change process: [________________]

8. Construction, Alterations, and Liens

9. Maintenance, Repair, and Services

Access for inspection and repair: [________________]

Nonpossessory cure procedure: [________________]

A cure clause must not authorize lockout, removal, essential-service interruption, or interference with possession unless the completed authority gate supports that action.

10. Assignment, Sublease, and Transfers

11. Insurance, Indemnity, and Risk

Indemnified persons, covered claim types, causation, fault, defense, settlement, and exclusions: [________________]

Waiver of subrogation and policy endorsement: [________________]

Damage exclusions / liability cap and exceptions: [none / ________________]

Casualty and condemnation procedure: [________________]

12. Defaults and Remedies

The completed remedy plan must distinguish:

• contractual notice and cure;
• termination of the lease or right of possession;
• a court action or other lawful possession route;
• monetary damages, acceleration, mitigation, and offsets;
• nonpossessory self-cure; and
• provisional or equitable relief.

This form does not authorize “peaceable” re-entry, lockout, utility interruption, property removal, or possession without the verified lawful process.

13. Surrender, Holdover, and End of Term

Surrender standard: [________________]

Restoration / removal election: [________________]

Inspection and punch list: [________________]

Keys, access credentials, records, and equipment: [________________]

Holdover consent, rent, and tenancy status: [________________]

Abandoned personal property procedure: [________________]

Deposit / letter-of-credit closeout: [________________]

Survival of obligations: [________________]

14. Dispute and General Terms

Governing law: [________________]

Court forum, jurisdiction, venue, and service: [________________]

☐ No arbitration

☐ Separate counsel-approved arbitration clause

☐ No contractual jury waiver

☐ Separate counsel-approved jury provision

Fees and costs: [________________]

Injunction and bond treatment: [________________]

Notices and effective event: [________________]

Estoppel, subordination, nondisturbance, and attornment: [________________]

Memorandum of lease / recordation: [________________]

Landlord transfer and release: [________________]

Amendment, waiver, assignment, severability, and integration: [________________]

Counterparts, signature method, and notarization: [________________]

15. Signatures

Landlord

Exact legal name: [________________]

By / signature: [________________]

Printed name / title: [________________]

Date: [__/__/____]

Tenant

Exact legal name: [________________]

By / signature: [________________]

Printed name / title: [________________]

Date: [__/__/____]

Required Exhibits and Schedules

☐ Legal description and premises plan

☐ Commencement memorandum

☐ Rent schedule

☐ Operating-expense definitions and exclusions

☐ Landlord work / tenant work

☐ Rules and regulations

☐ Environmental disclosure / baseline

☐ Insurance requirements

☐ Guaranty / letter of credit

☐ Form of memorandum / SNDA / estoppel

☐ Other: [________________]

Final Counsel Checklist

☐ Title, authority, superior interests, approvals, and property facts are verified.

☐ Permitted use, zoning, licensing, accessibility, building, fire, and environmental issues are cleared.

☐ Premises, delivery, term, rent, expenses, deposit, work, services, and restoration are complete.

☐ Assignment, insurance, indemnity, casualty, condemnation, and risk terms are transaction-specific.

☐ Default and remedy language follows the current Delaware possession route and bankruptcy limits.

☐ No fixed 10% interest, 5% late fee, 30-day deposit rule, rent acceleration, peaceable re-entry, no-bond injunction, or rent-based landlord liability cap remains.

☐ No residential rule was applied without a coverage analysis.

☐ Signature, notarization, memorandum, lender, tax, and closing requirements are complete.

☐ Unused options and drafting notes were deleted.