COMMERCIAL LEASE AGREEMENT

(New Hampshire)

[// GUIDANCE: This template is structured for a single-tenant commercial lease of real property located in the State of New Hampshire (“NH”).
Customize all bracketed items and confirm compliance with local municipal ordinances, zoning regulations, and any lender requirements before execution.]

TABLE OF CONTENTS

1. Document Header
2. Definitions
3. Lease of Premises; Term
4. Rent and Additional Charges
5. Security Deposit
6. Use of Premises; Compliance with Law
7. Maintenance, Repairs, and Alterations
8. Insurance
9. Environmental Matters
10. Assignment and Subletting
11. Representations and Warranties
12. Covenants
13. Events of Default
14. Landlord’s Remedies
15. Risk Allocation; Indemnification; Liability Limitations
16. Damage or Destruction
17. Condemnation
18. Dispute Resolution
19. General Provisions
20. Execution Block

1. DOCUMENT HEADER

This Commercial Lease Agreement (this “Lease”) is made and entered into as of [EFFECTIVE DATE] (the “Effective Date”) by and between:

1. “[LANDLORD LEGAL NAME],” a [STATE & TYPE OF ENTITY] with a principal business address at [ADDRESS] (“Landlord”); and
2. “[TENANT LEGAL NAME],” a [STATE & TYPE OF ENTITY] with a principal business address at [ADDRESS] (“Tenant”).

Landlord leases to Tenant, and Tenant leases from Landlord, the Premises (as defined below) upon the terms, covenants, and conditions set forth herein, for valuable consideration, the receipt and sufficiency of which are acknowledged.

2. DEFINITIONS

For ease of reference, capitalized terms used in this Lease have the meanings set forth below:

“Additional Rent” – All monetary obligations of Tenant under this Lease other than Base Rent, including but not limited to Operating Expenses, Taxes, insurance premiums, utilities, late charges, and reimbursements.

“Base Rent” – The fixed rental amount payable pursuant to Section 4.1.

“Building” – The building located on the Land and commonly known as [BUILDING NAME/ADDRESS].

“Commencement Date” – The first day of the Lease Term as determined under Section 3.2.

“Event of Default” – Any of the events enumerated in Section 13.

“Hazardous Materials” – Any substances defined, listed, or regulated as “hazardous,” “toxic,” “pollutant,” or “contaminant” (or words of similar import) under applicable Environmental Laws.

“Land” – The parcel(s) of real property situate in the City/Town of [MUNICIPALITY], County of [COUNTY], State of New Hampshire, more particularly described in Exhibit A.

“Lease Term” – The Initial Term together with any properly exercised Renewal Term(s).

“Operating Expenses” – All costs and expenses incurred by Landlord in the ownership, operation, maintenance, repair, and replacement of the Building and Common Areas, as more fully described in Exhibit B.

“Premises” – Collectively, the Land, Building, and all improvements, appurtenances, and fixtures thereon, or such portion thereof identified in Exhibit A-1 (if a multi-tenant building).

“Renewal Term” – Each successive extension of the Lease Term elected by Tenant under Section 3.3.

“Taxes” – All real property taxes, assessments, and governmental charges levied against the Premises.

Other capitalized terms are defined in the body of this Lease.

3. LEASE OF PREMISES; TERM

3.1 Lease Grant. Landlord hereby leases the Premises to Tenant, and Tenant hereby accepts such lease, subject to the terms of this Lease and all matters of record.

3.2 Commencement & Expiration.
(a) Commencement Date. The Lease Term shall commence on the earlier of (i) [DATE CERTAIN], or (ii) the date Tenant first occupies the Premises for business (“Commencement Date”).
(b) Expiration Date. The Lease shall expire at 11:59 p.m. local NH time on [EXPIRATION DATE], unless sooner terminated as provided herein.

3.3 Renewal Options. Tenant shall have [NUMBER] option(s) to renew the Lease for successive periods of [X] years each (each, a “Renewal Term”) upon:
(i) 180-day written notice prior to the then-current Expiration Date;
(ii) no existing Event of Default; and
(iii) agreement on Market Rent (as defined in Exhibit C).

3.4 Possession. If Landlord fails to deliver possession by [OUTSIDE DELIVERY DATE], Tenant may, as its sole remedy, terminate this Lease by written notice before possession is delivered, and Landlord shall promptly refund any prepaid sums.

4. RENT AND ADDITIONAL CHARGES

4.1 Base Rent. Tenant shall pay to Landlord, without offset or deduction, the annual Base Rent of $[AMOUNT], payable in equal monthly installments of $[AMOUNT] in advance on the first day of each calendar month.

4.2 Adjustments. Commencing on each anniversary of the Commencement Date, Base Rent shall increase by the greater of (i) [X]% or (ii) the percentage increase in CPI-U for the prior 12-month period.

4.3 Additional Rent. Tenant shall pay Additional Rent as provided in Exhibit B.

4.4 Late Charge; Interest. Any sum not paid within five (5) days after due shall bear interest at the lesser of (i) [X]% per annum or (ii) the maximum rate permitted by NH law. Landlord may also assess a late charge of [X]% of the overdue amount to cover administrative costs.

[// GUIDANCE: Confirm NH usury limitations before inserting an interest rate.]

5. SECURITY DEPOSIT

Tenant shall deposit with Landlord $[AMOUNT] (“Security Deposit”) upon execution of this Lease. Landlord may commingle the Security Deposit with other funds and shall have the right, but not the obligation, to apply all or part of it to cure Tenant defaults. Any unapplied balance shall be returned within [30] days after Tenant has vacated the Premises and satisfied its obligations, less any lawful deductions.

6. USE OF PREMISES; COMPLIANCE WITH LAW

6.1 Permitted Use. Tenant shall use the Premises solely for [SPECIFIC USE] and for no other purpose without Landlord’s prior written consent.

6.2 Legal Compliance. Tenant, at its sole cost, shall comply with all federal, state (including New Hampshire), and local statutes, regulations, and ordinances applicable to Tenant’s use and occupancy, including fire, building, accessibility, zoning, and Environmental Laws.

6.3 Prohibited Acts. Tenant shall not (i) commit waste, (ii) create a nuisance, (iii) permit illegal activities, or (iv) use or permit the Premises to be used in any manner that would increase insurance premiums or void coverage.

6.4 Commercial Eviction Procedures. Tenant acknowledges that, upon an Event of Default, Landlord may pursue summary possession and writ of possession proceedings as provided under applicable NH law, in addition to contractual remedies herein.

7. MAINTENANCE, REPAIRS, AND ALTERATIONS

7.1 Tenant’s Obligations. Tenant shall, at its expense, keep and maintain the Premises (including all HVAC, plumbing, electrical, and mechanical systems exclusively serving the Premises) in good order and repair, reasonable wear and tear excepted.

7.2 Landlord’s Obligations. Landlord shall maintain the structural elements (foundation, roof, load-bearing walls) and Common Areas, except to the extent damage is caused by Tenant.

7.3 Alterations.
(a) Consent. Tenant shall not make any Alterations without Landlord’s prior written consent, which consent shall not be unreasonably withheld, conditioned, or delayed.
(b) Restoration. Upon Lease termination, Tenant shall, at Landlord’s election, remove Alterations and restore the Premises to original condition, reasonable wear and tear excepted.

8. INSURANCE

8.1 Tenant’s Insurance. Tenant shall maintain, at its cost and throughout the Lease Term:
(i) Commercial General Liability Insurance with limits of not less than $[1,000,000] per occurrence and $[2,000,000] aggregate;
(ii) Property Insurance on a “special form” basis covering Tenant’s personal property and improvements, in an amount not less than full replacement cost; and
(iii) Workers’ Compensation Insurance as required by law.

8.2 Landlord’s Insurance. Landlord shall maintain property insurance covering the Building (excluding Tenant’s property) at replacement cost value and liability insurance covering Common Areas.

8.3 Certificates. Each party shall deliver certificates of insurance and endorsements naming the other party (and any lender) as additional insured (liability) and loss payee (property) before occupancy and upon renewals.

9. ENVIRONMENTAL MATTERS

9.1 Compliance. Tenant shall handle, store, use, and dispose of all Hazardous Materials in compliance with Environmental Laws.

9.2 Prohibitions. Tenant shall not introduce Hazardous Materials to the Premises except those customarily used and stored in quantities typical for the Permitted Use and strictly in accordance with law.

9.3 Indemnity. Tenant shall indemnify, defend, and hold harmless Landlord from and against all claims, costs, fines, and liabilities arising from Tenant’s breach of this Section 9 or the presence of Hazardous Materials introduced by Tenant, its employees, agents, or contractors.

9.4 Environmental Inspections. Landlord may, upon reasonable notice (except in emergency), conduct environmental audits or inspections of the Premises. Tenant shall promptly address any deficiencies revealed.

[// GUIDANCE: Consider adding Phase I/Phase II reporting obligations for heavy industrial uses.]

10. ASSIGNMENT AND SUBLETTING

10.1 Landlord Consent. Tenant shall not assign this Lease or sublet all or any portion of the Premises without Landlord’s prior written consent, which shall not be unreasonably withheld if:
(i) the proposed transferee has creditworthiness and experience comparable to Tenant;
(ii) the proposed use is the same as or compatible with Permitted Use; and
(iii) Tenant is not in default.

10.2 Recapture Right. Landlord may elect to recapture the subject space in lieu of consenting, by notice within fifteen (15) days after Tenant’s request, except in connection with a Permitted Transfer.

10.3 Permitted Transfers. Tenant may assign this Lease, upon prior notice but without consent, to (i) an Affiliate, or (ii) a successor entity resulting from merger, consolidation, or sale of substantially all of Tenant’s assets, provided the successor has a net worth at least equal to Tenant’s as of the Effective Date.

10.4 No Release. Any assignment or sublease shall not release Tenant from its obligations unless Landlord expressly agrees in writing.

10.5 Transfer Premium. Fifty percent (50%) of any net profits received by Tenant from a sublease or assignment (after reasonable transaction costs) shall be paid to Landlord within ten (10) days of receipt.

11. REPRESENTATIONS AND WARRANTIES

11.1 Mutual. Each party represents and warrants that:
(a) it is duly organized, validly existing, and in good standing in its state of formation and authorized to do business in NH;
(b) it has full power and authority to enter into and perform this Lease;
(c) the execution and performance of this Lease have been duly authorized; and
(d) this Lease constitutes a legal, valid, and binding obligation enforceable against such party in accordance with its terms.

11.2 Survival. The representations and warranties in this Section 11 shall survive the execution of this Lease.

12. COVENANTS

12.1 Quiet Enjoyment. So long as Tenant is not in default, Landlord shall provide peaceful and quiet enjoyment of the Premises, subject to the terms of this Lease.

12.2 Estoppel Certificates. Each party shall, within ten (10) business days after request, execute and deliver an estoppel certificate certifying such reasonably requested factual matters.

12.3 Access. Landlord and its agents may enter the Premises upon reasonable notice (except in emergency) to inspect, repair, maintain, or show the Premises to prospective purchasers, lenders, or tenants.

12.4 Signs. Tenant shall not install signage visible from the exterior without Landlord’s prior written approval, not to be unreasonably withheld.

12.5 Notice of Legal Actions. Tenant shall promptly notify Landlord of any litigation, administrative action, or governmental investigation relating to the Premises.

13. EVENTS OF DEFAULT

Each of the following constitutes an “Event of Default”:
(a) failure to pay any installment of Rent within five (5) days after written notice of non-payment (provided that Landlord shall be required to give such notice only twice in any 12-month period);
(b) failure to perform any non-monetary obligation within thirty (30) days after written notice specifying the failure, unless such failure cannot reasonably be cured within thirty (30) days, in which case Tenant shall commence cure within such period and diligently pursue it to completion;
(c) abandonment or vacating of the Premises for more than thirty (30) consecutive days;
(d) making a fraudulent transfer or assignment for the benefit of creditors, entry of an order for relief under bankruptcy laws, or appointment of a receiver for Tenant’s assets not dismissed within sixty (60) days; or
(e) any representation or warranty of Tenant proving materially false as of the Effective Date.

14. LANDLORD’S REMEDIES

Upon an Event of Default, Landlord may, subject to applicable NH commercial eviction procedures:

14.1 Terminate Lease. Terminate this Lease and recover (i) all unpaid Rent accrued to the date of termination, (ii) the present value of Rent for the remainder of the Lease Term, less reasonable mitigation, and (iii) all other sums due.

14.2 Re-Entry. Re-enter and regain possession, with or without terminating this Lease, and re-let the Premises on Tenant’s account.

14.3 Self-Help. Perform Tenant obligations and charge Tenant the cost plus [10]% administrative fee.

14.4 Landlord’s Lien / Distress. Exercise any statutory or contractual landlord’s lien permissible under NH law.

14.5 Attorneys’ Fees. Recover reasonable attorneys’ fees and costs incurred in enforcing this Lease.

[// GUIDANCE: NH recognizes contractual fee-shifting; ensure reciprocity to avoid unconscionability.]

15. RISK ALLOCATION; INDEMNIFICATION; LIABILITY LIMITATIONS

15.1 Tenant Indemnity. Tenant shall indemnify, defend, and hold harmless Landlord, its members, employees, and agents from and against any and all claims, losses, liabilities, damages, and expenses (including attorneys’ fees) arising out of (i) Tenant’s use or occupancy of the Premises, (ii) Tenant’s breach of this Lease, or (iii) the negligence or willful misconduct of Tenant or its agents, employees, or invitees.

15.2 Landlord Indemnity. Landlord shall indemnify, defend, and hold harmless Tenant from and against claims arising from the gross negligence or willful misconduct of Landlord or its agents.

15.3 Limitation of Liability. EXCEPT FOR (i) EACH PARTY’S INDEMNITY OBLIGATIONS, (ii) TENANT’S PAYMENT OBLIGATIONS, AND (iii) DAMAGES CAUSED BY GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY INDIRECT, SPECIAL, OR CONSEQUENTIAL DAMAGES. Landlord’s aggregate liability shall not exceed [X] months of Base Rent. [Bracket and negotiate as desired.]

15.4 Waiver of Claims. Each party releases the other, and its insurers shall waive subrogation, for any loss covered (or required to be covered) by property insurance.

15.5 Force Majeure. Neither party shall be liable for delays or failures in performance (other than payment of Rent) due to causes beyond its reasonable control, including acts of God, war, terrorism, pandemics, strikes, or governmental orders.

16. DAMAGE OR DESTRUCTION

16.1 Restoration. If the Premises are damaged by fire or other casualty, Landlord shall, subject to insurance proceeds and lender approval, restore the Premises to substantially the same condition; Base Rent shall abate proportionately during restoration.

16.2 Termination Rights. Either party may terminate this Lease by notice within thirty (30) days after casualty if (i) restoration is reasonably estimated to exceed [180] days, or (ii) the casualty occurs during the final [X] months of the Lease Term.

17. CONDEMNATION

If the Premises are materially and permanently taken by eminent domain, this Lease shall terminate as of the date of taking. All awards shall belong to Landlord, except Tenant may seek relocation costs and removal expenses permitted by law.

18. DISPUTE RESOLUTION

18.1 Governing Law. This Lease shall be governed by and construed in accordance with the laws of the State of New Hampshire, without regard to conflicts-of-law principles.

18.2 Forum Selection. Any action arising under this Lease shall be filed exclusively in the state courts located in [COUNTY], New Hampshire.

18.3 Arbitration. [OPTIONAL – check box] ☐ If selected, the parties agree to resolve all disputes (other than eviction and equitable relief) by binding arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules. The site of arbitration shall be [CITY], NH. Judgment on the award may be entered in any court of competent jurisdiction.

18.4 Jury Trial Waiver. [OPTIONAL – check box] ☐ EACH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS RIGHT TO A TRIAL BY JURY IN ANY ACTION ARISING OUT OF THIS LEASE.

18.5 Injunctive Relief. Nothing in this Section shall limit either party’s right to seek provisional or equitable relief in a court of competent jurisdiction, including eviction or specific performance.

19. GENERAL PROVISIONS

19.1 Amendments; Waivers. No amendment or waiver shall be effective unless in writing signed by both parties. A waiver on one occasion is not a waiver on subsequent occasions.

19.2 Notices. All notices shall be in writing and deemed given when (i) delivered personally, (ii) sent by nationally recognized overnight courier with signature required, or (iii) sent by certified U.S. mail, return receipt requested, to the parties’ notice addresses set forth below (or as updated by notice).

19.3 Entire Agreement. This Lease, including Exhibits, constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and agreements.

19.4 Severability. If any provision is held invalid, the remainder shall remain in full force, and the invalid provision shall be reformed to accomplish its purpose to the maximum extent lawful.

19.5 Successors and Assigns. This Lease shall bind and benefit the parties and their respective permitted successors and assigns.

19.6 Relationship of Parties. Nothing herein creates a partnership or joint venture.

19.7 Counterparts; Electronic Signatures. This Lease may be executed in counterparts, each of which is an original, and all of which constitute one document. Signatures delivered by electronic means (e.g., PDF, DocuSign) are deemed originals.

20. EXECUTION BLOCK

IN WITNESS WHEREOF, the parties have executed this Lease as of the Effective Date.

LANDLORD:
[LANDLORD LEGAL NAME]
By: ____
Name: ____
Title: _____
Date: _________

TENANT:
[TENANT LEGAL NAME]
By: ____
Name: ____
Title: _____
Date: _________

[NOTARY ACKNOWLEDGMENTS – attach as required under NH RSA 456 or corresponding successor statute.]

EXHIBIT A

Legal Description of Land

EXHIBIT A-1 (If applicable)

Floor Plan of Premises

EXHIBIT B

Operating Expense and Additional Rent Allocation Procedures

EXHIBIT C

Market Rent Determination for Renewal Terms

[// GUIDANCE:
1. File any memorandum of lease in the county registry only if lender or local practice requires, avoiding recording the full Lease to protect confidentiality.
2. Confirm with counsel whether RSA 540 applies to the subject property; most NH commercial tenancies are governed primarily by contract law with summary process available under RSA 540-A et seq. (verify current statutes).
3. Verify municipal code compliance for signage, parking, and fire suppression systems.
4. Consider adding mortgagee protection clauses if the Premises are encumbered.
5. Provide Tenant with a lead-based paint disclosure only if the Premises include target housing built before 1978 (unlikely in most commercial contexts).]