RE700 - Commercial Triple Net Lease (Single Tenant)
RE700 - Commercial Triple Net Lease (Single Tenant)
RE700 - Commercial Triple Net Lease (Single Tenant)
(Single Tenant)
This LEASE AGREEMENT (the “Lease”) is made and entered into this __ day of ________, 20__ (the “Effective
Date”), by and between_______________________________________________________, (“Landlord”) and
_______________________________________________________, (“Tenant”) for the hereinafter described
Premises, and in consideration of the mutual promises contained herein. It is expressly understood and agreed that this
Lease creates the relationship of Landlord and Tenant. This Lease creates a usufruct and is not intended to create an
estate for years or transfer any ownership interest in the Premises to Tenant.
1. PREMISES LEASED
Landlord hereby Leases to Tenant and Tenant leases from Landlord the land, described as follows: [check all that
apply]
o property address: __________________________________________________________________;
o more particularly described on the Legal Description Exhibit attached hereto;
o identical to the legal description for the property contained in the deed recorded in Deed Book
_________, Page ____________, et seq., _________________ County, Georgia records;
o Land Lot(s) _____________________ of the ______________ District, _____________ Section/
GMD, Lot ___, Block ________, Unit ___________________, Phase/Section___________ of
__________ Subdivision /Development, _____________ County, Georgia according to the plat
recorded in Plat Book _________________, Page ________________, et seq., ___________ County,
Georgia records;
together with all permits, privileges, rights, members, and appurtenances thereto and together with all buildings,
improvements and fixtures located thereon (the "Premises").
2. PROPERTY MANAGEMENT
From time to time, and at the Landlord’s sole discretion, Landlord may engage the services of an agent or property
manager (“Property Manager”), the terms of whose relationship with Landlord shall be set forth in a separate
Property Management Agreement, to assist in the enforcement of Landlord’s rights under this Lease, including, but
not limited to the collection of rents, processing rental applications, assisting with repairs, holding security deposits,
etc. Landlord shall provide Tenant with written notice, within no less than five (5 )banking days, of the engagement
of any such Property Manager or of any change in the designated Property Manager.
The Property [check one]:
o IS currently managed by a Property who is authorized to enforce the terms of and sign this Lease on
behalf of Landlord; or
o IS NOT currently managed by a Property Manager.
3. TERM OF LEASE
The initial term of the Lease shall commence as of the Effective Date and shall continue for ___ months, unless
terminated sooner as provided in this Lease (together with any Extension Term(s) [as defined below], the “Term”).
Unless extended or sooner terminated as provided herein, this Lease shall expire on _____________. If Tenant remains
in possession of the Premises following the expiration of the Term without Landlord’s written consent, then Tenant shall
be deemed a tenant at sufferance and shall continue to pay rentals and other sums required under this Lease at a rate
equal to two hundred percent (200%) of the current rental rate immediately prior to the expiration of the Term, and
Tenant shall continue to comply with all terms and conditions of this Lease. If Tenant remains in possession of the
Premises following expiration of the Term with Landlord’s written consent, Tenant shall be deemed a tenant on a month-
to-month basis and shall continue to pay rentals and other sums required under this Lease at a rate equal to one
hundred and fifty percent (150%) of the current rental rate immediately prior to the expiration of the Term, and Tenant
shall continue to comply with all terms and conditions of this Lease. Nothing contained within this Section, nor the
acceptance of any rent or other sums by Landlord from Tenant, shall be deemed Landlord’s consent to Tenant’s
holding over. Tenant shall indemnify Landlord and Landlord’s representatives, agents, directors, officers, shareholders,
trustees, beneficial owners, partners, members, employees, affiliates, subsidiaries, and successors and assigns
(collectively, “Landlord Related Parties”) from any and all claims, losses, and damages, including, without limitation,
consequential damages, resulting from Tenant’s failure to surrender possession of the Premises at the expiration of the
Term. This Section shall survive the expiration or earlier termination of the Lease.
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Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
Copyright© 2015 by Orthrus Real Estate Enterprises, LLC. All rights reserved.
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4. RENEWAL OF LEASE
Provided there is no on-going Event of Default (as defined herein), Tenant shall have the right, at its option, to renew this
Lease for __ additional successive periods of ____________ (each, an “Extension Term”). Tenant shall exercise its
right to renew by giving Landlord written notice of its intent to do so no less than sixty (60) days prior to the expiration of
the Term. If Tenant fails to give Landlord notice pursuant to this Section, then Tenant shall not have any further right to
renew the Lease. Within thirty (30) days of receipt of Tenant’s notice to renew, Landlord shall present Tenant with terms
to adjust the Base Rent in accordance with the then-current market rate for similar space in the ___________, Georgia
area (the “Extension Terms”). Landlord and Tenant agree to negotiate in good faith and attempt to agree on the
Extension Terms. If Landlord and Tenant are able to come to an agreement within thirty (30) days after Landlord has
presented Tenant with the Extension Terms, then Landlord and Tenant shall enter into an amendment to this Lease
setting forth the Extension Terms therein. If Landlord and Tenant are unable to come to an agreement within thirty (30)
days after Landlord has presented Tenant with the Extension Terms, then Tenant shall elect either to (i) withdraw its
notice to extend and this Lease shall terminate at the expiration of the Term, or (ii) accept Landlord’s last offer regarding
the Extension Terms, in which case Landlord and Tenant shall enter into an amendment to this Lease setting forth the
Extension Terms therein. Upon expiration of this Lease, the parties shall have no further rights and obligations with
respect to one another except for those rights and obligations which expressly survive the expiration of the Lease by their
own terms as set forth in this Lease.
6. RENT
Tenant shall pay to Landlord, without any deduction or set-off whatsoever, base rent in the amount of $___________,
payable in advance on the first day of each month during the first twelve (12) months of this Lease (the “Base Rent”).
Base Rent and other sums due to Landlord under this Lease are collectively referred to herein as “Rent.” If the Effective
Date is on any day of the month other than the payment date expressed in this Section, Rent will be prorated until the
st
next regularly scheduled payment date. On the first (1 ) anniversary of the Effective Date and every anniversary
thereafter until the expiration of the Term, Base Rent shall increase according to the following schedule:
Period Base Rent per Square Foot Monthly Installment Annual Base Rent
If Tenant fails to pay Rent within three (3) business days of the date when due, a late charge in the amount of
US$_____________ will be due and payable immediately by Tenant to Landlord. The first installment of Base Rent
shall be due upon execution of this Lease.
Landlord and Tenant acknowledge and agree that the Rent payable hereunder shall be net to Landlord, such that this
Lease shall yield to Landlord the Rent specified herein and all costs, expenses, and obligations of every kind and nature
whatsoever relating to the operation, maintenance, repair, restoration, and replacement of the Premises and all
improvements and appurtenances thereto shall be paid by Tenant, including, without limitation, those costs and
expenses related to taxes and insurance as provided elsewhere in this Lease. So long as Tenant shall pay Rent and
other sums required under this Lease and shall keep and perform all of the terms, covenants, and conditions on its part
herein contained, Tenant shall have the right to the peaceful and quiet occupancy of the Premises.
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Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
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7. SECURITY DEPOSIT
7.1. Deposit of Funds- Tenant [check one] o HAS or o HAS NOT paid a refundable security deposit as of
the date of this Lease, and if not, then Tenant shall pay the refundable security deposit in the amount of
US$______________ (the “Security Deposit”) within _____ days of the execution of this Lease, which Security
Deposit shall be held by [check one] o Landlord, or o Other: ________________________________
______________________ (the “Escrow Agent”). The Security Deposit shall be deposited within five (5)
banking days in an interest bearing or non-interest bearing bank account established only for that purpose
located at __________________________ _____________________________________. If deposited into
an interest bearing account, the holder of the security deposit shall be entitled to retain any interest accrued. If
the Escrow Agent or Landlord is a Georgia real estate licensee, the Security Deposit shall be deposited into a
trust account that is registered with the Georgia Real Estate Commission and is in compliance with the rules
and regulations of the Georgia Real Estate Commission.
7.2. Transfer of Funds- Landlord shall have the right, after ten (10) banking days’ written notice to Tenant and
Escrow Agent, to transfer the Security Deposit to another holder and designate a new Escrow Agent, provided
that if Escrow Agent is a Georgia real estate licensee, the Tenant shall agree in writing.
7.3. No Offset of Rental Payments – The Security Deposit shall not be considered an advance payment of
Rent or a measure of Tenant’s liability for damages as a result of an Event of Default. Tenant shall not have the
right to offset any rental payment or any other fee due under this Lease against the Security Deposit. Landlord
may, from time to time, without prejudice to any other remedy and without waiving such default, use the Security
Deposit to the extent necessary to cure or attempt to cure, in whole or in part, any Event of Default by Tenant
under the Lease. Following any such application of the Security Deposit, Tenant shall pay to Landlord on
demand the amount so applied in order to restore the Security Deposit to its original amount.
7.4. Return of Funds-The Security Deposit shall be returned to Tenant at the Tenant’s last known mailing
address via first class U.S. mail, postage prepaid, within thirty (30) days following the expiration of this Lease if
all monies due Landlord have been paid, the Tenant has vacated the Property, and Tenant is not in default
under the terms of this Lease. Landlord shall be entitled to withhold from the Security Deposit any sums still
owed under this Lease, including, but not limited to, final rent payments, amounts owed for repairs (normal
wear and tear excepted), amounts paid by Landlord to remove Tenant’s personal property, delinquent utility bills
paid on behalf of Tenant, or cleaning fees due to Tenant’s failure to return the Property to Landlord in the same
degree of cleanliness it was in when Tenant took occupancy of the Property (normal wear and tear excepted).
The Security Deposit shall become the property of the Landlord ninety (90) days after the letter is mailed if the
letter is returned as undeliverable, and if Landlord’s reasonable attempts to locate the Tenant have failed.
7.5. Liability of Escrow Agent- It is agreed that the duties of Escrow Agent are herein specifically provided and
are purely ministerial in nature, and that Escrow Agent, so long as Escrow Agent is acting in good faith, shall
incur no liability whatsoever with respect to the Security Deposit except for willful misconduct or negligence.
Landlord and Tenant do each hereby release Escrow Agent from any liability for any error of judgment or for
any act done or omitted to be done by Escrow Agent in the good faith performance of its duties hereunder and
do each hereby indemnify Escrow Agent against, and agree to hold, save, and defend Escrow Agent harmless
from, any costs, liabilities, and expenses incurred by Escrow Agent in serving and faithfully discharging its duties
and obligations hereunder.
In the event a dispute arises between the parties regarding the final disbursement of the Security Deposit, the
Escrow Agent may, upon written notice to the parties:
7.5.1. disburse the funds based upon a reasonable interpretation of this Lease; or
7.5.2. bring an appropriate action or proceeding in a court of competent jurisdiction for leave to deposit
the Security Deposit, less the costs and expenses of the interpleader action actually incurred by Escrow
Agent, including reasonable attorney fees. If Escrow Agent elects to interplead the Security Deposit, the
Escrow Agent shall first give the parties ten (10) banking days’ advance written notice.
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Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
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year’s actual assessments and shall be adjusted annually by Landlord after delivering a written statement to Tenant
of the amount assessment in the previous tax year. For the purposes of this Lease, a “Lease Year” shall mean a full
calendar year, and the first Lease Year shall include the partial year beginning on the Effective Date. If in any Lease
Year taxes actually paid or incurred by Landlord shall exceed the amount of such taxes which became due and
payable in the previous year, Tenant shall pay as additional rent for such Lease Year such excess amount within 30
days of receipt from Landlord of a written statement providing such amount. If in any Lease Year taxes paid or
incurred shall be less than the estimated payments for the calendar year previously made by the Tenant, Landlord
will pay Tenant the amount of the overpayment within thirty (30) days after delivery of said statement. If the Lease
commences on a day other than the first day of the calendar year or ends on a day other than the last day of a
calendar year, the Additional Rent shall be prorated.
9. UTILITIES
Tenant shall contract, in its own name, for and pay when due all charges for the connection and use of water, gas,
electricity, telephone, garbage collection, sewer use, and other utility services supplied to the Premises during the Term.
Under no circumstances shall Landlord be responsible for any interruption of any utility service unless the interruption is
the result of the acts of Landlord’s direct contractors or employees and the interruption lasts more than 48 hours.
10. INSURANCE
10.1. Throughout the Term, Tenant shall maintain with respect to the Premises, at its sole expense, the
following types and amounts of insurance:
10.1.1. Insurance against loss, damage or destruction by fire and other casualty, including theft, vandalism
and malicious mischief, flood (if the Premises are in a location designated by the Federal Emergency
Management Administration as a Special Flood Hazard Area), earthquake (if the Premises are in an area
subject to destructive earthquakes within recorded history), boiler explosion (if the Premises contain a
boiler), plate glass breakage, sprinkler damage (if the Premises have a sprinkler system), all matters
covered by a standard extended coverage endorsement, special coverage endorsement commonly known
as an “all-risk” endorsement and such other risks as Landlord may reasonably require, insuring the
Premises for not less than 100% of their full insurable replacement cost with an “agreed amount”
endorsement.
10.1.2. Commercial general liability and property damage insurance written on an occurrence form,
covering Landlord and Tenant against bodily injury liability and property damage liability, including without
limitation any liability arising out of the ownership, maintenance, repair, condition or operation of the
Premises or adjoining ways, streets or sidewalks and, if applicable, insurance covering Landlord and
Tenant against liability arising from the sale of liquor, beer or wine on the Premises. Such insurance shall
cover at least the following hazards: (a) premises and operations, (b) products and completed operations,
(c) personal injury and advertising injury, (d) independent contractors, (e) blanket contractual liability for all
written and oral contracts, and (f) contractual liability covering the indemnities contained in this Lease, to the
extent the same is available. Such insurance shall be in amounts of not less than $_______________ per
occurrence with respect to any insured liability, whether for personal injury or property damage, or such
higher limits as Landlord may reasonably require from time to time, and shall be of form and substance
satisfactory to Landlord with a per location aggregate of not less than $_______________. Such insurance
shall provide that the general aggregate limits apply separately to each insured location. If Tenant’s liability
policies do not contain the standard ISO separation of insureds provision, or a substantially similar clause,
they shall be endorsed to provide cross-liability coverage.
10.1.3. Business income insurance or rental interruption insurance, as requested by Landlord, without a
provision for co-insurance, in an amount equal to 100% of the Base Rent for a period of not less than
twelve consecutive calendar months.
10.1.4. State Worker’s compensation insurance in the statutorily mandated limits, employer’s liability
insurance with limits not less than $500,000 or such greater amount as Landlord may from time to time
require and such other insurance as may be necessary to comply with applicable laws.
10.1.5. During any period of construction, restoration, reconstruction, rehabilitation, replacement or
alteration to the Premises, builder’s risk insurance in so-called non-reporting form upon all buildings,
improvements and related appurtenances while under construction in an amount and with coverage
approved by Landlord in its reasonable discretion but only to the extent that such coverage is not being
maintained by Tenant’s contractor(s) pursuant to a policy or policies that satisfy this requirement.
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Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
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10.1.6. Building ordinance coverage, including demolition and increased cost of construction and
contingent operation from building laws coverage. “Coverage A” of such coverage shall be written for an
amount equal to the full insurable replacement cost of the building. “Coverage B” of such coverage shall
be written for an amount not less than $250,000. “Coverage C” of such coverage shall be written for an
amount not less than $1,000,000.00.
10.1.7. Automobile liability with a limit of not less than One Million Dollars ($1,000,000.00) for each
accident, with such insurance covering liability arising out of any automobile used in the furtherance of
Tenant’s business interests, including owned, hired and non-owned automobiles.
10.1.8. Such other insurance as may from time to time be reasonably required by Landlord in order to
protect its interests with respect to the Premises.
10.3. IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT THE FOREGOING MINIMUM LIMITS OF
INSURANCE COVERAGE SHALL NOT LIMIT THE LIABILITY OF TENANT FOR ITS ACTS OR OMISSIONS
AS PROVIDED IN THIS LEASE. All insurance policies (with the exception of worker’s compensation insurance
to the extent not available under statutory law), shall designate Landlord and Lender and their respective
successors and assigns as loss payees and additional insureds, and shall be payable as set forth herein. All
such policies shall be written as primary policies, with deductibles and self-insured retentions not to exceed 5%
of the amount of coverage. Any other policies, including any policy now or hereafter carried by Landlord or
Lender, shall serve as excess coverage. Tenant shall procure policies for all insurance for periods of not less
than one year and shall provide to Landlord and Lender certificates of liability insurance using an ACORD 25
form and an ACORD 28 form to provide proof of property insurance or, upon the request of Landlord or Lender,
duplicate originals of insurance policies evidencing that insurance satisfying the requirements of this Lease is in
effect at all times. Additionally, before entering the Premises, Tenant shall deliver such certificates to Landlord.
In the event of any transfer by Landlord of Landlord’s interest in the Premises or any financing or refinancing of
Landlord’s interest in the Premises, Tenant shall, upon not less than ten (10) days’ prior written notice, deliver to
Landlord or any Lender providing such financing or refinancing, as the case may be, certificates of all insurance
required to be maintained by Tenant hereunder naming such transferee or such Lender, as the case may be,
as an additional named insured to the extent required herein effective as of the date of such transfer, financing
or refinancing.
10.4. If Tenant fails to procure insurance as required in this Section and fails to maintain the same in full force
and effect throughout the Term and any Extension Term, then Landlord shall be entitled to procure the same
and Tenant shall, within two (2) business days after demand therefor, reimburse Landlord for such premium
expense plus 10% as Rent.
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Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
Copyright© 2015 by Orthrus Real Estate Enterprises, LLC. All rights reserved.
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10.5. By requiring insurance herein, Landlord does not represent that coverage and limits will necessarily be
adequate to protect Tenant, and such coverage and limits shall not be deemed as a limitation of Tenant’s
liability under any indemnification provisions in this Lease. Failure of Landlord to demand such certificate or
other evidence of full compliance with these insurance requirements or failure of landlord to identify a deficiency
from evidence that is provided shall not be construed as a waiver of Tenant’s obligation to maintain such
insurance.
13. COMPLIANCE WITH LAWS Tenant shall, at its sole cost and expense, comply with all federal, state, and local
laws, restrictions, covenants, conditions, agreements, and encumbrances of record, including, without limitation, the
Americans With Disabilities Act and all Environmental Laws. Tenant shall not store or use a Hazardous Material on,
under, at, or from the Premises, except as required for Tenant’s Permitted Use and in compliance with all Environmental
Laws. Tenant shall not release (a “Release”) or transport a Hazardous Material on, under, at, or from the Premises,
except as required for Tenant’s Permitted Use and in compliance with all Environmental Laws. Tenant shall promptly
notify Landlord and report to Governmental Authorities (as defined below), if required under the Environmental Laws,
any Release or threatened Release, contamination, or notice thereof. This Section shall survive the expiration or earlier
termination of the Lease. For purposes herein, “Environmental Laws” shall mean any present and future federal, state
and local laws, statutes, ordinances, rules, regulations, orders, injunctions and decrees of any governmental authority,
agency, department, commission, bureau, board, court, or quasi-governmental authority having jurisdiction or
supervisory or regulatory authority over the Premises or Tenant (the “Governmental Authorities”) and common law,
relating to Hazardous Materials and/or the protection of human health or the environment by reason of a Release or a
threatened Release of Hazardous Materials or relating to liability for or costs of Remediation or prevention of Releases.
“Environmental Laws” includes, but is not limited to, the following statutes, as amended, any successor thereto, and any
regulations, rulings, orders or decrees promulgated pursuant thereto, and any state or local statutes, ordinances, rules,
regulations, orders, injunctions and decrees of Governmental Authorities: the Comprehensive Environmental Response,
Compensation and Liability Act, 42 U.S.C. §§ 9601 et seq.; the Emergency Planning and Community Right-to-Know Act,
42 U.S.C. § 11001 et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. § 5101 et seq.; the Resource
Conservation and Recovery Act (including but not limited to Subtitle I relating to USTs), 42 U.S.C. §§ 6901 et seq.; the
Clean Water Act, 33 U.S.C. §§ 1251 et seq.; the Clean Air Act, 42 U.S.C. §§ 7401 et seq.; the Toxic Substances Control
Act, 15 U.S.C. § 2601 et seq.; the Safe Drinking Water Act, 42 U.S.C. §§ 300f et seq.; the Occupational Safety and
Health Act, 29 U.S.C. § 651 et seq.; the Federal Insecticide, Fungicide and Rodenticide Act, 7 U.S.C. §§ 136 et seq.; the
Endangered Species Act, 16 U.S.C. §§ 1531 et seq. and the National Environmental Policy Act, 42 U.S.C. § 4321 et
seq. “Environmental Laws” also includes, but is not limited to, any present and future federal, state and local laws,
statutes, ordinances, rules, regulations, orders, injunctions and decrees of Governmental Authorities and common law:
conditioning transfer of property upon a negative declaration or other approval of a Governmental Authority of the
environmental condition of the property; requiring notification or disclosure of Releases or other environmental condition
of the Premises to any Governmental Authority or other person or entity; imposing conditions or requirements relating to
Hazardous Materials in connection with permits or other authorizations required by Governmental Authorities; relating to
the handling and disposal of Hazardous Materials; relating to nuisance, trespass or other causes of action related to
Hazardous Materials; relating to the governance of use, storage, handling and disposal of medical, special and
infectious wastes; and relating to wrongful death, personal injury, or property or other damage in connection with the
physical condition or use of the Premises by reason of the presence of Hazardous Materials in, on, under or above the
Premises. For purposes herein, “Hazardous Material” shall mean (a) any toxic substance or hazardous waste,
substance, solid waste or related material, or any pollutant or contaminant, including, without limitation, any medical,
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Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
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special or infectious wastes; (b) radon gas, asbestos in any form which is or could become friable, urea formaldehyde
foam insulation, transformers or other equipment containing dielectric fluid having levels of polychlorinated biphenyls in
excess of applicable standards established by any Governmental Authority, or any petroleum product or additive; (c) any
substance, gas, material or chemical which is now or hereafter defined as or included in the definition of “hazardous
substances,” “toxic substances,” “hazardous materials,” “hazardous wastes,” “regulated substances” or words of similar
import under any Environmental Laws; and (d) any other chemical, material, gas or substance the exposure to or
release of which is prohibited, limited or regulated by any Governmental Authority that asserts or may assert jurisdiction
over the Premises or the operations or activity at the Premises, or any chemical, material, gas or substance that does or
is reasonably likely to pose a hazard to the health and/or safety of the occupants of the Premises or the owners and/or
occupants of property adjacent to or surrounding the Premises.
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Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
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Tenant shall have the right to use all parking spaces located at the Premises.
18. SUBORDINATION
This Lease is subject and subordinate to the lien of all mortgages now or at any time hereafter placed on any part of the
Premises, to extensions or renewals thereof, and to all advances now or hereafter made on the security thereof. The
parties agree that this Section is self-operative; nonetheless, Tenant shall, upon request, execute such further
instruments evidencing such subordination as Landlord may request, and if Tenant fails to do so, Landlord is
empowered to do so in the name of the Tenant.
19. ESTOPPELS
At any time, and from time to time, Tenant shall, promptly and in no event later than fifteen (15) days after a request
from Landlord, execute, acknowledge and deliver to Landlord a certificate in the form supplied by Landlord certifying: (i)
that Tenant has accepted the Premises (or, if Tenant has not done so, that Tenant has not accepted the Premises, and
specifying the reasons therefor); (ii) that this Lease is in full force and effect and has not been modified (or if modified,
setting forth all modifications), or, if this Lease is not in full force and effect, the certificate shall so specify the reasons
therefor; (iii) the commencement and expiration dates of the Term, including any Extension Term; (iv) the date to which
Rent has been paid under this Lease and the amount thereof then payable; (v) whether there are then any existing
defaults by Landlord in the performance of its obligations under this Lease, and, if there are any such defaults,
specifying the nature and extent thereof; (vi) that no notice has been received by Tenant of any default under this Lease
which has not been cured, except as to defaults specified in the certificate; (vii) the capacity of the person executing such
certificate, and that such person is duly authorized to execute the same on behalf of Tenant; (viii) that Landlord has no
actual involvement in the management or control of decision making related to the operational aspects or the day-to-day
operations of the Premises; and (ix) any other information reasonably requested by Landlord.
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about the Premises or any portion thereof or arising from or connected with the use, condition, or occupancy of the
Premises, or from any breach of this Lease by Tenant. The foregoing general indemnification obligations also apply to
matters related to Environmental Laws, Hazardous Materials, or other environmental matters concerning the Premises.
23. BROKERAGE By signing below, all parties represented by a Broker acknowledge that no Broker in this transaction
shall owe any duty to Tenant or Landlord greater than what is set forth in their brokerage engagements and the
Brokerage Relationships in Real Estate Transactions Act, O.C.G.A. § 10-6A-1 et. seq and further:
23.1. Landlord and Tenant each hereby represents and warrants to the other that he/she/they have not dealt with
any real estate Broker, agent or salesperson (other than Landlord’s Broker or Tenant’s Broker, as hereinafter
defined) so as to create any legal right or claim in any such Broker, agent or salesperson for a rental commission or
similar fee or compensation with respect to the negotiation and/or consummation of this Lease. Tenant and
Landlord acknowledge that they are not represented by a Broker unless they have signed a brokerage agreement
with said Broker. If any party hereto is not represented by a Broker, that party acknowledges full responsibility for
protecting his/ her/their own interests.
23.2. Any commission or other compensation due to a Broker shall be paid according to the terms of a separate
agreement between Broker and Tenant, Broker and Landlord, or both.
23.3. Landlord and Tenant have been advised and expressly acknowledge their obligation to conduct a thorough
investigation, or to obtain independent professional advice, with respect to any concerns they may have regarding
the condition of the Premises, including, but not limited to, any structural, safety, environmental, financial, tax, legal
or health concerns. Tenant and Landlord expressly acknowledge that Broker is not an expert in any of these areas
and has given no advice nor made any representations in regard thereto upon which Tenant or Landlord have
relied. All parties hereby release any Broker and any affiliated agent and employee from any cost, expense or
liability that may result from their reliance on any perceived advice given with respect to the foregoing.
23.4. Material Relationships- Neither the Broker nor Broker’s affiliated licensees have a material relationship with
Landlord or Tenant except as follows: _____________________________________________________
_______________________________________________________________________________________.
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Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
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23.5. Tenant’s Broker- The Tenant’s Broker identified on the signature page of this Lease is the Broker assisting
the Tenant, regardless of whether the Tenant is a customer or a client as defined under Georgia law. It includes the
agent or agents of the Broker who are involved in this particular transaction. The Tenant’s Broker is [check one]:
23.5.1. o representing the Tenant as a client under a written brokerage agreement; or
23.5.2. o representing the Tenant as a customer, performing only ministerial acts; or
23.5.3. o acting as a dual agent, with responsibilities to both Landlord and Tenant, as described more fully
below; or
23.5.4. o acting as a designated agent, with responsibilities to both Landlord and Tenant, as described more
fully below.
23.6. Landlord’s Broker- The Landlord’s Broker identified on the signature page of this Lease shall refer
collectively to all persons assisting the Landlord, regardless of whether the Landlord is a customer or client as
defined under Georgia law. It includes the agent or agents of the Broker who are involved in this particular
transaction. The Landlord’s Broker is [check one]:
23.6.1. o representing the Landlord as a client under a written brokerage agreement; or
23.6.2. o representing the Landlord as a customer, performing only ministerial acts; or
23.6.3. o acting as a dual agent, with responsibilities to both Landlord and Tenant, as described more fully
below; or
23.6.4. o acting as a designated agent, with responsibilities to both Landlord and Tenant, as described more
fully below.
23.7. Dual Agent- "Dual agent" means a Broker who simultaneously has a client relationship with both landlord and
tenant in the same real estate transaction. O.C.G.A. §10-6A-3(10). By checking the dual agent box above, the
parties acknowledge that they have consented to a dual agency and acknowledge that their interests may
sometimes be adverse. If the parties have agreed to allow a Broker to act as a dual agent, that Broker will not
disclose to another party any information a client has asked the Broker to keep confidential, or which would
negatively affect that party’s bargaining position, unless the disclosure is required by law.
23.8. Designated Agent- "Designated agent" means one or more licensees affiliated with a Broker who are
assigned by the Broker to represent solely one client to the exclusion of all other clients in the same transaction and
to the exclusion of all other licensees affiliated with the Broker. O.C.G.A. §10-6A-3(9). By checking the designated
agent box above, the parties acknowledge that they have consented to a designated agency and acknowledge that
____________________________________________________ will work exclusively with Tenant as Tenant’s
designated agent and __________________________________________________ will work exclusively with the
Landlord as Landlord’s designated agent.
23.9. Landlord [check one] o IS or o IS NOT a Georgia real estate licensee.
24. ASSIGNMENT/SUBLEASE
Tenant shall not assign, sublease, or otherwise transfer its interest in the Lease (a “Transfer”) without the prior written
consent of Landlord, which consent Landlord shall not unreasonably withhold. Tenant shall give Landlord thirty (30)
days prior written notice of its intent to Transfer, and upon receipt, Landlord may elect to terminate this Lease and
recapture the Premises by giving Tenant thirty (30) days’ notice. No permitted Transfer shall relieve Tenant of liability
under this Lease. Any attempted Transfer of this Lease without Landlord’s consent shall be deemed an Event of Default.
In the event Landlord consents to a Transfer, Tenant shall pay to Landlord fifty percent (50%) of all rent Tenant receives
in excess of Rent, and the reasonable costs incurred by Tenant in connection with such Transfer, which shall include
leasing commissions, tenant improvements costs, rent abatements, and attorneys’ fees.
25. NOTICES
Any notice, request or other communication required or permitted to be given hereunder shall be in writing and shall be
delivered by hand or overnight courier (such as United Parcel Service or Federal Express), sent by facsimile, sent by
electronic mail (“email”) or mailed by United States registered or certified mail, return receipt requested, postage prepaid
and addressed to each party at its address as set forth below. Any such notice shall be considered given on the date of
such hand or courier delivery, confirmed facsimile transmission, deposit with such overnight courier for next business
day delivery, or deposit in the United States mail, but the time period (if any is provided herein) in which to respond to
such notice shall commence on the date of hand or overnight courier delivery or on the date received following deposit
in the United States mail as provided above. Rejection or other refusal to accept or inability to deliver because of
changed address of which no notice was given shall be deemed to be receipt of the notice. By giving at least five (5)
banking days’ prior written notice thereof, any party may from time to time and at any time change its mailing address
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Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
Copyright© 2015 by Orthrus Real Estate Enterprises, LLC. All rights reserved.
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hereunder. Any notice of any party may be given by or to such party’s counsel or Broker. The parties’ respective mailing
and email addresses for notice purposes are indicated after the parties’ signatures below.
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Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
Copyright© 2015 by Orthrus Real Estate Enterprises, LLC. All rights reserved.
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EITHER MAY HAVE TO A TRIAL BY JURY HAS BEEN NEGOTIATED AND IS AN ESSENTIAL ASPECT OF
THEIR BARGAIN. FURTHERMORE, TENANT HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
WAIVES THE RIGHT IT MAY HAVE TO SEEK PUNITIVE, CONSEQUENTIAL, SPECIAL AND INDIRECT
DAMAGES FROM LANDLORD AND ANY OF LANDLORD’S AFFILIATES, OFFICERS, DIRECTORS OR
EMPLOYEES OR ANY OF THEIR SUCCESSORS WITH RESPECT TO ANY AND ALL ISSUES PRESENTED IN
ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY TENANT AGAINST LANDLORD OR
ANY OF LANDLORD’S AFFILIATES, OFFICERS, DIRECTORS OR EMPLOYEES OR ANY OF THEIR
SUCCESSORS WITH RESPECT TO ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS LEASE
OR ANY DOCUMENT CONTEMPLATED HEREIN OR RELATED HERETO. THE WAIVER BY TENANT OF ANY
RIGHT IT MAY HAVE TO SEEK PUNITIVE, CONSEQUENTIAL, SPECIAL AND INDIRECT DAMAGES HAS BEEN
NEGOTIATED BY THE PARTIES HERETO AND IS AN ESSENTIAL ASPECT OF THEIR BARGAIN.
27. EXHIBITS
The following exhibits are attached to and made a part of this Lease. The provisions of any exhibit attached to this
Lease and referenced below shall prevail if in conflict with the provisions of the Lease:
¨ Work Letter
¨ Lease Guaranty
¨ Legal Description Exhibit
¨ Other: __________________________________________
¨ Other: __________________________________________
¨ Other: __________________________________________
Only those exhibits which are attached hereto and are marked above made a part of this Contract.
28. Special Stipulations (provisions of any stipulation included in this contract shall prevail if in conflict with the
provisions of this Lease, including any exhibit attached hereto):
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Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
Copyright© 2015 by Orthrus Real Estate Enterprises, LLC. All rights reserved.
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IN WITNESS WHEREOF, Landlord and Tenant have entered into this Lease as of the Effective Date.
Ø____________________________________________ Ø____________________________________________
_____________________________________________ _____________________________________________
Tenant Printed Name Landlord or Property Manager Printed Name
Ø____________________________________________ Ø____________________________________________
_____________________________________________ _____________________________________________
Tenant Printed Name Landlord or Property Manager Printed Name
______________________/______________________ ______________________/______________________
Tenant Phone Number Tenant Fax Number Landlord or Property Mgr Phone Landlord or Property Mgr Fax
_____________________________________________ _____________________________________________
Tenant Email Address Landlord or Property Manager Email Address
_____________________________________________ _____________________________________________
Tenant Address Landlord or Property Manager Address
_____________________________________________ _____________________________________________
Tenant City State Zip Landlord or Property Manager City State Zip
_________________________________/___________ _________________________________/___________
Name of Brokerage Firm Broker Code Name of Brokerage Firm Broker Code
______________________/______________________ ______________________/______________________
Brokerage Phone Number Brokerage Fax Number Brokerage Phone Number Brokerage Fax Number
Ø___________________________________________ Ø___________________________________________
____________________________________________ ____________________________________________
Agent Printed Name Agent Printed Name
______________________/______________________ ______________________/______________________
Agent Phone Number Agent Fax Number Agent Phone Number Agent Fax Number
_____________________________________________ _____________________________________________
Agent Email Address Agent Email Address
Page 13 of 13
Form RE700, Commercial Triple Net Lease (Single Tenant) Initials: _________ _________ _________ _________
Copyright© 2015 by Orthrus Real Estate Enterprises, LLC. All rights reserved.
R02222015