Double Net (NN) Lease Agreement Template Free: Base Rent, Taxes & Insurance

Landlord:

Full Legal Name: [Landlord Full Legal Name]

Address: [Landlord Street Address]

City, State/Province, ZIP/Postal Code, Country: [Landlord City/State/ZIP/Country]

Tenant:

Full Legal Name: [Tenant Full Legal Name]

Address: [Tenant Street Address]

City, State/Province, ZIP/Postal Code, Country: [Tenant City/State/ZIP/Country]

Premises:

Property Address: [Property Street Address]

City, State/Province, ZIP/Postal Code, Country: [Property City/State/ZIP/Country]

Unit/Suite/Description: [Premises Description]

4.1 Property Taxes

Tenant will pay or reimburse Landlord for all real property taxes and assessments imposed on the Property that are allocable to the Premises for each tax period during the Term.

If the Property includes multiple tenants, Tenant's share of property taxes will be:

Tenant's Tax Share: [Percentage or Calculation Method, such as "Premises rentable area / total rentable area of Property"].

Tenant will pay property taxes either directly to the taxing authority (if separately billed) or to Landlord within [Number] days after receiving a written statement or copy of the tax bill.

4.2 Property Insurance

Landlord will maintain property insurance on the building in types and amounts selected by Landlord. Tenant will reimburse Landlord for the portion of property insurance premiums allocable to the Premises (the "Insurance Share").

Tenant's Insurance Share: [Percentage or Calculation Method].

Landlord may estimate Tenant's Insurance Share and bill Tenant in periodic installments, with a reconciliation after each policy year if needed. Tenant will pay any additional amount due within [Number] days after receiving the reconciliation statement.

8.1 Tenant Responsibilities

At Tenant's expense, Tenant will:

• Maintain the interior, non-structural portions of the Premises in good order and condition, including interior walls, doors, floor coverings, interior glass, lighting, and Tenant's fixtures and equipment.
• Keep the Premises clean and free of debris.
• Promptly repair any damage to the Premises caused by Tenant, Tenant's employees, contractors, or visitors, beyond ordinary wear and tear.

8.2 Landlord Responsibilities

At Landlord's expense, subject to reimbursement for taxes and insurance as provided in Section 4, Landlord will:

• Maintain the structural elements of the building, including foundation, roof structure, and exterior walls (excluding interior finishes and damage caused by Tenant).
• Maintain and repair common areas of the Property, including parking areas, driveways, sidewalks, landscaping, and shared building systems serving multiple tenants.

Landlord's costs of common area maintenance and ordinary operating expenses (other than property taxes and property insurance premiums allocated under Section 4) are generally not passed through to Tenant under this NN structure.

10.1 Tenant Insurance

Tenant will maintain, at Tenant's expense, during the Term:

• Commercial general liability insurance covering bodily injury and property damage occurring in or about the Premises, with minimum limits of $[Liability Limit] per occurrence and $[Aggregate Limit] aggregate, or other limits reasonably required by Landlord.
• Property insurance for Tenant's personal property, inventory, equipment, and trade fixtures located in the Premises.

Tenant will provide Landlord with certificates of insurance and will name Landlord (and, if requested, Landlord's mortgagee) as an additional insured on Tenant's liability policy.

10.2 Landlord Insurance

Landlord will maintain property insurance for the building and common areas in types and amounts selected by Landlord, and Tenant will reimburse Landlord for Tenant's Insurance Share as described in Section 4.2.

10.3 Indemnity

To the extent allowed by applicable law, Tenant will indemnify and hold harmless Landlord from claims, damages, and expenses arising out of Tenant's use or occupancy of the Premises or Tenant's activities on the Property, except to the extent caused by Landlord's negligence or willful misconduct.

13.1 Tenant Default

Tenant will be in default under this Lease if:

• Tenant fails to pay Base Rent, Additional Rent (including taxes or insurance), or any other amount due within [Number] calendar days after receiving written notice of non-payment from Landlord; or
• Tenant materially breaches any other provision of this Lease and does not cure the breach within [Number] calendar days after receiving written notice from Landlord, or within a reasonable additional time if the breach cannot reasonably be cured within that period but Tenant promptly begins and diligently continues cure.

13.2 Landlord Remedies

Subject to applicable law and any required notice and cure periods, if Tenant is in default, Landlord may:

• Terminate this Lease and regain possession of the Premises;
• Re-enter and relet the Premises, applying net rent received from a new tenant against amounts owed by Tenant;
• Seek damages, unpaid sums, and other relief available at law or in equity.

14.1 Casualty

If the Premises are damaged by fire or other casualty:

• Landlord will determine, within a reasonable period, whether the damage can reasonably be repaired within a practical timeframe.
• If repair is feasible, Landlord may repair the damage. Base Rent may be reduced in proportion to the degree Tenant's use of the Premises is materially affected during repairs, to the extent not covered by business interruption insurance (if any).
• If the Premises are substantially damaged so that they cannot reasonably be repaired within a practical timeframe, Landlord or Tenant may have the right to terminate this Lease by written notice, effective as stated in that notice.

14.2 Condemnation

If all or a substantial part of the Premises is taken by eminent domain or similar authority, this Lease may terminate as of the date of taking or as otherwise provided in a written notice.

Any condemnation award relating to the land or building will generally belong to Landlord, except amounts specifically awarded to Tenant for Tenant's personal property, trade fixtures, or relocation expenses.