South Dakota Mutual Cancellation of Commercial Lease

Lease office or retail space to a business tenant with this standard form South Dakota Commercial Lease Agreement.

• Renewal. Option for the tenant to renew for an additional term at the end of the lease.
• Property Taxes. Alternate provisions for taxes to be paid by either the landlord or the tenant, as applicable.
• Insurance. The tenant is responsible for carrying comprehensive public liability, fire and extended coverage insurance.
• Structural Repairs. Alternate provisions depending on whether the landlord is responsible for mechanical and structural repairs, or if the tenant is responsible for all repairs.
• Parking. Parking areas are to be shared by all tenants and their employees and customers.
• Damage or Destruction.Provisions for termination or for abatement of rent in the event of damage, destruction, or condemnation of the building.
• This lease agreement template is fully editable to fit your needs.
• Intended for use only in the State of South Dakota.

Lease office, retail or other business premises to a tenant with this South Dakota Commercial Triple Net Lease Agreement.

A triple net lease means that the lessee covers all costs and expenses to do with the premises including structural repairs. The landlord benefits because the tenant is responsible for all expenses related to the property. The tenant benefits from lower rents and from more control over property-related expenses.

Key Provisions of Lease

• Renewal. The lessee has an option to renew the lease for an additional term.
• Responsibility for Taxes and Costs. The lessee will pay all expenses, taxes, levies, and charges with respect to the premises, all utilities and services, and operating expenses for its business.
• Insurance. The lessee is responsible for carrying fire, extended coverage, and liability insurance.
• Repairs and Maintenance.The lessee is responsible for all alterations, improvements, maintenance and repairs.
• Additional Rent. Optional clause for percentage rent to be paid in addition to the base rent, if applicable.

Damage or Destruction

The lease contains provisions outlining the steps for abatement of rent or termination of the lease in the event of substantial damage, destruction, or condemnation of the building.

Subordination

The lessee agrees to sign a subordination agreement or other documents necessary to subordinate the lease to a mortgage or other charge, if required by the lessor.

Format and Legal Jurisdiction

This legal form template is available in MS Word format and is fully editable to fit your needs. It is intended to be used only in the State of South Dakota.

Renew a business tenant's lease with this affordable South Dakota Renewal and Extension of Commercial Lease.

• The tenant has no further right to extend or renew the lease.
• The renewal contract sets out the new expiry date and the rental payments for the renewal term.
• All other terms and provisions of the original lease remain in full force and effect.
• This Agreement is for commercial properties. For residential tenancies, a Residential Lease Extension form is required.
• Easy to use, fully editable so you can customize it to your exact needs.
• Intended to be used only in the State of South Dakota.