Jump to Section
What is a Storage Lease Agreement?
A storage lease agreement is an agreement between the storer of the goods, known as the warehouseman, and the party storing the items, known as the depositor. The storage space can be a garage, barn, land, or storage unit. The agreements usually cover use of the storage space, rent payments, access to the space, liability for damages to the storage facility and the stored items, and the term of the agreement. These provisions will also cover what happens to the stored items if the depositor fails to pay rent. This could include the stored items being sold at auction.
Storage Lease Agreement Sample
EXHIBIT 10.7 STORAGE SPACE LEASE AGREEMENT This Storage Space Lease Agreement (the "STORAGE LEASE") is dated as of April 25, 2000 by and between RAK OLD SOUTH ASSOCIATES LIMITED PARTNERSHIP, a Massachusetts limited partnership, having an address at 140 West 57th Street, New York, New York 10019 ("LANDLORD"), and COLOR KINETICS, INC., a Delaware corporation, having an address at 10 Milk Street, Boston, Massachusetts 02108 ("TENANT") for storage space consisting of between 2,500 and 3,200 rentable square feet of storage space (the "PREMISES"), located in the concourse level of the building at 10 Milk Street, Boston, Massachusetts, in the location as shown on Exhibit A. Based on the results of Landlord's permitting process with the City of Boston, Landlord and Tenant will mutually agree as to the exact size of the Premises no later than thirty (30) days from the date hereof. 1. Premises. Subject to the Landlord Work (defined below), Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises in their "as-is" condition on the terms and conditions hereinafter set forth. "LANDLORD WORK" shall consist of constructing a demising wall and door in substantially the location shown on Exhibit A, and leaving the Premises in broom clean condition. If any staircase in the Premises is removed, Landlord shall cap the area from which it was removed. At Landlord's own expense, Landlord shall use commercially reasonable efforts to substantially complete the Landlord Work on or before August 1, 2000. 2. Term. This Storage Lease shall be for seven (7) years commencing and terminating on the same day as of the Lease Agreement between the parties dated as of April 25, 2000 (the "MAIN LEASE") for the eleventh floor of 10 Milk Street, Boston, Massachusetts. Such term shall include Tenant's right to extend the term of this Storage Lease for one (1) five-year period in the same manner provided for in Section 2.5 of the Main Lease, provided Tenant exercises the extension option under the Main Lease. In the event the Main Lease is assigned, this Storage Lease shall be, at Tenant's election, either (1) assigned to the same party or (2) terminated. This Storage Lease shall not be assigned except to an assignee of the Main Lease. 3. Rent. Subject to Section 8 below, Tenant shall pay rent to Landlord monthly in advance in the amount based on $15.00 per rentable square foot per annum for Lease Years 1-3, and subsequently in the amount based on $16.00 per rentable square foot per annum for Lease Years 4-7. Until Landlord makes its final determination of the size of the Premises, Tenant's monthly rent payment shall be $3,125.00, which payment shall be adjusted once the final determination is made. The first such payment shall be made by Tenant on the date hereof, although the period for which Rent is chargeable shall not start until Tenant has received written notice that the Landlord Work has been substantially completed. 4. Use. Tenant will use the Premises for general storage space, miscellaneous shipping and receiving and as a prototype creation room and for no other purpose. Tenant will use the Premises in compliance with all applicable laws and shall not bring or permit to be brought or kept in the Premises or elsewhere in the Building or Property any hazardous, toxic, flammable, combustible or explosive fluid, material, chemical or substance including without limitation, any item defined as hazardous pursuant to Chapter 21E of the Massachusetts General Laws except for small quantities of household cleaning agents and the like, all of which Tenant agrees to handle and dispose of in accordance with all applicable laws. 5. Services. Landlord shall provide reasonable electrical services to the Premises during the term of this Lease Agreement. Landlord shall provide Tenant with usage and cost information from the applicable electricity meters for the Premises and Tenant shall promptly pay the full amount directly to the electricity provider. Landlord shall not provide cleaning, heating, cooling, or any other services for the Premises. 6. Indemnity. Tenant hereby indemnifies and holds Landlord, its trustees, directors, partners, officers, employees, servants, agents and contractors (including without limitation its property managers, and any affiliates thereof, and their respective officers, directors, trustees, partners, employees, servants, agents and contractors) ("LANDLORD'S REPRESENTATIVES") harmless of, from and against any and all actions, causes of action, claims, costs, damages, debts, demands, expenses, liens, losses, injuries, judgments, fines, penalties and any and all liabilities whatsoever, of every name and nature, including without limitation attorneys' fees, whether on account of injury to persons (including death) or property or otherwise, caused by, arising out of or resulting from the use of the Premises, the building or the property by Tenant or its employees, servants, agents, contractors or invitees ("TENANT'S REPRESENTATIVES") or the conduct of Tenant's business, trade or profession, or any activity, work or thing done, permitted or suffered by Tenant in, on, or about the Premises, the building or the property, or any breach or default in the performance of any obligation on Tenant's part to be performed under the terms of this Storage Lease Agreement, or any act or omission on the part of Tenant or Tenant's Representatives, excepting only as the same may arise from the negligence or willful misconduct of Landlord; and Tenant hereby agrees to and shall defend Landlord and Landlord's Representatives against the same, at Tenant's sole cost and expense including without limitation the payment by Tenant of the reasonable fees, disbursements and expenses of attorneys, to be approved by Landlord, retained in such defense. This Section 6 shall survive the termination or expiration of this Storage Lease with respect to any and all matters occurring during the term hereof, or any further period during which Tenant shall hold the Premises as a tenant-at-will or tenant-at-sufferance. 7. Tenant Insurance. Prior to occupying the Premises, Tenant shall obtain and provide evidence of, and Tenant shall maintain during the term of this Lease Agreement, the following policies of insurance: (a) "All-Risk" property insurance covering all present and future articles of personal property and business machinery, equipment and furniture and any improvements or betterments owned or installed by Tenant in the Premises to a limit of not less than the full replacement cost thereof; and (b) Commercial general liability insurance with broad form coverage with minimum limits of $3,000,000 per occurrence for personal injury (including death) and $3,000,000 per occurrence for property damage. (c) Worker's compensation insurance with minimum limits of $1,000,000 per accident and per disease per employee. -2- On each of the above policies of insurance (but excluding insurance with respect to Tenant's personal property), the following parties shall be named as additional insureds: Landlord and RAK Group LLC, the managing agent. 8. Landlord Insurance. Throughout the term of this Storage Lease, Landlord shall insure the Building of which the Premises are a part, and all improvements which are considered to be part of the Building, against loss due to fire and other casualties included in standard "all risk" insurance policies, in an amount equal to 100% of the replacement cost thereof, exclusive of footings and foundations, with a deductible per occurrence which shall be commercially reasonable. 9. Waiver of Subrogation. Landlord and Tenant each waive and release the other from any and all liabilities, claims and losses on account of damage to personal or real property to the extent each is required to maintain insurance pursuant to this Storage Lease or actually receives insurance proceeds on account thereof. Each party hereto shall secure waiver of subrogation endorsements from their respective insurance carriers. 10. Holding Over. In the event Tenant holds, occupies or detains the Premises or any part thereof after the expiration of this Storage Lease, Tenant shall pay to Landlord each Monday in advance one week's rent equal to 200% of the amount of the rent payable pursuant to Section 3 immediately prior to such holding over period. In addition, Tenant shall be liable to Landlord for any and all damages, excluding consequential damages, suffered by Landlord as a result of such holding over. Such occupancy by Tenant shall be subject to every other term, provision, condition, covenant and agreement contained herein. Nothing contained in this Section 8 shall be construed as consent by Landlord to any holding over by Tenant and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease Agreement upon the expiration of this Lease Agreement, to commence suit at any time to recover possession of the Premises and recover all charges due hereunder, and to apply payments received by Landlord from Tenant on account and not as payment in full or in accord and satisfaction. This Section 10 shall survive the expiration of this Lease Agreement and the term hereunder. 11. Access During Renovation. Landlord reserves the right to access the Premises during the term of this Lease Agreement to continue renovations. Landlord shall use reasonable efforts to minimize interference with Tenant's operations in the Premises. 12. Miscellaneous. This Lease Agreement may be executed in separate counterparts. This Lease Agreement shall be governed by the laws of the Commonwealth of Massachusetts. [Remainder of Page Intentionally Left Blank] -3- IN WITNESS WHEREOF, the parties have executed this Lease Agreement as of the date first set forth above. COLOR KINETICS, INC. By:/s/ David Johnson -------------------------------------- Name: David Johnson Title: Vice President of Finance RAK OLD SOUTH ASSOCIATES LIMITED PARTNERSHIP By: RAK Washington Ventures Limited Partnership, its general partner By: RAK Washington Corp., its general partner By:/s/ Randy Kohana ------------------------------ Name: Randy Kohana Title: President -4- EXHIBIT A Premises [BASEMENT PLAN]
Reference:
Security Exchange Commission - Edgar Database, EX-10.7 13 b48986ckexv10w7.txt EX-10.7 STORAGE SPACE LEASE AGREEMENT, Viewed October 24, 2021, View Source on SEC.
Who Helps With Storage Lease Agreements?
Lawyers with backgrounds working on storage lease agreements work with clients to help. Do you need help with a storage lease agreement?
Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate storage lease agreements. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.
Need help with a Storage Lease Agreement?
Meet some of our Storage Lease Agreement Lawyers
Tim E.
Tim advises small businesses, entrepreneurs, and start-ups on a wide range of legal matters. He has experience with company formation and restructuring, capital and equity planning, tax planning and tax controversy, contract drafting, and employment law issues. His clients range from side gig sole proprietors to companies recognized by Inc. magazine.
Sara S.
With over ten years of intellectual property experience, I’m happy to work on your contractual matter. I am very diligent and enjoy meeting tight deadlines. Drafting memoranda, business transactional documents, termination notices, cease and desist letters, licenses and letter agreements are all in my wheelhouse! Working in a variety of fields, from construction to pharmaceutical, I enjoy resolving any disputes that come across my desk.
Daehoon P.
Advised startups and established corporations on a wide range of commercial and corporate matters, including VC funding, technology law, and M&A. Commercial and Corporate Matters • Advised companies on commercial and corporate matters and drafted corporate documents and commercial agreements—including but not limited to —Convertible Note, SAFE, Promissory Note, Terms and Conditions, SaaS Agreement, Employment Agreement, Contractor Agreement, Joint Venture Agreement, Stock Purchase Agreement, Asset Purchase Agreement, Shareholders Agreement, Partnership Agreement, Franchise Agreement, License Agreement, and Financing Agreement. • Drafted and revised internal regulations of joint venture companies (board of directors, employment, office organization, discretional duty, internal control, accounting, fund management, etc.) • Advised JVs on corporate structuring and other legal matters • Advised startups on VC funding Employment Matters • Drafted a wide range of employment agreements, including dental associate agreements, physician employment agreements, startup employment agreements, and executive employment agreements. • Advised clients on complex employment law matters and drafted employment agreements, dispute settlement agreements, and severance agreements. General Counsel • As outside general counsel, I advised startups on ICOs, securities law, business licenses, regulatory compliance, and other commercial and corporate matters. • Drafted or analyzed coin or token sale agreements for global ICOs. • Assisted clients with corporate formations, including filing incorporation documents and foreign corporation registrations, drafting operating and partnership agreements, and creating articles of incorporation and bylaws. Dispute Resolution • Conducted legal research, and document review, and drafted pleadings, motions, and other trial documents. • Advised the client on strategic approaches to discovery proceedings and settlement negotiation. • Advised clients on employment dispute settlements.
Daniel D.
I was born and raised in Wayne, New Jersey and attended Seton Hall University, graduating cum laude. I followed my family down to Florida to attend Ave Maria School of Law where I graduated cum laude. I was admitted to the Florida Bar in 2018. During law school, I participated in the Certified Legal Internship program with the State Attorney's Office of the 20th Judicial Circuit and litigated 5 jury trials, 1 non jury trial and argued various motions before the court under the supervision of an Assistant State Attorney. I was an Assistant States Attorney for Collier County from 2018 to 2020 before moving into private practice in the areas of real estate and first party property from 2020 to 2021. As of November 2021, I started my own law practice that focuses on business planning, real estate and estate planning.
June 29, 2023
John V.
Business, Real Estate, Tax, Estate Planning and Probate attorney with over 20 years experience in private practice in Colorado. Currently owner/operator of John M. Vaughan, Attorney at Law solo practitioner located in Boulder, CO. My practice focuses on transactional matters only.
June 30, 2023
Mark M.
I have 20-plus years of experience as a corporate general counsel, for public and private corporations, domestic and international. I have acted as corporate secretary for a publicly-held corporation and have substantial experience in corporate finance, M&A, corporate governance, incorporations, corporate maintenance, complex transactions, corporate termination and restructuring, as well as numerous aspects of regulatory and financial due diligence. In my various corporate roles, I have routinely drafted complex corporate contracts and deal-related documents such as stock purchase agreements, option and warrant agreements, MSAs, SOWs, term sheets, joint venture agreements, tender agreements purchase and sale agreements, technology licensing agreements, vendor agreements, service agreements, IP and technology security agreements, NDAs, etc. and have managed from both a legal and business perspective many projects in the financial, technology, energy and venture capital fields.
August 9, 2023
Daniel K.
My practice focuses on business and commercial litigation. I have worked with companies of all sizes from sole member LLCs to those in the Fortune 500. I've advised clients on mergers, equity issuances, commercial transactions, joint ventures, employment issues, and non-competition. I've also drafted and negotiated the underlying agreements for these transactions and more.
Find the best lawyer for your project
Browse Lawyers NowQuick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.
View Trustpilot ReviewNeed help with a Storage Lease Agreement?
Real Estate lawyers by top cities
- Austin Real Estate Lawyers
- Boston Real Estate Lawyers
- Chicago Real Estate Lawyers
- Dallas Real Estate Lawyers
- Denver Real Estate Lawyers
- Houston Real Estate Lawyers
- Los Angeles Real Estate Lawyers
- New York Real Estate Lawyers
- Phoenix Real Estate Lawyers
- San Diego Real Estate Lawyers
- Tampa Real Estate Lawyers
Storage Lease Agreement lawyers by city
- Austin Storage Lease Agreement Lawyers
- Boston Storage Lease Agreement Lawyers
- Chicago Storage Lease Agreement Lawyers
- Dallas Storage Lease Agreement Lawyers
- Denver Storage Lease Agreement Lawyers
- Houston Storage Lease Agreement Lawyers
- Los Angeles Storage Lease Agreement Lawyers
- New York Storage Lease Agreement Lawyers
- Phoenix Storage Lease Agreement Lawyers
- San Diego Storage Lease Agreement Lawyers
- Tampa Storage Lease Agreement Lawyers
ContractsCounsel User
Revised Rental Contract for Storage Unit Business
Location: Florida
Turnaround: Over a week
Service: Drafting
Doc Type: Storage Lease Agreement
Number of Bids: 9
Bid Range: $350 - $1,200
ContractsCounsel User