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What is a Storage Rental Agreement?
A storage rental 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.
Common Sections in Storage Rental Agreements
Below is a list of common sections included in Storage Rental Agreements. These sections are linked to the below sample agreement for you to explore.
Storage Rental Agreement Sample
Exhibit 10.21
STORAGE LEASE
1. This Agreement between Santa Clara Land Company, Ltd. (hereinafter called “Landlord”), and Rackspace.com (hereinafter called “Tenant”) (collectively the “Parties”), where Landlord leases to Tenant and Tenant leases from Landlord that certain storage unit composed of approximately 291 square feet located on the B1 level of the Garage at Weston Centre, (the “Building”) located at 112 E. Pecan, San Antonio, Texas 78205.
2. Term. The primary term of this Agreement is for month to month, commencing on January 1, 2001, and ending upon thirty days written notice from either party to the other party. This lease shall automatically terminate without notice to or by either Party upon the termination for any reason, in whole or in part, of that certain Office Building Lease Agreement (the “Lease Agreement”) entered into and effective as of the 22nd day of February, 2000, by and between Landlord as Landlord therein, and Tenant, for the 6th floor located in the Building.
3. Rent. Rent shall be paid to Landlord at 112 E. Pecan, Suite 175, San Antonio, Texas 78205. Rent is payable in advance without demand on or before the first day of each month during the term of this lease. Payment of rent shall be an independent covenant and obligation of Tenant without demand by Landlord or offset by Tenant for any reason whatsoever.
Term |
Rate | Monthly Payment | ||||
1/1/01-2/28/01 |
$ | 4.38 | $ | 106.22 | ||
3/1/01-2/28/02 |
$ | 5.88 | $ | 142.59 | ||
3/1/02-2/28/03 |
$ | 11.04 | $ | 267.72 |
4. Use of Property. The Property shall be used only as a storage unit for property of a business nature Tenant shall not keep or place any environmentally hazardous, toxic or otherwise unsafe or dangerous materials in or about the Property. Additionally, all items stored shall be stored in an orderly fashion and will not encroach into any area other than the area designated for storage.
5. Responsibility for Condition of Property. Tenant accepts the Property in its present condition. No express or implied warranties have been made by Landlord or Landlord’s agents regarding the condition of the Property and no agreements have been made regarding future repairs unless specified in this Agreement. Landlord has provided Tenant with locks on the Property to which Landlord has retained keys therefor, Any additional locks desired by the Tenant may be installed by Tenant at the Tenant’s expense after written approval by Landlord and provided Landlord is provided keys to same. When installed any additional locks shall become the property of Landlord.
6. Default. If Tenant shall default in the payment of the rent within five (5) days after it is due, or any other sums due hereunder, or if Tenant violates the terms of this lease, Landlord at its option, may terminate Tenant’s right to occupancy by giving Tenant a notice to vacate. After giving such notice, Landlord may accept payments for sums due hereunder without waiving or diminishing Landlord’s right to proceed against Tenant for eviction, property damages, past or future rent or other sums due hereunder.
7. Maintenance of the Property. Tenant shall use reasonable diligence in the care of the Property and shall be responsible for supplying or replacing any light bulbs within the Property, maintaining the Property in a clean condition, eliminating any conditions that may be dangerous to health and safety, and repairing any damage to the Property, including to the outside door, unless such damage was caused by the negligence of Landlord.
8. Alterations to the Property. Tenant shall not make any repairs or alterations to the Property without prior written permission of Landlord which may be withheld by Landlord for any reason whatsoever. At termination of this lease, Tenant agrees to surrender the Property in the same condition as when received, reasonable wear and tear, acts of God and insured casualty excepted.
9. Utilities. Landlord agrees to pay for only the cost of illuminating the Property. Landlord shall provide no other utilities nor shall any other utilities be made available to the Property.
10. Liability. Landlord or Landlord’s agent shall not be liable to Tenant, to Tenant’s guests, invitees or third persons for any damage, injuries, or losses to person or property caused by any weather condition, explosion, smoke, fire, interruption of utilities, theft, burglar, robbery, assault, vandalism, acts or third parties, condition of the Property or any other occurrence. Tenant agrees to notify Landlord immediately of any dangerous or potentially dangerous condition on or about the Property. Tenant agrees to secure insurance coverage sufficient for protection against all liabilities and losses with regard to Tenant’s use of the Property. Tenant hereby indemnifies, defends and holds Landlord harmless from and against any and all claims or causes of action for damage to persons or property (or the Property) arising directly or indirectly from Tenant’s use and/or occupancy of the Property.
Landlord and Tenant hereby release each other and their respective officers, agents and employees from any liability or claim for damage or injury to persons or property to the extent that any such liability or claim is covered by insurance and each party hereby waives all rights of subrogation which their respective insurance carriers would have but for this waiver.
11. Entry by Landlord. Landlord agrees to notify Tenant’s personnel prior to entry into the Property.
12. Inspection. After notice to Tenant, Landlord or Landlord’s agents may enter the Property at reasonable times during normal business hours (or any time during emergencies) to inspect the Property.
13. Attorney’s fees. The Landlord’s agent and/or any signatory of this lease who is the prevailing party in any legal proceeding against any other signatory of this lease shall be additionally entitled to recover court costs, reasonable attorney fees, and all other out-of-pocket costs of litigation, including depositions, travel and witness costs, from the nonprevailing party 14. Savings Clause. Should any clause of this instrument be found invalid by any court, the remainder of this instrument shall not be affected thereby, and all other provisions of this instrument shall remain valid and enforceable to the fullest extent permitted by law.
LANDLORD: | ||
WESTON PROPERTIES, L.C. | ||
As Agent for | ||
SANTA CLARA LAND COMPANY, LTD. | ||
By: | /s/ Tammy James | |
Tammy James | ||
Property Manager | ||
TENANT: | ||
RACKSPACE.COM | ||
By: | /s/ Lanham Napier | |
Lanham Napier | ||
CFO |
Reference:
Security Exchange Commission - Edgar Database, EX-10.21 24 dex1021.htm STORAGE LEASE, Viewed October 24, 2021, View Source on SEC.
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My career interests are to practice Transactional Corporate Law, including Business Start Up, and Mergers and Acquisitions, as well as Real Estate Law, Estate Planning Law, Tax, and Intellectual Property Law. I am currently licensed in Arizona, Pennsylvania and Utah, after having moved to Phoenix from Philadelphia in September 2019. I currently serve as General Counsel for a bioengineering company. I handle everything from their Mergers & Acquisitions, Private Placement Memorandums, and Corporate Structures to Intellectual Property Assignments, to Employment Law and Beach of Contract settlements. Responsibilities include writing and executing agreements, drafting court pleadings, court appearances, mergers and acquisitions, transactional documents, managing expert specialized legal counsel, legal research and anticipating unique legal issues that could impact the Company. Conducted an acquisition of an entire line of intellectual property from a competitor. In regards to other clients, I am primarily focused on transactional law for clients in a variety of industries including, but not limited to, real estate investment, property management, and e-commerce. Work is primarily centered around entity formation and corporate structure, corporate governance agreements, PPMs, opportunity zone tax incentives, and all kinds of business to business agreements. I have also recently gained experience with Estate Planning law, drafting numerous Estate Planning documents for people such as Wills, Powers of Attorney, Healthcare Directives, and Trusts. I was selected to the 2024 Super Lawyers Southwest Rising Stars list. Each year no more than 2.5% of the attorneys in Arizona and New Mexico are selected to the Rising Stars. I am looking to further gain legal experience in these fields of law as well as expand my legal experience assisting business start ups, mergers and acquisitions and also trademark registration and licensing.
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Jeremiah C.
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I am the Managing Partner of Adams Global Immigration, a Business Immigration Law firm focusing on nonimmigrant visa processing (H-1B, L-1, E-2, E-3, O-1, TN, etc.) and immigrant visa processing (EB-1, EB-2, EB-3, PERM, NIW, etc.). I have many years of business immigration experience, including legal work at Jackson and Hertogs, Fragomen, E&M Mayock, and as a Freelance Immigration Specialist. My specialization includes complicated Request for Evidence responses and high-volume nonimmigrant visa preparation. I can provide legal advice regarding employment visa preparation, unique international travel issues, and various other complex immigration matters. Prior to joining Jackson & Hertogs in 2018, I served as a Certified Law Clerk with the San Diego Public Defender office through Thomas Jefferson School of Law (TJSL). In this role, I argued over 40 hearings in state court for criminal juvenile matters, adult misdemeanors, and adult felonies. I subsequently joined the TJSL Removal Defense clinic, wherein I argued and won a full asylum trial in Federal Court for a Moroccan refugee fleeing severe LGBTQ persecution.
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