Storage Rental Agreement: Definition, Terms, Example
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Quick Facts — Storage Rental Agreement Lawyers
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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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Michael M.
www.linkedin/in/michaelbmiller I am an experienced contracts professional having practiced nearly 3 decades in the areas of corporate, mergers and acquisitions, technology, start-up, intellectual property, real estate, employment law as well as informal dispute resolution. I enjoy providing a cost effective, high quality, timely solution with patience and empathy regarding client needs. I graduated from NYU Law School and attended Rutgers College and the London School of Economics as an undergraduate. I have worked at top Wall Street firms, top regional firms and have long term experience in my own practice. I would welcome the opportunity to be of service to you as a trusted fiduciary. In 2022 and 2023, I was the top ranked attorney on the Contract Counsel site based upon number of clients, quality of work and number of 5 Star reviews.
"Michael's expertise and judgment impressed me. I brought him in for contract advisory work, and he quickly asked the questions I hadn't considered, identified the risks that mattered, and set aside the ones I had wrongly prioritized. He changed how I understood the contract. He is an excellent advisor - highly recommended."
Ryenne S.
My name is Ryenne Shaw and I help business owners build businesses that operate as assets instead of liabilities, increase in value over time and build wealth. My areas of expertise include corporate formation and business structure, contract law, employment/labor law, business risk and compliance and intellectual property. I also serve as outside general counsel to several businesses across various industries nationally. I spent most of my early legal career assisting C.E.O.s, General Counsel, and in-house legal counsel of both large and smaller corporations in minimizing liability, protecting business assets and maximizing profits. While working with many of these entities, I realized that smaller entities are often underserved. I saw that smaller business owners weren’t receiving the same level of legal support larger corporations relied upon to grow and sustain. I knew this was a major contributor to the ceiling that most small businesses hit before they’ve even scratched the surface of their potential. And I knew at that moment that all of this lack of knowledge and support was creating a huge wealth gap. After over ten years of legal experience, I started my law firm to provide the legal support small to mid-sized business owners and entrepreneurs need to grow and protect their brands, businesses, and assets. I have a passion for helping small to mid-sized businesses and startups grow into wealth-building assets by leveraging the same legal strategies large corporations have used for years to create real wealth. I enjoy connecting with my clients, learning about their visions and identifying ways to protect and maximize the reach, value and impact of their businesses. I am a strong legal writer with extensive litigation experience, including both federal and state (and administratively), which brings another element to every contract I prepare and the overall counsel and value I provide. Some of my recent projects include: - Negotiating & Drafting Commercial Lease Agreements - Drafting Trademark Licensing Agreements - Drafting Ambassador and Influencer Agreements - Drafting Collaboration Agreements - Drafting Service Agreements for service-providers, coaches and consultants - Drafting Master Service Agreements and SOWs - Drafting Terms of Service and Privacy Policies - Preparing policies and procedures for businesses in highly regulated industries - Drafting Employee Handbooks, Standard Operations and Procedures (SOPs) manuals, employment agreements - Creating Employer-employee infrastructure to ensure business compliance with employment and labor laws - Drafting Independent Contractor Agreements and Non-Disclosure/Non-Competition/Non-Solicitation Agreements - Conducting Federal Trademark Searches and filing trademark applications - Preparing Trademark Opinion Letters after conducting appropriate legal research - Drafting Letters of Opinion for Small Business Loans - Drafting and Responding to Cease and Desist Letters I service clients throughout the United States across a broad range of industries.
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Darryl S.
Darryl S.
I offer flat/fixed fees rather than hourly work to help lower your legal costs and align our interests. I specialize in contract law and focus on making sure your contract is clear, protects your interests and meets your needs. You can expect fast, straightforward communication from me, making sure you understand every step. With my experience, you'll get a detailed review of your contract at a fair, fixed price, without any surprises. I have over 30 years of business and legal experience that I bring to your project. I graduated from The University of Texas School of Law with High Honors in 1993 and practiced at Texas' largest law firm. I have founded companies and so understand how to be helpful as both a lawyer and business owner.
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Melissa G.
Melissa D. Goolsarran Ramnauth, Esq. is an experienced trial-winning trademark and business attorney. She has represented large businesses in commercial litigation cases. She now represents consumers and small businesses regarding federal trademarks, contracts, and more. Her extensive litigation knowledge allows her to prepare strong trademark applications and contracts to minimize the risk of future lawsuits.
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