Arizona Notice of Assignment of Commercial Lease

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

• Triple Net Lease. A triple net lease means that the lessee covers all costs and expenses to do with the premises including structural repairs.
• Renewal. The lessee has an option to renew the lease for an additional term.
• Taxes and Charges. 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.
• Alterations and Repairs. The lessee is responsible for all alterations, improvements, maintenance and repairs.
• Damage or Destruction. Clauses outlining abatement of rent or termination of the lease the event of 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.
• Additional Rent. Optional clause for percentage rent to be paid in addition to the base rent, if applicable.

When leasing commercial space to a tenant, always get a guarantee of the lease from one of the owners of the business. This Guarantee of Commercial Lease form is for the State of Arizona.

• The guarantee is absolute, unconditional and continuing.
• The document should be signed by a director, shareholder, partner, sole proprietor or other person with a financial interest in the tenant's business.
• The guarantor agrees to pay the rent and perform all of the tenant's obligations under the lease, if the tenant is unable to do so.

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