Connecticut Renewal and Extension of Commercial Lease

• The tenant has an option to renew the lease at the end of the term.
• Optional clauses for payment of the property taxes by either the landlord or the tenant, as agreed to between the parties.
• The tenant is responsible for carrying comprehensive public liability, fire and extended coverage insurance.
• Optional clauses included if (i) the landlord is responsible for mechanical and structural repairs, and (ii) if the tenant is responsible for all repairs.
• Parking areas are to be shared by all tenants and their employees and customers.
• Procedures in the event of damage, destruction, or condemnation of the building.
• The tenant accepts the lease subordinate to any mortgage or other lien against the property.
• The tenant agrees to provide an estoppel certificate upon request by the landlord.

If you lease commercial space to business tenants in Connecticut, you should always have this Guaranty form signed at the same time as the lease.

• The Guaranty is unconditional and continuing.
• A director, shareholder, partner, or proprietor must sign as the guarantor.
• The execution and delivery of the Guaranty is a condition of the lease.
• The guarantor's obligation to pay the rent and perform the tenant's obligations under the lease will not be affected by the tenant's bankruptcy or insolvency.
• The guarantor agrees to pay the landlord's reasonable attorneys' fees and costs of enforcing the Guaranty.

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