The Parking Lease Agreement serves as a crucial document in urban and suburban settings across the United States, where parking space is often at a premium. This contract type is essential for businesses, property owners, and individuals who need to formalize arrangements for parking space rental. The agreement typically covers essential elements such as space designation, access rights, payment terms, and duration, while ensuring compliance with local zoning laws and safety regulations. It's particularly important in commercial districts, residential complexes, and mixed-use developments where clear delineation of parking rights and responsibilities is necessary to prevent disputes and ensure smooth operations.
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1. Parties: Identification of lessor and lessee with full legal names and addresses
2. Background: Context of the agreement and brief description of the parking facility
3. Definitions: Key terms used throughout the agreement
4. Premises: Detailed description of parking space(s) being leased
5. Term: Duration of lease and renewal options
6. Rent and Payment Terms: Amount, payment schedule, and accepted payment methods
7. Use of Premises: Permitted uses and restrictions
8. Maintenance and Repairs: Responsibilities for upkeep
9. Insurance and Liability: Required insurance coverage and liability provisions
10. Termination: Conditions for ending the agreement
1. Security Deposit: Terms and conditions for security deposit payment, holding, and return
2. Access Cards/Keys: Provisions for access devices including issuance, return, and replacement
3. Subletting: Rules and procedures regarding subletting the parking space
4. Special Events: Provisions for special event parking and temporary use restrictions
1. Schedule A - Parking Space Plan: Diagram or map of designated parking space(s)
2. Schedule B - Fee Schedule: Detailed breakdown of all applicable fees
3. Schedule C - Facility Rules and Regulations: Specific rules governing use of the facility
4. Schedule D - Insurance Requirements: Detailed insurance specifications and minimum coverage requirements
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