California Association Of Realtors Commercial Lease Agreement

(ii) When two arbitrators are appointed, they meet within 10 business days of the appointment of the second arbitrator and attempt to agree a fair rent on the market. If, within 20 working days following the appointment of the second arbitrator, the two arbitrators are unable to reach an agreement on fair market Rent, the two arbitrators will appoint a third arbitrator who will be a competent and impartial person, with qualifications similar to those of the first two arbitrators. If arbitrators are unable to agree on such an appointment within five (5) working days from the expiry of this twenty (20) working day period, the third arbitrator will be chosen by the parties themselves. If the parties fail to reach an agreement on the third arbitrator within five (5) working days following the expiry of the five(5) working days above, one of the parties may, on behalf of both parties, ask a Judge of the Supreme Court of San Mateo County to appoint such a qualified person as the third arbitrator. The third arbitrator rules on the dispute, if it has not been settled in advance, in accordance with the procedures covered in paragraph 2.C.3) (iii) below. Each party pays for the costs and expenses of its respective arbitrator and the two parties share the costs and expenses of the third arbitrator. The legal fees and legal fees of the parties concerned are paid by the party concerned, who associates that lawyer or calls on such witnesses. Modified Gross – This form of commercial lease is located between Gross and Triple Net (NNN) because the landlord and tenant distribute the costs. Simply put, the tenant and landlord share a portion of the maintenance and tax costs. The California commercial lease is a document used to lease a property to a tenant who needs retail, office or industrial space. Often, a landlord will not see rent until the company in question has started to generate sufficient income. For this reason, the owner is advised to research the business before establishing a lease. In general, there are three types of commercial leases that are used when entering into a landlord-tenant relationship; described below.