Commercial Lease Agreement Template

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Harborview Properties LLC

200 Tech Park, Boston, MA 02110

May 1, 2025

Commercial Lease Agreement

EffectiveMay 1, 2025

Term5 years

Monthly Rent$8,500.00

Landlord

Harborview Properties LLC

1 Federal Street, Boston, MA 02110

Tenant

Northwind Traders, Inc.

200 Tech Park, Boston, MA 02110

This Commercial Lease Agreement (this "Lease") is made as of May 1, 2025 (the "Effective Date") between Harborview Properties LLC ("Landlord") and Northwind Traders, Inc. ("Tenant").

1. Premises

Landlord leases to Tenant, and Tenant leases from Landlord, the premises located at 200 Tech Park, Boston, MA 02110, consisting of approximately 4200 square feet of office space (the "Premises") in the building and land of which the Premises are a part (the "Property").

2. Term

The initial term is 5 years, beginning on June 1, 2025 (the "Commencement Date") and ending on May 31, 2030 (the "Term"). If Tenant is not then in default beyond any cure period, Tenant may extend the Term once for 3 years by written notice to Landlord at least 180 days before the Term ends. During the renewal term all terms of this Lease apply, except that Base Rent will be the Base Rent in effect at the end of the initial Term, increased by the annual escalation and there is no further renewal option.

3. Rent

Base rent is $8,500.00 per month ("Base Rent"), payable in advance on the first day of each month. On each anniversary of the Commencement Date, Base Rent increases by 3% over the Base Rent then in effect. Rent for any partial month is prorated. Any rent not received within 5 days after its due date bears a one-time late charge of 5% of the overdue amount.

4. Operating Expenses and Taxes

This is a net lease. In addition to Base Rent, Tenant shall pay as additional rent its 12.5% share of the Property's real estate taxes, property insurance premiums, and common area maintenance costs ("Operating Expenses"), in monthly installments based on Landlord's reasonable annual estimate, reconciled within 120 days after each calendar year. Operating Expenses exclude capital improvements (except the amortized cost of improvements required by law or that reduce Operating Expenses), Landlord's financing costs, and costs reimbursed by insurance or third parties. Tenant may review Landlord's

5. Security Deposit

On signing, Tenant shall deposit $17,000.00 with Landlord as security for Tenant's performance. Landlord may apply the deposit to cure any default, and Tenant shall restore any amount applied within 10 days after notice. Landlord shall return the unapplied balance within 30 days (or any shorter period applicable law requires) after the Term ends and Tenant surrenders the Premises, and shall otherwise hold and account for the deposit as applicable law requires.

6. Tenant Improvements

Landlord shall provide Tenant with a tenant improvement allowance of up to $50,000.00 to be applied to improvements approved in advance by Landlord.

7. Use

Tenant shall use the Premises only for office purposes and shall comply with laws applicable to Tenant's particular use. Landlord represents that, to Landlord's knowledge, that use is permitted under current zoning.

8. Maintenance

Landlord shall maintain the roof, foundation, structural elements, exterior walls, common areas, and building systems serving more than the Premises. Tenant shall maintain the interior of the Premises and any equipment exclusively serving it in good condition, ordinary wear and tear and casualty excepted.

9. Insurance and Indemnity

Tenant shall maintain commercial general liability insurance of at least $1,000,000.00 per occurrence naming Landlord as an additional insured, and property insurance on Tenant's personal property and improvements. Landlord shall maintain property insurance on the building at full replacement cost and commercial general liability insurance for the common areas. Each party waives claims against the other for loss to the extent covered, or required by this Lease to be covered, by its property insurance, and each party shall obtain a waiver of subrogation from its property insurer.

To the extent permitted by law, each party shall indemnify, defend, and hold harmless the other from third-party claims for bodily injury or property damage to the extent caused by the negligence or willful misconduct of the indemnifying party or its employees, agents, or contractors.

10. Assignment and Subletting

Tenant shall not assign this Lease or sublet all or part of the Premises without Landlord's prior written consent, which Landlord shall not unreasonably withhold, condition, or delay. Tenant remains liable under this Lease after any assignment or sublease unless Landlord releases Tenant in writing.

11. Default and Remedies

Tenant is in default if (a) Tenant fails to pay any rent within 10 days after written notice that it is past due, or (b) Tenant fails to perform any other obligation within 30 days after written notice, or, if the failure cannot reasonably be cured in that time, Tenant fails to begin the cure within that time and diligently complete it. On a default, Landlord may, in addition to its other remedies under applicable law, terminate this Lease by written notice, recover possession through legal process, and recover unpaid rent and its actual damages, subject to any duty to mitigate that applicable

12. Holdover

If Tenant remains in possession after the Term ends without Landlord's written consent, Tenant is a tenant at sufferance and shall pay 150% of the monthly Base Rent last in effect, prorated daily, for the holdover period, plus Landlord's actual damages caused by the holdover if it continues more than 30 days after Landlord's written notice to vacate.

13. Casualty and Condemnation

If the Premises are damaged by fire or other casualty, Landlord shall restore them with reasonable diligence to the extent of available insurance proceeds, and Base Rent abates in proportion to the part of the Premises that is unusable. If restoration cannot reasonably be completed within 180 days after the casualty, either party may terminate this Lease by written notice. If all or a material part of the Premises is taken by eminent domain, either party may terminate this Lease as of the date of taking.

14. Access, Surrender, and Quiet Enjoyment

Landlord may enter the Premises on 24 hours' notice, or without notice in an emergency, to inspect, repair, or show the Premises. At the end of the Term, Tenant shall surrender the Premises broom-clean and in good condition, ordinary wear and tear and casualty excepted, and remove its personal property. As long as Tenant is not in default beyond any cure period, Tenant may peaceably occupy the Premises during the Term without interference by Landlord or anyone claiming through Landlord.

15. General

Notices must be in writing and delivered by hand, nationally recognized overnight courier, or certified mail to the party's address shown above, or to a later address designated by notice. This Lease is governed by the laws of the State of Massachusetts, where the Premises are located. This Lease is the parties' entire agreement about the Premises and supersedes all prior understandings, and may be amended only in a writing signed by both parties. If any provision is unenforceable, the rest of this Lease remains in effect. Sections 5, 9, 11, 12, and 14 survive the end of the Term to the extent

IN WITNESS WHEREOF, the parties have signed this Lease as of the Effective Date.

Landlord

Pat Quinn

Managing Member, Harborview Properties LLC

Tenant

Sam Carter

Chief Executive Officer, Northwind Traders, Inc.