Common use of GROSS Clause in Contracts

GROSS. Lessee’s Initials: [INITIALS] Lessor’s Initials: [INITIALS] It is the intention of the Parties that this Lease be considered a “Gross Lease” and as such, the Base Rent is the entirety of the monthly rent. Therefore, the Lessee is not obligated to pay any additional expenses which includes utilities, real estate taxes, insurance (other than on the Lessee’s personal property), charges or expenses of any nature whatsoever in connection with the ownership and operation of the Premises. The Lessor shall be obligated to maintain the general exterior structure of the Premises and shall maintain all major systems such as the heating, plumbing, and electrical. The parking area shall be maintained by the Lessor (including the removal of any snow or environmental hazards) as well as the grounds and lands surrounding the Premises. The Lessor shall maintain at their expense casualty insurance for the Premises against loss by fire which may or may not include any extended coverage. The Lessee will provide and maintain personal liability and property damage insurance as a lessee, at least to the limits of One Million Dollars ($1,000,000.00), that will designate the Lessor as an "also named insured” and shall provide the Lessor with a copy of such insurance certification or policy prior to the effective date of this Lease. ☐ - MODIFIED GROSS. Lessee’s Initials: [INITIALS] Lessor’s Initials: [INITIALS] It is the intention of the Parties that this Lease shall be considered a “Modified Gross Lease.” In addition to the Base Rent, the Lessee shall be obligated to pay the following monthly expenses: [LIST ALL EXPENSES THAT THE LESSEE WILL BE RESPONSIBLE FOR]. The Lessor shall pay the following monthly expenses: [LIST ALL EXPENSES THAT THE LESSOR WILL BE RESPONSIBLE FOR]. ☐ - TRIPLE-NET (NNN). Lessee’s Initials: [INITIALS] Lessor’s Initials: [INITIALS] It is the intention of the Parties that this Lease shall be considered a “Triple Net Lease.”