Updated October 11, 2023
A New Mexico commercial lease agreement is a contract between a landlord and a tenant for the rental of a commercially zoned business property. Legally binding once signed by both parties, the document outlines a list of agreements including rent amount, lease duration, option to renew, security deposit, late fees, and more. It also states that the tenant must use the property as allowed by law, and any breach of contract may result in legal action. The tenant is also responsible for acquiring all the appropriate permits and licenses before operating.
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