This office lease clause states that the tenant shall be allowed to utilize the storage area and the same shall be deemed to be included in and be a portion of the demised premises. There will be no charge for the use of storage area by way of rent or for any other services. This form also lists acknowledgments of the tenants obligations for use of the storage area.
The New Mexico Storage Area Clause is a legal provision that outlines the responsibilities and liabilities of individuals or businesses renting storage space in New Mexico. It sets forth the rights and obligations of both the storage facility owner and the tenant, ensuring a clear understanding between the parties involved. This clause serves as an essential component of storage rental agreements and helps protect the rights of both parties. The New Mexico Storage Area Clause encompasses various aspects of storage rental, covering key points such as access, payment, security, and termination. It typically includes the following elements: 1. Rental Period: This clause states the duration for which the storage space is rented, whether it is on a monthly, yearly, or fixed-term basis. It may also address any provisions for renewal. 2. Rental Payment: The Storage Area Clause specifies the agreed-upon rental price and the frequency of payment. It clarifies whether additional fees, such as security deposits or late payment penalties, are applicable. 3. Access and Use: It outlines the terms and conditions for accessing the storage facility, including designated hours, entry procedures, and limitations on certain activities, such as operating machinery or hazardous materials' storage. 4. Security and Liability: This clause details the security measures implemented by the storage facility owner, such as surveillance cameras, alarms, or access codes. It also establishes the responsibilities and limitations of the facility owner regarding the security of stored items. Additionally, it may address insurance requirements and liability limitations, protecting both the tenant and the storage facility owner. 5. Maintenance and Damage: The New Mexico Storage Area Clause may specify the tenant's responsibility to maintain cleanliness and prevent damage to the storage unit. It may also outline procedures for reporting damages, repairs, and any associated costs. 6. Termination and Default: This clause delineates the conditions under which either the tenant or the storage facility owner can terminate the rental agreement. It addresses factors such as notice periods, early termination fees, and remedies for default or breach of contract. Different types of Storage Area Clauses may exist based on individual storage facilities' policies or varying agreements negotiated between parties. However, the core components mentioned above are generally found in most New Mexico Storage Area Clauses. Overall, the New Mexico Storage Area Clause ensures transparency and clear guidelines for both the storage facility owner and the tenant, establishing a mutually beneficial relationship while safeguarding the interests and rights of all parties involved in storage rental agreements within the state.
