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Cooperative Lease Option
"I need a Cooperative Lease Option agreement for a 20-unit residential property in Manchester, where members will have the option to purchase their units after 5 years of occupancy, with the lease term starting March 2025."
1. Parties: Identification of the cooperative society, landlord, and tenant/member
2. Background: Context of the agreement and cooperative structure
3. Definitions: Key terms used throughout the agreement
4. Option Terms: Details of the lease option, including duration and exercise conditions
5. Membership Requirements: Conditions of cooperative membership
6. Rent and Payments: Financial terms and payment obligations
7. Property Use and Maintenance: Rights and obligations regarding property use and upkeep
8. Termination Provisions: Conditions for ending the agreement
1. Purchase Option: Terms for potential property purchase, if applicable
2. Subletting Provisions: Rules regarding subletting, when permitted under specific conditions
3. Environmental Obligations: Specific environmental requirements for properties with environmental commitments
1. Property Description: Detailed description of the property including plans
2. Cooperative Rules: Full set of cooperative society rules
3. Member Rights and Obligations: Detailed breakdown of member responsibilities
4. Service Charges Schedule: Breakdown of service charges and calculations
5. Maintenance Schedule: Detailed maintenance responsibilities and schedules
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