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10 Year Lease Agreement
"I need a 10 Year Lease Agreement for a retail space in Auckland CBD, commencing March 1, 2025, with specific provisions for extensive initial fit-out works and an option for two 5-year renewals; tenant will be a high-end fashion retailer requiring naming rights on the building facade."
1. Parties: Identification of the landlord and tenant, including full legal names, addresses, and company registration numbers if applicable
2. Background: Context of the lease agreement, including brief property description and purpose of the lease
3. Definitions and Interpretation: Definitions of key terms used throughout the lease and rules for interpreting the agreement
4. Grant of Lease: Formal grant of the lease, specifying the premises and any exclusive or common areas
5. Term and Renewal: Duration of lease, commencement date, expiry date, and any renewal options
6. Rent and Operating Expenses: Rent amount, payment terms, review mechanisms, and operating expense obligations
7. Outgoings and Utilities: Responsibility for rates, utilities, insurance, and other property-related expenses
8. Use of Premises: Permitted use of the premises and any restrictions
9. Maintenance and Repairs: Responsibilities for maintenance, repairs, and replacements
10. Alterations and Improvements: Process and conditions for making alterations to the premises
11. Insurance: Required insurance coverage for both parties
12. Assignment and Subletting: Conditions and process for assigning or subletting the premises
13. Landlord's Covenants: Obligations and promises of the landlord
14. Tenant's Covenants: Obligations and promises of the tenant
15. Default and Remedies: Events of default and available remedies for both parties
16. Termination: Grounds and process for early termination
17. Dispute Resolution: Process for resolving disputes between parties
18. General Provisions: Standard clauses including notices, entire agreement, governing law, and severability
1. Guarantees: Required when there are personal or corporate guarantees for the tenant's obligations
2. Fit-out Works: Included when initial tenant fit-out works are required, specifying conditions and requirements
3. Green Lease Provisions: Environmental and sustainability obligations, included for buildings with specific environmental ratings or requirements
4. Retail-Specific Provisions: Additional provisions for retail premises, including trading hours and shopping center regulations
5. Seismic Requirements: Specific provisions regarding building seismic ratings and upgrade obligations, particularly relevant in earthquake-prone areas
6. Car Parking: Specific provisions for car parking arrangements if applicable
7. Naming Rights: Provisions regarding building or premises naming rights if granted to tenant
8. COVID-19 Provisions: Specific provisions dealing with pandemic-related issues and force majeure events
1. Schedule 1 - Premises Plan: Detailed plan showing the leased premises, common areas, and any exclusive use areas
2. Schedule 2 - Rent Schedule: Detailed breakdown of rent, including review dates and methodologies
3. Schedule 3 - Outgoings Schedule: List of outgoings and allocation method between tenants
4. Schedule 4 - Fit-out Specifications: Detailed specifications for any agreed tenant fit-out works
5. Schedule 5 - Building Rules: Building rules and regulations
6. Schedule 6 - Condition Report: Detailed report on the condition of the premises at lease commencement
7. Schedule 7 - Guarantor Provisions: Detailed terms of any guarantee arrangements
8. Appendix A - Required Insurance: Detailed insurance requirements for both parties
9. Appendix B - Maintenance Schedule: Detailed breakdown of maintenance responsibilities
Authors
Real Estate
Retail
Commercial Property
Office Space
Industrial
Hospitality
Healthcare
Education
Professional Services
Manufacturing
Logistics
Technology
Banking and Finance
Government and Public Sector
Legal
Property Management
Facilities Management
Operations
Finance
Risk and Compliance
Corporate Services
Administration
Real Estate
Business Development
Asset Management
Property Manager
Facilities Manager
Legal Counsel
Commercial Director
Chief Financial Officer
Real Estate Manager
Operations Manager
Asset Manager
Business Development Manager
Compliance Officer
Risk Manager
Branch Manager
Store Manager
Regional Manager
Treasury Manager
Contract Administrator
Property Lawyer
Leasing Executive
Corporate Services Manager
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