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5 Year Lease Agreement
"I need a 5 Year Lease Agreement for a retail space in Auckland's CBD, starting March 2025, with specific provisions for after-hours access and signage rights for a flagship store location."
1. Parties: Identification of the landlord and tenant, including full legal names, addresses, and company details if applicable
2. Background: Context of the lease arrangement and brief description of the premises
3. Definitions: Definitions of key terms used throughout the lease agreement
4. Grant of Lease: Formal grant of the lease, specifying the premises and term
5. Term and Renewal: Details of the 5-year term, commencement date, and any renewal rights
6. Rent and Operating Expenses: Rental amount, payment terms, operating expenses, and outgoings
7. Rent Review: Mechanism and timing for rent reviews during the term
8. Use of Premises: Permitted use of the premises and any restrictions
9. Maintenance and Repairs: Responsibilities for maintenance, repairs, and alterations
10. Insurance: Insurance requirements for both landlord and tenant
11. Default and Remedies: Events of default and available remedies
12. Assignment and Subletting: Conditions for assignment or subletting of the premises
13. Quiet Enjoyment: Tenant's right to peaceful occupation of the premises
14. Termination: Circumstances and process for early termination
15. Execution: Signing provisions and attestation
1. Guarantees: Required when there are personal or corporate guarantees for the tenant's obligations
2. Fitout Works: Include when initial tenant fitout works are required
3. Car Parking: Required when car parking spaces are included in the lease
4. Naming Rights: Include when tenant has rights to building or premises naming
5. Environmental Obligations: Include for properties with specific environmental requirements or certifications
6. Seismic Requirements: Required for buildings in earthquake-prone areas or with specific seismic ratings
7. Covid-19 Provisions: Include provisions dealing with pandemic-related disruptions
8. Operating Hours: Required for premises in shopping centers or with restricted operating hours
1. Schedule 1 - Premises Plan: Detailed plan showing the leased premises and common areas
2. Schedule 2 - Rent Schedule: Detailed breakdown of rent, including base rent and scheduled increases
3. Schedule 3 - Operating Expenses: Itemized list of operating expenses and allocation method
4. Schedule 4 - Building Rules: Rules and regulations governing the use of the building
5. Schedule 5 - Condition Report: Detailed report on the condition of the premises at commencement
6. Schedule 6 - Fitout Specifications: Specifications for any approved tenant fitout works
7. Schedule 7 - Insurance Requirements: Detailed insurance requirements for both parties
8. Appendix A - Guarantees: Forms of any required guarantees
9. Appendix B - Building Warrant of Fitness: Current building warrant of fitness and compliance schedule
Authors
Retail
Commercial Office
Industrial
Hospitality
Healthcare
Education
Professional Services
Manufacturing
Logistics
Technology
Entertainment
Banking and Finance
Legal
Property Management
Facilities Management
Operations
Finance
Risk and Compliance
Real Estate
Administrative
Executive
Procurement
Property Manager
Facilities Manager
Real Estate Manager
Commercial Lawyer
Legal Counsel
Operations Manager
Chief Financial Officer
Business Development Manager
Asset Manager
Leasing Manager
Risk Manager
Compliance Officer
Company Secretary
Managing Director
Chief Executive Officer
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