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Commercial Lease With Option To Purchase Template
"I need a Commercial Lease with Option to Purchase Template for a warehouse property in Melbourne, with a 3-year initial lease term starting March 2025, and an option to purchase that can be exercised after 18 months at market value plus 5%."
1. Parties: Identifies and defines the Landlord/Lessor and Tenant/Lessee with full legal names and details
2. Background: Outlines the context of the agreement, including property details and parties' intentions
3. Definitions and Interpretation: Defines key terms and establishes rules for interpreting the agreement
4. Grant of Lease: Formal grant of lease and specification of the leased premises
5. Term of Lease: Specifies the lease duration, commencement date, and any renewal provisions
6. Rent and Other Payments: Details base rent, payment schedule, review mechanisms, and other charges
7. Outgoings and Expenses: Specifies responsibility for utilities, maintenance, insurance, and other operating costs
8. Use of Premises: Permitted use of the premises and any restrictions
9. Maintenance and Repairs: Responsibilities for maintenance, repairs, and improvements
10. Insurance Requirements: Required insurance coverage for both parties
11. Option to Purchase: Terms and conditions of the purchase option, including price mechanism and exercise period
12. Exercise of Option: Process and requirements for exercising the purchase option
13. Settlement Provisions: Requirements and process for settlement if purchase option is exercised
14. Default and Termination: Events of default, remedies, and termination provisions
15. Assignment and Subletting: Rights and restrictions regarding assignment and subletting
16. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution
17. General Provisions: Standard boilerplate clauses including notices, severability, and entire agreement
1. Guarantee: Required when personal or corporate guarantees are needed for the lease or purchase option
2. Fit-out Works: Include when initial tenant fit-out works are required or permitted
3. Environmental Matters: Required for properties with specific environmental considerations or risks
4. GST Provisions: Detailed GST provisions when parties are GST-registered
5. Break Clause: Optional early termination provisions if agreed by parties
6. Right of First Refusal: Additional rights if tenant is given first right to purchase outside option period
7. Property Manager: Include when a third-party property manager is involved
8. Special Conditions: Any unique terms specific to the particular property or arrangement
1. Schedule 1 - Property Details: Detailed description of the premises including lot number, title references, and area
2. Schedule 2 - Rent Schedule: Detailed breakdown of rent payments, review dates, and calculation methods
3. Schedule 3 - Outgoings Schedule: List of outgoings and allocation between parties
4. Schedule 4 - Option to Purchase Terms: Detailed terms of the purchase option including price or valuation mechanism
5. Schedule 5 - Condition Report: Detailed report on the condition of the premises at lease commencement
6. Schedule 6 - Permitted Use: Detailed description of permitted activities and any restrictions
7. Appendix A - Plan of Premises: Floor plan or survey plan of the leased premises
8. Appendix B - Fit-out Specifications: Details of any agreed fit-out works and specifications
9. Appendix C - Building Rules: Building rules and regulations if in a multi-tenanted facility
Authors
Base Rent
Building
Business Day
Commencement Date
Common Areas
Consumer Price Index
Default Interest Rate
Default Rate
Eligible Option Holder
Environmental Laws
Event of Default
Exercise Notice
Exercise Period
Expiry Date
GST
GST Act
Guarantor
Insolvency Event
Land
Landlord
Landlord's Property
Lease
Lease Year
Legal Costs
Lessor's Fixtures
Market Review Date
Notice
Option
Option Exercise Date
Option Fee
Option Period
Outgoings
Permitted Use
Premises
Property
Purchase Price
Rates
Rent
Rent Review Date
Review Period
Security Deposit
Settlement
Settlement Date
Tenant
Tenant's Fixtures
Term
Termination Date
Transfer
Valuation
Valuer
Grant of Lease
Term and Renewal
Rent Payment
Rent Review
Security Deposit
Outgoings
Insurance
Maintenance and Repairs
Alterations and Improvements
Permitted Use
Option to Purchase
Purchase Price Determination
Option Exercise
Settlement
Assignment and Subletting
Default and Remedies
Termination
Property Access
Utilities and Services
Compliance with Laws
Environmental Matters
GST
Building Rules
Quiet Enjoyment
Emergency Procedures
Signage
Insurance Requirements
Indemnification
Force Majeure
Dispute Resolution
Notices
Guarantees
Representation and Warranties
Confidentiality
Costs and Stamp Duty
Governing Law
Severability
Entire Agreement
Commercial Real Estate
Retail
Manufacturing
Warehousing and Logistics
Healthcare
Professional Services
Hospitality
Education
Technology
Industrial
Agriculture
Entertainment and Recreation
Legal
Finance
Operations
Real Estate
Facilities Management
Risk Management
Procurement
Business Development
Asset Management
Property Management
Corporate Services
Administration
Chief Executive Officer
Chief Financial Officer
Property Manager
Facilities Manager
Real Estate Manager
Legal Counsel
Commercial Lawyer
Business Development Manager
Operations Manager
Finance Director
Asset Manager
Risk Manager
Procurement Manager
Company Secretary
Commercial Director
Lease Administrator
Property Development Manager
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