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Commercial Parking Lot Lease Agreement
"I need a Commercial Parking Lot Lease Agreement for a 200-space parking facility at our Toronto shopping center, which we'll be leasing to a professional parking management company starting March 2025, with specific provisions for revenue sharing and winter maintenance."
1. Parties: Identification of the landlord and tenant, including legal names, addresses, and company registration details
2. Background: Context of the agreement and brief description of the parking lot facility and intended use
3. Definitions: Definitions of key terms used throughout the agreement
4. Demised Premises: Detailed description of the leased parking lot, including exact location, boundaries, and number of parking spaces
5. Term and Renewal: Duration of the lease, commencement date, and any renewal options
6. Rent and Payment Terms: Base rent, payment schedule, late payment penalties, and rent adjustment mechanisms
7. Operating Costs and Utilities: Allocation of costs for maintenance, utilities, property taxes, and other operating expenses
8. Use of Premises: Permitted uses of the parking lot and any restrictions on use
9. Maintenance and Repairs: Responsibilities for maintenance, repairs, and upkeep of the parking facility
10. Insurance and Liability: Required insurance coverage and allocation of liability between parties
11. Default and Remedies: Events of default and available remedies for both parties
12. Assignment and Subletting: Terms governing the transfer of lease rights or subletting of parking spaces
13. Termination: Conditions and procedures for early termination of the lease
14. Governing Law: Specification of applicable law and jurisdiction
15. Notice Provisions: Methods and addresses for official communications between parties
1. Revenue Sharing: Terms for sharing parking fee revenue between landlord and tenant, used when the parking lot is operated as a paid facility
2. Security Measures: Requirements for security personnel, cameras, or other security systems, included when specific security measures are agreed upon
3. Environmental Compliance: Specific environmental obligations and protections, included when there are particular environmental concerns
4. Snow Removal: Specific provisions for snow removal services and responsibility, included in locations with significant snowfall
5. Valet Services: Terms governing valet parking services, included when valet parking is offered
6. Electric Vehicle Charging: Provisions for installation and operation of EV charging stations, included when EV charging is part of the facility
7. Special Events: Terms for use of the parking lot during special events, included when the lot is near event venues
8. Signage Rights: Terms governing installation and maintenance of signs, included when specific signage requirements exist
1. Schedule A - Site Plan: Detailed plan showing the layout of the parking lot, including dimensions and number of spaces
2. Schedule B - Operating Costs: Detailed breakdown of operating costs and allocation between parties
3. Schedule C - Insurance Requirements: Specific insurance requirements including types and amounts of coverage
4. Schedule D - Maintenance Standards: Detailed maintenance requirements and standards for the parking facility
5. Schedule E - Rate Schedule: Schedule of parking rates and fees, if applicable
6. Appendix 1 - Property Survey: Professional survey of the parking lot property
7. Appendix 2 - Environmental Assessment: Environmental assessment report or baseline study
8. Appendix 3 - Rules and Regulations: Detailed rules and regulations for use of the parking facility
Authors
Additional Rent
Applicable Laws
Base Rent
Business Day
Business Hours
Commencement Date
Common Areas
Compound Interest
Demised Premises
Environmental Laws
Event of Default
Force Majeure
GST/HST
Hazardous Substances
Improvements
Insurance Requirements
Landlord's Work
Lease Year
Operating Costs
Operating Hours
Parking Facility
Parking Spaces
Permitted Use
Property
Property Taxes
Reasonable Notice
Renewal Term
Rent
Security Deposit
Snow Removal Services
Structural Components
Substantial Damage
Term
Tenant's Property
Tenant's Work
Utilities
Winter Maintenance
Term and Renewal
Rent and Payment
Operating Costs
Security Deposit
Use and Occupancy
Maintenance and Repairs
Utilities
Insurance
Liability and Indemnification
Assignment and Subletting
Default and Remedies
Termination
Force Majeure
Environmental Compliance
Health and Safety
Compliance with Laws
Property Taxes
Alterations and Improvements
Signage
Security Measures
Snow Removal
Access Rights
Quiet Enjoyment
Representations and Warranties
Notice Requirements
Dispute Resolution
Governing Law
Severability
Entire Agreement
Real Estate
Commercial Property Management
Retail
Hospitality
Healthcare
Entertainment
Transportation
Parking Management
Shopping Centers
Office Buildings
Mixed-use Development
Industrial Parks
Legal
Real Estate
Facilities Management
Operations
Risk Management
Property Management
Asset Management
Business Development
Compliance
Finance
Procurement
Property Manager
Real Estate Manager
Facilities Manager
Operations Director
Legal Counsel
Commercial Lease Administrator
Asset Manager
Business Development Manager
Risk Manager
Parking Operations Manager
Commercial Property Agent
Environmental Compliance Officer
Chief Operating Officer
Real Estate Director
Contract Administrator
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