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Lease Purchase Agreement
"I need a Lease Purchase Agreement for a commercial warehouse in Dublin, with a 2-year initial lease period starting March 2025 and purchase option exercisable after 18 months, including specific provisions for heavy machinery and loading bay usage."
1. Parties: Identification of the Lessor/Vendor and Lessee/Purchaser with full legal names and addresses
2. Background: Context of the agreement, including property ownership status and parties' intentions regarding lease and future purchase
3. Definitions: Definitions of key terms used throughout the agreement, including Property, Purchase Price, Lease Payments, Option Period
4. Property Details: Detailed description of the property subject to the lease purchase agreement, including legal description and any inclusions/exclusions
5. Lease Terms: Terms of the lease period including duration, rent amount, payment dates, and maintenance responsibilities
6. Purchase Option: Details of the purchase option including purchase price, how and when the option can be exercised, and credit of lease payments towards purchase
7. Payment Terms: Complete payment structure including lease payments, option fee, purchase price, and treatment of deposits
8. Property Maintenance and Repairs: Responsibilities for maintenance, repairs, and improvements during the lease period
9. Insurance and Risk: Requirements for property insurance and allocation of risk during lease period
10. Default and Remedies: Consequences of default under either lease or purchase terms and available remedies
11. Assignment and Subletting: Restrictions on transfer of rights under the agreement
12. Notices: How formal communications between parties should be made and delivered
13. Governing Law: Confirmation of Irish law governance and jurisdiction
14. Termination: Circumstances under which the agreement can be terminated and consequences
1. Planning and Zoning Compliance: Required for properties where specific use permissions are crucial or where future development is contemplated
2. Environmental Provisions: Required when property has known environmental issues or specific environmental compliance requirements
3. Management Company Provisions: Required for apartments or properties within managed developments
4. Special Conditions: Used when specific conditions must be met before purchase option can be exercised
5. Tax Provisions: Required when specific tax arrangements or implications need to be addressed
6. Break Clauses: Optional provisions allowing early termination under specific circumstances
7. Guarantor Provisions: Required when a guarantor is party to the agreement
1. Schedule 1 - Property Description: Detailed legal description of the property including boundaries, maps, and plans
2. Schedule 2 - Payment Schedule: Detailed breakdown of all payments including lease payments, purchase option fee, and purchase price calculations
3. Schedule 3 - Property Inventory: Inventory of any furnishings, fixtures, or equipment included in the lease/sale
4. Schedule 4 - Property Condition Report: Detailed report on the condition of the property at the start of the lease
5. Schedule 5 - Special Conditions: Any special conditions or requirements for exercising the purchase option
6. Appendix A - Property Title Documents: Copies of relevant title documents and property certificates
7. Appendix B - Planning Documentation: Copies of relevant planning permissions and certificates
8. Appendix C - Energy Performance Certificate: Current energy performance certificate for the property
Authors
Business Day
Commencement Date
Completion
Completion Date
Deposit
Effective Date
Exercise Notice
Exercise Period
Fixtures and Fittings
Lease Period
Lease Payments
Lessee/Purchaser
Lessor/Vendor
Option
Option Fee
Option Period
Permitted Use
Property
Purchase Price
Purchase Option Date
Rent
Schedule of Condition
Service Charges
Term
Title Documents
Transfer Date
Utilities
VAT
Working Hours
Management Company
Common Areas
Building
Guarantor
Insurance Requirements
Maintenance Obligations
Payment Due Date
Relevant Authority
Security Deposit
Stamp Duty
Surveyor
Solicitor
Planning Permission
Environmental Laws
Force Majeure Event
Interest Rate
Material Breach
Outgoings
Grant of Lease
Purchase Option
Property Use
Rent and Payment
Deposit
Option Fee
Purchase Price
Property Condition
Maintenance and Repairs
Insurance
Assignment and Subletting
Alterations
Utilities and Outgoings
Property Access
Default and Remedies
Force Majeure
Termination
Property Transfer
Title Warranty
Representations and Warranties
Risk Allocation
Indemnification
Property Management
Planning and Zoning
Environmental Compliance
Health and Safety
Notices
Dispute Resolution
Governing Law
Severability
Entire Agreement
Amendment
Waiver
Costs and Expenses
Registration
Confidentiality
Further Assurance
Time of Essence
Succession and Assignment
Real Estate
Residential Property
Commercial Property
Retail
Industrial
Agricultural
Hospitality
Office Space
Financial Services
Property Development
Legal
Real Estate
Finance
Operations
Risk Management
Compliance
Property Management
Asset Management
Business Development
Facilities Management
Property Manager
Real Estate Agent
Legal Counsel
Contract Manager
Finance Director
Commercial Director
Property Developer
Asset Manager
Facilities Manager
Risk Manager
Compliance Officer
Operations Director
Investment Manager
Property Surveyor
Business Development Manager
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