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Lease With Option To Buy Commercial Property
"I need a Lease With Option To Buy Commercial Property agreement for a retail space in Singapore's Orchard Road area, with a 3-year lease term starting March 2025 and an option to purchase the property at a fixed price of SGD 5.2 million exercisable after the first 18 months."
1. Parties: Identification of lessor and lessee with full legal details
2. Background: Context of the lease and option arrangement
3. Definitions: Key terms used throughout the agreement
4. Property Details: Specific description of the commercial property including address and boundaries
5. Lease Terms: Duration, rent, payment terms, and conditions of the lease
6. Option to Purchase: Terms and conditions of the purchase option, including price and exercise period
7. Maintenance and Repairs: Responsibilities for property maintenance
8. Insurance Requirements: Required insurance coverage and responsibilities
9. Termination Provisions: Conditions and process for terminating the agreement
1. Fit-out Works: Terms for tenant improvements and modifications when tenant requires property modifications
2. Assignment and Subletting: Rights and restrictions regarding transfer of lease rights when transfer rights are important to parties
3. Environmental Compliance: Specific environmental obligations for properties with environmental considerations
1. Property Plan: Detailed floor plan and property boundaries
2. Inventory List: List of fixtures and fittings included in lease/sale
3. Option Exercise Form: Template for exercising the purchase option
4. Building Rules and Regulations: Specific building management requirements
5. Maintenance Schedule: Detailed maintenance responsibilities and schedules
6. Permitted Use Guidelines: Specific allowed uses of the property
Authors
Property
Commencement Date
Completion Date
Lease Term
Option Period
Option Fee
Purchase Price
Option Exercise Date
Permitted Use
Rent
Security Deposit
Business Day
Common Areas
Force Majeure
Lessor
Lessee
Option to Purchase
Building
Fixtures and Fittings
Service Charge
Utilities
Maintenance Charges
Property Tax
Stamp Duty
Bank Guarantee
Interest Rate
Insurance Requirements
Building Rules and Regulations
Assignment
Subletting
Default Events
Renewal Term
Due Diligence Period
Valuation
Certificate of Title
Encumbrances
Planning Permission
Building and Construction Authority
Urban Redevelopment Authority
Relevant Authorities
Rent and Payment
Option to Purchase
Property Use
Insurance
Maintenance and Repairs
Alterations and Improvements
Assignment and Subletting
Default and Remedies
Termination
Force Majeure
Utilities and Services
Property Access
Compliance with Laws
Environmental Compliance
Health and Safety
Security Deposit
Property Tax
Stamp Duty
Due Diligence
Title and Ownership
Warranties and Representations
Indemnification
Dispute Resolution
Notices
Governing Law
Entire Agreement
Severability
Confidentiality
Building Rules
Common Areas
Fire Safety
Pest Control
Signage Rights
Renewal Options
Registration of Option
Condition of Property
Fixtures and Fittings
Authority Approvals
Property Management
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