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Commercial Lease To Purchase Agreement
"I need a Commercial Lease To Purchase Agreement for a retail space in downtown Miami, with a 3-year lease term starting January 2025 and an option to purchase at $2.5M that can be exercised after the first 18 months of tenancy."
1. Parties: Identification of lessor/seller and lessee/buyer with full legal details
2. Background: Context of the agreement and property description
3. Definitions: Key terms used throughout the agreement
4. Lease Terms: Duration, rent amount, payment terms, and conditions
5. Purchase Option Terms: Purchase price, option period, and exercise conditions
6. Property Maintenance: Responsibilities for maintenance and repairs
7. Insurance Requirements: Required insurance coverage for both parties
8. Default and Remedies: Consequences of default and available remedies
1. Environmental Provisions: Environmental requirements and responsibilities when property has potential environmental concerns
2. Assignment and Subletting: Rights and restrictions regarding transfer of interests when parties want to address potential transfer scenarios
3. Property Improvements: Terms regarding modifications to the property when improvements are anticipated or permitted
1. Property Description Schedule: Detailed legal description of the property
2. Rent Schedule: Detailed breakdown of rent payments and escalations
3. Purchase Price Calculation Schedule: Formula or method for determining final purchase price
4. Property Condition Report: Documentation of property condition at lease commencement
5. Insurance Requirements Schedule: Detailed insurance specifications and coverage requirements
Authors
Property
Lease Term
Commencement Date
Expiration Date
Base Rent
Additional Rent
Security Deposit
Option Period
Option Purchase Price
Exercise Notice
Permitted Use
Common Areas
Operating Expenses
Property Tax
Insurance
Improvements
Force Majeure
Default
Closing Date
Title Company
Environmental Hazards
Utilities
Business Days
Applicable Laws
Assignment
Sublease
Maintenance
Repairs
Alterations
Fixtures
Due Diligence Period
Certificate of Occupancy
Zoning Laws
Earnest Money
Closing Costs
Property Condition
Casualty
Condemnation
Rent Payment
Option to Purchase
Purchase Price
Property Use
Maintenance and Repairs
Insurance
Property Tax
Utilities
Default and Remedies
Assignment and Subletting
Environmental Compliance
Alterations and Improvements
Access and Inspection
Indemnification
Title and Conveyance
Due Diligence
Force Majeure
Casualty and Condemnation
Security Deposit
Operating Expenses
Representations and Warranties
Quiet Enjoyment
Governing Law
Dispute Resolution
Notices
Severability
Amendments
Termination
Closing Conditions
Property Condition
Compliance with Laws
Holdover
Signage Rights
Parking
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