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Commercial Real Estate Agreement
"I need a Commercial Real Estate Agreement for the sale of a multi-tenant office building in Cape Town, with specific provisions for existing tenant rights and a phased handover process planned for March 2025."
1. Parties: Identification and details of all parties involved in the agreement, including their registration numbers for companies or ID numbers for individuals
2. Background: Context of the transaction, including brief description of the property and purpose of the agreement
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules for interpreting the agreement
4. Property Description: Comprehensive legal description of the property, including erf number, registration division, and physical address
5. Purchase Price/Rental: Detailed breakdown of the purchase price or rental amount, payment terms, and escalation provisions
6. Payment Terms: Specifics of payment method, timing, and consequences of default
7. Transfer and Registration: Process and requirements for property transfer and registration in the Deeds Office
8. Warranties and Representations: Warranties given by both parties regarding the property and their capacity to enter into the agreement
9. Occupation and Possession: Date of occupation, conditions for possession, and any occupation-related charges
10. Property Condition: Current state of the property, including any defects or repairs needed
11. Insurance and Risk: Requirements for insurance and allocation of risk between parties
12. Maintenance and Repairs: Responsibilities for property maintenance and repairs
13. Rates, Taxes and Utilities: Allocation of responsibility for municipal rates, taxes, and utility charges
14. Breach and Termination: Consequences of breach and conditions for termination of the agreement
15. Dispute Resolution: Procedures for resolving disputes, including mediation and arbitration provisions
16. Notices and Domicilia: Contact details and formal addresses for legal notices
17. General Provisions: Standard legal clauses including whole agreement, variation, and governing law
1. Development Obligations: Used when the property requires development or construction before occupation
2. Tenant Installation: Applicable for lease agreements where tenant improvements are permitted
3. Managing Agent: Required when a third party will manage the property
4. Environmental Matters: Necessary when there are environmental concerns or compliance requirements
5. Operating Hours and Access: For multi-tenant commercial buildings with controlled access
6. Trading Obligations: Used in retail properties with specific trading requirements
7. Option to Purchase/Renew: When including future purchase options or lease renewal terms
8. Property Management Rules: For properties within managed developments or complexes
9. Parking and Common Areas: When the property includes shared facilities or parking arrangements
10. Mortgage Bond Conditions: Required when the purchase is subject to bond approval
1. Schedule A - Property Details: Detailed technical description of the property, including diagrams and plans
2. Schedule B - Payment Schedule: Detailed breakdown of all payments, including deposit, installments, or rental escalations
3. Schedule C - Occupation Checklist: Inventory and condition report of the property at occupation
4. Schedule D - Approved Plans: Municipal approved building plans and zoning certificates
5. Schedule E - Maintenance Schedule: Detailed maintenance responsibilities and schedules
6. Schedule F - Insurance Requirements: Specific insurance requirements and minimum coverage details
7. Schedule G - Managing Agent Agreement: Terms of appointment and responsibilities of managing agent
8. Schedule H - Property Rules and Regulations: Building rules, body corporate rules, or development guidelines
9. Appendix 1 - Due Diligence Reports: Technical, legal, and environmental due diligence findings
10. Appendix 2 - Compliance Certificates: Required compliance certificates including electrical, gas, and beetle certificates
Authors
Applicable Laws
Body Corporate
Business Day
Commencement Date
Common Areas
Compliance Certificates
Conveyancer
Deeds Office
Deposit
Development Period
Due Diligence Period
Effective Date
Erf
Escalation Rate
Good Standing
Improvements
Land
Lease Period
Legal Costs
Managing Agent
Municipal Rates
Occupation Date
Operating Costs
Parties
Permitted Use
Plans and Specifications
Premises
Property
Purchase Price
Rates and Taxes
Registration Date
Rental
FICA Requirements
Schedule of Defects
Security Deposit
Seller's Warranties
Service Charges
Signature Date
Transfer
Transfer Date
Transfer Duty
Utilities
VAT
Zoning Certificate
Operating Hours
Maintenance Obligations
Insurance Requirements
Force Majeure
Material Breach
Sale and Purchase
Payment Terms
Transfer and Registration
Warranties and Representations
Due Diligence
Occupation and Possession
Property Condition
Insurance
Maintenance and Repairs
Operating Costs
Utilities
Rates and Taxes
Compliance
Zoning and Use
Environmental
Health and Safety
Access and Security
Common Areas
Property Management
Assignment and Subletting
Force Majeure
Default and Remedies
Termination
Dispute Resolution
Notices
Confidentiality
Governing Law
Force Majeure
Severability
Entire Agreement
Amendment
Waiver
Indemnification
Risk and Liability
Construction and Development
Property Rules
Intellectual Property
Anti-corruption
Data Protection
Competition Law
Real Estate
Commercial Property
Retail
Industrial
Office Space
Hospitality
Healthcare
Financial Services
Professional Services
Manufacturing
Logistics
Education
Technology
Legal
Real Estate
Property Management
Facilities Management
Operations
Finance
Risk and Compliance
Asset Management
Business Development
Investment
Construction and Development
Acquisitions
Valuations
Property Services
Chief Executive Officer
Property Manager
Real Estate Director
Facilities Manager
Commercial Lawyer
Legal Counsel
Property Development Manager
Asset Manager
Operations Director
Finance Director
Risk Manager
Compliance Officer
Real Estate Agent
Property Valuer
Commercial Director
Investment Manager
Portfolio Manager
Leasing Manager
Construction Manager
Building Inspector
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