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1. Parties: Identifies and provides full legal details of the landlord/optionor and tenant/optionee
2. Background: Establishes the context of the agreement, including property ownership and parties' intentions
3. Definitions: Defines key terms used throughout the agreement
4. Property Description: Detailed description of the property subject to the lease and option
5. Lease Terms: Specifies rent amount, payment terms, duration, and other standard lease conditions
6. Option Terms: Details of the option to purchase, including option fee, purchase price, and exercise period
7. Exercise of Option: Procedures and requirements for exercising the purchase option
8. Property Maintenance and Repairs: Responsibilities for maintaining and repairing the property during the lease term
9. Insurance and Property Taxes: Requirements for insurance coverage and responsibility for property taxes
10. Default and Remedies: Consequences of default under either the lease or option provisions
11. Assignment and Subletting: Terms governing the ability to assign or sublet the property or option rights
12. Notices: Requirements for giving formal notices under the agreement
13. Governing Law: Specifies applicable Canadian law and jurisdiction
14. Execution: Signature blocks and execution requirements
1. Tenant Improvements: Used when the tenant is permitted to make improvements to the property, specifying approval processes and ownership of improvements
2. Environmental Matters: Include when the property has known environmental issues or when environmental warranties are required
3. Property Management: Required when specific property management arrangements need to be detailed
4. Option Extension Terms: Include when the option period may be extended under certain conditions
5. Financing Provisions: Used when specific financing arrangements are part of the option structure
6. Due Diligence Period: Include when the optionee requires a period to investigate the property before exercising the option
7. Right of First Refusal: Used when the tenant is granted additional rights regarding property sale to third parties
8. Special Use Provisions: Include when the property has specific use restrictions or requirements
1. Schedule A - Property Description: Detailed legal description of the property, including surveys and plans
2. Schedule B - Rent Schedule: Detailed breakdown of rent payments, including any escalations
3. Schedule C - Option Price Calculation: Formula or method for determining the final purchase price
4. Schedule D - Permitted Uses: Detailed list of permitted uses of the property during the lease term
5. Schedule E - Property Condition Report: Documentation of property condition at lease commencement
6. Schedule F - Existing Encumbrances: List of any existing liens, encumbrances, or restrictions on the property
7. Appendix 1 - Required Insurance: Detailed insurance requirements and coverage limits
8. Appendix 2 - Environmental Reports: Any existing environmental assessments or reports
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Retail
Industrial
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Real Estate
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Risk Management
Operations
Business Development
Facilities
Finance
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Property Manager
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Real Estate Investment Manager
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