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Exclusive Lease Agreement
"I need an Exclusive Lease Agreement for a retail space in a shopping mall in Mumbai, where the tenant will have exclusive rights to operate a luxury fashion store, with a 5-year term starting January 2025 and including restrictions on competing businesses within 500 meters of the premises."
1. Parties: Identification and details of the lessor (landlord) and lessee (tenant), including their addresses and legal status
2. Background: Context of the lease agreement, brief description of the property, and purpose of the lease
3. Definitions: Definitions of key terms used throughout the agreement
4. Grant of Lease: Clear statement of the exclusive lease grant, specifying the property and exclusivity rights
5. Term and Renewal: Duration of the lease, commencement date, and renewal provisions
6. Rent and Deposits: Rent amount, payment terms, security deposit details, and escalation clauses
7. Permitted Use: Specified purposes for which the property may be used and exclusivity provisions
8. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance and repairs
9. Lessor's Covenants: Obligations and warranties of the landlord
10. Lessee's Covenants: Obligations and warranties of the tenant
11. Insurance: Insurance requirements for both parties
12. Termination: Grounds and procedures for termination of the lease
13. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction
14. Notices: Method and addresses for serving notices
15. Execution: Signature blocks and execution formalities
1. Utilities and Services: Details of responsibility for utility payments and services - include when utilities are not included in rent
2. Subletting and Assignment: Rights and restrictions regarding subletting - include when subletting might be permitted
3. Alterations and Improvements: Rights to make changes to the property - include when significant modifications might be needed
4. Force Majeure: Provisions for unforeseen circumstances - include when specific risks need to be addressed
5. Environmental Compliance: Environmental obligations - include for commercial or industrial properties
6. Common Areas: Rules for shared spaces - include for properties in multi-tenant buildings
7. Signage Rights: Rules for external signage - include for commercial properties
8. Break Clause: Early termination options - include when early exit might be needed
1. Schedule 1 - Property Description: Detailed description of the leased property including boundaries, floor plans, and measurements
2. Schedule 2 - Rent Schedule: Detailed breakdown of rent payments, escalations, and due dates
3. Schedule 3 - Inventory: List of fixtures, fittings, and furniture included in the lease
4. Schedule 4 - Service Charges: Breakdown of service charges and maintenance fees if applicable
5. Schedule 5 - House Rules: Specific rules and regulations for the use of the property
6. Appendix A - Property Photos: Photographic evidence of the property's condition at lease commencement
7. Appendix B - Maintenance Schedule: Detailed maintenance responsibilities and schedules
Authors
Real Estate
Retail
Commercial Office Space
Industrial
Hospitality
Healthcare
Education
Manufacturing
Warehousing and Logistics
Information Technology
Banking and Financial Services
Legal
Real Estate
Facilities Management
Operations
Compliance
Finance
Administration
Property Management
Asset Management
Business Development
Real Estate Manager
Property Manager
Legal Counsel
Facilities Manager
Commercial Director
Operations Manager
Contract Administrator
Real Estate Agent
Leasing Manager
Corporate Counsel
Property Administrator
Asset Manager
Real Estate Director
Compliance Officer
Business Development Manager
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