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Memorandum Of Lease Agreement
"I need a Memorandum of Lease Agreement for a commercial office space in Mumbai, with a 3-year term starting January 2025, including provisions for IT infrastructure and 24/7 access rights."
1. Parties: Identification and details of the lessor/landlord and lessee/tenant, including names, addresses, and contact information
2. Background: Context of the lease arrangement and brief property introduction
3. Definitions: Definitions of key terms used throughout the agreement
4. Demised Premises: Detailed description of the leased property and its boundaries
5. Term and Renewal: Duration of lease, commencement date, and renewal terms
6. Rent and Payment Terms: Rent amount, payment schedule, mode of payment, and escalation terms
7. Security Deposit: Amount, payment terms, and conditions for refund
8. Utilities and Maintenance: Responsibility for utilities, maintenance obligations of both parties
9. Use of Premises: Permitted use of property and restrictions
10. Rights and Obligations: General rights and obligations of both lessor and lessee
11. Termination: Grounds and procedure for termination
12. Governing Law: Applicable law and jurisdiction
13. Notices: Method and addresses for serving notices
14. Execution: Signature blocks and witness details
1. Fit-out Works: Include when tenant is permitted to make modifications to the premises
2. Sub-letting: Include when sub-letting is permitted, specifying terms and conditions
3. Force Majeure: Include for longer-term leases to address unforeseen circumstances
4. Insurance: Include when specific insurance requirements are needed
5. Common Areas: Include for properties in commercial complexes or apartment buildings
6. Lock-in Period: Include when there's a mandatory minimum period of occupancy
7. Property Management: Include for properties with management services
8. Green Lease Provisions: Include for environmentally conscious arrangements
1. Schedule A - Property Description: Detailed description of property including floor plan and measurements
2. Schedule B - Rent Schedule: Detailed breakdown of rent, deposits, and payment schedule
3. Schedule C - Inventory List: List of fixtures, fittings, and furniture included in the lease
4. Schedule D - House Rules: Specific rules and regulations for property use
5. Schedule E - Maintenance Schedule: Detailed maintenance responsibilities and schedules
6. Schedule F - Handover Protocol: Condition report and handover procedures
7. Appendix 1 - Required Permits: Copies of relevant permits and certificates
8. Appendix 2 - Property Photos: Photographic evidence of property condition at lease start
Authors
Real Estate
Commercial Property
Residential Property
Retail
Industrial
Office Space
Hospitality
Manufacturing
Warehousing
Co-working Spaces
Education
Healthcare
Legal
Real Estate
Facilities Management
Operations
Administration
Compliance
Property Management
Asset Management
Contract Management
Business Development
Property Manager
Real Estate Manager
Facilities Manager
Legal Counsel
Corporate Lawyer
Real Estate Agent
Leasing Manager
Operations Manager
Asset Manager
Property Administrator
Real Estate Director
Compliance Officer
Contract Manager
Business Development Manager
Site Manager
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