The 10 Year Lease Agreement is a crucial document for establishing long-term occupancy rights and obligations in Singapore's property market. This agreement is particularly relevant for commercial and industrial tenancies where businesses require security of tenure and substantial investment in the premises. The document comprehensively covers rent structures, maintenance responsibilities, permitted modifications, and compliance with Singapore's strict property regulations. It's designed to provide clarity and protection for both landlord and tenant while ensuring adherence to local property laws and commercial practices.
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Key Requirements PROMPT example:
10 Year Lease Agreement
"Need a 10 Year Lease Agreement for a 50,000 square foot industrial warehouse in Singapore's Jurong area, with an international logistics company as tenant, starting March 2025, including specific provisions for heavy machinery installation and 24/7 operations."
1. Parties: Details of landlord and tenant, including registration numbers and addresses
2. Background: Context of the lease arrangement and property details
3. Definitions: Key terms used throughout the agreement
4. Demise: Description of property being leased and term of lease
5. Rent and Payment Terms: Rental amount, payment schedule, and review mechanisms
6. Tenant's Covenants: Obligations of the tenant including maintenance, use, and insurance
7. Landlord's Covenants: Obligations of the landlord including quiet enjoyment and structural repairs
8. Termination Provisions: Circumstances and procedures for early termination
1. Break Clause: Optional provisions for early termination options - include when parties want flexibility to end lease early
2. Rent Review: Optional mechanism for adjusting rent - include for longer leases where market conditions may change
3. Service Charge Provisions: Optional provisions for additional charges for building services - include for multi-tenant buildings with shared services
4. Assignment and Subletting: Optional provisions for rights to transfer lease or sublet - include when tenant may need flexibility to transfer rights
1. Property Plan: Detailed floor plan and property boundaries
2. Inventory: List of fixtures, fittings, and equipment included
3. Service Charge Schedule: Breakdown of service charges and calculation method
4. Permitted Use: Detailed description of allowed property usage
5. State of Repair Schedule: Condition report at start of lease
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