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5 Year Commercial Lease Agreement
"I need a 5 Year Commercial Lease Agreement for a retail space in downtown Toronto, with specific provisions for restaurant use and outdoor patio rights, starting March 1, 2025."
1. Parties: Identification of the landlord and tenant, including legal names and addresses
2. Background: Context of the lease agreement and brief description of the premises
3. Definitions: Definitions of key terms used throughout the lease agreement
4. Demise and Term: Description of the leased premises and duration of the lease
5. Rent and Additional Rent: Base rent, operating costs, property taxes, and other financial obligations
6. Security Deposit: Amount, form, and conditions of the security deposit
7. Use of Premises: Permitted use of the premises and any restrictions
8. Maintenance and Repairs: Responsibilities for maintenance, repairs, and replacements
9. Utilities and Services: Responsibility for utilities and building services
10. Insurance: Required insurance coverage for both parties
11. Assignment and Subletting: Conditions for transferring or subletting the lease
12. Alterations: Rules regarding modifications to the premises
13. Landlord's Covenants: Landlord's obligations and responsibilities
14. Tenant's Covenants: Tenant's obligations and responsibilities
15. Default and Remedies: Events of default and available remedies
16. Termination: Conditions and procedures for lease termination
17. Notice: Methods and requirements for formal communications
18. General Provisions: Miscellaneous legal provisions including governing law
1. Operating Hours: Required for retail properties or properties in mixed-use buildings with specific operating hour restrictions
2. Environmental Matters: Required for industrial properties or when handling hazardous materials
3. Signage Rights: Important for retail or commercial properties requiring exterior signage
4. Parking: Required when specific parking arrangements need to be detailed
5. Common Areas: Required for multi-tenant buildings or shopping centers
6. Option to Extend: Include when offering tenant the right to extend the lease term
7. Right of First Refusal: Include when giving tenant priority rights to lease additional space
8. Tenant Improvement Work: Required when premises will be modified before or during tenancy
9. Operating Covenants: Required for retail properties with specific operational requirements
10. Green Building Standards: Include for LEED-certified or environmentally conscious buildings
1. Schedule A - Floor Plan: Detailed plan showing the leased premises and measurements
2. Schedule B - Operating Costs: Detailed breakdown of includable operating costs and exclusions
3. Schedule C - Rules and Regulations: Building rules and regulations for all tenants
4. Schedule D - Tenant's Work: Specifications for any tenant improvements or modifications
5. Schedule E - Building Services: Details of services provided by landlord and hours of operation
6. Schedule F - Rent Schedule: Detailed breakdown of rent payments throughout the term
7. Schedule G - Environmental Standards: Environmental requirements and prohibited materials
8. Schedule H - Signage Specifications: Requirements and specifications for tenant signage
9. Schedule I - HVAC Standards: Standards for heating, ventilation, and air conditioning
10. Schedule J - Form of Tenant Insurance Certificate: Required form and content of insurance certificates
Authors
Retail
Office Space
Industrial
Hospitality
Healthcare
Professional Services
Technology
Manufacturing
Warehousing
Financial Services
Education
Entertainment
Food Services
Logistics
Legal
Finance
Operations
Facilities Management
Real Estate
Risk Management
Compliance
Administrative Services
Property Management
Asset Management
Business Development
Contract Management
Property Manager
Real Estate Director
Facilities Manager
Chief Financial Officer
Commercial Lawyer
Business Development Manager
Operations Director
Risk Manager
Compliance Officer
Real Estate Asset Manager
Leasing Manager
Contract Administrator
Corporate Counsel
Finance Director
Chief Operating Officer
Business Owner
Property Administrator
Lease Administrator
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