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Lease Option Property For Sale
"I need a Lease Option Property For Sale agreement for a commercial property in Manchester, with a 2-year option period starting March 2025, where the tenant will pay £2,000 monthly rent with an agreed purchase price of £450,000."
1. Parties: Details of the option holder (buyer) and property owner (seller)
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Grant of Option: Terms of the option, including duration and exercise conditions
5. Option Price: Purchase price and payment terms during option period
6. Lease Terms: Terms governing the lease during the option period
7. Exercise of Option: Process and requirements for exercising the option
8. Completion: Requirements and process for completing the sale
1. Property Management: Maintenance responsibilities during option period - used when specific maintenance arrangements are required
2. Insurance: Insurance requirements during option period - used when specific insurance arrangements are needed
3. Assignment: Rights to assign the option - used when assignment rights are to be granted
4. Default Provisions: Consequences of default by either party - used when specific default remedies are required
1. Schedule 1 - Property Description: Detailed description of the property including title information
2. Schedule 2 - Lease Terms: Full terms of the lease during option period
3. Schedule 3 - Payment Schedule: Detailed breakdown of payments and dates
4. Schedule 4 - Property Condition Report: Current condition of the property
5. Schedule 5 - Property Plans: Plans and drawings of the property
6. Schedule 6 - Title Documents: Copies of relevant title documents
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