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Letter Of Intent To Lease
"I need a Letter of Intent to Lease for a retail space in Manchester city centre, where my company plans to open a flagship store, with an exclusivity period of 60 days and proposed lease term of 10 years starting March 2025."
1. Date and Parties: Date of the letter and full legal names and addresses of both prospective landlord and tenant
2. Property Description: Detailed description of the property including address and any relevant plans or specifications
3. Proposed Terms: Key commercial terms including proposed rent, lease duration, payment terms, and any special conditions
4. Timeline: Proposed timeline for lease completion and key milestones
5. Non-Binding Nature: Clear statement that this is not a binding lease agreement but rather an expression of intent
6. Governing Law: Statement that the letter and any subsequent lease will be governed by the laws of England and Wales
1. Exclusivity Period: Optional clause specifying a period during which the landlord agrees not to negotiate with other potential tenants
2. Deposit Provisions: Terms regarding any initial deposit or preliminary payments required during the negotiation phase
3. Due Diligence Requirements: Specific requirements for property inspection, documentation review, or other due diligence activities
4. Confidentiality: Provisions regarding the confidential nature of negotiations and any shared information
5. Break Clause: Conditions under which either party may terminate the negotiations
1. Property Plans: Detailed drawings or plans of the property to be leased
2. Heads of Terms: Detailed outline of proposed lease terms and conditions
3. Timeline Schedule: Detailed schedule of key dates, deadlines, and milestones for lease completion
4. Required Documentation: List of documents required from both parties to proceed with the lease
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