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Long Term Lease Agreement
"I need a Long Term Lease Agreement for a Grade A office building in Manchester city centre, with a 15-year term starting from March 2025, including break options at years 5 and 10, and specific provisions for green building certification maintenance."
1. Parties: Identification and details of landlord and tenant
2. Background: Context of the lease and property description
3. Definitions: Key terms used throughout the lease including statutory references and interpretation
4. Demise: The actual grant of the lease, term length, and property description
5. Rent and Payment Terms: Rent amount, payment schedule, review mechanisms, and interest on late payments
6. Tenant Covenants: Core obligations of the tenant including repair, decoration, alterations, statutory compliance
7. Landlord Covenants: Core obligations of the landlord including quiet enjoyment, insurance, and repairs
8. Insurance Provisions: Requirements for building insurance, tenant obligations, and reinstatement provisions
9. Termination Rights: Break clauses, forfeiture provisions, and termination procedures
1. Service Charge Provisions: Details of service charge calculation and payment - used for multi-let buildings or estates
2. Assignment and Underletting: Provisions for transferring or subletting the lease - for longer leases where transfer rights are important
3. Change of Use: Provisions regarding permitted use changes and restrictions - when specific use controls are needed
4. Green Lease Provisions: Environmental performance and sustainability obligations - for properties where environmental standards are important
5. Security Provisions: Requirements for rent deposits or guarantees - when additional security is required
1. Schedule 1 - Property Plan: Detailed plan showing the demised premises and boundaries
2. Schedule 2 - State of Condition: Schedule recording property condition at lease start including photographs
3. Schedule 3 - Rights Granted: Detailed list of rights granted to tenant including access and services
4. Schedule 4 - Rights Reserved: Detailed list of rights reserved by landlord including access for repairs
5. Schedule 5 - Service Charge Schedule: Detailed breakdown of service charge items and calculation methods
6. Schedule 6 - Rent Review Provisions: Detailed mechanism for rent reviews including timing and procedures
7. Schedule 7 - Permitted Alterations: Schedule of pre-approved alterations and works permitted without consent
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