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Lease With Option To Buy Commercial Property
"I need a Lease with Option to Buy Commercial Property agreement for a retail space in Amsterdam, with a 5-year initial lease starting March 2025, and an option to purchase after 3 years at a pre-agreed price of €2.5M, including specific provisions for store renovations and signage rights."
1. Parties: Identification of the landlord/potential seller and tenant/potential buyer, including full legal names, registered addresses, and chamber of commerce numbers
2. Background: Context of the agreement, property description, and parties' intentions regarding lease and potential future purchase
3. Definitions: Definitions of key terms used throughout the agreement, including Property, Commencement Date, Option Period, and Purchase Price
4. Lease Terms: Core lease provisions including duration, rent amount, payment terms, and renewal options
5. Property Use: Permitted commercial use, restrictions, and compliance with zoning laws
6. Maintenance and Repairs: Responsibilities for maintenance, repairs, and improvements, distinguishing between landlord and tenant obligations
7. Insurance and Liability: Required insurance coverage and allocation of risks between parties
8. Option to Purchase: Terms of the purchase option, including option period, exercise process, and purchase price calculation
9. Exercise of Option: Procedure for exercising the option, including notice requirements and timeline
10. Purchase Process: Steps to be followed once option is exercised, including notarial requirements and transfer process
11. Representations and Warranties: Statements of fact and promises by both parties regarding the property and their authority
12. Termination: Circumstances under which the agreement can be terminated and consequences
13. Governing Law and Jurisdiction: Specification of Dutch law as governing law and competent courts
14. Signatures: Execution blocks for all parties
1. VAT Election: Optional section for electing VAT taxation on the lease, required only if parties choose to opt for VAT taxation
2. Environmental Provisions: Detailed environmental terms and responsibilities, necessary for properties with specific environmental concerns or history
3. Alterations and Improvements: Detailed provisions regarding property modifications, necessary for properties requiring significant tenant improvements
4. Subletting and Assignment: Terms governing subletting and assignment rights, if permitted
5. Break Clauses: Optional early termination provisions, included if parties agree to specific break rights
6. Property Management: Terms regarding property management services if provided by landlord
7. Rent Review: Mechanism for rent reviews if different from standard indexation
1. Property Description: Detailed description of the property including floor plans, cadastral details, and included fixtures
2. Initial Condition Report: Documentation of property condition at lease commencement
3. Rent Payment Schedule: Detailed breakdown of rent payments, including indexation calculations
4. Purchase Price Calculation: Formula or method for determining the purchase price when option is exercised
5. Permitted Alterations: List of pre-approved alterations tenant may make to the property
6. Service Charges: Breakdown of service charges and calculation method
7. Insurance Requirements: Detailed insurance requirements for both parties
8. ROZ General Conditions: Standard ROZ (Real Estate Council of the Netherlands) terms applicable to the lease
Authors
Real Estate
Retail
Hospitality
Manufacturing
Logistics
Healthcare
Professional Services
Technology
Education
Financial Services
Warehousing
Industrial
Office Space Management
Legal
Real Estate
Finance
Operations
Facilities Management
Risk & Compliance
Business Development
Property Management
Corporate Development
Investment
Real Estate Manager
Commercial Property Director
Business Development Manager
Legal Counsel
Chief Financial Officer
Facilities Manager
Property Investment Manager
Operations Director
Commercial Director
Expansion Manager
Property Portfolio Manager
Risk Manager
Compliance Officer
Corporate Real Estate Manager
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