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5 Year Lease Agreement
"I need a 5 Year Lease Agreement for a commercial retail space in Manila's Makati district, starting March 1, 2025, with provisions for signage rights and the option to sublease a portion of the space to a complementary business."
1. Parties: Identification and details of the Lessor and Lessee, including their complete legal names, addresses, and tax identification numbers
2. Background: Context of the lease agreement, brief description of the property, and the parties' intention to enter into a lease arrangement
3. Definitions: Definitions of key terms used throughout the agreement to ensure clarity and prevent misinterpretation
4. Property Details: Comprehensive description of the leased property, including exact location, boundaries, and total area
5. Term and Commencement: Specification of the 5-year lease period, start date, and conditions for commencement
6. Rent and Payment Terms: Details of rental amount, payment schedule, method of payment, and late payment penalties
7. Security Deposit: Amount of security deposit, terms of holding, and conditions for return
8. Utilities and Operating Expenses: Allocation of responsibility for utilities, maintenance, and other operating expenses
9. Use of Property: Permitted use of the property and any restrictions on its use
10. Maintenance and Repairs: Responsibilities of each party regarding maintenance, repairs, and improvements
11. Insurance and Liability: Insurance requirements and allocation of risks between parties
12. Default and Remedies: Events of default and corresponding remedies available to either party
13. Termination: Grounds for termination and the process for ending the lease
14. Governing Law: Specification of Philippine law as governing law and jurisdiction
15. Execution: Signature blocks and notarization requirements
1. Subletting and Assignment: Include when subletting or assignment might be permitted under certain conditions
2. Fit-out and Alterations: Include for commercial leases where tenant improvements are anticipated
3. Option to Renew: Include when parties want to provide for possible lease extension
4. Common Areas: Include for properties in multi-tenant buildings or complexes
5. Force Majeure: Include specific provisions for unforeseen events affecting lease obligations
6. Environmental Compliance: Include for properties where environmental concerns are relevant
7. Building Rules and Regulations: Include for commercial buildings or residential complexes with specific rules
8. Signage Rights: Include for commercial leases where tenant signage is relevant
9. Parking: Include when specific parking rights are part of the lease
1. Schedule 1 - Property Plan: Detailed floor plan or property layout with measurements and boundaries
2. Schedule 2 - Inventory List: List of furniture, fixtures, and equipment included in the lease
3. Schedule 3 - Rent Schedule: Detailed breakdown of rent payments, including any scheduled increases
4. Schedule 4 - Building Rules: Comprehensive list of building rules and regulations
5. Schedule 5 - Maintenance Schedule: Schedule of regular maintenance responsibilities
6. Schedule 6 - Fit-out Guidelines: Technical specifications and guidelines for property modifications
7. Schedule 7 - Utility Meters: Initial meter readings and meter numbers for utilities
8. Schedule 8 - Handover Form: Property condition report at the start of lease
9. Appendix A - Required Permits: List of necessary permits and licenses for property use
Authors
Building
Business Day
Commencement Date
Common Areas
Competent Authority
Default Interest Rate
Events of Default
Expiry Date
Force Majeure
Initial Term
Lease
Leased Premises
Lessee
Lessor
Operating Expenses
Permitted Use
Property
Rent
Rental Period
Security Deposit
Service Charge
Term
Utilities
VAT
Working Hours
Building Rules
Fit-out Works
Insurance Requirements
Maintenance Charges
Notice
Parties
Renewal Term
Structural Elements
Taxes
Tenant Improvements
Term and Renewal
Rent and Payment
Security Deposit
Use of Premises
Utilities and Services
Maintenance and Repairs
Alterations and Improvements
Insurance
Assignment and Subletting
Default and Remedies
Termination
Force Majeure
Indemnification
Property Access
Quiet Enjoyment
Compliance with Laws
Environmental Protection
Health and Safety
Signage
Parking Rights
Common Areas
Building Rules
Notices
Governing Law
Dispute Resolution
Severability
Entire Agreement
Registration and Notarization
Representations and Warranties
Real Estate
Commercial Property
Residential Property
Retail
Office Space
Industrial
Hospitality
Education
Healthcare
Warehouse and Storage
Manufacturing
Legal
Real Estate
Facilities Management
Finance
Operations
Procurement
Risk and Compliance
Administration
Business Development
Asset Management
Real Estate Manager
Property Manager
Facilities Manager
Legal Counsel
Corporate Lawyer
Business Development Manager
Operations Director
Chief Financial Officer
Procurement Manager
Asset Manager
Lease Administrator
Real Estate Director
Compliance Officer
Risk Manager
Branch Manager
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