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Lease Agreement With Option To Purchase (Real Estate)
"I need a Lease Agreement with Option to Purchase (Real Estate) for a commercial property in Manila's business district, with a 2-year lease term starting March 1, 2025, monthly rent of 150,000 PHP, and an option to purchase at 25,000,000 PHP exercisable after the first year."
1. Parties: Identification of the Lessor/Seller and Lessee/Potential Buyer with complete details as required under Philippine law
2. Background: Context of the agreement, including brief description of the property and parties' intentions regarding lease and potential purchase
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the leased property, including exact location, boundaries, and improvements
5. Lease Terms: Duration of lease, rental amount, payment terms, and frequency
6. Security Deposit: Amount, terms, and conditions for the security deposit
7. Utilities and Maintenance: Responsibilities for utilities, repairs, and maintenance of the property
8. Use of Property: Permitted and prohibited uses of the property
9. Option to Purchase: Terms and conditions of the purchase option, including purchase price and option period
10. Exercise of Option: Process and requirements for exercising the purchase option
11. Payment Terms for Purchase: Purchase price, payment structure, and terms if option is exercised
12. Title and Documentation: Requirements for transfer of title and necessary documentation
13. Representations and Warranties: Declarations by both parties regarding their authority, the property's condition, and legal status
14. Default and Remedies: Events of default under both lease and purchase provisions, and corresponding remedies
15. Termination: Conditions and process for termination of the agreement
16. Governing Law: Specification of Philippine law as governing law and relevant jurisdictional provisions
17. General Provisions: Standard contractual provisions including notices, amendments, and severability
1. Property Management: Required when the property is part of a managed complex or subdivision, detailing compliance with property management rules
2. Agricultural Provisions: Required when the property includes agricultural land, incorporating requirements under the Agricultural Land Reform Code
3. Mortgage Provisions: Required when the property is mortgaged, addressing existing encumbrances and requirements for discharge
4. Broker Provisions: Required when real estate brokers are involved, detailing their roles and commissions
5. Construction and Improvements: Required when the lessee is permitted to make improvements or modifications to the property
6. Environmental Compliance: Required for properties in environmentally sensitive areas or with specific environmental requirements
7. Special Tax Provisions: Required when there are unique tax considerations or arrangements between the parties
8. Sublease Provisions: Required if subletting is permitted, detailing conditions and requirements
1. Property Details Schedule: Detailed technical description of the property, including lot number, boundaries, and technical specifications
2. Rental Payment Schedule: Detailed breakdown of rental payments, including escalation rates if applicable
3. Purchase Price Computation: Breakdown of the purchase price, including any adjustments based on rental payments made
4. Property Condition Report: Detailed assessment of the property's condition at the start of the lease
5. Permitted Improvements Schedule: List of improvements that the lessee is authorized to make to the property
6. Required Insurance Schedule: Details of insurance requirements for both lease and purchase phases
7. Property Title Documents: Copies of relevant property title documents and certificates
8. Tax Certificates: Copies of relevant tax declarations and certificates
Authors
Property
Lease Term
Commencement Date
Expiration Date
Base Rent
Security Deposit
Option Period
Option Fee
Purchase Price
Exercise Notice
Closing Date
Improvements
Common Areas
Force Majeure
Business Day
Utilities
Maintenance Charges
Property Tax
Insurance Requirements
Permitted Use
Default
Remedies
Transfer Taxes
Title Documents
Encumbrances
Option Exercise Date
Rental Payment Date
Interest Rate
Notice
Parties
Lessor/Seller
Lessee/Buyer
Broker
Deposit
Due Diligence Period
Environmental Laws
Fixtures
Governing Law
Lease Year
Operating Expenses
Purchase Option
Registration Fees
Substantial Damage
Title Insurance
Zoning Laws
Beneficial Owner
Certificate of Title
Documentary Requirements
Legal Fees
Lease Term
Rental Payment
Security Deposit
Option to Purchase
Purchase Price
Payment Terms
Property Use
Maintenance and Repairs
Utilities
Insurance
Property Access
Assignment and Subletting
Alterations and Improvements
Default and Remedies
Termination
Force Majeure
Indemnification
Property Inspection
Title and Ownership
Registration and Documentation
Tax Obligations
Environmental Compliance
Warranties and Representations
Notice Requirements
Dispute Resolution
Governing Law
Amendment
Severability
Entire Agreement
Property Management
Broker Provisions
Due Diligence
Title Transfer
Closing Requirements
Option Exercise
Property Handover
Compliance with Laws
Risk of Loss
Real Estate
Property Development
Commercial Property
Residential Property
Agriculture (for agricultural land)
Retail
Industrial
Hospitality
Office Space
Manufacturing
Logistics
Healthcare
Education
Legal
Real Estate
Facilities Management
Finance
Operations
Compliance
Risk Management
Property Management
Asset Management
Business Development
Investment
Corporate Affairs
Real Estate Manager
Property Manager
Legal Counsel
Corporate Lawyer
Real Estate Broker
Facilities Manager
Asset Manager
Chief Financial Officer
Business Development Manager
Operations Director
Compliance Officer
Risk Manager
Contract Administrator
Real Estate Development Director
Investment Manager
Property Acquisition Manager
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