Form 14-1: Developer Letter of Intent to Major Oil Company for Ground Lease of Corner Service Station Pad to Be Developed Concurrent with Shopping Center
Includes (i) Allocation of On- and Off-Site Costs and Development Fees and (ii) REA Restrictions (Contains illustrative site plan showing the service station parcel and building envelope)
(9 pages)
$30
Form addresses:
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Site.
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Use.
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Continuous operations and recapture right.
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Initial and option terms.
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Fixed term rent.
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Option period rent.
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Initial "feasibility" option payment.
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Tenant's lease execution and deposit.
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"Preliminary Term" rent.
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Commencement of Fixed Term.
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Extensive alternative structures providing for allocation of improvement costs, including governmental fee caps and limited termination right to terminate if fees are subject to material increase.
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Utilities.
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Property taxes and common area maintenance.
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Use controls and rights of first refusal.
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Underground tank specifications; environmental monitoring and insurance.
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Contingencies.
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Liquor sales (optional).
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Time limit.
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Exhibit of "site" showing defined "building envelope", consistent with cost sharing arrangement.