Appendix B-1: Long-Form Letter of Intent to Enter into Site Ground Lease
$30.00Price
Appendix B-1: Long-Form Letter of Intent to Enter into Site Ground Lease
(Similar to Form 4-1, long-form fee purchase of shopping center site, but provides for ground leasing of shopping center site for development)
(18 pages)
Form addresses:
Major deal points in this comprehensive ground lease proposal includes:
- Parties.
- Consideration (attached exhibit of outlining ground lease rental terms).
- Site.
- Adjacent property escrow (optional).
- Title search and document delivery to tenant.
- Contingencies (title, feasibility, major tenant commitments, entitlements, soils tests, hazardous materials investigation and twelve additional optional contingencies).
- Contingency approval periods.
- Entitlements.
- Tenant's reasonable due diligence.
- Escrow; escrow fees and closing costs.
- Escrow extensions.
- Tenant's termination right.
- Landlord's termination right.
- Hazardous materials (alternative clauses allocating costs between landlord and tenant).
- Entry.
- Marketing signs.
- Assignment.
- Condemnation prior to closing.
- Title.
- Brokerage commissions.
- Tenant's default: liquidated damages (landlord's exclusive remedy is to retain amounts theretofore paid to escrow holder or released to landlord).
- Non-binding.
- Time limit of proposal.
- Confidentiality and good faith.