Form 5-1: Selected Amendments to Standard Long-Form Purchase Offer
$25.00Price
Form 5-1: Selected Amendments to Standard Long-Form Purchase Offer to Create a Letter of Intent to Enter into Site Ground Lease; Extensive Exhibit: “Summary of Ground Lease Terms”
Use with Form 4-1; Replaces key paragraphs in Form 4-1 to make it a Site Ground Lease Proposal
(8 pages)
Form addresses:
- Key Paragraphs to be revised.
- Title.
- Summary of Ground Lease Terms (defines Construction Term, Completion Term and Remainder Term) and rent payable during such periods.
- Possible upward or downward adjustment of minimum annual rent.
- "Bonus Rent": ground lessor's participation in gross rent stream above a floor (preferred) OR ground lessor's participation in net cash flow (much less frequently used).
- Purchase option rights (alternatives).
- Right of First Refusal.
- Real estate taxes and insurance.
- Leasehold mortgage.
- Assignment rights.
- Non-recourse provision.