| 99 Year Ground Lease ($25.00) |
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Use this template to prepare a 99-Year Ground Lease for land that will be developed as the site of a commercial office and retail project. The lease is between the owner of the land as Lessor and a land development partnership as Lessee. Provisions of the lease include:
- The minimum yearly rental is the greater of a fixed amount or a percentage of the annual net rentals generated by the property.
- In addition to minimum annual rent, the Lessee will pay the costs of clearing the land and obtaining surrenders of leases from the existing tenants.
- Lessee has right of first refusal if Lessor decides to sell or dispose of its interest in the land.
- Lessee is responsible for carrying sufficient and proper insurance, for paying all taxes, charges, liens and utility costs.
- Lessee has the right to assign the lease or to mortgage or otherwise encumber the property without the consent of Lessor.
This is a generic real estate document in MS Word format, and is not specific to any country or region.
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