FORM OF MEMORANDUM OF LEASE EXHIBIT
EXHIBIT [INSERT APPLICABLE LETTER]
MEMORANDUM OF LEASE
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
REAL ESTATE LENDER
Attn: Loan Servicing
1234 Main Street
Anytown, CA 93344
MEMORANDUM OF LEASE
This Memorandum Of Lease (this "Memorandum") is made and entered into as of ____________________ by and between Successful Landlord, LLC a _____________ limited liability company ("Landlord") and Promising Tenant, Inc., a _____________ corporation ("Tenant"), with reference to the following facts:
Landlord and Tenant are the landlord and tenant, respectively, under that certain Lease dated as of ______________ (the "Lease"), relating to certain real property located in the City of ___________________, County of ___________, State of _____________, more particularly described in Exhibit "A" attached hereto (the "Property").
Pursuant to Article __ of the Lease, Landlord has granted to Tenant the option to purchase (the "Purchase Option"), and pursuant to Article __ of the Lease, Landlord has granted to Tenant a right of first refusal to purchase (the "Right of First Refusal"), the Property and the improvements and certain other property located thereon.
Landlord and Tenant desire to have this Memorandum recorded in the Official Records of _______________________ County, _____________, in order to put interested parties on notice of the Purchase Option and the Right of First Refusal.
Now, Therefore, the parties hereto hereby agree as follows:
Lease of the Property. Landlord hereby leases the Premises to Tenant, and Tenant hereby leases the Premises from Landlord for a term of Fifteen Years and Five Months commencing on _____________________ (subject to extension as set forth in the Lease), and terminating Fifteen Years and Five Months thereafter, all subject to and on terms and conditions more fully set forth in the Lease. The Lease is incorporated herein by this reference.
Purchase Option. Landlord has granted, and hereby grants, to Tenant the Purchase Option described in Recital B above during the time, for the price, and on the terms and conditions contained in the Lease, the terms and conditions of which are incorporated herein by this reference in their entirety. The Purchase Option must be exercised on or before the certain alternative dates specified in the Lease, but in no event later than _________________.
Right of First Refusal. Landlord has granted, and hereby grants, to Tenant the Right of First Refusal described in Recital B above during the time, for the price, and on the terms and conditions contained in the Lease, the terms and conditions of which are incorporated herein by this reference in their entirety. The Right of First Refusal must be exercised on or before the date specified in the Lease.
Information. Any party who is interested in acquiring an interest in the Property should contact the Landlord and the Tenant.
In Witness Whereof, the parties hereto have executed this Memorandum on the day and year first above written.
Successful Landlord, LLC a _____________ limited liability company
Promising Tenant, Inc., a _____________ corporation
[ALL SIGNATURES MUST BE NOTARIZED]