Golf Course Lease Agreements
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LA 1511 Pro-Tenant Golf Course Ground Lease
This ground lease is designed for a golf course and is pro-tenant in tone. The rent is adjusted periodically by the consumer price index during the initial term of the lease, and the tenant has renewal options with the rent set at 10% of the fair market value of the property.
Number of Single Spaced Pages: 19
LA 1625 Lease Of Luxury Golf Course Following Sale Of Land And Improvements To Investor In Sale Leaseback Transaction
This luxury golf course lease is designed to lease an operating golf course back to its original owner following a sale of the land and improvements constituting the course to an investor in a sale leaseback transaction. The sale leaseback is essentially a finance transaction.
This lease is a long term one, where the operating tenant pays rent, as well as all real estate taxes and utility charges during the term. The use permitted under the lease is, of course, the operation of the golf course, which must conform to a high level of quality as specified in the lease.
In addition, the lessee must prepare an annual plan to submit to the lessor for the lessor's approval, together with quarterly operating reports detailing income and expenses, the number of golf rounds played, including paid rounds by each guest or other category, expenditures made for capital improvements approved by lessor, the amount expended by lessee for the replacement of the golf course irrigation system and such other information as lessor may reasonably request.
Number of Single Spaced Pages: 30