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Letters Of Intent And Lease Proposals

Brokerage, Property Management And Leasing Agreements
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LA 737 Aggressively Pro-Tenant Letter Of Intent For Office Lease For Credit Tenant

This letter of intent for an office lease deal is for a credit tenant and, as one might expect, is extremely pro-tenant in tone. It is designed to be presented to the office landlord by the tenant's broker. It goes through virtually every facet of the lease transaction and specifies pro-tenant provisions that are to be incorporated into the lease after the letter of intent is signed.

Among other things, it give the tenant a renewal option at fair market rent, rights of first refusal on adjacent space, options for additional space, right to terminate the lease if the premises are not completed within a certain time period, moving expense reimbursement by the landlord, special cleaning obligations for the landlord at tenant move-in, right to repair and deduct from rent in favor of the tenant, etc. etc.

Number of Single Spaced Pages: 17

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LA 697 Aggressive Letter Of Intent For Sublease Of Office Space (Including Sublease And Landlord Consent Forms)

This aggressive letter of intent for the sublease of office space is drafted in favor of the sublessee in the deal. It outlines the terms of the sublease in a letter of intent, to which a sublease form and a consent for the landlord in the transaction are attached (sublease and consent forms included). These attachments serve as first drafts of the sublease and the required landlord consent.

The letter of intent and the sublease form provide for a moving allowance, an allowance for space planning services for the subleased premises, and a construction allowance--all for the benefit of the sublessee. The sublessee is also entitled to exterior signage on the building.

The letter of intent contemplates the negotiation and final execution of the sublease during an exclusive period. During the exclusive negotiating period, the sublessor may not negotiate with third parties to attempt to sublease the space, and is to negotiate with the sublessee to conclude negotiations and produce a final form of sublease.

Number of Single Spaced Pages: 16

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LA 853 Detailed Letter Of Intent For Lease Of Entire Office Building To Single Tenant With Modest Improvements To Existing Premises By Landlord

This letter of intent is for the lease of an entire office building to a single tenant, and is pro-tenant in tone. It is designed to be presented to the office landlord by the tenant's broker.   It contemplates that the landlord will deliver the premises to the tenant following the completion of modest tenant improvements to the building, which are detailed on an exhibit to the letter of intent.  Apart from such specified improvements, the premises are to be delivered in as-is condition.  Following acceptance by the landlord, it will serve as the basis for drafting the office lease.

Numerous other terms and conditions designed to be incorporated into the lease are included in this letter of intent.  They include a rental during the initial term subject to annual rent bumps, and several renewal options at prevailing fair market rentals.  The precise method of calculation of market rent is covered by a detailed exhibit to the letter of intent.  Additional issues included in the letter of intent are brokerage commissions, parking, antenna and rooftop equipment, signage, landlord default, subsequent improvements, and moving expenses, among others.

Number of Single Spaced Pages:  16

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