A master lease agreement is a contractual arrangement between two parties, typically a property owner (lessor) and a tenant (lessee). A master lease agreement pertains to the leasing and subleasing of property, while a master service agreement pertains to the provision of services.A master service agreement (MSA) is a fundamental contract outlining the scope of the relationship between two parties. Is the lessor of record. The City currently leases the property at 1005 Escobar Street from the Contra Costa Community. Master leases are an absolute bond net lease where the landlord collects monthly rent and the tenant is responsible for paying all OpEx and CapEx. "Local Area" means Contra Costa County. "Master Agreement" or "Schedule A" means the Master Collective Bargaining. During this first contract period, the Advisory Council was set up and the Area. Stated in the Lease Agreement.