Utah Checklist of Matters to be Considered in Drafting a Lease of a Commercial Building

• Category: Leases - Commercial
• State: Multi-State
• Control #: US-02414BG
• Format: Word; PDF; Rich Text

Description

Checklist of Matters to be Considered in Drafting a Lease of a Commercial Building Utah Checklist of Matters to be Considered in Drafting a Lease of a Commercial Building: 1. Overview of the Commercial Building Lease: — Clearly define the parties involved in the lease agreement, i.e., landlord and tenant. — Include the effective date and term of the lease. — Specify the purpose of the lease (e.g., retail, office, industrial). 2. Premises Description: — Provide a detailed description of the rented space, including size, floor plan, and specific location within the building. — Address any specific amenities or features included in the lease (e.g., parking spaces, signage rights). 3. Rental Payments: — Clearly outline the amount of rent, payment frequency, and due dates. — Specify any penalties for late payment or bounced checks. — Consider including provisions for rent adjustments, such as annual increases or consumer price index (CPI) adjustments. 4. Security Deposit and Additional Fees: — Determine the amount of the security deposit required. — Indicate the conditions under which the security deposit may be withheld. — If applicable, outline any additional fees or charges, such as parking fees, common area maintenance (CAM) fees, or utility costs. 5. Maintenance and Repairs: — Specify the responsibilities of both the landlord and the tenant regarding maintenance and repairs. — Outline procedures for reporting and addressing maintenance issues. — Consider including provisions for regular inspections and preventive maintenance. 6. Tenant Improvements: — Address any obligations of the landlord to make improvements or modifications to the premises before or during the lease term. — Determine the scope of tenant improvements that the tenant is authorized to undertake. — Clearly outline the responsibilities and financial arrangements for any tenant improvements. 7. Use Restrictions and Prohibited Activities: — Specify the permitted use(s) of the premises. — State any activities that are prohibited within the leased space. — Address whether subleasing or assignment of the lease is permitted. 8. Insurance: — Determine the required insurance coverage for both the landlord and the tenant. — Specify if the tenant is required to carry general liability insurance and/or property insurance on their contents. — Address the obligation to provide proof of insurance and any required indemnification clauses. 9. Default and Termination: — Clearly outline the conditions that would constitute default by either party. — Specify any remedial actions that may be taken before termination. — Address the process for terminating the lease and any associated penalties or fees. 10. Miscellaneous Clauses: — Include any additional clauses that may be relevant, such as force majeure, dispute resolution, or choice of law. — Ensure compliance with relevant federal, state, and local laws governing commercial leasing within Utah. Types of Utah Checklists for Drafting a Commercial Building Lease: — Utah Retail Building LeasChecklistis— - Utah Office Building Lease Checklist — Utah Industrial Building Lease Checklist — Utah Mixed-Use Building Lease Checklist These checklists may have specific additional considerations based on the nature of the commercial building being leased.

Utah Checklist of Matters to be Considered in Drafting a Lease of a Commercial Building: 1. Overview of the Commercial Building Lease: — Clearly define the parties involved in the lease agreement, i.e., landlord and tenant. — Include the effective date and term of the lease. — Specify the purpose of the lease (e.g., retail, office, industrial). 2. Premises Description: — Provide a detailed description of the rented space, including size, floor plan, and specific location within the building. — Address any specific amenities or features included in the lease (e.g., parking spaces, signage rights). 3. Rental Payments: — Clearly outline the amount of rent, payment frequency, and due dates. — Specify any penalties for late payment or bounced checks. — Consider including provisions for rent adjustments, such as annual increases or consumer price index (CPI) adjustments. 4. Security Deposit and Additional Fees: — Determine the amount of the security deposit required. — Indicate the conditions under which the security deposit may be withheld. — If applicable, outline any additional fees or charges, such as parking fees, common area maintenance (CAM) fees, or utility costs. 5. Maintenance and Repairs: — Specify the responsibilities of both the landlord and the tenant regarding maintenance and repairs. — Outline procedures for reporting and addressing maintenance issues. — Consider including provisions for regular inspections and preventive maintenance. 6. Tenant Improvements: — Address any obligations of the landlord to make improvements or modifications to the premises before or during the lease term. — Determine the scope of tenant improvements that the tenant is authorized to undertake. — Clearly outline the responsibilities and financial arrangements for any tenant improvements. 7. Use Restrictions and Prohibited Activities: — Specify the permitted use(s) of the premises. — State any activities that are prohibited within the leased space. — Address whether subleasing or assignment of the lease is permitted. 8. Insurance: — Determine the required insurance coverage for both the landlord and the tenant. — Specify if the tenant is required to carry general liability insurance and/or property insurance on their contents. — Address the obligation to provide proof of insurance and any required indemnification clauses. 9. Default and Termination: — Clearly outline the conditions that would constitute default by either party. — Specify any remedial actions that may be taken before termination. — Address the process for terminating the lease and any associated penalties or fees. 10. Miscellaneous Clauses: — Include any additional clauses that may be relevant, such as force majeure, dispute resolution, or choice of law. — Ensure compliance with relevant federal, state, and local laws governing commercial leasing within Utah. Types of Utah Checklists for Drafting a Commercial Building Lease: — Utah Retail Building LeasChecklistis— - Utah Office Building Lease Checklist — Utah Industrial Building Lease Checklist — Utah Mixed-Use Building Lease Checklist These checklists may have specific additional considerations based on the nature of the commercial building being leased.