Fulton Georgia Percentage Shopping Center Lease Agreement

• Category: Landlord Tenant - Commercial Leases - Shopping Centers
• State: Multi-State
• County: Fulton
• Control #: US-01626
• Format: Word; Rich Text

Description

This form is for the lease of property to be used as a shopping center. The landlord warrants that the demised premises may be used, but not limited to such use, by tenant, among others, for the conduct of a mercantile business of the type and kind known as a variety store, discount store, dollar store or variety discount store. Fulton, Georgia Percentage Shopping Center Lease Agreement: A Detailed Description The Fulton, Georgia Percentage Shopping Center Lease Agreement is a legally binding contract designed to govern the relationship between a shopping center owner or landlord and a tenant leasing space within the shopping center. This agreement outlines the terms and conditions under which the tenant can operate their business within the shopping center premises. In Fulton, Georgia, there are three main types of Percentage Shopping Center Lease Agreements that can be considered: 1. Gross Percentage Lease: This lease agreement type involves the tenant paying a base rent along with a percentage of their sales revenue. The base rent usually covers the operating expenses of the shopping center, such as utilities, maintenance, and property taxes. The tenant's percentage contribution is usually calculated based on their gross sales, either monthly or annually. 2. Net Percentage Lease: Unlike the Gross Percentage Lease, the Net Percentage Lease requires the tenant to pay a base rent along with a percentage of their sales, but in addition to that, they also contribute towards the operating expenses of the shopping center. These operating expenses typically include common area maintenance (CAM) charges, insurance, and property taxes. The tenant's percentage contribution is calculated based on their net sales, which deducts certain expenses from the gross sales. 3. Modified Gross Percentage Lease: The Modified Gross Percentage Lease is a combination of both the Gross and Net Percentage Leases. In this agreement, the tenant pays a fixed base rent along with a percentage of their sales revenue. However, the tenant also contributes towards specific operating expenses agreed upon in the lease, such as CAM charges or property taxes. Regardless of the specific type of Fulton, Georgia Percentage Shopping Center Lease Agreement, there are common elements typically present in these contracts. These include: a. Lease Term: The duration for which the tenant has the right to use the shopping center premises. b. Rent Amount: The base rent and any additional percentage or percentage-sharing clauses outlined in the agreement. c. Percentage Calculation: The method for determining the percentage to be paid by the tenant, either based on gross or net sales. d. Operating Expenses: The list of expenses the tenant is responsible for, such as utilities, maintenance, insurance, property taxes, or CAM charges. e. Maintenance Responsibilities: The obligations of both the landlord and tenant concerning the maintenance and repair of the shopping center premises. f. Use Clause: The permitted use of the leased space by the tenant, outlining any restrictions or limitations. g. Assignment and Subletting: The conditions under which the tenant can assign or sublet the leased space to another party. h. Default and Termination: The events that could lead to the termination of the lease agreement, such as non-payment of rent or violation of terms. It is crucial for both the shopping center owner and the tenant to thoroughly review and understand the specific terms of the Fulton, Georgia Percentage Shopping Center Lease Agreement before signing it. Seeking legal advice is always recommended ensuring compliance with local laws and to protect the rights of both parties involved.

Fulton, Georgia Percentage Shopping Center Lease Agreement: A Detailed Description The Fulton, Georgia Percentage Shopping Center Lease Agreement is a legally binding contract designed to govern the relationship between a shopping center owner or landlord and a tenant leasing space within the shopping center. This agreement outlines the terms and conditions under which the tenant can operate their business within the shopping center premises. In Fulton, Georgia, there are three main types of Percentage Shopping Center Lease Agreements that can be considered: 1. Gross Percentage Lease: This lease agreement type involves the tenant paying a base rent along with a percentage of their sales revenue. The base rent usually covers the operating expenses of the shopping center, such as utilities, maintenance, and property taxes. The tenant's percentage contribution is usually calculated based on their gross sales, either monthly or annually. 2. Net Percentage Lease: Unlike the Gross Percentage Lease, the Net Percentage Lease requires the tenant to pay a base rent along with a percentage of their sales, but in addition to that, they also contribute towards the operating expenses of the shopping center. These operating expenses typically include common area maintenance (CAM) charges, insurance, and property taxes. The tenant's percentage contribution is calculated based on their net sales, which deducts certain expenses from the gross sales. 3. Modified Gross Percentage Lease: The Modified Gross Percentage Lease is a combination of both the Gross and Net Percentage Leases. In this agreement, the tenant pays a fixed base rent along with a percentage of their sales revenue. However, the tenant also contributes towards specific operating expenses agreed upon in the lease, such as CAM charges or property taxes. Regardless of the specific type of Fulton, Georgia Percentage Shopping Center Lease Agreement, there are common elements typically present in these contracts. These include: a. Lease Term: The duration for which the tenant has the right to use the shopping center premises. b. Rent Amount: The base rent and any additional percentage or percentage-sharing clauses outlined in the agreement. c. Percentage Calculation: The method for determining the percentage to be paid by the tenant, either based on gross or net sales. d. Operating Expenses: The list of expenses the tenant is responsible for, such as utilities, maintenance, insurance, property taxes, or CAM charges. e. Maintenance Responsibilities: The obligations of both the landlord and tenant concerning the maintenance and repair of the shopping center premises. f. Use Clause: The permitted use of the leased space by the tenant, outlining any restrictions or limitations. g. Assignment and Subletting: The conditions under which the tenant can assign or sublet the leased space to another party. h. Default and Termination: The events that could lead to the termination of the lease agreement, such as non-payment of rent or violation of terms. It is crucial for both the shopping center owner and the tenant to thoroughly review and understand the specific terms of the Fulton, Georgia Percentage Shopping Center Lease Agreement before signing it. Seeking legal advice is always recommended ensuring compliance with local laws and to protect the rights of both parties involved.