A Salt Lake Utah Agreement to Lease Commercial Property with Building on the Property to be Built by Lessor Demolition of Present Building is a legal contract between a landlord (lessor) and a tenant for the lease of commercial property in Salt Lake, Utah. This type of agreement is specifically designed to facilitate the construction of a new building on the property by the landlord, which requires the demolition of the existing structure. Keywords: Salt Lake Utah, Agreement to Lease, Commercial Property, Building, Property to be Built, Lessor, Demolition, Present Building. In this agreement, the landlord has the intention to construct a new building on the leased property, and therefore, will need to demolish the current building before the construction can take place. This situation may arise when the existing building is outdated, requires extensive renovations, or does not meet the needs of potential tenants. The Salt Lake Utah Agreement to Lease Commercial Property with Building on the Property to be Built by Lessor Demolition of Present Building typically contains the following key elements: 1. Parties involved: It identifies the lessor (landlord) and the tenant, including their legal names and addresses. 2. Property details: The agreement describes the specific commercial property in Salt Lake, Utah, including its address, size, and any other relevant specifications. 3. Building construction plan: It outlines the proposed plans for the construction of a new building on the property. This may include architectural drawings, building permits, and construction timelines. 4. Demolition of present building: The agreement discusses the process and responsibilities related to the demolition of the existing structure, including any necessary permits and costs. 5. Lease terms: It specifies the agreed-upon lease duration, rent amount, payment schedule, and any applicable lease incentives or penalties. 6. Termination clause: This clause outlines the conditions under which either party can terminate the lease agreement, such as default on payment or breach of contractual obligations. 7. Insurance and liability: It details the insurance requirements for the property, including general liability coverage and any additional coverage related to the construction and demolition activities. 8. Permits and licenses: The agreement may stipulate that the lessor is responsible for obtaining all necessary permits, licenses, and approvals for the construction and demolition processes. 9. Indemnification: It addresses the allocation of responsibility for any damages, liabilities, or legal claims arising from the construction, demolition, or leasing activities. 10. Legal provisions: The agreement includes clauses related to dispute resolution, governing law, and any other legal considerations specific to the Salt Lake City, Utah jurisdiction. Types of Salt Lake Utah Agreement to Lease Commercial Property with Building on the Property to be Built by Lessor Demolition of Present Building: — Standard commercial lease agreement with building construction provisions — Triple Net (NNN) lease agreement with building construction provisions — Build-to-suit lease agreement with demolition of present building.
Salt Lake Utah Agreement to Lease Commercial Property with Building on the Property to be Built by Lessor Demolition of Present Building
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