LETTER OF INTENT TO LEASE
SUBJECT: Letter of Intent to Lease
_________________________ ("Tenant") proposes to lease from
___________________________("Landlord") the property and improvements described herein.
This Letter of Intent ("Letter of Intent") sets forth the general terms of our proposal. The
provisions hereof shall serve as the basis for a definitive Lease Agreement to be negotiated and
entered into between Tenant and Landlord (the "Lease"). The rights and obligations of the Tenant
and Landlord hereunder shall be subject to the execution and delivery of a mutually satisfactory
Lease as soon as practical.
The following terms are proposed:
1. Premises: It is the Tenant's understanding that the real property and improvements to be
leased is as follows: approximately ____________square feet of space located at
____________________________________ (the "Leased Premises"). The Leased Premises will
be available for Tenant by ___________________________, 20__. The Leased Premises shall
include all improvements, fixtures, easements, appurtenances, leases, privileges and personal
property owned by Landlord and utilized in connection with the operation of the Leased
2. Term: _______ (_) year(s) beginning ____________________, 20___. Tenant may have
occupancy of and access to the Leased Premises prior to the above commencement date upon the
signing of a Lease so long as Tenant’s occupancy shall not interfere with Landlord’s
3. Option: Tenant shall have the right to exercise one (1), _____ (__) year option to extend
the Lease by giving _____________ days written notice to Landlord prior to the exercise thereof.
The rental rate during the option period shall be based on the rates set forth in Section 4 below.
4. Base Rate: Annual base rent shall be as follows:
Years 1 - ___: ________ psf. or $____________ with $ ___________ paid monthly
Years __ - __: ________ psf. or $____________ with $____________ paid monthly
5. Common Area Maintenance Charges: In addition to rent, Tenant shall pay common area
maintenance charges in the amount of $__________ psf during the initial term and $_______
during option term of the Lease.
6. Utilities: Tenant shall pay for the following utilities used in the Leased Premises by
7. Repairs and Maintenance: Landlord shall maintain the exterior of the Leased Premises,
including the roof, parking lot, walls, foundation and structure thereof, and shall ensure that the
HVAC, plumbing, electrical systems serving the Leased Premises are in good working order at
the time of occupancy by Tenant, and thereafter during the term of the Lease. Also, the Landlord
shall maintain the exterior plumbing, sewage, utility and electrical lines outside the building
containing the Leased Premises. Landlord shall be responsible for snow removal and any
8. Real Estate Taxes and Insurance: ______________ will pay real estate taxes assessed
against the Leased Premises during the term of the Lease.
9. Landlord Improvements: Landlord shall make the following improvements prior to
10. Use of Leased Premises: Tenant may use and occupy the Premises for