GROUND LEASE AGREEMENT (WITH OPTION TO PURCHASE) This GROUND LEASE AGREEMENT, (“Agreement”), is made at _________ ____________, by and between ______________ (“Lessor”), with Lessor’s principal address being _____________________________ and _________________ (“Lessee”), with Lessee’s principal address being __________________________. RECITALS
1. Lessor is the fee simple owner of the undeveloped/unimproved real property together with any conditions, easements/rights-of-way of record and benefiting the same, (collectively the “Premises”), located at _________________________, ________________, as further described within Exhibit “A”, which is attached hereto and is made part hereof. 2. 3. Lessee wants to lease the Premises from Lessor. Lessor wants to lease the Premises to Lessee.
NOW, THEREFORE, in consideration of the terms and conditions contained herein, and for other good and valuable consideration the receipt and sufficiency of which both Lessor and Lessee irrevocable acknowledge, Lessor and Lessee agree as follows: 1. LEASE OF PREMISES: Lessee shall use and/or occupy the Premises for the purposes of constructing, owning and maintaining commercial, office and/or retail investment structures. Lessee shall not use the Premises or any part(s) thereof for any purpose(s) inconsistent herewith unless Lessee obtains Lessor’s prior written approval. Lessor shall not unreasonably withhold such approval. 2. PURPOSE/USE OF PREMISES: Lessee shall use and/or occupy the Premises for the purposes of constructing, owning and maintaining commercial, office and/or retail investment structures