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Letter of Intent   
A Letter of Intent or LOI covers the primary business or economic points
in addition to the primary legal provisions that the tenant and Landlord or 
their authorized Representative and/or Broker normally address together.
 
The Letter of Intent provisions normally include the following in this order:
 
(Please consult Lease Term section of this website for definitions)
 
bullet
The Landlord and tenant's name, address, phone and fax numbers
bullet
Address of the proposed location
bullet
Description of premise to be leased 
bullet
Site plan identifying the space.
bullet
Term of the lease and the date it will end.
bullet
Base rent amount per year
bullet
Rent commencement date
bullet
Option language and amounts to be paid if exercised
bullet
Percentage rent language and breakpoints
bullet
Prorata charge language and amounts: Ex: CAM, taxes, insurance.
bullet
Improvements language: Contacts in relationship to the initial construction.
bullet
Maintenance and repairs: 
Contacts  in relationship to ongoing maintaining of the property.
bullet
Exclusive Language
bullet
Anchor language for a co-tenancy provision
bullet
Co-tenancy provision as a percentage of the whole shopping center
bullet
Signage provision
bullet
Tentative timeframe for turnover: Scheduling provision
bullet
Conclusion provision with place for Landlord and tenant signature
acceptance line

 

 

   
 

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