Fill and Sign the Agreement Lease Future Form

Agreement to Lease to Tenant in Future Shopping Center Agreement made on the _______________ (date) , between ______________________ (Name of Future Lessor) , a corporation organized and existing under the laws of the state of _________________, with its principal office located at ________________________________ _____________________________________________ (street address, city, county, state, zip code) , referred to herein as Future Lessor , and ______________________ (Name of Future Lessee) , a corporation organized and existing under the laws of the state of ______________, with its principal office located at ___________________________________ __________________________________________ (street address, city, county, state, zip code) , referred to herein as Future Lessee . Whereas, Future Lessor is a corporation established to acquire, develop, and manage commercial property for a shopping center site; and Whereas, Future Lessee is a corporate business desiring to establish a location in a suburban shopping center; and Whereas, the parties desire to enter into an Agreement defining the terms of a future lease of a site in the proposed shopping center, conditioned on the acquisition and development of the property; Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Acquisition of Site A. Future Lessor shall acquire the property on which the shopping center will be constructed. The property, hereinafter called the Property, is presently for sale and is described as follows: (legal description) _____________________________________ ______________________________________________________________________ ______________________________________________________________________ . B. The total area of the Property to be acquired is approximately _____ (number) acres. Future Lessee will be furnished copies of all documents executed by Future Lessor relating to the acquisition of the Property. 2. Plans, Permits, and Easements A. Future Lessor shall have a complete set of architectural drawings prepared for the entire shopping center complex except that portion to be occupied by Future Lessee. Future Lessee shall be responsible for preparation of its own plans. All plans will be submitted by each party to the other for written approval prior to implementation. B. Future Lessor shall obtain all necessary permits, licenses, easements, and zoning approvals, including but not limited to those required for Future Lessee's building, from municipal governmental agencies for the design and construction of the shopping center, and will obtain assurances of road extensions to provide adequate traffic access to the shopping center site. Future Lessor shall provide all required easements to the utility companies to facilitate utility services. 3. Additional Tenants The parties shall agree on the proper composition of additional tenants to occupy the remaining portions of the shopping center site. Such Agreement shall be reached prior to commencement of construction, reduced to writing, and appended to this document and any resulting lease agreement as Exhibit A. 4. Preparation of Lease The Lease Agreement shall be prepared by ___________________ (Name of Attorney for Lessor) subject to approval by _____________________ (Name of Attorney for Lessee) , and the Lease shall contain the terms agreed to by the parties to this Agreement as specified in Section 5 through Section 15 of this Agreement. 5. Site Reserved for Major Lessee Future Lessee shall be entitled to lease that portion of the Property described in Section 1 of this Agreement that is illustrated and defined in Exhibit B attached to this Agreement. A building of ___________ (number) square feet total floor space for each floor, consisting of _______ (number) floors, including the basement floor, shall be erected on that site, in conformance with Future Lessee's plans, and the building shall neither be attached to the leased property of other tenants nor situated within __________ (number) feet of the nearest structure. 6. Option to Expand Future Lessee shall have the option to expand its business site provided it produces proof of earning a gross income of $__________-per year for any one year prior to __________________ (date) , the final date for Future Lessee to exercise this option. Future Lessee must provide written notice of its intention to exercise this option. The monthly rental rate shall be subject to renegotiation on an exercise of the option to expand. 7. Purpose of Lease Future Lessee will operate a _______________________ (type of business) on the leased property and shall have exclusive rights of management and control over the conduct of the business and the personnel employed. The parties agree that there will be no other business of the same nature as a part of the shopping center. Future Lessee's business shall be known as _________________________ (name of business) . 8. Term of Lease The term of the Lease shall be ______ (number) years, and the Lease shall be conditioned on Future Lessor's obtaining ______ (number) additional tenants for the remaining business space in the shopping center, to be comprised of the number and types of businesses provided in Section 3 of this Agreement. 9. Option to Renew Future Lessee shall have the option to renew the lease for an additional period of ______ (number) years or until ___________________ (date) . Written notice must be furnished of an intention to exercise this option to renew, and if exercised, the monthly rental rate shall be subject to renegotiation. 10. Monthly Rental Future Lessee shall pay Future Lessor $__________ per month basic rent and _____% of the monthly gross sales as additional rental payments, to commence _____ (number) days after execution of the written lease, and to continue monthly. 11. Taxes and Assessments A. Future Lessor shall pay all real property taxes assessed against the shopping center. B. Future Lessee shall pay a proportionate share of all assessments and parking facility maintenance costs in a direct ratio to its proportion of floor space in the total shopping center complex. 12. Parking Facilities A. Future Lessor shall provide land for customer parking facilities in the shopping center area to be equivalent to ______ (number) parking spaces for each square foot of Future Lessee's floor space. Additionally, _____ (number) parking spaces per employee will be provided by Future Lessor. B. Access to the shopping center parking facilities shall be guaranteed by Future Lessor and will not be impeded in any manner. 13. Repairs Future Lessee shall be responsible for all repairs to its business property that become necessary after its occupancy commences, provided the repairs are not the result of poor quality of work or negligence by the builder. Future Lessor shall make all repairs occasioned by the latter circumstances. 14. Merchants’ Association Future Lessee shall become a member of the shopping center's merchants' association and be entitled to have ______ (number) members on the board of directors of the association. The association shall be responsible for regulating parking, signs, business hours, and business policy. The association shall have formal bylaws containing the terms of its establishment and operation and the bylaws shall be subject to review by all members before final adoption. 15. Alienation of Lease Future Lessee may transfer, assign, or sublet its area under the Lease Agreement provided the assignee or sublessee agrees to be bound by the terms and conditions of the Lease and agrees to continue the Future Lessee's business. 16. Termination This Agreement will be null and void on an execution of the formal lease agreement by the parties or on ________________ (date) if the lease Agreement has not then been finalized. 17. Severability The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 18. No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 19. Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of _______________. 20. Notices Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 21. Attorney’s Fees In the event that any lawsuit is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees. 22. Mandatory Arbitration Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 23. Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 24. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 25. Assignment of Rights The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 26. In this Agreement, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine. WITNESS our signatures as of the day and date first above stated. ___________________________ ___________________________ (Name of Future Lessor) (Name of Future Lessee) By:______________________________ By:_______________________________ ________________________________ _________________________________ (P rinted name & Office in Corporation) (P rinted name & Office in Corporation ________________________________ _________________________________ (Signature of Officer) (Signature of Officer)