Alabama Precision Drafting Provision Dealing with Definitions Dating the Lease and Defining Terms

State:
Multi-State
Control #:
US-OL1053
Format:
Word; 
PDF
Instant download

Description

This office lease form states and lists the terms for the Demised Premises. It describes the number of lease years plus any partial lease year as well as the commencement of the lease term.

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FAQ

Section 8-6-17 - Prohibited Acts Regarding Offer, Sale, or Purchase of Securities. Prohibited acts regarding offer, sale, or purchase of securities. (3) Engage in any act, practice or course of business which operates or would operate as a fraud or deceit upon any person.

Standard lease provisions that set forth landlord and tenant rights and obligations include the following clauses: The parties' names: Include occupancy restrictions, and identify all parties to the lease. This includes contact information for the landlord and tenant and emergency contacts for the tenant.

The premises provision of a lease is where the landlord outlines the state in which the property is in prior to leasing. This can be considered a construction of premises provision or a condition of premises provision, depending on if the property or space has already been built.

· The landlord is the Lessor. · The party renting the property from the landlord is the Lessee or Tenant. Creation of the Relationship: THE LEASE AGREEMENT.

Section 41-4-115 State departments and agencies authorized to enter into lease-sale contracts for procurement of equipment, etc.

Renewal Option: A lease provision that gives the tenant the right to extend a lease at the expiration of a primary term of previously executed renewal period. The amount of rent, and other provisions may be set at the time of the original execution of the lease, or may be negotiable at the time of renewal.

Section 41-16-50 - Contracts for which competitive bidding required (a) With the exception of contracts for public works whose competitive bidding requirements are governed exclusively by Title 39, all expenditure of funds for labor, services, work, or for the purchase of materials, equipment, supplies, or other ...

That particular provision in a lease would be called "an option to renew".

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Alabama Precision Drafting Provision Dealing with Definitions Dating the Lease and Defining Terms