This office lease form describes the conditions of the delivery of the premises. This clause deals with preexisting conditions, violations, hazardous materials and the delivery condition definition.
Guam Conditions of Delivery on Premises and Responsibility for Future Repairs
Category:
State:
Multi-State
Control #:
US-OL10042
Format:
Word;
PDF
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FAQ
The Borrower shall, and shall cause each Subsidiary to, maintain all of its properties and assets in good condition, repair and working order, ordinary wear and tear excepted. Maintenance of Property. Borrower shall cause the Property to be maintained in a good and safe condition and repair.
Landlord at its sole cost and expense, shall maintain in good condition, order, and repair, and replace as and when necessary, the foundation, exterior load bearing walls and roofs structure of the Building Shell.
When tenants and landlords understand their responsibilities they can more likely avoid disputes. Landlords are legally obligated to maintain their rental properties and complete repairs. Tenants are legally obligated to keep their rental in good condition and repair things beyond reasonable wear and tear.
Premises management includes the range of activities necessary to ensure the safety, maintenance and smooth running of buildings. All premises require regular maintenance and estate management if they are to be kept in good repair and operate well.
Typically found in a shopping center retail lease, this clause obligates the retail tenant to pay its proportionate share of the landlord's costs of operating and maintaining the common areas of the shopping center.
