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GROUND LEASE AGREEMENT This ground lease (the Lease “) is made by and between CROSS VALLEY WATER DISTRICT, a Washington municipal corporation (“ Ground Lessor “), and CLEARVIEW WATER SUPPLY
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How to fill out ground lease agreement
01
The first step in filling out a ground lease agreement is to clearly identify the parties involved. Include the full legal names of both the lessor (landowner) and the lessee (tenant) as well as their contact information.
02
Next, specify the property being leased. Provide a detailed description of the land or premises, including its address and any specific boundaries or landmarks that may be relevant.
03
Clearly state the agreement's duration or term. Indicate the start and end dates of the ground lease, along with any renewal options or conditions for termination.
04
Outline the purpose of the ground lease. Specify whether it is for residential, commercial, agricultural, or other purposes. This will help set the context and any applicable restrictions or permitted uses.
05
Address the rental payments or consideration. Clearly state the amount of rent due, the frequency of payment (monthly, quarterly, etc.), and the preferred method of payment. Additionally, include any penalties or interest charges for late payments, if applicable.
06
Specify any obligations, responsibilities, or maintenance requirements of both the lessor and lessee. This may include responsibilities for repairs, taxes, insurance, utilities, or any other relevant obligations.
07
Include any additional terms or clauses that may be necessary or desired, such as restrictions on subleasing, alterations to the property, or dispute resolution mechanisms.
08
Clearly state the consequences for any breach of the agreement by either party. This may include remedies, penalties, or the grounds for termination.
09
If required, it is recommended to consult with legal professionals or experts in real estate law to ensure the accuracy and validity of the ground lease agreement.
Who needs a ground lease agreement?
01
Property owners who want to lease their land for a specific period of time.
02
Developers or businesses looking for a long-term lease for commercial, residential, or agricultural purposes.
03
Tenants or lessees who require access to land in order to carry out their activities, such as farming, building, or other commercial operations.
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What is ground lease agreement?
A ground lease agreement is a lease of land only, on which the tenant usually owns a building or is required to build a building and lease it back to the landowner.
Who is required to file ground lease agreement?
The tenant or lessee is typically required to file the ground lease agreement.
How to fill out ground lease agreement?
The ground lease agreement should be filled out by including details such as the names of the parties, the duration of the lease, rental payments, and any other terms and conditions agreed upon.
What is the purpose of ground lease agreement?
The purpose of a ground lease agreement is to allow a tenant to use and develop the land for a specified period of time, usually for commercial or residential purposes.
What information must be reported on ground lease agreement?
Information such as the names of the parties involved, the duration of the lease, rental payments, and any other terms and conditions should be reported on the ground lease agreement.
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