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Revised Lease Agreement
"I need a Revised Lease Agreement under Philippine law for a commercial property in Makati CBD, where we're extending the lease term for an additional 5 years starting March 2025, with a 15% increase in rent and new provisions for tenant improvements."
1. Parties: Identification and details of the Lessor and Lessee
2. Background: Context of the lease revision and reference to original agreement
3. Definitions: Defined terms used throughout the agreement
4. Property Description: Detailed description of the leased premises
5. Term and Renewal: Duration of lease, commencement date, and renewal provisions
6. Rent and Payment Terms: Rental amount, payment schedule, and rent review mechanisms
7. Security Deposit: Amount, terms, and conditions for security deposit
8. Use of Premises: Permitted use and restrictions on property usage
9. Maintenance and Repairs: Responsibilities for property maintenance and repairs
10. Utilities and Services: Responsibility for utility payments and services
11. Insurance: Required insurance coverage and obligations
12. Default and Remedies: Events of default and available remedies
13. Termination: Grounds and procedures for termination
14. Governing Law: Application of Philippine law and jurisdiction
15. Notices: Process for giving notices between parties
16. Execution: Signature blocks and execution details
1. Assignment and Subletting: Include for properties where subletting might be permitted
2. Alterations and Improvements: Include for properties where tenant modifications are anticipated
3. Common Areas: Include for properties in multi-tenant buildings or complexes
4. Operating Expenses: Include for commercial properties with shared maintenance costs
5. Option to Purchase: Include if lease-to-own arrangement is contemplated
6. Force Majeure: Include specific provisions for unforeseen circumstances
7. Environmental Compliance: Include for properties with environmental considerations
8. Pest Control: Include for residential properties or food service establishments
9. Signage Rights: Include for commercial properties requiring external signage
10. Parking: Include if specific parking arrangements are part of the lease
1. Schedule A - Property Floor Plan: Detailed floor plan and measurements of the leased premises
2. Schedule B - Inventory List: List of fixtures, fittings, and equipment included in the lease
3. Schedule C - Service Charges: Breakdown of service charges and maintenance fees
4. Schedule D - House Rules: Building or property rules and regulations
5. Schedule E - Fit-out Guidelines: Guidelines for any permitted tenant improvements
6. Schedule F - Handover Condition: Documentation of property condition at handover
7. Appendix 1 - Original Lease Agreement: Copy of the original lease agreement being revised
8. Appendix 2 - Required Permits: Copies of relevant permits and certificates
9. Appendix 3 - Insurance Requirements: Detailed insurance specifications
10. Appendix 4 - Payment Schedule: Detailed breakdown of payment terms and schedules
Authors
Real Estate
Commercial Property
Residential Property
Retail
Office Space
Industrial
Hospitality
Healthcare
Education
Warehousing and Storage
Manufacturing
Agriculture
Entertainment and Leisure
Mixed-Use Development
Legal
Real Estate
Facilities Management
Operations
Finance
Compliance
Risk Management
Administrative
Property Management
Asset Management
Contract Management
Business Development
Property Manager
Real Estate Manager
Facilities Manager
Legal Counsel
Corporate Lawyer
Real Estate Agent
Leasing Manager
Asset Manager
Operations Manager
Contract Administrator
Property Administrator
Business Development Manager
Chief Financial Officer
Real Estate Director
Compliance Officer
Risk Manager
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