|
|
|
Leaseback of entire real estate holdings. Witnesses, that in consideration of the covenants contained herein by _________ Steel Co., Inc., and its representatives, to be kept and performed by it, the _________ Realty Co., Inc., does hereby lease to the _________ Steel Co., Inc., the entire real estate holdings of lessor located on _________ in _________, _________. The real estate holdings includes a certain chattel real described on schedule attached hereto. To have and to hold the premises hereby leased unto the _________ Steel Co., Inc., and its representative from _________[year], during the full term of _________ years thereafter: Yielding and paying (except only in case of fire or other casualties herein mentioned) as rent, the sum of $_____ payable in equal monthly instalments of $_____ with the first instalment to be payable on _________[year], the succeeding instalments to be paid on the first of each succeeding month thereafter for the balance of the term, and for such further time as the lessee, or any other person or persons claiming under it shall hold the premises or any part thereof: And the lessee for itself and its representatives hereby covenants and promises the _________ Realty Co., Inc., its representatives and assigns, that it will, during the term, and for such further time as the lessee or any other person or persons claiming under it, shall hold the premises, or any part thereof, pay unto the lessor or its assigns, the monthly rent, upon the days here designated for the payment thereof (except only in case of fire or other casualty as herein mentioned), and also all the taxes and assessments whatever, whether in the nature of taxes now in being or not, which may be payable for, or in respect of the premises, or any part thereof during the term, and for such further time as the lessee or any person or persons claiming under it shall hold the premises or any part thereof; and also will keep all and singular the premises in such repair as the same are in at the commencement of the term, or may be put in by the lessor or its representatives during the continuance thereof; reasonable wear and use, and damage by accidental fire or other inevitable accidents only excepted; and also it will pay the taxes levied for the use of the water furnished by the municipality during the continuance of this lease. Provided always, that in case the premises or any part thereof shall, during the term, be destroyed or damaged by fire or other unavoidable casualty, so that the same shall be thereby rendered unfit for use and habitation, then, and in such case the rent here reserved, or a just and proportionate part thereof, according to the nature and extent of the injury sustained, shall be suspended or abated, until the premises shall have been put in proper condition for use and habitation and in case of such destruction or damage, or a like destruction or damage by any taking or appropriation by public authority for public uses, then the lessor, its heirs or assigns, may terminate this lease. And it is also hereby understood and expressly agreed by the parties to this lease, that all merchandise, furniture, and property of any kind, which may be on the premises during the continuance of this lease, is to be at the sole risk and hazard of the lessee and that if the whole or any part thereof shall be destroyed or damaged by fire, water or otherwise, or by the use or abuse of the municipal water, or by the leakage or bursting of water pipes, or in any other way or manner, no part of loss or damage is to be charged to or be borne by the lessor in any case whatever. Lessee further promises that it will keep whole and in good condition, all the window and other glass on the premises, and also the pipes, faucets, and water fixtures, and that it will leave the same whole and in good condition at the termination of this lease.
Browse Real Estate Forms & Mortgage Forms Alphabetically
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Home • Courses • Real Estate Forms • Income Properties For Sale • Forums • Real Estate Articles Copyright © 2001 - 2006, Buy Income Properties, Inc. All Rights Reserved. Privacy Policy in Observance.
|