Form Overview
The Shopping Mall Retail Lease provides a comprehensive framework for leasing retail space in a large urban Shopping Center. The Lease favors Landlord and many of the provisions are dictated by banking and investor terms incidental to the financing necessary to construct the facility. The rental payment includes a fixed portion based upon occupancy square footage and a variable portion related to sales activity. Possession and Use of the Premises is defined by reference to an Exhibit (not included). Buildout criteria for Tenant's store as well as Estoppel Certificate, Signage Criteria, Subordination Agreement and Mechanical and Electrical Schedule are also defined by Exhibit (not included). The Landlord has a right to relocate the Tenant during the term of the Lease, as well as the right to audit tenant sales for purposes of validating percentage rent obligations. Operational costs are shared by tenants pro-rata and are set forth in considerable detail. Extensive Tenant insurance obligations are set forth, along with an obligation to participate in a marketing and advertising fund.
A Tenant cannot assign rights under the lease without Landlord approval, thereby restricting the Tenant's right to sell the store or its related business. A radius restriction precluding Tenant from opening similar stores in nearby locations apply. You can find answers to your questions using our extensive library of
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