Commercial Lease Questionnaire - Free Download | Page 4
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a. Property taxes
b. General and special assessments
c. Utilities
3. Who will be required to maintain and pay cost of insurance on:
a. Leased premises
b. Any common areas
4. For each party required to insure:
a. What types of insurance are required
b. What amounts of insurance are required
5. Is either party obligated to repair or rebuild in event of:
a. Partial destruction
b. Total destruction
6. Does either party have right to terminate lease for:
a. Partial destruction
b. Total destruction
7. If all or portion of leased premises is condemned:
a. Will lease terminate as to portion condemned
b. Will lease continue in effect as to any portion not condemned, and if so:
(1) Will amount of rent payable be reduced pro rata or on some other
basis
(2) Who will have obligation to do any necessary restoration
c. Will lease provide for how any condemnation award is to be shared
between landlord and tenant
NOTE: Unless otherwise provided in the lease, distribution of the award is
determined by law.
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H. Transfer of Interests in Property
1. Will any restrictions be placed on tenant's right to sublet or assign leased
premises
2. Will tenant be granted option to purchase, or right of first refusal to purchase,
leased premises
3. On landlord's sale of leased premises, will:
a. Landlord have right to terminate lease
b. Will lease continue in effect
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