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Ground Lease Template
Initials______ ______
Lessor Lessee
THIS LEASE made and entered into as of __________, by and between __________, a __________
corporation chartered by the State of __________, with an address of __________ (hereinafter called
"Lessor"), and __________ (hereinafter called "Lessee").
WHEREAS, Lessor is the owner of certain lands comprising approximately __________ acres and known
as __________ with an address of __________, Village of __________, County of __________, State of
__________, more particularly described in Exhibit "A" hereunto annexed and made a part hereof, and
Lessee is desirous of leasing said site from Lessor on the terms and conditions hereinafter set forth.
NOW, THEREFORE, in consideration of the premises and the respective undertakings of the parties
hereinafter set forth, it is hereby agreed as follows:
1. Definitions. As used herein, the following terms have the following meanings:
A. "Premises" means the land described in Exhibit "A" attached hereto and all easements,
licenses, privileges, rights and appurtenances related thereto. The term "Premises" shall not include the
"Improvements" (as hereinafter defined).
B. "Improvements" means all buildings, structures and improvements now or hereafter
situated or erected on the Premises or any part thereof and all fixtures, machinery, equipment, all building
equipment, and, without limitation, other property of every kind or nature situated thereon or pertaining
thereto or used in connection therewith, excluding only the "Personal Property" (as hereinafter defined)
and property owned by third persons who are not, directly or indirectly, controlled affiliates of Lessee.
C. "Personal Property" means the trade fixtures, furniture, furnishings and business
equipment now or hereafter located on or used in connection with the Premises or Improvements, which
are movable and not attached to the Premises or the Improvements or any part thereof and not
necessary for the proper and efficient operation of the Improvements, excluding any property owned by
third persons who are not, directly or indirectly, controlled affiliates of Lessee.
D. "Property" means the Premises, the Improvements and the Personal Property.
E. "Taxes" means:
(1) All real estate taxes, special assessments, water taxes, excises, levies, license
and permit fees and other governmental shares and costs of every kind and nature, general and special,
ordinary and extraordinary, foreseen and unforeseen, of any kind or nature whatsoever (including, but not
limited to, assessments for streets, sidewalks, sewers, lights and other improvements and general and
special state, county, village, and city taxes, benefit taxes and assessments), and payments in lieu of
taxes, which at any time or times prior to or during the "Term" (as hereinafter defined), or at any time or
times after the Term but with respect to a period or periods or event or events occurring in whole or in part
during the Term, may or shall become a lien on or be assessed, levied, confirmed, imposed upon or
become due or payable on or with respect to (a) the Premises, Improvements, Personal Property or any
part thereof, (b) the rent, receipts, income or other payments received by or from Lessee or anyone
claiming by, through or under Lessee, (c) any use or occupation of the Property or (d) this transaction or
any document to which Lessee is a party creating or transferring an interest or estate in the Property;
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