Common Property Alterations to Buildings and Land Clause Samples
Common Property Alterations to Buildings and Land
Premises Building Project and Common Areas 1.1 Premises, Building, Project and Common Areas.
LEASE ALTERATIONS The Owner hereby gives power to the Agent to initiate, sign, renew, modify, or cancel rental agreements and leases for the Property, or any part thereof and collect and give receipts for rents, other fees, charges, and security deposits.
Landlord Improvements Prior to Tenant’s occupancy, Landlord shall complete the Landlord Improvements. Landlord shall use commercially reasonable efforts to complete the Landlord Improvements by the Anticipated Rent Commencement Date. (a) As of November 4, 2011, after consultation with Tenant, Landlord has provided Tenant with Landlord’s proposed plans and specifications (defined below in subpart (c))for the Landlord Improvements (such plans and specifications, as amended in accordance with the provisions of this Rider 101, are hereafter called “Plans and Specifications”). (b) The Plans and Specifications have been accepted by both Tenant and Landlord, the Plans and Specifications are incorporated herein by reference and made a part hereof for all purposes. (c) Landlord and Tenant acknowledge that the plans dated November 4, 2011, by Page ▇▇▇▇▇▇▇▇▇▇▇ Page, LLP have been approved by both parties and shall constitute the “Plans and Specifications.” (d) Promptly upon approval of the Plans and Specifications, Landlord has caused general contractors to bid for construction of the Landlord Improvements. All bids have been opened together, with Landlord selecting the general contractor with the lowest bid to construct the Landlord Improvements (the “General Contractor”), subject to the reasonable approval of Tenant. Landlord shall enter into a guaranteed maximum price construction contract with the General Contractor in the amount of its bid (the “Approved Bid”) and shall not modify such contract without Tenant’s consent, which shall not be unreasonably withheld, delayed or conditioned. Landlord and Tenant have reviewed the Plans and Specifications and the bids and have agreed upon the scope of work to be constructed at a cost of construction not to exceed the Landlord’s Contribution.
Alterations, Additions, and Improvements Tenant shall not make any alterations, additions or improvements which affect the structure of the Building or which decrease the square footage of the Building or which reduce the value of the Premises, in each case without the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the above, and provided Tenant complies with all Legal Requirements in connection therewith, Tenant shall have the right at all times to make all other alterations, additions or improvements to the Building without Landlord’s prior written approval. Tenant shall not be required to restore any alterations or additions permitted under this paragraph to the Premises or remove improvements at the end of the Term. All alterations, additions and improvements permitted under this paragraph or consented to in writing by Landlord are referred to as “Permitted Alterations”. All alterations, additions or improvements made by Tenant which are permanently attached to and made part of the Premises shall become the property of Landlord at the expiration of the Term, except for signs, trade fixtures, furnishings, machinery and equipment used in or on the Premises and furnished by Tenant which Tenant may remove, provided Tenant repairs any damage to the Premises caused thereby (reasonable and ordinary wear and tear excepted). For federal income tax purposes, Tenant’s signs, trade fixtures and furnishings are defined herein as equipment. Tenant shall pay, when due, all claims for labor or materials furnished or alleged to have been furnished to or for Tenant for use in the Premises, which claims are or may be secured by any mechanics’ or materialmen’s lien against the Premises or any interest therein.
ALTERATIONS AND IMPROVEMENTS Tenant shall make no alterations to the buildings or improvements on the Premises or construct any building or make any other improvements on the Premises without the prior written consent of Landlord. Any and all alterations, changes, and/or improvements built, constructed or placed on the Premises by Tenant shall, unless otherwise provided by written agreement between Landlord and Tenant, be and become the property of Landlord and remain on the Premises at the expiration or earlier termination of this Agreement.