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Sample Provisions From Model Ground Lease Bells and Whistles
Parking Lot Operations
Continuation. After the Commencement Date, Landlord or its Affiliate may, at its expense, continue to operate the parking lot presently on the Land (the ”Parking Lot”) in accordance with past practice. All income, rent, and revenue generated from use and operation of the Parking Lot shall belong to Landlord. Landlord may use and occupy the Parking Lot free of any obligation to pay for rent or occupancy.
Parking Lot Shutdown. Tenant shall give Landlord 90 days’ Notice before starting any on-site Construction. On or before the starting date for on-site Construction specified in that Notice, Landlord shall: (i) discontinue parking operations at the Parking Lot, (ii) remove car lifts (but not their foundations or footings) and vehicles on the Premises, (iii) otherwise deliver possession of the Premises vacant and free and clear of any occupancy rights or rights of third parties or occupancy agreements of Landlord or its Related Persons, and in its then as-is condition (and any personal property or equipment that Landlord leaves in place shall be deemed abandoned); and (iv) deliver a certificate to Tenant remaking Landlord’s representations and warranties in this Lease, subject to any exceptions that may then exist but only if they do not violate this Lease (items (i) through (iv), collectively, “Parking Lot Shutdown”).
[For More on Parking Lot Operations,
See Model Ground Lease Bells & Whistles]
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