New Jersey Institute of Technology Tenancy Agreement Discussion

Description

The attached form lease is one I used for a deal. You will notice it is lengthy and yet it is a standard form for institutional owners in any of their office spaces. The Lease covers all expected and unexpected issues that may or may not arise, and like all Landlords Leases, it favors the Landlord but is fair to the Tenant.

Using the attached Form Lease Document, answer the following questions:

1- What is another name for the clause in Section 1.8 (b) and why would the Tenant request this clause?

2- Looking at Sections 1.9 and 1.10, what amounts are required at lease signing and why?

3- Section 2.2 outlines the condition of the premises. Please explain what is stated and why you think the parties required this info.

4- Section 3.1, clauses (a) through (e) explain the start date of the Lease. Please explain each section and why it is listed.

5- Section 4.3 (a) through (d) discusses Operating Expenses. Please describe anything that your are unsure about what it means or why it is there and share why you believe it is stated that way.

Extra Credit (10 points)

Choose one Section among 8.1, 8.2, 11.1, 11.2, or 15.22 and describe what it means, why it is in the Lease, and who benefits (both can benefit, just need to explain it)

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