99 Year Ground Lease

Land owners / developers, prepare a 99 Year Ground Lease for land that will be developed as the site of a commercial office and retail project.

• The minimum yearly rental for the land is calculated as the greater of (a) a specified fixed amount or (b) a percentage of the annual net rentals generated by the developed property.
• In addition to minimum annual rent, the developer (as lessee) will pay the costs of clearing the land and obtaining surrenders of leases from any existing tenants.
• The lessee has a right of first refusal if the land owner (lessor) decides to sell or dispose of its interest in the land.
• The lessee is responsible for carrying sufficient and proper insurance, for paying all taxes, charges, liens and utility costs for the property.
• The lessee has the right to assign the lease or to mortgage or otherwise encumber the property without the consent of the lessor.

This generic 99 Year Ground Lease template is in Microsoft Word format and can be easily edited to fit your circumstances.