[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-281510-105":3,"detail-sidebar-cat-1-en-105":81,"doc-detail-281510-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","lease-term-sheet-lease-terms-and-rent-conditions","Lease Term Sheet - Lease Terms and Rent Conditions","","Lease term sheet detailing key contracting terms between landlord and tenant, including premises address and description, lease term (3 years), base rent calculation tied to a stated percentage of advertised market rent by lease year, and how base rent is adjusted with or without tenant finish allowance. It defines rent commencement, possession conditions, permitted use, environmental obligations, reimbursement contributions from the Downtown Norfolk Council, expense allocation, security deposit and default/cure periods, plus assignment restrictions and indemnification and landlord lien/subordination provisions.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/forms/","Forms",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/lease-term-sheet-lease-terms-and-rent-conditions/281510/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/lease-term-sheet-lease-terms-and-rent-conditions/281510.png","ImageObject",442,249,{"name":42,"@type":43},"Jordan Avery","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-22","2026-09-16",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",11,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"How is base rent calculated across the 3-year lease term?","Question",{"text":63,"@type":64},"Base rent is set as a percentage of the advertised market rent for the premises: 50% during lease years 1–2 and 75% during lease year 3. The advertised market rent definition also includes base rent plus the tenant’s estimated share of real estate taxes, landlord insurance, and common area maintenance charges.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"What is the Tenant Finish Allowance and how does it affect rent?",{"text":68,"@type":64},"Landlord provides a maximum tenant finish allowance for finishing and outfitting the premises for the tenant’s intended use. If the tenant agrees to no tenant finish allowance, or only a portion, the advertised market base rent is adjusted accordingly.",{"name":70,"@type":61,"acceptedAnswer":71},"How does the Downtown Norfolk Council reimbursement work?",{"text":72,"@type":64},"The DNC reimburses the tenant up to $20,000 (or higher as determined in its sole discretion) for approved costs and expenses related to preparing the premises and opening the business. Payments are made 50% upon opening in substantial compliance with the lease proposal, and 50% one year after opening while the business remains in substantial compliance.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},281510,1791136500,{"code":4,"msg":82,"data":83},"success",[84,88,93,98,103,108,112,117,122],{"id":55,"doc_module":22,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},"Presentations",90,"presentations",{"id":89,"doc_module":22,"doc_module_name":25,"category_name":90,"show_sort_weight":91,"slug":92},12,"Resumes",80,"resumes",{"id":94,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},14,"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":110,"slug":111},17,40,"forms",{"id":113,"doc_module":22,"doc_module_name":25,"category_name":114,"show_sort_weight":115,"slug":116},18,"Letters",30,"letters",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},21,"Paper Templates",5,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":82,"data":127},{"doc_id":79,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":109,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":135,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":140,"read_time":26,"preview_page_count":4},1099523882367,"https://ap-avatar.wpscdn.com/davatar_9964176cb1d06d4a9deccf72a44ae3dc","LEASE TERM SHEET  \nLandlord:  \nTenant:  \nGuarantor(s) : If the Tenant is an entity, the Lease shall be guaranteed by  \nthe principal(s) of the tenant.  \nPremises Address:  \nPremises Description: Approximately   square feet, shown on the plan attached  \nas Exhibit A  \nTerm: 3 lease years  \nBase Rent: During lease year 1 and 2 , the Base Rent for the Premises  \nshall be equal to 50% of the advertised market rent1 for the Premises and during lease year 3 , the Base Rent for the Premises shall be 75% of the advertised market rent for the Premises.  \nIf Tenant uses all of the Tenant Finish Allowance, the advertised market rent for the Premises is $  per square foot of leasable floor in the Premises which equals $  Base Rent per year. During lease year 1 and 2 , the Base Rent for the Premises shall be $  per month (based on $  per leasable square foot of leasable floor area in the Premises for the year) . During lease year 3 , the Base Rent for the Premises shall be $  per month (based on $  per leasable square foot of leasable floor area in the Premises for the year) .  \n1 Market rent, as used herein is base rent for the premises, plus tenant’s estimated share of real estate taxes, landlord insurance costs, and common area maintenance charges.  \nPercentage Rent:  \nExpenses:  \nSecurity Deposit:  \nPossession Date:  \nPremises Condition:  \nIf Tenant agrees to no Tenant Finish Allowance, the advertised market rent for the Premises is $  per square foot of leasable floor in the Premises which equals $  Base Rent per year. During lease year 1 and 2 , the Base Rent for the Premises shall be $  per month (based on $  per leasable square foot of leasable floor area in the Premises for the year) . During lease year 3 , the Base Rent for the Premises shall be $  per month (based on $  per leasable square foot of leasable floor area in the Premises for the year) .  \nIf Tenant agrees to only a portion of the Tenant Finish Allowance the advertise base rent will be adjusted accordingly.  \nNone  \nTenant shall pay for electric, telephone and cable. Landlord shall pay for water, sewer and trash collection. Tenant will not make any payment above Base Rent for CAM, real estate taxes, landlord insurance or HRSD.  \nEqual to one month Base Rent shall be payable by Tenant upon full execution of the Lease for the Premises  \nTo be agreed upon.  \nLandlord shall deliver the Premises in its present “AS IS”condition, broom clean, with HVAC installed and electric, water and sewer to the Premises and building code compliant restroom facilities installed or available to the Premises.  \nRent Commencement Date:  \nThe earlier to occur of (a) 60 days after actual Possession Date or (b) opening for business.  \nTenant Finish Allowance:  \nDNC Tenant Reimbursement Contribution:  \nPermitted Use:  \nEnvironmental:  \nLandlord shall provide a maximum Tenant Finish Allowance equal to $  (based on $  per square foot ofleasable floor area of the Premises) which shall be used by Tenant only for finishing and outfitting the Premises for Tenant’s intended use. Landlord and Tenant shall agree upon the Tenant Finish Allowance required by the Tenant.  \nThe Downtown Norfolk Council (“DNC”) will pay to the Tenant up to $20 ,000 (or such higher amounts as the DNC may determine in its sole discretion) as reimbursement for costs or expenses incurred by the Tenant in preparing the Premises and opening Tenant’s business at the Premises, approved for reimbursement by the DNC, as follows:  \n50% upon Tenant opening for business at the Premises in substantial compliance with the lease proposal submitted by Tenant; and  \n50% one year after Tenant opening for business the Premises and the business remaining open atthe Premises in substantial compliance with the lease proposal submitted by Tenant.  \nTenant shall be responsible for obtaining any permits or approvals for the use of the sidewalk and public areas in front of the Premises.  \nLandlord shall represent and warrant to Tenant that the Premises","cbCaijhIeYjShHtO","https://ap.wps.com/l/cbCaijhIeYjShHtO","pdf",130976,6,"English","# Lease Term Sheet\n## Parties and Premises\n## Financial Terms\n## Reimbursement, Use, and Allowances\n## Compliance, Default, and Legal Protections","[{\"question\":\"How is base rent calculated across the 3-year lease term?\",\"answer\":\"Base rent is set as a percentage of the advertised market rent for the premises: 50% during lease years 1–2 and 75% during lease year 3. The advertised market rent definition also includes base rent plus the tenant’s estimated share of real estate taxes, landlord insurance, and common area maintenance charges.\"},{\"question\":\"What is the Tenant Finish Allowance and how does it affect rent?\",\"answer\":\"Landlord provides a maximum tenant finish allowance for finishing and outfitting the premises for the tenant’s intended use. If the tenant agrees to no tenant finish allowance, or only a portion, the advertised market base rent is adjusted accordingly.\"},{\"question\":\"How does the Downtown Norfolk Council reimbursement work?\",\"answer\":\"The DNC reimburses the tenant up to $20,000 (or higher as determined in its sole discretion) for approved costs and expenses related to preparing the premises and opening the business. Payments are made 50% upon opening in substantial compliance with the lease proposal, and 50% one year after opening while the business remains in substantial compliance.\"}]","Lease Term Sheet - Lease Terms and Rent Conditions | PDF",1789566512]