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Lease Agreement With Option To Purchase
"I need a Lease Agreement With Option To Purchase for my three-bedroom condo in Singapore's East Coast area, with a two-year lease term starting March 2025 and an option to purchase at a fixed price of SGD 1.2 million that can be exercised after the first year."
1. Parties: Identification of lessor and lessee with full details
2. Background: Context of the lease arrangement and option to purchase
3. Definitions: Key terms used throughout the agreement
4. Property Details: Full description of the property including address and lot number
5. Lease Terms: Duration, rent amount, payment terms, and conditions
6. Option to Purchase Terms: Purchase price, option period, and exercise conditions
7. Maintenance and Repairs: Responsibilities for property maintenance
8. Insurance: Required insurance coverage and responsibilities
9. Termination: Conditions for early termination and consequences
1. Utilities and Services: Payment responsibilities for utilities, when separately metered
2. Renovation Clause: Include when modifications to property are anticipated
3. Subletting Provisions: Include if subletting might be permitted
4. Pet Clause: Include if pets are to be allowed or prohibited
5. Security Deposit Investment: Include if specific handling of deposit is required
1. Schedule 1: Property Inventory: Detailed list of furnishings and fittings
2. Schedule 2: Property Condition Report: Documentation of property condition at lease start
3. Schedule 3: Floor Plan: Detailed layout of the property
4. Appendix A: House Rules: If property is in managed development
5. Appendix B: Option to Purchase Form: Standard form for exercising purchase option
6. Appendix C: Payment Schedule: Detailed breakdown of payments and deadlines
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