LEASE 2025

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The document is a draft lease agreement between the City of North Miami (Landlord) and Oleta Partners LLC (Tenant) for the premises known as Biscayne Landing. It outlines the terms and conditions of the lease, including definitions, payment structures, permitted uses, compliance requirements, development obligations, insurance provisions, and dispute resolution processes. The lease includes provisions for rent payments, participation rent based on revenue from various uses of the property, and responsibilities regarding environmental compliance and remediation. Additionally, it details rights related to subleasing, transfer of interests, and options for purchase. The document emphasizes the net lease nature of the agreement and establishes procedures for handling defaults and remedies available to both parties.

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What is the 90% rule for leases?

The most common types include gross lease, modified gross lease, triple net lease (NNN), percentage lease, and absolute net lease. Each differs based on how operating expenses like taxes, insurance, and maintenance are allocated between landlord and tenant. Understanding the Main Types of Commercial Leases - Visual Lease visuallease.com understanding-different-types-o visuallease.com understanding-different-types-o

What is lease vs rent?

Present value test: To qualify as a capital lease, the lease contract must meet specific accounting criteria, such as the present value of lease payments exceeding a certain threshold (usually 90%) of the assets fair market value at the inception of the lease.

Does a lease mean you are renting?

Pros of Leasing a Vehicle Your payments may be lower when you lease. You may gain access to newer vehicles by leasing. Your upfront costs are minimal. You may get a great warranty. You avoid depreciation. Higher-end vehicles may be an option when you lease. Pros and Cons of Leasing a Vehicle - Toyota toyota.com car-tips pros-cons-leasing-ve toyota.com car-tips pros-cons-leasing-ve

What is the lease payment on a $30,000 car?

Leasing and renting are similar and sometimes used interchangeably, but there are some subtle differences between the two, like the length of tenancy. A lease is generally a long-term agreement while a rental agreement can be on a month-to-month basis.

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