Ground Lease Term Sheet

Summary

This Ground Lease Term Sheet template is a customary form of non-binding term sheet for a ground lease transaction where the property will be constructed by the tenant as a commercial property, in this case as a hotel. This template includes practical guidance and drafting notes. By separate letter, the parties may elect to cause certain provisions of the Term Sheet to be binding, such as confidentiality, access, brokerage, deposit and certain other provisions referenced as "Binding" in this template. Typically, the obligations of the parties would be conditioned upon and subject to the negotiation and execution of a ground lease within a defined period of time. For additional guidance, see Ground Leasing Resource Kit and Ground Leases: Drafting and Negotiation Strategies.