The following are some provisions I have in a particluar lease. Do you see any major problems with any of the provisions:
A. Base Land rent will increase 10% at the end of each 5 year period
B. Lessee will reimburse Lessor with respect to any annual increase in the county, school or city taxes for the premises that can be directly attributed to the construction of the outdoor advertising structure. Lessee will make such payment to the Lessor within fifteen (15) days after receiving written proof of such tax from the Lessor.
C. If the Lessee fails to erect the outdoor advertising structure within twelve (12) months from the date of this lease, then the Lessor will have option of cancelling this lease by providing Lessee thirty (30) day written notice of such intention to cancel the lease.
D. Lessee will not advertise anything of pornographic nature
E. Lessee will not advertise any competitive business with Lessor or tenant occupying the leased property
F. Lessee agrees not to alter any currently existing parking spaces
G. Lessee and lessor will mutually agree on the location of the sign
The clauses seem okay but I am concerned with clause F & G because after the sign is up couldn’t the owner or future owner argue this is taking up parking or show me proof we mutually agreed on the location and force the sign to move or come down.
Please give me your thoughts. Thank you