Lease agreement template for FFS

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Lease agreement template for FFS

The Letting Terms: members covenants

In consideration of the payment by the Member to the Society of the Equity Share (receipt of which the Society hereby acknowledges) the Society lets the Premises to the Member with full title guarantee with the rights for the Member set out in Schedule 2 excepting and reserving for the Society the rights set out in Schedule 3 for the Term at the Initial Monthly Charge.

Member’s covenants

The Member covenants with the Society as follows:

Pay rent

To pay the Monthly Charge during the Term by equal monthly payments clear of all deductions in advance to the Society by direct debit. The first payment of Monthly Charge must be made on the date hereof for the first monthly period and each subsequent payment must be made on the [ ] day of each month for the period beginning on the date when the payment is due.

Not to exercise any right or claim to withhold Monthly Charge or in respect of legal or equitable set off

Interest

To pay interest calculated on a day to day basis at an annual rate of 3% above the Base Rate of Barclays Bank PLC for the time being in force on so much of the Monthly Rent or any other monies due to the Society under this Lease that remain unpaid for a period of 14 days after becoming due for payment.

Insurance premiums

To pay to the Society a fair and proper proportion attributable to the Premises, such proportion to be conclusively determined by the Society (who shall act reasonably) of the insurance premiums incurred by the Society in connection with the Premises and the Development.

Outgoings

To pay all Outgoings in relation to the Premises or any part of the Premises.

To refund to the Society on demand (where Outgoings relate to the whole or part of Premises which includes the Premises) a fair and proper proportion attributable to the Premises, such proportion to be conclusively determined by the Society (who shall act reasonably).

To pay for all gas, electricity and water consumed on the Premises together with all connection and standing charges and to comply at the Member ’s expense with all requirements of the relevant supply boards;

In addition to all rents, costs, fees, disbursements, expenses and other sums payable by the Member from time to time under the terms of this Lease to pay on demand any VAT or any other tax of a similar nature which may from time to time be imposed by the Society or any other person upon any payment made under this Lease (including any rents);

To ensure that all accounts issued by relevant boards or suppliers are issued to and made out in the name of the Member for the duration of this Lease. The Member must pay all such accounts within a reasonable period of receipt of them. If any service or facility is disconnected for non-payment of an account, the Member must pay the reconnection charges and fully indemnify the Society against any loss arising from the disconnection.

To pay to the Society (if required) the relevant excess (if any) in respect of each and every claim made under the Society’s insurance policy relating to the Premises

Repair

To repair and keep the Premises in good and substantial repair and condition (except in respect of damage by risks insured under Clause 5.2 unless the insurance money is irrecoverable by reason of any act or default of the Member) including all rainwater goods and Service Media for the transmission of Services to or from the Premises except that the Member need not put the Premises in any better condition as evidenced by the Schedule of Condition.

To clear all guttering and rainwater goods no less than once in every six months.

To regularly check all pipes rainwater goods plumbing and wiring for defects damp or damage and on any such discovery to promptly repair or remedy the same.

To keep all electrical, radio, television, video and other domestic appliances, security alarms and smoke detectors in good working order, compliant with legislation and fully licenced (as necessary).

To clean the windows and the glass in any exterior doors at the Premises as often as is reasonably required.

To maintain the unbuilt areas of the Premises in a neat and tidy condition and not to allow any tree, shrub or plant to grow more than 2 metres in height and to keep all fences and gates in good working order.

Except for private motor vehicles owned by the Member and for which (if applicable) they have been allocated a parking space through the Society’s transport policy from time to time and parked in designated parking areas parked on a first come first served basis, the Member must not keep any vehicle boat or caravan or moveable dwelling on the Premises or Development or store anything on them that is untidy unclean unsightly or in any way detrimental to the Premises or to the Development.

To use waste and recycling containers provided by the Society and place all waste and recycling materials in them and ensure that they are regularly emptied by the Local Authority. The containers must be kept in the position stipulated by the Society and the Member must not deposit waste in any other part of the Development.

Decoration

As often as is reasonably necessary and in the last month of the Term in a proper and workmanlike manner (and in the last month of the Term in colours approved by the Society) to paint, paper, treat and generally decorate in a style appropriate to Premises of a like character (and in accordance with any policy laid down by the Society from time to time) all the inside of the Premises previously or usually so painted, papered, treated and decorated.

To keep all internal walls and surfaces (including woodwork) in good decorative order at all times.

Communal Facilities

Pay a fair proportion (as directed by the Society acting reasonably) of the cost of constructing repairing rebuilding maintaining, lighting and cleaning any Communal Facilities and to contribute (in an amount requested by the Society, acting reasonably) towards any sinking fund created and maintained by the Society.

In respect of any damage or disrepair to the Communal Facilities or the Development caused or contributed to by any act, neglect or default of the Member or the Member ’s family, servants or licensees or by any other person under the control of the Member , at the option of the Society, the Member will on demand indemnify the Society in respect of all costs, charges and expenses incurred the Society in repairing, making good, renewing and/or reinstating such damage or disrepair.

Not to alter

Not without the previous written consent of the Society (such consent not to be unreasonably withheld or delayed) to:

make any alterations or additions to the Premises;

remove any of the Society’s fixtures from the Premises.

make any connections to any Service Media

At the end of the Term, if so requested by the Society, to remove any additions or alterations or improvements made to the Premises and must make good any part of the Premises that is damaged by their removal.

Comply with requirements of public authorities

To execute and do at the expense of the Member all works and things as may at any time during the Term be directed or required by any national or local or other public authority to be executed or done upon or in respect of the Premises or any part of the Premises and to enter into any necessary deed of grant or variation in respect of easements relating to Service Media if requested to do so by the Society;

To observe and perform at all times during the Term the covenants, conditions, exceptions, reservations, declarations, agreements and stipulations and all other matters contained or referred to in any planning permission and any planning agreement so far as the same relate to the Premises and require continued compliance by the owner or occupier of the Premises.

Provide copies of notices

Promptly to serve on the Society a copy of any notice, order or proposal relating to the Premises and served on the Member by any national, local or other public authority.

Expenses of the Society

To pay all costs, charges and expenses (including solicitors’ costs and surveyors’ fees) reasonably incurred by the Society:

for the purpose of or incidental to the preparation and service of a notice under section 146 or section 147 of the Law of Premises Act 1925 even if forfeiture is avoided otherwise than by relief by the court; or

otherwise incurred by the Society in respect of any breach of covenant by the Member under this Lease;

every application made by the Member for any consent, approval or licence under the terms of this Lease whether or not such consent, approval or licence is granted (whether or not such grant is subject to any law qualification or condition), refused or withdrawn; or

in connection with the assignment or underletting of this Lease;

otherwise incurred by the Society in respect of any breach of covenant by the Member under this Lease including the recovery of any arrears of any sums due from the Member under the terms of this Lease

Obtain consents

To obtain all licences, permissions and consents and do all works and things and pay all expenses required or imposed by any existing or future legislation in respect of any works carried out by the Member on the Premises or any part of the Premises or in respect of any use of the Premises during the Term.

Society’s right of inspection and right of repair

To permit the Society and its employees or agents at reasonable times to enter the Premises and examine their condition and also to take a schedule of fixtures and fittings in the Premises.

If any breach of covenant, defects, disrepair, removal of fixtures and fittings or unauthorised alterations or additions are found on inspection for which the Member is liable, then, on notice from the Society, to execute to the reasonable satisfaction of the Society or the Society’s surveyor all repairs, works, replacements or removals required within three months (or sooner if necessary) after receipt of notice.

If the Member fails to comply with a notice under Clause 4.13.2, the Society may itself or by its workpeople or agents enter the Premises and execute the repairs, works, replacements or removals.

To pay to the Society on demand all expenses and costs inclusive of professional fees incurred under either Clause 4.13.3.

Permit entry

At all reasonable times during the Term on notice to permit the Society and the lessees of other adjoining or neighbouring premises with workmen and others to enter the Premises for the purpose of repairing any adjoining or neighbouring premises or other parts of the Development and for the purpose of repairing, maintaining and replacing all Service Media or other conveniences belonging to or serving the same, the party so entering making good any damage caused to the Premises.

Yield up

At the termination of this Lease to quietly yield up the Premises repaired, maintained, cleaned, decorated and kept in accordance with the covenants in this Lease (except in respect of damage by risks insured under Clause 5.3 unless the insurance money is irrecoverable by reason of any act or default of the Member ).

If the Member has not complied with their obligation in terms of the state of repair of the Premises then they must pay the proper costs incurred by the Society in carrying out any works of repair or decoration required in order to restore the Premises to the condition required by this Lease. The cost of such repairs will be deducted from the value of the Member’s Equity Share paid to the Member on vacating the Premises.

Use

Not to use the Premises for anything other than as a single private residence for occupation by the Member or Members personally as his, her or their principle home and the Member’s or Members’ family and no other person.

Restrictions on use

Not to do any act or thing which may:

render void or voidable any policy of insurance on the Premises or may cause an increased premium to be payable in respect of the Premises and to advise the Society in writing immediately (including at the start of this Lease as necessary in respect of prior convictions) of any conviction, judgment or finding of any court or tribunal relating to the Member of such nature as would be likely to affect the decision of any insurer or underwriter to grant or continue insurance of any risk against which the Premises is subject;

cause or permit to be caused nuisance, annoyance or disturbance to the owners lessees or occupiers of premises in the neighbourhood or visitors to such premises;

result in any form of harassment or intimidation of any other person; or

result in the use of the Premises for any unlawful or immoral purpose

Not to make any planning application relating to the Premises

Not to use the Premises or allow it to be used for any auction sale, any dangerous, noxious, noisy or offensive activity or any illegal or immoral act or purpose and must not carry on any trade, business, manufacture or commercial activity on it other than in accordance with the policy on homeworking set down by the Society from time to time.

Not to keep or allow any animal, bird or reptile to be kept on the Premises except that in accordance with the Society’s pet policy from time to time and with the Society’s prior written consent (not to be unreasonably withheld or delayed), a dog or cat may be kept at the Premises. Such consent shall be withdrawn if the animal concerned causes any nuisance to neighbouring occupiers or other Members.

Not to play any musical instrument or device and to not allow noise from a radio, television set, compact disc, tape or record player or any other sound production system or any machine or equipment to be heard outside the Premises in such a manner that may cause a disturbance to the occupiers of adjoining properties or to the Development generally. In respect of noise generated in external or outside areas, Members must be considerate to their within the Development and any events/activities in the external or outside parts of the Development which may cause disturbances must be approved by the Society in advance, such approval not to be unreasonably withheld or delayed.

Not to display anywhere on the Premises any placard sign notice facia board or advertisement or allow anyone under his control to do so except with the Society’s consent which is not to be unreasonably withheld or delayed.

Not to erect any poles or masts on the Premises or install any cables or wires outside it whether in connection with telecommunications or otherwise or allow anyone under their control to do so except with the Society’s consent.

[Other Restrictions]

Security

To keep the Premises secure at all times and to give the Society prior notice if the Premises is to be left unoccupied for a period for more than 4 weeks and to take such steps as the Society reasonably then require.

Assignment

Not to assign this Lease at any time during the Term except:

4.19.1.1 to a person who shall acquire a minimum of % Equity Share in the Premises, valued in accordance with Schedule 5.

4.19.1.2 by disposing of all the Member’s Equity Share either to other Members of the Society or to the assignee.

4.19.1.3 without the assignee entering into a deed of covenant with the Society to observe and perform the lessee’s obligations in this Lease.

4.19.1.4 Otherwise in accordance with the provisions of Schedule 5

The value of the equity shares sold by the Member on any assignment shall be calculated in accordance with the Value of Equity Shares formula in Schedule 5.

Other members of the Society or the Society itself may at its or their discretion acquire any equity shares owned by the Member which are not acquired by the assignee.

Dealing

Not to underlet, charge, mortgage, share or part with possession the whole or any part of the Premises.

Within one month of any assignment, or other dealing with the Member’s interest in the Premises to give notice of it together with a certified copy of the document effecting the assignment or devolution to the Society and to pay a reasonable fee to the Society for the registration of the notice.

Prevent loss of easements

To do such acts and things as may reasonably be required by the Society to prevent any easement or right belonging to or used with the Premises from being obstructed or lost and not knowingly to allow any encroachment to be made on or easement acquired over the Premises and in particular not to allow the right of access of light from or over the Premises to any neighbouring Premises to be acquired.

Observe registers of title and the transfer

The Member with the object and intent of affording to the Society a full and sufficient indemnity covenants with the Society that the Member and its successors in title will perform and observe all the covenants agreements restrictions stipulations provisions and conditions and other matters contained or referred to in the registers of the Society’s title to the Premises (save those relating to mortgages or charges) and to indemnify and keep indemnified the Society from against all actions claims demands losses costs expenses and damages and liability in any way relating to any non-observance or non-performance thereof;

Comply with Regulations

The Member will at all times comply with such reasonable regulations as the Society may make from time to time and considers necessary or desirable for the purpose of securing the safety orderliness or cleanliness of the Development (or any part of it) or the comfort and convenience of the members of the remainder of the Development or the efficient and economical performance by the Society of its obligations under this Lease;

Indemnify the Society

To indemnify the Society from and against legal liability of all loss damage actions proceedings claims demands costs damages liability and expenses in respect of any injury to or the death of any person or damage to any Premises moveable or immovable or the infringement disturbance or destruction of any right easement or privilege or otherwise by reason of or arising in any way directly or indirectly out of the state repair condition existence or any alteration to or on to the user of the Premises or anything now or hereafter attached to or projecting from the Premises and from all proceedings costs claims and demands of whatsoever nature in respect of any such liability or alleged liability

Further Member Covenants

To remain a member of the Society throughout the Term.

To receive an allocation by way of Equity Shares (as defined in Schedule 5) on the date hereof and (if an assignee) to take an assignment of this Lease.

To receive an allocation or allocations of additional Equity Share or Equity Shares in the Premises in accordance with the Equity Share Scheme in Schedule 5 when required by the Society.

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