• Tenant Name: Legal Name and D/B/A Name (if applicable)
  
• Documents Abstracted: Inventory of documents abstracted, including document name, date and a brief description of document contents.
  
• Suite Number/Floor
  
• Commencement & Expiration Dates
  
• Square Footage: Includes document(s) which added square footage and commencement/expiration dates for all space leased by tenant.
  
• Base Rent and Rent Abatements: Reflects monthly amounts per lease documentation (if available)
  
• Rent Escalations (CPI Adjustments &/or Porter’s Wage Adjustments): Includes definition of index (wage), base index (wage), comparison date adjustment date and description of floor/cap.
  
• Expense Recoveries: Includes expense groups to be recovered, recovery mechanics (net or gross), base year &/or base stop as provided in the lease documentation (if applicable), pro-rata shares, gross-up percentages, recovery caps/floors and non-standard exclusions from recovery pools (nonstandard exclusions include the ability to pass through or not pass through capital improvements, caps on management fees, the ability to pass through costs of asbestos abatement and/or to comply with the Americans With Disabilities Act and limits on taxes due to reassessment from sale).
  
• Percentage Rent (Retail Tenants Only): Includes overage percentage, breakpoint, reporting date(s), payment date(s) and recaptures.
  
• Subleases: If any portion of tenant’s space is subleased and tenant remains primarily liable to Landlord, includes name of subtenant, commencement and expiration date of sublease and description of space (location and size) subleased.

• Expense Recoveries
  
• True-Up Provisions: Includes date(s) by which LL must complete true-ups and consequence to LL if such date(s) are not achieved, whether true-up must include a detailed statement of recoverable expenses, whether true-up statement must be audited, and whether LL or Tenant is required to pay interest on overpayment/underpayment of estimated expenses.
  

• Tenant Audit Rights: Does Tenant have the right to audit LL’s annual statement of recoverable expenses (both tax and operating), who is responsible for the cost of the audit and in what time frame must Tenant commence and/or complete audit
  
  
  

Options & Encumbrances (Recommend including on all abstracts)

• Renewal Options: Includes renewal term, notice requirements, whether option is automatic and rent.
  
• Expansion/Contraction Options: Includes effective date, description of encumbered space, notice requirements, whether option is automatic, contraction fee, tenant allowance, rental terms, and whether option is independent of prior option(s).
  
• Termination Options: Includes effective date, notice requirements, termination fee amount and timing of payment, and, if applicable, special conditions that give rise to option to terminate.
  
• Relocation Options: Includes notice requirements, new premises requirements and responsibility for payment of relocation costs.
  
• Rights of First Offer/Refusal: Includes notification requirements, description of encumbered space, whether option is a one-time right or continuous, rental terms, whether option is subject to rights of other tenants and any other information necessary to understand the option.
  
• Purchase Options: Includes notification requirements, effective date and purchase price agreement.
  
  

• Sublease/Assignment: Includes LL consent requirements and exceptions to consent, if any, LL recapture/termination rights and provisions for sharing of sublease profits
  
• Security Deposits: Includes type (cash or letter of credit) and amount of deposit, whether deposit is interest bearing or non-interest bearing, scheduled reductions in deposit amount (if any) and substitution rights (if any)
  
• Guarantors: Includes Guarantor(s) name, type (corporate vs. personal) and amount of Guaranty, scheduled reductions or additions (if any) & expiration (if applicable)
  
• Use Clause/Exclusivity /Restrictions on Use: Includes description of how tenant may use the leased premises, whether tenant is the only tenant who can lease space in the building for a particular use and whether tenant is restricted from using the space for a particular use
  
• Parking Provisions: Includes number and location of spaces, whether spaces are reserved vs. non-reserved, rent to be paid for parking spaces, Tenant notification requirements to take spaces (if any), effect of nonpayment and/or forfeiture on Tenant’s future rights to said spaces and provision for additional spaces if tenant exercises an option to expand
  
• Tenant Allowances: Includes amount (if unspecified, then the scope of LL’s required work), timing (including future allowances), limitations on usage of allowance and treatment of any unused allowance
  
• Tenant Signage Requirements: Includes rights of tenant to lobby signage, signage on exterior of building and signage on pylon or other monument signs (excludes interior suite, elevator lobby [for full floor tenants] and directory strip signage)
  
• Hazardous Materials: Description of Tenant and LL obligations (including description of activities which either party is prohibited from performing) to comply with environmental laws
  
• Retail Items
  - Go Dark/Co-Tenancy
  - Merchant Association Dues
  - Marketing/Media/Promotion Charges
  
• Utilities and Other Charges: Includes amount (if stated), method of payment (paid directly vs. paid to LL) and meter/submeter vs. other allocation method
  
• Electricity
  
• HVAC
  
• Water
  
• Overtime HVAC
  
• Supplemental Air Conditioning/Condenser Water
  
• Freight Elevator
  
• Special Services to Tenant (i.e. usage of common conference room, audio/visual facilities and health club): Includes description of service, charge for service and frequency of service, if applicable
  
• Tenant Default: Number of days to cure monetary and non-monetary tenant default, and whether LL is required to notify Tenant before default provisions apply
  
• Subordination/Non-Disturbance: Includes whether lease is subordinate or superior to existing and/or future lien holders and whether a Non-Disturbance Agreement is required from existing and/or future lien holders.
  
• Holdover: Includes holdover rate and whether a holdover provides LL with an automatic extension option (and the terms thereof)
  
• Late Fees & Interest: Includes amount &/or rate, number of grace days and notice requirements, if any
  
• Estoppel Provisions: Includes number of days to respond to request, whether the requirement is mutual upon Tenant and LL, and whether the estoppel certificate must be prepared in accordance with a lease exhibit
  
• Future Leasing Commissions: Includes Tenant/LL Broker names, amount of each future commission and responsibility for payment
  
• Exculpation of LL (limitation of LL’s personal liability to Building assets): Includes whether exculpation language is included in the documents and nonstandard liability carveouts, if any
  
• LL Supervision Fees: Includes description of fees to be paid to LL for supervision of repairs and alterations, and a description of exclusions for which a fee shall not be payable
  
• Tenant Insurance Requirements: Includes type of insurance, amount of required coverage for each type and self-insurance provision, if applicable.
  
• LL Insurance Requirements: Includes type of insurance, amount of required coverage for each type and self-insurance provision, if applicable.
  
• Tenant Notice Address: Includes name and address of all tenant contacts to whom LL is required to provide notice.
  
• Notice Delivery Requirements: Includes methods of required and accepted deliveries of notifications
  
• Retail Items -
  - Radius Restrictions
  - Business Hours
  - Sales Reporting Requirements
  - Percentage Rent Payment Requirements
  - Exclusions from Gross Sales Reporting (non standard only)
  - Landlord Audit Rights
  - Retention of Books and Records Regarding Tenant Sales
  - Sales Year Definition
  - SIC Codes

* This checklist has been prepared by Realogic Software, Inc., and is only a general guide. Abstracts should be prepared and maintained based on each companies unique needs and goals. This guide should not be used in lieu of qualified professional and/or legal advice & counsel.