Sec. 297. Synopsis or outline for a ground-rent lease:
1. Date, names and residences of parties, lessor, or party of the first part, lessee, or party of the second part.
2. Witnesseth, that, lessor, in consideration of rents and covenants to be paid, kept, performed and fulfilled on part of lessee, does demise and lease unto lessee the premises, situate in City, County and State (description).
3. Habendum (to Have and to Hold), see Form No. 124, "Yielding and Paying," etc. (Where the rent is payable monthly in advance for a number of years, it is the custom, in some instances, to require the rent for the first month and for the last month of each year, to be paid in advance at the beginning of the year, for the better assurance of the lessor; and this can be provided for in the lease, if desired).
4. Rent reserved is to be paid in standard gold coin of the United States; dollar defined as containing at least 25.8 grains of gold of standard weight and fineness observed at mints of United States at date of lease; acceptance by lessor of currency, legal tender, checks, coin, money or value whatever, except standard gold coin for any installment of rent shall not be waiver of his right to demand gold coin in payment of any other installment or installments.
5. As a further consideration, lessee further covenants to pay and discharge, in addition to said rent, all rates, taxes, charges for revenue, assessments and levies, general and special, ordinary and extraordinary, including water rates, electric light and gas rates, assessed, levied or imposed on said premises, or upon any and all buildings thereon, during said demised term, commencing with the taxes for the fiscal year........; same shall be made in the name of lessor, be paid at least five days before delinquency, and duplicate tax receipts therefor delivered to lessor.
6. Lessee agrees to erect, finish and complete, at his own cost and expense, upon said premises, a (here describe building) and have the same completed and ready for occupancy and fully paid for by...............................................
Said building shall be erected under the inspection and to the satisfaction of the Building Superintendent of the City of.........
............................ Said building shall cost at least
............. dollars; plans and specifications therefor shall be approved by lessor as to general design, method of construction, strength of materials and cost of building. If lessor shall not approve plans and specifications submitted to him, they shall be submitted to a board of three architects, one to be appointed by lessor, one by lessees, and the two so appointed to select a third; a majority report of said board on said plans and specifications shall be final, and the building shall be erected in accordance therewith. If the plans and specifications are not so approved by said board, then further plans and specifications must be prepared and submitted in like manner.
7. Covenant that there shall be no mechanics' liens upon any building or improvement which shall be upon said premises; but if there should be, lessee must pay off same, and if default in payment thereof shall continue for thirty days, lessor may pay off same, and the amount so paid, including expenses, shall be so much additional rent payable at the next rent day, with interest thereon at the rate of seven per cent per annum; or lessor may, at his option, terminate the lease; and if lessor shall conclude or determine that his estate may or might suffer injury or damage by reason of the filing of any lien or suit to foreclose the same, he may require lessee to give bond.
8. Covenant that the premises shall not be used for any immoral or unlawful purposes; and that said lessee will indemnify and save harmless lessor from any loss, damage or expense arising out of any accident or other occurrence causing injury to any person or property, and due directly or indirectly to use of said premises by said lessee, or any person holding under him.
9. Covenant as to removing or tearing down buildings only upon written consent of lessor and upon the following condition precedent being first fulfilled: Lessee shall first execute and deliver to lessor a contract, guaranteed by two good and sufficient sureties, agreeing to pay lessor.........................dollars within two years of the date thereof, said contract to provide that inasmuch as it is impossible to determine upon the exact damages and injury which lessor will suffer by reason of the failure of lessee to construct a building or buildings upon said premises within said two years, said sum of.....................dollars shall be considered as liquidated damages, and lessee shall be estopped from asserting same as a penalty; or lessee, if he elects, may, in lieu of sureties, deposit....................dollars with
.........................Trust Company upon the conditions above mentioned.
10. Covenant as to insurance. See Form No. 144.
11. Covenant as to owner's right to post notices. See Form No. 145.
12. Covenant as to appraisal of buildings. See Form No. 146.
13. Lessor's warranty. See Form No. 147.
14. Covenant to pay rent. See Form No.148.
15. Covenant not to assign lease or sublet premises. See Form No. 149.
16. Heirs and assigns bound. See Form No. 150.
17. Testatum clause.
Study Sections 109 to 121, inclusive, of Text Book.