Restaurant Non-Binding Letter of Intent
[Date]
[Landlord's Name]
[Landlord's Address]
Subject: Non-Binding Letter of Intent for Leasing Premises
Dear [Landlord's Name],
We, [Your Company Name], are writing to express our interest in leasing the premises located at [Property Address], [City, State, ZIP Code] for the purpose of operating a restaurant. This letter of intent is non-binding and is intended to outline the preliminary terms and conditions for our potential lease agreement.
Premises: The exact dimensions and location of the premises are as described in the attached Exhibit A.
Term: We are interested in a lease term of [number] years, with the option to renew for an additional [number] years subject to mutually agreeable terms.
Rent: We propose a monthly rent of [amount] per month, subject to adjustments based on standard market practices and conditions. Additionally, we would request a grace period of [number] months for rent-free occupancy to accommodate setup and opening procedures.
Use of Premises: The premises will be used exclusively for operating a restaurant, including, but not limited to, the preparation and sale of food and beverages, seating and dining areas, and related activities.
Improvements and Modifications: We intend to make certain improvements and modifications to the premises to suit our operational requirements. In connection with this, we request an allowance for tenant improvements that adequately reflects the scope and scale of the restaurant operations we intend to undertake. Specifically, we propose an allowance of [specified amount] per square foot to cover costs associated with kitchen fit-outs, interior design, HVAC upgrades, and compliance with local health and safety regulations. Additionally, we would appreciate it if the lease terms could accommodate a structured disbursement of the improvement allowance, beginning with the commencement of the lease term and concluding upon completion of the improvements, to ensure a seamless operational transition.
Deposit: We propose to pay a security deposit equivalent to [amount], which will be held in accordance with state and local laws.
Signage: We will require the right to install signage that is visible and consistent with our brand image, subject to your approval and in compliance with local zoning laws.
Confidentiality: Both parties agree to keep the terms of this letter and all related negotiations confidential until a formal lease agreement is executed.
Please note that this letter is intended as a preliminary expression of interest and does not constitute a contractual obligation to lease the premises. We look forward to discussing these terms in more detail and moving forward with a formal lease agreement should our respective requirements align.
Thank you for considering our proposal. Please feel free to contact us at [Your Company Number] or [Your Company Email] to schedule a meeting to further discuss this opportunity.
Sincerely,
[Your Name]
[Your Position]
[Your Company Name]
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