Common use of General Lease Terms Clause in Contracts

General Lease Terms. 1.1. We agree to grant you a long term right to exclusively occupy the Property and House by way of a lease of the Property (including the House) to you for 100 years from the Start Date on the terms set out in this Agreement. 1.2. You and your family can live at the Property without interference from us provided you comply with this Agreement. 1.3. The Property can only be used as your family home. 1.4. You may not rent out nor part with any part of the Property (including on a night by night basis) for more than 28 days per annum, unless approved by us. 1.5. If both of you die then we may implement clause 9 below. 1.6. If you separate then we may implement clause 9 below. 1.7. We can inspect the Property at any time provided we give you 48 hours advance warning. In the case of an emergency we can inspect the Property without advance notice. 1.8. We may engage a Related Party or its nominee to manage the Property and our rights under this Agreement on our behalf. 1.9. If we have reason to believe or suspect that there may be illegal substances manufactured or used on the Property then we have the right to arrange for a property inspection or testing with 24 hours’ notice to you. If that inspection shows illegal substances then we may implement clause 9.1 below. 1.10. The Residential Tenancies Act 1986 does not apply to this Agreement or your occupancy of the Property by virtue of Section 5(1)(x) of that Act. 1.11. For clarity, we acknowledge that your rights under this Agreement constitute an “estate in land” for the purposes of the KiwiSaver scheme rules in Schedule 1 of the XxxxXxxxx Xxx 0000 as at the date of this Agreement.

General Lease Terms. 1.1. We agree to grant you a long term right to exclusively occupy the Property and House by way of a lease of the Property (including the House) to you for 100 years from the Start Date on the terms set out in this Agreement. 1.2. You and your family can live at the Property without interference from us provided you comply with this Agreement. 1.3. The Property can only be used as your family home. 1.4. You may not rent out nor part with any part of the Property (including on a night by night basis) for more than 28 days per annum, unless approved by us. 1.5. If both of you die then we may implement clause 9 below. 1.6. If you separate then we may implement clause 9 below. 1.7. We can inspect the Property at any time provided we give you 48 hours advance warning. In the case of an emergency we can inspect the Property without advance notice. 1.8. We may engage a Related Party or its nominee to manage the Property and our rights under this Agreement on our behalf. 1.9. If we have reason to believe or suspect that there may be illegal substances manufactured or used on the Property then we have the right to arrange for a property inspection or testing with 24 hours’ notice to you. If that inspection shows illegal substances then we may implement clause 9.1 below. 1.10. The Residential Tenancies Act 1986 does not apply to this Agreement or your occupancy of the Property by virtue of Section 5(1)(x) of that Act. 1.11. For clarity, we acknowledge that your rights under this Agreement constitute an “estate interest in land” for the purposes of the KiwiSaver scheme rules in Schedule 1 of the XxxxXxxxx Xxx 0000 as at the date of this Agreement.

General Lease Terms. 1.1. We agree to grant you a long term right to exclusively occupy the Property and House by way of a lease of the Property (including the House) to you for 100 years from the Start Date on the terms set out in this Agreement. 1.2. You and your family can live at the Property without interference from us provided you comply with this Agreement. 1.3. The Property can only be used as your family home. 1.4. You may not rent out nor part with any part of the Property (including on a night by night basis) for more than 28 days per annum, unless approved by us. 1.5. If both of you die then we may implement clause 9 below. 1.6. If you separate then we may implement clause 9 below. 1.7. We can inspect the Property at any time provided we give you 48 hours advance warning. In the case of an emergency we can inspect the Property without advance notice. 1.8. We may engage a Related Party or its nominee to manage the Property and our rights under this Agreement on our behalf. 1.9. If we have reason to believe or suspect that there may be illegal substances manufactured or used on the Property then we have the right to arrange for a property inspection or testing with 24 hours’ notice to you. If that inspection shows illegal substances then we may implement clause 9.1 below. 1.10. The Residential Tenancies Act 1986 does not apply to this Agreement or your occupancy of the Property by virtue of Section 5(1)(x) of that Act. 1.11. For clarity, we acknowledge that your rights under this Agreement constitute an “estate in land” for the purposes of the KiwiSaver scheme rules in Schedule 1 of the XxxxXxxxx Xxx 0000 KiwiSaver Act 2006 as at the date of this Agreement.