Show 9 Of lON TERM DURATION Sf STANDARDIZED Realtors of Nation Plan Uniform Outline to In making a n long term lease how can ean both the owner and the tenant be sure that every ramification and md condition contributing to the value alue of that property Is considered when h n the lease is drawn and that the agreement covers every question which may arise in regard to the the- property while it Is under th the tho long term terz l lease Do both the owner and the tIe tenant have available a a. complete com corn picture of ot the provisions coverIng covering cov coy ering the new build building Ins fire clauses clause taxes security condemnation right to asI assign ns n maintenance and care of ot the buildings repairs insurance and sonic some forty Corty other phases of the agreement which should be bo settled definitely in the long term lease 7 It Is la to give such a panoramic picture of the long term terra lease to the owner of the property to the tenant leasing the property to the real rel es estate estate estate es- es tate broker negotiating the lease and to lawyers and appraisers consulted con con- suited concern concerning In the property that the brokers' brokers division of ot the National Nation Nation- a al Association of Real Heal Estate Boards has prepared and adopted adopt cd a n. standard standard standard stan stan- dard outline of ot data for the agreements agreements agree agree- ments mente entered into in cre creating Belling selling sell Bell ing or appraising appraising- long long- term leases This st standard nd rd outline which represents represents represents more than a a. year ear of research and work on the part of or a a. committee composed of men who have havo had extensive experience in dealing with long term leases was officially approved approved approved ap ap- ap- ap proved b by the board of directors of the national association at at the r re recent recent re- re cent Toronto convention The outline e providing as it does for the presentation of comprehensive sive sl and detailed data on the lease while It It Is IB not hot a legal lesal agreement makes it possible to assemble aUthe all aU the facts relative to the thc lease le-ase and to tobe tobe tobe be certain that no information germane germane sermane ger ser mane to the negotiation has been omitted according to Mark Le Levy Chicago chairman of the brokers' brokers division Copies of ot the a agreement form torm have been placed in the ha hands hads ds of every member of ot the brokers' brokers division Mr Levy announced Harold L L. Reeve Ree Chicago was wa was I chairman of or the committee which drew up th the tho standard outline Other members or the committee were Frazier O. O Reed San Jose Cal Cn John J. J Wagner Cedar Rapids la Ia and Harold D. D Hayward Tacoma Wash |