Commercial Lease Letter of Intent (Single-Tenant) - Alaska

LETTER OF INTENT — SINGLE-TENANT COMMERCIAL LEASE (ALASKA)

Before you use this: This is a proposal for a lease of the whole identified property. Alaska's AS 34.03 chapter addresses dwelling-unit rentals; its residential tenant rules are not used as terms here. AS 09.25.010(a)(6) requires a writing subscribed by the party charged for an enforceable lease longer than one year. Identify any terms intended to bind the parties now in Section 8.

LOI date: [__/__/____]
Response requested by: [__/__/____]

Landlord: [LEGAL NAME, ENTITY TYPE, ADDRESS, EMAIL]
Prospective tenant: [LEGAL NAME, ENTITY TYPE, ADDRESS, EMAIL]

The parties propose to negotiate a definitive commercial lease for the Property described below. Sections 1 through 7 record proposed lease terms only. Neither party grants possession or promises to enter a lease by signing this LOI. Section 8 states the terms, if any, the parties intend to bind them upon signature.

1. Whole property and use

The proposed lease will identify any shared road, utility, or service serving the Property and the party responsible for it. No exclusivity beyond the described property is proposed unless written here: [________________________________].

2. Term, rent, and security

If delivery depends on work, the lease will define the work, objective completion evidence, delay extensions, outside date, and any agreed remedy. This LOI itself gives no automatic rent credit or termination remedy.

3. Whole-property costs and maintenance

Specify how a shared service will be metered or allocated, what records support charges, and whether a cost cap or audit right is proposed: [________________________________].

4. Alaska site and operational matters

The lease negotiations will address these property-specific facts and allocate responsibility where relevant:

A listed matter is a diligence item, not a representation that a particular hazard, code rule, or insurance requirement applies to this Property.

5. Work, alterations, and permits

The definitive lease will address access during work, contractor insurance, damage, change orders, and the effect of delay. No work or reimbursement obligation arises from these proposed terms alone.

6. Lease documents and conditions

The parties propose to review: ☐ title and recorded interests ☐ property condition ☐ environmental reports ☐ zoning and permitted use ☐ financing consents ☐ existing service contracts ☐ insurance terms ☐ other: [____________].

The proposed lease will address assignment and subletting, default and cure, casualty, condemnation, holdover, notices, and surrender. Special negotiated point: [________________________________].

7. Negotiation schedule

Each party bears its own negotiation costs unless a binding term below states otherwise. A broker fee is payable only under a separate agreement with the person responsible for it.

8. Binding LOI terms, if selected

Only the following checked terms are intended to bind the parties when both sign this LOI; unchecked terms do not bind them.

☐ Confidentiality. Until [__/__/____], each party will use the other's nonpublic transaction information only to evaluate this proposal and disclose it only to advisers, lenders, and personnel who need it, subject to legal or already-public information exceptions.

☐ Exclusive negotiation. Until [__/__/____], Landlord will not solicit or negotiate a lease of the identified Property with another prospective tenant. This restriction ends earlier if either party gives written notice ending negotiations.

☐ Access for diligence. Landlord will permit reasonable, scheduled, noninvasive access through [__/__/____]. Invasive testing requires separate written consent and insurance terms. The visiting party will repair physical damage it causes.

☐ Other binding term (attach exact text and expiry): [________________________________].

These binding terms are governed by Alaska law. Any dispute about them may be brought in a court with jurisdiction in Alaska. Notices under Section 8 go to the party addresses above by personal delivery, tracked mail, or acknowledged email. The proposed lease terms remain subject to a separately signed definitive lease.

LANDLORD: [LEGAL NAME]
By: [________________________________]
Name and title: [________________________________]
Date: [__/__/____]

PROSPECTIVE TENANT: [LEGAL NAME]
By: [________________________________]
Name and title: [________________________________]
Date: [__/__/____]

Sources and References

• Alaska Statutes § 09.25.010(a) (writing and signature for covered lease agreements).
• Alaska Statutes § 34.03.010(b)(1) (dwelling-unit chapter purpose).