Your company, XYZ Realty, owns a small strip mall located at 222 River Highway in Des Plaines, Illinois 60016. There are 3 commercial stores in this mall. Each store is 50x50 square feet (so, each is a little bigger than a 3-car garage). There is a parking lot located on your property, located directly in front of the stores, with a total of 13 parking spaces. Two of these spaces are reserved for handicap parking. Each parking space is the exact same size and each will easily fit a large-size SUV. ABC Tee Shirt, Inc. wants to rent a storefront from you. To date, you have no other tenants in the mall. ABC Tee Shirt wants to rent out the middle store (Unit 2). In this store they will sell their very popular graphic tee shirts. They want a 2-year lease and they want 2 parking spots reserved solely for their customers. You are to prepare a commercial lease for this business transaction. As a business person, you need to be forward thinking and you should include relevant terms such as parking spaces, snow removal, subletting, etc. in the lease.

You must include an Alternate Dispute Resolution Clause in the lease

Please also solve:

Question 1 (worth 5 possible points):

What type of Alternative Dispute Resolution did you choose to include in the lease? Why did you choose this type of Alternative Dispute Resolution?

Question 2 (worth 5 possible points):

What are some reasons as to why you are providing a written lease, instead of a verbal lease, for this property?

Answer rating: 100% (QA)

Alternate Dispute Resolution Clause in the lease 1Alternative Dispute Resolution A question goal provision will limit the chance of a debate misconcep... View the full answer