COMMERCIAL HANDOVER AND POSSESSION MEMO WITH SNAG LIST

Executed at __________ on __________.

Parties

Background

B. The Parties have jointly inspected the Premises on the date of handover and record in this Memo the fact of handover, the condition of the Premises, the meters, keys and access devices handed over, and the snag list agreed between them.

1. The Premises

2. Handover

2.3 This clause and clause 3 below are a contemporaneous record of what both Parties saw and agreed at the joint inspection referred to in Background B, signed on the day of handover.

3. Condition, meters, keys and access

4. Snag list and rectification

4.3 Nothing in this clause 4 affects a defect that was not visible on a reasonable inspection at handover and comes to light later; the Parties' rights about such a defect are governed by the Lease and not by this Memo.

5. General

5.1 This Memo records facts and promises about the physical handover of the Premises. It does not vary the Lease, and where this Memo and the Lease conflict on rent, term, use or any matter other than the condition and manner of handover recorded in clauses 2, 3 and 4, the Lease governs.

5.2 Signing this Memo is not a waiver by the Tenant of a right or a claim under the Lease that this Memo does not expressly settle, and is not an admission by the Landlord of anything beyond what clauses 2, 3 and 4 record.

5.3 This Memo is governed by the law in force in __________, and only the courts having jurisdiction at __________ may decide a dispute about it.

5.4 A notice under this Memo is given in writing, by hand or by email, to the address or email given for the other Party above.

Signatures

Witnesses

Witness 1
Signature: ____________________
Name: ____________________
Address: ____________________

Witness 2
Signature: ____________________
Name: ____________________
Address: ____________________