New Jersey Administrative Code
Title 6A - EDUCATION
Chapter 26 - EDUCATIONAL FACILITIES
Subchapter 10 - LEASE PURCHASE AND LEASE AGREEMENTS
Section 6A:26-10.5 - Contents of ground lease

Universal Citation: NJ Admin Code 6A:26-10.5

Current through Register Vol. 56, No. 6, March 18, 2024

(a) A ground lease shall contain the following provisions:

1. A legal description of the land;

2. Lease of the land and the term of the lease;

3. A warranty that the district board of education has good and marketable title to the land;

4. A warranty that the land is properly zoned for school purposes including the proposed project;

5. A warranty that the leased land and current land uses comply with all local, State, and Federal environmental laws;

6. Termination; and

7. Use of land.

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