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In the Spotlight: Things to Think About During Review of a Lease
To review another party's form commercial retail lease adequately and completely, one must analyze all the attached exhibits. You cannot stop your review at the signature block.
The question one needs to consider is whether the exhibits to the lease either supplement the lease or potentially modify its terms and conditions. The answer to this question will ultimately be of value during the term of the lease, when the lease terms and conditions are being administered.
In an article that ran in January 2007, we discussed the following 'standard' exhibits: 1) legal description; 2) site plan; 3) landlord and tenant work letter, and 4) memorandum of lease. While there are almost an infinite number of exhibits that one could attach to a lease form, certain exhibits are more common than others in the commercial real estate context.
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Major Differences In UK, U.S. Copyright Laws
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Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?