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Exhibits: Details and Timing
The first part of this article discussed the purpose of, need for and some of the items included in, the exhibits to a lease. The conclusion herein addresses finalizing the lease and the exhibits.
Mesh the Lease with the Exhibits
Once you have the construction exhibit input (including permitting and governmental approval processes), you need to review the lease and make sure the exhibit and the lease document mesh for purposes of concepts, timing, and definitions. Depending on the input received and the timing of that input, you may not be able to coordinate the lease with the exhibit when the first draft goes out, but try to “mesh” the two documents as soon as possible, taking into consideration the timing of comments from the other side and responsibilities for redrafting the lease document. Efficiency in the hours spent is always a consideration but sometimes it pays to undertake constant review and updating to “mesh” the lease with the exhibits. Last, always attempt to get a “sign-off” on the construction exhibit from your client's construction group prior to execution of the lease.
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