Drafting Memorandums of Lease, Work Letters, Exclusive Uses, and CAM

Limiting Liability for Landlords and Tenants in Options to Purchase and Rights of First Refusal

Recording of a 90-minute premium CLE video webinar with Q&A

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Conducted on Thursday, August 18, 2022

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Course Materials

This CLE webinar will advise landlord and tenant counsel on drafting specific provisions of a commercial lease that are often ignored. The panel will address when and what to include in memoranda of a lease, aspects of utilizing a memorandum that can protect the tenant, and how a landlord can mitigate risks to the title once recorded. The panel will also provide advice on drafting brief, but comprehensive work letters, how to incorporate enforceable exclusive use provisions, and minimum requirements for a common area maintenance provision.

Description

Although commercial leases are often lengthy and over-detailed, there are often exhibits to the lease that are vitally important. Landlord and tenant attorneys need to consider what is included in a memorandum of lease--the recorded, short-form document used to alert third parties to a tenant's interest in the property. Properly worded memoranda of the lease will provide the tenant with certain protections, such as exclusive use in multi-tenant facilities, and ensure that the landlord's title is not clouded.

Work letters also need particular scrutiny to accurately describe each party's responsibilities during the construction process. The landlord and tenant must determine who is funding and controlling the property's buildout and answer questions related to design and permitting, construction contracting and supervision, scheduling delays, and change orders.

Common area maintenance provisions in multi-unit and mixed-use properties can be extensive and complex. Counsel for landlords and tenants must consider how future costs should be calculated to address unexpected needs.

Listen as our expert panel discusses memorandums of the lease, work letters, and CAM provisions in commercial leases. The panel will discuss best practices when drafting these particular aspects of leasing.

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Outline

  1. Commerical lease exhibits and provisions
    1. Memorandums of lease
      1. Landlord considerations
        1. Clouded title
      2. Tenant considerations
    2. Work letters
      1. Design and permitting
      2. Construction contracting and supervision
      3. Scheduling delays
      4. Change orders
    3. CAM
  2. Best practices

Benefits

The panel will discuss these and other important topics:

  • How can a memorandum of lease protect the landlord's and tenant's interests?
  • What are the most significant issues in a work letter for the landlord? For the tenant?
  • How can CAM be determined to address the potentially catastrophic needs of the property?

Faculty

Woodard, Larry
Larry N. Woodard
Co-Leader, Construction Planning Practice Group
Honigman

Mr. Woodard is an experienced attorney who focuses his practice on real estate law. He represents Fortune 500...  |  Read More

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