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Unique Lease Issues: Drafting Lease Memorandums, Work Letters, Exclusive Uses, and CAM Provisions

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

A live 90-minute premium CLE video webinar with interactive Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Thursday, April 25, 2024 (in 3 days)

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

or call 1-800-926-7926

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. Commercial 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

Nevin, Caitlin
Caitlin Nevin

Attorney
K&L Gates

Ms. Nevin represents real estate clients across an array of transactions, including acquisitions, disposition,...  |  Read More

Woodard, Larry
Larry N. Woodard

Partner
K&L Gates

Mr. Woodard has experience in virtually every facet of real estate law, representing such diverse clients as Fortune...  |  Read More

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You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. Strafford will process CLE credit for one person on each recording. All formats include course handouts.

To find out which recorded format will provide the best CLE option, select your state:

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