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Unfortunately, many lawyers hired to review commercial leases confine their representation to a cursory review of the Lease and Rider, and typically Good-Guy Guaranty, and tell their client where to sign and advise them how much it will cost in terms of the first month’s rent, and security deposit, and maybe give them some insight into the Good-Guy Guaranty, which of course, are all very important.
At the Law Firm of Steven R. Sutton, we take a very aggressive approach to commercial lease review, and utilize the “Memorandum Method”, an approach devised by founding attorney, Steven R. Sutton, in which a Memorandum of Objections is generated by our office, and following review by the client is forwarded to the Landlord’s counsel.
One benefit of this technique is to save hours of “talk-time” first with the client his or herself, and then with the attorney for the Landlord. Second, the Memorandum prepared takes a very aggressive approach at eliminating many unfair provisions often contained in Landlord’s proposed Leases such as “Conditional Limitations” and Notice Provisions whereby your commercial lease can be terminated simply by sending a notice to the Tenant without even litigating the issue involved.
We are supremely careful, as purchasers, when responding to “Time of the Essence” clauses, or provisions for “All Cash” purchases, and when reviewing the provisions to which the purchase is “subject to”, “As Is” clauses, or the exclusion of the phrase “or on about” when a seller is setting a date for closing. Certainly, we will want, ideally, to make the sale subject to your obtaining a mortgage which is satisfactory to you, within a reasonable time, and setting a closing a reasonable time after that.
We are careful and thorough when reviewing relevant sections of a Condominium Plan or Cooperative Plan so the purchaser is not “hooked into”an unfair purchase, or provisions of such Plans that make it difficult for a Unit Owner to get proper services. We will expect and demand, as a purchaser, adequate time to obtain and review title reports and violation reports, and will be sure to protect you, a buyer, from Violations or “Exceptions to Title”, that are unfair or that should not be a purchaser’s responsibility.
We work with an excellent and expert Title Company and will quickly obtain necessary title and municipal reports, and will thoroughly review them and communicate issues with alacrity with Seller’s counsel, with a view to dealing with title or other issues efficiently. And we will be sure to secure adequate time to obtain a Termite Inspection and make the Seller appropriately responsible for such condition or any other undesirable condition.
In short, we will fight hard for a fair deal on your behalf as a buyer!
We also take a very aggressive approach with respect to “recapture” provisions set forth in proposed Good-Guy Guaranties, whereby Landlordsare attempting upon the proper exercise of a Good-Guy Clause termination to “recapture” many proper monetary concessions given by the Landlord upon lease execution, such as “free rent”, and even try to get back brokerage commissions from the Tenant upon such proper exercise of the termination clause set forth in the Good-Guy Guaranty.
At the law office of Steven R. Sutton we take a very aggressive approach to Commercial Lease Review and attempt to get a “Clean Break” upon exercise of a Good-Guy termination, and fight against inappropriate “recapture” provisions inserted into such clauses, as well as “Notice Termination” and “Conditional Limitation” provisions included in proposed commercial leases by over-aggressive Landlords and their counsel.
Contact the Law Office of Steven R. Sutton immediately upon receipt of a proposed Commercial Lease so that we give you fair and thorough representation and attempt to “bend back” inappropriate pro-landlord provisions such as these and make all efforts to secure a fair and reasonable commercial lease for you and your business.
Call us today to schedule an appointment to discuss your case with us.
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