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- Eliminate Personal Guaranty - The Landlord can look only to the Lessee entity in case of default.
- Eliminate Spouse from Guaranty - The Landlord can look only to the individual guarantor, and may not be able to attach assets which are owned jointly between spouses.
- Limit Personal Guaranty to a fixed time period - The guaranty expires after said period.
- Limit Personal Guaranty to a fixed dollar amount - This creates a maximum cap for which the guarantor is liable.
- Obtain a "kick-out" clause at any time if a penalty payment is made by Tenant. - Tenant can pay a penalty to Landlord and break the Lease, rather than be responsible for the full term.
- Obtain a "kick-out" clause after a certain time frame. - Same as above, but only available after a set time frame.
- Obtain a "kick-out" clause based on possible future problems such as parking.- Tenant has right to break lease if certain acts occur which are detrimental to Tenants occupancy.
- Strike the Non-ASSIGNABILITY. - Make assigning the Lease to a partner or purchaser a possibility.
- Increase broadness of Use Clause. - Allows Tenant flexibility in how they operate their business, ability to add or delete products and services.
- Get as many options as possible with the longest terms possible. - Gives Tenant control over the space, protects against increasing rents.
- Limit Common Area Maintenance (C.A.M.), Taxes and Insurance increases to a certain % per year. - Limits Tenant's potential liabilities.
- Eliminate Space Substitution (relocation) Clause. - Transfers more control from Landlord to Tenant, prevents Landlord from relocating Tenant without Tenant's consent and compensation.
- Pay CAM % based on total rent only, without off-set for anchor tenants or vacant space. - Ensure Tenant pays only Tenant's fair share (pro-rata) of operating expenses.
- Cap management fees in CAM. - Same as above.
- Define what is included in CAM (No advertising, no management over ride, etc.). - Same as above.
- Increase Grace Period for late rents. - Gives Tenant additional time prior to penalties.
- Decrease Late Penalty.- Lowers Tenant's potential costs.
- Reduce events of default.- Lowers Tenant's risk of defaulting on Lease.
- Increase time allowed to cure defaults. - Gives Tenant more flexibility in their remedies.
- Reduce Landlord remedies of default. - Limits Landlord's options.
- Decrease required Insurance amount. - Lowers Tenant's cost.
- Obtain a broad exclusivity clause. - Reduces Tenant's competition potential.
- Retain rights to interior furniture, fixtures and equipment. - Allows tenant to retain more of its assets.
- Shorten Landlord rebuilding period. - Forces Landlord to put Tenant's space back in operable condition sooner.
- Obtain right to rebuild yourself. - Gives Tenant the option to do its own repairs if Landlord is too slow.
- Obtain right to offset rents against Tenant repairs. - Allows tenant to do repairs, and offset the cost against rental payments.
- Obtain right of first refusal on adjacent space. - Allows Tenant to expand into adjacent space.
- Obtain option to buy. - More relevant to smaller properties, this gives Tenant the option to purchase the property.
- Obtain first right of refusal to buy. - Allows Tenant to purchase the property at the same price and terms that a third party offers.
- Make joining the Merchant's Association an option, not mandatory. - Reduces Tenant's expenses.
- Limit HVAC/Mechanical costs to a fixed dollar amount annually.
- No percentage rent. - Reduces Tenant's expenses and bookkeeping obligations.
- No limitation of trade area. - Gives Tenant full ability to expand wherever Tenant sees fit.
- Obtain a guaranty of signage use. - Assures Tenant will obtain and retain proper signs.
- Make sure the property's rules and regulations cover potential problems such as neighboring businesses who use too much parking, make too much noise, create obnoxious fumes, operate non-synergistic businesses (pawn shops, bingo parlors, strip joints).- Makes Tenant'soccupancy more trouble-free.
- Get a right to relocate within building if a major anchor tenant vacates the premises.
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