[RPPTL LandTen] N-1003 - Landlord Tenant Committee: Landlord's Waiver of Lien

[Lloyd Granet]

When I can I say Landlord will not agree to give right of access etc, however Landlord confirms that it does not object to the Tenant granting the rights to lender.

I also try not to agree to waiver, only subordination, some of the form waivers don't provide they go away when the loan is paid.

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From: landten-bounces at lists.flabarrpptl.org [mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of Drobner, David S.
Sent: Friday, August 03, 2012 5:10 PM
To: RPPTL Landlord Tenant Committee
Subject: Re: N-1003 - Landlord Tenant Committee: [RPPTL LandTen] Landlord's Waiver of Lien

I've seen this effort repeatedly for many years in commercial retail especially for majors, anchors, nationals and public companies doing financing - lots of awful over-reaching stuff. I strike ALL occupancy rights - typically it is a collateral assignment of personalty, not the leasehold estate (not that a LL has agreed to anyway). Huge issues in retail if you let the lender walk in and have possession rights.  Want to avoid liability/lack of operation issues, fire-sale situations, and lack of adequate indemnity and insurance coverage among many things to worry about.



From: landten-bounces at lists.flabarrpptl.org<mailto:landten-bounces at lists.flabarrpptl.org> [mailto:landten-bounces at lists.flabarrpptl.org]<mailto:[mailto:landten-bounces at lists.flabarrpptl.org]> On Behalf Of David Weisman
Sent: Friday, August 03, 2012 5:04 PM
To: 'RPPTL Landlord Tenant Committee'
Subject: [RPPTL LandTen] Landlord's Waiver of Lien

I have seen a new form floating in from tenant's lenders which is disturbing and I wonder if anyone else has seen this: In addition to a typical Landlord waiver of lien on FFE, the Lender asks that they be allowed to take possession of the premises, rent free, for 30 days. After the 30 days, they agree to pay rent on a per diem basis.

I strike the free occupancy if I can.

Any thoughts or has anyone else encountered this?

David  Weisman
Board Certified Real Estate Lawyer
Greenspoon Marder, P.A.
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