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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal>All:<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>I am presently having a debate with a client regarding capital repairs/replacements/improvements in a NNN lease for an office building. The lease lists CAM components, with standard “includes but is not limited to . . .”. But the list neither includes nor excludes capital expenses explicitly.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>So do you think the Landlord can pass these expenses through? And does your opinion differ if the expense relates to a capital replacement/repair versus a capital improvement?<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>As always, thank you for your input.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'>Scott A. Frank<o:p></o:p></span></b></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'>Attorney at Law<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'><o:p> </o:p></span></p><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'>LAW OFFICES OF SCOTT A. FRANK, P.A.</span></b><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'>5301 N. Federal Highway, Suite 170<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'>Boca Raton, FL 33487<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'>p: (561) 826-5400<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'>f: (561) 423-5721 <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'><a href="mailto:sfrank@saflaw.com"><span style='color:blue'>sfrank@saflaw.com</span></a><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'><o:p> </o:p></span></p><p class=MsoNormal><img border=0 width=93 height=93 style='width:.9687in;height:.9687in' id="Picture_x0020_1" src="cid:image001.png@01D20FA5.3D908E70" alt="https://www.starslink.com/assets/AuthorizedAgentBadge.png"><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'> <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'><o:p> </o:p></span></p><p class=MsoNormal><i><span style='font-size:8.0pt;font-family:"Verdana",sans-serif;color:black'>If you believe that you have received this message in error, please notify the sender by reply transmission and delete the message without copying or disclosing it.<br><br>Pursuant to Internal Revenue Service guidance, be advised that any federal tax advice contained in this written or electronic communication, including any attachments or enclosures, is not intended or written to be used and it cannot be used by any person or entity for the purpose of (i) avoiding any tax penalties that may be imposed by the Internal Revenue Service or any other U.S. Federal taxing authority or agency or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.</span></i><span style='font-size:10.0pt;font-family:"Verdana",sans-serif;color:black'><o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>