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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple style='word-wrap:break-word'><div class=WordSection1><p class=MsoNormal>Need some creative input.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Have a commercial Landlord whose leases require windstorm insurance.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Tenant (multiple locations with Landlord) is trying to self-insure for windstorm due to the high premiums; however, the Leases do not provide the Tenant the right to self-insure. The Leases state that if Tenant fails to obtain insurance, Landlord has the right to place the insurance and charge back Tenant, or declare a default.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>The Landlord and Tenant have had a long relationship and wanted to get creative in alternative ways to meeting the insurance requirement (i.e. Standby Letter of Credit); however, I wanted to know if anyone else is running into this issue and what ways they see of solving.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>As a side fact, the Guarantor of the Lease is financially significant (if that provides an alternative). Each of the LLC Tenants are separate and distinct entities under the umbrella of the Guarantor.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Thanx for any 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><span style='mso-ligatures:none'>Les H. Stevens, Esquire<o:p></o:p></span></p><p class=MsoNormal><span style='mso-ligatures:none'>Les H. Stevens, P.A.<o:p></o:p></span></p><p class=MsoNormal><span style='mso-ligatures:none'>5301 North Federal Highway<o:p></o:p></span></p><p class=MsoNormal><span style='mso-ligatures:none'>Suite 130<o:p></o:p></span></p><p class=MsoNormal><span style='mso-ligatures:none'>Boca Raton, Florida 33487<o:p></o:p></span></p><p class=MsoNormal><span style='mso-ligatures:none'>Tel: 561-989-9797<o:p></o:p></span></p><p class=MsoNormal><span style='mso-ligatures:none'>Fax: 561-989-8484<o:p></o:p></span></p><p class=MsoNormal><span style='mso-ligatures:none'>E-Mail: <a href="mailto:lesstevens@earthlink.net">lesstevens@earthlink.net</a><o:p></o:p></span></p><p class=MsoNormal><span style='mso-ligatures:none'>_____________________________________________________________________________ <o:p></o:p></span></p><p class=MsoNormal><b><span style='color:#C0504D;mso-ligatures:none'>OUR OFFICE NO LONGER ACCEPTS CASHIER’S CHECKS AT CLOSING. ALL FUNDS MUST BE RECEIVED IN THE FORM OF A SAME DATE WIRE TRANSFER ONLY (NO ACH TRANSFERS).<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='color:#C0504D;mso-ligatures:none'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:14.0pt;color:#C0504D;mso-ligatures:none'>WE DO NOT ACCEPT OR REQUEST CHANGES TO WIRING INSTRUCTIONS VIA EMAIL OR FAX. <i>Always call to verify</i><o:p></o:p></span></b></p><p class=MsoNormal><span style='mso-ligatures:none'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;mso-ligatures:none'>THIS MESSAGE IS INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY TO WHOM IT IS ADDRESSED, AND MAY CONTAIN INFORMATION THAT IS PRIVILEGED, CONFIDENTIAL AND/OR OTHERWISE EXEMPT FROM DISCLOSURE. IF YOU HAVE RECEIVED THIS TRANSMITTAL IN ERROR, PLEASE DELETE IT AND NOTIFY THIS OFFICE IMMEDIATELY.<o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>