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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">Hi Cary – I don’t typically use an entirely different form for such guaranty limitations. Here is something I’ve plugged in to modify the overall guarantor obligations on
a rolling basis:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal">“Notwithstanding anything contained <span style="color:black">
in this Guaranty to the contrary, and notwithstanding the unconditional nature of this Guaranty and the absence of limiting language on Guarantor's obligations elsewhere herein</span>, Guarantor’s total obligation to Landlord pursuant to this Guaranty shall
not exceed an amount equal to Tenant’s Rent obligations accruing for the one (1) year period commencing on the date of Tenant’s default and ending on the date of the first anniversary of Tenant’s default, provided that any election by Landlord to accelerate
the rent owed under the Lease shall not be deemed an accrual of such Rent during the one year period in question for purposes of calculating such cap.”<o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">This captures any rent escalators a year out but could also just be framed as an equation (12 x the monthly rent in effect at the time of default) so that it isn’t tied to
a period in the future, i.e. just a basic calculated cap regardless of when the rent will be or was owed.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">If you are representing the landlord, consider also still allowing for any guarantor pursuit/litigation expenses on top of the cap.
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<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;color:#003771">GREGORY R. HANEY</span></b><b><span style="font-size:1.0pt;font-family:remialcxesans;color:white"></span></b><b><span style="font-size:1.0pt;font-family:template-qHcMuMjTEe2o4AAiSCOMRw;color:white"></span></b><b><span style="font-size:1.0pt;font-family:zone-1;color:white"></span></b><b><span style="font-size:1.0pt;font-family:zones-AQ;color:white"></span></b><b><span style="font-family:"Calibri",sans-serif;color:#003771"><o:p></o:p></span></b></p>
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<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:#003771"> <b>| </b><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;color:#003771">SHAREHOLDER<o:p></o:p></span></b></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#003771">Florida Bar Board Certified Specialist in Real Estate Law<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#003771">Dir: <a href="tel:727-820-3958" target="_blank"><span style="color:#003771;text-decoration:none">727-820-3958</span></a><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#003771"> | <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#003771"><a href="mailto:GHaney@trenam.com" target="_blank"><span style="color:#0000EE">email</span></a><o:p></o:p></span></p>
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<p class="MsoNormal"><u><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#0000EE"><a href="http://www.trenam.com/vcards/Gregory%20R.%20Haney.vcf" target="_blank"><span style="color:#0000EE">vcard</span></a></span></u><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#0000EE"><o:p></o:p></span></p>
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<p class="MsoNormal"><u><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#0000EE"><a href="https://www.trenam.com/people-list/gregory-scott-r-haney/" target="_blank" title="My Bio"><span style="color:#0000EE">bio</span></a></span></u><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#0000EE"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#003771">200 Central Avenue, Suite 1600, St. Petersburg, FL 33701<br>
101 East Kennedy Boulevard, Suite 2700, Tampa, FL 33602<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#003771">Main: 727‑896‑7171 (St. Pete) or 813‑223‑7474 (Tampa) | www.trenam.com<o:p></o:p></span></p>
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<p class="MsoNormal" style="line-height:10.0pt;mso-line-height-rule:exactly"><span style="font-size:8.5pt;font-family:"Calibri",sans-serif;color:#003771">WIRE FRAUD ADVISORY: Due to the increased risk associated with wire fraud and e-mail hacking and phishing
attacks, in the event you receive an e-mail from Trenam Law containing wire transfer instructions, please call Trenam Law using previously known contact information and NOT information provided in the email, to verify the information contained in the wire
transfer instructions prior to wiring funds.<o:p></o:p></span></p>
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<p class="MsoNormal" style="line-height:10.0pt;mso-line-height-rule:exactly"><span style="font-size:8.5pt;font-family:"Calibri",sans-serif;color:#003771">CONFIDENTIALITY NOTICE: This e-mail transmission, and any documents, files or previous e-mail messages
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> landten-bounces@lists.flabarrpptl.org <landten-bounces@lists.flabarrpptl.org>
<b>On Behalf Of </b>csabol sabollaw.com<br>
<b>Sent:</b> Thursday, May 23, 2024 11:54 AM<br>
<b>To:</b> 'landten@lists.flabarrpptl.org' <landten@lists.flabarrpptl.org>; 'Landtencl' <landtencl@lists.flabarrpptl.org><br>
<b>Subject:</b> [RPPTL Leasing Committee] Limited/Rolling PG<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:black">Hi All,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:black">I'm working on a PG for a Commercial Lease. I have a standard form, but it's a full guaranty and they want it rolling for just 1 year. Any chance anyone has any language or
a form you could help me out with?<o:p></o:p></span></p>
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<p class="MsoNormal"><b><i><span style="font-family:"Times New Roman",serif;color:black">Cary Sabol</span></i></b><span style="font-family:"Times New Roman",serif;color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue">Cary P. Sabol, Esq. J.D. (2001), LLM (2009)</span></b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue">Law Offices of Cary P. Sabol</span></b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue">P.O. Box 15981 | West Palm Beach | Florida | 33416</span></b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue">Office: (561) 413-4449</span></b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue">Cell: (561) 281-2744</span></b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue">Fax: (888) 316-2881</span></b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue">Email:
<a href="mailto:CSABOL@SABOLLAW.COM" target="_blank">CSABOL@SABOLLAW.COM</a> </span></b><span style="font-size:11.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:9.0pt;font-family:"Times New Roman",serif;color:red;background:white">BEWARE OF CYBER-CRIME: IF YOU RECEIVE AN E-MAIL OR ANY OTHER COMMUNICATION THAT APPEARS TO BE GENERATED FROM OUR OFFICE THAT CONTAINS NEW, REVISED,
OR ALTERED BANK WIRE INSTRUCTIONS, CONSIDER IT SUSPECT AND CALL OUR OFFICE AT A NUMBER YOU TRUST. OUR BANK WIRE INSTRUCTIONS SELDOM CHANGE. ALWAYS CALL TO VERBALLY CONFIRM OUR WIRE INSTRUCTIONS PRIOR TO SENDING ANY WIRE TRANSFERS.</span></b><span style="font-size:9.0pt;font-family:"Times New Roman",serif;color:red"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><u><span style="font-size:8.0pt;font-family:"Times New Roman",serif;color:#0C64C0;background:white">PLEASE NOTE:</span></u></b><b><span style="font-size:8.0pt;font-family:"Times New Roman",serif;color:#0C64C0;background:white"> On Closings
with a Loan, we require "CLOSING INSTRUCTIONS and LOAN PACKAGES" by NOON the day BEFORE Closing" </span></b><span style="font-size:8.0pt;font-family:"Times New Roman",serif;color:#0C64C0"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:8.0pt;font-family:"Times New Roman",serif;color:#0C64C0">CASH TO CLOSE for real estate transactions must be WIRED to our account prior to closing. (SAME DAY WIRE - NO ACH TRANSFERS) Wire instructions will be provided
upon request. ACH transfers are NOT SAME DAY wires and cannot be accepted.</span></b><span style="font-size:8.0pt;font-family:"Times New Roman",serif;color:#0C64C0"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><u><span style="font-size:9.0pt;font-family:"Times New Roman",serif;color:red">THIS COMMUNICATION MAY BE AN ATTEMPT TO COLLECT A DEBT AS DEFINED BY FLORIDA AND FEDERAL LAW AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. THIS
IS A COMMUNICATION FROM A DEBT COLLECTOR.</span></u></b><span style="color:red"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">
<a href="mailto:landten-bounces@lists.flabarrpptl.org">landten-bounces@lists.flabarrpptl.org</a> <<a href="mailto:landten-bounces@lists.flabarrpptl.org">landten-bounces@lists.flabarrpptl.org</a>> on behalf of RPPTL Real Estate Leasing Committee <<a href="mailto:landten@lists.flabarrpptl.org">landten@lists.flabarrpptl.org</a>><br>
<b>Sent:</b> Thursday, September 21, 2023 10:39 AM<br>
<b>To:</b> 'landten@lists.flabarrpptl.org' <<a href="mailto:landten@lists.flabarrpptl.org">landten@lists.flabarrpptl.org</a>>; 'Landtencl' <<a href="mailto:landtencl@lists.flabarrpptl.org">landtencl@lists.flabarrpptl.org</a>><br>
<b>Subject:</b> Re: [RPPTL Leasing Committee] Windstorm Lease Issue</span> <o:p></o:p></p>
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<p class="MsoNormal"> <o:p></o:p></p>
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<p class="xmsonormal">Les, is this a multi or single tenant building scenario?<o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal">If multi-tenant, I assume the Landlord is insuring the building and there really isn’t much direct risk for the Landlord if the Tenant doesn’t have windstorm coverage on its FF&E. if the Tenant is credit worthy why not let them self-insure?
I could send you some self-insurance clauses. Frankly, I think the Landlord could make a business decision to waive the coverage without requiring self-insurance.<o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal">If this is a single tenant property, why not have the landlord insure the building including obtaining the windstorm coverage? Tenant will reimburse the Landlord for the cost of the insurance as additional rent. Frankly, this is the
way insurance should be handled for a single tenant building.<o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal" style="margin-bottom:12.0pt"><b><span style="font-size:10.0pt;color:black">Arthur J. Menor</span></b><span style="color:black"><br>
</span><span style="font-size:10.0pt;color:black">Partner, Board Certified in Real Estate Law</span>
<b><span style="font-size:10.0pt;color:#1AB7EA">|</span></b> <span style="font-size:10.0pt;color:black">
Shutts & Bowen LLP <br>
Tel: (561) 650-8510</span> <b><span style="font-size:10.0pt;color:#1AB7EA">|</span></b>
<span style="font-size:10.0pt;color:black">Cell: (561) 358-1572 </span><br>
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<p class="xmsonormal"><b>From:</b> <a href="mailto:landten-bounces@lists.flabarrpptl.org">
landten-bounces@lists.flabarrpptl.org</a> <<a href="mailto:landten-bounces@lists.flabarrpptl.org">landten-bounces@lists.flabarrpptl.org</a>>
<b>On Behalf Of </b>RPPTL Real Estate Leasing Committee<br>
<b>Sent:</b> Thursday, September 21, 2023 8:40 AM<br>
<b>To:</b> 'Landtencl' <<a href="mailto:landtencl@lists.flabarrpptl.org">landtencl@lists.flabarrpptl.org</a>>; 'Landten' <<a href="mailto:landten@lists.flabarrpptl.org">landten@lists.flabarrpptl.org</a>><br>
<b>Subject:</b> [RPPTL Leasing Committee] Windstorm Lease Issue<o:p></o:p></p>
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<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:red">EXTERNAL: This email originated from outside of the SHUTTS email system. Do not respond, click any links or open any attachments unless you trust the sender and know
the content is safe.</span><o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal" style="margin-bottom:12.0pt"> <o:p></o:p></p>
<p class="xmsonormal">As there are 2 listservs, and I think my first posting went to the residential as opposed to the commercial, I am re-posting the below question.<o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal">Need some creative input.<o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal">Have a commercial Landlord whose leases require windstorm insurance.<o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal">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="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal">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="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal">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="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal">Thanx for any input.<o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal">Les H. Stevens, Esquire<o:p></o:p></p>
<p class="xmsonormal">Les H. Stevens, P.A.<o:p></o:p></p>
<p class="xmsonormal">5301 North Federal Highway<o:p></o:p></p>
<p class="xmsonormal">Suite 130<o:p></o:p></p>
<p class="xmsonormal">Boca Raton, Florida 33487<o:p></o:p></p>
<p class="xmsonormal">Tel: 561-989-9797<o:p></o:p></p>
<p class="xmsonormal">Fax: 561-989-8484<o:p></o:p></p>
<p class="xmsonormal">E-Mail: <a href="mailto:lesstevens@earthlink.net">lesstevens@earthlink.net</a><o:p></o:p></p>
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