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<p class="MsoNormal"><span style="font-size:11.0pt">Every situation is different, but landlords frequently delay the commencement of
<i>base rent</i> during buildout on a ground lease, with a drop-dead date by which construction must be complete and business operational. Tenant typically still pays utilities, property taxes, assessments, and insurance during the entire buildout period.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Happy to chat about it sometime next week.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Segoe UI",sans-serif;color:#4E4848">Samuel M. Meyler</span></b><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif;color:#4E4848"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif;color:#4E4848">Attorney at Law</span><span style="font-size:6.0pt;font-family:"Segoe UI",sans-serif;color:#4E4848"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:6.0pt;font-family:"Segoe UI",sans-serif;color:#4E4848"><o:p> </o:p></span></p>
<p class="MsoNormal"><a href="http://reedlongyearlaw.com/"><span style="color:windowtext;mso-ligatures:none;text-decoration:none"><img border="0" width="179" height="60" style="width:1.8666in;height:.625in" id="Picture_x0020_4" src="cid:image001.png@01DC5AF4.54AD8410" alt="A black background with white text
Description automatically generated with low confidence"></span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#A8D08D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Segoe UI",sans-serif;color:#4E4848">Reed Longyear Malnati Corwin & Burnett, PLLC</span><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif;color:#4E4848"><br>
801 Second Ave, Suite 1415<br>
Seattle, WA 98104<br>
Office: (206) 624‑6271<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif;color:#4E4848">Direct: (206) 408-5079<br>
Fax: (206) 624‑6672<br>
</span><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif;color:#93B479"><a href="mailto:smeyler@reedlongyearlaw.com"><span style="color:#93B479">smeyler@reedlongyearlaw.com</span></a></span><u><span style="color:#93B479"><br>
</span></u><a href="http://www.reedlongyearlaw.com/"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif;color:#93B479">www.reedlongyearlaw.com</span></a><u><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif;color:#93B479"><br>
<br>
</span></u><span style="font-size:8.0pt;font-family:"Segoe UI",sans-serif;color:#4E4848">The information in this email message may be privileged and confidential. It is intended only for the use of the recipient named above (or the employee or agent responsible
to deliver it to the intended recipient). If you received this in error, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited.</span><span style="font-size:11.0pt"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:11.0pt"><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;mso-ligatures:none">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;mso-ligatures:none"> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Mike Zeno<br>
<b>Sent:</b> Friday, November 21, 2025 2:01 PM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBARP] Ground lease<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:#002060">I’m reviewing a ground lease for a client. Client owns vacant land. Prospective tenant would build a car wash. The tenant proposes to not start paying rent until it’s built
out the space, which could take quite awhile. This doesn’t seem right, but I’m not sure what’s customary. I would be grateful if anyone would be willing to chat with me about customary financial terms.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:#002060"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:#002060"><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:#1F497D;mso-ligatures:none">The Law Office of G. Michael Zeno, Jr., P.S.</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-ligatures:none">T: (425) 947-8050 F: (425) 947-8052</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-ligatures:none">135 Lake Street S., Suite 257</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-ligatures:none">Kirkland, WA 98033</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-ligatures:none"> </span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#C00000;mso-ligatures:none">Confidential/Privileged Communication:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:gray;mso-ligatures:none"> This
email and any attachments are confidential, privileged and intended only for the intended recipient(s). Unauthorized disclosure, copying, distribution or use of this email is prohibited. If you received this email in error, please notify me immediately so
we can arrange for the message and documents to be returned and deleted. Thank you.</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#C00000;mso-ligatures:none">IRS Circular 230 Disclaimer:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:gray;mso-ligatures:none"> Any
tax advice provided in this communication (including attachments) is not intended or written to be used, and it cannot be used, by the recipient or any other taxpayer (i) for the purpose of avoiding penalties that may be imposed on the recipient or any other
taxpayer, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction. You should seek advice based on your particular circumstances from an independent tax advisor.</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black;mso-ligatures:none"><o:p></o:p></span></p>
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