Key Lease Work Letter Issues When the Tenant Is Doing the Work
Key Lease Work Letter Issues When the Landlord Is Doing the Work
When a Section 22 Affidavit, discussed in earlier installments of this series, materially misstates a building loan’s “net sum available” to pay contractors for cost of improvement work, that can have substantial adverse...more
In real estate financing, most loan documents restrict a Borrower’s right to alter the collateralized real property. Alterations provisions in loan documents pertain to any alterations, improvements, or demolition of any...more
Borrowers often envision future alterations to enhance the economic value of the commercial real estate asset, when closing the initial loan. Such alterations can be in the form of capital improvements, tenant improvements,...more
In a recent Arizona Court of Appeals case, Helvetica Servicing, Inc., v. Pasquan, 2019 WL 3820015, (8/15/19), the Court of Appeals addressed the distinction between (1) a construction loan (or refinance of same) and (2) a...more