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Commercial Ground Leases (Third Edition)

Author(s): Jerome D Whalen
Practice Area: Banking and finance, Commercial real estate, Financing, Ground leases, Real estate, Real estate financing, Real estate leasing, Real property
Published: Nov 2013
Supplement Date: Apr 2021 i Other versions can be found in the Related Items tab.
ISBN: 9781402421020
PLI Item #: 52718

Commercial Ground Leases is a definitive guide to drafting, negotiating, and finalizing equitable, error-free leasing documents that address the needs of both landlord and tenant. It covers the full range of relevant commercial ground leasing issues, including:

  • Base rent, adjustments, taxes, and other payments
  • Reappraisal of ground rents
  • Objectives, assumptions, and mechanics of percentage rent
  • Tenant and landlord financing
  • Subordinated fee and leasehold mortgage financing
  • Effects of bankruptcy, assumption of leases, rejection
  • Tenant project development and lien issues
  • Ground lease term, title, use and occupancy
  • Subletting, assignment, sale, and continuing liability issues
  • Exculpatory clauses and guaranties
  • Insurance, damage, reconstruction, and condemnation
  • Default and redemption
  • Use of mediation, arbitration, and appraisal to resolve disputes
  • Rights to purchase
  • Termination, development rights leases, and multiparcel development

Commercial Ground Leases features adaptable, time-saving agreement language and contains numerous appendices, including forms of letter of intent, leasehold mortgagee protection clauses, intercreditor agreements, fee and leasehold deed of trust provisions, estoppel certificate and guaranty, and a complete ground lease with many alternative clauses.

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