Commercial Lease Issues

NONPROFIT ORG. U.S. POSTAGE PAID Sterling Education Services, Inc. Fundamentals of Employment Law • Bridgeport, CT – September 10, 2009 • Hartford, CT – October 13, 2009 Check our website or call us for more info! Please route to: -Managing Partner -Property Manager -Real Estate Professional -Real Estate Consultant -Owner Other OppOrtunities reference Materials Seminar Manual The faculty has prepared a substantial reference work to accompany its presentation. This manual will serve as a valuable tool for future reference. You will receive the manual upon checking in at the seminar site. Its price is included in the registration fee. Audio Recording This seminar will be recorded, so if you cannot attend, or if you want to apply for home study credit (where available), you can order the audio recording and/or a reference manual from this program. Please use the registration form to order. Commercial Lease Issues Commercial Lease Issues in a Down Economy Bridgeport Presented by: Kurosh L. Marjani in a Down Economy Bridgeport - September 2, 2009 IMPORTANT INFORMATION - PLEASE CIRCULATE sterling BOOkstOre To order one or more of these audio recordings and manuals from previous Sterling seminars in Connecticut, please mark your selections below, cut out or copy the form and mail to us with payment, or call us at 715-855-0498 and charge to your credit card. COMMERCIAL LANDLORD-TENANT LAw: Case Law and Legislative Updates; Lease Provisions and Issues: Planning Ahead to Avoid Problems; Landlord and Tenant Obligations; The Eviction and Judicial Process; When Tenant or Landlord Files Bankruptcy; and Ethical Considerations PRESENTERS: Toni Marie Gelineau with Willinger, Willinger & Bucci, P.C.; Carl T. Gulliver with Coan, Lewendon, Gulliver & Miltenberger, LLC; Stephanie A. McLaughlin with Sandak Hennessey & Greco LLP; Melvin A. Simon with Cohn Birnbaum & Shea P.C.; and Candace M. Cunningham with Thelen Reid Brown Raysman & Steiner LLP Seminar #8CT06130 rManual only $75 EMPLOyMENT LAw UPDATE: ADA Update; Sexual, Racial, and Other Workplace Harassment; FLSA/State Wage and Hour; FMLA Changes and New Proposed Regulations: What You Need to Know to Comply; Immigration Compliance in the Workplace; and Employment Arbitration and Mediation Agreements: “Mandatory” vs. “ Voluntary”? PRESENTERS: Courtney A. George with Cohen and Wolf, P.C.; Jesse A. Langer with Cohen and Wolf, P.C.; Jonathan B. Orleans with Pullman & Comley, LLC; Margaret M. Sheahan with Pullman & Comley, LLC; Stuart M. Katz with Cohen and Wolf, P.C.; and Sung-Ho Hwang with Law Offices of Sung-Ho Hwang, LLC Seminar #8CT12378 rAudio & Manual Set $155 rAudio only $95 rManual only $75 FUNDAMENTALS OF EMPLOyMENT LAw: Hiring and Terminating; Employee Privacy in the Workplace; Leaves of Absence; Sexual, Racial, and Other Harassment in the Workplace; and Keeping Out of Jail: Immigration Enforcement Issues PRESENTERS: Glenn A. Duhl with Siegel, O’Connor, O’Donnell & Beck, P.C.; Bernard E. Jacques with Pepe & Hazard LLP; and Virginia E. Carstens with Leete, Kosto & Wizner, LLP Seminar #8CT09167 rAudio & Manual Set $155 rAudio only $95 rManual only $75 September 2, 2009 Stephanie A. McLaughlin Brion J. Kirsch - Pullman & Comley, LLC - Wofsey, Rosen, Kweskin & Kuriansky, LLP - Sandak Hennessey & Greco LLP (See complete biographies inside) if registered by July 20th Please make necessary corrections to address. $30 Discount if registered by July 20th $30 Discount Continuing Education Credit: CT CLE 6.5, NY CLE 8.0, PA CLE 6.5, and BOMI 7.0. See inside for details. Name_________________________________________________________ Firm/Company Name_________________________________________________ Address________________________________________________________ City________________________________State________Zip____________ E-mail Address_____________________Phone____________________________ 9CT09300 Sterling Means Value! www.sterlingeducation.com SES STERLING EDUCATION SERVICES, INC. P.O. BOX 3127 EAU CLAIRE, WI 54702-3127 (715) 855-0498 SES STERLING EDUCATION SERVICES, INC. P.O. BOX 3127 EAU CLAIRE, WI 54702-3127 (715) 855-0498 8 8 www.sterlingeducation.com whO ShOULD ATTEND • Property Managers • Developers • Building Owners • Real Estate Agents & Brokers • Tenants • Real Estate Professionals • Leasing Agents • Attorneys: • Real Estate • Lease and Leasing • Litigation and Civil Practice • Landlord and Tenant • Creditor and Debtor • Business Law COMMERCIAL LEASE ISSUES Location: Holiday Inn Hotel - 1070 Main Street - Bridgeport Registration: 8:00 a.m. Presentations: 8:30 a.m. - 4:30 p.m. Lunch: (on your own) 12:00 - 1:00 p.m. SEMINAR AGENDA I. The Leased Premises A. Letters of intent: why, terms, binding/non-binding B. Methods for measuring space C. Rentable versus usable square footage D. Supplemental rights: parking, other common areas, and signage E. Expansion and relocation rights F. Construction/preparation of leased premises 1. Description and scope of construction 2. Milestones and remedies: coordination between landlord and tenant a. Rent commencement issues and Certificate of Occupancy b. Punch list c. Early access II. Rent Provisions A. Types of leases: absolute net; triple net; modified gross net; gross net B. Rent per square foot C. What is included in rent? D. Rent escalators caps E. Additional rent – operating expenses, capital expenditures, CAM charges; management fees, auditors rights, real estate taxes; utilities; insurance premiums F. Financing allowances in rents III. The Marketable/Financeable Lease A. Buyer and lender wish list: term; rent; estoppel certificates, SNDA B. Financeable lease provisions 1. Tenants financials 2. Credit enhancements/security deposit; guarantees 3. Limited liability for mortgage lenders 4. Absolute Net; limited warranties on landlord’s work 5. Rights of other tenants 6. Tenant set-off rights; termination rights; rent abatement rights IV. Use, Term and Extension Issues A. Use restrictions and exclusives B. Assignment and subletting provisions and interplay 1. Landlord control versus tenant exit strategy 2. Standard of landlord review and landlord exposure 3. Tenant as primary obligor/status of guaranty C. Shopping centers and tenant mix D. Continuous operation clauses E. Term and extensions: practical considerations 1. Conditions for exercise of extension option 2. Time is of the essence for notice; reminder notice 3. Extension term rent determination V. Default/Landlord and Tenant Remedies and Evictions A. Define “default” – technical vs. payment B. Lease termination prerequisite: notice and cure periods C. Evictions: FED (Forcible Entry & Detainer) Process 1. Timing/court dates/services of notices and summons 2. Defenses and appeals 3. Mediation 4. Writ of possession 5. Abandoned property 6. Self-help (if applicable) and illegal evictions VI. Bankruptcy Issues A. Types of bankruptcies and implications of filing B. Automatic stay/seeking relief C. Rejection and assumption of leases D. Debtor tenant’s obligations to landlord while in bankruptcy E. Preserving claims in bankruptcy Sterling Education Services may alter the agenda due to circumstances beyond our control. Bridgeport - September 2, 2009 CONTINUING EDUCATION CREDIT Please remember to bring your license number, ID or other necessary information to the seminar to ensure proper reporting of continuing education credit. MEET ThE FACULTy KUROSh L. MARJANI, of Wofsey, Rosen, Kweskin & Kuriansky, LLP in Stamford, practices primarily in civil litigation, with emphases in complex commercial, landlord and tenant, employment, probate, and personal injury cases. Mr. Marjani is a frequent lecturer on landlord and tenant law in Connecticut, and he has handled hundreds of commercial and residential landlord and tenant matters. He frequently represents both management and employees in employment disputes, including severance negotiations and discrimination matters. Mr. Marjani is a member of the Fund Distribution Committee of the United Way of Western Connecticut and the Raymond E. Baldwin American Inn of Court. He is admitted to practice in the Connecticut and New York, the Commonwealth of Massachusetts, and the U.S. District Court, District of Connecticut and District of Massachusetts. Mr. Marjani received his B.A. from the College of the Holy Cross and his J.D., with honors, from the University of Connecticut School of Law, where he was a member of the Connecticut Moot Court Board. STEPhANIE A. McLAUGhLIN, a partner with the Stamford law firm of Sandak Hennessey & Greco LLP, practices in landlord and tenant law, commercial and civil litigation, and property tax appeals. She has considerable experience representing both landlords and tenants in lease disputes and an active commercial litigation practice in federal and state courts, as well as complicated alternative dispute resolution proceedings, including international arbitrations. Ms. McLaughlin is admitted to practice in Connecticut, New York, and the U.S. District Court, District of Connecticut and Southern District of New York. She is a member of the Fairfield County and Connecticut Bar Associations and the Federal Bar Council. Prior to entering law school, she worked for The Peace Corps as an assistant in the director’s office and special assistant to the chief of staff. Ms. McLaughlin received her B.A. from the American University and her J.D. at DePaul University College of Law. BRION J. KIRSCh, of Pullman & Comley, LLC in Bridgeport, practices in the areas of real estate, commercial finance, leasing, and litigation, business and corporate law, landlord and tenant law, and green energy and environmental design. He represents clients in secured and unsecured financing transactions, construction and term financing, collateralized mortgage backed securities, acquisitions, sales, development and leasing of commercial and residential real estate, general business transactions, zoning and development approvals and litigation, commercial and residential loan workouts, restructuring and foreclosures, landlord-tenant disputes, and other commercial litigation matters. Mr. Kirsch is admitted to practice in Connecticut, the Commonwealth of Massachusetts, and the U.S. District Court, Districts of Connecticut and Massachusetts. He is a member of local and state bar associations, the Connecticut Trial Lawyers Association, and the Association of Trial Lawyers of America. Mr. Kirsch received his B.S. from Bryant College and his J.D. from Roger Williams University School of Law, where he worked with the State of Rhode Island Department of the Attorney General as a prosecutor in its district court division. This seminar has been approved by the Connecticut Bar Association for 6.5 CLE credit hours. This transitional and nontransitional continuing legal education program has been approved in accordance with the requirements of the Continuing Legal Education Board of New york for a maximum of 8.0 credit hours, of which 8.0 hours can be applied toward the professional practice requirement. This seminar has been approved by the Pennsylvania CLE Board for 6.5 credit hours. This program qualifies for 7.0 hours of BOMI International CPD credit for RPA, FMA, and/or SMA graduates. Other continuing education credit may be available. Please call (715) 855-0498 to inquire. walk-ins: Payment is required at the door. Please call ahead to confirm the schedule. Cancellations: Substitutions or transfers to a future Sterling seminar are welcome anytime up to the day of the seminar. If you cancel at least three business days before the seminar you may 1) transfer your registration to another seminar, 2) receive a full refund minus a $25.00 service charge, or 3) receive an audio and manual set of the seminar. Please note: If you do not attend and do not cancel as described above you are not entitled to a refund. Commercial Lease Issues Register Today for Seminar Number: 9CT09300 Mail: Sterling Education Services P.O. Box 3127 Eau Claire, WI 54702-3127 www.sterlingeducation.com Phone: 715-855-0498 Fax: 715-835-5132 Call us about discount opportunities for large groups, NPO’s, new practitioners and others! Bridgeport - September 2, 2009 Registration Fee: (includes manual) Reference Materials: r Audio/manual package $337* r $329 per person r Audio only $247* r $319 per person for 2 or more r Manual only $95* r $299 per person if paid by 7/20/09 r $147 audio with registration, a $100 savings! r Check Enclosed (payable to Sterling Education Services, Inc.) r Visa r Mastercard r AM.EX. Card #:__________________________________________ Exp. 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