Commercial Lease memo to tenant (Volk)

Commercial Lease memo to tenant (Volk) - Dear Tenant: We...

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Dear Tenant: We are in receipt of your letter demanding six months of rent-free use of the Building while you search for an alternative location. While we sincerely regret the circumstances that have transpired, we cannot accommodate your request at this time. On entering the lease, the state’s highway widening project was specifically brought to your attention. This information was disclosed early in the process, and was a subject of negotiation with regard to Base Rent and Remedies for Default in the Agreement. You were informed of the presence of the access road, and the probability of access disruptions. You were further aware of the temporary and ad hoc nature of the access road, and its infirmities. With these risks in mind, we agreed on the rent term and price, and do not consider ourselves bound to adjust them. We would like to draw your attention to several terms in the lease supporting our view that a six month rent concession followed by termination is unreasonable. Section 3.1.1 is quite explicit regarding the duty to pay Rent, “Tenant shall pay to Landlord …the Base Rent, without notice, demand, offset or deduction, in advance, on the first day of each calendar
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This note was uploaded on 10/18/2011 for the course LAW 700 taught by Professor Kim during the Spring '10 term at USC.

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Commercial Lease memo to tenant (Volk) - Dear Tenant: We...

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