Commercial Real Estate Leases - Lawyers （商业地产租赁律师）.pdfVIP

Commercial Real Estate Leases As New York City’s nonprofit sector mobilizes in response to Hurricane Sandy, Lawyers Alliance is ready to assist. With over 10 years of disaster relief experience Lawyers Alliance has helped nonprofits with disaster relief legal matters related to fundraising and grant-making, expansion and downsizing, real estate contingencies, and compliance with tax-exempt organizations law. If your organization has questions about assisting relief efforts or victims of Hurricane Sandy, contact Lawyers Alliance for support. The answers to each of the following questions are based on the Standard Form of Office Lease (the Lease Form) promulgated by the Real Estate Board of New York, Inc., which is often used for smaller office leases in New York City. Each landlord and tenant, however, must consult their actual leases, as the standard form is usually supplemented with Riders that amend the provisions of the Lease Form. Landlords may be willing to negotiate lease modifications for tenants who plan to return to the premises. Question: Our organization holds leased property in the area that lost power or was damaged and untenable due to flooding. Was the lease automatically terminated as a result of the accidental destruction? Answer: No, the lease continues in full force and effect. Question: Can the tenant terminate its lease on the basis that Hurricane Sandy is a “casualty”? Answer: In the provision of the Lease Form that governs casualty, the tenant expressly waives rights it may have been entitled to under Section 227 of the Real Property Law. Section 227 allows a tenant to surrender leased property that is “destroyed or so injured by the elements” if the tenant is not responsible for the destruction. Because the Lease Forms waives the tenant’s rights the lease is not terminable by the tenant in the event of a casualty. Question: