Ruminations thinks that damage and destruction issues related to leased premises are the current “hot” topics among leasing attorneys. We say that because of the plethora of related programs scheduled at the October 16-20, 2013 International Conference of Shopping Centers (ICSC) Law Conference in San Diego. More about that later.
A just published court decision by a Texas District Court of Appeals illustrates a “drafting” issue and a post-fire “factual” dispute that, itself, may highlight a “drafting” failure. That case is captioned: Parkdale Shopping Center v. Dolgen of Texas, Inc. You can see it HERE.
In 2007, a shopping center extended its lease’s term for five years, until September of 2012. Two weeks later, its landlord proposed a complete remodeling of the shopping center, including adding a very large multi-goods retailer. This particular tenant, fearing competition from that kind of tenant, declined its Landlord’s offer to relocate it at the same property). Negotiations followed and the parties agreed that if the Landlord gave six months’ notice and paid $350,000, the tenant would “scat.” [Read more...]