Title: Unit 2 Case Study
Course: SLF 129 Legal Risk Management for The Small Business - Updated Sept 28 > Section: SLF 129 Legal Risk Management for The Small Business - Updated Sept 28

Unit 2 Case Study

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Unit 2 Case Study

Case Study Assignment:

In this case study I have provided a blank fictitious sample lease for a warehouse from Adams LLC. In the following case I have provided you information to complete the lease.

Your assignment is:

1. To fill in the information to complete the sample lease.
2. There have been some components that are missing from the lease.  You are to identify those components and make revisions to the lease in order to make it a binding contract.
3. Write a short critique of the missing lease components and identify some possible risks that might arise for both the landowner and the tenant.

I have provided several links to commercial property leases for you to review.  Use these contracts and the readings to identify the missing components of the Adams LLC lease.

http://thompsonhall.com/sample-commercial-lease-agreement-for-minnesota-businesses/

http://www.cdcloans.com/pdf/commercial_lease_for_epc.pdf

http://www.legrandrealestate.com/Portals/23/docs/Lease-Business%20Property-Short%20Form.pdf

Case:

Janet Beck will enter into a commercial lease contract with Jack Heineken who is the representative for Adams LLC. Landowner of said property that is located at 1224 Hops Highway Clearwater Iowa, 72958.  The contract date will be October, 24^th 2015 for the agreed upon yearly lease of $7.35 per square foot with a total of 10,000 sq. feet of space to be paid in equal monthly payments due on the 25^th of each month for the contact term starting on January 1^st 2016 terminating on December 25^th 2020.

Janet will use the property for storage of material needed in the production of beverages which take place at another location.  Adams LLC agrees to provide all amenities per city code which include such things as working prorated HVAC, restrooms, water, lighting, secured and operable doors and windows, and all other utilities terminated at location.

Beck is responsible for all improvements within the premises and required to put in Becks name all utilities.  Beck is responsible to provide liability insurance in the form of one million dollars and fire and hazard insurance equal to four times yearly lease amount. Beck is also responsible for all property taxes, and any building improvements that must be made during the term of the lease. (worth 20pts)