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Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 4 – Assignment of Rents Under Section 697.07, Florida Statutes

September 22, 2020 Banking & Financial Services Industry Legal Blog, Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

Parts 1-3 of this series explored alternative pre-foreclosure loss mitigation options for lenders including acceleration and enforcement of personal guarantees. This article explores Section 697.07, Florida Statutes, which governs the assignment of rents. Assignment of Rents under Section 697.07, Florida Statutes Pursuant to Section 697.07, Florida Statutes, a mortgage or […]

Does a Commercial Landlord Have a Duty to Mitigate Damages After a Tenant Breaches the Lease Agreement?

July 15, 2020 Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement.  See Coast Fed. Savs. & Loan Ass’n v. DeLoach, 362 So. 2d 982, 984 (Fla. 2d DCA 1978).  However, there is an exception where the commercial landlord […]

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 2: Pre-Foreclosure Loss Mitigation Options

June 24, 2020 Banking & Financial Services Industry Legal Blog, Florida Business Litigation Blog

After a borrower default, lenders have multiple options to consider.  While foreclosure may be inevitable, with the right facts and strategy, lenders can minimize their risk and maximize their potential recovery. Part 1 of this series provided a general overview of the series and initial considerations for lenders dealing with […]

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 1: Introduction and Considerations When Hotels and Restaurants Default on Their Mortgages

June 15, 2020 Banking & Financial Services Industry Legal Blog, Florida Business Litigation Blog

Given the industry-wide effects from COVID-19, lenders are already aware that many clients in the hospitality industry will have difficulties staying current on their mortgages and loan obligations.  This is especially true for hotels and restaurants.  This blog series focuses on mortgage lending with regard to hotels and restaurants and […]

Treatment of Commercial Leases in Bankruptcy

April 21, 2020 Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

The novel coronavirus pandemic and related government “stay at home” and “shelter in place” orders are causing serious negative financial impacts to business of all types.  Many of the hardest hit industries, such as restaurants and retailers, are industries in which a large portion of the business may be operated […]

Commercial Evictions 101

April 16, 2020 Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

One of the most important considerations for commercial property owners and managers is maintaining tenant occupancy.  However, commercial property owners and managers will inevitably encounter tenants who refuse to pay rent or who refuse to vacate the premises after the lease term has ended.  In these situations, the owner or […]

Tips and Strategies for Building Owners to Closeout a Construction Project

March 26, 2020 Real Estate Development, Sales and Leasing Industry Legal Blog

Winding up a construction project and transitioning occupancy to the building owner (i.e. project closeout) can be a harrowing ordeal for an owner with little to no construction experience.  Even for experienced owners, Project closeout can be a challenge and is often mishandled, leading to eleventh-hour emergencies, cost overruns, and […]

Does the Failure to Provide Adequate Parking Constitute a Material Breach of a Commercial Lease Agreement?

February 25, 2020 Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

Adequate parking is essential to most businesses.  Sufficient parking is needed for a business’s employees, customers or vendors.  Most commercial lease agreements will address parking or will address common areas, which may include parking.  Depending on a tenant’s business, adequate parking may be a material term of the commercial lease […]

2019 Amendments to Florida’s Riparian Rights Rules (Otherwise Known as Chapter 18-21, F.A.C.)

September 6, 2019 Real Estate Development, Sales and Leasing Industry Legal Blog

Waterfront property is something that has attracted millions of residents to Florida over the years.  Whether it be a single-family home, a large homeowners association, a vibrant condo association or a busy commercial marina, the right to utilize the water that lies immediately adjacent to upland property is a long-standing […]

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