Commercial NNN lease contract , can anyone comment ?
We just made offer for a retail property and some clauses in the lease agreement that we couldn't understand. Can anyone comment on this?Anything will be really helpful?
Thanks in advance.
13 .Taxes : Does above mean Tenant will only reimburse landlord's tax up to $12,4800 in the first year . How does the per diem clause work?
Does landlord gets reimbursed full property tax amount for the rest of the terms?
12. Maintenance and repairs :
It looks like Landlord will only be reimbursed up to $1,500 if any parking structure repair incurred by tenant .
Insurance : Does this mean Tenant will only reimburse landlord's insurance up to $2,500 in the first year . How does the per diem clause work?