Commercial NNN lease contract , can anyone comment ?

[Daniel Huang]

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?

[Rod Hanks]

Quote from @Daniel Huang:

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?

I’m not an attorney but I have signed a number NNN leases. They are capping the the taxes and insurance portion you are responsible for. If you were to default on the lease you are still responsible for the portion of taxes and insurance for the time that you were occupying the property. In my NNN leases there are no caps FYI.

[Daniel Huang]

"You" as the tenant correct? We will be the landlord.

[Rod Hanks]

Quote from @Daniel Huang:

"You" as the tenant correct? We will be the landlord.

Correct “You” as the tenant. It’s a great clause for the tenant but not so much for the landlord.

[Daniel Huang]

so if there's a change of ownership the new landlord will not be able to collect more than $12,480 property tax or $2,500 insurance? 

[Rod Hanks]

Quote from @Daniel Huang:

so if there's a change of ownership the new landlord will not be able to collect more than $12,480 property tax or $2,500 insurance? 

Yes that is correct because you assume the landlord lease. Unless you can get the tenant to sign a new lease with new ownership you are stuck with it until lease is up. But definitely talk to your commercial realtor or attorney for clarification.