Need a lawyer to review a lease agreement for a shop, Highlands Ranch, Colorado, Nothing has been signed, just received

I want to thank you for choosing Just Answers.

I will gladly look at the agreement for you.

Is there anything in particular you are wanting me to review in the document?

Yes sorry I had to take a call from my grandmother.

Well the dates obviously need to get changed.

Please give me some time to review the doc and I will get back to you about the rest of the concerns

All of the dates are off, it lists the later year before earlier year, ie Jan 23 to Dec 22.

The personal garuntee bothers me, but if you are willing to take it on that is your choice.

It is forcing you personally and the business to both garuntee the payment of the lease so if the business goes under you are still personally liable.

It also has language to prevent bankruptcy from discharging the debt. I do not practice bankruptcy but I am not sure if this is a valid waiver.

That said bankruptcy especially personal bankruptcy is the nuclear option.

Seeing as it is a 5 year lease, that is a very term if this is a new business I would strongly suggest not signing something for that long.

Starting a new business is a huge risk and if it goes under, I have complete faith in you, but for whatever reason it goes under you don't want to be in the hook for up to five years for the lease.

I would suggest if the landlord is willing getting you personally off the lease and the business only. So if the Corp goes under you are not stuck.

Does this make sense?

Well you would either change the language to strike the bankruptcy language.

Or you can also speak to an attorney who is far more knowledgeable about bankruptcy, and see if the clause is even enforceable.

You would not phrase it as you wrote it .

I will continue to review as needed, what are your other concerns.

Also the court would not deem it invalid just by filling bankruptcy, Elon musk can file bankruptcy no court would grant that he is insolvent.

I don't know about billing you would have to ask customer care about billing issues.

I can ans will continue to answer your questions.

The second now seperate one about bankruptcy is out of my specialty as I do not practice that and it is beyond the scope of the question.

Does this make sense?

You will have to consult a bankruptcy expert but in my not bankruptcy specialist opinion it is likely that the waiver would not hold up and if a bankruptcy was granted the debt would be discharged depending on your assets.

Again I don't know your assets and I don't practice that area of law.

I do a lot  of contract and I am more than happy to answer the contract issues.

Bankruptcy is a whole other beast.

It would be like asking a cardiologist about a broken bone. The cardiologist has some knowledge but not a specialist in that area.

Make sense?

Yes if you go into bankruptcy it is automatically in default, the personal garuntee is saying that you are in default regardless of the filing and still liable so it can not be discharged.

It looks perfectly legal. I mentioned my objections on the risk, but if you are ok with the terms then yes I did not see anything out of the ordinary.

Do you have a question or want advice about a specific clause?

That is way easier to address, than does this doc look good.

Since these are all negotiated or quasi negotiated terms it is very challenging to say much about a lease as long as nothing is standing out as obviously wrong.

Which is there in your case the dates all need to be changed and updated.

Yes it is not the best worded lease I have read better ie the dates. That said all in all if you are fine with the terms it is appears to be a valid lease.

I caution you about the five year term, from experience major major chains of restaurants, grocery stores, and gas stations will not sign that long a lease for a new location. The trade off is higher rent, but security they take security that even a proven concept may not work in that exact spot.

Plus not legal advice but it is a landlord market.

You are locking in at what might be the peak of the hill, next year or year 4 you could be way over paying.

Personally not legal advice rents and property have to go way down, all the signs are showing it, the markets are contracting, easy bonds are tightening, the fed has already been hiking the rates up for 3/4 of year and saying it will continue at 3/4 point a month to slow down the economy to curb inflation.

Personally, I would not take a long term lease nor take a mortgage right now.

In fact I am kind of trapped, I start a new job 70 miles away but we are locked at 1.8% move and.it is over 6%.

That is on you.

I 100% wish you the best, ***** ***** why I went on the unsolicited advice.

Just heads up I am about to go to lunch with the Judge I clerked for, so if I do not get back immediately that is why.

It will be nice to see him, I am bringing my dog, we were in a murder trial and the dog was pushed out of a moving truck on his horse ranch.

I was tasked with finding him a home. The judge posted his bail from the shelter, I picked him up the week of our wedding.

He is now my sweet huge 110lb pain in the tail. Lol.

And bed warmer, baby sitter, and best friend.

He is a true Canadian lab (so way larger than American labs, webbed feet triple coat), and German shorthaired pointer, we think.

This is Gordie.

Though but total soft center. He follows my two year old around and protects him.

No none at all. He jumped right into the judges wife's car, sat in the passenger seat.

His microchip showed he had been adopted and abandoned 4 times in his first 10 months of life.

He got lucky he was dumped on the biggest animal advocate judge property.

Then I am a volunteer to work with hard to adopt dogs at a shelter, serve on the board, and volunteer as chief counsel for a local shelter.

We would not allow anything to happen to him.

That is great. The law is a very rewarding profession. But it can also be very challenging when dealing with clients you sincerely ***** *****

That said thank you for your patience.

It was great to see the Judge. It is great to still be close friends. He loved seeing Gordie, and Gordie seeing him.

That said where were we?

That is amazing news way to go.

It was a really nice meal. I am so greatful to still have a friendship and mentorship with him.

What other questions do you have?

Well thank you and I wish you the best. A very happy New Year as well.

You can also request a specific expert in the future. As well as favorite experts as well.

I wish you and your son a very successful business.

Thank you for choosing Just Answers.