Credit: faber14/Adobe Stock Realty Law Digest
Scott Mollen discusses two commercial landlord-tenant cases, "525 Del. v. CSCO," and "Strycker's Bay Apartments, Inc. v. Han-Bae Corp."
August 09, 2022 at 02:10 PM
11 minute read
Real EstateCommercial Landlord-Tenant—Good Guy Guaranty Enforceable Since It Provided That It Continued With Respect to Any Renewal, Modification or Extension—Commercial Landlords Have No Duty To Attempt To Mitigate Damages
A plaintiff landlord commenced an action seeking to recover monies due from its commercial tenant and the subject guarantors (guarantors), pursuant to the terms of the lease and guaranty agreements.
The landlord and the tenant had entered into a five-year lease in November 2014. In March 2019, the landlord and the tenant, entered into an "extension agreement and modification of lease" (extension), which extended the lease term through Dec. 31, 2024. In March 2019, more than a week after the extension had been executed, the guarantors executed a Good Guy Guaranty (guaranty). The guaranty guaranteed the full rent owned by the tenant, including the landlord's reasonable attorney fees and disbursements if the landlord was required to enforce its rights.
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