Commercial Landlord-Tenant—Guarantor Not Liable For Obligations Arising From Lease Extension Which Lengthened the Term, Increased the Square Footage and Rent and Changed A Security Provision
IN JANUARY 2006, the plaintiff-landlord and a commercial tenant entered into a lease for a period from March 1, 2006 through February 28, 2013 (original lease). “A,” the tenant’s president and defendant “B” had executed a personal guaranty of the terms of the lease (original guaranty). In April 2008, the landlord and the tenant entered into an extended and modified lease agreement (extension agreement), pursuant to which the term of the lease was extended by two years, the square footage and the rent was increased and a security provision was changed. Although “A” personally guaranteed the extension agreement, “B” was involved in neither the negotiation nor execution of the extension agreement and the extension agreement did not indicate that it was guaranteed by “B.”
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