Reference no: EM133247169
(1) Review the drive-through contingency in Section 29.29 of the Foozer's Grille lease and confirm the following: a. Does our use permit approving all of the drive-through lanes in the entire shopping center satisfy the technical requirements of Section 29.29? If not, does the use permit satisfy the intent of the drive-through lanes? b. Does the failure on the part of Foozer's Grille provide us with any sort of defense against the attempt by Foozer's Grille to terminate the Lease? Is there anything else we can do to prevent the termination?
(2) Review the Access Easement and Restriction Agreement and confirm the following: a. Does the Access Easement restrict our use of the road in terms of noise or intensity of vehicular traffic? b. Does the Access Easement provide for any specific remedies to Darcy, LLC for either allegation - the location of the road outside of the Easement Area or the use of the easement at a greater intensity than permitted? c. From a practical standpoint, is there anything we can do to mitigate the impact on the Darcy, LLC property of the traffic traveling across the access road?
(3) Review the default provisions under the loan agreement (a copy of which can be found in the Project Documents folder) and confirm the following: a. Are we in default of the loan terms at this time as a result of the Foozer's Grille default letter? If not, will we be in default of the loan terms once the Foozer's Grille lease is effectively terminated in 30 days? b. Are we in default of the loan terms at this time as a result of the Darcy, LLC default letter? If not, when might we be in default of the loan terms as a result of the Darcy, LLC dispute?
(4) Review the HK Calvert Crossings, LLC operating agreement and confirm the following: a. What authority we have to address both default letters. Specifically, what sort of approvals would we need to commence a lawsuit against either Foozer's Grille or Darcy, LLC? b. Are there any adverse consequences to the company or Phil as a result of these default allegations?