#10502 - Collateral Warranties And Agreements For Lease - Advanced Property Law

ADVANCED PROPERTY LAW AND PRACTICE WORKSHOP 7 Revision Notes: Collateral Warranties + Agreements for Lease 2 Analysis! !"Does the [document] say what the clientLevelneeds/wants it to say? If no, what amendments would you recommend?" ! delete/amend existing clauses ! !! ! * * add new clauses * be able to justify your proposed amendments * react to the other sides amendments --------------------------------------------------------------------------------------------------------------------------- Liability of the Professional Team to 3rd Parties ! It is important that a developer can offer a similar level of protection that it requires from the professional team to its prospective tenants or other 3rd parties (especially if selling pre-lets where a tenant cannot make a structural survey). !These tenants protection usually come in 2 forms: !! warranties (from the professional consultants) ! * collateral !! * development obligations (from the developer in the agreement for lease) Tenants and other 3rd parties are likely to have similar concerns to that of the developer: ! Cost Quality !! Time !! !! !! !! !! !! !! !!