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Legal memo re: 7 WTC lease draft #4, Dec 1997

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Memorandum from NYC Law Department to DCAS regarding issues with the fourth draft of the 7 World Trade Center lease.

NYC-WTC_000170180–000170181

Folder label: “7 WTC Draft Lease #4®Mayor's Office of Emergency Planning”

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NYC 9/11 Public Portal Document DEC-29-igg7 0g:01 NYC LAW DEPT 212 738 0366 P.33/03

5. Silverstein Management Fee Disclosure: Art 25 (Significant Related Party Transactions), bottom of page 74 states “This Article excludes management fees included in Operating Expenses.” We need to omit that language. ICan’t we get a side letter from Landlord declaring the identity and amount of said fee by Silverstein. I assume if it is reasonable we would have no problem and then Landlord could be assured and we could keep our standard language.

6. Repairs to (a) Tenant Initial Work and the (b) Demised Premfees (Art 13, pg 46 (bot) - 48; The lease provides that Tenant is responsible except that Landlord will make all “interior, exterior and structural repairs.” Is this the deal? Is not there a certain amount of Tenant Initial Work that Landlord has the continuing obligation to repair, aside from those due to defects of materials and workmanship for the first year. How are all the repairs being paid? Is it part of Operating Expenses. If not do we want Landlord to do whatever repairs are necessary (to both (a) and (b)) and we reimburse them? In any event we cannot keep the language in the middle of page 48 that gives the Tenant a choice on who does the repairs (“Tenant shall make such ordinary and nonstructural repairs as necessary for its occupancy or request Landlord, at Tenant’s expense to peiform such repairs. ” I believe Dan Muller would conclude that this violates the City’s Procurement Policy Board Rules,

I will be away on vacation next week, but we can discuss the lease in general when I return.

Enc, JC

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TOTAL P.03

NYC-WTC_000170181

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NYC-WTC_000170181Source: NYC Law Department, mirrored locally

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Draft lease agreement, August 1997 · Box 7DCAS

NYC-WTC_000170296

Draft lease agreement between the City of New York and 7 World Trade Company for 45,815 square feet at 7 World Trade Center.

1 shared non-person entities · 1 shared topics · Same agency, volume and box · similarity 0.927

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