Attention spans are finite, especially when confronted with an
exhaustively detailed commercial lease. While it may be
tempting for brokers and advisors of prospective tenants to focus
solely on the “big ticket items” of a lease, it is
always important, and sometimes critical, to thoughtfully consider
how each covenant will impact the tenant's use of the space.
This includes those found beyond the signature pages and into the
exhibits.
A prime example of a frequently under-emphasized category of
covenants is the landlord's rules and
regulations. Traditionally, landlord's rules and
regulations are incorporated into the lease through an exhibit
attached to the end of the lease often by means of a simple
covenant requiring tenant's compliance with landlord's
rules and regulations (e.g. “Tenant shall faithfully observe
and comply with all rules and regulations set forth on Exhibit
‘X' attached hereto.”). Because of their
less-than-prominent location, tenants and their
