Author Archives: Austin T. Hamilton, Esq.
Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 3: Commercial Mortgage Default Options Including Acceleration and Enforcement of Personal Guaranties
In reviewing a loan file after a default by a borrower, lenders should evaluate whether the loan includes an acceleration clause and whether the loan is secured by any personal guaranties. With commercial loans, typically the loan documents will include … Read Full Post
Does a Commercial Landlord Have a Duty to Mitigate Damages After a Tenant Breaches the Lease Agreement?
Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement. See Coast Fed. Savs. & Loan Ass’n v. DeLoach, 362 So. 2d 982, 984 (Fla. 2d DCA … Read Full Post
Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 2: Pre-Foreclosure Loss Mitigation Options
After a borrower default, lenders have multiple options to consider. While foreclosure may be inevitable, with the right facts and strategy, lenders can minimize their risk and maximize their potential recovery. Part 1 of this series provided a general overview … Read Full Post
Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 1: Introduction and Considerations When Hotels and Restaurants Default on Their Mortgages
Given the industry-wide effects from COVID-19, lenders are already aware that many clients in the hospitality industry will have difficulties staying current on their mortgages and loan obligations. This is especially true for hotels and restaurants. This blog series focuses … Read Full Post
Florida’s Consumer Collection Practices Act (FCCPA) Part 2: Implementing Safeguards and Internal Procedures to Establish a Bona Fide Error Defense to Violations of the FCCPA
Part 1 of this series provided an overview of Florida’s Consumer Collections Practices Act (FCCPA) and explained why it is imperative for all business owners to be aware of, and understand, the FCCPA. This article explores Section 559.77’s bona fide … Read Full Post
All businesses in the state of Florida need to be familiar with Florida’s Consumer Collection Practices Act (“FCCPA”). The FCCPA is found at Sections 559.55-559.785 of the Florida Statutes. The FCCPA is intended to protect consumers and is intentionally unfair … Read Full Post
One of the most important considerations for commercial property owners and managers is maintaining tenant occupancy. However, commercial property owners and managers will inevitably encounter tenants who refuse to pay rent or who refuse to vacate the premises after the … Read Full Post
In addition to the concern over actually contracting the Coronavirus (“COVID-19”), business owners have additional concerns, to wit: how the reaction to COVID-19 will impact their business and how they can protect their business and mitigate losses during this volatile … Read Full Post
Does the Failure to Provide Adequate Parking Constitute a Material Breach of a Commercial Lease Agreement?
Adequate parking is essential to most businesses. Sufficient parking is needed for a business’s employees, customers or vendors. Most commercial lease agreements will address parking or will address common areas, which may include parking. Depending on a tenant’s business, adequate … Read Full Post
Most lawyers can recite the elements for a cause of action for breach of contract. However, not as many lawyers can explain the effect of a prior material breach on a contract. This article analyzes prior material breaches and the … Read Full Post