stephen949
08-26-2008, 11:23 PM
I have a restaurant (2060 sqf) which I signed lease with the landlord (LL). At the time of negotiation and the letter of intend (LOI) that both sides agreed on, the term for the Real Estate Taxes is "Pro Rate Share Estimate: $5.50 psf per year" (or $5.50 x 2060 = $11330.00 per year). The Real Estate Taxes had been included in my rent montly ~$944.00 ($11330/12) that I have paid montly. However, after the first year, the LL bill me another $16000.00 and point to this clause in the lease (see attachment below). The total came to about 2.5 times the original amount that both sides agreed on. I feel that the landlord was misleading and dishonest regarding this section of the lease. What should I do? Please advice?
Steve
Steve