The scenario for existing outside of our current lease is not to be thrown out on the street, so that's not going to happen. I mean, that's about as terrible a scenario as possible, a forced closure of your business because of a contract dispute. That would be flat out disastrous. The alternative is a clause in our lease called "Holding Over." I like how this sounds:
20. HOLDING OVER. If Tenant remains in possession of the Premises or any part thereof after the expiration of the Lease Term with the express written consent of Landlord, such occupancy shall be a tenancy from month to month at a rental in the amount of 300% of the last monthly Minimum Rent, plus all other charges payable hereunder, and upon all the terms and conditions hereof applicable to a month to month tenancy.
Yes, essentially a $10,000 a month fine for not getting the lease signed. That's a pretty devastating result of whatever this is we're dong here. So the advice I got from another tenant is to have a drop dead date, a point where you show up in their offices and demand the lease be signed. Right now. I'm not the one who put in a 300% rent increase clause, so it's not unreasonable to have a sit in. I'll be sure to bring snacks.
I am told we're very close to getting this thing signed. Not only will it get signed, but it will include the construction project for the mezzanine expansion. When I say include, that means there's a provision in the contract for how much I'm paying them to build it, when payments are due, and how they'll finance some of the new overages and permit fees (did I mention the $1,000 per hole plumbing permit? So many holes). We're really close. But we've been really close for months. I just don't want to be a hold over.