Talk:ClubStead Master Lease
For Your Attention/Information/Review
"TSI promises not to impose or permit to be imposed within ClubStead any tax on the person or property of P or of anyone else in ClubStead. The word "tax" shall be understood to mean any imposition of any levy, fine or assessment other than as provided for by the terms of this or other agreements voluntarily entered into."
I understand that the intention here is that there will be no taxes imposed on a resident by TSI or anyone else in a position of control or management over Clubstead. I just want to point out, in case you haven't already reviewed it in this light, that it also seems to imply that TSI will be responsible for preventing State Governments from imposing taxes on your residents. As an example, a US citizen living aboard Clubstead (abroad or especially if within the US EEZ) would be taxed by the US Government. If it is not your intention to somehow forcibly act as protector of all residents from such tax claims from existing state governments, the language might need to be revised slightly to more accurately reflect this. [I have no legal expertise in this matter but wanted to bring it to your attention for your benefit.]
"In the event of such termination, TSI shall return any rental balance pro-rated to the date of the written notice. Compensation for P's fixed improvements on the site shall be established in the manner set out in Paragraph IV.B, above."
IV. D. 2. a. (? I'm not sure if the numbering is correct in this section ?)
"Upon 24-hours written notice following P's failure to pay rent in full for a period of 30 days after it has become due and payable. In that event, the compensation for P's fixed improvements shall be established in the manner set out in Section IV.B, above, and shall be paid to P by P's successor, if such there be within a year, and otherwise by TSI."
There seems to be no recourse for TSI to be compensated for any rent that was past due for sufficient time to warrant an eviction. Perhaps it could include a statement along the lines of "...compensation for P's fixed improvements... less the value of rent past due."
I'm just trying to help, in case any of these issues have been overlooked. Mike 11 March 2009 13:30EST(18:30GMT)