RISK ALERT: Protect Your CU in Lease Agreements
Some credit unions are looking to derive extra income by leasing available space as a source of this income. As the landlord or lessor, you can dictate the terms of the lease, excluding legal requirements that may benefit the renter or lessee.
Contract language risks to be concerned with includes the verbiage / conditions and terms in the lease, hold harmless agreements, the type of business, and the potential interaction between the operation of the credit union and the business.
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