Page 10 - NBIZ Magazine April 2021

Landlord’s Contractual Lien agreements in the lease file that sets out the rights and
To secure all Rent and other obligations of Tenant hereunder, obligations of the parties in regards to the property in ques-
Tenant hereby grants to Landlord a security interest, as that tion. If not, the landlord should make a demand for the third
term is defined by the Texas Uniform Commercial Code, party to execute a release and indemnity for the immediate
upon all equipment, fixtures, and other personal property retrieval of the property in question. If the landlord dispos-
which are or may hereafter be located on or within the es of property belonging to third parties, the landlord may
Premises, including all proceeds thereof. Additionally, upon open itself up to a claim for conversion.
any assignment of this Lease, any person or entity succeed-
ing to the interest of Tenant, at the time of such succession Health Care Information is Protected
to the interest of Tenant, and in consideration of Landlord’s Know one’s tenants. When a tenant abandons computer
agreement to permit such assignment, grants to Landlord and/or documents deemed to contain protected health care
a security interest upon all equipment, fixtures, inventory information, special care should be taken by landlords in
and other personal property which are or may hereafter delivering this property back to the tenant or properly
be located on or within the Premises, including all proceeds disposing or destroying this property. If one knows a tenant
thereof. All lawful exemptions of such property or any part is a healthcare provider, caution should be used when deal-
thereof are hereby waived by Tenant and such security ing with any abandoned property. Before disposing of any
interest shall be in addition to Landlord’s statutory lien property, the lease must be carefully reviewed to determine
provided by Texas Property Code §54.021. This Lease shall if the parties have contractual obligations regarding the
constitute a “Security Agreement”, as that term is defined by disposition and/or disposal of the tenant’s abandoned prop-
the Texas Uniform Commercial Code and Landlord is hereby erty. If the tenant is a healthcare provider, the landlord’s
authorized to file any appropriate financing statements in contractual lien provision should contain something similar
connection therewith. Tenant acknowledges that seven (7) to the following:
days written notice of a sale under this Security Agreement
shall be reasonable notice. This paragraph shall survive the “PHI”: or Protected Health Information, which is any informa-
expiration or termination of this Lease. tion about health status, provision of health care, or payment
for health care that can be linked to a specific individual
Who owns What? according to US Health Insurance Portability and Account-
Take a look at the picture below. Is it possible some of the ability Act as amended from time to time.
property may be leased or belong to someone other than the
tenant? It all appears to be trash to management. However, Landlord's Lien and Security Interest
be very careful in simply disposing of the property. The copy Landlord shall have a Landlord's statutory lien, and in
machine is most likely leased. The painting and prints on addition, thereto Landlord shall have, and Tenant hereby
the floor against the wall may belong to an employee. grants unto Landlord, a security interest in all of the goods,
When dealing with personal property that belongs to wares, furniture, fixtures, office equipment, supplies, and
third parties or property that might be leased by the tenant, other property of Tenant now or hereafter placed in, upon,
first determine if there are any subordinations or waiver or about the Premises and all proceeds thereof, as security
for all of the obligations of Tenant under this Lease. Tenant
shall not remove any of said personal property from the
Premises until all of Tenant's obligations under this Lease
have been satisfied in full. Upon the occurrence of an Event
of Default by Tenant, Landlord may, in addition to any other

When dealing with personal property
that belongs to third parties or property

that might be leased by the tenant,
first determine if there are any subordinations
or waiver agreements in the lease file that sets
out the rights and obligations of the parties in
regards to the property in question.

10 NBIZ ■ April 2021