We represented an acclaimed architecture firm to negotiate a comprehensive agreement package with a lender for a $300 million mixed-use project. This protected the architect’s interests while enabling the lender to complete the project in the event of an owner borrower default. The agreement confirmed the architect’s contract validity, outlined payment terms, and allowed for lender contract assumption upon any such default. It also included architect certifications for code compliance and permitting. Concurrently, we negotiated the Assignment of Design and Consulting Agreements and Plans and Specifications, transferring the architect’s contract and intellectual property to the lender as collateral, subject to assumption of our architect client’s contract upon any default.
