Unethical clause in mortgage loan document?

[Gedaliah Fineman]

I'm trying to close on a commerical refi cash out bridge loan with a lender when I found the following 2 questionable clauses.

I asked the lender to remove them but he insisted that it was for the purpose of making sure that I did not lease the property to a relative for cheap and then default on it.

What do you think, is this ethical?

and also

Lender is aware that this is a commerical, non-primary property for investment purposes and yet asks me to sign a lease that disallows me from renting it out? 

[Scott Trench]

I don't think you are going to win a direct fight with this. If you want to push back, maybe you can ask for them to change the language to explicitly allow you to rent the premises at or near the projected price per square foot that you have underwritten in your pro forma, to businesses of a certain type, and agree that you will not rent the property under market rent, or to a personal connection without the written consent of the lender. 

Maybe they will be amenable to changes that move you more towards that. I think it IS reasonable to ask that you in turn, not be prevented from renting out the property at it's highest and best use. 

If they disagree, and you don't like it, you can get another lender.