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Damage or Destruction

CategoryReal Estate

Clause TypeRemedies

Definition

Parties agreement on rights and responsibilities if the property is damaged or untenantable through no fault of either party.

Example

If an act of God or other casualty renders the Premises unusable for the Tenant's purposes, the Tenant shall have the right to terminate this Lease within 30 days of such damage. Rent payments shall be prorated as of the date of Lease termination.