Common use of CASUALTY, CONDEMNATION, OR EMINENT DOMAIN Clause in Contracts

CASUALTY, CONDEMNATION, OR EMINENT DOMAIN. If the Premises or any part of the community are destroyed due to fire, explosion, or other casualty, or if the Premises or any part of the community become unsafe, hazardous, or uninhabitable as determined by Agent in its sole and absolute discretion, Agent may, at its option, upon written notice to Resident either immediately terminate this Lease or repair the Premises. Regardless of the extent of damage to the Premises or any portion of the community, Agent may also upon written notice immediately terminate this Lease, if in Agent’s sole and absolute discretion, any repairs necessitated by any event would be either impractical or dangerous if Resident continued to occupy the Premises. If Agent elects to repair the Premises and if the damage or casualty event is not due to Resident’s negligence or intentional conduct in Agent’s sole and absolute determination, the Rent on the damaged Premises shall be abated and prorated from the date on which the Premises became uninhabitable to the date on which Resident may reoccupy the Premises, as determined by Agent in its sole discretion. If the damage or casualty event is due to Resident’s negligence or intentional conduct, the rent shall not xxxxx or prorate and Resident shall be liable to Agent for any amounts due under this Lease plus all damage caused by such negligent or intentional conduct. If the damage or casualty event is not due to Resident’s negligence or intentional conduct and if Agent elects to repair the Premises, Agent may, but has no obligation to, provide suitable substitute accommodations within the Community upon terms and conditions acceptable to Agent. If Agent provides any substitute accommodations, Agent may but shall not be required to pay any costs associated with providing any substituted accommodations. After any casualty event and repair, Agent may elect to have Resident vacate any substituted accommodations or Premises and reoccupy any repaired Premises. If Agent does not elect to repair the Premises, the building in which the Premises are located, or the community, this Lease shall immediately terminate. In the event of any casualty, Agent shall under no circumstances be obligated to Resident for finding or paying for replacement accommodations and for any other expense, damage, or inconvenience suffered by Resident. Resident is required to obtain appropriate insurance to protect Resident against such event. If the whole or any part of the Premises is taken by governmental authority under eminent domain for any public or quasi-public use or purpose, then the Lease Term will terminate on the date when possession of the part so taken is required for such use or purpose. All damages awarded for such taking will belong to and are the property of Agent.

Appears in 11 contracts

Samples: Property Management Agreement (KBS Legacy Partners Apartment REIT, Inc.), Property Management Agreement (KBS Legacy Partners Apartment REIT, Inc.), Property Management Agreement (KBS Legacy Partners Apartment REIT, Inc.)

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CASUALTY, CONDEMNATION, OR EMINENT DOMAIN. If the Premises or any part of the community are Premises is destroyed or damaged due to fire, explosion, or by any other casualty, or for any other reason, or if the Premises or any part of the community Premises become unsafe, hazardous, or uninhabitable as determined by Agent Landlord in its sole and absolute discretion, Agent may, Landlord may at its option, upon written notice to Resident Tenant, either immediately terminate this Lease or repair the Premises. Regardless of the extent of damage to the Premises or any portion of the communityPremises, Agent Landlord may also upon written notice immediately terminate this Lease, if in AgentLandlord’s sole and absolute discretion, any repairs necessitated by any event would be either impractical or dangerous dangerous, if Resident Tenant continued to occupy the Premises. If Agent elects to repair the Premises and if the damage or casualty event is not due to Resident’s negligence or intentional conduct in Agent’s sole and absolute determination, the Rent on the damaged Premises shall be abated and prorated from the date on which the Premises became uninhabitable to the date on which Resident may reoccupy the Premises, as determined by Agent in its sole discretion. If the damage or casualty event is due to ResidentTenant’s negligence or intentional conduct, the rent shall not xxxxx or prorate prorate, and Resident Tenant shall be liable to Agent Landlord for any amounts due under this Lease Lease, plus all damage caused by such negligent or intentional conduct. If the damage or casualty event is not due to Resident’s negligence or intentional conduct and if Agent elects to repair the PremisesExcept as required by law, Agent may, but Xxxxxxxx has no obligation to, to provide suitable substitute accommodations within the Community upon terms and conditions acceptable to Agent. If Agent provides any substitute accommodations, Agent may but shall not be required to pay any costs associated with providing any substituted accommodations. After any casualty event and repair, Agent may elect to have Resident vacate any substituted accommodations or Premises and reoccupy any repaired Premises. If Agent does not elect to repair the Premises, the building in which the Premises are located, or the community, this Lease shall immediately terminate. In the event of any casualty, Agent shall under no circumstances be obligated to Resident for finding or paying for replacement accommodations and nor is Landlord liable for any other expense, damage, or inconvenience suffered by ResidentTenant. Resident Tenant understands that this is required the purpose of renter’s insurance. For this reason, Xxxxxxxx recommends for Tenant to obtain appropriate alternative living accommodation renter’s insurance to protect Resident against such eventcoverage. If the whole or any part of the Premises is taken by governmental authority under eminent domain for any public or quasi-public use or purpose, then the Lease Term will terminate on the date when possession of the part so taken is required for such use or purpose. All damages awarded for such taking will belong to and are the property of AgentLandlord.

Appears in 1 contract

Samples: Residential Lease Agreement

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