Common use of GOVERNMENTAL POWER OF EMINENT DOMAIN Clause in Contracts

GOVERNMENTAL POWER OF EMINENT DOMAIN. Eminent domain is the legal name for the right of a government such as the state or county or city to take private property for public use. The government must pay fair compensation to anyone who has any right in the property that is taken by the government. If all or any part of the leased property (or the building within which the leased property is located) is taken by eminent domain, this lease will end automatically. Landlord and Tenant agree to release each other from any responsibility in the event that the leased property is taken by eminent domain and the lease has ended. Tenant is not entitled to any payment or other damages if the Lease is terminated as a result of the exercise of eminent domain.