Partial Condemnation of the Premises Clause Samples

The Partial Condemnation of the Premises clause addresses situations where only a portion of a leased property is taken by a government authority through eminent domain or similar action. Typically, this clause outlines the rights and obligations of both landlord and tenant, such as whether the lease continues, how rent is adjusted, and how any compensation is distributed if only part of the premises is condemned. Its core function is to provide a clear framework for handling partial loss of the property, ensuring both parties understand their remedies and responsibilities, and minimizing disputes in the event of government action.
Partial Condemnation of the Premises. If less than a substantial part of the Premises shall be so condemned or taken (or sold under threat thereof) and after such taking the Premises can be used for the same purposes as prior thereto, the Lease shall cease only as to the part so taken as of the date possession shall be taken by such authority, and Tenant shall pay full Rent up to that date (with appropriate refund by Landlord of such Rent attributable to the part so taken as may have been paid in advance for any period subsequent to the date possession is taken) and thereafter Base Rent and Adjustments shall be equitably adjusted to reflect the reduction in the Premises by reason of such taking, Landlord shall, at its expense, make all necessary repairs or alterations to the Building so as to constitute the remaining Premises a complete architectural unit, provided that Landlord shall not be obligated to undertake any such repairs or alterations if the cost thereof exceeds the award resulting from such taking.
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Partial Condemnation of the Premises. If less than a substantial part of the Premises shall be so condemned or taken (or sold under threat thereof) and after such taking the Premises can be used for the same purposes as prior thereto, the Lease shall cease only as to the part so taken as of the date possession shall be taken by such authority, and Tenant shall
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Partial Condemnation of the Premises. If a portion of the Premises is taken by a Condemnation and such partial taking renders the Premises unsuitable for Tenant’s business, as reasonably determined in good faith by Landlord and Tenant, this Lease shall terminate as of the date of Condemnation and Tenant shall have no claim against Landlord for the value of any unexpired term of this Lease. If the partial taking by Condemnation does not render the Premises unsuitable for Tenant’s business, Landlord shall, in the exercise of reasonable diligence, restore the STATE OF ARIZONA ) ) County of Maricopa ) The foregoing document was acknowledged before me this I0th day of February 1995, by /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, the Manager for 78 MacClain LLC, an LLC, on behalf of said LLC IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Public My commission expires: STATE OF ARIZONA County of Maricopa The foregoing document was acknowledged before me this 23 day of December, 1994, by ▇▇▇▇▇▇▇ ▇▇▇▇▇, the Vice President of Go Video, Inc, an Corporation on behalf of said Corporation. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Public: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇ My commission expires: 7/30/98 EXIIIBIT “A” Legal Description of the Premises North Scottsdale Airpart, Unit No. 2, Lots 13 and 14, commonly known as ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, Scottsdale, Arizona. EXHIBIT “B” Site Plan EXHIBIT “C” WORK LETTER BUILDING SPECIFICATIONS FOR ▇▇▇ ▇▇▇▇▇▇▇ , Division #1 -SOFT COSTS, GENERAL C!2NDMONS, ALLOWANCE ITEMS: ARCHITECTURAL AND ENGINEERING FOR ST RUCTURAL, MECHANICAL PLUMBING, ELECTRICAL, CIVIL DESIGN, LANDSCAPE AND GRADING AND DRAINAGE PLANS Design Review ARCHITECTURAL AND FEES TOPO CONSTRUCTION STAKING SLUEPRINTING SOILS REPORT CONCRETE AND COMPACTION TESTING BUILDING PERMIT, LOG IN FEES GRACING AND DRAINAGE PERMIT AND REVIEW FEES LANDSCAPING OFFSITE PERMIT AND DRAWING DRIVEWAY PERMIT AND PLAN REVIEW 1’ WATER METER AND WATER RESOURCE ACQUISITION FEE SEWER DEPLOYMENT FEE FOR A 1’ WATER METMR TELEPHONE HOOIC;JP TO ONFE CENTRAL LOCATION WRITTEN FIVE YEAR GUARANTEE OF TERMITE PRE-TREATMENT WATER USE FEE SCOTTSDALE BUILDERS RISK INSURANCE PENALTY FOR PAVEMENT CUT SITE TRAILER AND FACILITIES: PROGRESSIVE CLEAN-UP DURING CONSTRUCTION FINAL DETAIL TEMPORARY POWER AND WATER TRASH DISPOSAL (JOB DUMPSTER) PROJECT SUPERVISION SCHEDULING AND COORDINATICN TELEPHONE ALLOWANCE ITEMS: ELECTRIC HOOK-UP TRANSFORMER FEES LMLITY COMPANY CABINET AND COUNTER TOP FLOOR COVERING-CARPET ALLOWANCE $16.00/sq.yd (COLOR AND...
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Partial Condemnation of the Premises. If a portion of the Building or Premises is taken by a Condemnation and such partial taking renders the Premises unsuitable for Tenant's business, as reasonably determined by Tenant and Landlord in their good faith discretion, this Lease shall terminate as of the date of Condemnation with respect to such Premises and Tenant shall have no claim against Landlord for the value of any un-expired term of this Lease. If the partial taking by Condemnation does not render the Premises unsuitable for Tenant's business, Rent shall be equitably reduced based upon the portion of the Premises taken by such Condemnation and Landlord shall promptly restore the Premises to a condition comparable to its condition prior to the Condemnation less the portion lost in the Condemnation; provided, however, Landlord shall not be obligated to commence such restoration until it receives the Condemnation award. If there are not sufficient funds from the Condemnation award, in the exercise of reasonable diligence, to restore the Premises, or if the Premises is not otherwise restored, within 120 DAYS after the date of such Condemnation, to a condition comparable to its condition prior to the Condemnation less the portion lost in the Condemnation, then this Lease shall terminate unless one party elects to contribute the shortfall.
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Related to Partial Condemnation of the Premises

  • Partial Condemnation In the event of a Condemnation of less than the whole of any Property such that such Property is still suitable for its Permitted Use, Tenant shall, to the extent of the Award and any additional amounts disbursed by Landlord as hereinafter provided, commence (or cause to be commenced) promptly and continue diligently to restore (or cause to be restored) the untaken portion of the applicable Leased Improvements so that such Leased Improvements shall constitute a complete architectural unit of the same general character and condition (as nearly as may be possible under the circumstances) as such Leased Improvements existing immediately prior to such Condemnation, in material compliance with all Legal Requirements, subject to the provisions of this Section 11.2. If the cost of the repair or restoration of the affected Property exceeds the amount of the Award, Tenant shall give Landlord Notice thereof which notice shall set forth in reasonable detail the nature of such deficiency and whether Tenant shall pay and assume the amount of such deficiency (Tenant having no obligation to do so, except that if Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Tenant pursuant to this Agreement). In the event Tenant shall elect not to pay and assume the amount of such deficiency, Landlord shall have the right (but not the obligation), exercisable at Landlord’s sole election by Notice to Tenant given within sixty (60) days after Tenant’s Notice of the deficiency, to elect to make available for application to the cost of repair or restoration the amount of such deficiency; provided, however, in such event, upon any disbursement by Landlord thereof, the Minimum Rent shall be adjusted as provided in Section 3.1.1(c). In the event that neither Landlord nor Tenant shall elect to make such deficiency available for restoration, either Landlord or Tenant may terminate this Agreement with respect to the affected Property and the entire Award shall be allocated as set forth in Section 11.5. Subject to the terms hereof, Landlord shall contribute to the cost of restoration that part of the Award necessary to complete such repair or restoration, together with severance and other damages awarded for the taken Leased Improvements and any deficiency Landlord has agreed to disburse, to Tenant regularly during the restoration period so as to permit payment for the cost of such repair or restoration. Landlord may, at its option, condition advancement of such Award and other amounts on (a) the absence of any Event of Default, (b) its approval of plans and specifications of an architect satisfactory to Landlord (which approval shall not be unreasonably withheld, delayed or conditioned), (c) general contractors’ estimates, (iv) architect’s certificates, (d) conditional lien waivers of general contractors, if available, (e) evidence of approval by all governmental authorities and other regulatory bodies whose approval is required, (f), if Tenant has elected to advance deficiency funds pursuant to the preceding paragraph, Tenant depositing the amount thereof with Landlord and (g) such other certificates as Landlord may, from time to time, reasonably require. Landlord’s obligation under this Section 11.2 to disburse the Award and such other amounts shall be subject to (x) the collection thereof by Landlord and (y) the satisfaction of any applicable requirements of any Facility Mortgage, and the release of such Award by the applicable Facility Mortgagee. Tenant’s obligation to restore the Leased Property shall be subject to the release of the Award by the applicable Facility Mortgagee to Landlord.

  • Total Condemnation If all of the Premises is condemned by eminent domain, inversely condemned or sold under threat of condemnation for any public or quasi-public use or purpose ("Condemned"), this Lease shall terminate as of the earlier of the date the condemning authority takes title to or possession of the Premises, and Rent shall be adjusted to the date of termination.

  • Damage or Destruction Condemnation (a) The risk of loss, damage or destruction to the Property by fire or other casualty or the taking of all or part of the Property by condemnation or eminent domain or by an agreement in lieu thereof until the Closing is assumed by Seller, except to the extent otherwise provided in paragraph 6(d) of this Contract. (b) In the event that the Property shall have been damaged or destroyed, the cost of repair or restoration of which would, in Buyer's and Seller's reasonable determination, exceed the sum of One Hundred Thousand and 00/100 Dollars ($100,000.00) (the "Casualty Amount"), then at Buyer's election, Seller shall, unless Seller has previously repaired or restored the Property to its former condition, either (i) pay over or assign to Buyer, on delivery of the Deeds all amounts recovered or recoverable on account of any insurance, together with amounts equal to any deductibles thereunder, less any amounts reasonably expended by Seller for partial restoration, or (ii) direct Escrow Agent to return the Deposit to Buyer in which case all other obligations of the parties hereto shall cease and this Contract shall be void and without recourse to the parties hereto, except such liabilities and obligations as expressly survive termination of this Contract. If the Property, or any part thereof, suffers any damage, the cost of repair or restoration of which would, in Buyer's and Seller's reasonable estimation, be less than the Casualty Amount, then Buyer shall consummate the Closing, without reduction in the Purchase Price, and accept the assignment of all amounts recovered or recoverable on account of any insurance, together with the amount of any deductibles thereunder, less any amounts reasonably expended by Seller for partial restoration. (c) If all or any portion of the Property is taken by condemnation, eminent domain or by agreement in lieu thereof, or any proceeding to acquire, take or condemn all or part of the Property is threatened or commenced, Buyer may either terminate this Contract (in which event Buyer shall be entitled to a return of the Deposit) or purchase the Property in accordance with the terms hereof, without reduction in the Purchase Price, together with an assignment of Seller's right to any award paid or payable by or on behalf of the condemning authority. If Seller has received payments from the condemning authority and if Buyer elects to purchase the Property, Seller shall credit the amount of said payments against the Purchase Price at the Closing. (d) Seller shall immediately notify Buyer of any damage or destruction to the Property or any notice received by it or information or awareness acquired by it regarding the threatening of or commencement of condemnation or similar proceedings.

  • DAMAGE OR DESTRUCTION OF PREMISES a. In the event the Premises are damaged by fire or other perils or casualty covered by fire and extended coverage insurance, Landlord may, in its sole and absolute discretion, repair or rebuild the same within a reasonable time after the event causing such damage. This Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate reduction of the rent from the date of damage and while such repairs are being made, such proportionate reduction to be based upon the extent to which the damage and making of such repairs shall reasonably interfere with the business carried on by Tenant in the Premises as determined by Landlord. If the damage is due to the fault or neglect of Tenant or its employees, as determined by Landlord in its sole discretion, there shall be no reduction of rent. Landlord may authorize or direct construction of an alternative structure or may elect to retain any insurance proceeds received by it if Landlord deems reconstruction or construction of an alternative structure to be impractical or unreasonable in its sole discretion. b. In the event the Premises are damaged to any extent as a result of any cause other than the perils covered by fire and extended coverage insurance, Landlord shall in its sole discretion have the option to: (1.) to repair, reconstruct or restore the Premises within a reasonable time of the event causing the damage, in which case this Lease shall continue in full force and effect, but the rent shall be proportionately reduced as provided above in 11a. during the period of such repair, reconstruction or restoration, or (2.) to give notice to Tenant at any time within sixty (60) days after such damage occurs, terminating this Lease as of the date specified in such notice, which date shall be no more than thirty (30) days after the giving of such notice. In the event of giving to Tenant such notice of termination, this Lease shall terminate and all interests of Tenant in the Premises shall cease on the date so specified in such notice and Tenant shall pay the rent, as proportionately reduced, based upon the extent, if any, to which such damage interfered with the business carried on by Tenant in the Premises, up to the date of such termination. c. With regard to Landlord’s duty or option to repair, reconstruct or restore the Premises within a reasonable time of the event causing the damage as provided in 11a. and b. above, Landlord shall act promptly and with due diligence, but Landlord shall not be responsible for delays caused by factors beyond Landlord’s control, including but not limited to delays because of strikes, work slowdowns or stoppages, accidents, acts of God, failure of any governmental or other authority to act in a timely manner, or delays caused by contractors. If such delays occur, Tenant agrees that Landlord shall not be responsible for damages, nor shall Landlord be deemed to be in default under this Lease. d. Landlord shall not be required to repair any damage by fire or other casualty, or to make any repair or replacements of any leasehold improvements, fixtures, or other personal property of Tenant.

  • Condition of the Premises Tenant has examined the Premises, including the appliances and fixtures (☐ and furnishings), and acknowledges that they are in good condition and repair, normal wear and tear excepted, and accepts them in its current condition, except for: