This office lease form is a standard default remedy clause, providing for the collection of the difference between the rent due and owing under the lease and the rents collected in the event of mitigation.
Colorado Default Remedy Clause
Category:
State:
Multi-State
Control #:
US-OL14031
Format:
Word;
PDF
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How to fill out Default Remedy Clause?
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FAQ
The Right to Cure Notice says that if you do not get caught up on your payments, ?cure your default,? the bank can begin foreclosure proceedings to take your house.
The actions permitted by a contract and applicable law that a party may take to protect and recover its property interests in the event of default of another party to the contract are default rights and remedies .
The Agreement has several available remedies for the buyer and seller in the event of default. The options include (1) declaring the Agreement null and void, (2) termination of the Agreement, (3) specific performance, and (4) stipulated damages.
Tenant Default means Tenant's default or failure or refusal to perform under this Agreement, and the continuance of such default or failure or refusal to perform for fifteen (15) days after Tenant has given Landlord Notice of such failure.
Section 5-2-212 - Surcharges on credit transactions - enforcement - definitions (1) (a) Except as otherwise provided in sections 24-19.5-103 (3) and 29-11.5-103 (3), a seller or lessor in any sales or lease transaction may impose a surcharge on a buyer or lessee who elects to use a credit or charge card in lieu of ...
(4) A notice of right to cure delivered or mailed to a cosigner pursuant to this section shall be modified to state that the consumer is late in making his or her payment, include the consumer's name, and that if the amount now due is not paid by the last date for payment, the creditor may exercise its rights against ...
?Curing? or ?remedying? the default means correcting the failure or omission. A common example is a failure to pay the rent on time.
Notice to Remedy Default means a written notice issued by the Contract Administrator setting out the nature of the Default committed and if the Default can be put right the action required to put it right and the timescale within which it is to be put right.
