This office lease clause is the short form for dealing with the destruction of the premises and the conditions and obligations of the landlord to restore and accommodate the tenants.
Delaware Destruction Clause Short Form City Lease
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US-OL11024C
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How to fill out Destruction Clause Short Form City Lease?
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FAQ
A restoration clause will state if you need to remove any alterations you made to the property before you leave it. Restoring the space could be costly. You will likely have to pay for the removal of the improvements and restoration of the space.
Lessee shall assume and bear the risk of loss, theft and damage (including any governmental requisition, condemnation or confiscation) to the Equipment and all component parts thereof from any and every cause whatsoever, whether or not covered by insurance.
Diminution in the value of the Premises, and damages for the loss of business and restriction on the use of or adverse impact on the marketing of rentable or usable space or of any amenity of the Premises.
What is a Demolition Clause? A demolition clause gives your landlord the option to terminate your lease upon a certain amount of notice. When the notice period runs out, you are forced to move out. Notice periods are generally mere months or maybe a year.
The Casualty (or Damage & Destruction) clause of a lease dictates what is to occur between the parties in the event the Building, Project or Premises is damaged due to a fire or other casualty (i.e., a natural disaster).