This office lease form describes the provision used when under certain circumstances, the landlord is unable to give possession of the demised premises on the date of the commencement of the term.
Indiana Standard Provision Used When Delivery of the Premises Is Delayed In Indiana, there are standard provisions used in lease agreements to address situations where the delivery of the premises is delayed. These provisions provide clarity and protection for both the landlord and tenant when unforeseen circumstances cause a delay in occupancy. Here are the different types of Indiana standard provisions used when delivery of the premises is delayed: 1. Force Mature Clause: This provision is included in lease agreements to account for circumstances beyond the control of the landlord or tenant that may cause a delay in delivering the premises. Common examples of force majeure events include natural disasters, acts of God, labor strikes, government actions, or other unforeseen and unavoidable events. It excuses the responsible party from liability due to delayed possession. 2. Delivery Date Extension: This provision allows the landlord to extend the delivery date of the premises if specific conditions or events occur. It establishes a timeline for the landlord to furnish the property and provides guidelines for the tenant to receive notice of any proposed extensions. The provision should outline the steps and timeframe required for notifying the tenant about the delay and the new expected delivery date. 3. Rent Abatement: In the event of a delayed delivery, the landlord may provide a rent abatement provision to compensate the tenant for the period of delay. This provision may stipulate a reduced or waived rent payment for the duration of the delay, ensuring the tenant is not responsible for paying rent for a property they cannot yet occupy. 4. Right to Termination: An Indiana standard provision may allow the tenant to terminate the lease agreement if the delivery of the premises is substantially delayed. This provision provides a timeframe for the tenant to notify the landlord of their intent to terminate the lease. It should clearly outline the rights and obligations of both parties upon termination, including the return of any deposits or prepaid rent. 5. Alternative Accommodation: If there is a significant delay in delivering the premises, the landlord may be required to provide alternative accommodation for the tenant during the delayed period. This provision ensures that the tenant has a place to stay while waiting for the premises to become available. It should specify the quality and suitability of the alternative accommodation and any additional costs borne by the landlord. It is crucial for both landlords and tenants to carefully review and understand these Indiana standard provisions used when delivery of the premises is delayed. These provisions are designed to protect the rights and interests of both parties and provide a fair resolution if unexpected delays occur.
