This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated.
New Mexico Conditional Limitation of Tenant Liability Good Guy Provision
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FAQ
The New Mexico Statutes Annotated is the official codification of New Mexico's laws. Session Laws are a collection of the laws passed in a particular legislative session, in the order they were passed. Statutes are laws enacted by legislative bodies. New Mexico Legal Research Guide: Legislative Statutes unm.edu ? c.php unm.edu ? c.php
A limitation of liability clause is a contractual provision that restricts the type and amount of liability that one party (the offending party) assumes when it directly or indirectly causes another party (the injured party) to experience losses in connection with their contractual relationship.
A Good Guy Clause, (?GGC?) is a lease provision typically found in commercial leases that allows a landlord to release a tenant from liability in the event the tenant does not complete the lease period.
A typical good guy guarantee requires a creditworthy tenant (usually principal in the tenant's business) to guarantee the rent obligations under the lease through the date the tenant surrenders the leased space back the landlord. Good guy guarantees in lease agreements are personal guarantees that are limited.
Section 47-8-37 - Notice of termination and damages. A. The owner or the resident may terminate a week-to-week residency by a written notice given to the other at least seven days prior to the termination date specified in the notice.
In multi-unit housing, if there is separate utility metering for each unit, the resident shall receive a copy of the utility bill for his unit upon request made to the owner or his agent. If the unit is submetered, the resident shall then be entitled to receive a copy of the apartment's utility bill. New Mexico Statutes Section 47-8-20 (2021) - Obligations of owner. justia.com ? codes ? chapter-47 ? article-8 ? s... justia.com ? codes ? chapter-47 ? article-8 ? s...
Section 47-8-18 - Deposits. A. An owner is permitted to demand from the resident a reasonable deposit to be applied by the owner to recover damages, if any, caused to the premises by the resident during his term of residency. New Mexico Statutes Section 47-8-18 (2021) - Deposits. - Justia Law justia.com ? codes ? chapter-47 ? article-8 ? s... justia.com ? codes ? chapter-47 ? article-8 ? s...
If rent is unpaid when due and the resident fails to pay rent within three days after written notice from the owner of nonpayment and his intention to terminate the rental agreement, the owner may terminate the rental agreement and the resident shall immediately deliver possession of the dwelling unit; provided that ... New Mexico Statutes Section 47-8-33 (2021) - Breach of agreement by ... justia.com ? codes ? chapter-47 ? article-8 ? s... justia.com ? codes ? chapter-47 ? article-8 ? s...
