This office lease clause is a condemnation clause that illustrates a mild effort to deal with some of the issues In the event the whole of the building or a substantial part of the building is condemned.
New York Condemnation Clause
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US-OL11015A
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FAQ
In contrast to condemnation cases, in which it is presumed that the government has taken something for which it must pay just compensation, regulatory takings cases often focus on two factors: whether the regulations leave the owner with an economically viable use of property or interfere with the owner's investment- ...
The 1966 deed in the chain of title to the subject property contained a dollar condemnation clause, providing that the landowner was limited to the sum of one dollar compensation for acquisition by condemnation of any portion of the subject property lying within the bed of, inter alia, a mapped street on the then- ...
A municipal corporation authorized by law to take and hold real property for the uses and purposes of the corporation, may, if it is unable to agree with the owners for the purchase thereof, acquire title to such property by condemnation.
Eminent domain is the right of the government to take private property and convert it to public use. Condemnation is the process by which a government agency can exercise this power. These processes are rooted in the Constitution. The Fifth Amendment requires government to pay landowners ?just compensation.?
Tenant shall have no claim against the condemning authority, Landlord, or otherwise, for any portion of the amount that may be awarded as damages as a result of such taking or condemnation or for the value of any unexpired term of this lease; provided, however, that Landlord shall not be entitled to any separate award ...
Condemnation in the legal sense refers to when a government exercises its eminent domain powers to seize private property for public use. Both local/state governments and the Federal Government have the authority to condemn property.
The Takings Clause of the Fifth Amendment to the United States Constitution reads as follows: ?Nor shall private property be taken for public use, without just compensation.? In understanding the provision, we both agree that it is helpful to keep in mind the reasons behind it.
Also known as the "Takings Clause," it states: "nor shall private property be taken for public use, without just compensation." This provision does not prohibit the United States from acquiring property from private owners, but rather conditions such 'taking' on the payment of just compensation.