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.
Ohio Condemnation Clause
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US-OL11015A
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Ohio law consists of the Ohio Constitution, the Ohio Revised Code and the Ohio Administrative Code. The Constitution is the state's highest law superseding all others. The Revised Code is the codified law of the state while the Administrative Code is a compilation of administrative rules adopted by state agencies.
Section 5301.233 | Mortgage may secure unpaid balances of advances made.
If the owner does not make the repairs or vacate the property, the city or county may file a lawsuit to condemn the property. The lawsuit will go through the court system, and the judge will ultimately decide whether or not to condemn the property.
Section 5301.36 | Entry of satisfaction. (B) Within ninety days from the date of the satisfaction of a mortgage, the mortgagee shall record a release of the mortgage evidencing the fact of its satisfaction in the appropriate county recorder's office and pay any fees required for the recording.
Section 163.03 | Right of entry. Notice of such proposed entry shall be given to the owner or the person in possession by such means as are reasonably available not less than forty-eight hours nor more than thirty days prior to the date of such entry.
The signing shall be acknowledged by the grantor, mortgagor, vendor, or lessor, or by the trustee, before a judge or clerk of a court of record in this state, or a county auditor, county engineer, notary public, or mayor, who shall certify the acknowledgement and subscribe the official's name to the certificate of the ...
Where does the State of Ohio get the power of eminent domain? The Constitution of the United States and the Ohio Constitution both specifically authorize the taking of private property, both real and personal, for public use.
Inverse condemnation is a remedy for property owners when a government takes or damages a property for public use without having brought an eminent domain proceeding.