This office lease form is a standard default remedy clause, providing for the collection of the difference between the rent due and owing under the lease and the rents collected in the event of mitigation.
Missouri Default Remedy Clause
Category:
State:
Multi-State
Control #:
US-OL14031
Format:
Word;
PDF
Instant download
Description
How to fill out Default Remedy Clause?
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FAQ
Creditors in Missouri must send consumers a notice called the ?Notice of Default and Right to Cure? before they can repossess a vehicle. This notice can only be sent after the consumer has been in default for 10 days or more and it also provides them with a period of 20 days to cure the default.
? A default judgment may be entered in favor of a party filing a claim upon appearance by such party in person or by attorney upon written oath made by such party or upon such evidence as may be determined by the judge when the opposing party has been duly and timely served with summons and does not appear in court on ...
This notice can only be sent after the consumer has been in default for 10 days or more and it also provides them with a period of 20 days to cure the default. If the consumer can pay off their balance within 20 days, their vehicle will be safe from repossession.
In addition to any other right under law to rescind a contract, an owner has the right to cancel a contract until midnight of the third business day after the day on which the owner signs a contract which complies with section 407.938.
The legal right to cure is a principle founded in contract law that allows one party in a contract, who has defaulted under a contract provision, to remedy their default by taking steps to ensure compliance or otherwise, cure the default.
In addition to any other right under law to rescind a contract, an owner has the right to cancel a contract until midnight of the third business day after the day on which the owner signs a contract which complies with section 407.938.
Until expiration of the minimum applicable period after the notice is given, the borrower or cosigner may cure all defaults consisting of a failure to make the required payment by tendering the amount of all unpaid sums due at the time of the tender, without acceleration, plus any unpaid delinquency or deferral charges ...
