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Contract for the Lease and Mandatory Purchase of Real Estate -...

Real Estate Force Majeure Clause In Michigan

Category:

Landlord Tenant - Residential Leases - Purchase Options

State:

Multi-State

Control #:

US-00120

Format:

Instant download

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Description

This form is a contract for a lease and a manadatory purchase of real estate. Seller demises and leases to purchaser and purchaser takes and rents from seller certain real property described in the form. Purchaser agrees not to use or permit the use of the property for an illegal purpose. An auction, fire or going out of business or bankruptcy sale, may not be conducted in the property without prior written consent of the seller.

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Neither Party shall be liable for failure of or delay in performing obligations set forth in this Agreement, and neither shall be deemed in breach of its obligations, if such failure or delay is due to natural disasters or any causes beyond the reasonable control of either Party.

These may include earthquakes, floods, fire, plague, Acts of God (as defined in the contract or in applicable law) and other natural disasters. These are events which are not within the control of the Host Government.

Nevertheless, THE FORCE MAJEURE EVENT has severely limited _____________'s ability to PERFORM OBLIGATIONS UNDER THE CONTRACT to the point where invoking force majeure is necessary. ingly, we write to request NATURE OF RELIEF SOUGHT due to the unforeseen impact of THE FORCE MAJEURE EVENT.

Here is an example of a force majeure clause template: Force Majeure: Neither party shall be liable for any failure or delay in performance under this Agreement due to causes beyond its reasonable control, including but not limited to acts of God, government restrictions, wars, insurrections, or natural disasters.

“Force Majeure” means: hurricanes, floods, extreme weather, earthquakes, fire, or other acts of God, unusual transportation delays, or wars, insurrections, or acts of terrorism, which, by exercise of reasonable diligent effort, the non-performing party is unable in whole or in part to prevent or overcome.

Because the concept is foreign, lawyers who review or draft contracts governed by U.S. law should start with the assumptions that 1) principles of force majeure will not be implied in a contract that does not expressly provide for them, and 2) U.S. courts will interpret and apply force majeure provisions narrowly.

In real estate, force majeure refers to a contractual clause that allows parties to suspend or terminate their obligations when certain events beyond their control occur, making performance inadvisable, commercially impracticable, illegal, or impossible.

Sample Language 3 The Parties hereby acknowledge that while current events related to the current epidemic/pandemic are known, future impacts of the outbreak are unforeseeable and shall be considered a Force Majeure event to the extent that they prevent the performance of a Party's obligations under this Agreement.

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Michigan does not recognize force majeure as a common law defense. Therefore, a party may use this defense only if its contract includes a force majeure clause.A force majeure provision is a clause that actually removes a party's liability for natural or unavoidable catastrophes. Force majeure clauses allow a party to leave a contract temporarily or permanently, in whole or in part, for catastrophes that were not foreseeable. This clause allows both parties to the contract to be excused from their obligations if they cannot fulfill them due to an extraordinary event. Contractual force majeure provisions allocate risk of nonperformance due to events beyond the parties' control. The occurrence of a force majeure. Both the trial and appellate courts denied Kyocera's effort to invoke the force majeure clause,. Cf. Flathead-Michigan I, LLC v. The. An important element is often the external nature of the event.

Real Estate Force Majeure Clause In Michigan

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