This office lease provision states that the landlord has the right to cancel the lease after the expiration of the first sixty (60) months of the initial term of the lease by giving the tenant at least one hundred and twenty (120) days prior notice of such cancellation.
Guam Simple Cancellation Provisions for Landlord: When it comes to rental agreements in Guam, landlords may include simple cancellation provisions to protect their interests. These provisions outline the circumstances under which either party can terminate the lease agreement. Here is a detailed description of what Guam simple cancellation provisions for landlords entail: 1. Definition: Guam simple cancellation provisions for landlords refer to the clauses included in rental agreements that allow either the landlord or the tenant to terminate the lease under certain conditions. 2. Grounds for termination: The simple cancellation provisions may outline specific scenarios that would warrant termination. For instance, non-payment of rent, violation of lease terms, breach of agreement, property damage, or illegal activities are common grounds for termination. 3. Notice period: The cancellation provisions usually state the notice period required for termination. It allows the landlord or tenant sufficient time to make necessary arrangements. For example, a notice period of 30 days or 60 days is typically included, depending on the lease duration and rental agreement terms. 4. Written notice: The provisions may specify that all cancellations must be in writing. This ensures that both parties have documented proof of the intent to terminate the lease and helps to avoid any misunderstandings. 5. Tenant obligations: The cancellation provisions may emphasize the tenant's responsibilities before vacating the property. This might include clearing any outstanding rent, settling utility bills, and returning the property in a reasonably clean and undamaged condition. Different Types of Guam Simple Cancellation Provisions for Landlords: While the basic concept of simple cancellation provisions remains the same for all rental agreements in Guam, there might be variations or additional clauses depending on the agreement type and specific agreements made between the landlord and tenant. Some common types of Guam simple cancellation provisions for landlords include: 1. Fixed-term lease cancellation provision: This provision allows either the landlord or tenant to terminate the lease before the agreed-upon fixed term by providing notice as stated in the agreement. 2. Month-to-month lease cancellation provision: These provisions apply to rental agreements where the lease term extends on a month-to-month basis. They typically require a notice period of 30 days to terminate the lease. 3. Early termination clause: Some rental agreements may include an early termination clause, which allows termination of the lease before the agreed-upon period but requires the payment of a specified penalty, such as a certain amount of rent or compensation to the landlord. 4. Rental agreement-specific provisions: Landlords may include additional provisions specific to their rental agreements, such as renewal terms, subletting permissions, or conditions for lease termination in case of property sale or remodeling. In conclusion, Guam simple cancellation provisions for landlords in rental agreements protect both parties' interests by outlining grounds for termination, notice periods, and responsibilities. Various types of provisions may exist, including fixed-term lease cancellations, month-to-month provisions, early termination clauses, and rental agreement-specific provisions.
