This office lease form describes the provision used when under certain circumstances, the landlord is unable to give possession of the demised premises on the date of the commencement of the term.
Kentucky Standard Provision Used When Delivery of the Premises Is Delayed: In Kentucky, a standard provision is often included in lease agreements to address situations where the landlord is unable to deliver the premises to the tenant within the agreed-upon timeframe. This provision, commonly known as "Delayed Delivery of Premises," safeguards the rights and obligations of both parties involved. When drafting lease agreements in Kentucky, landlords often include specific clauses to address delays in delivering the premises. Here are some common types of Kentucky Standard Provisions Used When Delivery of the Premises Is Delayed: 1. Delayed Delivery Compensation: This provision outlines the compensation or rent adjustments that will be provided to the tenant in case of a delay in delivering the premises. It may specify a daily or weekly rental credit that the tenant will receive until the premises become available. 2. Alternate Accommodations: If the delivery of the premises is delayed, this provision allows landlords to provide the tenant with temporary alternate accommodations during the delay period. It may outline the specifications and duration of the alternate accommodations, ensuring that the tenant has a suitable place to stay until the original premises are available. 3. Termination and Refund: In some cases, the tenant may have the right to terminate the lease agreement and receive a refund of any payments made if the delivery of the premises is significantly delayed. This provision stipulates the conditions under which termination and refund are permitted, including specific timeframes and notice requirements. 4. Extension of Lease Term: Instead of terminating the agreement, this provision allows for an extension of the lease term to compensate for the delay in delivery of the premises. It may specify the duration of the extension and any associated adjustments in rent or terms. 5. Notice Requirements: To ensure proper communication between the parties, this provision outlines the notice requirements for both the landlord and tenant in case of a delayed delivery. It may specify the method of communication, timeframes for notice, and the consequences of failing to provide timely notice. 6. Force Mature Clause: While not specific to delayed delivery, a force majeure clause may be included in the lease agreement to address unforeseen circumstances that can cause delivery delays. This provision relieves both parties from liability or obligations resulting from events beyond their control, such as natural disasters, government actions, or labor strikes. When landlords and tenants agree to use the Kentucky Standard Provisions, it ensures that they are aware of their rights and responsibilities when faced with delayed delivery of the premises. It is crucial for both parties to carefully review and negotiate these provisions before signing the lease agreement to protect their interests in such situations.
