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.
South Dakota Standard Provision Used When Delivery of the Premises Is Delayed: In South Dakota, when there is a delay in the delivery of a premise, several standard provisions are incorporated into contracts to address this situation. These provisions aim to protect the rights and interests of all parties involved and provide guidelines for handling such delays. One commonly used provision is the "Force Mature" clause. This clause allows for circumstances beyond the control of either party, such as natural disasters, government actions, or labor strikes, to be considered as valid reasons for delayed delivery. This provision helps protect the delivering party from liability in case of unforeseen events that hinder the timely delivery of the premises. Another common provision is the "Time Extension" clause. This clause provides a mechanism for extending the timeline for delivery of the premises. It specifies the conditions under which a delay is deemed acceptable and grants the delivering party the right to request an extension without facing legal consequences or breaching the contract. This provision ensures that both parties have flexibility in accommodating delays while maintaining contractual obligations. Additionally, the "Liquidated Damages" provision might be used in certain cases. This provision establishes a predetermined amount of damages that the defaulting party will have to pay if they fail to deliver the premises within the agreed-upon timeframe. The purpose of this provision is to provide compensation to the non-defaulting party for any losses or inconveniences incurred due to the delayed delivery. Lastly, the "Duty to Mitigate Damages" provision may also be included. This provision imposes a duty on the non-defaulting party to take reasonable measures to mitigate any damages caused by the delay in delivery. It encourages the non-defaulting party to seek alternative accommodations or arrangements to minimize the impact of the delay. These South Dakota Standard Provisions Used When Delivery of the Premises Is Delayed ensure that both parties are aware of their rights and obligations when facing delays in property delivery. It is essential for all parties involved to carefully review and understand these provisions to ensure a fair and informed contractual relationship.
