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.
When entering into a lease agreement, it is important to thoroughly understand the provisions and conditions associated with the delivery of the premises. In Vermont, there are standard provisions used when the delivery of the premises is delayed, which aim to protect both landlords and tenants. These provisions typically outline the rights and responsibilities of each party in case of a delay in the availability of the leased premises. One common provision used in Vermont lease agreements is the "Delivery of Premises Delayed" clause. This clause addresses the potential scenario where the landlord is unable to deliver the premises to the tenant on the agreed-upon date. It sets forth the actions to be taken by both parties in such a situation. The specific terms and conditions of the "Delivery of Premises Delayed" provision may vary depending on the lease agreement, but some common elements include: 1. Notification: The provision typically requires the landlord to promptly notify the tenant in writing regarding any delay in delivering the premises. This ensures that the tenant is aware of the situation and can plan accordingly. 2. Cure Period: The provision may specify a cure period, allowing the landlord a certain amount of time to rectify the delay and deliver the premises. This period is usually reasonable and allows the landlord adequate time to address any issues causing the delay. 3. Tenant's Options: The provision often grants the tenant certain options if the delivery of the premises is delayed beyond the specified cure period. These options may include terminating the lease agreement without any penalties or fees, or extending the commencement date of the lease term to accommodate the delay. 4. Rent Adjustment: If the tenant chooses to proceed with the lease despite the delay, the provision may address the adjustment of rent for the period of delay. This adjustment could involve a pro rata reduction in rent or the extension of the lease term to compensate the tenant for the inconvenience caused. 5. Force Mature: In some cases, the provision may include a force majeure clause, which protects both parties from liability or penalties in the event of unforeseeable circumstances beyond their control. Such circumstances may include natural disasters, acts of terrorism, or other events that prevent the timely delivery of the premises. It is important for both landlords and tenants to carefully review and understand the "Delivery of Premises Delayed" provision in their lease agreements in Vermont. By doing so, they can effectively navigate any potential delays and ensure their rights and obligations are properly addressed. In summary, the "Delivery of Premises Delayed" provision is a standard clause in Vermont lease agreements that outlines the rights and responsibilities of landlords and tenants when there are delays in delivering the leased premises. Understanding this provision can help both parties navigate potential issues and find appropriate solutions during the lease term.
