This office lease clause is a condemnation clause that illustrates a mild effort to deal with some of the issues In the event the whole of the building or a substantial part of the building is condemned.
The Franklin Ohio Condemnation Clause is a legal provision included in property contracts and agreements within the city of Franklin, Ohio. This clause addresses the rights and responsibilities of property owners in cases where their property is subjected to condemnation or eminent domain. In simple terms, condemnation refers to the government's power to take private property for public use while providing just compensation to the affected property owner. The Franklin Ohio Condemnation Clause specifies the specific conditions and procedures that should be followed if the property falls under this category. The Condemnation Clause serves as a safeguard for property owners against unfair acquisition of their land while ensuring that just compensation is received. It outlines the rights and obligations of both the property owner and the government entity involved in the condemnation process. Some keywords relevant to the Franklin Ohio Condemnation Clause may include: — Condemnation: The act of the government acquiring private property for public use. — Eminent Domain: The legal authority that allows the government to take private property for public purposes. — Property Rights: The legal rights individuals have to use and control their property. — Just Compensation: Fair and full payment to property owners for their land, usually determined based on the property's market value. — Public Use: The purpose for which the government takes private property, such as building public infrastructure or community projects. — Acquisition Process: The series of procedures and steps followed by the government when acquiring private property for public use. Different types of Condemnation Clauses that might be present in Franklin, Ohio contracts include: 1. Mandatory Condemnation Clause: Outlines that if the property is subject to condemnation, the property owner must comply with lawful orders and negotiate in good faith. 2. Just Compensation Clause: Specifies that the property owner is entitled to receive fair and just compensation in case of condemnation, ensuring they are adequately compensated for their property's market value. 3. Notice and Hearing Clause: Requires that the government entity provide the property owner with formal notice and an opportunity to be heard before initiating the condemnation process. 4. Moratorium Clause: Provides the property owner with temporary relief from the condemnation process, allowing them to explore other options or negotiate a fair settlement. 5. Dispute Resolution Clause: Establishes a mechanism for resolving any conflicts or disagreements that may arise during the condemnation process, such as mediation or arbitration. It is crucial for property owners in Franklin, Ohio, to carefully review and understand the Condemnation Clause in their contracts to protect their rights and ensure they receive just compensation in cases of condemnation.
