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Fill and Sign the Full Text of Ampquotthe Housing Problem Its History Growth Form

Fill and Sign the Full Text of Ampquotthe Housing Problem Its History Growth Form

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10.03 Example 1: Tenant's Self-help ClauseOne particular self-help clause that seems to have satisfied both landlords and mortgagees contemplates a tenant's self-help right in an emergency, as well as in a nonemergency. In the latter case, the self-help right can be exercised only after a long term notice. Protection to the mortgagee results from the fact that the lease may not be terminated. In the event that the sums expended by the tenant are substantial, the same are subject to negotiation unless the tenant brings an action for judgment and receives a final nonappealable judgment and order from the court. This gives the landlord and mortgagee plenty of time to dispute the rationale and the underlying basis for a utilization of self-help as well as the reasonableness of the charges for which the tenant is seeking reimbursement. The clause is as follows: (a) If Landlord shall default in the observance or performance of any term or covenant on Landlord's part to be observed or performed under any of the terms or provisions of this Lease: (i) Tenant shall have the right to remedy such default for the account of Landlord, immediately and without notice in case of emergency, or in any non-emergency case if Landlord shall fail to remedy such default within twenty (20) days after Tenant has notified Landlord in writing of such default or, in the case of a default which cannot with due diligence be cured within a period of twenty (20) days, Landlord shall not have duly instituted within said twenty (20) day period, and thereafter diligently and continuously prosecuted to completion, all steps necessary to remedy the same; and (ii) if Tenant makes any expenditures or incurs any obligations for the payment of money in connection with such default, including without limitation, reasonable attorneys' fees in instituting, prosecuting or defending any action or proceeding, such sums paid or obligations incurred, with interest at the Interest Rate (hereafter defined) from the date paid or incurred, shall be paid by Landlord to Tenant within fifteen (15) Business Days (hereafter defined) after rendition of a bill to Landlord therefor. If Tenant obtains a final nonappealable judgment from a court of competent jurisdiction (or an arbitration in accordance with Article 23 hereof) holding that such sums are due Tenant in accordance with this Section 10.01(a), and Landlord fails to pay the same to Tenant within fifteen (15) Business Days thereafter, Tenant may deduct the amount thereof from the next accruing installments of Base Rent and Additional Rent hereunder. (b) The provisions of this Article 10 shall survive the expiration or other termination of this Lease.

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