I own a business in Shasta County and because of the economy I am having a hard time to pay bills, employees, etc. I still have a few years left on my contract. If i stop paying the rent on a monthly basis can I still be responsible for the remaining rents on the contract?
Here is what it says on the contract please read:
Breach of contract/early termination:
In the event prior to expiration of this agreemen, breaches any obligations in this agreement, abandons the premises, or gives notice of the tenant's intent to terminate this tenancy
prior to it's expiration, in addition in addition to any obligations established by paragraph 24, Tenant shal also be responsible for lost rent, rental comissions, advertising expenses, and painting costs necessary to ready
premises for re-rental. Landlord may also recover from Tenant; (i) the worth, at the time of award, of the unpaid Rent that had been earned at the time of termination; (ii) the worth. at the time of award, of the amount by which the unpaid Rent
that would have been earned after expiration untill the time of award exceeds the amount of such rental loss the Tenant proves could have been reasonably avoided; and (iii) the worth, at the time of award, of the amount by which the unpaid Rent
for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided. Landlord may elect to continue the tenancy in effect for so long as Landlord does not terminate Tenant's right to possession, by either
written notice of termination of possession or by relentin the premises to another who takes possesion, and landlord may enforce all landlord's rights and remedies under this agreement, including the right to recover the Rent as it becomes due.
P.S.the businesS Is for sale, it has been on the market for a couple of weeks now.
Thanks in advance,
Diego
Here is what it says on the contract please read:
Breach of contract/early termination:
In the event prior to expiration of this agreemen, breaches any obligations in this agreement, abandons the premises, or gives notice of the tenant's intent to terminate this tenancy
prior to it's expiration, in addition in addition to any obligations established by paragraph 24, Tenant shal also be responsible for lost rent, rental comissions, advertising expenses, and painting costs necessary to ready
premises for re-rental. Landlord may also recover from Tenant; (i) the worth, at the time of award, of the unpaid Rent that had been earned at the time of termination; (ii) the worth. at the time of award, of the amount by which the unpaid Rent
that would have been earned after expiration untill the time of award exceeds the amount of such rental loss the Tenant proves could have been reasonably avoided; and (iii) the worth, at the time of award, of the amount by which the unpaid Rent
for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided. Landlord may elect to continue the tenancy in effect for so long as Landlord does not terminate Tenant's right to possession, by either
written notice of termination of possession or by relentin the premises to another who takes possesion, and landlord may enforce all landlord's rights and remedies under this agreement, including the right to recover the Rent as it becomes due.
P.S.the businesS Is for sale, it has been on the market for a couple of weeks now.
Thanks in advance,
Diego
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