Common use of DAMAGE OR DESTRUCTION OF PREMISES Clause in Contracts

DAMAGE OR DESTRUCTION OF PREMISES. In the event of damage to the PREMISES by fire, water, or other hazard, or in the event of malfunction of equipment or utilities, RESIDENT shall immediately notify MANAGEMENT. If the damages are such that occupancy can be continued, MANAGEMENT shall make repairs as needed with reasonable promptness and rent shall not xxxxx during the period of such repairs. If, in MANAGEMENT’S opinion and subject to Section 55-248.24 of the Code of Virginia, the PREMISES are damaged as to be unfit for occupancy, but if MANAGEMENT elects to make repairs, the rent provided in this LEASE shall xxxxx during the period of time when the PREMISES are not fit for occupancy, but in all other respects the terms and provisions hereof shall continue in full force and effect. In the event the PREMISES are so damaged or destroyed as to be, in the sole opinion of the MANAGEMENT, incapable of being satisfactorily repaired, then this LEASE shall terminate and RESIDENT shall be liable only for rental payments up to the date of such damage or destruction; or, at the option of MANAGEMENT, RESIDENT agrees to accept a comparable apartment unit in the Apartment Community for the remaining term of this LEASE.

DAMAGE OR DESTRUCTION OF PREMISES. In the event of damage to the PREMISES by fire, water, or other hazard, or in the event of malfunction of equipment or utilities, RESIDENT shall immediately notify MANAGEMENT. If the damages are such that occupancy can be continued, MANAGEMENT shall make repairs as needed with reasonable promptness and rent shall not xxxxx during the period of such repairs. If, in MANAGEMENT’S opinion and subject to Section 5555.1-248.24 1240 of the Code of Virginia, the PREMISES are damaged as to be unfit for occupancy, but if MANAGEMENT elects to make repairs, the rent provided in this LEASE shall xxxxx during the period of time when the PREMISES are not fit for occupancy, but in all other respects the terms and provisions hereof shall continue in full force and effect. In the event the PREMISES are so damaged or destroyed as to be, in the sole opinion of the MANAGEMENT, incapable of being satisfactorily repaired, then this LEASE shall terminate and RESIDENT shall be liable only for rental payments up to the date of such damage or destruction; or, at the option of MANAGEMENT, RESIDENT agrees to accept a comparable apartment unit in the Apartment Community for the remaining term of this LEASE.