Constructive Possession. To be in Constructive Possession of a Unit means having possession of Unit keys, regardless of whether or not the student is physically occupying the space.
Constructive Possession of the Leased Property shall be transferred to the Lessee on the date of the signing of this Agreement, with the Leased Property in its then current state, AS IS. Electricity, water and other meter readings (insofar as any such meters exist) shall be performed on the Date of Transfer of Constructive Possession.
Constructive Possession. Alternatively, the Lessor may, at its option deem the property abandoned and immediately become the owner thereof or, without notice, and without legal process, sell the property or any part thereof at a public or private sale for such price as the Lessor may obtain, and apply the proceeds of the sale first to the expenses incident to removal and sale of said property and then to any amounts due under this Lease. Should notice of sale be required by laws, then three (3) days notice shall be deemed commercially reasonable and sufficient. If the Lessee is in default, the Lessor shall have a lien on said personal property and movable trade fixtures as security for all sums due from the Lessee to the Lessor and shall have the right to sell said property as above provided unless there is then a legally enforceable lien on the same superior to the rights of the Lessor in said property.
