Mississippi State University Residential Rental Agreement Template (Page 3 of 8) in pdf

SECTION 10. Landlord agrees to keep the building improvements erected on the

demised premises insured against loss or damage by fire and all standard extended

coverage perils for the full, fair insurable value thereof in a solvent and responsible

company or companies authorized to do business in the State of Mississippi.

SECTION 11. At the expiration of the tenancy hereby created and any extended

term thereof, Tenant shall surrender the Rental premises in the same condition as the

Rental premises were in upon delivery of possession thereto under this Rental, reasonable

wear and tear excepted, and damage by unavoidable casualty excepted, and Tenant's

obligation to observe or perform this covenant shall survive the expiration or other

termination of this Rental.

SECTION 12. The Landlord covenants to keep and maintain, at Landlord's

expense, said demised premises and facilities in a state of tenantable repair during the

term of the Rental; provided, however, that Landlord shall not be called upon to make

any such repairs occasioned by the acts of negligence of the Tenant, its agents, patrons, or

employees, except where covered under Landlord's fire and extended coverage insurance.

SECTION 13. Should the demised office building be totally or substantially

destroyed by fire, the elements or otherwise, so as to render the demised office building

untenable, either party shall have the option to cancel the remaining portion of this Rental

for any extended term or period hereof. Tenant shall have no obligation to pay rent of any

nature so long as the demised office building is untenable.

SECTION 14.

a. Failure on the part of the Tenant to pay any installment of rent as above set out

as and when the same becomes due and payable, or failure of Tenant promptly and

faithfully to keep and perform each and every covenant agreed and stipulated herein on

the part of the Tenant to be kept and performed, shall, at the option of the Landlord, cause

a forfeiture of this Rental.

b. Nothing contained in the foregoing shall be construed to waive either party's

right to cancel this Rental in the event of any forfeiture or breach on the part of the other

party hereto, all of which rights or cancellation are herein specifically reserved.

c. Prior to a declaration of forfeiture for default in payment of rent or additional

rent, Landlord shall give to Tenant a Notice in writing thirty (30) days prior thereto in the

manner provided by Section 6 hereof, during which time Tenant may purge itself on the

grounds of forfeiture by paying such rent.

d. As to default by Tenant in performing covenants other than for payment of rent

prior to a declaration of forfeiture, Landlord shall give to Tenant a notice in writing 30

days prior thereto in the manner provided for by Section 6 during which time Tenant may

purge itself on the grounds of forfeiture by curing the stated grounds of forfeiture within

Mississippi State University Residential Rental Agreement Template Page 3