Terms of Agreement:
"This agreement shall be for an initial term of five (5) years commencing on the Effective Date and thereafter shall automatically renew for five (5) successive year periods unless terminated in writing by either party at least 90 days prior to the end of the initial term or subsequent renewal terms or as otherwise provided herein."
If your contract date is 9/23/1997... Owner calls to cancel on 9/15/2015...
1.) Is the owner still obligated to pay "Breach of Contract" fees or would they be cleared of the contractual obligation after 10 years?
2.) After the 10th year would the contract automatically become void?
3.) Or would it keep auto renewing on 9/23 for another year unless cancelled 90 days prior?
This became a month to month tenancy after 10 years. 15 days notice prior to termination is all that is required.
This became a month to month tenancy after 10 years. 15 days notice prior to termination is all that is required.
