What does the “Casualty Provision” in a lease typically address?

The "Casualty Provision" in a lease specifically deals with situations where the leased property experiences damages or destruction due to unforeseen events, such as fire or natural disasters. This provision outlines the responsibilities of both the landlord and the tenant in such scenarios. It typically specifies what happens to the lease in the event of significant damage, including whether the tenant is still required to pay rent, how repairs will be handled, and if the tenant has the option to terminate the lease if the property is deemed uninhabitable. This provision ensures that both parties have a clear understanding of their rights and obligations in the unfortunate event that the property is compromised during the lease term.

Other options address different aspects of lease agreements, such as security deposits, lease termination rights, and late fee calculations, but they do not pertain to the specific subject of property damage or destruction, which is the focal point of the Casualty Provision.