Commercial Lease Agreement C.a.r. Form Cl
(iii) The fairmarket Rent is set by the third arbitrator according to the following procedures. At the same time as the appointment of the third arbitrator, each of the arbitrators chosen by the parties must state in writing its provision of Fair Market Rent, which is supported by the reasons for that decision. The third arbitrator has the right to consult with experts and competent authorities on factual information or evidence relating to the determination of the Fair Market Rent, but any such finding is made in the presence of both parties (and their respective arbitrators) in the right to cross-examine the parties. The third arbitrator reasonably conducts such hearings and investigations and chooses, within thirty (30) days after his appointment, which of the two proposed conclusions of the first two (2) arbitrators is closest to his independent provision of the Fair Market Rent. The third arbitrator does not have the right to propose a middle ground or an amendment to one of the two proposed provisions. The provision he has chosen as the one most likely to adhere to his fair market rent provision is the decision of the third arbitrator and is final and binding on the parties. The third arbitrator makes the decision in writing, with counter-copies to each game. The third arbitrator is not entitled to complete or amend the terms of the lease. Upon receipt of the third arbitrator`s decision, the parties amend this lease, confirming the extension of the extension period and the confirmation of the base rent of the premises during the extension period, but the inability of the parties to do so has no bearing on the effectiveness of the third arbitrator`s decision. ☐ (i) The Tenant received a copy of the report at least 48 hours prior to the execution of this tenancy. The tenant does not have the right to revoke the lease on the basis of the information contained in the report. ☐ iii) The client did not receive a copy of the CASp report prior to the execution of the lease.
The lessor must provide, within 7 days of the execution of this lease, a copy of the report prepared by the CASp (and, if necessary, a copy of the certificate of inspection of access to disability). The tenant then has up to 3 days to revoke the lease based on the information contained in the report.