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Contracts Keyed to Knapp
Joyner v. Adams
Facts
Plaintiff leased property to Brown. The property was to be subdivided and the rent would increase over the term of the lease. In 1975, Brown had some financial difficulties so Defendant was substituted. The rent increase was suspended for a time to allow Defendant to subdivide the property. Defendant was to complete the subdivision during the suspension of the rate increase. If the subdivision was not completed, Defendant would be liable for the rent increases that would have occurred during the suspension. At the end of the suspension, all of the lots but one had buildings and separate lot leases. The remaining lot had been graded, had water and sewer lines, and all driveways and roads leading to the lot were built. The parties disagree as to whether Defendant met the subdivision requirement of completed development for suspending the lease.
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