12 Miss. Code. R. 8-500.3 - MODIFICATION OF TERMS AND CONDITIONS

Terms and conditions of Lease Contracts shall remain in full force and effect throughout the Lease term and any/all subsequent renewals with the following exceptions:

(1) State or Federal Law: Passage of new, or modification to existing, State or Federal law impacting a provision of the Lease Contract or legal decision by which provision is held invalid. The invalidity of one provision shall not affect any other provision or application of these regulations which can be given effect without the invalid provision or application to this end as the provisions of these regulations are severable. To the extent that any new State or Federal law goes into effect during the Lease term impacting the terms and conditions of the Lease Contract, such law shall be binding on each party of the Lease Contract as applicable;

(2) Mutually Agreed Modifications: Where addition, deletion or modification of a term or condition other than amount of space or duration of term is identified following execution of the Lease Contract and Lessor and Lessee mutually agree to the change, such modification, subject to approval of PPRB, may be considered provided:

a. The modification was not anticipated prior to the execution of the Lease Contract.

b. The modification is either neutral or beneficial to the interest of the State; and,

c. Where the modification involves an increase in cost to the agency or department, documentation justifying amount of such increase shall be provided.

Notes

12 Miss. Code. R. 8-500.3

Adopted 3/16/2018