400.2A-529. Lessor's action for the rent.
Lessor's action for the rent.
400.2A-529. (1) After default by the lessee under thelease contract of the type described in section 400.2A-523(1) or400.2A-523(3)(a) or, if agreed, after other default by thelessee, if the lessor complies with subsection (2), the lessormay recover from the lessee as damages:
(a) for goods accepted by the lessee and not repossessed byor tendered to the lessor, and for conforming goods lost ordamaged within a commercially reasonable time after risk of losspasses to the lessee (Section 400.2A-219), (i) accrued and unpaidrent as of the date of entry of judgment in favor of the lessor,(ii) the present value as of the same date of the rent for thethen remaining lease term of the lease agreement, and (iii) anyincidental damages allowed under section 400.2A-530, lessexpenses saved in consequence of the lessee's default; and
(b) for goods identified to the lease contract if thelessor is unable after reasonable effort to dispose of them at areasonable price or the circumstances reasonably indicate thateffort will be unavailing, (i) accrued and unpaid rent as of thedate of entry of judgment in favor of the lessor, (ii) thepresent value as of the same date of the rent for the thenremaining lease term of the lease agreement, and (iii) anyincidental damages allowed under section 400.2A-530, lessexpenses saved in consequence of the lessee's default.
(2) Except as provided in subsection (3), the lessor shallhold for the lessee for the remaining lease term of the leaseagreement any goods that have been identified to the leasecontract and are in the lessor's control.
(3) The lessor may dispose of the goods at any time beforecollection of the judgment for damages obtained pursuant tosubsection (1). If the disposition is before the end of theremaining lease term of the lease agreement, the lessor'srecovery against the lessee for damages is governed by section400.2A-527 or section 400.2A-528, and the lessor will cause anappropriate credit to be provided against a judgment for damagesto the extent that the amount of the judgment exceeds therecovery available pursuant to section 400.2A-527 or 400.2A-528.
(4) Payment of the judgment for damages obtained pursuantto subsection (1) entitles the lessee to the use and possessionof the goods not then disposed of for the remaining lease term ofand in accordance with the lease agreement.
(5) After a lessee has wrongfully rejected or revokedacceptance of goods, has failed to pay rent then due, or hasrepudiated (Section 400.2A-402), a lessor who is held notentitled to rent under this section must nevertheless be awardeddamages for non-acceptance under sections 400.2A-527 and400.2A-528.
(L. 1992 S.B. 448)