554.13528 Lessor’s damages for nonacceptance, failure to pay, repudiation, or other default. 1. Except as otherwise provided with respect to damages liquidated in the lease agreement (section 554.13504) or otherwise determined pursuant to agreement of the parties (sections554.1302 and 554.13503), if a lessor elects to retain the goods or a lessor elects to dispose ofthe goods and the disposition is by lease agreement that for any reason does not qualify fortreatment under section 554.13527, subsection 2, or is by sale or otherwise, the lessor mayrecover from the lessee as damages for a default of the type described in section 554.13523,subsection 1, or section 554.13523, subsection 3, paragraph 'a', or, if agreed, for other defaultof the lessee, a. accrued and unpaid rent as of the date of default if the lessee has never taken possession of the goods, or, if the lessee has taken possession of the goods, as of the date the lessorrepossesses the goods or an earlier date on which the lessee makes a tender of the goods tothe lessor, b. the present value as of the date determined under paragraph 'a' of the total rent for the then remaining lease term of the original lease agreement lessee makes a tender of the goods tothe lessor, b. the present value as of the date determined under paragraph 'a' of the total rent for the then remaining lease term of the original lease agreement minus the present value as ofthe same date of the market rent at the place where the goods are located computed for thesame lease term, and c. any incidental damages allowed under section 554.13530, less expenses saved in consequence of the lessee’s default. 2. If the measure of damages provided in subsection 1 is inadequate to put a lessor in as good a position as performance would have, the measure of damages is the presentvalue of the profit, including reasonable overhead, the lessor would have made from fullperformance by the lessee, together with any incidental damages allowed under section554.13530, due allowance for costs reasonably incurred and due credit for payments orproceeds of disposition. 94 Acts, ch 1052, §80; 2007 Acts, ch 41, §39; 2013 Acts, ch 30, §157Referred to in §554.13507, 554.13523, 554.13527, 554.13529 Sat Dec 23 11:03:43 2023 Iowa Code 2024, Section 554.13528 (24, 0)
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