A covenant for renewal usually requires that the tenant shall give notice of his intention to take a renewal before the end of the existing term; and under such a requirement he loses his right if he fails to give the notice in time1. A notice given an unreasonable time in advance may be ineffective2. An option agreement must be strictly complied with3; thus, if the renewal is made conditional on the observance of his covenants by the tenant, that observance is a condition precedent to the right of renewal; and the right of renewal is not enforceable if
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