Is a tenant entitled to relief from forfeiture if they fail to timely exercise an option to renew a commercial lease?

34. An analogous situation involves a tenant's failure to timely exercise its option to renew a commercial lease, in which case the tenant is not entitled to relief from forfeiture because a landlord's "refusal to give effect to an acceptance that is one minute late results in no forfeiture." Simons v. Young, 93 Cal.App.3d 170, 182 (1979) (quoting and adopting Sheveland v. Reed, 159 Cal.App.2d 820, 822 (1958)). In Simons v. Young, a tenant sought relief from forfeiture from the termination of a lease by expiration of its term when it sought to exercise an option to purchase after the deadline to exercise due to inadvertent neglect. Reversing the trial court, the appellate court held that allowing equitable relief in such situation would nullify the express terms of the contract regarding the timely exercise of the option.