Commercial Lease Extension

COMMERCIAL LEASE EXTENSION

THIS LEASE EXTENSION AGREEMENT (hereinafter referred to as the "Lease Extension") is made and entered into this ____________ day of ____________________________, 20____, by and between _____________________________________________________________________ (hereinafter referred to as "Landlord") and _____________________________________________________________________ (hereinafter referred to as “Tenant,” whether one or more, and each agreeing to be bound by and held jointly and severally liable under the terms and conditions of this Lease Extension).  

In consideration of the covenants and obligations contained herein and of other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1. PRIOR LEASE: The parties executed a Lease Agreement dated ________________________ (hereinafter “Lease Agreement”) with a term of lease commencing on the ____ day of ___________________, 20____, and which expires on the ____ day of ___________________, 20____.  All terms, conditions, and provisions of said Lease Agreement are hereby incorporated by reference or by attachment.

2. EXTENSION OF PRIOR LEASE TERM: The parties hereby agree to extend and continue the aforementioned Lease Agreement for an additional term, commencing on the ____ day of ________________, 20____, and expiring on the ____ day of _________________, 20____.

3. REVISED RENT PAYMENTS: The rent shall be payable in equal monthly installments of $_____________, payable on the ______ day of each month of the term.  The first full rent payment under this Lease Extension is due on the ______ day of ____________, 20____.

4. PRORATED RENT.  [choose one:]   ______Not applicable, or ______Tenant agrees to pay a prorated sum in the amount of $_______________ as rent to cover the period from the commencement of this Lease Extension until the _____ day of the following month.  This prorated rent shall be due at the execution of this Lease Extension.  Payment of rent, non-payment of rent, and default for late payment of rent shall be governed in accordance with the terms and conditions of the previous Lease Agreement, as incorporated above by reference or attachment.

LANDLORD (“LANDLORD”):

Sign: _______________________________      Print: _______________________________      Date: ______________

TENANT (“TENANT”):

Sign: _______________________________      Print: _______________________________      Date: ______________

 

Sign: _______________________________      Print: _______________________________      Date: ______________

 

Sign: _______________________________      Print: _______________________________      Date: ______________