The Addendum To Commercial Lease Agreement serves as a crucial tool for landlords and tenants to modify their existing lease arrangements without creating an entirely new agreement. This document is commonly used when circumstances change during the lease term, such as space requirements, rental rates, or other commercial terms. In the United States, these addenda must comply with state-specific real estate laws and maintain consistency with federal regulations governing commercial property leases. The addendum becomes legally binding when properly executed by all parties and should be attached to and referenced in the original lease agreement.
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1. Parties: Identification of landlord and tenant as per original lease agreement
2. Background: Reference to original lease agreement and reason for addendum
3. Definitions: Terms used in the addendum, incorporating definitions from original lease
4. Modifications: Specific changes being made to the original lease agreement
5. Effect on Original Lease: Statement that all other terms of original lease remain in effect
6. Execution: Signature blocks and date of addendum
1. Rent Modification: Used when modifying rental payments, including changes to rent amount or payment terms
2. Term Extension: Used when extending or shortening lease term, including changes to lease duration
3. Space Modification: Used when changing square footage or space configuration, including details of premises modifications
4. Use Clause Modification: Used when modifying allowed business activities or permitted use of premises
5. Insurance Requirements: Used when modifying insurance obligations and requirements
1. Floor Plan: Updated floor plan showing modified premises
2. Rent Schedule: Updated rent payment schedule showing modified payment terms
3. Construction Plans: Detailed plans for any modifications to premises
4. Original Lease: Copy of original lease agreement being modified as reference
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