A Lease Extension Addendum is utilized when both landlord and tenant wish to continue their lease relationship beyond the original term. This document type is particularly valuable when parties want to maintain most of the existing lease terms while making specific modifications, primarily to the duration. The addendum must reference the original lease and clearly state which terms remain in effect and which are being modified. Used across the United States, it must comply with both federal and state-specific real estate laws. The document typically includes the extension period, any rent adjustments, and signatures of all parties. It's essential for maintaining legal continuity in lease arrangements and protecting both parties' interests during the extended term.
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1. Parties: Identification of landlord and tenant with full legal names and addresses
2. Background: Reference to original lease agreement including date and parties
3. Definitions: Key terms used in the addendum
4. Extension Term: Specific period of lease extension
5. Rent Terms: Confirmation or modification of rent amount during extension
6. Original Lease Terms: Statement confirming which original lease terms remain in effect
7. Execution: Signature blocks and date
1. Modified Terms: Section detailing any changes to original lease terms, used when modifications to the original agreement are required
2. Security Deposit: Section addressing changes to security deposit arrangements, included when deposit terms are being modified
3. Property Improvements: Section outlining agreed modifications or improvements to property, included when property improvements are part of extension agreement
1. Original Lease Agreement: Copy of the original lease being extended
2. Property Condition Report: Updated condition report documenting current state of property
3. Modified Terms Schedule: Detailed list of any modified terms from original lease
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