Amend A Lease With Purchase Option

State:
Multi-State
Control #:
US-EG-9286
Format:
Word; 
Rich Text
Instant download

Description

The document titled Amendment to Office Building Lease Agreement serves to modify an existing lease agreement between Pennsylvania Dental Service Corporation (Landlord) and Mindspring Enterprises, Inc. (Tenant). This amendment specifically extends the term of the lease through April 30, 2000, and outlines the annual rental adjustments. Key features include Tenant's obligation to perform specific repairs and maintenance tasks at their expense, such as managing cigarette disposal, servicing fire extinguishers, and maintaining the premises' interiors. Importantly, the Tenant agrees to reimburse the Landlord for any incurred costs resulting from the Tenant's failure to complete these tasks within a specified timeframe. This amendment is crucial for maintaining the integrity of the relationship between Landlord and Tenant and clearly communicates each party's responsibilities. The form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants by providing clarity on contractual obligations, ensuring compliance, and facilitating the documentation of modifications to existing agreements.
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FAQ

While an amendment alters the core terms of the contract, an addendum provides supplementary information without changing the original content.

This is a standard form of amending agreement for use where a vendor and purchaser have agreed to modify the agreement of purchase and sale between them for a parcel of commercial real property by adding, changing, or removing sections.

How to Fill Out OREA Form 405, Amendment to Lease Agreement? Provide the names of the tenant and the landlord; Include the information from the original agreement with the date when it was signed; Describe the amendments you want to make in the document; Sign the document and let the other party sign it;

The landlord and tenant can also agree to renew the tenancy agreement for another fixed term period, or enter into a new lease. If the landlord and tenant agree to enter into a new lease, the terms of the lease can only be changed in ance with the Act.

The OREA form 420 is also known as the Amendment to Agreement to Lease ? Residential version. It was created by the Ontario Real Estate Association and accepted by Toronto Real Estate Board. You can use this form only for the property based in the Province of Ontario.

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Amend A Lease With Purchase Option