This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
The Kansas Extension of Primary Term of the Lease refers to a legal provision that allows for the prolongation of the initial lease period for a property in the state of Kansas. This provision gives the tenant or lessee the option to extend their lease beyond the original primary term. The primary term of a lease is the initial fixed period agreed upon by the lessor (landlord) and lessee (tenant) for the rental of the property. An extension of this primary term provides the lessee with the opportunity to continue occupying the property for an additional period, typically under the same terms and conditions as the original lease agreement. There are several types of Kansas Extension of Primary Term of the Lease, including: 1. Automatic Extension: In some cases, leases may include an automatic extension clause, which stipulates that the primary term of the lease will be extended automatically for a specific period unless either party provides notice of termination. 2. Renewal by Mutual Agreement: This type of extension requires both the lessor and lessee to negotiate and agree on extending the primary term before the lease expires. It may involve discussions on rental adjustments or any other modifications to the original lease terms. 3. Holdover Provision: If the lessee continues to occupy the property without formally extending the lease, a holdover provision may come into effect. This provision allows for the extension of the primary term on a month-to-month basis, typically at a higher rental rate than the original lease. It is important for both parties involved in the lease agreement to understand the specific terms and conditions regarding the extension of the primary term. The extension should be addressed clearly in the lease agreement to avoid any misunderstandings or disputes. It is advisable to consult with a qualified attorney or real estate professional when considering an extension of the primary term of a lease in Kansas to ensure compliance with state laws and regulations.
