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 Maine Extension of Primary Term of the Lease refers to a legal provision in a lease agreement that allows the lessee (tenant) to extend the initial term of the lease beyond its original duration. This extension can be beneficial for both landlords and tenants, providing flexibility and continuity in the occupancy of a property. There are two common types of Maine Extension of Primary Term of the Lease: 1. Fixed-Term Extension: This type of extension allows the tenant to extend the lease for a specified period, often in increments of months or years. For example, if the initial lease term is set for one year, the tenant may have the option to extend it for an additional year or any other agreed-upon duration. Fixed-term extensions provide certainty for both parties, as they outline the exact period of the extension. 2. Month-to-Month Extension: This type of extension allows the tenant to continue occupying the property on a month-to-month basis after the initial lease term expires, without entering into a new fixed-term agreement. Month-to-month extensions are more flexible and can be terminated with shorter notice periods agreed upon in the lease agreement. This option is suitable for tenants who require temporary or uncertain occupancy arrangements. Keywords: Maine, Extension of Primary Term of the Lease, lease agreement, lessee, tenant, landlord, fixed-term extension, month-to-month extension, initial lease term, occupancy, duration, flexibility, continuity, notice period.
