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.
An Oregon Extension of Primary Term of the Lease refers to a legal provision that allows for the continuation of a lease agreement beyond its initial term. This extension is typically agreed upon by both the landlord and tenant to prolong the lease's duration. In the state of Oregon, there are several types of extensions of the primary term of a lease that can be utilized to ensure the continued occupancy of a property. These include: 1. Fixed-Term Extension: This type of extension involves agreeing upon a specific time frame by which the lease will be extended. For example, if a lease originally had a one-year term, the landlord and tenant may agree to an additional one-year extension. 2. Month-to-Month Extension: In this case, the lease is extended on a month-to-month basis, allowing for greater flexibility for both the landlord and the tenant. This type of extension is ideal for those who may not want to commit to a long-term lease but still desire to stay in the property. 3. Automatic Renewal Extension: With this extension, a lease is automatically renewed for a specified period if neither party provides notice of termination within a predetermined timeframe. This option ensures continuity in the leasing agreement and can be beneficial for both the landlord and tenant. 4. Negotiated Extension: A negotiated extension occurs when the landlord and tenant discuss and mutually agree on the terms and conditions of the extension. This type of extension allows for tailored arrangements that may be unique to the situation or particular circumstances. 5. Required Notice Extension: In some cases, a lease agreement may stipulate that either the landlord or tenant must provide written notice within a certain time period if they wish to terminate or extend the lease. If proper notice is given, the lease is extended accordingly. It is important for both parties involved in an Oregon lease agreement to familiarize themselves with the specific provisions outlined in the lease contract. Understanding the available options and potential extension types can help in making informed decisions regarding the continuation of the lease beyond its primary term. Seeking legal advice or consulting with a real estate professional can also provide valuable guidance to ensure compliance with local laws and regulations when extending the primary term of a lease in Oregon.
