This office lease form states that the tenant shall exercise its option to renew this lease upon written notice given to the landlord no less than eighteen (18) months before the end of the lease term.
Oregon Notice of Intention to Exercise Option is a legal document that is used to formally notify the other party involved in a contract or lease agreement of one's intent to exercise a specific option outlined within the agreement. This option is commonly found in real estate contracts or commercial lease agreements, allowing the tenant or buyer the right to either purchase the property or extend the lease for a predetermined period of time. When it comes to Oregon Notice of Intention to Exercise Option, there are a few different types depending on the specific option being exercised. These may include: 1. Purchase Option: In this case, the party serving the notice expresses their intention to exercise their right to purchase the property as per the terms outlined in the agreement. The notice will typically specify the purchase price, payment terms, and any other relevant details related to the purchase. 2. Lease Extension Option: This type of notice is utilized when a tenant wishes to exercise their option to extend their lease agreement for a specific period. The notice would typically outline the desired extension period, any changes to rental terms, and any other necessary information related to the extension. 3. Right of First Refusal Option: This option grants a party the right to match or surpass any offer made by a third party for the property. If the other party receives an offer, they must notify the party with this option, who can then submit a notice of intention to exercise their right of first refusal, effectively matching or surpassing the offer. Regardless of the type, an Oregon Notice of Intention to Exercise Option should include relevant keywords to ensure its accuracy and legality. These may include terms such as "Oregon Notice," "intention to exercise," "option," "purchase," "lease extension," "right of first refusal," "agreement," "contract," "terms," "payment," "property," and any other specific details or provisions outlined in the original agreement. It is important to consult with a legal professional or use a reliable template specific to Oregon laws to ensure that the notice is properly structured, complies with legal requirements, and includes all necessary information.
