A lease extension contract is a legal document which is drafted whenever a lessee applies to the lessor to get the term of the lease contract extended. The property held by the lessee remains the same and also the terms and conditions that the lessee had to follow in the previous contract.
Sample Lease Extension Contract
Lease extension contract number: LE 45
This lease extension contract has been entered into on this day of 23rd November 2011 as per the Lease Laws of the state of Florida between John Smith referred to as the lessor residing at Holy manor, 45 Ricky Martin Street, Dakota, Florida and Noel Lee referred to as the lessee residing at 23 Marc Anthony Street, Dakota, Florida.
Both the lessor and the lessee agree to extend the term of their lease for a period of two years commencing from 24th November 2011 and ending on 23rd November 2013 with no right of renewal after the end date unless the lessor agrees to renew it.
It is also stated that the terms and conditions will continue to remain same as mentioned in the earlier contract. There are few additional terms and conditions:
- The lessee has to pay an additional security deposit of an amount of $10000.
- The lessee has to pay the monthly premium for the property insurance till the contract expiry date.
The contract is binding upon and is made to insure the benefit of both the parties. Find the signature of both the parties mentioned below:
Signature of lessor: Signature of lessee:
John Smith Noel Lee