The Commercial Lease Addendum For Extension Option is utilized when parties to an existing commercial lease agreement wish to formalize the terms and conditions under which the tenant may extend their occupancy beyond the original lease term. This document is particularly important in the United States commercial real estate market, where businesses often require the flexibility to extend their lease while maintaining operational stability. The addendum typically includes specific details about notice periods, rental rates during the extension period, and any modified terms from the original lease. It provides clarity and legal protection for both landlord and tenant while ensuring compliance with state-specific commercial property laws.

1. Parties: Identification of landlord and tenant, including legal names and addresses

2. Background: Reference to original lease agreement and reason for extension addendum

3. Definitions: Key terms used in the addendum, including reference to original lease definitions

4. Extension Terms: Specific details of the extension option, including duration and notice requirements

5. Rent Provisions: Rental rates and adjustments applicable during extension period

6. Exercise of Option: Process and requirements for exercising the extension option

7. Original Lease Terms: Confirmation of continuing validity of original lease terms

8. Execution: Signature blocks and date