The Commercial Lease Addendum serves as a crucial tool for landlords and tenants needing to modify their existing lease agreements without creating an entirely new contract. This document is commonly used in the United States when circumstances require changes to rent, lease term, space configuration, or other lease provisions. The addendum must align with both federal and state commercial property laws and should clearly reference the original lease agreement. It's particularly useful for addressing changing business needs, market conditions, or compliance requirements while maintaining legal continuity with the original lease terms.
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1. Parties: Identification of landlord and tenant with full legal names and addresses
2. Background: Reference to original lease agreement and reason for addendum
3. Definitions: Key terms used in the addendum
4. Modifications: Specific changes or additions to the original lease
5. Effect on Original Lease: Statement confirming all other lease terms remain in effect
6. Execution: Signature blocks and date of execution
1. Rent Adjustment: Section detailing modified rental terms, including new rent amounts, payment schedules, and any changes to additional charges
2. Term Extension: Section specifying modifications to lease duration, including new termination dates and any renewal options
3. Space Modification: Section outlining changes to leased premises, including square footage adjustments or space reconfigurations
4. Use Clause: Section detailing changes to permitted uses of the property and any new restrictions or allowances
1. Schedule A - Floor Plan: Updated floor plan or space configuration showing modified premises
2. Schedule B - Rent Schedule: Modified rent payment schedule including any new rates or payment terms
3. Schedule C - Property Improvements: Details of authorized improvements or modifications to the property
4. Schedule D - Insurance Requirements: Updated insurance obligations and coverage requirements
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