RENEWAL--OPTION TO RENEW AT SPECIFIED RENTAL

 

 

Lessee is given _______________ (Number) successive options to renew the lease for a __________ year period, upon the same terms and conditions of the lease, dated ______________________ (Month & Day), _______ (Year) (if different rentals are to be applicable to renewal, add:  provided, however, the rent during each such renewal period shall be as follows):

 

__________ (number of months or years) $___________

__________ (number of months or years) $___________

__________ (number of months or years) $___________

__________ (number of months or years) $___________

 

Payable _______________ (monthly or annually in advance).  Such options must be exercised by lessees giving of a written notice of renewal to lessor, not less than ________________ days before the expiration of the terms of this lease, or any renewal of the lease.

 

 

This is a UCC Leasing provision.  It is designed to supplement UCC  

"Leasing" forms found in this category.