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.
