LEASE RENEWAL FORM
LEASE to be renewed is that certain lease described as follows:
The term of the referenced Lease is hereby extended from:
November 1, 2005 through October 31, 2010
With the following changes only:
A. Security Deposit increased from $5,220.00 to $5,860.00
B. Rent. The monthly rent for the period of this Lease Extension will be:
The above rental schedule does not include the estimated monthly Common Area Operating Expense, which is currently $120.00
C. Late Rent Adjustments. Notwithstanding other provisions in this lease which pertain to the payment of rent, or late charges, it is understood and agreed that if the Lessee fails to pay the rent specified in this lease, within the timeframe specified, for three (3) or more times in any twelve (12) month period after the commencement date of this lease, then the Lessor may, at the Lessor’s option, increase the monthly rent for the balance of the lease by ten (10) percent. Said increase shall commence after the Lessor gives the Lessee a thirty day notice, in writing, that the increase shall go into effect.
D. Restoration of the Premises. On or before the scheduled termination of this Lease, or any variations thereof, the Lessee shall at Lessee’s expense restore the Premises to the original condition, taking into consideration the reasonable wear and tear of the Premises and in accordance to the provisions of this lease. The requirements of restoration in this paragraph shall not exceed the requirements of restoration in the original lease term.
E. Option to Cancel. Lessee shall have the right to cancel this Lease causing same to become null and void and of no furth