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Amendments, Addenda, And Lease Modifications

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LA 127 Addendum Giving Right Of First Offer And Right To Negotiate For Adjacent Space To Credit Tenant

This addendum gives the tenant sweeping rights to space adjacent to its premises, and even covers space not yet constructed by the landlord. The addendum is to be executed at the same time as the lease for the original space the tenant occupies.

The addendum is very specific about the terms and conditions that apply to space the tenant decides to take down pursuant to the addendum's language, including the landlord's construction obligations.

Number of Single Spaced Pages: 9

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LA 515 Amendment Permitting Tenant To Occupy Adjacent Space Previously Leased By Another Tenant

This form is drafted for use when a tenant will take additional space that is currently occupied by another tenant.

The amendment documents the expansion of the tenant's premises, and specifies the other terms and conditions of the expanded lease.

Number of Single Spaced Pages: 13

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LA 241 Amendment to Extend the Term, Grant Additional Fair Market Rental Options, and Add and Improve Expansion Space

This amendment is designed for a situation where the landlord and tenant wish to extend the original term of the lease, provide for additional renewal options with fair market rentals, and add additional expansion space to the premises to accommodate the tenant's growth.

This satisfies the tenant, and will prevent the tenant from looking elsewhere for new space for its operations.

Number of Single Spaced Pages: 12

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LA 215 Amendment to Extend the Lease, Reduce the Size of the Premises, and Modify the Rent and Operating Expenses

This form is drafted for use when a tenant is reducing its space, which requires a modification of the rent and proportionate share language in the lease.

In this case, the tenant is also extending the term for the reduced premises.

Number of Single Spaced Pages: 7

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LA 735 Amendment And Assignment Of Lease And Sale Of Personal Property To New Tenant With Landlord Receiving Cash And Warrants From Original Tenant

The following form is designed to effect an assignment of an existing lease from the original tenant to a new tenant who will occupy the space after the satisfaction of certain conditions. The agreement also contains the consent of the landlord required under the lease for assignments.

The new tenant is acquiring the furniture and personal property of the original tenant pursuant to a bill of sale which is an exhibit to the agreement. The landlord is to receive cash and warrants to acquire common stock in the original tenant as part of the deal. Exhibits Included: Bill of Sale and Warrant for Common Stock Purchase.

Number of Single Spaced Pages: 27

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LA 851 Amendment To Expand And Improve The Premises (With Attached Construction Exhibit) and Grant Of Additional Expansion Options And Exterior Signage Rights To The Tenant

This form is drafted for use when a tenant is expanding its space, and substantial improvements are contemplated for the expansion space. A separate construction exhibit is attached to the document to govern the construction process.

The tenant is also granted substantial exterior signage rights in the amendment, as well as additional expansion options.

Number of Single Spaced Pages: 16

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LA 435 Amendment To Expand The Premises And Grant Renewal Options And Rights Of First Refusal To The Tenant

This lease amendment gives the tenant expansion space, as well as the right to control adjacent space through rights of first refusal.

The tenant is also the beneficiary of additional renewal options with the rent based upon market conditions (fair market rentals).

Number of Single Spaced Pages: 13

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LA 411 Office Lease Addendum Permitting Major Tenant To Share In Building Appreciation

This addendum entitles the commercial tenant to share in a portion of the appreciation (10% in this case) of the property in which the tenant leases space.

It is only applicable to tenants with extremely strong leverage in a leasing transaction, since most commercial landlords would never allow tenant sharing in property appreciation unless they absolutely had to in order to sign the tenant.

Number of Single Spaced Pages: 3

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LA 251 Lease Amendment Granting The Landlord Warrants As Additional Rent

This lease amendment grants the commercial landlord warrants to purchase the tenant’s corporate shares as additional rent under the lease payable to the landlord.

In the case of certain start up tenants without a substantial operating history, this is the sort of concession the tenant must offer in order to lease first class office space. The warrant agreement is attached as an exhibit to the amendment.

Number of Single Spaced Pages: 12

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LA 1485 Addendum Providing For Tenant’s Participation In Building’s Net Cash Flow And Tenant’s Posting Of Letter Of Credit

This lease addendum is designed to be executed by the landlord and the tenant when the lease is signed. It allows the tenant to share in the net cash flow from the building which the tenant is leasing. Obviously the tenant has considerable leverage to qualify for a participation in cash flows from the property. This leverage arises from the tenant's lease which provides the security for the financing of the property.

The addendum provides that the participation applies only to the original landlord for the property, and the tenant may not enforce the participation against future purchasers of the property in the event it is sold. In such a case, the tenant would share in the proceeds of sale of the property received by the original landlord pursuant to the addendum, but the participation would thereafter cease to exist as against the new owner landlord of the property.

Finally, the addendum obligates the tenant to post a letter of credit to secure its performance under the lease.

Number of Single Spaced Pages: 8

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LA 821 Aggressive Pro-Tenant Operating Costs Addendum For Office, Industrial, Or Retail Lease

This form is designed as an addendum to an office, retail or industrial lease to protect the tenant from broad pro-landlord operating costs provisions. The addendum is to be executed at the same time the lease is signed. The addendum contains extensive pro-tenant exclusions from the operating costs that may be passed through to the tenant for payment on a pro-rata basis.

It also features pro-tenant provisions regarding audit of operating costs, utilities and energy, refunds and credits, and arbitration. Finally, the form contains stipulations by the landlord as to the amount of real estate taxes, prior operating costs, landlord staff salaries and benefits (included in operating costs) and utility charges for 3 prior years for the complex containing the premises.

Number of Single Spaced Pages: 12

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LA 415 Pro-Tenant Lease Addendum With Exclusions To The Definition Of Operating Costs

This Lease Addendum is a pro-tenant list of specific items that are excluded from the landlord drafted definition of operating expenses.

Operating expense definitions drafted by the landlord are generally extremely broad in scope, and frequently include items that tenants find objectionable. This pro-tenant addendum is designed to fix that problem.

Number of Single Spaced Pages: 14

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