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Form 18-14: Tenant Option to Extend Lease Term
Provides an array of possible articulated formulas to escalate rent
(3 pages)
$25
This extensive form contains alternative clauses for virtually every approach to adjusting or increasing rent during option periods.
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Fixed rental.
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Formula CPI adjustment.
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Formula CPI adjustment with a floor and a "cap" for first year of second option period. Each subsequent year of the second option period is subject to a full annual CPI increase.
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Fair market appraisal.
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Landlord's then-prevailing lease rate for comparable space.
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Optional clause: Option to extend exercisable solely by original tenant.
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