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Form 18-14: Tenant Option to Extend Lease Term
Provides an array of possible articulated formulas to escalate rent
This extensive form contains alternative clauses for virtually every approach to adjusting or increasing rent during option periods.
Formula CPI adjustment.
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.
Fair market appraisal.
Landlord's then-prevailing lease rate for comparable space.
Optional clause: Option to extend exercisable solely by original tenant.
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