Addendum

TXR 2104 — Commercial Lease Addendum for Option to Extend Term

Addendum to the TXR Commercial Lease giving the tenant the option to extend the term for a stated number of additional terms of a stated length, exercisable only by written notice a stated number of days before the current term ends and void if the lease has been terminated or the tenant is in breach. During the additional term(s) every lease provision continues except base monthly rent, which is (1) a fixed schedule (dates, optional rate per rentable square foot per month / year, base monthly rent), (2) adjusted by the January-to-January change in the CPI for All Urban Consumers, U.S. City Average, All Items, or (3) the prevailing rental rate 45 days before the additional term commences, with a two-appraiser (and third-appraiser tie-break) procedure if the parties do not agree by the 30th day before; plus special provisions and the Landlord / Tenant execution blocks.

Source: TXR
Form Number: 2104
Category: Addendum
Revised: July 8, 2022

Used For

COMMERCIAL_LEASING

Form Outline

The TXR 2104 form is organized into the following sections:

  1. Leased Premises
    "ADDENDUM TO THE COMMERCIAL LEASE BETWEEN THE UNDERSIGNED PARTIES CONCERNING THE LEASED PREMISES AT ___" (two lines). Repeats in the "Addendum for Option to Extend Term concerning ___" header on page 2.
  2. A. Extension Term
    "At Tenant's option, Tenant may extend the term of above-referenced lease for ___ additional term(s) of ___ months each. The first additional term commences upon the expiration of the term stated in the lease and any subsequent additional term commences upon the expiration of the then applicable extended term."
  3. B. Notice to Exercise
    "Tenant may exercise Tenant's option(s) to extend under Paragraph A only by providing written notice to Landlord at least ___ days before the end of the then current term of the lease."
  4. C. Conditions
    Printed only — no blanks. Tenant may not exercise the option(s) if the lease is terminated before Tenant exercises its option or Tenant is in breach of the lease at the time Tenant exercises it.
  5. D. Base Monthly Rent During the Additional Term(s)
    All provisions of the lease continue during the additional term(s) except the base monthly rent, which will be — "(Check (1), (2) or (3) only.)" — ❑ (1) the printed schedule (six rows: From / To dates, optional $ rate per rentable square foot per month and per year, Base Monthly Rent $); ❑ (2) adjusted to reflect increases in the Consumer Price Index for "All Urban Consumers, U.S. City Average, All Items" (base monthly rent for the last month of the lease × January index of the year the additional term commences ÷ January index of the year the original term commenced); ❑ (3) the prevailing rental rate on the 45th day before the additional term commences for comparable premises and tenants of similar credit standing.
  6. E. Appraisal of the Prevailing Rental Rate
    Printed only — no blanks. If Paragraph D(3) applies and the parties do not agree on the prevailing rental rate before the 30th day before the additional term commences, each party employs a state-certified appraiser and delivers the written opinion to the other not later than the 15th day before; opinions within 10% are averaged, otherwise the two appraisers select a third (fees shared equally) and the two closest opinions are averaged; a party that fails to employ or timely deliver an opinion is bound by the other party's appraiser.
  7. F. Special Provisions
    Any additional terms. The form leaves unruled white space under the heading on page 2; the text is drawn there.
  8. Landlord and Tenant (execution block)
    Page 2: "Landlord: ___" and "Tenant: ___" (two lines each), each followed by two signer blocks — "By: ___" (the person or entity signing for the party), "By (signature): ___" (signed electronically), "Printed Name: ___" and "Title: ___". No "Date" line on this form.

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