Addendum

TXR 2104 — Commercial Lease Addendum for Option to Extend Term

This addendum grants the tenant one or more options to extend the commercial lease term for additional periods. It establishes the number and length of extension terms, the notice deadline for exercising the option, conditions that void the option, and three methods for determining rent during the e

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. Extension Term
    Grants tenant the option to extend for a specified number of additional terms of a specified duration, with each term following the prior one.
  2. Notice Requirement
    Requires tenant to give written notice a specified number of days before the current term ends to exercise the extension option.
  3. Conditions
    The extension option is void if the lease has been terminated or if tenant is in breach at the time of exercise.
  4. Rent During Extension
    All lease terms continue during the extension except base rent, which is set by one of three methods: a fixed schedule, CPI adjustment formula, or prevailing market rate for comparable space.
  5. Appraisal Process for Prevailing Rate
    Structured appraisal dispute resolution when parties cannot agree on the prevailing rental rate, involving up to three state-certified appraisers with specific deadlines and averaging rules.
  6. Special Provisions
    Space for additional extension-related terms.

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