[{"data":1,"prerenderedAt":467},["ShallowReactive",2],{"document-notice-of-exercise-of-lease-option-D1212":3},{"document":4,"label":24,"preview":11,"thumb":25,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":26,"breadcrumb":30,"related":38,"customDescModule":172,"customdescription":6,"mdFm":173,"mdProseHtml":466},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":16,"keywords":23},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: NOTICE OF EXERCISE OF LEASE OPTION Dear [Contact name],",null,"Notice of Exercise of Lease Option","1",513,"doc","https://templates.business-in-a-box.com/imgs/1000px/notice-of-exercise-of-lease-option-D1212.png","https://templates.business-in-a-box.com/imgs/250px/1212.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1212.xml",{"title":15,"description":6},"notice of exercise of lease option",[17,20],{"label":18,"url":19},"Real Estate","/templates/real-estate-business/",{"label":21,"url":22},"Business Letters","/templates/business-letters/","notice exercise lease option","Notice of Exercise of Lease Option Template","https://templates.business-in-a-box.com/imgs/400px/1212.png",[27,17,20],{"label":28,"url":29},"Templates","/templates/",[31,32,35],{"label":28,"url":29},{"label":33,"url":34},"Legal Agreements","/templates/business-legal-agreements/",{"label":36,"url":37},"Real Estate & Leases","/templates/real-estate-and-leases/",[39,43,47,51,55,59,63,67,71,75,79,83,87,100,117,131,144,160],{"label":40,"url":41,"thumb":42,"extension":10},"Notice of Exercise of Option to Purchase","/template/notice-of-exercise-of-option-to-purchase-D1213","https://templates.business-in-a-box.com/imgs/250px/1213.png",{"label":44,"url":45,"thumb":46,"extension":10},"Notice of Intent to Exercise Option(s) to Acquire Partnership Interests","/template/notice-of-intent-to-exercise-option-s-to-acquire-partnership-interests-D5164","https://templates.business-in-a-box.com/imgs/250px/5164.png",{"label":48,"url":49,"thumb":50,"extension":10},"Option to Lease Agreement","/template/option-to-lease-agreement-D1193","https://templates.business-in-a-box.com/imgs/250px/1193.png",{"label":52,"url":53,"thumb":54,"extension":10},"Exercising Option to Renew Lease","/template/exercising-option-to-renew-lease-D1175","https://templates.business-in-a-box.com/imgs/250px/1175.png",{"label":56,"url":57,"thumb":58,"extension":10},"Notice of Breach of Lease","/template/notice-of-breach-of-lease-D1185","https://templates.business-in-a-box.com/imgs/250px/1185.png",{"label":60,"url":61,"thumb":62,"extension":10},"Equipment Lease Agreement With Option to Purchase","/template/equipment-lease-agreement-with-option-to-purchase-D1143","https://templates.business-in-a-box.com/imgs/250px/1143.png",{"label":64,"url":65,"thumb":66,"extension":10},"Landlord Notice of Termination of Lease","/template/landlord-notice-of-termination-of-lease-D1208","https://templates.business-in-a-box.com/imgs/250px/1208.png",{"label":68,"url":69,"thumb":70,"extension":10},"Notice of Intent to Exercise Warehouse Lien by Auction","/template/notice-of-intent-to-exercise-warehouse-lien-by-auction-D1035","https://templates.business-in-a-box.com/imgs/250px/1035.png",{"label":72,"url":73,"thumb":74,"extension":10},"Notice of Grant of Stock Option","/template/notice-of-grant-of-stock-option-D896","https://templates.business-in-a-box.com/imgs/250px/896.png",{"label":76,"url":77,"thumb":78,"extension":10},"Notice of Other Lease Default","/template/notice-of-other-lease-default-D1215","https://templates.business-in-a-box.com/imgs/250px/1215.png",{"label":80,"url":81,"thumb":82,"extension":10},"Employee Stocks Option Grant Notice","/template/employee-stocks-option-grant-notice-D12614","https://templates.business-in-a-box.com/imgs/250px/12614.png",{"label":84,"url":85,"thumb":86,"extension":10},"Agreement to Lease","/template/agreement-to-lease-D1164","https://templates.business-in-a-box.com/imgs/250px/1164.png",{"description":88,"descriptionCustom":6,"label":89,"pages":8,"size":9,"extension":10,"preview":90,"thumb":91,"svgFrame":92,"seoMetadata":93,"parents":95,"keywords":94,"url":99},"[DATE] [YOUR NAME] [YOUR ADDRESS] [CITY, STATE, ZIP CODE] [YOUR EMAIL ADDRESS] [YOUR PHONE NUMBER] [LANDLORD'S NAME] [LANDLORD'S ADDRESS] [CITY, STATE, ZIP CODE] SUBJECT: NOTICE OF LEASE TERMINATION Dear [LANDLORD'S NAME], I am writing to formally notify you of my intent to terminate the lease agreement for the property located at [PROPERTY ADDRESS]. As per the terms of our lease agreement, I am providing you with the required notice period of [NUMBER OF DAYS, TYPICALLY 30 OR 60 DAYS], and my lease will be terminated on [TERMINATION DATE], which is [DATE NOTICE PERIOD ENDS, TYPICALLY 30 OR 60 DAYS FROM THE DATE OF THE LETTER]. The lease for the aforementioned property was initiated on [LEASE START DATE], and the initial lease term was set to expire on [ORIGINAL LEASE END DATE]. I am terminating the lease agreement as of the aforementioned Termination Date. I will ensure that the property is returned to you in the condition specified in our lease agreement","Lease Termination Letter","https://templates.business-in-a-box.com/imgs/1000px/lease-termination-letter-D13724.png","https://templates.business-in-a-box.com/imgs/250px/13724.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13724.xml",{"title":94,"description":6},"lease termination letter",[96,98],{"label":33,"url":97},"business-legal-agreements",{"label":33,"url":97},"/template/lease-termination-letter-D13724",{"description":101,"descriptionCustom":6,"label":102,"pages":103,"size":104,"extension":10,"preview":105,"thumb":106,"svgFrame":107,"seoMetadata":108,"parents":109,"keywords":115,"url":116},"OFFER TO PURCHASE This Offer to Purchase (the \"Agreement\") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Purchaser\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [COMPANY NAME] (the \"Vendor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] We, (the\" Purchaser\") hereby offer to purchase from you, (the \"Vendor\") upon and subject to the terms and conditions herein, the immoveable property described as: [DESCRIBE - INCLUDING PLAN AND BOOK OF REFERENCE OF, REGISTRATION DIVISION] together with the building thereon erected, bearing civic number [NUMBER] on the street [STREET], in the City of [CITY], [State/Province] of [STATE/PROVINCE] (hereinafter referred to as the \"Property\"), as the said Property now subsists including, except to the extent not owned by Vendor and subject to all rights of tenants in the building (a) all permanent electrical fixtures, (b) all permanently installed heating equipment, (c) all equipment, tools and supplies used in the daily operation of the Property, (d) all equipment, furniture and supplies used in the administration of the Property, and (e) all rights of the Vendor in any operating agreements, licenses, trademarks, leases and metro access agreements related to the Property or the administration thereof, including without limiting the foregoing, all of the Vendor's rights as lessee in that certain lease with the for certain parking facilities under, which lease shall provide for at least [NUMBER] parking spaces (the \"Parking Facility\") for a term of at least [NUMBER] years at an annual net rental of [AMOUNT] to be adjusted annually based on the Consumer Price Index. 2. PURCHASE PRICE The total purchase price for the Property (the \"Purchase Price\") shall be the sum of [AMOUNT] payable as follows: a) The amount of [AMOUNT] by check to the order of our attorneys, [INDIVIDUAL NAME] in Trust, which shall be delivered to the said payee upon your acceptance hereof and shall be applied on account of the Purchase Price at Closing (as hereinafter defined) or otherwise dealt with as hereinafter provided, which sum shall be invested in a certificate of deposit with a [COUNTRY] chartered bank until Closing. All interest on such deposit shall, except as herein provided to the contrary, be payable to Purchaser; and b) The amount of [AMOUNT] shall be paid by bank draft at Closing to [INDIVIDUAL NAME] in Trust. The parties hereto agree than an amount of [AMOUNT] of the Purchase Price will be remitted to the Vendor upon the registration of the deed of sale without adverse entries and subject to the discharge of all hypothecs and privileged claims which may affect the Property. An amount of [AMOUNT] from the Purchase Price will be held by the offices of [INDIVIDUAL NAME] in Trust as guarantee for the fulfillment of the various warranties of the Vendor pursuant to the provisions of this offer, and any other documents to be executed by the Vendor pursuant to the provisions hereof. The said sum of [AMOUNT] will be held by [INDIVIDUAL NAME] in Trust and dealt with and disposed of by them pursuant to the provisions of Section 9 hereof. No privilege or hypothec shall secure the payment of the said amount of [AMOUNT], the entire sale price shall be deemed for the purposes of the deed of sale to have been paid in full upon the execution of the deed of sale. 3. CLOSING Subject as herein provided, a Deed of Sale giving effect hereto shall be executed before Purchaser's notary at the offices of [INDIVIDUAL NAME], [FULL ADDRESS], [STATE/PROVINCE], and the payment referred to in Section 2(b) above will be made, such actions being herein referred to as the \"Closing\", on, [DATE] (the \"Closing Date\") at [HOUR] a.m./p.m., or at such other time and place as may be mutually agreed upon between us. 4. CONDITIONS PRECEDENT TO CLOSING This Offer is made subject to the following conditions, each of which is of the essence hereof: a) Within [NUMBER] days of Vendor's acceptance hereof, Vendor will, at its expense, furnish Purchaser with: (i) An up-to-date Certificate of Location prepared by a qualified land surveyor showing the Property in its present state and condition; (ii) Executed copies of all contracts and agreements relating to the Property which are then in force or may come into force prior to the Closing, including, any operating agreements, licenses, leases in favor of the Property, metro access agreements and all contracts relating to parking, heating, ventilation and air conditioning, elevators, cleaning, pest control and security (collectively called the \"Contracts\"); and (iii) Executed copies of all leases and accepted offers to lease of premises forming part of the Property, including without limitation, any subleases to which Vendor has consented in writing (the said leases, offers to lease and subleases being herein collectively called the \"Space Leases\"); (iv) Audited financial statements of gross rental revenue, property taxes and operating expenses for the [NUMBER]-year period ended [DATE], and unaudited financial statements for the period ended [DATE] to the date hereof; (v) An executed copy of the lease with the City of [CITY] for the Parking Facility. b) Purchaser and its agents shall be permitted at any reasonable time during normal business hours, upon the request of the Purchaser giving reasonable notice, during the period commencing with the date of acceptance by Vendor of this Offer and terminating at [HOUR] a.m./p.m. on [DATE] to enter upon the Property for the purpose of inspecting or surveying it, provided that the business operations being conducted thereon are not adversely affected, and Vendor shall give Purchaser and its agents full access to the Property and shall make available to the Purchaser, in addition to the documents referred to at a) i), ii), iii), iv) and v) above, all documents which may be pertinent in establishing the value of the Property, and without limiting the foregoing, Vendor's complete files containing: (i) Copies of all plans, drawings and specifications for the Property (including without limitations, plans for leasehold or tenants' improvements in the possession of the Vendor); (ii) Copies of any and all engineering reports and architectural reports the Vendor has obtained in respect of the Property; (iii) Copies of all operating statements, sales reports, participation rental receipts and claims, accounting records and other records pertaining to operating costs, recoveries and participation rents from tenants held by the Vendor; (iv) Copies of all supporting invoices relating to the financial statements furnished by the Vendor at a) iv) above; (v) Copies of all contracts with general contractors, contractors, workmen, suppliers of material, in respect of work presently being carried out with respect to the Property; (vi) Copies of all insurance policies relating to the Property; (vii) Copies of all recent correspondence from tenants of the Property; (viii) Copies of all recent correspondence from the City of [CITY] or other statutory authorities concerning the Property, and any work presently being carried out thereto; (ix) Copies of all correspondence or litigation files or appraisals relating to any current contestation of the municipal evaluation of the Property; Purchaser agrees to keep all such information confidential in the event the Closing does not take place","Offer to Purchase Real Estate Property","12",89,"https://templates.business-in-a-box.com/imgs/1000px/offer-to-purchase_real-estate-property-D1190.png","https://templates.business-in-a-box.com/imgs/250px/1190.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1190.xml",{"title":6,"description":6},[110,112],{"label":18,"url":111},"real-estate-business",{"label":113,"url":114},"Business Checklists","business-checklists","offer to purchase real estate property","/template/offer-to-purchase-real-estate-property-D1190",{"description":118,"descriptionCustom":6,"label":119,"pages":120,"size":121,"extension":10,"preview":122,"thumb":123,"svgFrame":124,"seoMetadata":125,"parents":126,"keywords":129,"url":130},"COMMERCIAL LEASE AGREEMENT This Lease Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Landlord\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [TENANT NAME] (the \"Tenant\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] DESCRIPTION OF PREMISES Landlord leases to Tenant the premises located at [address], [city], [state], and described more particularly as follows: [insert legal description]. GRANT OF LEASE Landlord, in consideration of the rents to be paid and the covenants and agreements to be performed and observed by the Tenant, does hereby lease to the Tenant and the Tenant does hereby lease and take from the Landlord the property described in Exhibit \"A\" attached hereto and by reference made a part hereof (the \"Leased Premises\"), together with, as part of the parcel, all improvements located thereon. LEASE TERM Total Term of Lease: The term of this Lease shall begin on the commencement date, as defined in Section b) of this Article 3, and shall terminate on [DATE]. Commencement Date: The \"Commencement Date\" shall mean the date on which the Tenant shall commence to conduct business on the Leased Premised, so long as such date is not in excess of [NUMBER] days subsequent to execution hereof. EXTENSIONS The parties hereto may elect to extend this Agreement upon such terms and conditions as may be agreed upon in writing and signed by the parties at the time of any such extension. DETERMINATION OF RENT The Tenant agrees to pay the Landlord and the Landlord agrees to accept, during the term hereof, at such place as the Landlord shall from time to time direct by notice to the Tenant, rent at the following rates and times: Annual Rent: Annual rent for the term of the Lease shall be [AMOUNT], plus applicable sales tax. Payment of Yearly Rent: The annual rent shall be payable in advance in equal monthly installments of one-twelfth (1/12th) of the total yearly rent, which shall be [AMOUNT], on the first day of each and every calendar month during the term hereof, and prorata for the fractional portion of any month, except that on the first day of the calendar month immediately following the Commencement Date, the Tenant shall also pay to the Landlord rent at the said rate for any portion of the preceding calendar month included in the term of this Lease. Reference to yearly rent hereunder shall not be implied or construed to the effect that this Lease or the obligation to pay rent hereunder is from year to year, or for any term shorter than the existing Lease term, plus any extensions as may be agreed upon. A late fee in the amount of [AMOUNT] shall be assessed if payment is not postmarked or received by Landlord on or before the tenth day of each month. USE OF PROPERTY BY TENANT The Leased Premises may be occupied and used by Tenant exclusively as a [DESCRIBE], to be known as a [DESCRIBE]. Nothing herein shall give Tenant the right to use the property for any other purpose or to sublease, assign, or license the use of the property to any Sub-Tenant, assignee, or licensee, which or who shall use the property for any other use. RESTRICTIONS ON USE Tenant shall not use the demised premises in any manner that will increase risks covered by insurance on the demised premises and result in an increase in the rate of insurance or a cancellation of any insurance policy, even if such use may be in furtherance of Tenant's business purposes. Tenant shall not keep, use, or sell anything prohibited by any policy of fire insurance covering the demised premises, and shall comply with all requirements of the insurers applicable to the demised premises necessary to keep in force the fire and liability insurance. WASTE, NUISANCE, OR UNLAWFUL ACTIVITY Tenant shall not allow any waste or nuisance on the demised premises, or use or allow the demised premises to be used for any unlawful purpose. DELAY IN DELIVERING POSSESSION This lease agreement shall not be rendered void or voidable by the inability of Landlord to deliver possession to Tenant on the date set forth in Section 3. Landlord shall not be liable to Tenant for any loss or damage suffered by reason of such a delay; provided, however, that Landlord does deliver possession no later than [date]. In the event of a delay in delivering possession, the rent for the period of such delay will be deducted from the total rent due under this lease agreement. No extension of this lease agreement shall result from a delay in delivering possession. SECURITY DEPOSIT The Tenant has deposited with the Landlord the sum of [AMOUNT] as security for the full and faithful performance by the Tenant of all the terms of this lease required to be performed by the Tenant. Such sum shall be returned to the Tenant after the expiration of this lease, provided the Tenant has fully and faithfully carried out all of its terms. In the event of a bona fide sale of the property of which the leased premises are a part, the Landlord shall have the right to transfer the security to the purchaser to be held under the terms of this lease, and the Landlord shall be released from all liability for the return of such security to the Tenant. TAXES Property Taxes: The Tenant shall be liable for all taxes levied against any leasehold interest of the Tenant or personal property and trade fixtures owned or placed by the Tenant in the Leased Premises. Real Estate Taxes: During the continuance of this lease Landlord shall deliver to Tenant a copy of any real estate taxes and assessments against the Leased Property. From and after the Commencement Date, the Tenant shall pay to Landlord not later than [NUMBER] days after the day on which the same may become initially due, all real estate taxes and assessments applicable to the Leased Premises, together with any interest and penalties lawfully imposed thereon as a result of Tenant's late payment thereof, which shall be levied upon the Leased Premises during the term of this Lease. Contest of Taxes: The Tenant, at its own cost and expense, may, if it shall in good faith so desire, contest by appropriate proceedings the amount of any personal or real property tax. The Tenant may, if it shall so desire, endeavor at any time or times, by appropriate proceedings, to obtain a reduction in the assessed valuation of the Leased Premises for tax purposes. In any such event, if the Landlord agrees, at the request of the Tenant, to join with the Tenant at Tenant's expense in said proceedings and the Landlord agrees to sign and deliver such papers and instruments as may be necessary to prosecute such proceedings, the Tenant shall have the right to contest the amount of any such tax and the Tenant shall have the right to withhold payment of any such tax, if the statute under which the Tenant is contesting such tax so permits. Payment of Ordinary Assessments: The Tenant shall pay all assessments, ordinary and extraordinary, attributable to or against the Leased Premises not later than [NUMBER] days after the day on which the same became initially due. The Tenant may take the benefit of any law allowing assessments to be paid in installments and in such event the Tenant shall only be liable for such installments of assessments due during the term hereof. ","Commercial Lease Agreement","19",145,"https://templates.business-in-a-box.com/imgs/1000px/lease-agreement-D1179.png","https://templates.business-in-a-box.com/imgs/250px/1179.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1179.xml",{"title":6,"description":6},[127,128],{"label":18,"url":111},{"label":113,"url":114},"lease agreement","/template/lease-agreement-D1179",{"description":132,"descriptionCustom":6,"label":133,"pages":134,"size":9,"extension":10,"preview":135,"thumb":136,"svgFrame":137,"seoMetadata":138,"parents":140,"keywords":139,"url":143},"EXCLUSIVE LEASE AGREEMENT This is an Exclusive Lease Agreement (the \"Agreement\") effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Lessor\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [LESSEE NAME] (the \"Lessee\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] TERMS It is agreed that: Lessor does hereby agree to grant, demise and let and Lessee does hereby agree to take premises situated in [CITY, STATE/PROVINCE] at [ADDRESS] and described as [DESCRIBE] with appurtenances, from Start Date [DATE] to Ending Date [DATE], at the rent or sum of [AMOUNT], to be paid as follows: [ENTER LEASE TERMS] The parties here shall execute the lease herein provided for on [DATE]. The Lessor shall [Enter any utilities and/or maintenance paid by Lessor]. ","Exclusive Lease Agreement","2","https://templates.business-in-a-box.com/imgs/1000px/exclusive-lease-agreement-D12808.png","https://templates.business-in-a-box.com/imgs/250px/12808.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12808.xml",{"title":139,"description":6},"exclusive lease agreement",[141,142],{"label":33,"url":97},{"label":33,"url":97},"/template/exclusive-lease-agreement-D12808",{"description":145,"descriptionCustom":6,"label":146,"pages":8,"size":9,"extension":10,"preview":147,"thumb":148,"svgFrame":149,"seoMetadata":150,"parents":152,"keywords":151,"url":159},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: OFFICIAL DEMAND LETTER REGARDING [DESCRIBE] Dear [CONTACT NAME], Based on our records, you were required to have paid $ [AMOUNT] USD (the \"Debt\") to [COMPANY NAME] on [DATE], for [SERVICE REQUIRING PAYMENT]. This Debt remains outstanding, despite our initial requests for payment. ","Demand Letter","https://templates.business-in-a-box.com/imgs/1000px/demand-letter-D13262.png","https://templates.business-in-a-box.com/imgs/250px/13262.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13262.xml",{"title":151,"description":6},"demand letter",[153,156],{"label":154,"url":155},"Human Resources","human-resources",{"label":157,"url":158},"Company Policies","company-policies","/template/demand-letter-D13262",{"description":161,"descriptionCustom":6,"label":76,"pages":8,"size":9,"extension":10,"preview":162,"thumb":78,"svgFrame":163,"seoMetadata":164,"parents":166,"keywords":170,"url":171},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: NOTICE OF LEASE DEFAULT Dear [Contact name],","https://templates.business-in-a-box.com/imgs/1000px/notice-of-other-lease-default-D1215.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1215.xml",{"title":165,"description":6},"notice of other lease default",[167,168],{"label":18,"url":111},{"label":21,"url":169},"business-letters","notice default","/template/notice-of-default-D1215",false,{"seo":174,"reviewer":185,"quick_facts":189,"at_a_glance":191,"personas":195,"variants":219,"glossary":245,"clauses":276,"how_to_fill":317,"common_mistakes":358,"faqs":375,"industries":400,"comparisons":417,"diy_vs_pro":431,"related_template_ids_curated":444,"schema":454,"classification":456},{"meta_title":175,"meta_description":176,"primary_keyword":15,"secondary_keywords":177},"Notice of Exercise of Lease Option Template | Free Word Download","Free notice of exercise of lease option template. Formally notify your landlord you are exercising a purchase or renewal option under your lease.",[178,179,180,181,182,183,184],"lease option exercise notice template","notice to exercise option to purchase","lease renewal option notice letter","exercise lease option letter","tenant option notice template","commercial lease option exercise","notice of exercise of purchase option template",{"name":186,"credential":187,"reviewed_date":188},"Bruno Goulet","CEO, Business in a Box","2026-05-02",{"difficulty":190,"legal_review_recommended":172,"signature_required":172},"easy",{"what_it_is":192,"when_you_need_it":193,"whats_inside":194},"A Notice of Exercise of Lease Option is a formal written letter a tenant sends to a landlord or property owner to declare their intent to act on an option clause contained in an existing lease agreement — most commonly an option to purchase the property or an option to renew the lease for an additional term. This free Word download gives you a ready-to-edit letter you can complete in minutes and send by certified mail or email to preserve your contractual rights.\n","Send it as soon as you decide to exercise the option and always before the deadline specified in the original lease. Missing the notice window — even by one day — can legally extinguish the option and forfeit any deposit or goodwill built up over the tenancy.\n","The letter identifies both parties and the property, references the specific option clause in the lease, states the election clearly, specifies the exercise date, and requests written confirmation from the landlord. It provides a clean paper trail that proves timely, unambiguous notice.\n",[196,200,204,208,211,215],{"title":197,"use_case":198,"icon_asset_id":199},"Commercial tenants","Exercising a purchase or renewal option on retail, office, or warehouse space","persona-small-business-owner",{"title":201,"use_case":202,"icon_asset_id":203},"Franchise operators","Renewing a lease term to protect a location tied to a franchise agreement","persona-franchise-applicant",{"title":205,"use_case":206,"icon_asset_id":207},"Real estate investors","Converting a lease-option arrangement into a property purchase","persona-real-estate-investor",{"title":209,"use_case":210,"icon_asset_id":199},"Small business owners","Locking in an additional lease term to secure operational continuity",{"title":212,"use_case":213,"icon_asset_id":214},"Property managers","Sending notice on behalf of tenant clients before an option deadline","persona-property-manager",{"title":216,"use_case":217,"icon_asset_id":218},"Attorneys and paralegals","Drafting timely option notices to protect client lease rights","persona-attorney",[220,224,228,231,234,238,242],{"situation":221,"recommended_template":222,"slug":223},"Exercising an option to purchase the leased property","Notice of Exercise of Lease Option (Purchase)","notice-of-exercise-of-lease-option-D1212",{"situation":225,"recommended_template":226,"slug":227},"Exercising an option to renew the lease for an additional term","Lease Renewal Notice","notice-of-breach-of-lease-D1185",{"situation":229,"recommended_template":230,"slug":227},"Notifying a landlord you will not exercise your option","Notice of Non-Renewal of Lease",{"situation":232,"recommended_template":89,"slug":233},"Terminating a lease before the option window opens","lease-termination-letter-D13724",{"situation":235,"recommended_template":236,"slug":237},"Documenting agreed terms after the option is exercised","Lease Amendment","amendment-agreement-D13872",{"situation":239,"recommended_template":240,"slug":241},"Entering a new lease-option arrangement from scratch","Lease Agreement with Option to Purchase","equipment-lease-agreement-with-option-to-purchase-D1143",{"situation":243,"recommended_template":146,"slug":244},"Sending formal notice of any lease-related dispute or claim","demand-letter-D13262",[246,249,252,255,258,261,264,267,270,273],{"term":247,"definition":248},"Lease Option","A contractual right granted to a tenant allowing them to purchase or renew the lease on a property at pre-agreed terms within a specified time window.",{"term":250,"definition":251},"Option Period","The defined window of time during which the tenant may validly exercise their option — typically stated in the lease as a number of days before the lease expiration.",{"term":253,"definition":254},"Option to Purchase","A clause giving the tenant the right — but not the obligation — to buy the leased property at a set price or formula during the option period.",{"term":256,"definition":257},"Option to Renew","A clause giving the tenant the right to extend the lease for one or more additional terms, usually at the same or market-adjusted rent.",{"term":259,"definition":260},"Time of the Essence","A legal principle requiring that deadlines be met precisely — a notice submitted one day late is treated as no notice at all when this clause is in the lease.",{"term":262,"definition":263},"Notice Period","The minimum number of days before a lease event — expiration, rent change, or option deadline — by which a formal written notice must be received.",{"term":265,"definition":266},"Certified Mail","A postal service that provides a signed delivery receipt, creating a timestamped record that notice was sent and received on a specific date.",{"term":268,"definition":269},"Option Consideration","A payment — often a deposit or premium — made by the tenant to secure the lease option right, typically credited toward the purchase price if exercised.",{"term":271,"definition":272},"Earnest Money","A deposit paid by a buyer or tenant upon exercising a purchase option, demonstrating intent and holding the property during the transaction period.",{"term":274,"definition":275},"Landlord of Record","The legal owner or authorized representative of the property to whom formal notices must be addressed under the lease agreement.",[277,282,287,292,297,302,307,312],{"name":278,"plain_english":279,"sample_language":280,"common_mistake":281},"Date and header","States the date the notice is sent, the sender's full name and address, and the landlord's full legal name and address.","[DATE]\n[TENANT FULL NAME]\n[TENANT ADDRESS]\n\n[LANDLORD FULL NAME / ENTITY]\n[LANDLORD ADDRESS]","Using a business trading name instead of the legal entity name on record — if the lease names 'Maple Holdings LLC' and you address it to 'John Maple,' the notice may be challenged as improperly served.",{"name":283,"plain_english":284,"sample_language":285,"common_mistake":286},"Subject line","Clearly labels the letter as a notice of exercise of lease option, referencing the property address and lease date.","RE: Notice of Exercise of Lease Option — [PROPERTY ADDRESS], Lease Dated [ORIGINAL LEASE DATE]","Omitting the subject line entirely. Without it, the letter can be misfiled or routed to the wrong person in a landlord's office, delaying acknowledgment past the deadline.",{"name":288,"plain_english":289,"sample_language":290,"common_mistake":291},"Lease identification","Identifies the governing lease by its full execution date, the parties, and the relevant option clause number or section.","This notice is submitted pursuant to Section [X] of the Lease Agreement dated [DATE] between [TENANT LEGAL NAME] ('Tenant') and [LANDLORD LEGAL NAME] ('Landlord') for the premises located at [PROPERTY ADDRESS] ('Premises').","Citing the wrong clause number. Always cross-check the option clause reference against the original signed lease before sending — a wrong section number invites the landlord to dispute the validity of the notice.",{"name":293,"plain_english":294,"sample_language":295,"common_mistake":296},"Election statement","The operative sentence that states, clearly and unambiguously, that the tenant is exercising the option.","Tenant hereby exercises its [purchase / renewal] option as set forth in Section [X] of the Lease, effective as of [EXERCISE DATE].","Using tentative language such as 'intends to exercise' or 'is considering exercising.' Courts have held that conditional or exploratory language does not constitute valid exercise of an option.",{"name":298,"plain_english":299,"sample_language":300,"common_mistake":301},"Option terms confirmation","Restates the material terms of the option — purchase price or new rent, term length, and any applicable deposit or credit — to confirm both parties are aligned.","Tenant understands the [purchase price / renewal rent] as stated in the Lease to be $[AMOUNT], with a lease term commencing [START DATE] and expiring [END DATE].","Skipping this paragraph and leaving terms unconfirmed. If the landlord disputes the price or term later, the notice alone — without a restatement of terms — provides less protection.",{"name":303,"plain_english":304,"sample_language":305,"common_mistake":306},"Delivery method and proof","States how the notice is being delivered (certified mail, overnight courier, email with read receipt) to establish a clear record of timely service.","This notice is being delivered by [certified mail, return receipt requested / overnight courier / email with read receipt] in accordance with the notice provisions of the Lease.","Sending only by standard first-class mail with no tracking. If the landlord claims non-receipt and no delivery proof exists, the option may be deemed unexercised.",{"name":308,"plain_english":309,"sample_language":310,"common_mistake":311},"Request for written confirmation","Asks the landlord to acknowledge receipt and confirm acceptance of the option exercise in writing within a reasonable timeframe.","Tenant respectfully requests written confirmation of receipt and acknowledgment of this exercise of option within [10] business days of the date of this letter.","Not requesting confirmation at all. Without a follow-up mechanism, delays in the landlord's response can create ambiguity about whether the process is proceeding on schedule.",{"name":313,"plain_english":314,"sample_language":315,"common_mistake":316},"Closing and signature block","A professional closing, the tenant's printed name, title (if a business entity), and contact information for follow-up.","Sincerely,\n\n[TENANT FULL NAME]\n[TITLE, if applicable]\n[COMPANY NAME, if applicable]\n[PHONE NUMBER]\n[EMAIL ADDRESS]","Signing only a personal name when the tenant is a corporate entity. The letter should be signed by an authorized officer on behalf of the legal entity named in the lease.",[318,323,328,333,338,343,348,353],{"step":319,"title":320,"description":321,"tip":322},1,"Locate and read the option clause in your lease","Find the exact section number of the option clause in your lease. Note the deadline, required notice method (certified mail, overnight, email), and any specific language required for a valid exercise.","Set a calendar reminder at least 30 days before the option deadline — most commercial leases require 30 to 90 days' notice, and missing it forfeits the option entirely.",{"step":324,"title":325,"description":326,"tip":327},2,"Confirm the landlord of record's legal name and address","Check the original lease signature block and any assignment notices to identify the current landlord's legal entity name and the address for formal notices.","If the property has changed hands since the original lease, pull the current owner's name from the county property records before addressing the notice.",{"step":329,"title":330,"description":331,"tip":332},3,"Enter the date and both parties' details","Fill in today's date, your full legal name or entity name and address, and the landlord's full legal name or entity name and notice address exactly as they appear in the lease.","Use your registered business name if you are a corporation or LLC — not a trade name or personal name — to match the lease and avoid a dispute over the sender's identity.",{"step":334,"title":335,"description":336,"tip":337},4,"Complete the subject line and lease identification","Add the property address and the original lease execution date in the subject line. In the opening paragraph, reference the governing lease by date, parties, and the exact section number of the option clause.","Double-check the section number against your physical copy of the lease — even small numbering errors give a motivated landlord grounds to contest the notice.",{"step":339,"title":340,"description":341,"tip":342},5,"Write the election statement clearly","State in plain, unambiguous language that you are exercising the option as of a specific date. Use the word 'hereby exercises' — not 'wishes to exercise' or 'plans to exercise.'","If the lease specifies exact wording for the exercise notice, copy that language verbatim into this paragraph.",{"step":344,"title":345,"description":346,"tip":347},6,"Restate the option terms","Include the purchase price or renewal rent and the applicable term dates from the lease so both parties have a written record of the agreed terms at the time of exercise.","If the option price is formula-based (e.g., appraised value or CPI-adjusted), state the formula and your current calculation of the resulting figure.",{"step":349,"title":350,"description":351,"tip":352},7,"Send by a trackable delivery method and keep proof","Send the notice by certified mail with return receipt, overnight courier with signature confirmation, or email with read receipt — whichever the lease requires or permits. Retain proof of delivery.","Send by all available methods if you are close to the deadline — certified mail plus email — and keep both delivery receipts in your lease file.",{"step":354,"title":355,"description":356,"tip":357},8,"Follow up if no confirmation is received","If the landlord does not acknowledge receipt within 10 business days, send a follow-up letter referencing your original notice date and delivery confirmation number.","Document every communication after the notice in writing — phone calls and verbal assurances are not enforceable.",[359,363,367,371],{"mistake":360,"why_it_matters":361,"fix":362},"Sending after the option deadline","Most leases treat the option as automatically expired if notice is not received before the stated deadline. Courts enforce 'time is of the essence' clauses strictly, with no grace period.","Track the deadline on your calendar 60, 30, and 10 days out. Send the notice at least 5 business days before the deadline to absorb any delivery delays.",{"mistake":364,"why_it_matters":365,"fix":366},"Using tentative or conditional language","Phrases like 'we intend to exercise' or 'we would like to exercise' have been held by courts not to constitute a valid exercise, leaving the option legally unexercised.","Use present-tense, affirmative language: 'Tenant hereby exercises its option.' Review the lease for any required exercise language and copy it exactly.",{"mistake":368,"why_it_matters":369,"fix":370},"Sending notice to the wrong party or address","If the property has been sold or the landlord's designated notice address has changed, notice sent to the old address may be invalid — even if it was the correct address when the lease was signed.","Verify the current owner and notice address against the lease's most recent amendment, any assignment agreement, or the county property records before sending.",{"mistake":372,"why_it_matters":373,"fix":374},"Failing to retain proof of delivery","Without a delivery receipt or read confirmation, a landlord who claims non-receipt leaves you unable to prove the notice was timely, forcing expensive litigation to reconstruct the timeline.","Always use certified mail, overnight courier with signature, or email with a timestamped read receipt. Store the proof in your lease file permanently.",[376,379,382,385,388,391,394,397],{"question":377,"answer":378},"What is a notice of exercise of lease option?","A notice of exercise of lease option is a formal written letter a tenant sends to a landlord to declare that they are acting on a pre-agreed option clause in their lease — most commonly an option to purchase the property or to renew the lease for an additional term. The notice creates a binding contractual record that the tenant has elected to exercise their right within the permitted window.\n",{"question":380,"answer":381},"When must a notice of exercise of lease option be sent?","The deadline is set by the option clause in the original lease — typically 30 to 90 days before the lease expiration or option expiry date. Most leases include a 'time is of the essence' provision, meaning a notice received even one day late may be treated as no notice at all. Always send the notice well before the deadline and retain proof of delivery.\n",{"question":383,"answer":384},"Does a notice of exercise of lease option need to be signed?","A formal signature is not strictly required for the letter to be effective in most jurisdictions, but signing it — and signing as an authorized officer if the tenant is a business entity — is strongly advisable. A signed notice removes any doubt about the sender's authority and intent, and reduces the landlord's ability to challenge it on procedural grounds.\n",{"question":386,"answer":387},"Can the landlord refuse a valid notice of exercise of lease option?","If the notice is delivered on time and in the form required by the lease, the landlord generally cannot refuse it — the option is a contractual right already bargained for in the lease. A landlord who refuses a valid exercise notice may be in breach of the lease, giving the tenant grounds for damages or specific performance. Consult a real estate attorney if a landlord disputes a properly served notice.\n",{"question":389,"answer":390},"What happens if I miss the option notice deadline?","Missing the notice deadline typically extinguishes the option. The landlord has no obligation to honor the exercise, may renegotiate terms from scratch, or may choose to lease the property to another party. In some cases, a landlord may agree to waive the deadline in writing — but they are under no obligation to do so, and any such waiver should be documented in a signed amendment.\n",{"question":392,"answer":393},"What delivery method should I use for a lease option notice?","Use whichever method your lease requires — this is often certified mail with return receipt, overnight courier, or hand delivery. If the lease permits email, send by email and also by certified mail to create two delivery records. Never rely on regular first-class mail alone for a time-sensitive notice, as there is no delivery proof.\n",{"question":395,"answer":396},"Do I need a lawyer to send a notice of exercise of lease option?","For a straightforward renewal option on a standard commercial lease, a template letter is typically sufficient if you follow the form and timing requirements in your lease. Consider engaging a real estate attorney if the option value is significant, the landlord is likely to dispute the exercise, the purchase involves complex title or financing issues, or you are uncertain whether the option is still valid.\n",{"question":398,"answer":399},"What is the difference between a lease option and a lease renewal?","A lease option is a contractual right granted in the original lease that the tenant must actively exercise before a deadline — it does not take effect automatically. A lease renewal may refer to either an automatic rollover built into the lease or a new agreement negotiated after expiry. The notice of exercise of lease option is specifically used to trigger a lease option, not to confirm an automatic renewal.\n",[401,405,409,413],{"industry":402,"icon_asset_id":403,"specifics":404},"Retail","industry-retail","Retail tenants exercise renewal options to protect high-traffic locations where relocation would disrupt customer relationships and require costly fit-out.",{"industry":406,"icon_asset_id":407,"specifics":408},"Professional Services","industry-professional-services","Law firms, accountants, and consultants use purchase options to convert long-term office leases into owned assets once the business is established.",{"industry":410,"icon_asset_id":411,"specifics":412},"Food and Beverage","industry-food-beverage","Restaurant operators depend on lease renewal options to protect the goodwill tied to a specific address, where moving means effectively starting over.",{"industry":414,"icon_asset_id":415,"specifics":416},"Manufacturing","industry-manufacturing","Industrial tenants exercise purchase options on warehouses and production facilities to lock in below-market prices negotiated at lease signing.",[418,422,425,429],{"vs":419,"vs_template_id":420,"summary":421},"Lease Renewal Letter","","A lease renewal letter requests a new lease term from the landlord and opens a negotiation. A notice of exercise of lease option enforces a pre-agreed contractual right — no negotiation is required or appropriate. If your lease contains an option clause, use this notice; if there is no option and you simply wish to continue, use a lease renewal letter.",{"vs":89,"vs_template_id":423,"summary":424},"lease-termination-letter-D1199","A lease termination letter formally ends the tenancy and triggers checkout obligations. A notice of exercise of lease option extends or converts it. The two documents are functionally opposite — use the termination letter when you are leaving, the option notice when you are staying or buying.",{"vs":426,"vs_template_id":427,"summary":428},"Letter of Intent (LOI)","letter-of-intent-to-purchase-real-estate-D13612","A letter of intent expresses preliminary interest in purchasing or leasing a property and typically precedes formal negotiations. A notice of exercise of lease option is not preliminary — it is the binding invocation of an existing contractual right. An LOI opens a deal; an option notice closes one.",{"vs":236,"vs_template_id":420,"summary":430},"A lease amendment modifies one or more terms of an existing lease and requires the landlord's signature to be effective. A notice of exercise of lease option is a unilateral declaration by the tenant — no landlord agreement is needed once a valid notice is served. The amendment typically comes after the option is exercised, to document the resulting new terms.",{"use_template":432,"template_plus_review":436,"custom_drafted":440},{"best_for":433,"cost":434,"time":435},"Tenants exercising a standard renewal or purchase option on a residential or small commercial lease","Free","15–20 minutes",{"best_for":437,"cost":438,"time":439},"Commercial tenants exercising high-value purchase options or options on properties with complex title history","$150–$400 for a real estate attorney review","1–2 business days",{"best_for":441,"cost":442,"time":443},"Tenants facing a landlord dispute over option validity, multi-property portfolios, or cross-border commercial arrangements","$500–$1,500+","3–7 business days",[233,445,446,447,227,244,448,449,450,451,452,453],"offer-to-purchase-real-estate-property-D1190","lease-agreement-D1179","exclusive-lease-agreement-D12808","notice-of-default-D1215","real-estate-purchase-agreement-D13234","notice-of-intent-to-vacate-premises-D13230","landlord-consent-to-sublease-agreement-D13019","property-management-agreement-D1196","letter-of-intent_acquisition-of-business-D5197",{"emit_how_to":455,"emit_defined_term":455},true,{"primary_folder":97,"secondary_folder":457,"document_type":458,"industry":459,"business_stage":460,"tags":461,"confidence":465},"real-estate-and-leases","notice","real-estate","all-stages",[458,459,462,463,464],"tenant","legal","lease-option",0.95,"\u003Ch2>What is a Notice of Exercise of Lease Option?\u003C/h2>\n\u003Cp>A \u003Cstrong>Notice of Exercise of Lease Option\u003C/strong> is a formal written letter a tenant sends to a landlord to invoke a pre-agreed option clause in an existing lease agreement — most commonly an option to purchase the leased property at a set price, or an option to renew the lease for one or more additional terms. Unlike a request or a negotiation, this letter is a unilateral declaration: once a valid notice is delivered within the required window, the tenant has exercised a contractual right the landlord already granted. The letter identifies the parties, the property, and the specific clause being invoked, states the election in clear and unambiguous terms, and creates a timestamped paper trail proving the option was exercised on time.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Lease options are only as valuable as your ability to exercise them correctly. Most commercial leases include a "time is of the essence" provision, meaning a notice submitted even one day after the deadline is legally void — the option expires, any option premium paid is forfeited, and the landlord is free to offer the property to anyone else. Sending an informal email, a verbal conversation, or a vaguely worded letter carries real risk: courts have rejected exercises that used tentative language like "we intend to exercise" rather than an unambiguous declaration. This template gives you a correctly structured notice with every required element — lease identification, clear election language, term confirmation, delivery method, and a request for written acknowledgment — so your option exercise is documented, defensible, and impossible to dispute on procedural grounds.\u003C/p>\n",1779808894010]