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OPTION(S) TO EXTEND STANDARD LEASE ADDENDUM Dated By and Between (Lessor) By and Between (Lessee) Address of Premises: Paragraph A. OPTION(S) TO EXTEND: Lessor hereby grants to Lessee the option to
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Options to extend refer to a clause in a contract that allows the parties to extend the term or duration of the contract for an additional period of time.
The party or parties involved in the contract who wish to extend the term are required to file options to extend.
Options to extend are typically filled out by indicating the desired extension period, any additional terms or conditions, and both parties sign to agree to the extension.
The purpose of options to extend is to provide flexibility to the parties involved in the contract to continue their business relationship beyond the initial term.
The options to extend should include details such as the new term, any updated terms or conditions, and signatures of both parties agreeing to the extension.
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