This document outlines the intention of a Tenant to extend the lease of a property. It also allows a Landlord to state the amount of base rent due after the extension. Therefore, it's useful in situations where rent is being increased, and the Landlord wishes to gain the Tenant's acknowledgement and compliance with this increase.
It's important to note that any definitions and agreements that are not modified by this extension will be governed by the original lease agreement that the two parties signed.
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