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Lease Modification Agreement
"I need a Lease Modification Agreement for our commercial office space in Mumbai to increase the monthly rent by 15% and extend the lease term until March 2025, with all other original lease terms remaining unchanged."
1. Parties: Identification of the lessor/landlord and lessee/tenant with complete details
2. Background: Recitals describing the original lease, its key terms, and the reason for modification
3. Definitions: Definitions of key terms, including references to original lease definitions
4. Reference to Original Lease: Specific reference to the original lease agreement including date, registration details, and current status
5. Modifications: Clear statement of each modification being made to the original lease
6. Effect on Original Lease: Confirmation that all other terms of the original lease remain unchanged
7. Effective Date: The date from which the modifications will take effect
8. Registration and Stamp Duty: Provisions regarding registration requirements and stamp duty payment
9. Governing Law: Confirmation of Indian law as governing law and jurisdiction
10. Execution: Signature blocks for all parties and witnesses
1. Rent Modification: Detailed section specifying new rent terms, applicable when rent is being modified
2. Term Extension: Section detailing the extended term and conditions, used when lease period is being modified
3. Security Deposit Adjustment: Section addressing changes to security deposit, if applicable
4. Premises Modification: Details of any changes to the leased premises or permitted use
5. Additional Rights and Obligations: New rights or obligations being added to the original lease
6. Maintenance and Repairs: Modified terms regarding maintenance responsibilities, if being changed
7. Insurance Requirements: Modified insurance requirements, if being updated
8. Force Majeure: Additional or modified force majeure provisions, if being updated
1. Schedule A - Property Description: Detailed description of the leased property including any modifications
2. Schedule B - Modified Terms: Comprehensive list of all modifications with original and new terms in tabular format
3. Schedule C - Rent Schedule: Updated rent schedule if rent terms are modified
4. Schedule D - Floor Plan: Updated floor plan if there are changes to the leased area
5. Appendix 1 - Original Lease: Copy of the original lease agreement for reference
6. Appendix 2 - Required Approvals: Copies of any required approvals or NOCs for the modifications
Authors
Commercial Real Estate
Retail
Industrial
Manufacturing
Information Technology
Banking and Financial Services
Healthcare
Hospitality
Education
Logistics and Warehousing
Legal
Real Estate
Facilities Management
Finance
Operations
Compliance
Administration
Property Management
Asset Management
Risk Management
Real Estate Manager
Facilities Manager
Legal Counsel
Property Manager
Operations Director
Chief Financial Officer
Lease Administrator
Asset Manager
Corporate Real Estate Manager
Compliance Officer
Contract Manager
Real Estate Director
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