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Lease Extension (Type B)
LEASE EXTENSION-TYPE B
[Date]
[Mr/Mrs/Ms/Dr] [First Name of receipient] [Last Name of receipient]
[Title of receipient]
[Company of receipient]
[Address of receipient]
[City of receipient], [State of recipient] [Zip Code of receipient]
Dear [Mr/Mrs/Ms/Dr] [Last Name of recipient]:
Re: Lease Renewal
This is to notify you that we are exercising the option to renew our lease of [Address of property] for a further term of [New term] years, contained in section [Section Number] of the lease.
Please advise us of the rent you propose to charge in the renewed term so that we can decide whether or not to accept the renewal or to submit the matter to arbitration in accordance with the provisions of section [Section Number of Arbitration] of the lease.
Very truly yours,
Signature
Company