Notice of Exercise of Lease Option

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Date and Parties

Date: {{date}}

Landlord Name: {{landlord_name}}

Landlord Address: {{landlord_address}}

Tenant Name: {{tenant_name}}

Tenant Address: {{tenant_address}}

Subject

Subject: Notice of Exercise of Lease Option for Property at {{property_address}}

Reference to Original Lease Agreement

Dear {{landlord_name}},

This letter serves as formal notification of {{tenant_name}}'s election to exercise the option to renew/extend the lease agreement (the "Lease") for the property located at {{property_address}} (the "Premises"). The original Lease Agreement was executed on {{original_lease_start_date}} between {{landlord_name}} as Landlord and {{tenant_name}} as Tenant.

Exercise of Option Terms

Pursuant to Clause {{clause_number}} of the Lease Agreement, which grants the Tenant an option to renew/extend the Lease for an additional period of {{renewal_period}} commencing on {{renewal_start_date}}, we hereby formally exercise this option.

The terms and conditions of the renewed/extended lease period shall be as set forth in the original Lease Agreement, save for any modifications specifically provided for in Clause {{clause_number}} relating to the exercise of this option (e.g., new rent amount, {{new_rent_amount}}).

Confirmation of Terms (if applicable)

We understand that, as per the Lease Agreement, the rent for the renewed term will be {{new_rent_amount}} per {{rent_period}}.

All other terms and conditions of the original Lease Agreement that are not specifically modified by the option clause or this notice shall remain in full force and effect during the renewed/extended term.

Next Steps and Further Documentation

We kindly request your acknowledgment of this notice and, if required by the Lease Agreement, the preparation of any necessary lease addendums or confirmation letters to formalise this renewal/extension.

Please provide any required documentation for our review and execution by {{document_submission_date}}.

Contact Information

Should you have any questions or require further information, please do not hesitate to contact us at {{phone}} or {{email}}.

Signature Block

Sincerely,

___________________________

{{tenant_name}}

By: {{authorised_signer_name}}

Title: {{authorised_signer_title}}

Date: {{date}}