Notice of Exercise of Lease Option

COMPANY LETTERHEAD

{{company_name}}

{{company_address}}

Phone: {{company_phone}}

Email: {{company_email}}

Website: {{company_website}}

DATE

{{date}}

LANDLORD DETAILS

{{landlord_name}}

{{landlord_address}}

SUBJECT: NOTICE OF EXERCISE OF LEASE OPTION - LEASE AGREEMENT DATED {{lease_agreement_date}}

Dear {{landlord_name}},

This letter serves as formal notification, as required by the terms of the Lease Agreement dated {{lease_agreement_date}} (the 'Lease Agreement'), between {{company_name}} (the 'Tenant') and {{landlord_name}} (the 'Landlord'), regarding the property located at {{property_address}} (the 'Premises').

EXERCISE OF OPTION

Pursuant to Clause {{option_clause_number}} of the Lease Agreement, which grants the Tenant the option to {{option_type, e.g., renew the lease / purchase the property}}, the Tenant hereby formally exercises this option.

The terms and conditions of the {{option_type}} shall be as stipulated in the aforementioned Clause {{option_clause_number}} of the Lease Agreement.

SPECIFIC TERMS OF EXERCISE (IF APPLICABLE)

In exercising this option, we confirm our understanding and acceptance of the following specific terms, as outlined in the Lease Agreement:

1. {{term_1_description}}

2. {{term_2_description}}

3. {{term_3_description}}

We anticipate that the {{new_lease_term_start_date / purchase_completion_date}} will commence/be completed on or about {{effective_date_of_option_exercise}}.

REQUIREMENTS FOR COMPLETION

We kindly request that you provide us with any necessary documentation or arrangements required to formalise this exercise of option, including but not limited to, a new lease agreement or sales agreement, in accordance with the Lease Agreement.

Please provide these documents by {{response_deadline_date}} to ensure a smooth transition/completion.

CONTACT INFORMATION

Please direct all correspondence and inquiries regarding this matter to:

Contact Person: {{contact_person_name}}

Email: {{contact_person_email}}

Phone: {{contact_person_phone}}

ACKNOWLEDGEMENT

We look forward to your prompt attention to this matter and the continuation/completion of our agreement under the exercised option. We reserve all rights and remedies available to us under the Lease Agreement and applicable law.

SIGNATURE

Sincerely,

_____________________________

{{tenant_authorised_signatory_name}}

{{tenant_authorised_signatory_title}}

For and on behalf of {{company_name}}