This office lease agreement fully embodies the terms and conditions of the agreement between the parties for the modification [and extension] of the Lease. Any modification, rescission, termination, extension, or waiver of this agreement or any provision made shall not be valid or enforceable unless it is in a writing signed by all parties.
A Michigan Commercial Lease Modification Agreement is a legally binding document signed by the parties involved in a commercial lease contract in Michigan to modify or alter specific provisions of the original lease agreement. This agreement is essential when circumstances change, and both the tenant and landlord need to come to a mutual understanding adjusting existing lease terms. Keywords: Michigan Commercial Lease Modification Agreement, commercial lease, modify, alter, provisions, original lease agreement, tenant, landlord, mutual understanding, lease terms. Different Types of Michigan Commercial Lease Modification Agreements: 1. Rent Modification Agreement: This type of agreement is used when the parties involved desire to modify the rental amount specified in the original lease. It may be due to economic factors, changes in the market, or negotiations between the tenant and the landlord. 2. Lease Extension Agreement: This agreement is utilized when the tenant and landlord agree to extend the duration of the original lease beyond the initial term. It outlines the new lease end date and any additional terms or conditions. 3. Premises Modification Agreement: If there is a need to change the size, layout, or configuration of the leased premises, a Premises Modification Agreement is executed. This document specifies the modifications to be made, outlines any associated costs or responsibilities of the parties, and documents the agreement. 4. Option to Purchase Modification Agreement: In certain cases, a tenant might have an option to purchase the leased property outlined in the original lease agreement. If the tenant and landlord wish to alter the terms of this option, they can execute an Option to Purchase Modification Agreement. This document amends the purchase price, terms, or conditions associated with exercising the option. 5. Use Modification Agreement: If the tenant wishes to change the permitted use of the leased premises, they can enter into a Use Modification Agreement with the landlord. This agreement ensures that any modifications to the permitted use comply with local zoning laws and satisfy both parties' requirements. Remember, each commercial lease modification agreement should accurately reflect the changes being made and be signed by all parties involved. It is advisable to consult legal professionals or real estate experts to ensure the agreement adheres to Michigan commercial leasing laws and protects the rights and obligations of both the tenant and landlord.
