North Dakota Option to Renew Clause

• Category: Leases - Contracts
• State: Multi-State
• Control #: US-CL-610-1
• Format: Word; Rich Text

Description

Example of a clause regarding Options to Renew Lease of property. An option to renew or extend the lease means that upon the tenant's exercise of the option (choice), the provisions of the agreed-upon option are adopted for another defined term. The terms of the option can include the length of the new term, a change in rent, and other modifications.