Puerto Rico Notice of Extension of Primary Term of Lease Letter to Lessor

• Category: Oil Gas and Minerals - Notices
• State: Multi-State
• Control #: US-OG-601
• Format: Word; Rich Text

Description

This is a form of Letter for Notice of the Extension of the Primary Term of a Lease. Puerto Rico Notice of Extension of Primary Term of Lease Letter to Lessor Dear [Lessor's Name], Subject: Extension of Primary Term of Lease Agreement [Lease Agreement Number] I hope this letter finds you in good health and high spirits. I am writing to inform you of our intent to extend the primary term of the lease agreement between [Tenant's Name] and [Lessor's Name] for the property located at [Address of the Property]. As per the original lease agreement signed on [Starting Date of the Lease], the primary term was set to expire on [Original Expiry Date]. However, after careful consideration and mutual agreement between both parties, we kindly request an extension of the primary term. Reasons for Extension: 1. Business Continuity: The [Tenant's Name] business has been thriving in the premises, and extending the lease would allow us to ensure continuity in providing our services to the local community and contribute to the overall economic growth of Puerto Rico. 2. Property Improvement: Since moving into the premises, we have made significant investments in infrastructure upgrades and improvements, which have added value to the property. Extending the lease would allow us to enjoy the benefits of these investments in the long run. 3. Successful Partnerships: Our business relationships have flourished in Puerto Rico, and our extended presence would foster stronger partnerships with local suppliers and customers, benefiting both parties involved. Terms of Extension: 1. Duration: We propose extending the primary term by [Proposed Extension Duration], starting from [Proposed Extension Start Date] and ending on [Proposed Extension End Date]. 2. Rental Payment: The existing rental terms, including the monthly rental fee of [Proposed Rental Amount], will remain unchanged during the extended period. 3. Maintenance and Repairs: [Tenant's Name] will continue to be responsible for the regular maintenance and repairs of the property as outlined in the original lease agreement. 4. Lease Termination: In the case either party wishes to terminate the lease before the extended term ends, we agree to provide written notice of [Notice Period] days in accordance with the original lease agreement. We believe that extending the primary term of the lease agreement is mutually beneficial and aligns with the interests of both parties involved. We kindly request your prompt review of this letter and your agreement to the proposed extension. Please sign and return a copy of this letter to our office as acknowledgement of your acceptance of the extension of the primary term. If you have any questions or concerns, please do not hesitate to contact us at [Tenant's Contact Information]. Thank you for your attention to this matter. We value our partnership and look forward to continuing our tenancy at the premises. Warm regards, [Tenant's Name] [Tenant's Position] [Tenant's Contact Information] Additional Types of Puerto Rico Notice of Extension of Primary Term of Lease Letter to Lessor: 1. Puerto Rico Commercial Lease Extension Letter: Used for extending the primary term of a commercial lease agreement in Puerto Rico. 2. Puerto Rico Residential Lease Extension Letter: Used for extending the primary term of a residential lease agreement in Puerto Rico. 3. Puerto Rico Rental Property Lease Extension Letter: Used for extending the primary term of a lease agreement for a rental property in Puerto Rico. 4. Puerto Rico Agricultural Lease Extension Letter: Used for extending the primary term of a lease agreement for agricultural land in Puerto Rico.

Puerto Rico Notice of Extension of Primary Term of Lease Letter to Lessor Dear [Lessor's Name], Subject: Extension of Primary Term of Lease Agreement [Lease Agreement Number] I hope this letter finds you in good health and high spirits. I am writing to inform you of our intent to extend the primary term of the lease agreement between [Tenant's Name] and [Lessor's Name] for the property located at [Address of the Property]. As per the original lease agreement signed on [Starting Date of the Lease], the primary term was set to expire on [Original Expiry Date]. However, after careful consideration and mutual agreement between both parties, we kindly request an extension of the primary term. Reasons for Extension: 1. Business Continuity: The [Tenant's Name] business has been thriving in the premises, and extending the lease would allow us to ensure continuity in providing our services to the local community and contribute to the overall economic growth of Puerto Rico. 2. Property Improvement: Since moving into the premises, we have made significant investments in infrastructure upgrades and improvements, which have added value to the property. Extending the lease would allow us to enjoy the benefits of these investments in the long run. 3. Successful Partnerships: Our business relationships have flourished in Puerto Rico, and our extended presence would foster stronger partnerships with local suppliers and customers, benefiting both parties involved. Terms of Extension: 1. Duration: We propose extending the primary term by [Proposed Extension Duration], starting from [Proposed Extension Start Date] and ending on [Proposed Extension End Date]. 2. Rental Payment: The existing rental terms, including the monthly rental fee of [Proposed Rental Amount], will remain unchanged during the extended period. 3. Maintenance and Repairs: [Tenant's Name] will continue to be responsible for the regular maintenance and repairs of the property as outlined in the original lease agreement. 4. Lease Termination: In the case either party wishes to terminate the lease before the extended term ends, we agree to provide written notice of [Notice Period] days in accordance with the original lease agreement. We believe that extending the primary term of the lease agreement is mutually beneficial and aligns with the interests of both parties involved. We kindly request your prompt review of this letter and your agreement to the proposed extension. Please sign and return a copy of this letter to our office as acknowledgement of your acceptance of the extension of the primary term. If you have any questions or concerns, please do not hesitate to contact us at [Tenant's Contact Information]. Thank you for your attention to this matter. We value our partnership and look forward to continuing our tenancy at the premises. Warm regards, [Tenant's Name] [Tenant's Position] [Tenant's Contact Information] Additional Types of Puerto Rico Notice of Extension of Primary Term of Lease Letter to Lessor: 1. Puerto Rico Commercial Lease Extension Letter: Used for extending the primary term of a commercial lease agreement in Puerto Rico. 2. Puerto Rico Residential Lease Extension Letter: Used for extending the primary term of a residential lease agreement in Puerto Rico. 3. Puerto Rico Rental Property Lease Extension Letter: Used for extending the primary term of a lease agreement for a rental property in Puerto Rico. 4. Puerto Rico Agricultural Lease Extension Letter: Used for extending the primary term of a lease agreement for agricultural land in Puerto Rico.