Bronx New York Amendment and Waiver of Surface Lease Rental Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• County: Bronx
• Control #: US-OG-922
• Format: Word; Rich Text

Description

This form is an amendment and waiver of surface lease rental agreement. Bronx New York Amendment and Waiver of Surface Lease Rental Agreement is a legally binding document that allows modifications and changes to an existing lease agreement regarding the surface usage of a property located in the Bronx, New York. This agreement outlines the terms and conditions under which the lessor and lessee agree to waive certain provisions, amend rental terms, or modify any other aspect of the original lease. The purpose of this amendment and waiver is to accommodate specific requirements or changes that may have arisen since the initial lease agreement was executed. It enables both parties to negotiate and mutually agree on an updated set of terms, taking into consideration any alterations in circumstances or evolving needs. Key components usually addressed in a Bronx New York Amendment and Waiver of Surface Lease Rental Agreement may include: 1. Parties involved: Identifies the lessor (property owner) and lessee (tenant) involved in the lease agreement. 2. Effective date: Specifies the date from which the amendment or waiver will take effect. 3. Surface lease modifications: Outlines the specific provisions of the original agreement that need to be modified or waived. 4. Rental terms: Details any changes to the rent amount, payment schedule, escalation clauses, or any other financial obligations of the lessee. 5. Additional obligations: Includes any new responsibilities or obligations imposed on either party as a result of the amendment or waiver. 6. Duration and termination: Specifies the duration of the amendment or waiver, as well as any conditions that may lead to termination. 7. Governing law: Determines the jurisdiction under which the agreement falls, typically New York state law. 8. Signatures: Requires the signatures of both the lessor and lessee, indicating their consent and acceptance of the terms stated in the amendment or waiver. Different types of amendments and waivers may include: 1. Rent adjustment amendment: This type of amendment mainly focuses on revising the rental amount and related provisions. 2. Extension or renewal amendment: Used when both parties agree to extend or renew the lease beyond the initial term. 3. Usage modification amendment: Involves granting permission to the lessee for a different usage or altering specific restrictions on the property. 4. Termination waiver: Allows the lessee to waive their right to terminate the lease according to certain conditions, usually based on mutual agreement. In conclusion, a Bronx New York Amendment and Waiver of Surface Lease Rental Agreement serves as a framework for modifying and adapting an existing surface lease to reflect updated terms and conditions. It facilitates the flexibility needed by both parties to make alterations that align with their current requirements.

Bronx New York Amendment and Waiver of Surface Lease Rental Agreement is a legally binding document that allows modifications and changes to an existing lease agreement regarding the surface usage of a property located in the Bronx, New York. This agreement outlines the terms and conditions under which the lessor and lessee agree to waive certain provisions, amend rental terms, or modify any other aspect of the original lease. The purpose of this amendment and waiver is to accommodate specific requirements or changes that may have arisen since the initial lease agreement was executed. It enables both parties to negotiate and mutually agree on an updated set of terms, taking into consideration any alterations in circumstances or evolving needs. Key components usually addressed in a Bronx New York Amendment and Waiver of Surface Lease Rental Agreement may include: 1. Parties involved: Identifies the lessor (property owner) and lessee (tenant) involved in the lease agreement. 2. Effective date: Specifies the date from which the amendment or waiver will take effect. 3. Surface lease modifications: Outlines the specific provisions of the original agreement that need to be modified or waived. 4. Rental terms: Details any changes to the rent amount, payment schedule, escalation clauses, or any other financial obligations of the lessee. 5. Additional obligations: Includes any new responsibilities or obligations imposed on either party as a result of the amendment or waiver. 6. Duration and termination: Specifies the duration of the amendment or waiver, as well as any conditions that may lead to termination. 7. Governing law: Determines the jurisdiction under which the agreement falls, typically New York state law. 8. Signatures: Requires the signatures of both the lessor and lessee, indicating their consent and acceptance of the terms stated in the amendment or waiver. Different types of amendments and waivers may include: 1. Rent adjustment amendment: This type of amendment mainly focuses on revising the rental amount and related provisions. 2. Extension or renewal amendment: Used when both parties agree to extend or renew the lease beyond the initial term. 3. Usage modification amendment: Involves granting permission to the lessee for a different usage or altering specific restrictions on the property. 4. Termination waiver: Allows the lessee to waive their right to terminate the lease according to certain conditions, usually based on mutual agreement. In conclusion, a Bronx New York Amendment and Waiver of Surface Lease Rental Agreement serves as a framework for modifying and adapting an existing surface lease to reflect updated terms and conditions. It facilitates the flexibility needed by both parties to make alterations that align with their current requirements.