A lease addendum is an additional agreement added to a previously executed lease. Addendums are used to supplement or change the terms of existing lease. They include terms that were not included in the original lease because of neglect or because they were not yet decided on. Rather than re-writing the entire lease, an addendum can be executed. It is effective throughout the term of the lease, and has the same effect as the original agreement. Breach of the lease addendum constitutes breach of the lease and is subject to the same remedies found in the lease. Lease addendums must contain the entire agreement stipulated to by the parties, be signed and dated by both parties, and bear the date of the original contract. The terms are often verbal agreements made by the parties that are put into writing to avoid confusion. Private property owners can execute an addendum to allow a pet, agree to make repairs, or memorialize a tenant’s promise to keep the yard kept up. Commercial property owners can agree to maintain occupancy, trim the trees, or keep the parking lot in good repair.
Here are five examples of Lease Addendums currently available on RealDealDocs.com:
Peek Traffic Corporation
Commercial Bankshares Inc.
Hallandale Place, Ltd
Altairnano Technologies, Inc.
Flagship Enterprise Center, Inc.
S&F Huntington Millennium LLC
Seebeyond Technologies Corp., Inc.
Excelligence Learning Corp
R.B.I. Holding Company, Inc
Learning Star Corp