抖阴短视频

Lease Extension Amendment Template for Philippines

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Key Requirements PROMPT example:

Lease Extension Amendment

"I need a Lease Extension Amendment for our commercial warehouse lease in Manila, extending the current term by 3 years from January 1, 2025, with a 5% annual rent increase and updated insurance requirements."

Document background
The Lease Extension Amendment is a crucial document used in the Philippine real estate market when parties wish to continue their landlord-tenant relationship beyond the original lease term. This document type is particularly relevant in both commercial and residential contexts, where the original lease agreement is still satisfactory but requires an extension of its duration. It must comply with Philippine property and contract laws, including the Civil Code of the Philippines and the Rent Control Act of 2020 for residential properties. The amendment typically includes the extended term duration, any rent adjustments, and confirmation of continuing terms from the original lease. It's commonly used in situations where a full lease renegotiation isn't necessary but a formal documentation of the extended term is required. The document may need to be notarized and registered with appropriate authorities, especially for longer-term extensions.
Suggested Sections

1. Parties: Identification of the Landlord and Tenant, including their complete legal names, addresses, and tax identification numbers as required under Philippine law

2. Background: Reference to the original lease agreement, including its execution date, property details, and any previous amendments

3. Definitions: Key terms used in the amendment, particularly defining 'Original Lease', 'Extended Term', and any new terms introduced in the amendment

4. Extension of Term: Clear statement of the new lease termination date and the commencement date of the extension

5. Rent and Payment Terms: Specification of any rent adjustments during the extended term, including payment schedule and methods

6. Confirmation of Other Terms: Affirmation that all other terms and conditions of the original lease remain in full force and effect

7. Governing Law: Confirmation that the amendment is governed by Philippine law

8. Execution: Signature blocks for all parties, including space for witnesses as required under Philippine practice

Optional Sections

1. Security Deposit Adjustment: Include when the extension requires modifications to the security deposit amount

2. Modifications to Original Terms: Include when any original lease terms are being modified beyond just the extension of term

3. Broker Representation: Include when a broker was involved in negotiating the extension

4. Registration Requirements: Include when the lease term exceeds one year, requiring registration under the Property Registration Decree

5. Authority to Execute: Include when any party is a corporation or signing through a representative

6. Condition of Premises: Include when there are specific agreements about the current condition of the premises or required improvements

Suggested Schedules

1. Schedule A - Original Lease: Copy or summary of the original lease agreement being extended

2. Schedule B - Updated Rent Schedule: Detailed breakdown of rent payments for the extended term, including any escalations

3. Schedule C - Property Description: Description of the leased premises, particularly important if there have been any modifications

4. Appendix 1 - Corporate Authorizations: Relevant corporate resolutions or powers of attorney authorizing the execution of the amendment

5. Appendix 2 - Condition Report: Current condition assessment of the property, if relevant to the extension terms

Authors

Alex Denne

Head of Growth (Open Source Law) @ 抖阴短视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
























Clauses

























Relevant Industries

Real Estate

Retail

Office Space

Industrial

Hospitality

Healthcare

Education

Manufacturing

Logistics

Warehousing

Commercial Services

Residential

Relevant Teams

Legal

Real Estate

Operations

Facilities Management

Finance

Administration

Corporate Services

Property Management

Contract Administration

Risk Management

Relevant Roles

Property Manager

Real Estate Manager

Facilities Manager

Legal Counsel

Corporate Lawyer

Operations Manager

Asset Manager

Lease Administrator

Real Estate Director

Contract Manager

Business Operations Manager

Chief Financial Officer

Real Estate Officer

Company Secretary

Administrative Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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