GRANTED OPTION Clause Samples

GRANTED OPTION. Lessor grants Lessee two (2) 2-year options under the same terms and conditions to renew this lease. Notice to exercise each option shall be given to Lessor no later than 120 days prior to expiration of the lease. Rent for the initial year of each option period shall be adjusted for any change in common area maintenance, taxes and insurance, using 1991 as a base year. 12 cents per sq. ft. per month has been used as the power allowance in arriving at the initial rental rate of $1.35. If the average power usage differs from 12 cents per sq. ft. per month over the prior 12 months of the lease, the rental rate shall be adjusted either upward or downward for each succeeding 12 month period, including option periods. RULES AND REGULATIONS ATTACHED TO --------------------------------- AND MADE A PART OF THIS LEASE ----------------------------- 1. (a) No sign, placard, drapery, picture, advertisement, name or notice shall be inscribed, displayed or printed or affixed on or to any part of the outside of the Building without the written consent of Lessor first had and obtained and Lessor shall have the right to remove any such sign, placard, picture, advertisement, name or notice without notice to and at the expense of Lessee.