LJH Commercial

The Lessor, at their discretion, can take action to terminate your lease if you default on your required payment. Your lease can also be terminated if you breach other terms within your lease agreement after being given reasonable notice to rectify your breach. N.B. Retail Leases Act terms and conditions will be followed in the event of a breach if the Act applies to your lease. ANNUAL INCREASES AND MARKET RENT REVIEW It is a condition of your lease that the rent increases annually by CPI or a fixed percentage. Your Asset Manager will advise you of the increase and apply the annual increase to your monthly rent. At the renewal of your option, your lease agreement may have a clause which allows both Lessor and Lessee to review the rent to market. COMMUNICATIONWITH YOUR ASSET MANAGER The market review allows for the rent to increase to be in line with rent being achieved by other similar properties. The rent can also reduce if the rent is above current market conditions. Your lease agreement gives you an understanding of the protocol on how a market rent is derived at your option renewal. RENEWALS It is an essential requirement as set out in your lease agreement, that you exercise your option renewal both in writing and within the required time frame. Failure to notify LJ Hooker Commercial Central Coast of your intention to renew your lease within the nominated time frames will result in you losing the opportunity to renew your lease. 012 LJ Hooker Commercial Central Coast PAGE