To
Michael Fletcher
56, Austin Colony, Central London
UK
25TH July 2012
Sub- Lease Extension Approval Letter
Dear Mr. Michael
I am writing this letter to inform you that your application for extension of lease has being approved by me. The lease which was set to expire on 31st August 2012 is now being extended for a period of three years. The next renewal date for the lease would be on 31st August 2015. All the terms and conditions of the lease remains the same but with some minor modifications. The monthly rent which was earlier increased by 10% per annum is now revised to 20% per annum. The monthly rent effective form 1st September 2012 would become $3000 per month from the present rent of $2500 per month and it will subsequently increase by 20% on yearly basis. Earlier the rent was to be paid by you on bi-monthly advance basis but from now onwards you can pay it on monthly advance basis if you want.
I look forward for a long term relationship with you. Please contact me in case you have any queries regarding the matter. I will look forward for an early response from your side.
Yours Sincerely
Ricky Martin (Landlord)
