TOEIC ETS

Commercial Lease Agreement ========= This agreement is made on March 7 between Henrietta Gibbs (landlord) and Nathan Hoffman (tenant). The landlord agrees to lease commercial space to the tenant from April 1 to December 31 for the purpose of operating Hoffman Art Gallery. Both parties agree to the following terms and conditions: Section 1: Leased Premises The property to be leased is located at 249 Bates Street in Bates Plaza. It consists of a 1,361-squarefoot storefront plus the use of the two parking spaces directly in front of the storefront's entrance. Section 2: Rent & Fees The tenant agrees to pay a base rent of $1,500 on the first day of every month. The tenant will also pay a percentage rent fee of 7% of the business's net profits on a quarterly basis. The tenant will be charged $25 per month and $30 per month, respectively, for maintenance of the sidewalk and restrooms of Bates Plaza. Section 3: Obligations of Tenant The tenant must keep the premises clean and in good condition. All waste must be removed three times per week. Damage caused by the tenant must be reported and repaired at the tenant's expense. Section 4: Renewal or Extension of Agreement The tenant has the option to renew or extend this agreement. The request to do so must be made at least two months before the end of the lease period. Landlord: Henrietta Gibbs Henrietta Gibbs Tenant: Nathan Hoffman Nathan Hoffman Date: march 7 ========== E-Mail message ========= From: Nathan Hoffman To:Henrietta Gibbs Date:October 18 Subject: Lease renewal Dear Ms. Gibbs, I am writing to request the renewal of my lease for a one-year term. Bates Plaza has been a good location for the gallery, so I hope to continue operating there However, I would like to change one of the terms of our agreement. Could the waste disposal requirement be lowered to just once a week? My business does not produce much trash. Please let me know if this is possible. Sincerely, Nathan Hoffman

What is true about the lease agreement?