Corrections Corp. of America Contracts
Sample Business Contracts
Master Amendment to Lease Agreements - Prison Realty Trust Inc. and Corrections Corporation of America
Lease Forms
- Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
- When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
- Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
- Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
- When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.
MASTER AMENDMENT TO LEASE AGREEMENTS THIS MASTER AMENDMENT TO LEASE AGREEMENTS ("Amendment") is made and entered into as of the 31st day of December, 1999, by and between PRISON REALTY TRUST, INC. (formerly Prison Realty Corporation), a Maryland corporation ("Landlord") and CORRECTIONS CORPORATION OF AMERICA (formerly Correctional Management Services Corporation), a Tennessee corporation ("Tenant"). W I T N E S S E T H: WHEREAS, Landlord and Tenant have entered into those certain Lease Agreements dated January 1, 1999, along with all prior amendments thereto, as set forth on Schedule A (each such lease agreement referred to individually as a "Lease," and collectively as the "Leases"), whereby Landlord agreed to lease to Tenant and Tenant agreed to lease from Landlord certain properties (the property that is the subject of an individual Lease being referred to "Leased Property," and the properties that are the subject of the Leases collectively as "Leased Properties"), as more particularly set forth therein; and WHEREAS, Landlord and Tenant have entered into a Master Agreement to Lease dated January 1, 1999 (the "Master Agreement"), which sets forth certain agreements of the parties with respect to the lease of the Leased Properties; and WHEREAS, Landlord and Tenant now desire to amend the Leases as more particularly set forth herein. NOW, THEREFORE, in consideration of the premises and of their respective agreements and undertakings herein, Landlord and Tenant agree as follows: 1. The Base Rent Schedule which is attached to each Lease as Exhibit B shall be revised to provide that the Rent Escalation Date shall be January 1. 2. Except as specifically modified or amended herein, all terms and provisions of the Lease shall continue and remain in full force and effect. [signatures on the following page] <PAGE> 2 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first set forth above: LANDLORD: PRISON REALTY TRUST, INC. By: /s/ Doctor R. Crants ----------------------------------------- Its: Chief Executive Officer ---------------------------------------- TENANT: CORRECTIONS CORPORATION OF AMERICA By: /s/ Darrell K. Massengale ----------------------------------------- Its: Chief Financial Officer and Secretary ---------------------------------------- 2 <PAGE> 3 SCHEDULE A 1. Lease Agreement (Transcor) 2. Lease Agreement (Headquarters) 3. Lease Agreement (Bent County) 4. Lease Agreement (Bridgeport) 5. Lease Agreement (California City) 6. Lease Agreement (Central Arizona) 7. Lease Agreement (Cibola County) 8. Lease Agreement (Cimarron) 9. Lease Agreement (Coffee) 10. Lease Agreement (Crossroads) 11. Lease Agreement (Davis) 12. Lease Agreement (Diamondback) 13. Lease Agreement (Eden) 14. Lease Agreement (Eloy) 15. Lease Agreement (Houston) 16. Lease Agreement (Huerfano) 17. Lease Agreement (Kit Carson) 18. Lease Agreement (Laredo) 19. Lease Agreement (Leavenworth) 20. Lease Agreement (Lee) 21. Lease Agreement (Marion) 22. Lease Agreement (Mineral Wells) 23. Lease Agreement (NM Women's) 24. Lease Agreement (North Fork) 25. Lease Agreement (Northeast Ohio) 26. Lease Agreement (Otter Creek) 27. Lease Agreement (Prairie) 28. Lease Agreement (River City) 29. Lease Agreement (Shelby) 30. Lease Agreement (T. Don Hutto) 31. Lease Agreement (Torrance County) 32. Lease Agreement (Webb County) 33. Lease Agreement (West Tennessee) 34. Lease Agreement (Wheeler) 35. Lease Agreement (Whiteville) 3