Sample Business Contracts

Master Amendment to Lease Agreements - Prison Realty Trust Inc. and Corrections Corporation of America

Free Customizable Lease Forms

  • Commercial Lease. 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.
  • Commercial Sublease. 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.
  • Sublease Agreement. 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 Lease. 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.
  • Office Space Lease. 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.

Sponsored Links


        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;

        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:


                                    PRISON REALTY TRUST, INC.

                                    By: /s/ Doctor R. Crants

                                    Its: Chief Executive Officer


                                    CORRECTIONS CORPORATION OF AMERICA

                                    By: /s/ Darrell K. Massengale

                                    Its: Chief Financial Officer and Secretary


<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)