Which of the following describes the document that restates the terms of the lease and further specifies that the lease is valid?

The document that restates the terms of the lease and confirms its validity is known as an estoppel certificate. This document serves to clarify and affirm the details of the lease agreement between the lessor (landlord) and lessee (tenant). The estoppel certificate typically includes key information such as the start and end dates of the lease, the rent amount, and any other relevant terms and conditions.

Moreover, it often requires the tenant to state that the lease is in full effect, there are no outstanding breaches by either party, and that no modifications to the lease have been made. This confirmation is particularly important in situations where the property may be sold or refinanced, as it provides assurance to third parties that the lease terms are accurate and enforceable.

In contrast, other options do not meet this specific function. A monthly draw schedule pertains to financial disbursements rather than lease agreements, a loan commitment letter outlines the conditions under which a lender will provide financing, and a contract enforcement letter may indicate a need to enforce a contract but does not specifically detail the lease terms or confirm its validity like an estoppel certificate does.