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                                                         LEASE/RENTAL AGREEMENT

 

This agreement made this __________ day of (mo.)_______________ (yr.) __________, is between ______________________________ (hereinafter called
Management) and ______________________________ (hereinafter called Resident). Management leases to Resident, and Resident rents from Management, residential
unit located at __________________________________________________ (hereinafter called premises),
under the following conditions:
1.TERM: The initial term of this lease shall be _______________, beginning (mo./day)__________ (yr.) __________ and ending Noon,
(mo./day)__________ (yr.) __________.

2.POSSESSION: If there is a delay in delivery of possession by Management, rent shall be abated on a daily basis until possession is granted. If
possession is not granted within seven (7) days after the beginning day of initial term, then Resident may void this agreement and
have full refund of
any deposit. Management shall not be liable for damages for delay in possession.

3.RENT: Rent is payable monthly, in advance, at a rate of _____________ dollars (_________), per month, during the term of this agreement
on the first day of each month at the office of Management or at such other place Management may designate. Tenant agrees to pay 20
for
each dishonored check.

4.RENT Time is of the essence of this agreement. If the rent is accepted before the close of the business day, on the 4th of each month, the
rate will
DISCOUNT: be _____________ dollars (_________), any returned check will be considered as unpaid rent and not subject to discount

5.EVICTION: If the rent called for in Paragraph 3 hereof has not been paid by the fifteenth (15th) of the month, then Management shall automatically
and
immediately have the right to take out a Dispossessory Warrant and have Resident, his/her family and possessions, evicted from the
premises.
6.INDEMNIFICATION Management acknowledges receipt of ______________________ dollars (______________), as a deposit to indemnify owner
against

DEPOSIT: damage to the property and for Resident's fulfillment of the conditions of this agreement. Deposit will be returned to Resident less a
50 carpet cleaning charge, thirty (30) days after residence is vacated if:
(a) Lease term has expired or agreement has been terminated by both parties; and
(b) All monies due Management by Resident have been paid; and
(c) Residence is not damaged and is left in its original condition, normal wear and tear excepted; and
(d) Management is in receipt of copy of paid final bills on all utilities (includes gas, electric, water, garbage, and telephone).
(e) Deposit will not be returned if Resident leaves before lease time is completed. Deposit may be applied by Management to
satisfy all or part of Resident's obligations and such act shall not prevent Management from claiming damages in excess of
the deposit. Resident may not apply the deposit to any of the rent payment.

RENEWAL It is the intent of both parties that this lease is for a period of__________ months and that the last month's rent will apply only to the last
7.TERM:month of the lease period. Should this lease be breached by the Resident, both the last month's rent and the indemnification deposit
shall be forfeited as liquidated damages and the Resident will owe rent through the last day of occupancy.

8.SUBLET: Resident may not sublet residence or assign this lease without written consent of Management.

 

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