Residential Lease With Option To Purchase

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RESIDENTIAL LEASE WITH OPTION TO PURCHASE
THIS AGREEMENT made and entered into on this _______ day of (mo.) ________________ (yr.) ______ by and between
_______________________ hereinafter called Lessor and __________________________________ and/or assigns, hereinafter called Lessee:
The Lessor, for and in consideration of the sum of _____________________ dollars in hand paid by the Lessee, receipt of which is hereby
acknowledged, hereby leases to Lessee, his/her heirs or assignees, the premises situated in the City of ___________________ County of
__________________State of _____________, legally described
as______________________________________________________________________________________________________________
_____________________________________________________________________________________________________________________
__________________________________________________________________________________ .
(If the legal description is not included at the time of execution, it may be attached to and incorporated herein afterward.)
(Street Address: __________________________________________) and consisting of __________________________ upon the following
TERMS and CONDITIONS:
1. Personal Property: Said lease shall include the following personal property:
____________________________________________________________
_____________________________________________________________________________________________________________________________
_______
_______________________________________________________________________________________________________________________
_______ .
2. Term: The term hereof shall commence on (mo./day) _______________, (yr.) _______, and continue for a period of ________ months
thereafter.
3. Rent: Rent shall be $ ____________________ per month, payable in advance, upon the first day of each calendar month to Lessor or his/her
authorized
agent
at
the
following
address:______________________________________________________________________________________________________ or at such
other places as may be designated by Lessor from time to time. In the event rent is not paid within five (5) days after due date, Lessee agrees to
pay a late charge of $ __________________ plus interest at ____________ % per annum on the delinquent amount.
4. Utilities: Lessee shall be responsible for the payment of all utilities and services except
_________________________________________________ which shall be paid by the Lessor.
5. Use: The premises shall be used as a residence and for no other purpose without prior written consent of Lessor.
6. House Rules: In the event that the premises are in a building containing more than one unit, Lessee agrees to abide by any and all house rules,
whether promulgated before or after the execution hereof, including, but not limited to, rules with respect to noise, odors, disposal of refuse,
pets, parking, and use of common areas.
7. Assignment And Subletting: Lessee may assign this agreement or sublet any portion of the premises without prior written consent of
the Lessor.
8. Maintenance, Repairs, Or Alterations: Lessee shall maintain the premises in a clean and sanitary manner including all equipment,
appliances, furniture and furnishings therein, and shall surrender the same at termination thereof, in as good condition as received, normal wear
and tear excepted. Lessee shall be responsible for damages caused by his/her negligence and that of his/her family, or invitees or guests. Lessee
shall maintain any surrounding grounds, including lawns and shrubbery, and keep the same clear of rubbish and weeds, if such grounds are
part of the premises and are exclusively for use of the Lessee.
9. Entry and Inspection: Lessee shall permit Lessor or Lessor’s agents to enter the premises at reasonable times and upon reasonable notice
for the purpose of inspecting the premises or for making necessary repairs.
10. Possession: If Lessor is unable to deliver possession of the premises at the commencement hereof, Lessor shall not be liable for any damage
caused thereby nor shall this agreement be void or voidable, but Lessee shall not be liable for any rent until possession is delivered. Lessee
may terminate this agreement if possession is not delivered within _________ days of the commencement of the term hereof.
11. Security/Option Consideration: The security deposit of $ ____________ shall secure the performance of the Lessee’s obligations
hereunder. Lessor may, but shall not be obligated to, apply all or portions of said deposit on account of Lessee’s obligations hereunder. Any
balance remaining upon termination shall be returned to Lessee.
12. Deposit Funds: Any returnable deposits shall be refunded within fifteen (15) days from the date possession is delivered to Lessor or
his/her authorized agent.
13. Attorney Fees: The prevailing party shall be entitled to all costs incurred in connection with any legal action brought by either party to
enforce the terms hereof or relating to the demised premises, including reasonable attorneys' fees.
14. Notices: Any notice which either party may or is required to give may be given by mailing the same, postage prepaid, to Lessee or at such
other places as may be designated by the parties from time to time.
15. Heirs, Assigns, Successors: This lease and option shall include and insure to and bind the heirs, executors, administrators, successors, and
assigns of the respective parties hereto.
16. Time: Time is of the essence of this agreement. This offer shall terminate if not accepted before (mo./day) _____________________ (yr.)
___________.
17. Holding Over: Any holding over after expiration of the term of this lease, with the consent of the Lessor, shall be construed as a month-to-

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