Residential Lease Agreement With Option To Purchase Page 6
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11and owing at
Xxxxxxxxxx dollars ($Xxxxx)
per month. Where said term is a month-to-month
tenancy, either party may terminate this tenancy by the serving of a 30-day written notice.
X.
CONDITION OF PREMISES ON LEASE TERMINATION.
Upon the
expiration of the term hereof, Tenant does hereby agree that at the termination of this Lease, by
lapse of time or otherwise, Tenant shall surrender the Premises to Landlord in as good a state and
condition as they were when received, loss by fire or other casualty covered by insurance as
herein provided and ordinary wear excepted.
X. DEFAULT AND REMEDIES IN DEFAULT.
(A)
The occurrence of any one or more of the following events shall constitute a
default or breach of this Lease by Tenant.
(1)
The vacating or abandonment of the Premises by Tenant, except upon
termination of this Lease as provided herein.
(1)
The failure by Tenant to make any payment of rent within ten (10 days of
it being due.
(2)
The failure by Tenant to observe or perform any of the covenants,
conditions, or provisions of this Lease to be observed or performed by the
Tenant, where such failure shall continue for a period of ten (10) days
after written notice thereof by Landlord to Tenant; provided, however, that
if the nature of Tenant’s default is such that more than ten (10) days are
reasonably required for its cure, then Tenant shall not be deemed to be in
default if Tenant commences such cure within said ten (10) day period and
thereafter diligently prosecutes such cure to completion.
(A)
In the event of any default or breach by Tenant, Landlord may at any time
thereafter, with or without notice or demand and without limiting Landlord in the
exercise of a right or remedy which Landlord may have by reason of such default
or breach:
(1)
Terminate Tenant’s right to possession of the Premises by any lawful
means; in which case this Lease shall terminate and Tenant shall
immediately surrender possession of the Premises to Landlord. Landlord,
in addition to such other rights or remedies possessed under law and
without notice or legal process, may re-enter and take possession of said
demised Premises and every part thereof. In the event of the remedy of
repossession, Landlord shall be entitled to recover from all damages
incurred by Landlord by reason of Tenant’s default.
(2)
Maintain Tenant’s right to possession, in which case this Lease shall
continue in effect whether or not Tenant shall have abandoned the
Premises. In such event Landlord shall be entitled to enforce all of
Landlord’s rights and remedies under this Lease, including the right to
recover the rent as it becomes due hereunder.
Residential Lease Agreement with Option to Purchase
Page - 6
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