Sample Residential Lease Agreement Template Page 2
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18Property means that tract or parcel of land and any improvements thereon as
described in the attached Exhibit “A” which is by this reference incorporated in this
Lease.
Resident is defined in the first paragraph of this Lease.
Total Rental means the Monthly Installments and Additional Rental as may
be due and owing annually to Management under this Lease.
2. PROPERTY
The Management, for and in consideration of the rentals, covenants,
agreements and stipulations hereinafter mentioned, reserved and contained, to be
paid, kept and performed by the Resident, has leased and rented, and by these
present does lease and rent, unto the Resident, and the Resident hereby agrees to
lease and take upon the terms and conditions which hereinafter appear, the
Property (exclusive of any easement for light or air or other valid easements,
whether or not of record) described in Exhibit “A”, a copy of which is attached hereto
and incorporated by reference (hereinafter called the “Property”).
3. LEASE TERM
To have and to hold the same for a period commencing at [DATE AND
TIME WHEN TENANT CAN OCCUPY PROPERTY] (hereinafter called “Date of
Possession”) and ending at [DATE AND TIME WHEN TENANT MUST VACATE
PROPERTY] (hereinafter called “Date of Surrender”) unless sooner terminated or
extended as hereinafter provided (hereinafter called “Lease Term”).
Resident agrees to return the Property to Management at the expiration, or
prior termination, of this Lease in as good condition and repair as when first
received, normal wear and tear, damage by storm, fire, lighting, earthquake or other
casualty alone excepted.
Management may, for any reason, adjust the Date of Possession and Date
of Surrender by an identical amount of up to seven (7) days without liability to
Resident for said adjustment. Resident’s liability for rent shall begin only upon
receipt of possession of the Property. If Management fails to deliver possession of
the Property within seven (7) days of the above-specified Date of Possession,
Resident may terminate this Lease.
Resident may not refuse to take possession of the Property unless the
Property is unsafe or uninhabitable.
4. BASE RENTAL
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