Lease Purchase Agreement (Page 2 of 4) in pdf

8. UTILITIES: Prior to term commencement, Landlord/Seller is responsible for keeping turned on and shall pay for all utilities including but

not limited to: electricity, garbage and refuse collection, water, sewer, pest control and gas. Upon taking possession of the property, those

responsibilities shall change to Tenant. The Tenant/Buyer will transfer said utilities out of Landlord/Sellers name after commencement date of

this lease. If Tenant/Buyer does not exercise his option to purchase the property, upon termination of this Agreement, the Tenant/Buyer shall

send Notice providing copies of all final utility bills as proof of payment in full of all said utility bills. Tenant/Buyer specifically authorizes the

Landlord/Seller to charge him for all unpaid amounts as additional rent. Landlord/Seller may, at his option, issue a Turn-Off notice to the utility

companies three (3) days after the term of this lease begins.

9. MAINTENANCE: Tenant/Buyer agrees to keep said premises in good condition and repair. If Tenant/Buyer does not exercise his option

to purchase, then at the expiration of this lease Tenant/Buyer agrees to surrender and deliver up the property in as good order and

condition as when entered upon, loss by fire, inevitable accident, act of God or ordinary wear and tear expected. The Tenant/Buyer shall

be responsible for all maintenance and repairs as needed or requested by the Tenant/Buyer that do not cumulatively exceed $200.00 per

month. Any amount of repairs over $200.00 per month shall be paid by Landlord/Seller. If the Landlord/Seller cannot or will not make the

repairs as specified in this Agreement within 10 days of Notice then the Tenant/Buyer will have the option of either voiding this Agreement

by written Notice to the Landlord/Seller or making such repairs and receiving a credit toward any future payments due Landlord/Seller.

10. INSURANCE: The Landlord/Seller shall procure or cause to be procured fire and extended coverage insurance on the residence but

for structures only (excluding Tenant/Buyers furniture and personal property) in an amount equal to the current replacement cost thereof

and naming the Tenant/Buyer as an additional insured. Personal property insurance is the sole responsibility of Tenant/Buyer. Each

party shall insure against liability to others to the extent each deems desirable. In the event the property is destroyed in whole or in part,

where occupancy is not safe or possible, the Landlord/Seller shall repair the property as fast as possible and provide an equitable prorated

portion of the rent to the Tenant/Buyer to find and pay for suitable housing until repairs are made. All insurance paid to Landlord/Seller for

covered damages shall be used to repair the covered damages. The Landlord/Seller shall not be responsible for personal injury or damage

or loss of Tenant/Buyers’ personal property from theft, vandalism, fire, act of God, or other cause unless the same is due to negligence or

intentional misconduct on the part of the Landlord/Seller. Landlord/Seller shall have no duty to furnish alarms of any kind, security guards,

or additional locks and latches.

11. DESTRUCTION OF PREMISES: At Tenant/Buyers option, this lease will terminate if the premises becomes uninhabitable because of

dilapidation, condemnation, fire, or other casualty for a period in excess of one month. Rent shall abate for any period that the premise is

uninhabitable.

12. TENANT/BUYER’S CONDUCT AND UPKEEP OF PREMISES: The Tenant/Buyer shall keep the premises and adjacent areas free of

filth, refuse, and obstructions and will use the premises in compliance with all laws and ordinances applicable thereto. If Tenant/Buyer does

not execute his option to purchase, then upon vacating premise, the Tenant/Buyer shall clean the floors, stove, and all other permanent

appliances and remove all refuse and leave the premise in broom clean condition. The Tenant/Buyer agrees to reasonably maintain walls,

woodwork, floors, furnishings, fixtures, and appliances, windows, screens, doors, fences, plumbing, and heating, electrical and mechanical

systems in good condition.

13. QUALIFIED RESIDENT: Because having a resident in the property who is highly qualified is of utmost importance to all parties, this

Agreement is subject to Tenant/Buyer approving a qualified resident to occupy the property.

14. INSPECTION: This Agreement is subject to a final inspection and approval of the property in writing by the Tenant/Buyer prior to term

commencement and taking possession.

15. ASSIGNMENT: The original Tenant/Buyer shall be permitted the right of subletting or assignment without the Landlord/Seller’s written

permission. Any successive Tenant/Buyer wishing to assign this Agreement must have written permission of the Landlord/Seller/Owner. If

this Agreement is assigned with Landlord/Seller/Owners written approval, the original Tenant/Buyer shall be released from any further

liability hereunder and the Assignee(s) will accept all responsibilities, privileges, covenants, conditions and obligations as set forth in this

entire Agreement.

17. ALTERATIONS AND FIXTURES: Tenant/Buyer has no authority to or incur any debt or make any charge against the Landlord/Seller or

create any lien upon the leased property for any work done or materials furnished without the express and prior written permission of the

Landlord/Seller. Any fixtures installed by Tenant/Buyer after occupancy shall be at his/her own expense; shall be installed in such a manner

that they will not damage the premise.

18. ACCESS BY TENANT/BUYER: Tenant/Buyer shall have immediate access with a key to show the property to contractors,

prospective residents, and other interested parties. In the event property is not vacant/or otherwise not available for occupancy on the

lease start date outlined in paragraph 2 herein (“Term”), then at Tenant/Buyer’s option all dates in this Agreement may be moved into the

future one month (delay period) for each and every month the property is not vacated by current occupant. After 99 delay periods this

Agreement shall expire. In such case that the property is not vacated, or Tenant/Buyer is otherwise not allowed access and/or occupancy,

________

Landlord/Seller(s)

Tenant/Buyer

Lease Purchase Agreement Page 2

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