Standard Lease Agreement Page 2
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13__________________________________________________________________________________
____
A. Security Deposit.
The Lessee shall deposit with the Lessor, as a security
deposit the sum of $__________ payable on or before move-in. Lessee shall not use
the security deposit to pay the last month’s rent.
B. Monthly Rent will increase by _____% of the monthly rental payment each year
starting the first full month following the anniversary date of this agreement. Said
increases to continue on the stated anniversary date for as long as the Lessee
remains the Lessee.
LESSOR’S INITIALS ______ / ______
LESSEE’S INITIALS ______ / ______
C. Lessee understands and agrees that this Agreement is made with the
understanding that the Lessee intends to occupy the Premises solely as the
Primary Residence for Lessee and their immediate family for the entire length of
the Agreement. Lessee may not rent the premises to any third party. Lessee
further agrees that they will not use the property for any business purpose
whatsoever.
Any activity on the premises that violates local, state or federal laws will be
considered a breach of this agreement and a 48-hour notice to vacate will be given
to the tenant(s).
D. Lessor and Lessee agree that irregardless of origination date of this agreement
said anniversary date shall be the _________ day of ________________, 20_____.
E. Lessee shall be responsible for and pay for all utility charges during the term of
this lease including, but not limited to, gas, electric, sewer and water, storm water
fees, cable, telephone, and similar utility expenses.
F. Inoperable vehicles are not allowed on the street or on the driveway or front
yard. Vehicle repairs are only allowed in case of emergency and repairs must be
completed within 24 hours.
G. There is no grace period regarding Lessee's monthly payments. For any
payment not received by 5:00 p.m. on the due date, Lessee agrees to pay a late
payment charge of ten percent (10%) of the delinquent installment. The late
payment penalty is due and payable with the delinquent installment. All moneys
received shall first be applied to oldest balance due. Note: Received refers to actual
date of receipt, not date postmarked (we are not responsible for post office delivery).
Acceptance of payment after the first of the month without the appropriate late
charge does not invalidate the collection of the late charge.
H. Lessee agrees to pay a service charge of $25.00 for any check dishonored by the
bank (for any reason). In addition, the Lessee agrees to make payments for the
following six (6) months with Certified Funds only. Lessee further agrees that
PT, Inc. 2003
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