Pro-Landlord Monster Lease
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THIS LEASE (hereinafter called “Lease”), made this [DAY] day of [MONTH], [YEAR] by and between [NAME OF YOU OR YOUR COMPANY] (hereinafter called “Management”), and [NAME OF YOUR TENANT] (hereinafter called “Resident”);
W I T N E S S E T H:
WHEREAS, Management is vested with full authority to lease and sublease the land and improvements commonly known and numbered as [STREET ADDRESS OF PROPERTY] and more particularly described in a legal description attached hereto and incorporated by reference (hereinafter called “Property”); and
WHEREAS, Management desires to lease the Property and improvements to Resident, and Resident desires to lease the Property from Management for the term of this Lease and upon the covenants, conditions and provisions herein set forth; and
THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are undisputed, it is agreed:
A G R E E M E N T:
1. DEFINITIONS
The following terms as defined below are used generally in this Lease. Additional terms, as employed in the specific Sections hereunder, are defined pursuant to those Sections.
Additional Rental is defined in Section 6 of this Lease.
Base Rental means the monthly rental calculated and payable pursuant to Section 4 of this Lease.
Management is defined in the first paragraph of this Lease.
Owner is the owner of the Property.
Property 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
4.1 Resident agrees to pay Management promptly, no later than [TIME THAT RENT IS DUE] on the [DAY OF MONTH THAT RENT IS DUE] day of each month (said day and time hereinafter called “Payment Deadline”) in advance without notice or demand, during the Lease Term, rent at a rate of $[AMOUNT OF MONTHLY RENT TO BE PAID] (hereinafter called “Base Rental”) as modified or increased pursuant to Section 5, infra. The aforesaid payments of rent are to be made payable to Management at its principal mailing address or at such other place as Management may from time to time designate in writing to Resident.
4.2 The parties stipulate that postal or other delivery delays do not constitute waiver or extension of the due date for any payment due herein. Management must have received payment by the Payment Deadline to be considered timely paid. All payments received after the Payment Deadline shall be subject to Additional Rental as specified in Section 4.3, infra.
4.3 In the event any payment of Base Rental or Additional Rental (hereinafter called “Rent”) is not paid when due, Additional Rental shall be due in addition to the rent in the amount of $[FEE FOR LATE RENT PAYMENT]. For each day after the Payment Deadline that the Rent is not paid in full, Resident shall pay further Additional Rental equal to [ADDITIONAL DAILY FEE FOR LATE RENTAL PAYMENTS] per day until such time as Management receives sufficient payment to bring Resident’s account current.
4.4 Resident shall receive a discount of [AMOUNT OF DISCOUNT OFFERED TO TENANT FOR EARLY PAYMENT OF RENT] applicable only to the current payment of Rent if Resident maintains the Property per Section 12 and other pertinent Sections of this Lease and if Management receives full payment for all current and past due balances no later than [NUMBER OF DAYS PRIOR TO DUE-DATE PAYMENT MUST BE RECEIVED TO QUALIFY FOR DISCOUNT] days prior to the Payment Deadline as specified in Section 4.1.
4.5 Any payments accepted by Management shall be first applied to past-due sums and only thereafter to currently due sums. Any excess payments received by Management shall at Management’s option be applied to future sums due or Management may opt to refund such excess payments.
4.6 Management may increase the Base Rental with at least [NUMBER OF DAYS NOTICE] days written notice to Resident. Upon receipt of notice of Base Rental increase, Resident shall inform Management of acceptance or rejection of said increase within [NUMBER OF DAYS TENANT HAS TO RESPOND TO RENTAL INCREASE] days of Management’s notice to Resident. Resident’s failure to accept or reject said increase according to the terms of this Section shall constitute acceptance by Resident. Should Resident reject the increase of Base Rental, Management reserves the option to change the Date of Surrender to a date not less than SIXTY (60) days after Management’s receipt of Resident’s rejection.
5. RENTAL ADJUSTMENT
The Base Rental shall increase to $[NEW RENTAL RATE] beginning on [DATE NEW RENTAL RATE TAKES EFFECT].
6. ADDITIONAL RENTAL
In addition to the Base Rental required to be paid pursuant to the terms of this Lease, Resident agrees to pay, as additional rental, all sums and other charges required to be paid by Resident pursuant to other provisions and exhibits to this Lease, whether or not the same be designated “Additional Rental”, and Management shall have the same remedies for Resident’s failure to pay same when and as required, as if it constituted Base Rental.
7. SMOKE DETECTORS
The parties hereto confirm and verify the working order of all smoke detectors on the Property. Resident hereby accepts full responsibility for the weekly testing of the smoke detectors and the replacement of the batteries in said smoke detectors at least once each month. The Resident has agreed to accept these responsibilities in exchange for a reduction in the monthly rental, with said reduction being fully represented in the sum $[AMOUNT OF MONTHLY RENTAL] as indicated in Section 4.1. In the event that any smoke detector fails to perform correctly when tested, Resident shall immediately notify Management in writing and verbally.
8. UTILITIES; ELECTRICAL AND OTHER CHARGES
8.1 Resident shall be solely responsible for all installation charges, service charges and all other charges for gas, electricity, telephone, water and sewer services, cable/satellite TV, telephone and other utilities and services rendered, supplied to, or imposed upon the Property regardless of who is the supplier. Resident shall indemnify Management and save it harmless against any liability or charge on account thereof. If Resident does not pay said charges when due, Management may pay same and such payment shall be added as Additional Rental hereunder. Resident’s failure to pay said charges when due shall constitute breach of this Lease by Resident.
8.2 Resident agrees to immediately establish telephone service at the Property and shall immediately provide to Management the telephone number provided by said service. In the event that said telephone number is changed for any reason, Resident shall immediately inform Management of the new telephone number.
8.3 Resident agrees that it will not install any equipment which will exceed or overload the capacity of any utility facilities, whether or not provided by Resident or Management, and that if any equipment installed by Resident shall require additional utility facilities, the same shall be furnished and installed at Resident’s expense in accordance with plans and specifications to be approved in writing by Management.
9. USE AND CARE OF PROPERTY
The Property shall be used as a single-family personal residence, to be occupied exclusively by [LIST OF ALL PEOPLE AUTHORIZED TO LIVE IN PROPERTY]. The Property shall not be used for any illegal purposes; nor in any manner to create any nuisance or trespass; nor in any manner to vitiate the insurance or increase the rate of insurance on the Property. Resident shall not use, store or dispose of, or permit the use, storage or disposal of, upon the Property, any hazardous materials, toxic contaminants, oil, radioactive or other material the removal of which is required or the maintenance of which is prohibited, regulated or penalized by any local, state or federal agency, authority or governmental unit. If any such materials are brought into the Property, Resident shall, at Resident’s sole expense, cause the immediate removal thereof.
Occupancy of the Property by any person other than those named in this Section for more than [NUMBER OF DAYS – SUGGEST 30] days shall be subject to Additional Rent (payable from the Effective Date) in the amount of [PERCENTAGE] of the then-current Base Rental.
10. ABANDONMENT
Resident agrees not to abandon or vacate the Property during the period of this Lease and agrees to use the Property for the purpose herein leased until the expiration hereof. Resident shall notify Management in advance of any vacancy equal to or in excess of [NUMBER OF DAYS – SUGGEST 30] days. Resident’s vacancy of the Property for more than [NUMBER OF DAYS – SUGGEST 30] days without prior notice to Management shall constitute abandonment of the Property. Resident’s vacancy of the Property for more than 30 days under any circumstances shall constitute abandonment of the Property. Tenant’s abandonment of the Property shall constitute breach of this Lease.
11. MANAGEMENT’S RIGHT OF ACCESS
11.1 Resident waives any and all claims of trespass, unlawful entry or unauthorized entry against Management. Management reserves the right to enter the Property for inspections or other reasonable purposes during reasonable hours, and at any time in case of emergency. Resident understands that Management’s right to enter the Property is not subject to prior notice to Resident or permission from Resident.
11.2 Resident shall not take any action impairing Management’s access to the Property, including but not limited to construction of fences, adding or changing locks, adding or changing security systems/burglar alarms. Should Resident need to take any action that could potentially limit Management’s access to the Property, such action may not be taken without the prior written consent of Management.
12. REPAIRS AND MAINTENANCE
Resident has fully inspected the Property and finds it acceptable and in good repair in its current condition. Resident hereby accepts all costs and expenses during the Lease Term associated with the repair or maintenance of the Property. In the event that the Property requires repairs and/or maintenance, Resident shall immediately notify Management, and Management will timely provide an estimate of the expense of said repair(s) and/or maintenance. Management shall arrange for the necessary repairs and/or maintenance, and Resident shall pay all costs and expenses associated therewith as Additional Rental. If said costs and expenses exceed [THRESHHOLD AMOUNT – SUGGEST $50] then Resident shall pay the estimated costs and expenses to Management in advance.
Resident shall be fully responsible for all pest control. Any infestation shall constitute default of this Lease by Resident.
13. TAXES
13.1 Real Property. Owner shall be responsible for paying all real estate taxes owed on the Property.
13.2 Personal Property. Resident shall be responsible for paying all personal property taxes with respect to Resident’s personal property at the Property. Management shall pay all personal property taxes with respect to Management’s personal property, if any, on the Property.
14. SECURITY DEPOSIT
Resident shall pay to Management a “Security Deposit” in the amount of [AMOUNT OF SECURITY DEPOSIT] which Management shall return to Resident upon termination of this Lease, subject to payment of all rents due, surrender of possession, inspection of the Property, and confirmation by the Management that Resident has performed all other obligations imposed hereunder. (In the event the Base Rental hereunder increases, Management shall upon request be entitled to receive from Resident an additional security deposit equal to the increased rental amount.)
15. INSURANCE
Resident is required to maintain at his own expense an insurance policy sufficient to cover the loss or damage of any or all of Resident’s personal belongings. Resident hereby waives and relinquishes all claims against Management for loss or damage to any of Resident’s personal belongings. Furthermore, Resident shall initiate and keep current a policy for liability insurance coverage in the amount of $300,000 and Management shall be named as an additional insured.
16. DESTRUCTION OF OR DAMAGE TO PROPERTY
If the Property is totally destroyed by storm, fire, lightning, earthquake or other casualty, this Lease shall terminate as of the date of destruction, and Total Rental shall be accounted for between Management and Resident as of that date. If the Property is damaged but not wholly destroyed by any of such casualties, Base Rental shall abate in such proportion as use of the Property has been destroyed, and Management shall restore same to substantially the same condition as before damage as speedily as practicable, whereupon full Base Rental shall commence.
17. GOVERNMENTAL ORDERS
Resident waives the benefits of all existing and future rent control legislation and statutes and similar government rules and regulations, whether in time of war or not, to the full extent permitted by law.
18. RESERVED
19. ASSIGNMENT AND SUBLETTING
Resident may not, without the prior written consent of Management, assign this Lease or any interest hereunder, or sublease Property or any part thereof, or permit the use of Property by any party other than the Resident.
20. RESIDENT IMPROVEMENTS AND REMOVAL OF FIXTURES
20.1 In the event any mechanics’, laborers’, materialmen’s or other liens shall be filed against the Property or any part thereof by reason of work, labor, services or materials performed or furnished to or at the insistence of Resident or to anyone holding the Property through or under Resident, Resident shall forthwith cause the same to be so discharged of record or bonded with security satisfactory to Management. If Resident shall fail to cause such lien forthwith to be so discharged or bonded with security satisfactory to Management after being notified of the filing thereof, then, in addition to any other right or remedy of Management, Management may discharge the same by paying the amount claimed to be due, and the amount so paid by Management shall be due and payable by Resident to Management as Additional Rental on the first day of the next following month, or may, at Management’s election, be subtracted from any sums owing to Resident.
20.2 Resident shall not make any alterations, additions or decorations to the Property without first obtaining the prior written consent of Management. Resident shall at all times during the Lease Term present to Management plans and specifications for such work at the time Management’s consent is sought. As a condition of any such permission granted by Management, all modifications (including but not limited to items affixed to the Property) shall become the property and possession of Owner upon the termination of this Lease.
20.3 Resident’s obligation to observe and perform any of the provisions of Section 20 shall survive the expiration of Lease Term hereof or earlier termination of this Lease.
21. CANCELLATION OF LEASE BY MANAGEMENT
It is mutually agreed that in the event Resident shall default in the payment of Base Rental and/or Additional Rental herein reserved, when due, and fails to cure said default within [SUGGEST: 7] days after written notice thereof from Management; or if Resident shall be in default in performing any of the terms or provisions of this Lease, and fails to cure such default within [SUGGEST: 7] days after the date of receipt of written notice of default from Management; or if Resident is adjudicated bankrupt; or if a permanent receiver is appointed for Resident’s property and such receiver is not removed within sixty (60) days after written notice from Management to Resident to obtain such removal; or if, whether voluntarily or involuntarily, Resident takes advantage of any debtor relief proceedings under any present or future law, whereby the Total Rental or any part thereof is, or is proposed to be, reduced or payment thereof deferred; or if Resident makes an assignment for the benefit of creditors; or if Management receives notice that Resident has failed to comply with any agreement concerning the Property between Resident and Management or between Resident and any party in which Management or Owner has/have any interest; or if Resident’s effects should be levied upon or attached under process against Resident, not satisfied or dissolved within [SUGGEST: 7] days after written notice from Management to Resident to obtain satisfaction thereof; or if Resident undertakes any act which Management in its sole discretion determines impairs the likelihood of Resident complying with the terms hereunder; then, and in any of said events Management at Management’s option may at once, or within three (3) months thereafter, terminate this Lease by written notice to Resident; whereupon this Lease shall end. Any notice provided in this Section may be given by Management or Owner, or its/their attorney(s) or agent(s). Upon such termination of this Lease, Resident will at once surrender possession of the Property to Management and remove all of Resident’s effects therefrom; and Management may forthwith re-enter same and repossess itself thereof, and remove all persons and effects therefrom, using such force as may be necessary without being guilty of trespass, forcible entry or detainer or other tort.
22. CANCELLATION OF LEASE BY RESIDENT
Resident may terminate this Lease prior to the Date of Surrender by complying with each of the following requirements: (1) Resident shall notify Management at least [SUGGEST: 90] days prior to termination (said notice shall be effective as of the final day of the month in which the notice was received by Management); (2) Resident shall pay an Early Termination Fee equal to the then-current Base Rental; (3) Resident shall pay all fees and Rental due through the adjusted Date of Surrender; (4) Resident shall return Property in broom clean condition; and (5) Resident shall pay all expenses for repainting, carpet cleaning, and other aesthetic needs, with Management having full authority to determine such needs.
23. RELETTING BY MANAGEMENT
Management, as Resident’s agent, without terminating this Lease, upon Resident’s failure to cure any default within the time permitted as set forth in Section 21 hereof, may at Management’s option enter upon and rent the Property at the best price obtainable by reasonable effort, without advertisement and by private negotiations and for any term Management deems proper. Resident shall be liable to Management for the deficiency, if any, between Resident’s Total Rental hereunder and the price obtained by Management and all other reasonable costs directly related to reletting, including, but not limited to the payment of commissions, the making of alteration, costs of leasing same, costs for any unamortized Resident improvements and otherwise. Resident expressly waives the right to pay rent in defense to a dispossessory, unlawful detainer or other similar legal action based on nonpayment of rent.
24. APPLIANCES
Any and all appliances on the Property are available as a convenience to the Resident. Management makes no warranties and does not assume responsibility for their operation. No portion of the rent payable hereunder is due to the presence of the appliances, if any. Resident shall return all appliances at the termination of this Lease in the same condition as they were in at the beginning of this Lease.
25. ENTRY FOR CARDING, ETC.
Management may card the Property “For Rent”, “For Sale” or otherwise as determined by Management, [SUGGEST: 60] days before the termination of this Lease, or any time following Management’s receipt of Resident’s intent to vacate the Property. Management may from time to time enter the Property at reasonable hours to exhibit same to prospective purchasers, existing or prospective mortgagees, or prospective Residents and to make repairs required of Management under the terms hereof, or to make repairs to adjoining premises, if any.
26. EFFECT OF TERMINATING LEASE
No termination of this Lease prior to the normal ending thereof, by lapse of time or otherwise, shall affect Management’s right to collect Base Rental, Additional Rental and any other charges due Management by Resident.
Resident’s termination of this Lease shall not affect Resident’s obligation to pay the Total Rental due hereunder, unless said termination is allowed under Section 22.
27. CURRENT AND CONTINUING SUBORDINATION OF LEASE
Resident agrees that at the option of Management, this Lease is and shall continue to remain junior and subordinate to other obligations secured by the Property, regardless of whether said obligation is of record, and regardless of whether said obligation exists as of the Effective Date or is created in the future at any time. Resident waives and relinquishes any and all rights in and to the Property and all claims against Management and/or Owner on the basis of the superiority of this Lease to any other obligation.
The parties stipulate that default, delinquency or breach of any obligation secured by the Property shall not constitute waiver of Resident’s responsibilities to pay the Total Rental. The parties further stipulate that default, delinquency or breach of any obligation secured by the Property shall not entitle Resident to a refund of any Rent already paid.
28. NO ESTATE IN LAND
This Lease shall create the relationship of Landlord and Tenant between the parties hereto; no estate shall pass out of Owner or Management. Resident has only a usufruct, not subject to levy and sale, and not assignable by Resident except by Management’s prior written consent.
29. ATTORNEY’S FEES
29.1 If any Rent owing under this Lease is collected by or through an attorney at law, or if Management employs an attorney at law to enforce any of the other terms or conditions of this Lease, Resident agrees to pay or reimburse Management for all costs and expenses actually incurred by Management, including reasonable attorneys’ fees, as Additional Rental hereunder. Resident, for himself and his family, waives all homestead rights and exemptions which he may have under any law as against any obligation owing under this Lease. Resident hereby assigns to Management Resident’s homestead rights and exemptions, if any.
29.2 Resident hereby waives any objection to jurisdiction or venue being exercised by, or present in the courts of [NAMES OF LOCAL/STATE COURTS], or the federal district court of the [NAME OF FEDERAL COURT DISTRICT]. Notwithstanding anything in section 31, infra, in the event Resident fails to maintain residence or occupancy at the Property, Resident agrees that all papers, summons, complaints, and notices may be served on the [GOVERNMENTAL BODY SUCH AS SECRETARY OF STATE], as Resident’s duly appointed agent for service of process.
29.3 Resident agrees that Management shall have the exclusive right, but not the obligation, to require that disputes hereunder be submitted to binding arbitration. All fees associated with submission of a dispute to binding arbitration shall initially be borne by the filing party, and shall ultimately be paid as determined by the findings of the arbitrator.
29.4 If a court of competent jurisdiction finds that Management has breached this lease, and that such breach has damaged Resident, Resident shall be entitled to recovery of reasonable attorney’s fees from Management.
30. RIGHTS CUMULATIVE
All rights, powers and privileges conferred hereunder upon parties hereto shall be cumulative but not restrictive to those given by law.
31. NOTICES AND SERVICE OF NOTICE
All notices required by law or by this Lease shall be given by depositing same in registered or certified U.S. Mail, postage prepaid, and addressed as follows:
For Management: [YOUR ADDRESS]
(hereinafter called “Managements’s Address”)with a copy to: [YOUR ATTORNEY’S NAME & ADDRESS]
or to such other address as Management may from time to time designate in writing to Resident.
For Resident: [STREET ADDRESS OF PROPERTY]
(hereinafter called “Resident’s Address”)Resident hereby appoints as Resident’s agent to receive service of all proceedings and notices hereunder, and all notices required under this Lease, the person in charge of Property at the time, or occupying same; and if no person is in charge of, or occupying the Property, then such service of notice may be made by attaching the same on the main entrance to the Property and mailed to the Property. A copy of all notices under this Lease shall also be sent to such other address as Resident may from time to time designate in writing to Management. Resident expressly waives any right to personal service or the right to challenge the existence of jurisdiction or validity of any money judgment entered upon default which has followed service pursuant to this Section.
32. HOLDING OVER
Resident shall promptly vacate the Property and remove all of Resident’s goods and property therefrom after termination of this Lease, whether such termination occurs by lapse of time or otherwise. Any holding over or occupancy of the Property by Resident after the expiration of this Lease without the express written consent of the Management shall create a tenancy of sufferance and not a tenancy at will. There shall be no renewal of this Lease by operation of law.
If Resident remains in possession of the Property after expiration of this Lease with Management’s express written consent but without a written agreement governing the terms of the occupancy, Resident shall be a Resident at will at a rental rate equal to 150% of the rental rate in effect at the end of the Lease Term.
33. QUIET ENJOYMENT
Management hereby covenants and agrees to permit Resident quiet enjoyment of possession of the Property during the Lease Term, so long as Resident shall pay the Total Rental aforesaid and carry out all other obligations herein made binding upon the Resident.
34. SUCCESSORS AND ASSIGNS, GOVERNING LAW AND BINDING EFFECT
34.1 “Management” as used in this Lease shall include [NAME OF YOU OR YOUR COMPANY, its representatives, assigns and successors. “Resident” shall include [ALL ADULTS SIGNING THIS LEASE], its representatives and successors, and if this Lease be validly assigned or sublet, shall also include Resident’s assignees or sublessees, as to premises covered by such assignment or sublease. “Management”, “Resident” and “Non-Resident Guarantor” include male and female and neuter, singular and plural, corporation, partnership or individual, as may fit the particular parties.
34.2 The laws of the state of [NAME OF STATE] shall govern the validity, interpretation, performance and enforcement of this Lease.
34.3 Except as otherwise provided herein, this Lease shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. The parties expressly stipulate that there are no third party beneficiaries to this Lease. The parties further stipulate that the “Non-Resident Guarantor” (per Section 39, infra) is not a beneficiary to this Lease.
35. TIME IS OF THE ESSENCE
In all instances where Resident is required by the terms and provisions of this Lease to pay any sum or to do any act at a particular indicated time or within any particular period, it is understood and agreed that time is of the essence.
36. TRANSFER OF MANAGEMENT’S INTEREST
In the event of the sale, assignment or transfer by Management of its interest in the Property or in this Lease (other than a collateral assignment to secure a debt of Management) to a successor in the interest who expressly assumes the obligations of Management hereunder, Management shall thereupon be released or discharged from all of its covenants and obligations hereunder; and Resident agrees to look solely to such successor in interest of Management for performance of such obligations. Any deposits or other security given by Resident to Management to secure performance of Resident’s obligations hereunder may be assigned by Management to such successor in interest of Management; and, upon acknowledgment by such successor of receipt of such security and its express assumption of the obligation to this Lease, Management’s assignment of the Lease or of any or all of its rights herein shall in no manner affect Resident s obligations hereunder. Resident shall thereafter attorn and look to such assignee as Management, provided Resident has first received written notice of such assignment of Management’s interest.
37. ESTOPPEL CERTIFICATE
Within THIRTY (30) days after request therefor by Management or any holder of any security instrument covering the Property, or upon any sale, assignment or other transfer of the Property by Management, Resident shall deliver in recordable form an estoppel certificate in form and substance satisfactory to Management, to any proposed security instrument holder or other transferee, or to Management, certifying those facts contained therein that are then true with respect to this Lease and specifying with particularly any such facts which are not then true with respect to this Lease.
38. PETS
Resident agrees to be liable for any and all damage to the Property or to any person caused by any pets or other animals on the Property.
Pets are strictly prohibited in the Property unless Resident is given prior written consent from Management. For each pet, Resident will be subject to a non-refundable pet deposit equal to [PERCENTAGE – SUGGEST 25-50%] of the then-current Base Rental, and monthly Additional Rental in the amount of [PERCENTAGE] of the then-current Base Rental.
If unauthorized pets are found on the Property, Resident must remove said animal and must immediately pay Additional Rent in the amount of the then-current Base Rental plus the costs of carpet cleaning, painting, repairs and any other work made necessary by way of the presence of the pet.
39. ADDITIONAL GUARANTY
Resident acknowledges that its credit history is insufficient to enable Management to properly assess risks associated with nonpayment or other forms of nonperformance hereunder. In order to induce Management to enter into this Lease with Resident, [NAME(S) OF COSIGNOR(S)] (hereinafter “Non-Resident Guarantor”) hereby agrees that he/she/they will be jointly and severally liable, in his/her/their personal capacity, for any breach, default, nonperformance, loss or damages associated with this Lease which is attributable to Resident. In the event of such breach, default, nonperformance, loss, or damages, Non-Resident Guarantor(s) acknowledge(s) that Management may bring suit against him/her/them individually regardless of whether it has brought suit or intends to bring suit against Resident. Non-Resident Guarantor(s) understand(s) that he/she/they is/are afforded no rights to the Property under this Lease and that the provisions of this Section exist solely to secure the risk to Management that exists due to Management’s acceptance of Resident as party to this Lease.
40. MISCELLANEOUS
40.1 This Lease contains the entire agreement of the parties hereto and no representations, inducements, promises or agreements, oral or otherwise, between the parties, not embodied herein unless contained in a modification in writing executed by all of the parties hereto, shall be of any force or effect.
40.2 This Lease may be executed in counterparts, and each counterpart, and all counterparts together, shall constitute the original Lease.
40.3 No waiver of any default shall be implied from Management’s omission to take any action on account of such default if such default persists or is repeated, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Management shall not be construed as a waiver of subsequent breach of the same covenant, term or condition.
40.4 Management and Resident stipulate that Resident shall at no time record or cause to be recorded this Lease or any document referring to this Lease or to Resident’s rights under this Lease. Resident’s recording of this Lease or any document referring to this Lease (whether said reference is direct or by implication) shall constitute breach of this Lease by Resident with damages to Management equal to the Total Rental.
40.5 The invalidity or unenforceability of any provision of this Lease shall not affect the validity or enforceability of any other provision of this Lease, which shall remain in full force and effect.
40.6 Each person executing or attesting this Lease warrants and represents that he or she is fully authorized to do so. Each person also stipulates that he or she has been afforded an adequate opportunity to read this Lease and to consult with an attorney prior to executing the same, and that all signatures are given knowingly, voluntarily, and with full awareness of the terms contained herein. The parties also agree that this Lease has been prepared after negotiations and, as a result, neither party may be considered the sole author thereof, and it should not be construed in favor or against either party by a court of competent jurisdiction.
40.7 All references to monetary sums are expressed in U.S. Dollars.
40.8 Resident agrees not to place or use on the Property, or allow to be placed or used on the Property, water beds, kerosene/space heaters, or any other item that represents obvious risk of fire or other hazard.
40.9 Resident is entitled to a maximum of [MAXIMUM NUMBER OF VEHICLES ON PROPERTY] vehicles to be parked on or around the Property. Non-operating vehicles may not be placed on or around the Property. Management shall have the right to remove unauthorized vehicles at Resident’s expense for disposal at Management’s discretion and Resident hereby waives and relinquishes any and all claims against Management for said removal and disposal.
40.10 Resident shall not deposit any non-liquid substance in any sink. Resident shall not deposit anything other than human waste and toilet tissue in any commode. If the Property has a septic tank, Resident must regularly use septic tank treatment chemicals.
40.11 Resident acknowledges receipt of the EPA booklet “Protect Your Family From Lead In The Home”. Management discloses to Resident that the improvements on Property were constructed in approximately the year [YEAR HOME WAS BUILT].
40.12 A complete list of current damage to the Property is attached as Exhibit “B”. The parties stipulate that Exhibit “B” contains an exhaustive listing of all damage to the Property as of the Date of Possession.
40.SUBJECT TO MANAGEMENT’S APPROVAL
This LEASE is subject to Management’s approval of the Resident within ten (10) business days. Management’s failure or refusal to approve Resident shall not constitute breach of this Lease by Management. If Management refuses to approve Resident, Management shall return all monies paid hereunder by Resident to Management within ten (10) business days. Resident is aware that Management’s approval of Resident is based in part on Resident’s credit worthiness, and Management’s approval of Resident is not on a first-come basis.
IN WITNESS WHEREOF, the parties herein have hereunto set their hands and seals the day and year first above written, and they acknowledge receipt of a fully executed complete original copy of this LEASE and all exhibits referenced herein.
(signatures on next page)
Signed, sealed and delivered
in the presence of TENANT:______________________ ______ __________________ (L.S.)
Witness TENANTSSN: ________________________________________________
Notary Public
Date:
(seal)
Signed, sealed and delivered
in the presence of TENANT:______________________ ______ __________________ (L.S.)
Witness TENANTSSN: ________________________________________________
Notary Public
Date:
(seal)
Signed, sealed and delivered
in the presence of LANDLORD:______________________ ______ __________________ (L.S.)
Witness LANDLORDNotary Public
Date:
(seal)
EXHIBIT “A”
LEGAL DESCRIPTION OF PROPERTY