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RESIDENTIAL CONDOMINIUM LEASE AGREEMENT
THIS CONDOMINIUM LEASE AGREEMENT (hereinafter "Agreement") is entered into, this September 30, 2005 by and between:
The Lessor:
John Doe of 211 Market Street
Phoenix, Arizona
43000
(Hereinafter "Landlord")
and the Lessees:
John Smith of
332a 72 Av.
Anchorage, Alaska
21000
Jane Brown of
Washington Av.
Los Angeles, California
80000
(Hereinafter "Tenants")
In regards to the Property:
1000 Main Street
Phoenix, Arizona
90000
(Hereinafter "Condominium")
The Landlord and Tenants do hereby agree to abide by the terms set out in this Agreement. The terms of this Agreement are as follows:- THE CONDOMINIUM
In consideration of the rent payment to be paid by Tenants and of the other covenants and agreements herein contained, the Landlord rents to Tenants the Condominium.
Tenants shall use the Condominium only for residential purposes. Tenants shall not use or allow the use of the Condominium in any way that interferes with other tenants' use and enjoyment of the Condominium or neighboring property. Tenants shall not use the Condominium for any illegal or improper use. Additionally, the Tenants shall comply with all Zoning Ordinances, Protective Covenants and Deed Restrictions.
The Tenants agree that the Condominium shall be a smoking environment. The Tenants agree shall be liable for any damage caused as a result of smoking.
The Tenants agree that no more than 2 residents are allowed to occupy the Condominium.
The Tenants agree that no pets of any kind shall be allowed in the Condominium. Failure to abide by this paragraph will result in immediate eviction without prior notice and forfeiture of all prepaid rent and deposits.
The Condominium includes 2 bedrooms; 1 bathroom.
Parking is available with the Condominium. It is described as: paid underground garage
- PAYMENT SCHEDULE AND DETAILS
The Tenants agree to pay a Bi-Weekly rate of Four Hundred dollars ($400 USD).
Payment shall be made in the form of Check, on or before: first Monday each Monday during the entire length of this Agreement. Payments shall be made at: 211 Market Street, Phoenix Arizona, 43000, or at such other place as the Landlord and Tenants agree upon.
Should a Tenant's payment be returned for insufficient funds, the Tenants shall be liable to the Landlord for $65 as a penalty.
Should a Tenant's payment be 3 days late, the Tenants shall be liable to the Landlord for $10% a day as a penalty.
The Tenants agree to deliver a Security Deposit to the Landlord in the amount of $250 (Hereinafter "Deposit"). The Deposit will be returned to the Tenants at the end of this Agreement, less deductions.
The Tenant is not entitled to interest on the Deposit.
The parties acknowledge that the Landlord will be permitted to deduct from the Deposit any amounts for reasonable cleaning and repair of damages to the Condominium at the end of this Agreement. Ordinary wear and tear is excepted.
The Deposit may not be used by either party for any payment due under this Agreement.
If the Landlord sells or assigns the Condominium, the Landlord shall have the right to transfer the Tenants Deposit to the new owner or assignee to hold under this Lease and upon doing so the Landlord shall be released from all liability to Tenants for return of said Deposit.
- LENGTH OF AGREEMENT
This Agreement shall begin October 1, 2005 and will remain in effect until February 1, 2007 unless renewed or extended pursuant to the terms herein and shall be based on a Monthly term.
- TERMINATION
After expiration of the leasing period, this agreement is automatically renewed from month to month, but may be terminated by either party giving to the other a 30-day written notice of intention to terminate. Where laws require "just cause", such just cause shall be so stated on said notice. The premises shall be considered vacated only after all areas including storage areas are clear of all Tenants belongings, and keys and other property furnished for Tenants use are returned to Landlord. Should the Tenants hold over beyond the termination date or fail to vacate all possessions on or before the termination date, Tenants shall be liable for additional rent and damages which may include damages due to Landlord loss of prospective new renters.
- DEFAULT
If Tenants fails to fulfill or perform any obligation under this Agreement, Tenants shall be in default of this Lease. Tenants shall receive 4 days' notice by Landlord to cure the default (ie. Non-payment of rent). In the event Tenants does not cure a default, Landlord may at Landlord option cure such default and the cost will be added to Tenants financial obligations under this lease, or declare Tenants in default of the Agreement. Landlord may re-enter the premises and re-take possession of the Condominium in the event of default. After default, Tenants may be held liable for the balance of the unpaid rent under this Agreement if Landlord cannot re-let the Condominium during the remaining term of this Agreement.
- TENANT RESPONSIBILITIES
The Tenants agree to accept responsibility for the following:
- Maintaining the lawn, including mowing, watering, weeding and other reasonable maintenance as needed.
- Removal of snow in a timely fashion.
- Clean all broken glass
The Tenants shall comply with all obligations imposed upon tenants by applicable provisions of building, housing, and health codes; maintain the Condominium in good condition during the entire length of this Agreement and shall neither cause nor allow any abuse of the facilities therein.
The Tenants shall inform the Landlord of any condition that may cause damage to the Condominium. If the Condominium, or any part of the Condominium, is partially damaged by fire or other casualty not due to the negligence or willful act of the Tenants or an agent of the Tenants, the Condominium will be immediately repaired by the Landlord and there will be an abatement of rent corresponding with the time during which the Condominium was untreatable.
Upon the termination or expiration of this Agreement the Tenants shall redeliver the property, amenities, furniture, appliances and any other applicable aspects of the Condominium, in as good condition as at the commencement of the Agreement or as may be put in during the Agreement. Reasonable wear and tear from use and obsolescence to the Condominium shall be accepted. Furthermore, the Landlord retains a Landlords Lien on all personal property placed upon the premises to secure the payment of rent and any damages to the Condominium.
- UTILITIES
The rental payments include the following utilities:- Heat
- Water
- High Speed Internet
- AMENITIES
The Condominium includes use of the following amenities:- Central Vacuum System
- Swimming Pool
- Rent to Own
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