Agreement to Lease Condominium Unit

Agreement to Lease Condominium Unit in a Mixed Use Development Building with an Option to Purchase Unit

This Lease is made as of the (date) by and between and .

1. For and in consideration of the payment by Lessee of the sum of Dollars ($ ), and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and in further consideration of the terms and conditions of this Lease, Lessor agrees to lease, and does hereby lease, to Lessee the following described property:

A. The condominium unit designated as Apartment (number) in the building commonly known as (number) at , which unit is so designated in a certain (title of condominium declaration) which establishes a plan for condominium ownership of the building and the land on which it stands (said building and land being hereafter jointly and severally referred to as Property, which Declaration is dated (date), and was recorded in the (specify recording office of county) , in Book (number), Page (number), on (date). The building in which said unit is located is a mixed use development building as described in said plan for condominium ownership.

B. The land upon which the building stands is bounded and described as follows:

C. An undivided % interest, in common with the other unit owners, in the common elements of the Property, as the same are described in the Declaration, together with the following:

i. An easement, as long as the building shall stand, for the maintenance of any and all encroachments by or upon the unit, upon or by any other unit or units or common elements, now existing as a result of construction of the building, or which may later come into existence as a result of settling of the building or in any other way save deliberate act of the owner or owners of the encroaching unit or units;

ii. An easement in common with the other unit owners, to use all pipes, ducts, conduits, wires, cables, utility lines and the like, and other common elements, located in any of the other units or elsewhere on the property, which serve the unit here contracted to be sold;

iii. An exclusive easement for the use of the terrace to which the unit here contracted to be sold has exclusive access; and

Subject to the provisions of the Bylaws, a true copy of which is annexed to the Declaration, as the same may be amended from time to time as provided in which shall constitute covenants running with the land and shall bind every person or persons for the time being having any interest or estate in the unit. All real property described in this Paragraph 1 is hereafter referred to as Premises.

2. Personal Property

The Lease also includes and covers all fixtures and articles of personal property attached to or used in connection with the Premises, unless specifically excluded below. Lessor states that said fixtures and personal property are paid for and owned by Lessor free and clear of any lien and include, but are not limited to, plumbing, heating, lighting and cooking fixtures, bathroom and kitchen cabinets, mantels, door mirrors, venetian blinds, shades, screens, awnings, storm windows, window boxes, mail boxes, dishwashers, washing machines, clothes dryers, garbage disposal units, ranges, refrigerators, freezers, air conditioning equipment and installations, and wall to wall carpeting. Excluded from this sale are: furniture and household furnishings and .

3. The term of this Lease is from the (date) to (date) for the total rent of Dollars. ($ ).

4. The rent shall be paid to Lessor monthly in the amount of $ per month, payable on the first day of each month. Lessee also agrees to pay any and all condominium common area and facilities maintenance payments for the term of this Lease. Such payments are presently $ per month and are payable to .

Lessee further agrees to pay for any additional increases in the common area and facilities maintenance costs that may occur during the term of this lease.

5. The parties agree that the unit has been rented in good order and repair. Lessee acknowledges that he or she has inspected the unit, and the unit is in good order except as otherwise noted in writing to Lessor, which writing is attached hereto as Exhibit A.

6. Lessee agrees not to use or permit the Premises to be used for any illegal, immoral, or improper purposes; not to make or permit any disturbance, noise or annoyance detrimental to the Premises or to the comfort and peace of any of its inhabitants or neighbors; and not to use the Premises for any purpose other than as a private dwelling for Lessee and the members of . Lessor reserves the right to terminate this Lease at any time this condition is violated.

7. Lessee agrees not to assign this Lease nor to sublet any part of the Premises except with the written consent of Lessor.

8. Lessee agrees to pay the cost of repairing all damage to the Premises caused by Lessee or members of Lessee’s family or guests, and agrees to leave the Premises in an orderly, clean and sanitary condition identical to that in which the Premises are rented (with the exception of ordinary wear).

9. Lessee agrees that if default is made in the payment of rent, or if any of the terms of this Lease are violated, Lessee waives all right of notice to vacate, and Lessor will be entitled to re-enter and retake possession immediately, and the entire rent for the next rental period will be immediately due and payable.

10. Lessor reserves the right to terminate this Lease at any time if default is made in the payment of rent, or if any of the terms of this Lease are violated.

11. Lessor agrees that Lessee is entitled to the quiet and peaceful enjoyment of the Premises. However, Lessor reserves the right to inspect the Premises as necessary, and to show the Premises to prospective tenants during the thirty (30) days prior to the expiration of this Lease.

12. If this Lease is executed by more than one individual as Lessee, all obligations incurred by the Lessee are joint and several.

13. Lessee shall have the option to purchase the Premises from Lessor for $ on expiration of the term on (date). Lessee shall provide Lessor, at the address of Lessor stated above months' notice of the exercise of this option to purchase. Lessor shall transfer title to the premises to Lessee by (e.g., warranty) deed within days after receipt of the notice of intent to exercise the option to purchase from Lessee, but in no event later than the date of expiration of this Lease Agreement.

WITNESS our signatures as of the day and date first above stated.