Fill and Sign the For the Valuable Consideration Described below the Sufficiency of Which is Hereby Acknowledged Landlord and Form

RESIDENTIAL LEASE EXTENSION This Residential Lease Extension (hereinafter “Lease Extension”) is entered into this ___ day of _______________, 20___, by and between the Lessor: ______________________________, (hereinafter “Landlord”), and the Lessee(s): __________________________, __________________________, __________________________, and ___________________________. All Lessees, (hereinafter referred to collectively as “Tenant”), are jointly, severally, and individually bound by, and liable under the terms and conditions of this Residential Lease Extension. For the valuable consideration described below, the sufficiency of which is hereby acknowledged, Landlord and Tenant do hereby covenant, contract and agree as follows: 1. PREVIOUS and/or EXISTING LEASE: Landlord and Tenant entered into a Landlord-Tenant relationship by virtue of a previously executed Lease Agreement, dated _______________, 20___, (hereinafter “Lease Agreement”), and incorporated herein by reference thereto or by attachment hereto. Term of said Lease Agreement commenced on the ___ day of _______________, 20___, and will/did expire on the ___ day of _______________, 20___. The address of the dwelling leased in the prior leases agreement and which is the subject of this Residential Lease Extension is as follows: ___________________________________________________________________. 2. EXTENSION OF TERM OF LEASE: Landlord and Tenant hereby extend and continue the term and duration of the above described Lease Agreement, and incorporate herein by reference all the terms and conditions of said Lease Agreement. Said Lease Agreement shall continue and extend for an additional term, commencing on the ___ day of _______________, 20___, and expiring on the ___ day of _______________, 20___, unless renewed or extended pursuant to the conditions set forth in said Lease Agreement. 3. REVISED RENT PAYMENTS: Tenant agrees to pay rent unto the Landlord during the term of this Lease Extension in equal monthly installments of $_______________, said installment for each month being due and payable on or before the 1st day of the month, the first full rent payment under this Lease Extension being due on the 1st day of _______________, 20___. If applicable, the prorated rent from the commencement of this Lease to the first day of the following month is $_______________, which amount shall be paid at the execution of this Lease Extension. All terms and conditions of rent payment, and consequences for untimely payment or non-payment, remain as described in the previous Lease Agreement, referenced and incorporated above.
4. Sublet: tenant agrees that upon the occurrence of the above described events or to any other event of the tenant's choice, that he/she/it may not sublet in any dwelling unit owned by, owned by, or leased to the landlord. 5. Rental deposit: rent is payable at the time of the receipt of the first full rent payment under the terms and conditions of this residential lease extension. All interest earned is non-refundable. 6. Termination of relationship: landlord and tenant agree that the landlord may terminate the tenancy and release the tenant in the event of: (i) landlord's death; (ii) tenant's default in the payment of rent;(iii) the lease term or other terms and conditions, including, without limitation, the failure to exercise reasonable care, in the use and care of any dwelling unit leased to the landlord and to the tenant or the premises; or (iv) breach of this residential lease extension or other breach of the landlord's obligations under subsection 6(b)(vii) of the residential tenancies act. Failure of the tenant to comply with any of the provisions of this residential lease extension shall be considered the landlord's breach hereunder. The landlord may also terminate the lease for breach of this residential lease extension in the event that the rental income from the premises does not cover the rent, security and fees charged by the landlord, which event shall automatically terminate the obligation of the tenant to maintain the premises. The provisions of this residential lease extension shall terminate upon the execution of a separate written lease by both parties to the residential lease with this residential lease extension attached hereto as an annex thereto. 7. Miscellaneous: all agreements, provisions, waivers, representations and warranties made hereunder are void in the event of any default by the landlord or tenant arising as a result thereof. Any dispute arising under, out of or in connection with this residential lease extension shall be governed by and construed in accordance with the laws of the province of Ontario, and the laws and legal procedures of the courts having superior jurisdiction therein and in accordance with all decisions of the courts in which the parties are or may be found to be parties and are not subject to the jurisdiction of any state court. The rights and obligations of landlord and tenant arising under and in relation to this residential lease extension shall be governed by, and construed in accordance with, the laws of Ontario and in accordance with the laws and legal procedures of the courts. Tenant hereby agrees that his/