Lease of Mobile Manufactured Home with Option to Purchase

Lease or Rental of Space in a Mobile Home Park and Lease of Mobile Home with Option to Purchase

Agreement made on between

of

referred to herein as Lessor, and

of

referred to herein as Lessee.

For and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

I. Lease of Lot

A. Description of Property

Lessor hereby Leases to Lessee, and Lessee hereby Leases from Lessor the real property described as follows:

1. Mobile Home Space No. ;

2. Name of Mobile Home Park ;

3. Address of Mobile Home Park ;

all of which shall be hereafter referred to in this Agreement as the Premises.

B. Term of Agreement

The period of this Lease is months beginning on the day of 20, and ending on the day of 20.

C. Rental

Lessee agrees to pay as rental for the use of the mobile home the sum of Dollars ($) per month, the first payment to made at the time the mobile home is occupied by Lessee, and each subsequent payment to be made in advance on the first day of each subsequent month.

D. Use of Premises

The Premises shall be used only for the parking of a mobile home, housing not more than persons. No storage shall be allowed under Lessee’s mobile home, unless the Premises are attractively enclosed by approved fencing or metal sheeting. Lessee will in every respect comply with the ordinances of , with the rules and orders of the Board of Health thereof, and with the orders and requirements of the police, sheriff’s, and fire departments thereof.

Lessee will not use the Premises in any manner which may vitiate the insurance or increase the rate of insurance on the Premises or the mobile home park as a whole.

E. Facilities and Utilities

Lessee shall pay for all water, gas, heat, electricity, telephone, and other services, except as may be herein excepted.

F. Assignment and Subletting

Lessee shall not sublet the Premises, or any part thereof, or assign this Lease Agreement without Lessor’s prior written consent.

G. Movement

Mobile homes shall be moved in or out at such favorable weather periods as may be mutually agreed upon.

H. Notice to Move

Lessor retains the right to require Lessee to move to another location within the mobile home park, provided Lessor gives Lessee written notice of such requirement at least days prior to such movement. In the event Lessor requires Lessee to move to another location within the mobile home park, Lessor will be responsible for and will pay all costs of moving Lessee’s mobile home, including connection of all utilities involved. Lessor agrees that the space to which Lessee may be required to move under this section shall not be smaller than the Premises described in this Agreement.

I. Signs

Lessee shall not erect or display either in Lessee’s space or within the mobile home park any business sign without the prior written consent of Lessor.

J. Title to Mobile Home

The mobile home to be placed on the Premises is to be construed as Lessor’s personal property for the purposes of this Lease Agreement, and shall not be deemed realty.

K. Deliveries of Products and Services

Inasmuch as Lessor’s mobile home park is maintained as a private enterprise, its streets and lanes are private and not public thoroughfares. Lessor may, therefore, at Lessor’s discretion, and in the interest of safety and traffic control, and for the well being of the other tenants, restrict the delivery of certain products and services to tenants within the mobile home park. These controls may or may not include such goods and services as the furnishing of dairy products, fuel, bakery goods, laundry, and dry cleaning. Where such limitations exist, the information shall be posted in the office of the mobile home park, and such posting is hereby made a part of this Lease Agreement.

L. Rules and Regulations

It is expressly understood between the parties that the rules and regulations posted in the office of the mobile home park are a part of this Lease Agreement at the time of execution hereof. Lessor reserves the right to alter, add to, or amend such rules and regulations from time to time, but such changes shall not take effect, insofar as Lessee is concerned, until written notice to this effect is delivered to Lessee.

M. Waiver

Waiver of one breach of a term, condition, or covenant of this Lease Agreement by either party shall be limited to the particular instance and shall not be deemed to waive past or future breaches of the same or other terms, conditions, or covenants.

N. Termination and Redelivery

Lessee may terminate this Lease Agreement at any time, without cause, by days prior written notice to Lessor. At the termination of this Lease for any reason, Lessee shall yield up immediate possession of the Premises to Lessor, and failing to do so, shall pay as liquidated damages for the time such possession is withheld Dollars ($) per day.

However, the provisions of this section and the acceptance of any such liquidated damages shall not constitute a waiver by Lessor of any right of re-entry as set forth, nor shall any other act in apparent affirmation of the tenancy operate as a waiver by Lessor of the right to forfeit this Lease Agreement and the term granted for the period still unexpired, for any breach of the terms, conditions, and covenants contained in this Agreement.

O. Default

It is expressly agreed between the parties that if default is made in the payment of the rent agreed to in Section I-3 of this Agreement, or any part of such rent, or in any of the terms, conditions, and covenants contained in this Agreement, to be kept by Lessee, or any of the rules and regulations now or hereafter established, or if the Premises shall be deserted or vacated, it shall be the right of Lessor at any time thereafter, at Lessor’s option, without notice, to declare the Lease term ended and to re-enter the Premises, or any part thereof, either with or without process of law, to expel, remove, and haul Lessee’s mobile home from the Premises, using such force as may be necessary to do so, and to repossess and enjoy the Premises as before this Lease Agreement, without prejudice to any remedies which might be otherwise used for arrears of rent or preceding breach of covenants by Lessee, Lessee expressly waiving all right to any notice or demand under any statute of this state relating to forcible entry and detainer. Lessee further agrees that Lessor, or the representatives or assigns of Lessor, shall have, at all times, the right to distrain for rent due, and shall have a valid and first lien on all property of Lessee, whether exempt by law or not, as security for the payment of the rent reserved in this Agreement.

P. Suit and Attorney Fees

It is expressly agreed by the parties that, after the service of notice, or the commencement of a suit, or after final judgment for possession of the Premises such rent shall not waive or affect such notice, suit, or judgment. Lessee further agrees to pay and discharge all reasonable costs, attorney fees and expenses that shall be made or incurred by Lessor in enforcing this Lease Agreement; and the parties agree that the terms, conditions, and covenants of this Lease Agreement shall be binding on, apply and inure to their respective heirs, executors, administrators and assigns.

Q. Taxation

In the event a tax, assessment, or other charge shall be imposed by any governmental entity upon Lessor on account of the existence of mobile homes on Lessor’s real property, Lessee agrees to reimburse Lessor for Lessee’s proportionate share of such taxes, assessments, or charges within days from Lessor’s written demand.

II. Lease of Mobile Home with Option to Purchase

A. Description of Mobile Home

Lessor hereby Leases to Lessee and Lessee hereby Leases from Lessor the following described mobile home (hereinafter called “Home”): bearing Serial Number and being more particularly described as:

B. Term of Agreement

The period of this Lease is (number) months beginning on and ending on .

C. Rental

Lessee agrees to pay as rental for the use of the Home the sum of $ (Dollars) per month, the first payment to made on , and each subsequent payment to be made in advance on .

D. Use of Home

Lessee will not use the Premises in any manner which may vitiate the insurance or increase the rate of insurance on the Home.

E. Assignment and Subletting

Lessee shall not sublet the Home, or any part thereof, or assign this Lease Agreement without Lessor’s prior written consent.

F. Deposit

Lessee agrees to deposit the sum of $ (Dollars) with Lessor, the receipt of which is hereby acknowledged, as assurance that the Home will be returned in the same clean condition as it is delivered to Lessee, the deposit to be refunded if the condition of the Home, upon its return, is acceptable to Lessor.

G. Indemnification

Lessee agrees to indemnify Lessor for any and all claims resulting from, or incidental to, the operation of the Home during the term of this Lease. Lessee assumes all risks and liabilities from the use and operation of the Home.

H. Warranties

Lessor is not the manufacturer of the Home and makes no warranty against patent or latent defects in material or workmanship of the Home.

I. Reports

Lessee shall furnish Lessor, within (number) hours after its occurrence, a complete report concerning any accident, collision, and/or damages to or involved with the Home.

J. Repairs

Lessee shall be solely responsible for all repairs and replacements necessary or desirable.

K. Insurance and Indemnification

1. Lessee will acquire, pay for, and maintain insurance for the Home, including public liability and property damage insurance, issued by a responsible company or companies, protecting the interests of both Lessee and Lessor against liability for damage, personal injury or death to the extent of not less than $ (Dollars) per accident and not less than $ (Dollars) per person; and the sum of $ (Dollars) per accident against liability for damage to property. Lessee agrees that the policy will include Lessor as a "named insured" and shall not be cancelled until after days notice to Lessor of Lessee’s intention to cancel.

2. Should any claim be made or any action be commenced against Lessor arising from any of the causes covered by the insurance referred to in Sub-Paragraph 1 above, Lessor will promptly notify Lessee and Lessee will conduct the defense of any such claim or action at Lessee's expense, including all costs and attorneys' fees.

L. Assignment

This Lease is personal to Lessee and may not be assigned by Lessee.

M. Default and Remedies

1. If any default shall be made by Lessee in the payment when due, of any rent or other sum due under this Agreement, or in the performance of any other provision of this Agreement, or if the Lessee shall otherwise, in any manner whatever, become unable to pay the rent specified here or to perform any of the provisions to be kept or performed by Lessee, then Lessor shall have the option, without notice to Lessee or demand for performance, to require Lessee to redeliver the Home to Lessor at a location designated by Lessor at Lessee's expense.

2. Upon any such default, and with or without terminating or forfeiting this Lease Agreement and without in any way affecting any other right or remedy of Lessor or any duties or obligations of Lessee under this Agreement, Lessor may Lease the Home as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable, in which event the rents received on any such Lease shall be applied first to the expenses of leasing and collecting, including any necessary renovation or repairs, then toward payment of all sums due or to become due to Lessor under this Agreement, and if a sufficient sum shall not thus be realized to pay such rent and other charges, Lessee shall pay to Lessor monthly any deficiency.

3. Upon any such default, Lessor may terminate this Lease Agreement, in which event Lessee shall pay to Lessor the amount of rent that would have been paid to Lessor had there been no such default.

4. The foregoing remedies for default shall not be exclusive but shall be cumulative and in addition to all other remedies.

N. Other than the Option to Purchase set forth in Paragraph P below, this is a Lease only, and the Lessee has acquired no right, title or interest in the Home, except the right to use the same pursuant to the provisions of this Lease Agreement.

O. The term of this Lease Agreement shall be extended for an additional term of (number) months pursuant to the terms of this Lease Agreement, including this paragraph for renewal, unless either Lessor or Lessee, at least (number) days before the end of the term of this Lease Agreement, gives written notice to the other of intention to terminate this Lease Agreement on expiration of the term provided for in this Agreement.

P. Option to Purchase

Lessor hereby grants to Lessee the option to purchase the Home in its then-current condition at any time during this Agreement for the sum of $ (Dollars) less (number)% of rent that has been paid pursuant to this Lease Agreement or any renewal thereof. If Lessee desires to exercise the option to purchase, Lessee shall do so by giving Lessor written notice of that intent no less than (number) days prior to the date for the next scheduled Lease payment under this Agreement. Lessor and Lessee agree that Lessor will be selling Home in its as is condition on the date of any such sale and makes no warranty as to the condition of the Home and waives any implied warranty of fitness for a particular purpose or merchantability.

Q. Mandatory Arbitration

Notwithstanding the foregoing, and anything herein to the contrary notwithstanding, any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect.

R. This Lease Agreement represents the entire Agreement between the parties and no provision may be waived or modified, except by an instrument in writing signed by both of the parties.

WITNESS our signatures the day and year first written above.