Residential Contract

RESIDENTIAL CONTRACT

This Residential Contract (the "Contract") is made and entered into on by and between Landlord Name: and Tenant Name: .

Premises Address:

RECITALS

WHEREAS, Landlord is the owner of the real property and improvements located at the Premises and holds legal authority to grant a leasehold interest in the Premises; and

WHEREAS, Tenant desires to lease the Premises for residential purposes and Landlord is willing to lease the Premises to Tenant on the terms and conditions set forth in this Contract; and

WHEREAS, the parties intend by this Contract to set forth the full agreement between them regarding the tenancy, including rent, term, obligations, remedies and other material terms.

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties agree as follows:

1. PREMISES AND PURPOSE

Landlord hereby leases to Tenant, and Tenant hereby takes from Landlord, the residential premises described above solely for residential occupancy by Tenant and Tenant's immediate household. The Premises shall not be used for any unlawful purpose or commercial enterprise.

2. TERM

The initial term of this Contract shall commence on and shall terminate on (the "Term"), unless earlier terminated in accordance with the provisions of this Contract. If Tenant remains in possession after expiration of the Term with Landlord's consent, tenancy shall continue on a month-to-month basis under the terms of this Contract.

3. RENT

Tenant shall pay to Landlord as rent the sum of $ per month, payable in advance on or before the day of each month to Landlord at the address specified for Notices or at such other place as Landlord may designate in writing.

If rent is not received within days after the due date, Tenant shall pay a late charge of $ and interest on overdue rent at the lesser of the maximum lawful rate or per annum from date due until paid.

4. SECURITY DEPOSIT

Tenant shall deposit with Landlord the sum of $ as security for Tenant's performance of obligations under this Contract. Landlord may apply the deposit to cure Tenant defaults, unpaid rent, repair of damage beyond ordinary wear and tear, and other sums due under this Contract. Landlord shall account for the disposition of the deposit in accordance with applicable law.

5. UTILITIES AND SERVICES

Responsibility for payment of utilities shall be allocated as follows (check applicable):

Electric — Landlord pays Electric — Tenant pays Water — Landlord pays Water — Tenant pays Gas — Tenant pays Other — Specify:

6. MAINTENANCE AND REPAIRS

Tenant shall maintain the Premises in a clean and sanitary condition and shall promptly notify Landlord of any condition requiring repair. Tenant shall be responsible for the cost of repairs resulting from Tenant's misuse, negligence or wilful act. Landlord shall be responsible for repairs to structural components and major building systems, except where damage is caused by Tenant's acts or omissions.

Notwithstanding the foregoing, Tenant shall not undertake major repairs or alterations without Landlord's prior written consent. Tenant shall allow access to repair personnel upon reasonable notice, except in emergency situations where immediate access is necessary to prevent damage or injury.

7. ALTERATIONS AND IMPROVEMENTS

Tenant shall not make structural alterations, additions or improvements to the Premises without the prior written consent of Landlord. Any approved alterations shall be performed in a good and workmanlike manner and shall become part of the Premises unless otherwise agreed in writing. At Landlord's election, Tenant shall, at Tenant's expense, restore the Premises to their prior condition upon termination if required by Landlord.

8. ENTRY BY LANDLORD

Landlord may enter the Premises at reasonable times to inspect, make necessary repairs, show the Premises to prospective tenants or purchasers, or for other reasonable purposes. Except in the event of an emergency, Landlord shall provide Tenant with not less than notice prior to entry.

9. PETS

Pets: Pets allowed No pets allowed

If pets are allowed, Tenant shall pay a non-refundable pet fee of $ and shall be responsible for any damage caused by such pet.

10. DEFAULT AND REMEDIES

If Tenant fails to pay rent or otherwise breaches this Contract, Landlord shall give Tenant written notice of the breach and, where law requires, a reasonable opportunity to cure. If Tenant fails to cure within the time permitted by law, Landlord may pursue all available remedies at law or in equity, including termination of tenancy, recovery of possession, damages and costs, including reasonable attorneys' fees where permitted by law.

11. ASSIGNMENT AND SUBLETTING

Tenant shall not assign this Contract or sublet the Premises, in whole or in part, without Landlord's prior written consent, which shall not be unreasonably withheld. Any assignment or subletting without such consent shall be void and constitute a material breach of this Contract.

12. INSURANCE AND INDEMNITY

Tenant is encouraged to obtain renter's insurance for Tenant's personal property and liability. Tenant shall indemnify and hold Landlord harmless from and against claims, liabilities, damages and expenses arising from Tenant's use or occupancy of the Premises, except to the extent caused by Landlord's negligence or willful misconduct.

13. NOTICES

All notices required or permitted under this Contract shall be in writing and shall be delivered personally, sent by certified mail, return receipt requested, or delivered by nationally recognized overnight courier to the addresses set forth below (or to such other address as either party may designate by notice).

14. LEAD-BASED PAINT DISCLOSURE

If the Premises were built before 1978, Landlord shall provide Tenant with any known information regarding lead-based paint hazards as required by law. Tenant acknowledges receipt of any such disclosure when applicable.

15. MISCELLANEOUS

Governing Law. This Contract shall be governed by and construed in accordance with the laws of the state in which the Premises is located.

Entire Agreement. This Contract, including any written addenda and signed disclosures, constitutes the entire agreement between the parties and supersedes all prior negotiations, representations or agreements, whether written or oral.

Severability. If any provision of this Contract is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

Amendments and Waiver. No amendment or waiver of any provision of this Contract shall be effective unless in writing and signed by both parties. The failure of either party to enforce any provision shall not constitute a waiver of that provision.

Counterparts and Electronic Signatures. This Contract may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Signatures transmitted by electronic means shall be binding and treated as originals.

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