Fill and Sign the Residential Lease Agreement Template with Option to Purchase Form

- 1 - OPTION TO PURCHASE ADDENDUMTO RESIDENTIAL LEASE AGREEMENT This O ptio n to Purc h ase A dden dum to R esid en tia l L ease A gre em en t is en te re d in to by an d betw een __ ________ ______ __________________ ______________, here in afte r re fe rre d to as "L esso r" , an d __ ________ ______ __________________ ______________, h ere in afte r r e fe rre d t o a s " L esse e".F or t h e v alu ab le c o nsid era tio ns d esc rib ed b elo w , t h e s u ffic ie n cy o f w hic h a re h ere b y a ck now le d ged , L esso r a n d Lesse e d o h ere b y c o ven an t, c o ntr a ct a n d a g re e a s f o llo w s:1 . GRANT O F L EA SE : L esso r d oes h ere b y le ase u nto L esse e a n d L esse e d oes h ere b y re n t fro m L esso r th e pers o nal re sid en ce lo cate d at ________________ ____________________, ___________________, __ _______ , a s d esc rib ed in th e R esid en tia l L ease A gre em en t s ig ned o n _ __________________, a n d a tta ch ed here to .2 . OPT IO N T O P U RCH ASE : L esse e is h ere b y g iv en a n o ptio n to p urc h ase th e le ase d p re m is e s a t a n y tim e afte r _ _______________ ___ u p t o t h e d ate o f t e rm in atio n o f t h is l e ase f o r a p urc h ase p ric e o f $ ______ p ay ab le in c ash a t c lo sin g. T his o ptio n t o p urc h ase s h all b e e x erc is e d b y L esse e b y g iv in g ( _ ___) d ay s n otic e i n w ritin g to L esso r. W ith in _ __ ___ (_ ___) d ay s a fte r L esse e h as e x erc is e d th is o ptio n a s h ere in a b ove p ro vid ed , a co ntr a ct o f s a le s h all b e e x ecu te d b y L esso r a n d L esse e, a n d t h e s a le w ill b e p urs u ed t o c lo sin g p er t h e t e rm s o f sa id c o ntr a ct. D urin g th e d ura tio n o f th e O ptio n, L esso r m ay n ot o ffe r th e p re m is e s fo r s a le to a n y p ers o n ex cep t L esse e.3 . ASSIG NM EN T O R T R ANSF E R : L esse e s h all n ot h av e t h e r ig ht o r p ow er t o t r a n sfe r, a ssig n o r s u ble ase t h is op tio n o r a n y p ro vis io n t h ere o f w ith out t h e e x pre ss w ritte n c o nse n t o f L esso r.4 . HEIR S A ND A SSIG NS: I t is a g re ed a n d u nders to od th at a ll c o ven an ts o f th is o ptio n s h all s u cceed to a n d b e bin din g u pon th e re sp ec tiv e h eir s , e x ecu to rs , a d m in is tr a to rs , s u ccesso rs a n d a ssig ns o f th e p artie s h ere to , b ut no th in g c o nta in ed h ere in s h all b e c o nstr u ed s o a s t o a llo w t h e L esse e t o t r a n sfe r o r a ssig n t h is l e ase i n v io la tio n of a n y t e rm h ere o f.5 . EN TIR E A G REEM EN T: This ag re em en t co nta in s th e en tir e ag re em en t b etw een th e p artie s h ere to an d neith er p arty i s b ound b y a n y r e p re se n ta tio ns o r a g re em en ts o f a n y k in d e x cep t a s c o nta in ed h ere in . * * * W IT N ESS T H E S IG NATU RE(S ) t h is t h e _ ___ d ay o f _ ________, 2 0_ _. __ _____________ ____________ _________________ ____________________________________________L E SSO R LESSE E__ _____________ ____________ _________________ ____________________________________________L E SSO R LESSE E