Residential Leasing Deed

RESIDENTIAL LEASING DEED

This Residential Leasing Deed (the "Deed") is made and entered into as of Execution Date: by and between Lessor Name: whose mailing address: , and Lessee Name: whose mailing address: .

RECITALS

WHEREAS, Lessor is the lawful owner of the real property and improvements commonly known as: (the "Premises"); and

WHEREAS, Lessee desires to lease the Premises from Lessor and Lessor desires to lease the Premises to Lessee upon the terms and conditions set forth in this Deed;

WHEREAS, the parties intend that this Deed set forth their entire agreement with respect to the leasing of the Premises and to allocate rights, duties and remedies between them.

NOW, THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. PREMISES

Lessor hereby leases to Lessee, and Lessee accepts, the Premises described above together with the appurtenances and rights of ingress and egress as presently exist. The Premises shall be used solely for residential purposes and for no other purpose without the prior written consent of Lessor.

2. TERM

The term of this Deed shall commence on and shall terminate on (the "Term"), unless sooner terminated as provided herein. Any holding over by Lessee after expiration of the Term without Lessor's written consent shall constitute a tenancy at sufferance and Lessee shall be liable for holdover damages.

3. RENT

Lessee shall pay to Lessor monthly rent in the amount of $ payable in advance on or before the day of each calendar month at Lessor's notice address or at such other place as Lessor designates in writing. Rent not received by Lessor within days after its due date shall incur a late charge of $ and interest thereafter at the lesser of reasonable legal rate or .

4. SECURITY DEPOSIT

Upon execution of this Deed Lessee shall deposit with Lessor the sum of $ to secure Lessee's performance of its obligations. The deposit shall be held by Lessor and returned in accordance with applicable law, less lawful deductions for damages, unpaid rent, or other sums due. Interest, if any, shall be handled in accordance with applicable law.

5. USE, OCCUPANCY AND OCCUPANTS

The Premises shall be occupied only by Lessee and the following permitted occupants: . Lessee shall not use the Premises for any unlawful purpose, nor create a nuisance.

Pets permitted: Yes No If pets are permitted, an additional deposit or fee of $ may be required.

6. MAINTENANCE, REPAIRS AND ALTERATIONS

Lessee shall keep the Premises in a clean and sanitary condition and shall promptly notify Lessor of any condition requiring repair. Lessor shall be responsible for repairs to structural components and major systems unless damage is caused by Lessee's negligence or misuse. Lessee shall be responsible for repairs or replacements costing less than $ except where otherwise required by law.

Lessee shall not make any material alterations, additions, or improvements to the Premises without Lessor's prior written consent, and any permitted alterations shall be performed in a workmanlike manner and, unless otherwise agreed, shall become part of the Premises on completion.

7. UTILITIES AND SERVICES

Lessee shall pay for all utilities and services to the Premises except the following which shall be paid by Lessor: .

8. INSURANCE; LIABILITY

Lessee is encouraged to obtain renters' insurance to cover Lessee's personal property and liability. Lessor shall maintain property and liability insurance for the building but shall not be liable for loss or damage to Lessee's personal property except to the extent caused by Lessor's gross negligence or willful misconduct. Lessee agrees to indemnify and hold Lessor harmless from liabilities arising from Lessee's use of the Premises, except to the extent caused by Lessor's gross negligence or willful misconduct.

9. ENTRY BY LESSOR

Lessor or Lessor's agents may enter the Premises in case of emergency without prior notice. For non-emergency matters, Lessor shall provide reasonable prior notice to Lessee and may enter during reasonable hours for inspection, to make repairs or improvements, or to show the Premises to prospective tenants or purchasers in accordance with applicable law.

10. DEFAULT AND REMEDIES

If Lessee defaults in the payment of rent or other material obligations under this Deed and such default continues beyond any applicable notice and cure period required by law, Lessor may pursue all remedies available at law or in equity including termination of the tenancy, recovery of possession, damages, and costs of suit and reasonable attorneys' fees to the extent permitted by law. Lessor's acceptance of rent following a default shall not be deemed a waiver of Lessor's rights unless expressly agreed in writing.

11. ASSIGNMENT AND SUBLETTING

Lessee shall not assign this Deed or sublet the Premises, in whole or in part, without Lessor's prior written consent, which consent shall not be unreasonably withheld when Lessee is not in default. Any assignment or subletting without consent shall be void and constitute a default.

12. NOTICES

All notices shall be in writing and deemed delivered upon personal delivery, upon deposit with a nationally recognized overnight courier with proof of delivery, or on the third business day after being deposited in the United States mail, postage prepaid, addressed as provided above or as later designated in writing.

13. GOVERNING LAW

This Deed shall be governed by and construed in accordance with the laws of the State of without regard to its conflict of laws principles.

14. ATTORNEY FEES AND COSTS

In the event of any dispute arising out of this Deed, the prevailing party shall be entitled to recover its reasonable attorneys' fees and costs to the extent permitted by applicable law.

15. ENTIRE AGREEMENT

This Deed constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, representations or agreements, whether written or oral. No modifications shall be effective unless in writing and signed by both parties.

16. SEVERABILITY

If any provision of this Deed is held invalid or unenforceable, the remaining provisions shall continue in full force and effect and the invalid or unenforceable provision shall be replaced by a valid provision that most closely approximates the intent and economic effect of the invalid provision.

17. AMENDMENT; WAIVER; COUNTERPARTS

Any amendment to this Deed must be in writing and signed by both parties. No waiver of any provision shall be effective unless in writing and signed by the party granting the waiver. This Deed may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.

18. MISCELLANEOUS

Time is of the essence for all material obligations under this Deed. Headings are inserted for convenience only and shall not affect interpretation. The parties agree to execute such further documents as may be reasonably necessary to carry out the intent of this Deed.

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