Lease Agreement

LEASE AGREEMENT FOR BUILDING WITH OPTION TO PURCHASE

STATE OF ALABAMA

COUNTY OF

THIS LEASE made by and between hereinafter called Lessor, and hereinafter called Lessee,

WITNESSETH

Lessor does hereby let and lease to Lessee the following described premises, viz:

for occupation as a and any other lawful purpose, and not otherwise, for and during the term of years to-wit: from the day of to the day of and covenants to keep Lessee in the quiet possession of the premises during said term, provided Lessee shall comply with all the stipulations of this lease.

IN CONSIDERATION WHEREOF, Lessee agrees to pay Lessor

DOLLARS ($) on the day of each month being at the rate of DOLLARS ($) per annum.

Lessee agrees not to sub-let the property, or any portion thereof or assign this lease, without consent of Lessor, which Lessor agrees not unreasonably to withhold, to commit no waste of the leased premises, but on the contrary, to take good care of same; and upon termination of this lease to surrender possession of same without notice, in as good condition as at commencement of the term, or as they may be put in during the term, as reasonable use and wear thereof will permit.

Lessee agrees to comply with all laws and city ordinances affecting the use or occupation of the premises hereby leased, and to fully relieve Lessor from any compliance therewith, or liability for violation thereof; to pay all charges for water, lights, and gas used on the premises during the term. It is understood that said Lessee is in charge of the property during the term of this lease, and shall be held accountable to Lessor for the proper care of and to protect the property from damage, or to replace all glass broken by Lessee, to replace all keys and locks lost or broken and to keep the premises in sanitary condition.

Lessee agrees not to hold Lessor liable for the breakage or leakage of water pipes above the ground nor for stoppage of waste pipes or sewers, but on the contrary to repair such breakage or leakage and to unstop such waste pipes or sewers at his or her own expense.

Lessee agrees that, in the event it becomes necessary for Lessor to employ an attorney to collect any of the rent agreed to be paid, or to enforce performance of any of the provisions of this lease, to pay all court costs and reasonable attorney's fee incurred therefor; and Lessee expressly waives all exemption secured to Lessee under the laws of the State of Alabama as against the collection of any debt herein, or hereby incurred or secured. Lessee hereby further covenants that if, for any reason, any default is made in the payment of said rent, or any installment or part thereof at the times above specified, or if default be made in the performance of any of the covenants or agreements herein contained the said leasing and the relation of the Lessor and Lessee, at the option of the Lessor, shall wholly cease and terminate, and said Lessor may re-enter the said premises and remove all persons therefrom; and the said Lessee hereby expressly waives the service of any notice to terminate the tenancy, notice to quit, or demand for possession. Lessee hereby declares that the furniture or other property which it will use in said premises is its own property, and is unencumbered.

It is mutually agreed that if the premises are made untenantable during the term by fire or other casualty Lessee shall not thereafter be liable for the payment of rent unless Lessor within a reasonable time restores the property to substantially the same condition as just previous to such fire or other casualty; provided, however, that Lessor, in order to hold Lessee, must within thirty days after the fire or casualty, give Lessee notice in writing of his intention to restore the premises, but rent shall cease during the period said premises remain untenantable.

It is further agreed to by and between the parties to this contract that no alteration, repairs, changes or improvements are to be made in, or to the premises herewith leased, without the consent, in writing, of the Lessor. If with the consent of Lessor any improvements are placed on the leased premises by Lessee, such improvements shall not be removed without the consent of Lessor in writing.

It is further understood and agreed that the Lessor shall not be liable for any damage that may accrue on account of any defect of said building or premises, or from fire, rain, wind or any other cause.

Lessee further agrees that Lessor shall have the right to attach a card “For Rent" on the premises, and to show the premises to any person desiring to rent, at any time within three months prior to the expiration of this lease, and to show the premises to any person desiring to purchase, at any time during the term of this lease.

Lessee shall have the option to extend this lease for an additional period of one year and may exercise the option by giving notice of intention to exercise the option at least 30 days prior to expiration of the primary term hereof.

Lessee shall have the option within the primary term or any extended term of this lease to purchase the premises which are the subject of this lease (the entire building, for the price of $ and may exercise this option at any time after giving 30 days notice of intention to exercise the same and on payment of the price of $ Lessor will execute and deliver to Lessee, its successors or assigns, a good and sufficient warranty deed conveying good and marketable title to the premises.

IN WITNESS WHEREOF, the parties have hereunto set their hands and seals in duplicate this the day of

STATE OF ALABAMA

COUNTY OF

I, the undersigned authority, a Notary Public in and for said County, in said State, do hereby certify that whose name(s) is/are signed to the foregoing Lease and who is/are known to me, acknowledged before me on this day, that, being informed of the contents of the Lease, he/she/they executed the same voluntarily on the day the same bears date.

Given under my hand and official seal, this day of

Notary Public

STATE OF ALABAMA

COUNTY OF

I, the undersigned authority, a Notary Public in and for said County, in said State, do hereby certify that whose name(s) is/are signed to the foregoing Lease and who is/are known to me, acknowledged before me on this day, that, being informed of the contents of the Lease, he/she/they executed the same voluntarily on the day the same bears date.

Given under my hand and official seal, this day of

Notary Public

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