Lease Of Condominium Unit

Lease of Condominium Unit Lease Agreement made on the ____________________ (date), between _______________________ (Name of Lessor) of ________________________ ________________________________________________ (street address, city, state, zip code), referred to herein as Lessor, and ____________________ (Name of Lessee), ________________________________________________ ____________________ (street address, city, state, zip code), 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: 1. Premises Leased Lessor hereby leases to Lessee Unit No. ________ (number), hereinafter called the Unit, in ___________________________ (Name of Condominium) (the Condominium), a condominium at _________________________________ ______________________________________ (street address, city, state, zip code), pursuant to a Declaration of Restrictions (the Declaration), dated _________________ (date), and recorded on __________________ (date), in Book ___________ (number) of the official Land Records, at (specify book and page) ________________________________, in the office of the (e.g., County Recorder) ____________________ of the __________________ (name of county), __________________ (name of state). The Unit is also designated in floor plans of the building, attached to the Declaration as (specify exhibit) _________________________________. Lessor also leases to Lessee items of personal property described in Exhibit A attached hereto and made a part hereof, now located in the Unit. No other personal property will be furnished by Lessor. 2. Rights Appurtenant to Unit Except as otherwise provided in this Agreement, Lessee shall be deemed owner of the Unit for all purposes provided in the Declaration, Bylaws, and Rules and Regulations of the Condominium, and shall have all the rights, privileges, and duties appurtenant to such Ownership including, but not limited to, membership and the right to vote in the Association of Unit Owners. Occupancy The Unit is leased for occupancy as a private dwelling, to Lessee, and heirs and assigns, and their families, and is not to be used for any other purposes or occupied by any other person, other than transient relatives and friends, without first obtaining Lessor's written consent to such use. 4. Term of Lease and Holding Over The term of the Lease shall commence on _________________ (date), 3. American LegalNet, Inc. www.FormsWorkFlow.com and shall end on ________________ (date), unless sooner terminated by a breach of the terms and conditions of this Lease by Lessee, or by an abandonment of the Premises by Lessee. Lessee shall surrender the Premises to Lessor immediately on the termination of the Lease term. The failure of Lessee to surrender the Leased Premises on the date provided in this Agreement for the termination of the Lease term, and the subsequent holding over by Lessee, with or without the consent of Lessor, shall result in a creation of a tenancy from month-to-month at a monthly rental of $____________, payable on the _______ (ordinal number) day of each month during the month to month tenancy. This provision does not give Lessee any right to hold over at the expiration of the term. All other terms and conditions of this Lease shall remain in full force during any month-to-month Lease under this Section. 5. Rent and Assessments A. During the term of this Lease, Lessee shall be liable for both rent and assessments, such assessments to be determined by the Governing Board of the Condominium, called the Governing Board, as set forth in the Declaration and Bylaws of the Condominium. B. Rent for the Unit is $__________ per month, due and payable in advance to Lessor on the ________ (ordinal number) day of each month. $___________, representing the amount due for the first month or part of month of occupancy, is payable by check to the order of Lessor on execution of this Lease. Increases in the amount of rent due under this Lease will be made only at five-year intervals as Lessor may determine. Any such adjustment will be made in accordance with (e.g., a nationally recognized price index) _____________________________________. No decrease that would establish the rent at an amount less than the amount specified above shall be made. C. Assessments will be made against the Unit on the basis of the undivided interest in the common areas of the Condominium allocated to the Unit, as set forth in the Declaration. The interest of the Unit, expressed as a percentage of the overall annual budget of common expenses for each year, is _________%. Assessments will be made by the governing board quarterly, on _______________________________ (months and days of assessments). ______% of the amount of each assessment will be payable by Lessee in advance to the Governing Board on the ____ day of each month. $__________, representing assessment against the Unit for the first month or part of month of occupancy, is payable by Lessee by check to the order of ________________________________ (Name of Association of Owners) on execution of this Lease. 6. Lessee's Covenants A. Payment of Rent. Lessee agrees to pay the rent to Lessor at the address set forth above without any deduction and without notice or American LegalNet, Inc. www.FormsWorkFlow.com demand. B. Assessments; Common Expenses. Lessee agrees to pay promptly when due, all assessments, whether for common expenses or otherwise, as may be levied against the Unit pursuant to the Declaration, Bylaws, and Rules and Regulations of the Condominium, or pursuant to law. C. Liens. Lessee shall not, individually or as a member of the Association of Owners of the Condominium, fail to do any act which results in the Premises or any part of the Premises becoming subject to a lien or encumbrance other than such mortgage liens as are authorized in this Agreement, and Lessee agrees to indemnify Lessor from and against any and all liability, loss, cost, and expense, including reasonable attorney's fees, Lessor may sustain or incur by reason of any such lien or encumbrance. D. Fire insurance. Lessee agrees, at the proportionate share of the expense as a member of the Association of Owners, and at all times during the term of this Lease, to keep the property insured against fire as follows: (fire insurance amounts and terms) _____________________