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Indiana Residential Lease Agreement

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Indiana Residential Lease Agreement Page 2
Indiana Residential Lease Agreement
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10. Security Deposit: On the Commencement Date, Tenant shall owe Landlord, in
addition to any other sums required herein, an amount equal to the first month's rent (less the amount, if
any, paid by Tenant as a Good Faith Estimate) as a "Security Deposit." Landlord shall hold the Security
Deposit in an escrow account, which account may also contain other funds from other sources. The
Security Deposit shall be applied by Landlord to any costs or expenses incurred by Landlord as a result of
any breach or default by Tenant hereunder and any remaining balance of the Security Deposit shall be
returned to Tenant after expiration of the Lease Term and delivery of possession of the Leased Premises
to Landlord.
Tenant may satisfy its obligation to pay the Security Deposit by (i) on the
Commencement Date, making an initial payment of $ .00, which amount shall include the application
on the Commencement Date of the Tenant's Good Faith Deposit, if any, and (ii) on the first day of each
month thereafter, until the full amount of the Security Deposit has been paid, by making monthly
payments of $ .00 which shall be payable at the same time and place as the Rent.
Any late payment or non-payment of the balance of the Security Deposit in accordance
with the above paragraph shall result in the balance of the Security Deposit becoming due and payable
immediately upon such non-payment or failure to pay in a timely manner.
11. Good Faith Deposit: Upon execution of this Lease, Tenant shall make a deposit
of $ .00 ("Good Faith Deposit"). Landlord shall hold the Good Faith Deposit in a non-interest bearing
account, which account may also contain other funds from other sources. The Good Faith Deposit shall
be applied by the Landlord to the Security Deposit that is due upon the Commencement Date.
12. Alterations: Tenant shall not make or permit to be made any alterations,
additions, improvements or changes in the Leased Premises (including without limitation, painting,
wallpapering and attaching fixtures or other items to the Leased Premises) without in each case first
obtaining the consent of Landlord. All such alterations, additions, improvements and changes approved
by Landlord shall remain on the Leased Premises and shall become the property of Landlord upon the
expiration of the Lease Term (or other prior termination of this Lease). Landlord may charge to Tenant as
additional rent due on demand, the cost of restoring the Leased Premises to its original condition if
Tenant makes or permits to be made any alterations, additions, improvements or changes which have not
been approved of by Landlord.
13. Repairs: (If Applicable) Landlord shall be responsible for all repairs to the Leased
Premises which cost in excess of $ .00 per occurrence, including but not limited to the cost of repairs to
the roof, furnace, water heater, refrigerator, stove, dishwasher, air conditioners, electrical wiring and
plumbing on or in the Leased Premises; provided, that Tenant shall be responsible for any such repairs
necessitated by its willful acts or negligence or Tenant's failure to maintain the Leased Premises as
required by this Lease. Tenant shall be responsible for all repairs to the Leased Premises, which are not
Landlord's responsibilities. (If Applicable) TENANT SHALL BE RESPONSIBLE FOR PAYING ANY/ALL
SERVICE FEES, NOT TO EXCEED $ .00
14. Maintenance: Tenant shall be responsible for keeping and maintaining the
interior, exterior and grounds of the Leased Premises and all appliances and equipment located in the
Leased Premises in good working order and repair, and in a clean, safe, good and attractive condition at
all times (including without limitation, all necessary general cleaning and maintenance, mowing, trimming
and snow removal).
15. Use of Premises: Tenant shall not make or permit to be made (a) any unlawful,
improper, noisy or otherwise offensive use of the Leased Premises (b) any nuisance or waste of the
Leased Premises, or (c) any use of the Leased Premises which causes or may cause an increase in the
insurance premiums for the Leased Premises or which renders void or voidable any policy of insurance
covering the Leased Premises. Tenant represents and warrants that no business with the public shall be
conducted from the Leased Premises.
16. Locks: Tenant shall not change, alter, or replace any locks on the Leased
Premises or install any additional locks without the written consent of Landlord. Any locks installed with
Landlord's consent shall remain on the Leased Premises and become the property of Landlord.
17. Default: If Tenant (i) fails to pay any installment of Rent when due, (ii) fails to pay
on a timely basis any other expense or obligation of Tenant hereunder, or (iii) breaches any other term,
covenant or condition of this Lease, then Landlord may (a) cure any such breach for the account of
Tenant, and, if Landlord cures a breach, then Landlord may charge to Tenant as additional Rent payable
on demand an amount equal to all expenses incurred by Landlord, (b) take possession of the Leased
Premises, remove all persons and property from the Leased Premises, and, if Landlord takes possession
of the Leased Premises, then Landlord may charge to Tenant as additional rent due on demand all costs
of taking possession of, removing persons and property from, and repairing the Leased Premises, (c)
relet the Leased Premises, and, if Landlord relets the Leased Premises, then Tenant shall remain liable
for the excess of the monthly installments of Rent under this Lease over the Rent payments actually
received each month and Landlord may charge Tenant as additional rent due on demand all costs of
reletting the Leased Premises, (d) terminate this Lease by written notice, (e) permit Tenant to continue to
lease the Leased Premises as provided in Paragraph 22 of this Lease, and immediately place the Leased
Premises on the market for sale or lease, and/or (f) exercise any other legal or equitable right or remedy.
Indiana Residential Lease Agreement