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Lease Purchase Agreement 1


Lease Purchase Agreement 1
RESIDENTIAL LEASE-PURCHASE AGREEMENT
This is a sample form. Consult an attorney for an official form.
THIS AGREEMENT, dated ______________________, is between _________________________________________
______________________________________________________, the Landlord(s) and _________________________
____________________________________________________________________________________, the Tenant(s).
In consideration of the payment of rent and the keeping and performance of the covenants and agreements by the
Tenant hereinafter set forth, the Landlord(s) do hereby lease unto the Tenant(s), the following described premises
situate in the County of ________________________________ State of _________________________, and better
known as: _______________________________________________________________________________________
The said premises, as described above, with all appurtenances, are hereby leased to the Tenant for a term of _________
months commencing _______________________, 20___. Rent for the premises is payable in monthly installments of:
$___________________, to be paid on or before the fifth day of the month for which rent is due.
$__________________ of each rent payment shall be credited toward the purchase price of the property.
THE TENANT, CONSIDERATION OF THE LEASING OF SAID PREMISES AS AFORESAID, COVENANTS
AND AGREES AS FOLLOWS:
To pay the rent for said premises as hereinabove provided;
To keep said premises in good condition and repair and at the expiration of this lease to surrender and deliver up the
same in as good order and condition as when entered upon, loss by fire, inevitable accident, act of God or ordinary wear
and tear excepted;
IT IS FURTHER AGREED that in case said premises are left vacant, then the Landlord may, without being obligated
to do so and without terminating this lease, re-take possession of the premises. If any part of the rent herein reserved be
unpaid, the Landlord may rent the same for such rent as the Landlord may be able to do so, making such changes and
repairs as may be required, giving credit for the amount so received, less all expenses.
It is agreed that if the tenant shall be in arrears in the payments of any installment of rent, or any portion thereof, or
in default of any of the covenants or agreements herein contained to be performed by the Tenant, which default shall be
uncorrected for a period of five (5) days after the Landlord has given written notice thereof, Landlord may, at his option,
without liability for trespass or damages, enter into and upon said premises, or a portion, thereof; declare the term of this
lease ended; repossess the said premises as of the Landlord's former estate; peaceably expel and remove the Tenant,
those claiming under him, or any person or persons occupying the same and their effects; all without prejudice to any
other remedies available to the Landlord for arrears of rent or breach of covenant.
IT IS FURTHER MUTUALLY AGREED that the Landlord, in consideration of the performance of all the covenants
and agreements herein to be performed by the Tenant under the lease, and for Tenant agreeing to perform all minor
repairs to the property during the term of the said lease, hereby grants to Tenant an exclusive option to purchase said
above described premises at any time during the term of this lease for the sum of $________________, payable as
follows:
_______________________________________________________________________________________________
_______________________________________________________________________________________________.
The Landlord, upon payment of said purchase money, shall convey said premises by Fee Simple Deed free from all
encumbrances except: ______________________________________________________________________________
________________________________________________________________________________________________
Lease Purchase Agreement 1
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