Lease and Option to Purchase
THIS LEASE AND OPTION TO PURCHASE AGREEMENT is made this day of
, 20 , between (collectively “Landlord”), having an address at and (“Tenant”), having an address as .
WHEREAS, Landlord is the owner of that certain real property located at , which is more specifically described as follows:
WHEREAS, Tenant desires to lease the Premises and obtain from Landlord an option to purchase the Premises.
NOW THEREFORE, in consideration of the Premises and mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
1. Premises Term. Landlord does hereby lease unto Tenant the Premises on the terms and conditions hereinafter set forth. The term of this Lease shall be for a term of one
(1) year commencing on the first day of , and continuing through the day of , 20 or until such time as Tenant exercises its option to purchase the Premises as hereinafter set forth.
2. Rent. Tenant agrees to pay Landlord at the address hereinabove set forth or at such other place as Landlord may designate, rent payable in equal monthly installments of
and No/100 Dollars ($ .00), which shall be due and payable on or before the 1st day of each month without
notice or demand. Tenant also agrees to pay, as additional rent, a late charge of
$ for any monthly payment not paid on or before the day
of the month in which the rental payment is due, and an additional late charge of
$ per day thereafter until said payment and the late charges are paid in full.
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