This agreement made this ____ day of ______________2006, is between Sarah L. Dailey (hereinafter called “Sarah” or "owner") and______________________________________________
________________________________________________________________________
hereinafter called “resident”). Owner leases to resident and resident rents from owner, Sarah L. Dailey, 166 County Road 80, Riceville, TN 37370, under the following conditions:
TERM: The initial term of this lease shall be 3 MONTHS beginning at 5:00AM on ___/___/2006 and ending at 5:00 PM on ___/___/2006.
POSSESSION: If there is a delay in delivery of possession by owner, rent shall be abated on a daily basis until possession is granted. If possession is not granted within five (5) days after the beginning day of initial term, then resident may void this agreement and have full refund of any fee. Owner shall not be liable for damages for delay in possession.
RENT: Rent is payable monthly in advance at a rate of eight hundred eighty five dollars, ($885.00) per month, during the term of this agreement and must be postmarked on the 1st day of each month. Rent must be sent to:
- Sarah L. Dailey
P.O. Box 291
Loudon, TN 37774
LATE PAYMENTS AND RETURNED CHECKS: Time is of the essence of this agreement and if owner elects to accept rent postmarked after the first day of the month, resident agrees to tender all late rents to owner in the form of cashier’s check, certified check or money order. In the event a check is returned, resident agrees to pay all future rents and charges in the form of cashier’s check or money order.
CLEANING AND REHAB FEE: Resident agrees to pay $800.00 to owner before taking possession of the house as security for resident’s fulfillment of the conditions of this agreement. One-half of this fee will be returned to resident within 30-60 days after house is vacated if:
Lease term has expired or agreement has been terminated by both parties; and
All monies due to owner by resident have been paid; and
House is not damaged and is left in its original condition, normal wear and tear expected (with the exception of any damage due to pets)
NOTE: If the tenant purchases the home in the future, the entire deposit amount of $800 will go toward the purchase price.
RENEWAL TERM: Either party may terminate this agreement at the end of the initial term by giving the other party thirty (30) days written notice prior to the end of the term. If notice is not given, then this agreement will be extended on a month to month basis with all terms remaining the same until terminated, as of the last day of a calendar month, by either party upon thirty (30) days written notice.
EARLY TERMINATION: Provided resident is not in default hereunder at the time of giving the notice, strictly complies with all of the provisions of this paragraph, and termination is as of the last day of a calendar month, resident may terminate this agreement before the expiration of the original term by:
Giving owner thirty (30) days written notice; plus
Paying all monies due through date of termination; plus
Paying an amount equal to one month’s rent or one-forth of the balance due under the rental agreement, whichever is the lesser amount, as liquidated damages; plus
The resident agrees to forfeit his/her total Cleaning and Rehab fee in the amount of $800.00.
Owner shall not relieve resident of his/her responsibilities and obligations regarding any damage to the house.
SUB-LET: Resident may not sub-let house or assign this lease without written consent of owner.
DISCLOSURE: Sarah L. Dailey whose address is P.O. Box 291, Loudon, TN 37774 is authorized to manage premises. Owner is same.
FIRE: If house is made uninhabitable by fire not the fault of the resident, this agreement shall be terminated.
HOLD OVER: Resident shall remove all of resident’s property and deliver possession of house in a clean condition and good order and repair to owner upon termination or expiration of this agreement. The following removal/disposal fees will apply to all items left behind: There will be an additional fee of $15.00 per trash bag, as well as $35.00 per item for any item that owner cannot fit into a trash bag.
RIGHT OF ACCESS: Owner, or agent of owner, shall have the right of access to house, without notice for inspection and maintenance during reasonable hours. In case of an emergency, owner may enter at any time to prevent damage to the property.
USE: House shall be used for residential purposes only and shall be occupied only by the persons named in resident’s lease. House shall be used so as to comply with all state, county and municipal laws and ordinances. Resident shall not use house or permit it to be used for any disorderly or unlawful purpose or in any manner so as to interfere with other neighbors’ enjoyment of our neighborhood.
LANDSCAPING: No rocks shall be removed from the property. The rocks around the pond area are used to secure the pond liner. Replacement of rocks due to removal from the property will be the resident’s responsibility.
PROPERTY LOSS: Owner shall not be liable for damage to resident’s property of any type for any reason or cause whatsoever. Resident shall be responsible for obtaining fire, extended coverage and liability insurance with respect to house and contents. Initial ______________
PETS: No animals are allowed inside the home. Resident agrees to forfeit his/her $800.00 Cleaning and Rehab deposit if ower decides that there is pet damage at the end of the lease.
INDEMNIFICATION: Resident releases owner from liability for and agrees to indemnify owner against all losses incurred by owner as a result of (a) resident’s failure to fulfill and condition of this agreement; (b) any damage or injury happening in or about house or premises to resident’s invitees or licensees or such person’s property; (c) resident’s failure to comply with any requirements imposed by any governmental authority; and (d) any judgment, lien, or other encumbrance filed against house as a result of resident’s actions.
FAILURE OF MANAGEMENT TO ACT: Failure of owner to insist upon strict compliance with the terms of this agreement shall not constitute a waiver of owner’s rights to act on any violation.
REMEDIES CUMULATIVE: All remedies under this agreement or by law or equity shall be cumulative. If a suit for any breach of this agreement establishes a breach by resident, resident shall pay owner all expenses incurred in connection therewith.
NOTICES: Any notice required by this agreement shall be in writing and shall be deemed to be given if delivered personally or mailed by registered or certified mail.
REPAIRS: Resident accepts house in “as is” condition as suited for the use intended. Resident understands and agrees that the house, equipment and fixtures will be under the control of resident and agrees to keep said house together with the fixtures therein, in a clean, sightly and sanitary condition. Owner will make necessary repairs to house with reasonable promptness after receiving of notice from resident. If any damage, beyond normal wear and tear, is caused by resident or his/her guest, resident agrees to pay owner the cost of repair with the next rent payment. Resident may not remodel or structurally change the house, nor remove any fixture therefrom.
ABANDONMENT: If resident removes or attempts to remove property from the premises other than in the usual course of continuing occupancy, without having first paid owner all monies due, house may be considered abandoned, and owner shall have the right, without notice, to store or dispose of any property left on the premises by resident. Owner shall also have the right to store or dispose of resident’s property remaining on the premises after the termination of this agreement. Any such property shall be considered owner’s property and title thereto shall vest in owner.
SMOKE DETECTORS: It shall be the resident’s duty to regularly test the smoke detector(s) and agree to notify owner immediately in writing of an problem, defect, malfunction or failure of the smoke detector(s). It shall be the resident’s responsibility to replace the battery. The resident shall acknowledge and agree that owner is not the operator, manufacturer, distributor, retailer or supplier of the smoke detector(s). ______ (Initial) Resident shall assume full and complete responsibility for all risk and hazards attributable to, connected with or in anyway related to the operation, malfunction or failure of the smoke detector(s), regardless of whether such malfunction or failure is a attributable to, connected with, or in any way related to the use, operation manufacture, distribution, repair, servicing or installation of said smoke detectors.
MORTGAGEE’S RIGHTS: Resident’s rights under this lease shall at all times be automatically junior and subject to any deed to secure debt which is now or shall hereafter be placed on premises of which the house is a part; if requested, resident shall execute promptly any certificate that owner may request to specifically implement the subordination of this paragraph.
DEFAULT BY RESIDENT: Any breach or violation of any provision of this agreement by resident or any untrue or misleading information in resident’s rental information shall give owner the right to terminate this agreement or to take possession and hold resident liable for the remainder of the term.
LEASE TO OWN OPTION: Provided that resident is not in default or breach of this agreement, owner hereby grants resident the right to purchase the said property for $129,900.00. This option to buy expires with any default under the lease or no later than Dec 01, 2007. If and when resident makes settlement on said property, ower will credit the following amounts toward the purchase price of the property:
Of the $885.00 monthly payment, $200.00 per month will be credited to the purchase price for the first 12 months of rent. If resident renews rental agreement on Dec 01, 2007, $150.00 per month will be credited to the purchase price for the 2nd 12 months of rent, unless settlement occurs on or before 12/01/07. This is in addition to the resident’s deposit of $800.00, which will also be credited to purchase at settlement.
__________initials
RULES & REGULATIONS:
(a). LOCKS: Resident is prohibited from adding locks to, changing or in any way altering locks installed on the doors of the house, without the written consent of owner.
(b). LAWN: Yard maintence will be the responsibility of the resident.
(c). ANTENNAS: Radio or television aerials shall not be placed or erected on the roof or exterior of the house.
(d). STORAGE: Resident may use the wooden storage building located inside of the fence in the back yard and the metal white building for storage. No goods or materials of any kind or description, which are combustible or would increase fire risk shall be taken or placed in storage area. Storage areas shall be at resident’s risk and owner shall not be responsible for any loss or damage.
(e). WALLS AND CEILINGS: Any and all paint choices must be approved by owner.
(f). GUESTS: Resident shall be responsible and liable for the conduct of his/her guests. Acts of guests in violation of this agreement or owner’s rules and regulations may be deemed by owner to be a breach by resident.
(g). WATER BEDS: Resident shall not have or keep any waterbeds in house without prior written permission from owner.
(h). FENCE: Do not remove fencing.
ENTIRE AGREEMENT: This agreement and any attached addendum constitute the entire agreement between the parties and no oral statements shall be binding.
INSTALLATION OF GARAGE DOORS: If garage doors are installed, and tenant relocates, the garage doors must remain intact. Installation of garage doors will not affect the deposit or rent payment. All maintenance and costs for installed garage doors will be the responsibility of the tenant.
IN WITNESS WHEREOF, the parties hereto have caused these presents to be signed in person or by a person duly authorized, the day and year first above written.
________________________ _________
Sarah L. Dailey (Management) DATE
________________________ __________ _________________________ ________
Resident DATE Resident DATE
() Sarah L. Dailey 423-572-2636
Sink and tub drains can be kept clog free by using Liquid Plumber at least once a month!
Please change air filter every 3 months!!
________________________________________________________________________
hereinafter called “resident”). Owner leases to resident and resident rents from owner, Sarah L. Dailey, 166 County Road 80, Riceville, TN 37370, under the following conditions:
TERM: The initial term of this lease shall be 3 MONTHS beginning at 5:00AM on ___/___/2006 and ending at 5:00 PM on ___/___/2006.
POSSESSION: If there is a delay in delivery of possession by owner, rent shall be abated on a daily basis until possession is granted. If possession is not granted within five (5) days after the beginning day of initial term, then resident may void this agreement and have full refund of any fee. Owner shall not be liable for damages for delay in possession.
RENT: Rent is payable monthly in advance at a rate of eight hundred eighty five dollars, ($885.00) per month, during the term of this agreement and must be postmarked on the 1st day of each month. Rent must be sent to:
- Sarah L. Dailey
P.O. Box 291
Loudon, TN 37774
LATE PAYMENTS AND RETURNED CHECKS: Time is of the essence of this agreement and if owner elects to accept rent postmarked after the first day of the month, resident agrees to tender all late rents to owner in the form of cashier’s check, certified check or money order. In the event a check is returned, resident agrees to pay all future rents and charges in the form of cashier’s check or money order.
CLEANING AND REHAB FEE: Resident agrees to pay $800.00 to owner before taking possession of the house as security for resident’s fulfillment of the conditions of this agreement. One-half of this fee will be returned to resident within 30-60 days after house is vacated if:
Lease term has expired or agreement has been terminated by both parties; and
All monies due to owner by resident have been paid; and
House is not damaged and is left in its original condition, normal wear and tear expected (with the exception of any damage due to pets)
NOTE: If the tenant purchases the home in the future, the entire deposit amount of $800 will go toward the purchase price.
RENEWAL TERM: Either party may terminate this agreement at the end of the initial term by giving the other party thirty (30) days written notice prior to the end of the term. If notice is not given, then this agreement will be extended on a month to month basis with all terms remaining the same until terminated, as of the last day of a calendar month, by either party upon thirty (30) days written notice.
EARLY TERMINATION: Provided resident is not in default hereunder at the time of giving the notice, strictly complies with all of the provisions of this paragraph, and termination is as of the last day of a calendar month, resident may terminate this agreement before the expiration of the original term by:
Giving owner thirty (30) days written notice; plus
Paying all monies due through date of termination; plus
Paying an amount equal to one month’s rent or one-forth of the balance due under the rental agreement, whichever is the lesser amount, as liquidated damages; plus
The resident agrees to forfeit his/her total Cleaning and Rehab fee in the amount of $800.00.
Owner shall not relieve resident of his/her responsibilities and obligations regarding any damage to the house.
SUB-LET: Resident may not sub-let house or assign this lease without written consent of owner.
DISCLOSURE: Sarah L. Dailey whose address is P.O. Box 291, Loudon, TN 37774 is authorized to manage premises. Owner is same.
FIRE: If house is made uninhabitable by fire not the fault of the resident, this agreement shall be terminated.
HOLD OVER: Resident shall remove all of resident’s property and deliver possession of house in a clean condition and good order and repair to owner upon termination or expiration of this agreement. The following removal/disposal fees will apply to all items left behind: There will be an additional fee of $15.00 per trash bag, as well as $35.00 per item for any item that owner cannot fit into a trash bag.
RIGHT OF ACCESS: Owner, or agent of owner, shall have the right of access to house, without notice for inspection and maintenance during reasonable hours. In case of an emergency, owner may enter at any time to prevent damage to the property.
USE: House shall be used for residential purposes only and shall be occupied only by the persons named in resident’s lease. House shall be used so as to comply with all state, county and municipal laws and ordinances. Resident shall not use house or permit it to be used for any disorderly or unlawful purpose or in any manner so as to interfere with other neighbors’ enjoyment of our neighborhood.
LANDSCAPING: No rocks shall be removed from the property. The rocks around the pond area are used to secure the pond liner. Replacement of rocks due to removal from the property will be the resident’s responsibility.
PROPERTY LOSS: Owner shall not be liable for damage to resident’s property of any type for any reason or cause whatsoever. Resident shall be responsible for obtaining fire, extended coverage and liability insurance with respect to house and contents. Initial ______________
PETS: No animals are allowed inside the home. Resident agrees to forfeit his/her $800.00 Cleaning and Rehab deposit if ower decides that there is pet damage at the end of the lease.
INDEMNIFICATION: Resident releases owner from liability for and agrees to indemnify owner against all losses incurred by owner as a result of (a) resident’s failure to fulfill and condition of this agreement; (b) any damage or injury happening in or about house or premises to resident’s invitees or licensees or such person’s property; (c) resident’s failure to comply with any requirements imposed by any governmental authority; and (d) any judgment, lien, or other encumbrance filed against house as a result of resident’s actions.
FAILURE OF MANAGEMENT TO ACT: Failure of owner to insist upon strict compliance with the terms of this agreement shall not constitute a waiver of owner’s rights to act on any violation.
REMEDIES CUMULATIVE: All remedies under this agreement or by law or equity shall be cumulative. If a suit for any breach of this agreement establishes a breach by resident, resident shall pay owner all expenses incurred in connection therewith.
NOTICES: Any notice required by this agreement shall be in writing and shall be deemed to be given if delivered personally or mailed by registered or certified mail.
REPAIRS: Resident accepts house in “as is” condition as suited for the use intended. Resident understands and agrees that the house, equipment and fixtures will be under the control of resident and agrees to keep said house together with the fixtures therein, in a clean, sightly and sanitary condition. Owner will make necessary repairs to house with reasonable promptness after receiving of notice from resident. If any damage, beyond normal wear and tear, is caused by resident or his/her guest, resident agrees to pay owner the cost of repair with the next rent payment. Resident may not remodel or structurally change the house, nor remove any fixture therefrom.
ABANDONMENT: If resident removes or attempts to remove property from the premises other than in the usual course of continuing occupancy, without having first paid owner all monies due, house may be considered abandoned, and owner shall have the right, without notice, to store or dispose of any property left on the premises by resident. Owner shall also have the right to store or dispose of resident’s property remaining on the premises after the termination of this agreement. Any such property shall be considered owner’s property and title thereto shall vest in owner.
SMOKE DETECTORS: It shall be the resident’s duty to regularly test the smoke detector(s) and agree to notify owner immediately in writing of an problem, defect, malfunction or failure of the smoke detector(s). It shall be the resident’s responsibility to replace the battery. The resident shall acknowledge and agree that owner is not the operator, manufacturer, distributor, retailer or supplier of the smoke detector(s). ______ (Initial) Resident shall assume full and complete responsibility for all risk and hazards attributable to, connected with or in anyway related to the operation, malfunction or failure of the smoke detector(s), regardless of whether such malfunction or failure is a attributable to, connected with, or in any way related to the use, operation manufacture, distribution, repair, servicing or installation of said smoke detectors.
MORTGAGEE’S RIGHTS: Resident’s rights under this lease shall at all times be automatically junior and subject to any deed to secure debt which is now or shall hereafter be placed on premises of which the house is a part; if requested, resident shall execute promptly any certificate that owner may request to specifically implement the subordination of this paragraph.
DEFAULT BY RESIDENT: Any breach or violation of any provision of this agreement by resident or any untrue or misleading information in resident’s rental information shall give owner the right to terminate this agreement or to take possession and hold resident liable for the remainder of the term.
LEASE TO OWN OPTION: Provided that resident is not in default or breach of this agreement, owner hereby grants resident the right to purchase the said property for $129,900.00. This option to buy expires with any default under the lease or no later than Dec 01, 2007. If and when resident makes settlement on said property, ower will credit the following amounts toward the purchase price of the property:
Of the $885.00 monthly payment, $200.00 per month will be credited to the purchase price for the first 12 months of rent. If resident renews rental agreement on Dec 01, 2007, $150.00 per month will be credited to the purchase price for the 2nd 12 months of rent, unless settlement occurs on or before 12/01/07. This is in addition to the resident’s deposit of $800.00, which will also be credited to purchase at settlement.
__________initials
RULES & REGULATIONS:
(a). LOCKS: Resident is prohibited from adding locks to, changing or in any way altering locks installed on the doors of the house, without the written consent of owner.
(b). LAWN: Yard maintence will be the responsibility of the resident.
(c). ANTENNAS: Radio or television aerials shall not be placed or erected on the roof or exterior of the house.
(d). STORAGE: Resident may use the wooden storage building located inside of the fence in the back yard and the metal white building for storage. No goods or materials of any kind or description, which are combustible or would increase fire risk shall be taken or placed in storage area. Storage areas shall be at resident’s risk and owner shall not be responsible for any loss or damage.
(e). WALLS AND CEILINGS: Any and all paint choices must be approved by owner.
(f). GUESTS: Resident shall be responsible and liable for the conduct of his/her guests. Acts of guests in violation of this agreement or owner’s rules and regulations may be deemed by owner to be a breach by resident.
(g). WATER BEDS: Resident shall not have or keep any waterbeds in house without prior written permission from owner.
(h). FENCE: Do not remove fencing.
ENTIRE AGREEMENT: This agreement and any attached addendum constitute the entire agreement between the parties and no oral statements shall be binding.
INSTALLATION OF GARAGE DOORS: If garage doors are installed, and tenant relocates, the garage doors must remain intact. Installation of garage doors will not affect the deposit or rent payment. All maintenance and costs for installed garage doors will be the responsibility of the tenant.
IN WITNESS WHEREOF, the parties hereto have caused these presents to be signed in person or by a person duly authorized, the day and year first above written.
________________________ _________
Sarah L. Dailey (Management) DATE
________________________ __________ _________________________ ________
Resident DATE Resident DATE
() Sarah L. Dailey 423-572-2636
Sink and tub drains can be kept clog free by using Liquid Plumber at least once a month!
Please change air filter every 3 months!!