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Lease of Condominium Unit
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					                                 Lease of Condominium Unit

         Lease Agreement made on the (date), between (Name of Lessee) of (street address,
city, state, zip code), referred to herein as Lessee, and (Name of Lessor), a corporation
organized and existing under the laws of the state of (name of state), with its principal office
located at (street address, city, state, zip code), referred to herein as Lessor.

I.      Premises Leased
        Lessor hereby leases to Lessee Unit No. _____, hereinafter called the Unit, in (Name of
Condominium), hereinafter called the Condominium, a Condominium located 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 [e.g., County Recorder’s Office of (Name of
County and State)] Official Records, at Page (number). The Unit is also designated in the floor
plans of the Building, attached to the Declaration as Exhibit A. Lessor also hereby leases to
Lessee items of personal property, now located in the Unit, described in Exhibit B attached
hereto and made a part hereof. No other personal property will be furnished by Lessor.

II.     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. The Unit and the rights appurtenant to the Unit are hereinafter
called the Premises.

III.    Occupancy. The Unit is leased for occupancy as a private dwelling to Lessee 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 the written consent of Lessor to such use.

IV.    Holding Over.
       A.     The term of the Lease shall commence on (date), 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.

       B.      The failure of Lessee to surrender the 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 _____ 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.

V.     Rent and Assessments
       A.     During the term of this Lease, Lessee shall be liable for rent and assessments,
       such assessments to be determined by the Governing Board of the Condominium,
       hereinafter 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 _______ day of each month. The sum of $__________, 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., 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). The percentage of _____% of the
      amount of each assessment will be payable by Lessee in advance to the Governing
      Board on the _____ day of each month. The sum of $_________, representing the
      assessment against the Unit for the first month or part of month of occupancy, is payable
      by check to the order of (Name of Association of Owners) on execution of this Lease.

VI.   Covenants of Lessee
      A.     Payment of Rent. Lessee agrees to pay the rent without any deduction and
      without notice or 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 terms].

      E.     Liability 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 maintain comprehensive liability insurance as follows: (state terms of liability
      insurance).

      F.     Repair and Maintenance. Lessee agrees at Lessee's own expense to maintain
      the Unit in good repair, and at the proportionate share of the expense as a member of
      the Association of Owners, to maintain the common areas in good repair.

      G.       Lawful use of Premises. Lessee agrees on Lessee's own behalf to keep the
      Unit, and as a member of the Association of Owners to keep all common areas in a
      strictly decent, safe, and sanitary condition, to observe all municipal, state, and federal
      laws, ordinances, rules, and regulations, and to abide by the Declaration, Bylaws, and
      Rules and Regulations of the Condominium, and any agreements or decisions made
      pursuant to the same by the Association.
       H.     Inspection of Premises. Lessee agrees to permit Lessor and its agents to enter
       the Unit or any of the common areas for inspection purposes at all reasonable times.
       Lessee further agrees at Lessee's own expense with respect to the Unit, and at the
       proportionate share of the expense with respect to the common areas, to repair and
       remedy all defects within (number) days after having received notice of the defects from
				
DOCUMENT INFO
Description: A condominium is a combination of co-ownership and individual ownership. Those who own an apartment house or buy a condominium are co-owners of the land and of the halls, lobby, and other common areas, but each apartment in the building is individually owned by its occupant. In some States, the owners of the various units in the condominium have equal voice in the management and share an equal part of the expenses. In other States, control and liability for expenses are shared by a unit owner in the same ratio as the value of the unit bears to the value of the entire condominium project. The bigger condominium owners would have more say-so than the smaller condominium owners.
PARTNER William Glover
I received my B.B.A. from the University of Mississippi in 1973 and my J.D. from the University of Mississippi School of Law in 1976. I joined the firm of Wells Marble & Hurst in May 1976 as an Associate and became a Partner in 1979. While at Wells, I supervised all major real estate commercial loan transactions as well as major employment law cases. My practice also involved estate administration and general commercial law. I joined the faculty of Belhaven College, in Jackson, MS, in 1996 as Assistant Professor of Business Administration and College Attorney. While at Belhaven I taught Business Law and Business Ethics in the BBA and MBA programs; Judicial Process and Constitutional Law History for Political Science Department); and Sports Law for the Department of Sports Administration. I am now on the staff of US Legal Forms, Inc., and drafts forms, legal digests, and legal summaries. I am a LTC and was Staff Judge Advocate for the Mississippi State Guard from 2004-2008. I now serve as the Commanding Officer of the 220th MP BN at Camp McCain near Grenada, MS. I served on active duty during Hurricanes Dennis (July, 2005), Katrina (August, 2005) and Gustav in 2008. I played football at the University of Mississippi in 1969-1971 under Coach John Vaught. I am the author of the Sports Law Book (For Coaches and Administrators) and the Sports Law Handbook for Coaches and Administrators (with Legal Forms),