RENTAL CONTRACT

Rental Contract 1 Hedges Manangement 604 Prescott Drive, Suite 201 Lawrence, KS 66049 Ph: (785) 865-1320 Mo. (785) 226-2832 www.LeasingLawrence.com RENTAL CONTRACT LANDLORD: Owner of the property – see addendum to lease LESSEE(S):________________________________________________________________________ _________________________________________________________________________ CONTRACTED PREMISES: #________, located at_________________________________________ _____________________________, to be used and occupied by said Lessee as a residence, and for no other purpose for the term of this contract. CONTRACT: This contract shall be for a minimum period of _____________, 20_____, 9:00 am to _____________________,20_______, no later than 3:00pm. It is expressly understood that this contract is for the entire term set forth above, and the fact that Lessee should no longer be a resident of the community in which the Premises’ are located, should be transferred, should cease to be actively enrolled in a college in this community, or for any other reason be unable to continue in the unit, Lessee’s responsibility shall nonetheless continue for the full term hereof. Lessee understands and acknowledges that Landlord would suffer damages if this contract is breached prior to the expiration of the term provided for, including clean-up cost, re-rental commissions, and advertising costs. Therefore, the parties agree that if this contract is breached prior to the expiration date, Landlord shall be entitled to retain the security deposit as liquidates damages. However, Lessee’s liability is not limited to the amount of the security deposit, but will include all unpaid installments of the contract until re-rented and all damages to the Premises in excess of the security deposits. In the event said Premises are part of new construction, Lessee acknowledges and accepts the potential risk of delay in possession due to factors beyond Landlord’s control. If Landlord is unable, for this or any other reason to deliver possession of the Premises at the beginning date of this contract, Landlord shall not be liable for any damages caused thereby, nor shall this agreement be void or voidable, but Lessee shall not be liable for any rent until possession is delivered. Lessee may only terminate this agreement if possession is not made available thirty (30) days of the beginning date of this contract. Lessee, in consideration of the covenants and agreements made herein by Landlord, leases said premises and does hereby promise to pay the sum of _______________________________ dollars ($___________), payable in _____monthly installments of $________________each month with payment to be made on the first of each month. The first payment shall be _______________________,20____. All payments to be made to Landlord in care of _______________________. Allow time for mail service. In the event the entire rent is not received, for whatever reason by 5:00pm on the fifth (5th) day of any month, a $30.00 late fee will be assessed. If not paid in full by the tenth (10th) of any month, an additional late fee of $10.00 per day will be charged. In the event of an insufficient funds check being tendered, an additional fee of $30.00 plus all application fees shall apply. A 10% carry-over fee shall be charged on all outstanding balances not paid on or before the last day of each month. Rental Contract 2 UTILITIES: Lessee agrees to pay for all utilities not provided for by Landlord. Utilities shall be in Lessee’s name on the date lease begins and remain in Lessee’s name until lease expiration. If in the event any utility not provided by Landlord rolls over into Landlord’s name, an additional fee of $30.00 will be assessed on each utility bill. Landlord shall pay _______. Lessee shall pay ________. CONDITIONS OF LEASE: 1. SECURITY DEPOSIT: A security deposit of _________________dollars ($_________) collected from Lessee shall be held by the Landlord as security against loss from damage, nonpayment of rent, or any other breach of this contract by Lessee and shall be refunded to Lessee within thirty (30) days after the expiration of this contract, provided that, upon inspection, the Premises are found to be in as good condition as that at the beginning of the contract, normal wear and tear expected; and provided that the covenants and agreements, and conditions on the part of the Lessee have been complied with entirely. The Lessee must follow proper checkout procedures and agrees to provide Landlord with a forwarding address. The security deposit is not any part of the rent herein reserved and consequently cannot be applied to the final months rent. A penalty of one and one half times the security deposit will be assessed if Lessee applies the security deposit toward the last months rent. This security deposit shall be held without any duty to pay interest and shall be held in accordance with the laws of the state of Kansas. 2. SEVERALTY: In the event the Premises are rented to one or more individuals, each of the individuals shall be jointly and SEVERALLY LIABLE for the entire rent due and the performance of the terms and conditions of this rental contract. Each individual Lessee understands and acknowledges that there is joint and several responsibility with respect to the total leased Premises and, accordingly, must exercise responsibility to see that the entire unit is maintained in good order and repair and that the rental account is kept current. 3. CARE OF THE PREMISES: Lessee accepts the Premises in the present condition. Tenant agrees to complete the Check-in Inventory form at the time of moving in to note any defects therein. Lessee agrees to keep and maintain the Premises in good clean condition, and to make o alterations or additions thereon or therein without written consent of Landlord. The Lessee will pay for misuse to plumbing , windows, doors, walls, cabinets, flooring, or any other aspect of the Premises and repay the Landlord for the cost of all repairs made necessary by the neglect and careless use of said Premises. Landlord shall invoice Lessee for any charges, including a reasonable charge for management overhead, for labor and replacement costs of any damages items other than normal wear and tear. Lessee shall immediately report to Landlord and local police authority any act of vandals or burglars causing damage to the Premises. The Lessee agrees to promptly report any repairs to the property to the Landlord. No tenant-incurred expense shall be deducted from the monthly rent under any circumstances whatsoever. Lessee agrees to do the following: A. Keep the leased Premises, the grounds, decks, patios, and driveways as clean and safe as their condition permits; B. Remove from Premises all ashes, rubbish, garbage, and other waste in a clean and safe manner. Landlord will give one warning for trash disturbance. After that, a $100 fine will be charged to the tenants for each occurance. Rental Contract 3 C. Use all electrical plumbing, appliances, heating and air conditioning, and fixtures in a safe and reasonable manner; D. Be responsible for any destruction, defacement, damage, impairment, or removal of any part of the Premises caused by an act or omission of the Lessee or by any person or animal on the Premises at any time with the expressed of implied permission or consent of the Lessee; E. Not engage in conduct or allow any person or animal on the Premises with expressed or implied permission to engage in conduct that will disturb the quiet and peaceful enjoyment of the Premises of other Tenants; Landlord will give one warning for noise/peace disturbance. After that, a $100 fine will be charged to the tenants for each occurance. F. Not engage in conduct which is unlawful or allow any person with the expressed or implied permission to engage in conduct that is unlawful. In the event the Lessee or any invitee of the Lessee is convicted or diverted for a criminal offense occurring in or around Lessee’s leased Premises, Landlord shall have the right to terminate this rental contract immediately. Violation of this paragraph shall not only be a breach of the rental contract, but, in addition, Lessee agrees to reimburse Landlord for any damages Landlord suffers by reason of any such violations; G. Not bring pets on the Premises. Absolutely no birds, cats, dogs, or other animals will be allowed or shall be kept by the Lessee on the Premises, except as evidence by attached Pet Rider, if applicable. H. Lawn Care is the responsibility of the Tenant(s). The Landlord may undertake responsibility for lawn care and bill the tenant(s) for the expenses thereof, if the tenant fails to adequately maintain the yard after having been notified by the Landlord. I. Pest Control. Tenant acknowledges that the rental is free of pests at time of occupancy and will pay for a pest control service if desired or needed. 4. SUBLEASING: Lessee may not sublease nor assign this contract. If subleasing is required, Lessee will make written request to Landlord, giving all the facts as to why sublease is requested, and if approved, Lessee agrees to pay Landlord, in advance, $100.00 to cover administrative costs. Lessee acknowledges and agrees that Lessee is still obligated under this contract for rent and utilities until the expiration of this contract. 5. LEASE TERMINATION: Unless the Lessee, the Landlord, or the Landlord’s agent indicates his or its intention to terminate this rental contract in writing no less than 60 days (2 full months) prior to the end of the original term, the agreement will automatically renew, subject to same terms and conditioned, for twelve (12) months following the expiration date, and will renew on every anniversary date thereafter. This notice shall serve to excuse rental obligations for the period after departure, if executed in the manner prescribed above and if all other conditions of the contract have been satisfied. Rental Contract 4 6. NON-LIABILITY OF LANDLOR & RENTER’S INSURANCE: Lessee covenants that neither the Landlord nor its agents, employees, either, shall be liable for any damages or injury to the Lessee, Lessee’s guests or invitees, or to any person entering the Premises or building of which the Premises are part, nor to furniture, personal property, goods or chattels therein resulting from any accident or incident, resulting from circumstances beyond Landlord’s control. Except in the case of Landlords negligence and except in the case in which “good faith” effort is not made by the Landlord to remedy the situation, Lessee agrees to indemnify and save Landlord, its agents, and employees, harmless from claims of every kind and nature. Lessee agrees that Lessee has been advised by Landlord to secure renter’s insurance for Lessee’s personal property. In the event storage areas are available for Lessee’s property, Landlord shall not be liable for loss or damage to contents. 7. RIGHT OF ENTRY & INSPECTION: Landlord reserves the right at all times to enter the said Premises in case of emergency. Landlord reserves the right at all reasonable times, and upon reasonable notice to enter said Premises for making inspections, repairs, alterations, or improvements, to show the Premises for re-renting, to quiet disturbances, and to correct any breach or contract or Rules and Regulations. I the event Lessee notifies Landlord of necessary repairs, Landlord shall have the right to enter the Premises at reasonable hours for the purpose of making such repairs without further notification to Lessee. 8. DEFAULT: Upon the failure of the Lessee to make any payment of rent when it is due, or if the Lessee should breach any other covenants, agreements, or conditions herein contained, or if the Premises are abandoned, deserted, or vacated, then at the option of the Landlord or its agents, this contract may be terminates, and the Landlord may re-enter and repossess the said Premises and remove and evict each and every Lessee and occupant, in accordance with the Kansas Landlord Tenant Act and other law. In the event of re-entry by the Landlord, it is herein provided that Lessee shall be liable for damages to said Landlord for all loss sustained, to include the entire unpaid balance of rent for the term then remaining or any rent lost due to re-lease of the said Premises, and such re-entry shall not be deemed and acceptance by the Landlord or a surrender or otherwise constitute a release of Lessee. 9. RENT OBLIGATION: The parties agree that occupancy of the Premises for one or more days each month shall obligate the Lessee for a full month’s rent. There shall be no appointment of rent on a daily basis. Lessee understands that a failure to voluntarily return the Premises on a date no later than the date of the expiration of the contract would create a hardship on the Landlord. Therefore, Lessee agrees that occupancy of the Premises for one or more hours beyond the expiration date shall obligate the Lessee for a full additional month’s rent. 10. NOTIFICATION TO LANDLORD: Lessee shall notify Landlord of any absence from the Premises more than seven (7) days. The Lessee shall notify Landlord or Landlord’s agent promptly of any damage to the Premises or common areas caused by Lessee or Lessee’s invitees, family, or pets, or any other damage which Lessee has knowledge. No oral agreements or representations by the Landlord or its agents, or the Lessee shall be binding on either party. Rental Contract 5 11. ABANDONED PROPERTY: Any property of the Lessee remaining on the Premises, in any general storage space, or otherwise in or about the building of which the Premises are a part after the termination hereof shall be deemed to be abandoned by the Lessee, and the Landlord may remove and dispose of such property without any liability to Landlord therefore, and said property so abandoned shall be and become the property of the Landlord. 12. RULES AND REGULATIONS: The Lessee shall be bound by the Rules and Regulations attached hereto and incorporated herein. Landlord reserves the right to make reasonable changes to said Rules and Regulations as requires for the proper and orderly care, operation, and maintenance of the Premises, buildings, and appurtenances. Upon notice to Lessee, such changes shall become part of this contract. Failure of Lessee, Lessee’s guests or invitees to comply with and observe the Rules and Regulations shall become constitute a breach of this contract. 13. PARENTAL OR SPONSOR’S GUARANTY: It is understood that this Complex will have numerous Leases to college age students and that Landlord requires as a condition of the duties of the Lessee under this contract that a binding parental or sponsor’s guaranty be executed. Landlord shall have the option to cancel the rental contract in the event that this guaranty is not timely provided. Lessee understands that such guaranty must be obtained directly from the parent or sponsor. Lessee agrees to be fully bound by the terms and conditions hereof irrespective of the age or condition of Lessee and the executed of a guaranty shall be an additional insurance to Landlord of the performance of this contract and not in substitution of Lessee’s responsibility. In the event any provision of this agreement shall be held invalid, such provisions shall be deemed severable and the remaining provisions hereof shall remain in full force and effect. ACKNOWLEDGEMENT: LESSEE HEREBY ACKNOWLEDGES HAVING READ THIS AGREEMENT AND THE RULES AND REGULATIONS. TENANT AFFIRMS THAT TENANT WILL, IN ALL RESPECTS COMPLY WITH THE TERMS AND PROVISIONS OF THIS AGREEMENT. LESSEE ACKNOWLEDGES THAT THIS CONTRACT IS INTENDED TO BE LEGALLY ENFORCEABLE AGAINST LESSEE AND ANY GUARANTOR IN ACCORDANCE WITH ITS TERMS AND CONDITIOND. THIS IS A LEGAL DOCUMENT. DO NOT SIGN THIS DOCUMENT UNLESS YOU HAVE READ IT AND UNDERSTAND IT. IN WITNESS HEREOF, the parties have executed this agreement on this, the ______day of ____________, 20_____. By:___________________________________ Landlord Lessee(s) _____________________________________ _____________________________________ _____________________________________ _____________________________________