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This is an agreement that establishes a lease between a seller and a purchaser of property. The purchaser has recently bought the property from the seller under a separate agreement that can be attached under “Schedule A.” However, the seller wishes to remain on the property and lease it from the purchaser. This document can be used to specify the terms and conditions of the lease between the purchaser and seller that will allow the seller to remain on the property as a tenant. This agreement can be used by individuals or entities pursuant to a sale of property when the seller wants to remain on the property as a tenant of the purchaser.
This is an agreement that establishes a lease between a seller and a purchaser of property. The purchaser has recently bought the property from the seller under a separate agreement that can be attached under “Schedule A.” However, the seller wishes to remain on the property and lease it from the purchaser. This document can be used to specify the terms and conditions of the lease between the purchaser and seller that will allow the seller to remain on the property as a tenant. This agreement can be used by individuals or entities pursuant to a sale of property when the seller wants to remain on the property as a tenant of the purchaser. TEMPORARY RESIDENTIAL LEASE (OCCUPIED BY SELLER) THIS INDENTURE made in duplicate as of the ____ day of ___________, 2___. BETWEEN: _____, [Instruction: Insert Landlord’s name.] (hereinafter called the “Landlord”), OF THE FIRST PART, - and - _____, [Instruction: Insert Tenant’s name.] (hereinafter called the “Tenant”), OF THE SECOND PART. WITNESS that in consideration of the rents, covenants and agreements hereinafter reserved and contained on the part of the Landlord, his heirs, executors, administrators, successors and assigns to be paid, observed and performed, the Tenant hereby leases unto the Landlord, his heirs, executors, administrators, successors and assigns for use and occupation as residential premises and for no other purpose, all those certain premises known municipally as _________________________ (hereinafter called the “Premises”) upon the following terms and conditions: 1.00 The Tenant hereby leases to the Landlord the Property municipally known as ____________________ (the “Property”) and more particularly described in the Agreement of Purchase and Sale made between the Tenant as Vendor and the Landlord as Purchaser, a copy of which is annexed hereto as Schedule “A”. 2.00 To have and to hold the Premises for and during the term of __________ (___) days/weeks/months/years commencing on the ___ day of _________, 2____ and ending on the _____ day of ___________, 2_____ (hereinafter called the “Term”). 3.00 Yielding and paying therefore unto the Tenant during the said Term the sum of _______________ ($________) Dollars in lawful money of _____________ per day. Upon execution of this Lease Agreement, the Landlord shall pay to the Tenant the full amount of the rent due for the Term of this Lease Agreement to be paid by the Landlord to the Tenant by way of cash, check, bank draft, wire transfer or money order. In the event the Term of this Lease Agreement differs from the anticipated Term, the rent payable by the Landlord to the Tenant shall be prorated and shall be paid on the closing date pursuant to the anticipated closing date contained in the Agreement of Purchase and Sale. 4.00 Upon execution of this Lease Agreement by the Landlord and the Tenant, the Landlord shall pay to the Tenant in addition to the entire amount of rent payable, a security deposit in the amount of ____________ ($_________) Dollars to secure the performance of all of the obligations of the Landlord contained herein. In the event this Lease Agreement is terminated before the closing date contemplated in the Agreement of Purchase and Sale, the Tenant shall have the right to apply the entire amount of the security deposit for the purposes of satisfying the Landlord’s obligations contained herein. The Tenant shall have the right to receive from the Landlord within _____ (__) of delivering vacant possession of the Property, any unused amount of the security deposit. In the event this Lease Agreement is terminated due to the closing of the sale contemplated by the Agreement of Purchase and Sale, any unused amount of the security deposit by the Tenant shall be refunded to the Landlord on the closing date. 5.00 The Landlord and the Tenant mutually covenant and agree that whenever in this lease notice is required to be given by either the Landlord or the Tenant to the other, the same shall be in writing and, except as otherwise provided, be deemed to be sufficiently given if mailed postage prepaid and registered mail to the Landlord at the Premises and notice to the Tenant shall be addressed to ________________. Notice so given shall be deemed to have been received by the addressee on the fourth postal delivery day following the date on which it is so mailed. 6.00 The Landlord covenants and agrees that it shall be his sole responsibility to pay for all heat, hydro, water gas, cable and telephone charges required for the Property and the Landlord further covenants and agrees to hold the Purchaser harmless for all accounts aforesaid including arrears and penalties thereof. 7.00 The Landlord covenants and agrees that he/she will not at any time during the Term, use, or permit the use of the Property for any business or for any purpose other than as his/her own residential Premises and will not permit a nuisance to occur with respect to the use of the Premises. 8.00 The Landlord covenants and agrees not to assign or sublet this Lease Agreement. 9.00 The Landlord covenants with the Tenant for quiet enjoyment. 10.00 The Tenant shall permit the Landlord to keep/not permit the Landlord to keep pets on the Property. 11.00 The Landlord covenants and agrees that he/she shall promptly notify the Purchaser of any repairs required to be made by the Tenant and, subject to the applicable provisions of the laws of the governing jurisdiction, the Tenant shall be permitted to enter the Property for the purposes of viewing and making any such necessary repairs. The Tenant shall be permitted a reasonable time within which to make any such repairs that are necessary. 12.00 The Landlord covenants and agrees that the Tenant is not in any event whatsoever liable or responsible in any way howsoever caused for: (a) any personal injury or death that may be sustained by the Landlord, members of his/her family, his/her guests, visitors and invitees or any other person who may be upon the Property; (b) any loss or theft of or damage or injury to any property, including motor vehicles and the contents thereof, which may be in or about the Property; without limiting the generality of the foregoing, such damage shall include any damage caused to any property situate in or about the Property from gas, water, steam, water works, rain or snow which may issue or flow from any part of the Property or the Landlord's property or from the pipes or plumbing works of the same or from any other place or quarter; (c) any damage caused by or attributable to the condition or arrangement of any electrical or other wiring; (d) any damage caused by anything done or omitted to be done by the Tenant; or (e) any loss or spoilage of food on account of the failure or impairment of the electrical system, and the Landlord hereby releases and forever discharges the Tenant, his successors and assigns, from all and any actions, claims and demands for damages, including exemplary or punitive damages, loss or injury, however arising, which may hereafter be sustained by the Landlord or his/her personal property. 13.00 The Landlord covenants and agrees that he shall not do, nor permit anything to be done, in the said Property or bring or keep anything therein which will in any way increase the risk of fire or the rate of fire insurance on the Property or conflict with any of the rules and ordinances of the Board of Health or with any statute or municipal by-law. The Landlord shall take out and keep in force during the said Term, or any extension or renewal thereof, insurance upon his contents and property damage and public liability insurance in an amount equal to or greater than One Million ($1,000,000.00) Dollars and shall provide proof thereof to the Tenant if requested. 14.00 The Landlord covenants and agrees that he/she shall be liable for any damage done by reason of water left running from the taps in the Property or from gas permitted to escape therein. The Landlord further covenants and agrees that the water closets and other water apparatus shall not be used for any purpose other than those for which they were constructed and no sweepings, garbage, rubbish, ashes or other substances shall be thrown therein. Any damage resulting to them from misuse or from unusual or unreasonable use shall be borne by the Landlord. The Landlord further covenants and agrees that he/she shall be liable for any misuse of the heating, plumbing or electrical systems situate in or on the Property. 15.00 The Landlord and the Tenant covenant and agree that neither of them shall, during the occupancy of the Property by the Landlord, alter or cause to be altered the locking system of any door giving entry to the Property except by mutual consent. Altering the locking system includes the installation of additional locks to any door giving entry to the Property. 16.00 The Landlord covenants and agrees that he/she will not make or cause to be made any alterations, additions or improvements or install or cause to be installed any fixtures without the prior written consent of the Tenant, and any addition or improvement made or fixtures installed with the prior written consent of the Tenant shall be of first class quality, installed at the sole expense of the Landlord and become the property of the Tenant as part of the reversion upon termination of this Lease Agreement. 17.00 The Landlord covenants with the Tenant that the Tenant will pay all taxes which during the herein said Term may be charged upon the Property. 18.00 This Lease Agreement shall be construed and governed by the laws of the State of _______________. 19.00 Should any provision or provisions of the Lease Agreement and/or its conditions be illegal or not enforceable, it or they shall be considered separate and severable from the Lease Agreement and its remaining provisions an conditions shall remain in force and be binding upon the parties hereto as though the said provision or provisions or conditions had never been included. 20.00 Whenever throughout these presents there is any mention of or references to the Landlord or the Tenant, such mention or reference shall be deemed to extend to and include the heirs, executors, administrators, successors and assigns of the Landlord and of the Tenant and sub-Tenants of the Tenant as the case may be, and if the Landlord or the Tenant shall be a female or if there be more than one Landlord or Tenant, the pronouns used throughout shall be taken to be altered accordingly. IN WITNESS WHEREOF the said parties hereto have hereunto set their hands and seals as of the date first here above written. SIGNED, SEALED AND DELIVERED ) in the presence of ) ) ) ) Witness: ) Landlord ) ) ) Witness: ) Tenant SCHEDULE “A” AGREEMENT OF PURCHASE AND SALE
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