RESIDENTIAL LEASE AGREEMENT
KEY PROVISIONS SUMMARY
THIS IS A SUMMARY OF SOME OF THE BASIC LEASE TERMS OF THE RESIDENTIAL LEASE AGREEMENT TO WHICH IT IS ATTACHED (“Key Provisions Summary”). IT IS NOT A SUBSTITUTE FOR THE ACTUAL LEASE PROVISIONS, WHICH WILL CONTROL IF THERE ARE ANY CONFLICTS. Resident: [FIELD 5.1-5.6]
Premises: [FIELD 1]
NRTP LEASE-2022 Page i
I. LEASE DETAILS:
a. Address of Premises: [FIELD 1]
b. Owner: [FIELD 2], [FIELD 2.1]
c. Owner Notice Address: [FIELD 2]
[FIELD 3]
d. Property Manager: [FIELD 3.1]
e. Property Manager Notice Address and
Telephone Number:
[FIELD 60.1]
[FIELD 60.12]
Emergency Contact Telephone: [FIELD 60]
f. Address for Payment of Rent and
Telephone Number:
[FIELD 4]
[FIELD 4.1]
See also the Portal in Additional Lease Definitions g. Resident Names: [FIELD 5.1]
[FIELD 5.2]
[FIELD 5.3]
[FIELD 5.4]
[FIELD 5.5]
[FIELD 5.6]
h. Occupant Names (other than Resident):
[FIELD 6.1]
[FIELD 6.2]
[FIELD 6.3]
[FIELD 6.4]
[FIELD 6.5]
[FIELD 6.6]
i. Resident Notice Recipient:
[FIELD 7]
RESIDENTIAL LEASE AGREEMENT
KEY PROVISIONS SUMMARY
THIS IS A SUMMARY OF SOME OF THE BASIC LEASE TERMS OF THE RESIDENTIAL LEASE AGREEMENT TO WHICH IT IS ATTACHED (“Key Provisions Summary”). IT IS NOT A SUBSTITUTE FOR THE ACTUAL LEASE PROVISIONS, WHICH WILL CONTROL IF THERE ARE ANY CONFLICTS. Resident: [FIELD 5.1-5.6]
Premises: [FIELD 1]
NRTP LEASE-2022 Page ii
j. Resident Notice Recipient Address: [FIELD 1]
Email Address: [FIELD 8.1]
With a courtesy copy to:
[FIELD 8.2]
k. Use of Premises: Residential Only
l. Service of Process Address or in-State
notice address:
See State Addendum, if applicable; otherwise, not applicable II. TERM OF LEASE:
a. Commencement Date: [FIELD 9] (See also Section 9 of Lease) b. Expiration Date: [FIELD 10] (See also Section 4 of Lease) PLEASE NOTE THAT NOTWITHSTANDING THE EXPIRATION DATE SET FORTH IN PARAGRAPH II.b, RESIDENT MUST GIVE OWNER A NOTICE OF NON-RENEWAL IN ORDER TO TERMINATE THE LEASE AT THE END OF THE THEN-SCHEDULED TERM. IF RESIDENT DOES NOT GIVE OWNER A PROPER AND TIMELY NOTICE OF NON-RENEWAL, THE TERM OF THE LEASE SHALL AUTOMATICALLY BE EXTENDED AT INCREASED MONTHLY BASE RENT. SEE SECTION 5 OF THE LEASE, AMONG OTHER SECTIONS. RESIDENT TO INITIAL:
[FIELD 11.1]
[FIELD 11.4]
[FIELD 11.2]
[FIELD 11.5]
[FIELD 11.3]
[FIELD 11.6]
III. SPECIFIC DETAILS OF THE PREMISES: (check all that apply – see also Owner’s Rules and Regulations) Detail: Applicable as of Effective Date if box is checked a. Premises is located within an HOA: [FIELD 73] b. Pool/Spa Facilities are located at
Premises:
[FIELD 74]
c. Premises is served by Septic System: [FIELD 75] d. Third-Party Landscape Service IS
required (together with payment of
Landscape Service Fee):
[FIELD 76]
RESIDENTIAL LEASE AGREEMENT
KEY PROVISIONS SUMMARY
THIS IS A SUMMARY OF SOME OF THE BASIC LEASE TERMS OF THE RESIDENTIAL LEASE AGREEMENT TO WHICH IT IS ATTACHED (“Key Provisions Summary”). IT IS NOT A SUBSTITUTE FOR THE ACTUAL LEASE PROVISIONS, WHICH WILL CONTROL IF THERE ARE ANY CONFLICTS. Resident: [FIELD 5.1-5.6]
Premises: [FIELD 1]
NRTP LEASE-2022 Page iii
IV. HOA INFORMATION:
If listed below or the box in Paragraph III.a above is checked, the Premises is located within a community with one or more homeowners associations (individually and collectively, “HOA”). Each Resident, Occupant, and their respective guests and invitees are required to comply with the terms of any covenants, conditions and restrictions (“CC&Rs”) and any other rules and regulations of such HOA (collectively with the CC&Rs, as they now exist or may hereafter be adopted, modified or amended by any HOA, the “HOA Rules”).
Name and contact information of HOA, if any: [FIELD 12.1]
[FIELD 12.2]
V. RENT AND LATE CHARGES:
a. Monthly Base Rent: [FIELD 62] per calendar month during the Term, subject to increase in accordance with the terms of the Lease:
b. Additional Rent: See Subsection 2.B of the Lease c. Pet Rent: See VIII.c below
d. Pool/Spa Facility Rent: [FIELD 14] (subject to Pool/Spa Addendum), if applicable e. Rent Due Date: [FIELD 118]
f. Returned Payment Fee: [FIELD 15]
g. Late Payment Fee: [FIELD 16]
h. Privilege/Use Tax, as applicable: See IX.b below and Subsection 2.I of the Lease VI. FEES:
a. Compliance Administrative Fee: [FIELD 17] per occurrence b. Compliance Charge: [FIELD 18]
c. HVAC Air Filter Program Fee: [FIELD 70]
d. Key Administrative Fee: [FIELD 20] per occurrence e. Key Fee: The amounts specified for the applicable “Key Fee” in the Additional Lease Definitions
f. Landscape Service Fee: [FIELD 21] per month
g. No-Show Fee (Leasing): [FIELD 71]
h. Notice Retraction Fee: [FIELD 28.2] per occurrence i. RLWP Fee: [FIELD 22] per month, if applicable (see Required Insurance Addendum)
j. Service Call Administrative Fee: [FIELD 23] per occurrence RESIDENTIAL LEASE AGREEMENT
KEY PROVISIONS SUMMARY
THIS IS A SUMMARY OF SOME OF THE BASIC LEASE TERMS OF THE RESIDENTIAL LEASE AGREEMENT TO WHICH IT IS ATTACHED (“Key Provisions Summary”). IT IS NOT A SUBSTITUTE FOR THE ACTUAL LEASE PROVISIONS, WHICH WILL CONTROL IF THERE ARE ANY CONFLICTS. Resident: [FIELD 5.1-5.6]
Premises: [FIELD 1]
NRTP LEASE-2022 Page iv
k. Service Call Charge: [FIELD 24]
l. Trip Fee (Missed Service Call): [FIELD 25] per occurrence m. Utility Billing Service Fee: [FIELD 26] per month (not prorated for partial months) n. Utility One-Time Fee: [FIELD 27]
o. Utility Failure to Transfer Service Fee: [FIELD 28] per month (not prorated for partial months) p. [Other]: [FIELD 28.1]
VII. DEPOSITS:
a. Security Deposit: [FIELD 29]
b. Pet Deposit (if applicable): See VIII.d
VIII. PETS: (see also Pet Addendum)
a. Number of Pets as of Commencement
Date:
[FIELD 33]
b. Pet Fee (if applicable): [FIELD 34]
c. Pet Rent (if applicable): [FIELD 35]
d. Pet Deposit (if applicable): [FIELD 37]
IX. MOVE-IN PAYMENT AMOUNT: The following amounts shall be due on before the time periods contained in Subsection 3.A of the Lease and have been calculated based upon Commencement Date of [FIELD 9]. a. Pro-Rated Rent: [FIELD 13]
b. Monthly Base Rent [FIELD 124]
c. Privilege/Use Tax: [FIELD 38]
d. Pet Rent: [FIELD 35]
e. Pet Deposit: [FIELD 37]
f. Pet Fee: [FIELD 34]
g. Landscape Service Fee: [FIELD 21]
h. Utility One-Time Fee: [FIELD 27]
i. Other [FIELD 39.1]
TOTAL: [FIELD 40]
[RESIDENTIAL LEASE AGREEMENT ON FOLLOWING PAGES]
Resident: [FIELD 5.1-5.6]
Premises: [FIELD 1]
NRTP LEASE-2022 Page 1
RESIDENTIAL LEASE AGREEMENT
This Residential Lease Agreement is made and entered into effective as of the Effective Date by and among the Resident(s) identified on the signature page hereof (individually, or if more than one person is named, collectively, “Resident”) and the Owner identified on the signature page hereof (“Owner”). Owner desires to lease the Premises to Resident and Resident desires to lease the Premises from Owner, upon the terms and conditions contained herein.
NOW, THEREFORE, for and in consideration of the mutual covenants and obligations stated herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto hereby agree that the recitals set forth above are incorporated into this Lease as though fully set forth below, Owner and Resident agree as follows: 1. LEASE. Owner and Resident agree that Resident will lease the Premises from Owner pursuant to the terms and conditions contained in this Residential Lease Agreement together with, without limitation: the Key Provisions Summary, the State Addendum, Owner’s Rules and Regulations and all other addenda and attachments attached hereto or otherwise incorporated by reference herein (collectively, the “Lease”). Capitalized terms used in this Lease shall have the meaning ascribed thereto in this Lease, the Key Provisions Summary, the Additional Lease Definitions, Owner’s Rules and Regulations and all addenda and attachments to this Lease (“Lease Definitions”). References in the body of this Lease to a portion of the Key Provisions Summary shall be deemed and construed to incorporate all of the terms provided under each such referenced portion of the Key Provisions Summary. References in the Key Provisions Summary to a portion of the body of this Lease shall be deemed and construed to incorporate all of the terms provided under each such referenced portion of the body of this Lease. Notwithstanding the foregoing, any inconsistency between the Key Provisions Summary and another portion of this Lease shall be resolved in accordance with Subsection 31.Q below. 2. RENT; FEES; LATE CHARGES. Resident agrees to pay Owner all Rent, in advance, and without demand, on or before 11:59 p.m. on the Rent Due Date during the Term. A. Monthly Base Rent. The Monthly Base Rent shall be due and payable by Resident to Owner in advance on each Rent Due Date for the entire Term of this Lease; provided, however, if the Commencement Date occurs on or after the 25th day of a calendar month, then the Monthly Base Rent payable for the first full calendar month of the Term shall be due and payable no later than 72 hours prior to the scheduled Commencement Date. Monthly Base Rent shall be subject to increase in accordance with this Lease.
B. Additional Rent. In addition to Monthly Base Rent that is due, Resident shall pay Owner all Additional Rent that is due at the same time as the Monthly Base Rent (for example, any Additional Rent charge shall be due and payable on the next Rent Due Date unless a different date is specified). Unless a different time for payment is indicated in the Lease, Additional Rent shall be due and payable with the next Monthly Rent Payment. “Additional Rent” means:
(i) all expenses that Owner may incur or suffer by reason of any default of Resident of any terms of this Lease including, without limitation, any and all costs associated with re-letting the Premises, the cost of repairing any damage caused by the Resident or any Occupants or their invitees;
(ii) reasonable attorneys’ fees, costs and expenses incurred in connection with collections or enforcement of Owner’s Rights and Remedies (to the extent permitted by Applicable Law);
(iii) all charges permitted by this Lease and Applicable Laws, including without limitation all charges identified as Fees in this Lease and all repair, maintenance and other costs for which Resident is responsible under this Lease;
(iv) any and all amounts paid on behalf of Resident by Owner pursuant to this Lease, including without limitation any insurance coverage, utilities and services;
(v) any charges, fees or fines imposed by the HOA (excluding HOA Monthly Dues) resulting from violations of HOA Rules or separate amenities requested by Resident (e.g., swimming pool or Resident: [FIELD 5.1-5.6]
Premises: [FIELD 1]
NRTP LEASE-2022 Page 2
health club access, if applicable) or resulting from any Periodic Tenancy or holdover of the Premises, together with municipal violation charges and associated administrative fees as set forth in Section 6;
(vi) Compliance Charges and Compliance Administrative Fees; and
(vii) any and all other sums (exclusive of Monthly Base Rent and Pro-Rated Rent) that are required to be paid to Owner by Resident hereunder or which sums are deemed to be Additional Rent under this Lease.
C. Rent Payment Terms. Resident shall pay all Rent to Owner (i) online using the Portal or website or pursuant to an online rent payment system designated by Owner or (ii) by personal check, cashier’s check, money order, or electronic funds transfer at the Address for Payment of Rent (or such other address as Owner may designate in writing), provided that such payment shall be subject to the Owner’s Rules and Regulations which contain further detail regarding such payments. Owner reserves the right to charge the Resident convenience fees or surcharges, subject to Applicable Laws. If Owner is required or agrees to accept Rent from a third party, acceptance of such Rent shall not create a tenancy between the Owner and such third party.
D. Partial Month Pro-Rated Rent Payments. If the Commencement Date is not the first day of a calendar month or the Expiration Date is not the last day of a calendar month, then the Monthly Base Rent for such month shall be prorated based upon the actual number of days in such calendar month. For example, if the Commencement Date is the first day of a calendar month, then the Pro-Rated Rent shall be equal to the full amount of the Monthly Base Rent; however, if the Commencement Date is not the first day of a calendar month, then the Pro-Rated Rent shall equal the Monthly Base Rent due for such month multiplied by a fraction, the numerator of which is the number of days from and including the Commencement Date through and including the last day of such month and the denominator of which is the number of days in such calendar month (for example, if Monthly Base Rent equals $1,000 and the Commencement Date is April 5, then the Pro-Rated Rent shall be equal to $877.67 [i.e., $1,000 x 26/30]). For purposes hereof, pro- rated amounts of all other monthly payment amounts (e.g., Pet Rent and Pool/Spa Facility Rent) shall be calculated in the same manner as Monthly Base Rent and paid simultaneously with the Pro-Rated Rent
(unless otherwise provided). See Subsection 2.A if the Commencement Date occurs on or after the 25th of a calendar month.
E. Partial Rent. Subject to Applicable Laws, (i) Owner has sole and absolute discretion to reject Rent or reject any partial payment of Rent, when Resident is in default under this Lease or when payment does not comply with this Lease or Owner’s Rules and Regulations, (ii) all amounts received by Owner shall be applied first to the oldest outstanding monetary obligations of the Resident, regardless of any other designation of how the payment should be applied, (iii) all payments made by Resident, if less than the full amount due, shall be deemed solely as a partial payment of that Rent, and in no event shall Owner’s acceptance of a partial payment be deemed an accord and satisfaction or any forfeiture of Owner’s right to collect any Rent balance due, despite any statement, endorsement or other writing on Resident’s check or otherwise, and (iv) Owner shall have the right, but shall not be required, to accept any partial payment, including any conditional endorsement, without prejudice to any rights Owner has to recover any amounts still due and owing, or to any of Owner’s Rights and Remedies. F. Late Payment Fee. Resident hereby acknowledges that the late payment by Resident to Owner of Rent and other sums due pursuant to this Lease will cause uncertain damages and actual expenses to be incurred by Owner, the amount of which may not be susceptible to precise calculation but include, without limitation, Owner’s costs related to any debt that secures the Premises, communicating with Resident regarding the late payment, loss of use of funds and increased accounting and administrative expenses resulting from the late payment of Rent. Therefore, in the event Rent is delinquent, Resident agrees to pay Owner the Late Payment Fee, which shall be immediately due and payable and considered Additional Rent. Owner’s acceptance of a Late Payment Fee does not waive any of Owner’s Rights and Remedies. G. Fees. Resident agrees that each of the Late Payment Fee, the Returned Payment Fee, the Compliance Administrative Fee, the Key Administrative Fee, the No-Show Fee (Leasing), the RLWP Fee, the Trip Fee (Missed Service Call), the Service Call Administrative Fee, the Utility Billing Service Fee, the Utility One-Time Fee and the Utility Failure to Transfer Service Fee is each a fair and reasonable estimate Resident: [FIELD 5.1-5.6]
Premises: [FIELD 1]
NRTP LEASE-2022 Page 3
of costs incurred by Owner and shall not be construed as a penalty. Timely payment of all sums due under this Lease by Resident is an independent covenant of each and every other covenant of this Lease. Resident agrees that it shall not have the right to deduct, withhold or offset any portion of the Rent from any claim it may have against Owner, in any action by Resident, except to the extent expressly authorized by Applicable Law. Any Fee that exceeds an amount permitted by Applicable Law should automatically be reduced to the maximum amount permitted by Applicable Law. All Fees are subject to increase provided that Owner notifies Resident of any such increase at least ninety (90) days prior to the effective date of such increase, it being understood and agreed that, if required by Applicable Law, such increase shall not become effective until the first day of the subsequent Renewal Term or, if applicable, the date of the increased cost of the item to which the Fee pertains.
H. Charges for Dishonored Payments. In addition to any Late Payment Fee, Resident agrees to pay, as Additional Rent, a Returned Payment Fee for any check or other payment that is not honored by Owner’s bank or credit card issuer, and unless prohibited by Applicable Laws, any and all processing fees or costs charged by Owner or Owner’s or Resident’s bank, financial institution or credit card issuer associated with the dishonored payment. Returned Payment Fees shall be considered Additional Rent. If payment is made by personal check, Owner is authorized to scan the check and convert it into a one-time electronic debit from the bank account against which the check was written. After two (2) or more Returned Payments within any rolling twelve-month period or upon the occurrence of a default by Resident under this Lease, Owner shall have the right to require Resident to make all future Rent payments with certified funds
(i.e., money order, wire transfer or cashier’s check). Rent sent by U.S. mail or otherwise shall be deemed paid on the date actually received by Owner or Property Manager unless otherwise specifically required by Applicable Laws.
I. Privilege/Use Tax. Resident shall be responsible for payment of any and all Privilege/Use Taxes, if applicable, and shall pay such taxes to Owner monthly as Additional Rent. Owner shall have the right, upon not less than thirty (30) days’ written notice to Resident, to adjust the amount of Rent due to equal the difference caused by the amount of the Privilege/Use Tax (or new percentage amount thereof), to the extent permitted by Applicable Laws. The adjustment to Rent shall not occur before the date upon which the applicable Privilege/Use Tax is effective.
3. MOVE-IN PAYMENT AMOUNT; LEASE CANCELLATION PRIOR TO COMMENCEMENT DATE.
A. Move-In Payment Amount. Resident shall pay Owner the following amounts on or before the dates indicated (collectively, “Move-In Payment Amount”): (i) the entire Security Deposit (due with Resident’s submission of this Lease signed by Resident), (ii) Pro-Rated Rent and pro-rated amounts of any Additional Rent payments that are otherwise due on a monthly basis (all due no later than three (3) Business Days prior to the scheduled Commencement Date) and (iii) in the event the Commencement Date occurs on or after the 25th day of a calendar month, then the Monthly Base Rent payable for the first full calendar month of the Term shall be due and payable no later than 72 hours prior to the scheduled Commencement Date. See Section 9 in the event the Commencement Date is delayed. In the event of a conflict between the terms of this Subsection A and the terms of the State Addendum regarding the amount of timing of any required payments, the terms of the State Addendum shall govern and control. B. Default Prior to Commencement Date. In the event Resident fails to make each Move-In Payment Amount on or before the due date specified in Subsection 3.A, then subject to Applicable Law and any applicable cure periods, Resident shall be in default of this Lease and, if this Lease shall have been fully executed by the Parties, Owner shall have the right to exercise all of Owner’s Rights and Remedies (which includes Resident’s obligation to pay Rent through the balance of the Term, subject to any loss mitigation requirements); provided, however, that if Resident has NOT yet been given keys or other means to physically access the interior of the home on the Premises, then Owner and Resident shall each have the right (except as expressly provided by Applicable Law), upon written notice to the other given no later than one (1) Business Day after the scheduled Commencement Date, to cancel this Lease, in which event upon written confirmation of receipt from Owner (if Resident provided the cancellation notice):
(i) to the extent not prohibited by Applicable Law, Owner shall have the right to retain an amount equal to the Security Deposit required under this Lease as a cancellation fee (“Cancellation Resident: [FIELD 5.1-5.6]
Premises: [FIELD 1]
NRTP LEASE-2022 Page 4
Fee”), which the parties agree is a fair and reasonable estimate of costs incurred by Owner and shall not be construed as a penalty;
(ii) Owner shall refund to Resident any Move-In Payment Amounts actually paid by Resident in excess of the Cancellation Fee, if any;
(iii) this Lease shall be deemed to have been the terminated and cancelled prior to the Commencement Date and shall be considered to be null and void ab initio (except for the terms of this Subsection 3.B which shall survive such cancellation) and Resident shall, upon Owner’s request, execute and deliver a cancellation agreement confirming the terms of this Subsection 3.B; and
(iv) Resident shall be deemed to have unconditionally waived any rights under this Lease (except as expressly contained in this Subsection 3.B for a return of any prepaid Rent) to take possession of the Premises under this Lease or otherwise or to rescind any cancellation notice that may have been given by Resident pursuant to this Section 3. 4. TERM; RENEWAL; PERIODIC TENANCY; RETRACTION OF NOTICE; ESTOPPEL. Subject to the terms and conditions of this Lease and any other written agreements among the Parties pertaining to the Premises, Owner hereby leases to Resident and Resident hereby leases from Owner, for use as a residential dwelling only, the Premises, commencing on the Commencement Date and ending on the Expiration Date. In addition to Resident, the Occupants identified in Paragraph I.i. of the Key Provisions Summary are authorized to occupy the Premises in accordance with the terms of the Lease. Resident shall vacate the Premises on or before the earliest to occur of the Expiration Date or the termination of this Lease or Resident’s right to possession, unless extended in accordance with the terms of this Lease. A. Renewal Of Term. Prior to the Expiration Date, Owner may (but shall not be obligated to) propose in writing various lease renewal options to Resident (each, a “Renewal Option”). If Owner provides a Renewal Option to Resident, then no later than [FIELD 42] days prior to the then-scheduled Expiration Date, Resident shall provide Owner with written notice either (a) accepting such Renewal Option by executing and returning to Owner a lease addendum, new lease, or other document provided by Owner evidencing the terms of the accepted Renewal Option (“Renewal Acceptance”) or (b) terminating the Lease as of the scheduled Expiration Date by delivering a signed Notice of Non-Renewal to Owner. If the Parties fail to execute a Renewal Acceptance or either Party fails to provide a written Notice of Non-Renewal to the other in accordance with Subsection 4.B, then the Term of this Lease shall automatically renew in accordance with Subsection 4.B.
B. Periodic Tenancy. If the Parties fail to timely execute a Renewal Acceptance and neither Party provides the other with a notice terminating this Lease as of the then-scheduled Expiration Date (“Notice of Non-Renewal”), in each case at least [FIELD 42] days prior to the then-scheduled Expiration Date, then the Term of this Lease shall automatically renew on a month-to-month basis (a “Periodic Tenancy”) for successive periods of one (1) calendar month each (for clarification purposes, if the scheduled Expiration Date was March 12, then the last day of the initial Periodic Tenancy would be April 12), and the Monthly Base Rent due during such Periodic Tenancy shall automatically increase as set forth below. Subject to Applicable Laws, during the Periodic Tenancy:
(i) the Monthly Base Rent shall increase to [FIELD-X] of the Monthly Base Rent in effect during the month immediately prior to the commencement of the initial Periodic Tenancy;
(ii) the Term will continue to renew on a month-to month basis until the Parties execute a Renewal Option or Resident or Owner provides the other with a Notice of Non-Renewal at least thirty (30) days prior to the last day of any 30-day Periodic Tenancy period. For clarification purposes, the new Expiration Date shall be the later of: (a) the date designated in a Notice of Non-Renewal at or prior to the first day of any Periodic Tenancy and (b) the date that is thirty (30) days after the date such Notice of Non-Renewal is received by the other Party; Resident: [FIELD 5.1-5.6]
Premises: [FIELD 1]
NRTP LEASE-2022 Page 5
(iii) except for the aforementioned Periodic Tenancy extension of the Term and increase in Monthly Base Rent, all other terms and provisions of this Lease shall remain in full force and effect during any Periodic Tenancy;
(iv) if the Notice of Non-Renewal is from Resident, it must include the address of the Premises, all Resident names, the new Expiration Date (if different than the scheduled Expiration Date contained in Lease and which must be no earlier than the notice period required by this Subsection 4.B), the Resident’s forwarding address (if known), current contact information, and whether Resident is requesting an inspection of the Premises pursuant to Applicable Law; and
(v) if Resident remains in possession of the Premises beyond the last day of the scheduled Term including any Periodic Tenancy, as applicable, then Resident shall be considered to be a so-called
“holdover tenant” and the terms of Section 8 shall apply. C. Monthly Base Rent During Periodic Tenancy. Notwithstanding anything to the contrary contained in this Lease and subject to Applicable Laws, Owner shall have the right to increase the Monthly Base Rent at any time during a Periodic Tenancy upon at least thirty (30) days prior written notice to Resident. The increased Monthly Base Rent due during the Periodic Tenancy shall be due and payable no later than the first (1st) day of the calendar month; however, for the month in which the initial Periodic Tenancy period commences (unless same is the first [1st] day of a calendar month), the increased portion of the Monthly Base Rent (in excess of the amount due for the period immediately preceding the Periodic Tenancy), shall be due and payable on the first (1st) day of the following calendar month. For illustrative purposes, if the Periodic Tenancy commences on June 15, then provided Resident has paid Monthly Base Rent for the entire month of June at the rate payable prior to the commencement of the Periodic Tenancy, then the Monthly Base Rent due and payable on July 1 shall include a pro-rated amount of Monthly Base Rent for the period from June 15 through June 30 and the Monthly Base Rent for the month of July at the increased Periodic Tenancy rental rate.
D. Retraction of Notice. Resident understands that once Resident provides Owner with a Notice of Non-Renewal, Owner will promptly begin to market the Premises for lease and/or sale to third parties commencing the date immediately following the then-scheduled Expiration Date. If, after providing Owner with a Notice of Non-Renewal, Resident should change his/her mind and desire to request an extension of the term of this Lease notwithstanding having agreed to the termination hereof by issuing the Notice of Non- Renewal, then Owner shall have the right, but not the obligation (such decision to be made by Owner in its sole and absolute discretion it being understood and agreed that Resident has no right to change his/her mind or retract the Notice of Non-Renewal), to agree to a rescission of such Notice of Non-Renewal and/or a modification of this Lease to accommodate an extension of the then-scheduled Expiration Date; provided, however, that any such agreement by Owner can only be accomplished by, and will only be valid pursuant to, (i) a writing signed and/or acknowledged by both Owner and Resident and (ii) Resident’s payment to Owner of the Notice Retraction Fee within such time period as may be designated by Owner (which shall be considered Additional Rent); provided, further, however, that if either (i) or (ii) is not satisfied on or before the date specified by Owner, then there shall be no extension of the Term and the Lease shall expire on the scheduled Expiration Date. For clarification, no Notice Retraction Fee shall be due and payable absent an extension of the Lease beyond the then-scheduled Expiration Date pursuant to this Subsection D. E. Estoppel. Upon the first day of any renewal of this Lease or Periodic Tenancy, each person constituting Resident shall be deemed to have acknowledged and agreed that as of such date: (i) Resident has no claims arising under this Lease against Owner’s Agents, (ii) to the best of his/her knowledge, Resident is not aware of any default or failure on the part of Owner to keep or perform any covenant, condition or undertaking to be kept or performed by Owner under this Lease, and (iii) the Premises is in good working order and repair. F. Military and Domestic Violence Termination Right. Nothing contained in this Section 4 shall in any way limit any rights Resident may have under Applicable Laws to terminate this Lease in certain situations involving domestic violence, sexual assault, or military deployment