Lease Agreement

2095 words 9 pages
Team Project Contract-Lease Assignment

This Residential Lease Agreement (hereinafter “Lease”) is entered into this the 10-01-11, by and between the Lessor: George Murphy, (hereinafter referred to as “Landlord”), and the Lessee(s): Benjamin Potter for the Potter Corporation. All Lessees (hereinafter referred to collectively as “Tenant”), are jointly, severally and individually bound by, and liable under, the terms and conditions of this Lease. 1. GRANT OF LEASE: Landlord does hereby lease unto Tenant, and Tenant does hereby rent from Landlord, solely for use of space on the building roof for the construction of a sign owned by The Potter Corporation. The building is located in Clark County, with the address of: 1234 S.
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Tenant expressly agrees and understands that upon Tenant or Landlord’s termination of this Lease, the entire remaining balance of unpaid rent for the remaining term of this Lease shall ACCELERATE, whereby the entire sum shall become immediately due, payable, and collectable. Landlord may hold the portion of Tenant’s security deposit remaining after reasonable cleaning and repairs as a partial offset to satisfaction of the accelerated rent. 6. UTILITIES: a) The Landlord is responsible for the Utilities of the building. b) If there is a service interruption (e.g. electricity to light the sign) the Landlord needs to repair within 72 hours or the Tenant will be entitled to a decrease on rent payment.
7. OBLIGATIONS AND DUTIES OF LANDLORD:
Landlord agrees to:
(a) Comply with the requirements of applicable building and housing codes materially affecting health and safety; 8. OBLIGATIONS AND DUTIES OF TENANT:
Tenant agrees to: a) Keep that part of the premises that he occupies and uses as clean and as safe as the condition of the premises permits; b) Not deliberately or negligently destroy, deface, damage, impair or remove any part of the premises or knowingly permit any other person to do so; c) Conduct himself and require other

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