Fill - Free fillable CALIFORNIA RESIDENTIAL LEASE AGREEMENT PDF form

Page 1 of 6

CALIFORNIA RESIDENTIAL LEASE AGREEMENT

-WITH OPTION TO PURCHASE-

THIS AGREEMENT MADE and entered into on this ______ day of

_______________________, 20____ by and between,

________________________________________________ [Name of Lessor], with a mailing

address of ________________________________________________ City of

_______________________, in the State of _______________________ and

________________________________________________ [Name of Lessee], with a mailing

address of ________________________________________________ City of

_______________________, in the State of _______________________.

Lessee, hereby leases to Lessee, his/her heirs or assignees, the premises situated in the City

of _______________________, County of _______________________, State of California,

legally described as, with the street address of _______________________

_______________________ upon the following terms and conditions:

I. LEASE TERM: The term hereof shall commence on this ____ day of

_______________________, 20____ and continue for a period of ____ ☐ - Month(s) ☐ -

Year(s) and ending on the ____ day of _______________________, 20____.

II. RENTAL PAYMENTS: Rent shall be per month, payable in advance, upon the first day of

each calendar month to Lessor or his or her authorized agent at the following address:

__________________

___________________________________________________________________________

In the event the rental payment is not received within ____ days after the due date, Lessee

agrees to pay a late charge of _______________________ dollars

($_______________________) plus interest at _______________________ percent (____%)

per annum on the delinquent amount and will not be applied as an additional consideration

towards the option price of the property. Any check tendered in payment of rent that is returned

NSF will be subject to a service charge of _______________________ dollars

($_______________________) be applied as an additional consideration towards the option

price of the property.

III. OPTION TO PURCHASE: In consideration of the Lessee meeting all obligations as stated

herein under this lease, the Lessor hereby grants the Lessee an option to purchase under the

following terms and conditions:

1. The option price is terms of purchase will be _______________________ dollars

($_______________________).

2. Lessee understands that time is of the essence in this agreement. The option will

expire without notice and be of no further effect if not exercised on or before the

____ day of _______________________, 20____

Page 2 of 6

3. Lessee shall pay the sum of _______________________ dollars

($_______________________) as a non-refundable option consideration that

will be applied toward the purchase price of the property if, and only if, Lessee

exercises this option to purchase. In the event Lessee fails to exercise the option

or defaults under any terms of the lease, the option will be void and all monies

will be retained by Lessor as liquidated damages and not as a penalty. The

option consideration will be refundable only if 1) a pre-closing home inspection by

a certified home inspector reveals structural damage in excess of four (4)% of the

option price of the property (provided, however, that lesser damage will be the

responsibility of Lessor to correct prior to closing); or (2) Lessor fails or is unable

to meet any of the obligations set forth in the lease option agreement.

4. _______________________ percent (____%) of the rent paid, pursuant to this

lease agreement, will be applied as additional option consideration to reduce the

option price if and only if the Lessee exercises this option to purchase, provided,

however, that no payments made after the 15th of any month for which rent is

due, or for which payment tendered is returned NSF, shall be credited towards a

reduction in the option price.

5. The option shall be exercised by mailing or delivering written notice to the Lessor

prior to the expiration of this agreement. Notice, if mailed, shall be by certified

mail, postage prepaid, to the Lessor at the address set forth below, and shall be

deemed to have been given upon the day shown on the postmark of the

envelope in which such notice is mailed.

6. This purchase option is not contingent upon Lessee’s ability to obtain financing

from a lender.

7. Personal Property: Said lease shall include the following personal property: ____

________________________________________________________________

IV. UTILITIES: Lessee shall be responsible for the payment of all utilities and services except

for

___________________________________________________________________________.

V. PROPERTY USE: The premises shall be used as a residence and for no other purpose

without prior written consent of Lessor.

VI. MAINTENANCE, REPAIRS OR ALTERATIONS: Lessee shall maintain the premises in a

clean and sanitary manner including all equipment, appliances, furniture and furnishings

therein, and shall surrender the same at termination thereof, in as good condition as received,

normal wear and tear excepted. Lessee shall be responsible for damages caused by his/her

negligence and that of his/her family, or invitees or guests. Lessee shall maintain any

surrounding grounds, including lawns and shrubbery, and keep the same clear of rubbish and

weeds, if such grounds are part of the premises and are exclusively for use of the Lessee.

Lessee shall make no alterations to the buildings or improvements on the Premises or

Page 3 of 6

construct any building or make any other improvements on the Premises without the prior

written consent of Lessor. Any and all alterations, changes, and/or improvements built,

constructed or placed on the Premises by Lessee shall, unless otherwise provided by written

agreement between Lessor and Lessee, are and will become the property of Lessor and

remain on the Premises at the expiration or earlier termination of this Agreement.

VII. ENTRY AND INSPECTION: Lessee shall permit Lessor or Lessor’s agents to enter the

premises at reasonable times and upon reasonable notice for the purpose of inspecting the

premises or for making necessary repairs.

VIII. POSSESSION: If Lessor is unable to deliver possession of the premises at the

commencement hereof, Lessor shall not be liable for any damage 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 terminate this agreement if possession is not delivered within the

term hereof.

IX. SECURITY/DAMAGE DEPOSIT: The security deposit of _______________________

dollars ($_______________________) shall secure the performance of the Lessee’s

obligations hereunder. Lessor may apply all or portions of said deposit on account of

Lessee’s obligations hereunder. Upon exercise of the option, Lessor shall credit said deposit

towards the purchase price of the property.

X. DEPOSIT FUNDS: In the event Lessee does not exercise the purchase option, any

returnable portion of the security/damage deposit shall be refunded within ____ days from the

date possession is delivered to Lessor or his/her authorized agent.

XI. ATTORNEY FEES: The prevailing party shall be entitled to all costs incurred in connection

with any legal action brought by either party to enforce the terms hereof or relating to the

demised premises, including reasonable attorneys’ fees.

XII. NOTICES: Any notice which either party may or is required to give may be given by

mailing the same, postage prepaid, to Lessee or at such other places as may be designated by

the parties from time to time.

XIII. HEIRS, ASSIGNS, SUCCESSORS: This lease and option shall include and insure to and

bind the heirs, executors, administrators, successors, and assigns of the respective parties

hereto.

XIV. DEFAULT: If Lessee shall fail to pay rent when due or perform any term hereof after not

less than ____ days written notice of such default given in the manner required by law, the

Lessor at his/her option may terminate all rights of the Lessee hereunder, unless Lessee,

within said time, shall cure such default. If Lessee abandons or vacates the property while in

default of payment of rent, Lessor may consider any property left on premises to be

abandoned and may dispose of the same in any manner allowed by law. In the event the

Lessor reasonably believes that such abandoned property has not value, it may be discarded.

Page 4 of 6

XV. Encumbrances: Lessee shall take title to the property subject to: a) Real Estate Taxes

not yet due and 2) Covenants, conditions, restrictions, reservations, rights, rights of way, and

easements of record, if any.

XVI. Examination of Title: Lessee shall have ____ days from the date of receipt of title report

to examine the title to the property and to report, in writing, any valid objections thereto. Any

exceptions to the title which would be disclosed by examination of the records shall be deemed

to have been accepted unless reported in writing with said timeframe. If Lessee objects to any

exceptions to the title, Lessor shall use all due diligence to remove such exceptions at his/her

own expenses within sixty (60) days thereafter. But if such exceptions cannot be removed

within the sixty (60) days allowed, all rights and obligations hereunder may, at the election of

the Lessee, terminate and end unless he/she elects to purchase the property subject to such

exceptions.

XVII. Evidence of Title: Lessor shall provide evidence of title in the form of a policy of title

insurance at Lessor’s expense.

XVIII. Bill of Sale: The personal property identified in the first paragraph, Title VII shall be

conveyed by bill of sale.

XIX. Closing: Closing shall be within ____ days from the exercise of the option unless

otherwise extended by other terms of this agreement.

XX. GOVERNING LAW AND VENUE. This Option to Purchase Agreement shall be governed,

construed and interpreted by, through and under the Laws of the State of California. The

parties further agree that the venue for any and all disputes related to this Option to Purchase

shall be _______________________ County, California.

XXI. MEGAN’S LAW DATABASE DISCLOSURE: Notice: Pursuant to Section 290.46 of the

Penal Code, information about specific registered sex offenders is made available to the public

via an Internet Web site maintained by the Department of Justice at www.meganslaw.ca.gov.

Depending on an offender’s criminal history, this information will include either the address at

which the offender resides or the community of residence and ZIP Code in which he or she

resides. (Neither Seller nor Brokers are required to check this website. If Buyer wants further

information, Broker recommends that Buyer obtain information from this website during

Buyer’s inspection contingency period. Brokers do not have expertise in this area.)

XXII. Closing Costs: Lessee shall be responsible for all closing costs other than those

referenced herein as being the responsibility of the Lessor.

XXIII. Prorations: Tax and insurance escrow account, if any, to be transferred intact to

Lessee with no prorations. Interest and other expenses of the property to be prorated as of the

date of closing. In witness whereof, the parties hereto have executed this agreement the day

and year first above written.

All parties agree to the terms and conditions of this agreement made on the ____ day of

_______________________, 20_____.