39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
(NAME AND ADDRESS)
Property to the Tenant. If the Landlord fails to give possession of the Property within 30 days of the start date set forth above, then the
Tenant may terminate this Lease by giving notice to Landlord. If the first day of the Term is delayed, then the last day of the Term shall
be adjusted accordingly, so that the Term remains for the number of months or years above stated.
36
37
38
4. RENT: The rent for the Term of this Lease is $ ________________, to be paid as follows: $______________ per month, which is
due on the ___________________________ day of each month. Rent shall be payable to: ____________________________________
____________________________________________________________________________________________________________.
5. INITIAL DEPOSIT: Tenant has paid an initial deposit of $ ________________ received on ____________________ that will
be credited towards ____________ the first month's rent or ____________ the Security Deposit. The balance shall be paid as fol-
lows: First month's rent $__________________ Due on _______________________________________________, Security Deposit
$_______________________ Due on ________________________________________________________.
6. SECURITY DEPOSIT: Tenant shall pay to the Landlord the sum of $ _____________ (the “Security Deposit” which cannot
exceed one and one-half months rent) to assure that Tenant performs all of Tenant's obligations under this Lease. Landlord shall comply
with the Rent Security Deposit Act (N.J.S.A. 46:8-19 et seq.; the “Act”). This includes depositing the Security Deposit into a banking
institution or investment company in New Jersey and notifying the Tenant in writing within 30 days of Landlord's receipt of the Secu-rity
Deposit of (i) the name and address of the banking institution or investment company; (ii) the type of account in which the Security
Deposit is deposited or invested (for example, interest bearing or money market); (iii) the amount of the Security Deposit and (iv) the
current rate of interest for the account. The Act also requires payment in cash to Tenant of all interest earned on the Security Deposit
upon the anniversary date of this Lease or the renewal of the term of this Lease. At such time, or at the time of a change in the type of
account or a change in the banking institution or investment company, Landlord shall again notify Tenant of (i) the name and address of
the banking institution or investment company; (ii) the type of account in which the Security Deposit is deposited or invested; (iii) the
amount
of Security Deposit and (iv) the current rate of interest for the account. Such a notice shall also be given to Tenant within 30 days
after conveyance of the Property.
The Landlord may deduct from the Security Deposit any costs resulting from the Tenant's failure to comply with any of the terms of
this Lease. If the Landlord makes any such deductions, then upon demand, the Tenant shall promptly restore the Security Deposit to its
original amount. The Security Deposit may not be used by the Tenant for the payment of rent without the written consent of the Landlord.
The Landlord shall inspect the Property after the Tenant vacates at the end of the Term. Within 30 days of the termination of this Lease,
the Landlord shall return the Security Deposit plus the undistributed interest to the Tenant, less any charges expended by the Landlord
for damages to the Property resulting from the Tenant's occupancy. The interest and deductions shall be itemized in a statement by the
Landlord, and shall be forwarded to the Tenant with the balance of the Security Deposit by personal delivery, registered or certified mail.
If the Landlord sells or transfers the Property during the Term of this Lease, the Landlord will transfer the Security Deposit plus the
undistributed interest to the new owner. Landlord shall notify the Tenant of the sale and transfer, as well as the name and address of the
new owner. The notice shall be given by registered or certified mail within five days after conveyance of title. After acquisition of the
Property, the new owner shall have all responsibility regarding the Security Deposit, and the Landlord shall have no further responsibility.
7. LATE PAYMENT PENALTY: If the Tenant does not pay the rent by the ___________ day of the month, the Ten
ant shall pay a
late charge of _____________ until the rent is received by Landlord. The late charge shall be added to the rent, and shall be considered as
additional rent, which is defined in Section 8. In the event any rent check is returned unpaid due to insufficient funds, the Tenant agrees
to pay the Landlord a $__________________ processing charge. In such event, the Landlord reserves the right to demand that future rent
payments be made in cash, bank or certified check.
8. ADDITIONAL RENT: Landlord may perform any obligations under this Lease which are Tenant's responsibility and which Tenant
fails to perform. The cost to Landlord for such performance may be charged to TENANT as "additional rent" which shall be due and
payable with the next installment of monthly rent. The additional rent
may include reasonable attorney's fees incurred by Landlord
because of Tenant's failure to perform under this Lease. Landlord has the same rights against Tenant for failure to pay additional rent as
Landlord has for Tenant's failure to pay monthly rent. This means that the Landlord may evict Tenant for failure to pay additional rent.
9. POSSESSION AND USE: The Landlord shall give possession of the Property to the Tenant for the Term of this Lease except as
otherwise provided in this Lease. The Tenant shall occupy the Property only as a private residence, and will not use the Property for any
business, trade or profession. The Tenant shall not store any flammable, dangerous or hazardous materials at the Property, other than
ordinary household cleaning materials. The Property shall not be allowed to be vacant for any extended period of time.
10. UTILITIES: The Tenant shall arrange to have the utilities transferred into Tenant's name prior to occupancy, and shall be respon-
sible for paying the following utility services: Gas Electric Water Heat Sewer General Trash Disposal
(O
ther) ___________________________________________________________________.
The Landlord shall provide and pay for the following utility services: Gas Electric Water Heat Sewer
NJAR® Form-125-7/12 Page 2 of 8
Tenant's
Initials: __________
Landlord's
Initials:
__________