Lease Option Agreement

LEASE WITH OPTION TO PURCHASE AGREEMENT
This Lease with Option to Purchase Agreement ("Agreement") is entered into as of [Date] by and between:
LANDLORD / OPTIONOR: [Landlord Full Legal Name], [Landlord Address] ("Landlord")
TENANT / OPTIONEE: [Tenant Full Legal Name], [Tenant Address] ("Tenant")
PROPERTY: [Property Address], [City], [State] [ZIP], legally described as [Legal Description] ("Property")
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PART I — LEASE TERMS
ARTICLE 1 — LEASE PERIOD
1.1 The lease term shall commence on [Lease Start Date] and continue through [Lease End Date] ("Lease Term").
1.2 This Agreement may not be renewed beyond the Lease Term unless a new written agreement is executed.
ARTICLE 2 — MONTHLY RENT
2.1 Tenant agrees to pay [Monthly Rent] per month as base rent, due on the [Day] of each month.
2.2 Rent shall be paid to: [Landlord Name], [Payment Address].
2.3 A late fee of $[Late Fee Amount] shall apply to any rent payment received after the [Grace Period]-day grace period.
2.4 Returned check fee: $[NSF Fee].
ARTICLE 3 — SECURITY DEPOSIT
3.1 Tenant shall deposit $[Security Deposit Amount] as a security deposit upon execution of this Agreement, held by Landlord in accordance with applicable state law.
3.2 The security deposit shall not be applied to any rent, option consideration, or purchase price.

[Section 2 — continued...]

[Section 3 — fill in your details...]

[Additional clauses and provisions apply...]