TEMPORARY RESIDENTIAL LEASE (OCCUPATION BY SELLER)

STATE OF _____________________
COUNTY OF ___________________

1. PARTIES: The parties to this Lease are ________________________________________________________ (Landlord) and ________________________________________________________ (Tenant).

2. LEASE: Landlord leases to Tenant the Property described in the Contract between Landlord as Purchaser and Tenant as Seller dated ____________________, 20____, and known as ________________________________
_________________________________________________________________________________ (address).

3. TERM: The term of this Lease commences on the date the sale covered by the Contract is closed and terminates ___________________________________, unless terminated earlier by reason of other provisions.

4. RENTAL: Tenant shall pay to Landlord as rental $___________________ per day with the full amount of rental for the term of the Lease to be paid at the time of funding of the sale. Tenant will not be entitled to a refund of rental if this Lease terminates early due to Tenant’s default or voluntary surrender of the Property.

5. SECURITY DEPOSIT: Tenant shall pay to Landlord at the time of funding of the sale $___________________ as a deposit to secure performance of this Lease by Tenant. Landlord may use the deposit to satisfy Tenant's obligations under this Lease. Landlord shall refund any unused portion of the deposit to Tenant with an itemized list of all deductions from the deposit within 30 days after Tenant (a) surrenders possession of the Property and (b) provides Landlord written notice of Tenant’s forwarding address.

6. UTILITIES: Tenant shall pay all utility charges except _____________________________________________ ____________________________________________________________________, which Landlord shall pay.

7. USE OF PROPERTY: Tenant may use the Property only for single family dwelling purposes. Tenant may not assign this Lease or sublet any part of the Property.

8. PETS: Tenant may not keep pets on the Property except __________________________________________.

9. CONDITION OF PROPERTY: Tenant accepts the Property in its present condition and state of repair at the commencement of the Lease. Upon termination, Tenant shall surrender the Property to Landlord in the condition required under the Contract at the time of closing, except normal wear and tear and any casualty loss.

10. ALTERATIONS: Tenant may not alter the Property or install improvements or fixtures without the prior written consent of Landlord. Any improvements or fixtures placed on the Property during the Lease become the property of Landlord.

11. SPECIAL PROVISIONS: __________________________________________________________________
____________________________________________________________________________________
____________________________________________________________________________________
____________________________________________________________________________________
____________________________________________________________________________________
____________________________________________________________________________________

12. INSPECTIONS: Landlord may enter at reasonable times to inspect the Property.

13. LAWS: Tenant shall comply with all applicable laws, restrictions, ordinances, rules and regulations with respect to the Property.

14. REPAIRS AND MAINTENANCE: Tenant shall bear all expense of repairing and maintaining the Property, including but not limited to yard, trees and shrubs, unless otherwise required by state law. Tenant shall promptly repair at Tenant's expense any damage to the Property caused directly or indirectly by any act or omission of the Tenant or any person other than Landlord, Landlord's agents or invitees.

15. INDEMNITY: Tenant indemnifies Landlord from the claims of all third parties for injury or damage to the person or property of such third party arising from the use or occupancy of the Property by Tenant. This indemnification includes attorney's fees, costs and expenses incurred by Landlord.

16. INSURANCE: Landlord and Tenant shall each maintain such insurance on the contents and Property as each party may deem appropriate during the term of this Lease. NOTE: CONSULT YOUR INSURANCE AGENT PRIOR TO CLOSING. Possession of the Property by Seller as Tenant may change insurance policy coverage.

17. DEFAULT: If Tenant fails to perform or observe any provision of this Lease and fails, within 24 hours after notice by Landlord, to commence and diligently pursue to remedy such failure, Tenant will be in default.

18. TERMINATION: This Lease terminates upon expiration of the term specified in Paragraph 3 or upon Tenant's default under this Lease.

19. HOLDING OVER: Tenant shall surrender possession of the Property upon termination of this Lease. Any possession by Tenant after termination creates a tenancy at sufferance and will not operate to renew or extend this Lease. Tenant shall pay $____________________ per day during the period of any possession after termination as damages, in addition to any other remedies to which Landlord is entitled.

20. ATTORNEY’S FEES: The prevailing party in any legal proceeding brought under or with respect to the transaction described in this Lease is entitled to recover from the non-prevailing party all costs of such proceeding and reasonable attorney's fees.

21. SMOKE DETECTORS: State law may require Landlord to install smoke detectors in certain locations within the Property at Landlord’s expense. Tenant expressly waives Landlord’s duties, if any, to inspect and repair smoke detectors.

22. SECURITY DEVICES: State law may impose on Landlord certain duties related to security devices at Landlord’s expense. In some states, such obligations do not apply to leases with a term of 90 days or less. Tenant expressly waives Landlord’s duties, if any, related to security devices.

23. CONSULT YOUR ATTORNEY: This Lease is intended to be legally binding. READ IT CAREFULLY. If you do not understand the effect of this Lease, consult your attorney BEFORE signing.

24. NOTICES: All notices under this Lease from one party to the other must be in writing and are effective when delivered or transmitted by facsimile machine as follows:

To Landlord at: To Tenant at:

____________________________________                     ____________________________________
____________________________________                     ____________________________________
____________________________________                     ____________________________________

Telephone: (_____) ____________________ Telephone: (_____) ____________________
Facsimile: (_____) ____________________ Facsimile: (_____) ____________________

EXECUTED the _______ day of _________________, 20_____ (EFFECTIVE DATE).

____________________________________ ____________________________________
Landlord Tenant

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TEMPORARY RESIDENTIAL LEASE (OCCUPATION BY SELLER)