Common use of Description and Term Clause in Contracts

Description and Term. Landlord does hereby rent to Tenant, and Xxxxxx does hereby lease from Landlord, in "as is" condition, all that improved real property having an address of: term (“rental period”) beginning on the day of , 20 and ending on the day of , 20 for the sum of Dollars ($ ), and said sum is to be equally divided between the above listed Tenants and each Tenant listed above is to pay said sum in two equal installments with the 1st installment due no later then July 1, 2022 and the 2nd installment due no later then December 1, 2022. Any payment which is more than five (5) days late will incur a late charge of five percent (5%) per rental period, which shall be paid in addition to the rent then due. Tenants acknowledge that if any one of them have not paid either of their installment payments by the due dates then said Tenant will be denied access to the property and will not be permitted to move into the property. It is expressly understood and agreed that this Lease Agreement shall be between Landlord and each signatory individually and severally, and that in the event of default by any one signatory, every remaining signatory shall have their rent price adjusted and all provisions of this Lease Agreement remain as is. Notwithstanding this provision, it is further agreed that in the event one or more of the Tenants reneges on this Lease Agreement by reason of health, dismissal from the University or other reason, they will remain financially responsible under the terms of this Lease Agreement unless they find a suitable replacement that is acceptable to Landlord. Landlord may accept the replacement Tenant and release the original Tenant from his financial responsibility only if the replacement Tenant signs this Agreement and pays the Security Deposit; however, the Tenant shall be held responsible for the payment of any deficieny between his payment pursuant to this Agreement and the replacement Tenant’s Agreement. In either event the initial Tenants’ rental application processing fee ($25) is forfeited and shall not be transferrable to any replacement Tenant. Should Tenant remain in possession of the leased property with the consent of Landlord after the natural expiration of this Agreement, a new tenancy from month to month shall be created between Landlord and Tenant, which shall be subject to all the terms and conditions hereof except that the rent can be increased in an amount to be determined by Landlord.

Description and Term. Landlord does hereby rent to Tenant, and Xxxxxx does hereby lease from Landlord, in "as is" condition, all that improved real property having an address of: Frostburg, MD 21532, for the term (“rental period”) beginning on the day of May, 20 , and ending on the day of August, 20 , for the sum of Dollars ($ ), and said sum is to be equally divided between paid in full on or before the above listed Tenants and each Tenant listed above is to pay said sum in two equal installments with the 1st installment due no later then July 1, 2022 and the 2nd installment due no later then December 1, 2022date that this Lease takes effect. Any payment which is more than five (5) days late will incur a late charge of five percent (5%) per rental period, which shall be paid in addition to the rent then due. Tenants acknowledge that if any one of them have not paid either of their installment payments by the due dates then said Tenant will be denied access to the property and will not be permitted to move into the property. It is expressly understood and agreed that this Lease Agreement shall be between Landlord and each signatory individually and severally, and that in the event of default by any one signatory, every remaining signatory shall have their rent price adjusted and all provisions of this Lease Agreement remain as is. Notwithstanding this provision, it is further agreed that in the event one or more of the Tenants reneges on this Lease Agreement by reason of health, dismissal from the University or other reason, they will remain financially responsible under the terms of this Lease Agreement unless they find a suitable replacement that is acceptable to Landlord. Landlord may accept the replacement Tenant and release the original Tenant from his financial responsibility only if the replacement Tenant signs this Agreement and pays the Security Deposit; however, the Tenant shall be held responsible for the payment of any deficieny between his payment pursuant to this Agreement and the replacement Tenant’s Agreement. In either event the initial Tenants’ rental application processing fee ($25) is forfeited and shall not be transferrable to any replacement Tenant. Should Tenant remain in possession of the leased property with the consent of Landlord after the natural expiration of this Agreement, a new tenancy from month to month shall be created between Landlord and Tenant, which shall be subject to all the terms and conditions hereof except that the rent can be increased in an amount to be determined by Landlord.

Description and Term. Landlord does hereby rent to Tenant, and Xxxxxx Tenant does hereby lease from Landlord, in "as is" condition, all that improved real property having an address of: Xxxxxxxxx, XX 00000, for the term (“rental period”) beginning on the day of August, 20 and ending on the day of May, 20 , for the sum of Dollars ($ ), and said sum is to be equally divided between the above listed Tenants and each Tenant listed above is to pay said sum in two equal installments with the 1st installment due no later then July 1July1, 2022 20 and the 2nd installment due no later then December 1, 202220 . Any Additionally, any payment which is more than five (5) days late will incur a late charge of five percent (5%) per rental period, which shall be paid in addition to the rent then due. Tenants acknowledge that if any one of them have not paid either of their installment payments by the due dates then said Tenant will be denied access to the property and will not be permitted to move into the property. It is expressly understood and agreed that this Lease Agreement shall be between Landlord and each signatory individually and severally, and that in the event of default by any one signatory, every remaining signatory shall have their be responsible for timely payment of the rent price adjusted and all provisions of this Lease Agreement remain as isAgreement. Notwithstanding this provision, it is further agreed that in the event one or more of the Tenants reneges shall renege on this Lease Agreement by reason of health, dismissal from the University or other reason, they will remain financially responsible under the terms of this Lease Agreement unless they find Agreement. If a suitable replacement that can be found by such Tenant, or if Landlord is acceptable able to Landlord. find a replacement, Landlord may accept the replacement new Tenant and release the original Tenant from his financial responsibility only if the replacement Tenant signs this Agreement and pays the Security Depositresponsibility; however, the Tenant shall be held responsible for the payment of any deficieny between his payment pursuant to this Agreement and the replacement new Tenant’s lease Agreement. In either event the initial Tenants’ Tenants non-refundable holding fee ($300) and rental application processing fee ($25) is are forfeited and shall not be transferrable to any replacement Tenant. Should Tenant remain in possession of the leased property with the consent of Landlord after the natural expiration of this Agreement, a new tenancy from month to month shall be created between Landlord and Tenant, which shall be subject to all the terms and conditions hereof except that the rent can be increased in an amount to be determined by Landlord.

Description and Term. Landlord does hereby rent to Tenant, and Xxxxxx Tenail.t does hereby lease from Landlord, in "as is" condition, all that improved real property having an address of: _00 Xxxxx Xxxx_ Xxxx # , XxXxxxx, XX 00000 for the term (“rental period”) beginning on the day of 1st Day of, 20 September 2019, and ending on the 15th day of of, 20 for May 2020_for the sum of $ .00 Dollars Per Lease term. Lease costs payable based on ''Payment Option" chosen ($ see attached), and said sum is to be equally divided between the above listed Tenants and each Tenant listed above is to pay said sum in two equal installments with the 1st installment due no later then July 1, 2022 and the 2nd installment due no later then December 1, 2022. Any payment which is more than five (5) days late will incur a late charge of five percent (5%) per rental period, which shall be paid in addition to the rent then due. Tenants acknowledge that if any one of them have not paid either of their installment payments by the due dates then said Tenant will be denied access to the property and will not be permitted to move into the property. It is expressly understood and agreed that this Lease Agreement agreement shall be between Landlord and each signatory individually and severally, and that in the event of default by any one signatory, every remaining signatory shall have their rent price adjusted and all provisions of this Lease Agreement remain as is. Notwithstanding this provision, it is further agreed that in the event one or more of the Tenants reneges on shall breach the terms of this Lease Agreement by for any reason of healthwhatsoever, including but not limited to health reasons or, dismissal from Xxxxxxx Community College, the University or other reason, they Tenant and Guarantor to this Lease Agreement will remain financially responsible under the terms of this Lease Agreement unless they find Agreement. If a suitable replacement that can be found by such Tenant, or if Landlord is acceptable able to Landlord. find a replacement, Landlord may accept the replacement new Tenant and release the original Tenant from his further financial responsibility only if the replacement Tenant signs this Agreement and pays the Security Deposit; however, the Tenant shall be held responsible for the payment of any deficieny between his payment pursuant to this Agreement and the replacement Tenant’s Agreement. In either event the initial Tenants’ rental application processing fee ($25) is forfeited and shall not be transferrable to any replacement Tenantresponsibility. Should Tenant remain in possession of the leased lease property with the consent of Landlord after the natural expiration of this Agreement, a new tenancy from month to month shall be created between Landlord and Tenant, which shall be subject to all the terms and conditions hereof except that the rent can will be increased in an amount to be determined 150% of the rent paid by Landlordthe Tenant during the Term Further, the Tenant acknowledges that the Tenant's obligation to pay rent is not conditioned upon the receipt of financial aid by the Tenant.

Description and Term. Landlord does hereby rent to Tenant, and Xxxxxx Tenant does hereby herby lease from Landlord, in "“as is" ” condition, all that improved real property having an address of: ., Xxxxxxxxx, XX 00000 for the term (“rental period”) beginning on the 25th day of August, 20 2020 and ending on the 25th day of May, 20 2021 for the sum of Dollars ($ ), and said sum is to be equally divided between the above listed Tenants and each Tenant listed above is to pay said sum payable in two equal installments with the 1st installment payments. First payment of is due no later then July 1, 2022 and the 2nd installment 2020( per student). The second payment of is due no later then December January 1, 20222021( per student). Payments should be made to Xxxxxx XxXxxx and sent to XX Xxx 0000, Xxxxxxxxx, XX. 00000. If a student is receiving student loans or financial aid and not able to pay the rent in accordance to the above mentioned terms, the student must have their parents or guardians sign a release form guaranteeing that the rent will be paid. Landlord will provide such forms. Any payment which is more than five fifteen (515) days late will incur a late penalty charge of five 5 percent (5%) per rental period, which shall be paid in addition to of the total rent due. A 2% finance charge will incur every month the rent then due. Tenants acknowledge that if any one of them have is not paid either of their installment payments by the due dates then said Tenant will be denied access to the property and will not be permitted to move into the propertythere after. It is expressly understood and agreed that this Lease Agreement shall be between Landlord and each signatory signatory, individually and severally, and that in the event of default by any one signatory, every remaining signatory shall have their be responsible for timely payment of the rent price adjusted and all provisions of this Lease Agreement remain as isAgreement. Notwithstanding this provision, it is further agreed that in the event one or more of the Tenants reneges shall renege on this Lease Agreement by reason of health, dismissal from the University or other reason, they will remain financially responsible under the terms of this Lease Agreement unless they find Agreement. If a suitable replacement that can be found by such Tenant, or if Landlord is acceptable able to Landlord. find a replacement, Landlord may accept except the replacement new Tenant and release the original Tenant from his further financial responsibility only if the replacement Tenant signs this Agreement responsibility. You, individually and pays the Security Deposit; howeverseverally, the Tenant shall be held responsible for the payment of any deficieny between his payment pursuant to this Agreement and the replacement Tenant’s Agreement. In either event the initial Tenants’ rental application processing fee ($25) is forfeited and shall will not be transferrable released from this Lease Contract for any reason-including but not limited to any replacement Tenant. Should Tenant remain in possession voluntary or involuntary school withdrawal or transfer, voluntary or involuntary job transfer, marriage, separation, divorce, reconciliation, loss of the leased property with the consent co-residence, loss of Landlord after the natural expiration of this Agreement, a new tenancy from month to month shall be created between Landlord employment and Tenant, which shall be subject to all the terms and conditions hereof except that the rent can be increased in an amount to be determined by Landlordbad health.