Common use of OPTION TO RENEW LEASE Clause in Contracts

OPTION TO RENEW LEASE. The Resident shall have an option to renew this Lease for an additional one (1) year under similar terms and conditions as are included herein, with the exception of the rent. The Resident shall give the Owner written notice of the Residents intention to renew this Lease at least sixty (60) days prior to the expiration of this Lease. It is agreed that the Resident, if he holds over and/or continues to occupy the Premises on a month to month basis without the benefit of a signed Lease Agreement, will have the same benefits and the same obligations as he would have had if he executed the tendered lease.

OPTION TO RENEW LEASE. The Resident shall have an option to renew this Lease for an additional one (1) year under similar terms and conditions as are included herein, with the exception of the rent. The Resident Owner shall give the Owner written notice of the Residents intention an option to renew this Lease at least sixty (60) days prior to the expiration of this Lease. It is agreed that the Resident, if he holds over and/or continues to occupy the Premises on a month to month basis without the benefit of a signed Lease Agreement, will have the same benefits and the same obligations as he would have had if he executed the tendered lease.