RENEWAL LEASES Sample Clauses

RENEWAL LEASES. The Tenants have no right to extend their occupancy of the apartment beyond the end date of the Lease term, unless the Landlord shall agree in writing to a renewal Lease for the apartment. The following rules apply to a renewal Lease: a. A Lease is considered a renewal Lease, even if some or all of the Tenants named on the previous Lease will not continue to be Tenants under the renewal Lease. b. Tenants on a renewal Lease receive the benefit of a discounted rate over the market rental price that otherwise would have applied to a new Lease for the apartment. Also the Tenants on a renewal Lease have the advantage of not being required to vacate the apartment for any time over the summer months. c. Tenants on a renewal Lease, who were also Tenants on the previous Lease, need to pay an additional damage deposit if their current Damage Deposit amount is less than the amount required for their new Lease. If there are any New Tenant(s) on a renewal Lease, the New Tenant(s) will pay a damage deposit, and the damage deposit of the previous Tenant(s) will be returned to the those Tenant(s), who shall not be Tenant(s) on the renewal Lease, as required by the previous Lease. d. On a renewal Lease the apartment will be delivered to the Tenant(s) in whatever condition the previous Tenant(s) may have left it. e. Cleaning, painting, steam-cleaning, vacuuming, dusting, or other general cleaning services will not be performed by the Landlord at the start of a renewal Lease. The Tenants, if they wish such cleaning services at the beginning of a renewal Lease, should hire professional cleaners for the apartment. The expense of any cleaning is the responsibility of the Tenants on the renewal Lease. f. If a new Tenant is entering into a renewal Lease, the Landlord will inspect the apartment for obvious damages on or about the end date of the previous Lease. There is no inspection performed, however, if there will be no new Tenant(s) on a renewal Lease. g. Any new Tenant named on a renewal Lease is required to complete a written Move-In Inspection form and submit same to the Landlord within 5 days of moving into the apartment. This form is available at the Ithaca Renting Company Office at 000 Xxxxxx Xxxx. Noting any damage to the apartment will protect the new Tenant(s) from liability for pre-existing damages in the apartment. Neglecting to note damage to the apartment at the time of the move-in by the new Tenant(s) may cause the repair cost for previous damage to be charged to...
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RENEWAL LEASES 
Sample 1

Related to RENEWAL LEASES

  • Leases (a) Grantor will not (i) execute an assignment of the rents or any part thereof from the Premises without Beneficiary's prior consent, (ii) except where the lessee is in default thereunder, terminate or consent to the cancellation or surrender of any lease of the Premises or of any part thereof, now existing or hereafter to be made, having an unexpired term of one (1) year or more, provided, however, that any lease may be cancelled if promptly after the cancellation or surrender thereof a new lease is entered into with a new lessee having a credit standing at least equivalent to that of the lessee whose lease was cancelled, on substantially the same terms as the terminated or cancelled lease, (iii) modify any such lease so as to shorten the unexpired term thereof or so as to decrease, waive or compromise in any manner the amount of the rents payable thereunder or materially expand the obligations of the lessor thereunder, (iv) accept prepayments of more than one month of any installments of rents to become due under such leases, except prepayments in the nature of security for the performance of the lessees thereunder, (v) modify, release or terminate any guaranties of any such lease or (vi) in any other manner impair the value of the Mortgaged Property or the security hereof. (b) Grantor will not execute any lease of all or a substantial portion of the Premises except for actual occupancy by the lessee thereunder or its property manager, and will at all times promptly and faithfully perform, or cause to be performed, all of the covenants, conditions and agreements contained in all leases of the Premises or portions thereof now or hereafter existing, on the part of the lessor thereunder to be kept and performed and will at all times do all things reasonably necessary to compel performance by the lessee under each lease of all obligations, covenants and agreements by such lessee to be performed thereunder. If any of such leases provide for the giving by the lessee of certificates with respect to the status of such leases, Grantor shall exercise its right to request such certificates within five (5) days of any demand therefor by Beneficiary and shall deliver copies thereof to Beneficiary promptly upon receipt. (c) In the event of the enforcement by Trustee or Beneficiary of the remedies provided for hereby or by law, the lessee under each of the leases of the Premise will, upon request of any person succeeding to the interest of Grantor as a result of such enforcement, automatically become the lessee of said successor in interest, without change in the terms or other provisions of such lease, provided, however, that said successor in interest shall not be bound by (i) any payment of rent or additional rent for more than one (1) month in advance, except prepayments in the nature of security for the performance by said lessee of its obligations under said lease or (ii) any amendment or modification of the lease made without the consent of Beneficiary or such successor in interest. Each lease shall also provide that, upon request by said successor in interest, such lessee shall execute and deliver an instrument or instruments confirming such attornment.

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