If a tenant is unwilling or unable to purchase outright after the benefit of a discounted rent for five years, the following options will be considered: • Continue as Rent to Buy Tenant for a further five years.
Landlord shall have the meaning given such term in the preambles to this Agreement and shall also include their respective permitted successors and assigns.
Tenant means a person entitled under a rental agreement to occupy a dwelling unit to the exclusion of others.
Lessor means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.
Lessee means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee.
Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.