Oklahoma IOU
Oklahoma IOU (I Owe You)
This IOU acknowledges that I, [YOUR NAME], (hereinafter referred to as "Borrower"), owe a specified amount to the Lender named below under the terms outlined in this document.
I. Parties Involved:
This agreement is entered into on [DATE] between:
[LANDLORD'S NAME], hereinafter referred to as the "Landlord," residing at [LANDLORD'S ADDRESS], and [TENANT'S NAME], hereinafter referred to as the "Tenant," residing at [TENANT'S ADDRESS].
II. Rental Property Details:
The Landlord agrees to rent out the following property to the Tenant:
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Property Address: [PROPERTY ADDRESS]
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Description: [PROPERTY DESCRIPTION]
III. Rent Amount and Payment Terms:
The Tenant agrees to pay rent in the amount of $[RENT AMOUNT] per [RENT PERIOD], payable on or before the [DUE DATE] of each month.
IV. Security Deposit:
The Tenant has paid a security deposit in the amount of $[DEPOSIT AMOUNT] as security for the faithful performance of all terms and conditions of this agreement.
V. Term of Tenancy:
The term of this tenancy shall commence on [START DATE] and shall continue on a month-to-month basis until terminated by either party with [NOTICE PERIOD] days' written notice.
VI. Maintenance and Repairs:
The Tenant agrees to maintain the premises in good condition and promptly notify the Landlord of any needed repairs or maintenance issues.
VII. Default and Remedies:
In the event of default by the Tenant, the Landlord shall have the right to pursue all legal remedies available, including but not limited to eviction and/or collection of unpaid rent and damages.
VIII. Governing Law:
The provisions and clauses contained within this agreement are to be interpreted and enforced in line with the legal statutes and regulations applicable in the State of Oklahoma.
IX. Signatures:
Both parties acknowledge that they have read and understood the terms of this agreement and agree to be bound by its provisions.
Landlord
[YOUR NAME]
[DATE]
Tenant
[TENANT'S NAME]
[DATE]
