Professional Residential Lease

This Residential Lease Agreement ("Agreement") is made and entered into as of December 18, 2051, by and between [YOUR COMPANY NAME] ("Lessor") and Floyd Cremin ("Tenant"). The Lessor and Tenant may collectively be referred to as the "Parties."

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I. PREMISES

Lessor hereby leases to Tenant, and Tenant hereby leases from Lessor, the residential property located at Portland, OR 97201 ("Premises"), consisting of the following:

• 3 bedrooms, 2 bathrooms, 1 kitchen, 1 living room, 1 garage

The Premises are to be used exclusively for residential purposes and cannot be used for any commercial purposes without prior written consent from the Lessor.

II. TERM OF LEASE

This Lease shall commence on January 1, 2052, and shall continue until December 31, 2052, unless terminated earlier in accordance with the terms of this Agreement.

III. RENT

Tenant agrees to pay to Lessor rent in the amount of $1,800.00 per month, due on the 1st day of each month. Rent shall be payable to [YOUR COMPANY NAME] at [YOUR COMPANY ADDRESS], or any other address designated by the Lessor in writing.

Late payments will incur a late fee of $100.00, and Tenant shall be responsible for all collection costs and attorney fees associated with late payments.

IV. SECURITY DEPOSIT

Tenant shall pay a security deposit of $1,800.00 prior to taking possession of the Premises. This deposit will be held by the Lessor to cover any damage or unpaid rent. The security deposit will be returned to Tenant, less any deductions for damages or unpaid charges, within 30 days of the termination of the Lease.

V. UTILITIES

Tenant is responsible for paying all utilities for the Premises, including but not limited to:

• Water

• Gas

• Electricity

• Internet

• Trash removal

Lessor shall not be liable for any interruption or failure in the supply of utilities to the Premises.

VI. MAINTENANCE AND REPAIRS

Tenant shall maintain the Premises in a clean, safe, and sanitary condition. Tenant shall promptly notify Lessor of any necessary repairs or maintenance issues. Lessor shall be responsible for repairs related to the structure and major systems of the building, unless the damage is caused by Tenant's negligence or misuse.

Tenant is responsible for minor repairs and upkeep, such as replacing light bulbs and maintaining appliances in good working condition.

VII. USE OF PREMISES

Tenant agrees to use the Premises solely for residential purposes. Tenant shall not engage in any unlawful activities or cause any disturbances that affect the quiet enjoyment of neighboring residents. Tenant shall not make alterations, improvements, or additions to the Premises without prior written consent from Lessor.

VIII. PETS

No pets shall be allowed on the Premises without the prior written consent of the Lessor. If pets are permitted, an additional pet deposit of $500.00 shall be required. Tenant shall be responsible for cleaning up after pets and ensuring that they do not disturb other residents.

IX. INSURANCE

Tenant is encouraged to maintain renter's insurance to cover personal property and liability. Lessor is not responsible for any loss or damage to Tenant's personal property.

X. ENTRY AND INSPECTION

Lessor shall have the right to enter the Premises at reasonable times for inspection, maintenance, or repairs. Lessor will provide Tenant with at least 24 hours' notice prior to entry, except in emergencies where immediate access is required.

XI. TERMINATION

This Lease may be terminated by either party upon giving 30 days' written notice. If Tenant fails to vacate the Premises at the end of the Lease term, Tenant will be liable for any rent due and for any damages arising from the failure to vacate.

Upon termination, Tenant shall return the Premises in the same condition as at the start of the Lease, less reasonable wear and tear. Lessor reserves the right to inspect the Premises before return of the security deposit.

XII. DEFAULT

In the event of a default by Tenant, including failure to pay rent, failure to maintain the Premises, or violation of any Lease terms, Lessor may terminate this Agreement and pursue all legal remedies available, including eviction.

XIII. GOVERNING LAW

This Lease Agreement shall be governed by and construed in accordance with the laws of the state of Oregon.

XIV. ENTIRE AGREEMENT

This Agreement constitutes the entire understanding between the Parties and supersedes any prior agreements or understandings, whether oral or written. Any amendments to this Agreement must be in writing and signed by both Parties.

XV. SIGNATURES

By signing below, the Parties agree to the terms and conditions outlined in this Residential Lease Agreement.

Lessor:
[YOUR NAME]
Date: December 18, 2051

Tenant:
Floyd Cremin
Date: December 18, 2051

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