Lease Agreement Residential Lease Agreement>> Page 2 of 8 lease Produced with zipForm® by zipLogix 18070 Fifteen M ile Road, Fraser, Michigan 48026 www.zipLogix.co m X X 38. All Earnest Money shall consist of immediately available funds and is subject to collection. In the event any payment for Earnest Money is 39. dishonored foranyreason, at Landlord'soption,Landlordshallbeimmediately released from all obligationsunderthis LeaseAgreement by 40. notice toTenant.Upon acceptance of this Lease Agreement by all parties, all Earnest Money shall be applied to deposits and/or initial rents. 41. Periodic Rental Due Date: The Rent and all other accrued charges shall be due and payable no later than 5:00 p.m. on the1st day 42. Of each month (regardless of weekends or holidays). Rentshall be payable in advance without deductions oroffsets.Landlord is not required 43. To accept a partial payment of Rent or othercharges. If the sales taxchanges during the term of this Lease Agreement, Landlord may adjust 44. the amount of Rent due to equal the difference caused by the tax change upon thirty (30) days notice to Tenant. 45. Rent: Tenant shall pay monthly installments of $ See Addendum A plus any applicable sales taxes, which are currently 46. $ See Addendum A , totaling $ See Addendum A ("Rent") to: Metropolitan Real Estate , 47. at: 4500 N. 32nd Street #200, Phoenix, AZ 85018 . 48. Late Charges and Returned Checks: A late charge of $ 25 per day shall be added to all Rent not received 49. by 5:00 p.m. on the due date or 3 days after due date and shall be collectible as Rent. Tenant shall pay a charge of 50. $ 100.00 for all funds dishonored for any reason, in addition to the late charge provided herein. 51. These additional charges shall be collectible as Rent. If a Rent payment has been returned unpaid for any reason, 52. Landlord shall be entitled to demand that all sums due pursuant to this Lease Agreement be paid in the form of a cashier’s 53. check or money order. 54. Late or Partial Payments: The acceptance by Landlord of any late or partial payment shall not change the due date or amount of 55. any required payment in the future and shall not relieve Tenant of any obligation to pay the balance of the Rent and any applicable 56. late fees or costs. 57. Rent Proration: If Rent is being prorated for a period other than a full month, Tenant shall pay on $ plus any MO/DA/YR 58. applicable sales tax of $ , totaling $ for the prorated period beginning and ending . MO/DA/YR MO/DA/YR 59. 60. 61. 62. 63. 64. 65. 66. Initial Rent Payment: $ See Addendum A 67. Refundable Security Deposit Due: "Security Deposit" is given to assure payment or performance under this Lease Agreement. 68. "Security Deposit" does not include a reasonable charge for redecorating or cleaning. 69. Security deposit: $ See Addendum A 70. Pet deposit: + $ See Addendum A (assistive and service animals are not considered "pets") 71. Cleaning deposit: + $ See Addendum A 72. Non-refundable Charges Due: 73. Cleaning Fee: + $ See Addendum A (for additional cleaning and sanitizing of the Premises after Tenant vacates) 74. Redecorating Fee: + $ See Addendum A (for periodic repair/replacement of floor and window coverings, paint and 75. decorative items after Tenant vacates) 76. Pet Cleaning Fee: + $ See Addendum A (for additional wear, tear and cleaning after Tenant vacates) 77. (assistive and service animals are not considered "pets") 78. Other Fee: + $ See Addendum A (for Administration Fee ) 79. Tax Due on Initial Rent and Non-refundable Charges Paid to Landlord: 80. Sales tax charged: + $ See Addendum A City rental tax rate See Addendum A% Taxable amount $ See Addendum A 81. Total Required Payment: $ See Addendum A 82. Less Earnest Money - $ See Addendum A 83. BALANCE DUE (CERTIFIED FUNDS): $ See Addendum A to be delivered to Landlord on or before Move-In MO/DA/YR 84. Refundable deposits will be held: by Landlord in Broker's Trust Account BROKERAGE FIRM NAME >> Residential Lease Agreement • Updated: February 2014 Copyright © 2014 Arizona Association of REALTORS®. All rights reserved. LANDLORD LANDLORD Page 2 of 8 TENANT TENANT Note: The ARLTA prohibits a landlord from demanding or receiving security, however denominated, including, but not limited to, prepaid Rent in an amount or value in excess of one and one-half month's Rent; however the ARLTA does not prohibit a Tenant from voluntarily paying more than one and one-half month's Rent in advance. The breakdown of the deposit amounts shown below is solely for the purpose of showing how such amounts were calculated and does not limit landlord's right to use all deposit amounts as permitted by the ARLTA. Deposits may be placed in interest-bearing accounts, which interest shall be retained by the Broker or Landlord. REFUNDABLE DEPOSITS SHALL NOT BE USED AS A CREDIT TOWARDS LAST MONTH'S RENT. SAMPLE