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RESIDENTIAL LEASE WITH OPTION TO PURCHASE

THIS AGREEMENT MADE and entered into on this
day of
,
by and between
,
hereinafter called Lessor, and
,
hereinafter
called Lessee, hereby leases to Lessee, his/her heirs or assignees, the premises situated in the
city of
, County of
, State of
, legally described as
, with the street address of

upon the following terms and
conditions:
1. Option to Purchase: In consideration of the Lessee meeting all obligations as stated herein
under this lease, the Lessor hereby grants the Lessee an option to purchase under the following
terms and conditions:
a. The option price is
terms of purchase will be:

.

The

.

b. Lessee understands that time is of the essence in this
The option will expire
agreement.
without notice and be of no further effect if not exercised on or before
,

.

c. Lessee has paid the sum of $
as a non-refundable option consideration which
will be applied toward the purchase price of the property if, and only if, Lessee exercises th