The Contingency Lease Agreement serves as a critical tool in real estate transactions where certain conditions must be satisfied before a lease can take effect. This document type is particularly valuable when parties need to secure specific requirements or meet certain obligations before committing to a full lease term. The agreement typically includes detailed descriptions of the contingencies, timeframes for meeting conditions, and consequences of failure to meet these requirements. Under U.S. jurisdiction, these agreements must comply with federal housing laws, state-specific property regulations, and local ordinances, while providing clear terms for both parties' obligations and rights.
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1. Parties: Identification of landlord and tenant, including legal names and addresses
2. Background: Context of the agreement and purpose of the contingency lease
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the leased premises
5. Contingency Terms: Specific conditions that must be met for the lease to become effective
6. Lease Term: Duration of the lease and key dates
7. Rent and Payment Terms: Rental amount, payment schedule, and methods
8. Security Deposit: Amount, terms, and conditions for return
9. Termination Provisions: Conditions and process for early termination
1. Utilities and Services: Optional section detailing responsibility for utilities and services when not included in rent
2. Subletting Provisions: Optional section specifying terms for subletting the property when permitted
3. Pet Policy: Optional section defining rules regarding pets on the property when relevant
4. Insurance Requirements: Optional section outlining specific insurance coverage requirements when needed
1. Schedule A - Property Inventory: Detailed list of furniture and fixtures included in the lease
2. Schedule B - Property Condition Report: Documentation of property condition at lease start
3. Schedule C - Building Rules: Specific rules and regulations for the property
4. Schedule D - Maintenance Schedule: Regular maintenance responsibilities and schedule
5. Appendix 1 - Floor Plan: Detailed floor plan of the leased premises
6. Appendix 2 - Contact Information: Emergency contacts and property management details
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