550 S Forest St #2-2-202

Lease terms

LEASE TERMS 1. Lease Term The Landlord offers lease terms of either: One (1) Year (12 Months), or Two (2) Years (24 Months) The selected lease term shall be identified in this Lease Agreement. The lease shall commence on the agreed-upon start date and terminate on the agreed-upon end date unless renewed, extended, or terminated pursuant to the terms of this Agreement. 2. Rent and Initial Payments Upon execution of this Lease Agreement, Tenant shall pay: First Month's Rent: $3,000.00 Security Deposit: $3,000.00 All future rent payments shall be due on the first day of each month unless otherwise agreed in writing by the Landlord. 3. Security Deposit Tenant shall deposit with Landlord the sum of Three Thousand Dollars ($3,000.00) as a security deposit to secure Tenant's faithful performance of all terms and conditions of this Lease. The security deposit may be used by Landlord to cover unpaid rent, damages beyond normal wear and tear, cleaning costs, unpaid utility charges, or other amounts owed under this Lease. Any remaining balance shall be returned to Tenant in accordance with applicable state law after Tenant vacates the Property. 4. Utilities Tenant shall be solely responsible for establishing, maintaining, and paying all utility services associated with the Property during the lease term, including but not limited to: Electricity Natural Gas Water Sewer Trash and Recycling Internet Cable or Satellite Services Any other utility or service used by Tenant All utility accounts shall be transferred into Tenant's name no later than the lease commencement date. 5. Late Payments Rent is due on the first (1st) day of each month. Pursuant to Colorado law, no late fee shall be charged unless rent remains unpaid for at least seven (7) calendar days after the due date. If rent is not paid within seven (7) calendar days of the due date, Tenant shall be assessed a late fee equal to the greater of: Fifty Dollars ($50.00); or Five Percent (5%) of the amount of rent that remains unpaid. Late fees shall be assessed only as permitted by Colorado law and only if disclosed in this Lease Agreement. No interest shall accrue on late fees. A late fee shall not be imposed more than once for the same late payment except as otherwise permitted by Colorado law, and the total late fee charged shall not exceed the maximum amount allowed by law. Failure to pay a late fee alone shall not constitute grounds for eviction or lease termination. Landlord shall provide written notice of any assessed late fee within the time period required by Colorado law. 6. Maintenance and Repairs Tenant shall keep the Property clean and sanitary and promptly notify Landlord of any maintenance issues or needed repairs. Tenant shall be responsible for damages caused by Tenant, Tenant's guests, or occupants beyond normal wear and tear. 7. Pets No pets shall be permitted on the Property without the prior written consent of Landlord. Any approved pets may be subject to additional fees, deposits, or rules established by Landlord. 8. Lease Renewal At the expiration of the lease term, the Lease may be renewed upon mutual written agreement of the parties. If no renewal agreement is executed, tenancy shall terminate on the lease expiration date unless otherwise required by applicable law. 9. Default Failure to pay rent, maintain utilities, comply with lease terms, or otherwise perform obligations under this Lease may constitute a default and may result in termination of the tenancy and other remedies available under applicable law.