The LANDLORD, _____________ and ______________, the TENANT agree:
In consideration of a deposit of $ ______ (___________ &___/100 dollars) which shall be credited toward the first month’s rent under a certain lease described below, and receipt of which is hereby acknowledged, the parties mutually agree as follows:
The parties shall make, sign, execute and deliver a certain lease for the subject premises which is more particularly described as:
The execution and delivery of the lease shall take place on:
The LANDLORD shall prepare the lease, which shall contain the usual and customary clauses within the community.
In the event of the TENANT’s failure to execute the lease, the parties agree that the exact amount of damages to be suffered by the LANDLORD are difficult to fix, and that upon a breach by the TENANT, the LANDLORD shall be entitled to the deposit made as liquidated damages, and not as a penalty.
Agreement to Execute Lease & Deposit Receipt
This review list is provided to inform you about this document in question and assist you in its preparation. This is a friendly agreement intended between the parties to memorialize the meeting of the mind on a lease agreement and receipt of a deposit.
1. Make multiple copies. Keep one in the transaction file.
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