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THE WHITNEY APARTMENTS
LEASE AGREEMENT
This Lease Agreement (the “Lease”) is made and entered into this ___ day of _________,
201__, by and between Overstreet Property Management, LLC for and on behalf of itself and
High Cotton Development, LLC (“Landlord”) and ________________________________________
___________________________________________________(“Tenant”).
I.
PRELIMINARY STATEMENT
Any Tenant who is under the age of twenty-one (21) at the time this Lease is executed
(“Minor Tenant”) must have a guarantor to this Lease. All Minor Tenants should have his or
her parent, guardian, or other legal advisor or guarantor review this Lease before agreeing to its
terms. All Tenants are urged to carefully examine the contents of this Lease before signing their
names hereto.
In the event the Lease for the Leased Unit is shared by multiple tenants, each tenant will
be jointly and severally responsible for upholding the terms and conditions of this Lease. This
is a binding legal document, and Tenant may be liable for the Total Lease Cost should another
tenant sharing the Lease for the Leased Unit fail to make his or her part of the Lease payment(s).
Each individual Tenant will be solely responsible for his or her own obligations relating to the
Application Fee and the Security Deposit.
II.
TERMS OF LEASE
1. Leased Property. Landlord hereby leases unto Tenant, and Tenant hereby leases
from Landlord, the certain dwelling located at ___________________________________________
(the “Leased Unit”).
2. Term. This Lease shall be for a term of __ months, commencing at 12:00 p.m. on
______________, and continuing until 11:59 a.m. on ______________ (the “Term”).
3. Renewal. This Lease may be extended or renewed upon the execution, by both
Landlord and Tenant, of a lease agreement for a term subsequent to the Term provided herein.
4. Holdover. Should Tenant hold over and remain in possession of the Leased Unit
after the expiration of the Term of this Lease without executing a subsequent lease agreement,
and without otherwise obtaining written consent from Landlord, Landlord may, at its option,
take either of the following actions:
a. deem Tenant’s holdover to be a renewal of this Lease for an additional term
of one (1) year, with the terms of any such deemed renewal to be subject to
the same terms and conditions as set forth herein or
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b. take any and all steps that may be required to remove Tenant from the
Leased Unit.
5. Rent. The total cost of leasing the Leased Unit shall be $_________ (“Total Lease
Cost”). Tenant’s obligation to pay the Total Lease Cost shall be satisfied by paying to Landlord
in equal installments in the form of a monthly rental fee of $_________ (“Rent”). Tenant’s Rent
shall be due on the first day of each month of the Term of this Lease. This Lease shall be the
only notice required from Landlord of Tenant’s recurring obligation to pay Rent, and Landlord
shall not hereafter be required to provide Tenant with notice or demand for Rent. All Rent
payments shall be payable to “Overstreet Property Management, LLC” and shall be delivered to
the following address:
Overstreet Property Management, LLC
Attn: Office
Inquiries regarding Rent may be made to the property manager by calling (662) 323-8618 or
emailing overstreetproperties@yahoo.com.
6. Late Fees, Returned Checks. Should Tenant fail to make a Rent payment on or
before 5:00 p.m. on the 5th day of the month in which it is due, Tenant shall be obligated to pay
a late charge equal to $10.00 per day for each day the Rent remains unpaid following the 5th
day of the month. Tenant shall be obligated to pay an additional $30.00 charge on all returned
checks to Landlord. Landlord reserves the right to require Tenant to satisfy all payment
obligations described in this Lease by cash or money order should any check be returned to
Landlord as referenced herein.
7. Application Fee. Tenant shall be required to pay to Landlord an application fee
in the amount of $35.00 (“Application Fee”). The Application Fee is a nonrefundable
administrative cost and will not be refunded to Tenant under any circumstances, including, but
not limited to, Tenants termination of this Lease by failing to return the signed original Lease to
Landlord by ________________.
8. Security Deposit. Upon execution of this Lease, Tenant shall be required to pay
to Landlord a security deposit in the amount of $_________________ (“Security Deposit”).
Upon termination or expiration of this Lease, Landlord may retain any portion of the Security
Deposit as is required to cure any default by Tenant as to this Lease. Landlord shall also retain
a minimum cleaning fee of $______ and electricity fee of $______ from the Security Deposit;
these fees may be increased if Tenant does not surrender the Leased Unit in a condition that is
approved by Landlord. Landlord may retain all or part of the Security Deposit when necessary
to replace items for or related to the Leased Unit or to have the Leased Unit professionally
cleaned, repaired, and painted as necessary to relet the Leased Unit in the same condition as it
existed at the beginning of the Term of this Lease. Any amount remaining of the Security
201B S Lafayette St.
Starkville, MS 39759
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Deposit following Landlord’s allowed retentions shall be returned to Tenant within forty-five
(45) days after the expiration of this Lease only if Tenant has complied with all the terms of this
Lease, including, but not limited to, surrendering the Leased Unit in the same condition as on
the date of the execution of this Lease, less ordinary wear. Tenant shall be responsible for
paying the cost of any repairs or cleaning beyond the amount of the Security Deposit. Tenant
shall be charged an additional fee of $50.00 upon failure to return each key provided to Tenant
at the commencement of the Term of this Lease. Tenant shall under no circumstances cause a
duplicate to be made of the key(s) provided to him or her by Landlord.
9. Inspection, Condition. Tenant acknowledges that the Leased Unit is being
delivered to Tenant “AS IS,” and Tenant’s acceptance and occupancy of the Leased Unit
constitute an acknowledgement that the Leased Unit is in good and acceptable condition.
Tenant agrees to maintain the good condition of the Leased Unit, and shall be responsible for
cleaning and repair costs required as a result of the misuse, neglect, or other act of fault of
Tenant or anyone on or about the premises of the Leased Unit at the invitation of Tenant.
Tenant shall not make changes or alterations to the Leased Unit, including but not limited to
those related to painting or making structural alterations to the interior or exterior of the Leased
Unit or installing or changing any locks on the Leased Unit, without the written consent of
Landlord. Tenant agrees that Tenant will not disable, disconnect, alter, or remove the smoke
detectors, locking devices, fire extinguisher, or latches on or around the Leased Unit. Tenant
further agrees not to place or hang any object on the outside of the Leased Unit, including on or
around any window sills, balconies, or walkways. Tenant further agrees not to erect signs of
advertising notices in, on, or about any part of the interior or exterior of the premises of the
Leased Unit, including all parking areas and other property owned by Landlord around or
adjacent to the Leased Unit.
10. Repairs. Tenant shall promptly report to Landlord any repairs or other services
Tenant believes to be required for the Leased Unit. Tenant must immediately notify Landlord
of any conditions that may be hazardous to property, health, or safety, including, but not
limited to, water leaks, mold, electrical problems, malfunctioning lights, malfunctioning or
damaged utilities, or broken or missing locks, latches, doors, windows, or smoke detectors.
Landlord reserves the right to respond to reports of any of the above-named conditions as
Landlord deems appropriate.
11. Smoking. No smoking shall be permitted inside the Leased Unit. Smoking
inside the Leased Unit will result in termination of the Lease and a $500.00 fine.
12. Consent to Entry. Tenant hereby grants Landlord the right to have any of its
agents, janitors, or other employees or representatives, including those related to pest control
services or repair services, enter the Leased Unit at any time for the purpose of maintaining the
Leased Unit, inspecting the Leased Unit, showing the Leased Unit to prospective purchasers, or
for any other emergency-related purposes. Landlord will inspect the condition of the Leased
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Unit from time to time as necessary. If the Leased Unit is not in reasonably good condition,
Landlord may, at its option, deem Tenant to be in default under the terms of this Lease.
Landlord will, in non-emergency situations, attempt to give advance notice of entry to Tenant
when practicable, but Landlord shall not be required to give advance notice of entry.
13. Assumption of Risk. Tenant hereby assumes the entire risk of any damage to
Tenant’s property that is located on the premises of the Leased Unit, including such property in
storage areas, parking areas, or any part of the property owned by Landlord or as may be
provided by Landlord. Landlord provides no insurance coverage for Tenant’s property, and
Landlord strongly recommends that Tenant obtain appropriate insurance coverage for Tenant’s
possessions. Tenant further authorizes Landlord to store, remove, or otherwise dispose of any
of Tenant’s personal property that is in an unauthorized area on or about the premises of the
Leased Unit, or that is left in the Leased Unit following the termination or expiration of this
Lease. Tenant hereby waives any claim for damages resulting from any such disposition or
removal of Tenant’s property by Landlord or its agent.
14. Occupation of Leased Unit. Tenant agrees that no more than ____ adults and
_____ children will reside in the Leased Unit at any time. Tenant further agrees that Tenant
shall at all times comply with all present and future laws in the occupation of the Leased Unit,
and that Tenant’s occupancy shall otherwise remain peaceful and proper. If at any time Tenant
has an illegal substance on the premises of the Leased Unit, this Lease shall be immediately
terminated, and the balance of the Total Lease Cost shall become immediately due and payable
to Landlord, subject to such adjustments as provided by law. Neither Tenant nor anyone on the
premises of the Leased Unit at the invitation or sufferance of Tenant shall create a nuisance or
disturbance or otherwise disturb the tranquility and peaceful occupancy of Landlord’s other
tenants or other persons in the general area of the Leased Unit. Any Tenant who violates the
terms of this subsection by incurring a noise violation or otherwise creating, or allowing to be
created by an invitee or licensee of the Tenant, excessive noise will be required to pay a $100.00
fine to Landlord for the first violation and $200.00 for a second violation; a third violation will
result in Tenant being in default, entitling Landlord to all associated rights thereto.
15. Use of Balconies. Tenant understands that the maximum capacity for the
Leased Unit’s balcony is two (2) adults or 600 pounds. Tenant hereby agrees not to exceed the
maximum capacity of the Leased Unit’s balcony and hereby assumes the entire risk of any
damages or injuries that may occur if the balcony’s maximum capacity is exceeded. Tenant
agrees not to place or hang articles of clothing, towels, signage, or other belongings on, in, or
around the Leased Unit’s balcony at any time. No charcoal grills shall be allowed in the Leased
Unit or on the Leased Unit’s balcony, and any grills shall be limited to small electric grills or
tabletop propane grills using propane tanks weighing 16.4 ounces or less.
16. Assignment, Subleasing. Tenant shall not assign this Lease or sublet the Leased
Unit, in whole or in part, without the prior written consent of Landlord. Landlord shall not
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unreasonably withhold its approval for a sublease, provided that Tenant shall remain primarily
liable for the payment of Rent and for the performance of all other terms and conditions of this
Lease. No assignment shall be construed as a release of Tenant’s obligations under the terms
and conditions of this Lease, and Landlord’s acceptance of rent from anyone other than Tenant
shall not release Tenant from Tenant’s Rent and Total Lease Cost obligations defined herein.
Landlord reserves the right to transfer, sell, or assign its obligations and rights under this Lease
at any time without prior approval from Tenant. Tenant will be provided notice of any such
transfer, sale, or assignment affecting the terms of this Lease or Tenant’s payment obligations
and shall thereafter be obligated to any such transferee, purchaser, or assignee for the
performance of obligations under the terms of this Lease.
17. Guests. A temporary visitor of Tenant may not inhabit the Leased Unit for more
than ten (10) consecutive days without the knowledge and consent of Landlord.
18. Pets. If at any time Tenant desires to have a live animal or pet of any nature on
or about the premises of the Leased Unit, Tenant must first obtain written consent from
Landlord and pay to Landlord an initial nonrefundable pet fee in the amount of $250.00.
Tenant must also pay an additional $25.00 monthly fee to Landlord for each month of the Term
that Tenant has a live animal or pet on or about the premises of the Leased Unit, said $25.00
monthly fee to be added to Tenant’s monthly Rent and to be subject to the same terms as
contained in subsection 5 herein. Tenant shall not at any time have more than one animal in the
Leased Unit, and any such animal approved by Landlord is subject to height and / or weight
restrictions imposed at Landlord’s discretion. Landlord may, in Landlord’s sole discretion, for
any reason or no reason at all, withhold its consent for Tenant to maintain a live animal or pet
on or about the premises of the Leased Unit. If, at the expiration or termination of this Lease,
there are any damages to the interior or exterior of the Leased Unit caused by Tenant’s live
animal or pet, all costs related to repairing said damages will be withheld from Tenant’s
Security Deposit. If the costs of repairing said damages exceed the Security Deposit funds
available, Tenant shall pay the difference to cover all such damages.
19. Indemnification. Tenant shall be responsible for the safety, negligence, and
actions of any guest, invitee, or licensee of Tenant, and Tenant agrees to indemnify Landlord
and its affiliates, officers, directors, shareholders, employees, principals, and agents against all
losses incurred as a result of (i) Tenant’s failure to fulfill any term or condition of this Lease; (ii)
any injury or loss relating to Tenant’s use and occupancy of the Leased Unit; (iii) any damages
or injuries occurring in or around the premises of the Leased Unit to Tenant’s guests, invitees,
or licensees or their property; (iv) and Tenant’s failure to comply with applicable laws or
regulations. Tenant further agrees to be responsible for and indemnify Landlord and its
affiliates, officers, directors, shareholders, employees, principals, and agents against any and all
damages caused by Tenant’s pet(s) on or about the premises of the Leased Unit, including
damages to both persons and property.
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20. Utilities and Services. Included in Tenant’s Total Lease Cost and Rent are the
costs for water, sewer, and trash pickup services for the Leased Unit. Landlord will provide
access to electricity, cable, phone, and internet, but Tenant will be responsible for managing and
paying for electricity and for optional cable, phone, and internet services. All electricity shall be
serviced through Starkville Electric Department.
21. Garbage, Grounds Maintenance. Tenant’s garbage must be placed in the
dumpster provided, if any, or if no dumpster is provided, then at the curb for pick-up by the
City of Starkville only on the days set by the city, and never before or after those set days.
Tenant shall not place garbage outside the front of the Leased Unit or on the Leased Unit’s back
patio. Tenant shall be responsible for maintaining any grounds of the Leased Unit, and any
failure to properly maintain those grounds will result in a fine to be determined by Landlord or
the City of Starkville.
22. Default. Tenant shall be in default if Tenant fails to pay Rent when due under
this Lease, is the subject of a petition for relief under the United States Bankruptcy Code,
generally fails to pay his or her debts when due, or defaults or breaches any of the covenants or
agreements herein contained. In the event of default, Landlord may, at its election, take any of
the following actions: (i) terminate this Lease; (ii) re-enter the Leased Unit without legal process
and without prejudice to or waiver of any remedy or remedies that Landlord may have for Rent
or otherwise; (iii) accelerate all amounts owed under this Lease, including the Total Lease Cost,
and deem them immediately due and payable, subject to such adjustments as provided by law;
(iv) take any action to remedy Tenant’s default; or (v) take any other action consistent with law
or this Lease. In the event of default, Tenant agrees to pay Landlord all its attorneys’ fees, court
costs, and any other expenses incurred in the collection of any Rent or the enforcement of any
covenant or agreement contained herein.
23. Termination. Tenant shall have no right to terminate this Lease before the end
of the Term and will not be relieved of the obligations of this Lease under any circumstances.
24. Security. Landlord makes no representations as to the safety of the Leased Unit,
and Landlord neither warrants nor guarantees the safety or security of Tenant or Tenant’s
guests or invitees against any criminal or wrongful acts of third parties. Landlord shall not be
liable for any injuries or damages caused by third parties, including any such injuries or
damages related to theft, burglary, battery, assault, vandalism, and other crimes. Tenant should
always contact 911 in the event of an emergency.
25. Force Majeure, Condemnation, Eminent Domain. In the event the Leased Unit
is substantially destroyed by fire, wind, or other causes beyond the control of Landlord, leaving
the Leased Unit in such a state that cannot be repaired within ten (10) days, or is condemned
and ordered torn down by the properly constituted authorities of the state, county, or city, then
in any of these events, Landlord’s obligations under this Lease shall abate as of the date of such
destruction or condemnation. The rental shall be accounted for between Landlord and Tenant
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up to the time of such damage or destruction of the Leased Unit, with Tenant paying all Rent
and fees due up to the said date and Landlord refunding any Rents collected beyond said date.
26. Effect of Waiver. If at any time Landlord chooses to waive any right given to it
pursuant to the terms and conditions of this Lease, any such instance of waiver shall not be
construed as a waiver of any subsequent breach of the same or different term or condition of
this Lease by Tenant.
27. Binding Effect. Landlord and Tenant acknowledge they have read and
understand this Lease, and that upon full execution hereof, the terms and provisions shall be
valid and binding on said parties, their heirs, and their assigns.
28. Guaranty. The undersigned Guarantor, if any, acknowledges that he or she is
issuing a personal guaranty to Landlord of the obligations and performance of this Lease by
Tenant. In the event Tenant defaults in any of the terms and obligations of this Lease,
Guarantor personally guarantees that he or she will satisfy that default and make Landlord
whole; this includes, but is not limited to, the payment of Rent, late payments and other fees,
attorneys’ fees, costs, expenses, damages, and losses sustained by Landlord.
29. Gender, Number. It is acknowledged that as used herein, the singular shall
include the plural and the masculine shall include the feminine, and vice versa, as the context
may require.
30. Complete Agreement. This Lease contains the entire agreement of Landlord and
Tenant. No change, addition, or modification of the terms and provisions hereof shall be valid
unless it is in writing and has the signed approval of Landlord.
31. Governing Law. This Lease shall be governed by and construed in accordance
with the laws of the State of Mississippi.
32. Captions. The captions and headings in this Lease are inserted only for
convenience and shall not be construed or interpreted to affect the scope or intent of this Lease.
33. Severability. If any of the terms of this lease are deemed to be invalid, it shall
have no bearing on the binding nature of the remaining terms of this Lease.
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LANDLORD:
Overstreet Property Management, LLC
for and on behalf of itself and High Cotton Development, LLC
______________________________ ____________________________ ____________
Signature Print Name Date
______________________________
Title
TENANT:
______________________________ ____________________________ ____________
Signature Print Name Date
______________________________ ____________________________
Permanent Street/Mail Address Cell Phone Number
______________________________ ____________________________
Permanent City, State Email Address
______________________________ ____________________________
Social Security Number Date of Birth
____________________________ ____________________________
Emergency Contact Emergency Contact Phone
(Required if Tenant Under 21 Years Old)
GUARANTOR:
______________________________ ____________________________ ____________
Signature Print Name Date
______________________________ ____________________________
Permanent Street/Mail Address Relationship to Tenant
______________________________ ____________________________
Permanent City, State Email Address
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TENANT:
______________________________ ____________________________ ____________
Signature Print Name Date
______________________________ ____________________________
Permanent Street/Mail Address Cell Phone Number
______________________________ ____________________________
Permanent City, State Email Address
______________________________ ____________________________
Social Security Number Date of Birth
____________________________ ____________________________
Emergency Contact Emergency Contact Phone
(Required if Tenant Under 21 Years Old)
GUARANTOR:
______________________________ ____________________________ ____________
Signature Print Name Date
______________________________ ____________________________
Permanent Street/Mail Address Relationship to Tenant
______________________________ ____________________________
Permanent City, State Email Address