MEMORANDUM OF
LEASE OPTION AGREEMENT
This LEASE AGREEMENT WITH OPTION TO PURCHASE REAL ESTATE
(hereinafter referredto as the “
Lease/Option
”)Is made on this _________ day of ____________________________, 20_______,
BETWEEN:
____________________________________________________________________________ and ornominee.Address: ________________________________________________________________________________ _____________________ Phone: _________________ Fax: _________________ Email: _________________ (hereinafterreferred to as the “
Tenant/Buyer
”);And _________________________________________________________________________________________ Address: ________________________________________________________________________________ _____________________ Phone: _________________ Fax: _________________ Email: _________________ (hereinafter referred to as the“
Landlord/Seller
”).
DESCRIPTION:
The Landlord/Seller agrees to lease, and the Tenant/Buyer agrees to rent thereal Property andimprovements, located at: _________________________________________________________________________________ Legal Description: _________________________________________________________________________________ (hereinafter referred to as the "
Property
".)
(1) TERM:
The term of this Lease/Option shall be for a period of ___________ months commencingon _______________________, 20___, and ending on ______________________________, 20 ____.During this term the Tenant/Buyer can exercises the option to purchase the Property.
(2) ADDITIONAL TERMS AND CONDITIONS:
(A) The Landlord/Seller may not assign, convey, lease, sell, transfer, mortgage, orotherwise encumber the Property or any part thereof, nor shall the Landlord/Sellerdo, suffer or permit any act deed, or omission which might diminish or encumberthe rights of the Tenant/Buyer or the ability of the Tenant/Buyer to performobligations in accordance with the term of the Lease/Option agreement.(B)The Landlord/Seller will supply forthwith to the Tenant/Buyer copies of all mortgagedocuments, real property report, environmental reports, letters of Bank andMortgage Information, disclosure statements, tax notices, and any other documentsrelevant to property.
IN WITNESS WHEREOF
, the Parties have executed is
MEMORANDUM OF
LEASE OPTIONAGREEMENT
Landlord/Seller
: ___________________________________________________
DECLARED BEFORE ME AT THE _____________ OF
Signature of
Landlord/Seller
________________ IN THE PROVINCE OF ALBERTATHIS _________ DAY OF ________________, _____.
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