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Late Rent Payment Agreement





Rent & Late Payment Agreement


6. Rent

The monthly rent for the initial term is _______ (the "rent").

A. Initial Rent Payments. Upon Signing this Lease, Tenant will pay Owner ________ for first month's rent (prorated if necessary).

B. Monthly Rent Payments. On the first day of each successive calendar month of the term of this Lease, Tenant will pay Owner the rent, without notice or demand.

C. Manner of Payment. Rent will be deposited directly into Owner's account at ______________________. Owner will provide deposit slips and stamped, addressed envelopes to Tenant for this purpose, and checks or money orders will be made out to Owner. If Owner does not provide deposit slips, Tenant runs out of deposit slips or a deposit is refused for any reason, Tenant will make payments to Owner's address. Tenant is responsible for ensuring that mailed payments are mailed sufficiently in advance to reach the bank on the date desired. Tenant may mail payment by sending the payment and deposit slip to

[bank address]

__________________________________

__________________________________

__________________________________


D. Late Rent Payment Agreement.

If the rent is received by Owner more than 3 days after the date the rent is due, a late fee of 10% of the rent will be applied. If any check is returned for insufficient funds, Tenant will make payment within three days of notice with a money order or cashier's check, and will include a returned check fee of $30.00. If two or more checks are returned within a six month period, Tenant will thereafter make all payments with money orders or cashier's check.





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