RESIDENTIAL LEASE AGREEMENT This agreement, dated
July , 2012
, is between
Hillary Montgomery, Chris Riddell and John Craig, Jennifer Stuart 1. LANDLORD:
The Landlord(s) and/or agent(s) is/are John Craig and Jennifer Stuart and will be referred to in this Lease Agreement as "Landlord." 2. TENANT:
(Landlord) (Landlord)
The Tenant(s) is/are: Chris Riddell and Hillary Montgomery and will be referred to in this
Lease as "Tenant." 3. RENTAL PROPERTY:
The Landlord agrees to rent to the Tenant the property described as a house located at 25
Delmont Ave, Barre, VT 05641, with 4 bedrooms and 1 1/2 bathrooms, a two­car garage, and an outbuilding which will be referred to in this Lease as the "Leased Premises." 4. TERM OF LEASE AGREEMENT:
The Lease Agreement will begin on September 1, 2012 and will end on August 31, 2013 5. USE & OCCUPANCY OF PROPERTY:
A.
The only person(s) living in the Leased Premises is/are: Chris Riddell and Hillary
Montgomery
B.
Any change in the occupancy will require written consent of the Landlord.
C.
Any change in occupancy may be subject to an adjustment in the amount of rent.
D.
Tenant may also operate a home based business with Landlord's written permission.
The Tenant is responsible for all permits and licenses relating to this home­based business and the Tenant indemnifies the Landlord of all liability, costs, and fees associated with this business. 6. AMOUNT OF RENT:
A.
The amount of the Rent is $1650.00 to be paid monthly.
B.
The total rent for the lease term is $19,800.
C.
In consideration of early occupancy of Leased Premises, Tenants have paid the amount of $385. 7. DATE RENT IS DUE:
A.
The rent is due in advance on or before the 1st day of each month. The rent due date is the date the Landlord must receive the Tenant's payment.
B.
Rental payments are to be made payable to: John Craig or Jennifer Stuart
C.
Rental payments may be delivered to the Landlord at: 8. LATE FEE:

A.
If the rent or any other charges are not received by the Landlord on or before 5 days after the rent due date, Tenant must pay a late fee of $0 in addition to the rent.
B.
Rental payments paid late 3 times within a 12 month period creates a default of the
Lease Agreement.
C.
Payments received by Landlord when there are arrearages, shall be credited first, to any outstanding balance, and then applied to the current amount due. 9. RETURNED PAYMENTS:
A.
A returned payment fee of $25 will be added for all returned payments. A personal check will not be accepted as payment to replace a returned payment.
B.
If there are more than 2 instances of returned payments, Tenant(s) agree that the
Landlord may require all future payments to be made only by Certified Check, Money Order, or Cash.
C.
If your financial institution returns your rental payment and causes the rental payment to be late, a late charge will apply. 10. SECURITY DEPOSIT:
A.
The Tenants have paid to the Landlord a Security Deposit of $1650.00 and a pet deposit of $500.00.
B.
The Security Deposit is intended to pay the cost of damages, cleaning, excessive wear and tear, and unreturned keys once the Lease Agreement has ended and/or for any unpaid charges or attorney fees suffered by the Landlord by reason of Tenant's default of this Lease
Agreement.
C.
The pet deposit is intended to pay the cost of repairing floors for scratches or damage caused by Tenant’s two dogs.
C.
Tenant may be responsible for any unpaid charges or attorney fees, suffered by the
Landlord by reason of Tenant's default of this Lease Agreement.
D.
Under no circumstance can the Security Deposit be used as payment for rent and/or other charges due during the term of this Lease Agreement.
E.
The Leased Premises must be left in good, clean condition with all trash, debris, and
Tenant's personal property removed. The Leased Premises shall be left with all appliances and equipment in working order.
F.