Lease With Option to Purchase

This agreement is made between __________ ("Landlord") and __________ ("Tenant") for the property at __________.

1. Lease

Tenant leases the property from __________ to __________ at $__________ per month, due on the first of each month.

2. Option Fee

In exchange for the option below, Tenant pays a non-refundable option fee of $__________, credited toward the price if the option is exercised.

3. Option to Purchase

Tenant may buy the property for $__________ by giving written notice on or before __________, provided Tenant is not in default under the lease.

4. Rent Credit

$__________ of each on-time rent payment will be credited toward the purchase price at closing. Credits are forfeited if the option is not exercised.

5. Governing Law

This agreement is governed by the laws of the State of __________.