standardlease

Lease Terms:

From _________________

Lease Start Date

To: ________________

Lease End Date

(Unless earlier terminated pursuant to this Lease)

Lease Type: Standard

The lease form you download is for informational purposes only and should not be relied upon by prospective or current residents. Not every Main Street, L.I., LLC’s Community uses the same Lease form. In addition, Communities that use the Lease form shown here may change certain provisions.

RESIDENTIAL LEASE AGREEMENT

NEW YORK

Welcome to Main Street, L.I., and Properties’ apartment community.

We are committed to doing our best to provide a quality living environment and have you take pride in your new home. We provide welcome packages to introduce you to area services, social activities to help you get acquainted with your neighbors and regular newsletters to keep you in touch with community activities and other community matters. You will be treated fairly, honestly and courteously by a team of caring and qualified people.

This Residential Lease Agreement ("Lease") is a contract which sets forth your rights and obligations as a resident of the community and our rights and obligations as the manager of the community.

Manager:

Resident Names:

Main Street, L.I. Properties Name: _____________________________

P.O. Box 239

Oyster Bay, NY 11771 Name: _____________________________

The words "we", "us" and "our" in this Lease mean the Manager.

The words "you" and "yours" in this Lease mean all of the Residents listed above, and also include any occupants listed in paragraph 3 below

We agree to rent to you, and you agree to rent from us the apartment known as:

Community Name:

Apartment Address:

City:

State: Zip:

Name: _____________________________

The word "Community" in this Lease means the entire apartment complex. The word "Apartment" means your apartment identified above. The addresses set forth above for us and for you are the addresses where notices are to be sent under this Lease.

Monthly Rent:

Monthly Rent $______________

Net Rent $______________

(Monthly Rent Due)

Pro-rated Rent $______________

For period from ___________ to ____________

Deposits (Refundable)

Security Deposit $______________

Other Charges (Non-refundable)

Application Fee $______________

Resident Initial: _________Date: _________

Agreed and Understood:

Resident Initial: _________Date: _________

A. Part A of this Lease sets forth our obligations as Manager:

1. Utilities and Amenities. We will provide and pay for the following in the apartment:

Heat Hot Water Electricity

Water Sewer Basic Cable

Return of Security Deposit. Your security deposit will be returned to you after your Lease has ended and if you have met the following conditions:

You have vacated your Apartment;

You have paid the rent and other charges due under the Lease;

You have given us proper notice of your leaving;

You have removed your personal property and have left the Apartment in good and

clean order, except for ordinary wear and tear.

If we retain some or all of your security deposit, we will notify you at the forwarding address you provide of the reasons we withheld part or all of your security deposit. We will send you notice and/or return your security deposit within the time set forth in the State Law Provisions attached to this Lease.

Entering the Apartment. We may enter your Apartment in order to make repairs or inspect or to show the Apartment to possible or actual purchasers, mortgage lenders, possible future residents, appraisers, workmen or contractors. We do respect your privacy and will attempt to notify you before entering your Apartment, except in cases of emergency. We may enter the Apartment at any time without your consent, at our sole discretion, in case of emergency. You acknowledge that in some cases we will need to enter your Apartment to handle an emergency or make ordinary repairs to another apartment or part of the building in which the Apartment is located. If you contact us to request a repair, then we are not required to notify you of our responding service call.

Repairs. We will promptly respond to your maintenance requests and will correct any routine maintenance items within twenty-four (24) hours or on the next business day. However, our responsibility to make repairs is limited as described in Part C, Section 9 below.

Insurance. We will insure the Community in accordance with reasonable commercial practices.

Please note that your personal property is not insured by us and you must obtain renter's insurance in order to have coverage for your personal property. Note also that our insurance will not cover your time and inconvenience in the event of damage or destruction to the Apartment or the Community.

Agreed and Understood:

Resident Initial: _________Date: _________

Delivery of Possession. We will deliver the Apartment to you as of the beginning date of the term. If the Apartment is not ready for you to move in as of that date, you may terminate this lease. Alternatively, if you wish to wait until the apartment is ready, you will not have to pay rent until we notify you that the Apartment is ready. When we notify you that the Apartment is ready, your obligation to pay rent shall begin.

Condition of Apartment and Community. The Apartment will be clean and habitable and prepared to your satisfaction when you move in. Subject to your obligations set forth in part B, Section 6, we will maintain the Apartment in habitable condition during the term of the Lease. We will maintain common areas and parking areas within the Community.

B. Part B of this Lease sets forth your obligations as Resident:

Rent. You agree to pay us rent in the amount set forth above (on page 2). Rent must be paid in monthly installments on the 1st day of each month. Rent must be paid in full and no amount may be subtracted from it.

All rent and security deposit payments must be made by check or money order. Rent must be paid at our address set forth on the first page of this Lease, or at such other place as we may notify you in writing.

Any sum you are required to pay us under this Lease in addition to monthly rent shall be additional rent.

Late Fees. If you fail to pay the rent in full before the end of the day of the month, you will pay us, as additional rent, a late fee of 10% after the 5th of the month and an additional _____ if you pay after the ________ of the month. The late fee is due on the ________of the month and any additional late fee is due on the ______ of the month.

We do not waive the right to require payment of rent in full on the date it is due.

Returned Checks. You will pay us, as additional rent, a fee of $35.00 for all returned checks. If your rent check is returned, you will pay the rent and the applicable late fees and charges by money order or certified check. If your rent check is returned more than ______ times in any ______ month period, we may require that you pay all rent and other charges by money order or certified check.

Habitual Late Payment of Rent. You acknowledge that your habitual late payment of rent is a material default under this Lease, even if you eventually pay the rent. We are entitled to terminate this Lease for your failure to pay rent on time on more than _________ occasions within any _______ month period.

Security Deposit. You have deposited with us the amount set forth above (on Page 2) as a security deposit. Your security deposit will be held in an account in M&T Bank. Interest on your security deposit, if any, will be paid in accordance with our policy and applicable state law, as set forth in the State Law Provisions attached to this Lease. Payment of interest on your security deposit may be modified, in accordance with changes to state laws, and we will notify you of any such changes.

You may not elect to use the security deposit as payment for any rent that you owe under this Lease.

3. Use. You will use the Apartment only for dwelling purposes. You represent to us that the following persons, and no others, will occupy the apartment:

1. ____________________________

2. ____________________________

3. ____________________________

4. ____________________________

Assignment and Sublet. You will not assign (i.e., transfer) this Lease or sublet the

Apartment without our written consent. If you assign the Lease or sublet the Apartment,

you will not be relieved from your obligations (including paying rent) under this Lease.

Check the State Law Provisions attached to this Lease and with your Community office

regarding conditions and fees which apply when you ask us to consent to an assignment

or sublease.

Utilities. You are responsible for paying for all utilities except those that are checked

in Part A, Section 1. You are responsible for setting up all accounts in your name prior to

move in and terminating all accounts prior to move out. You will be charged for your

utility usage either directly by the utility or by us or our agent. All utility charges charged

to you by us or our agent are considered additional rent. Submetering or ratio utility

billing systems will only be used where they are not prohibited by law.

You will pay all utility bills incurred during the term of the Lease by the stated due date, including any deposits, fees and increases as billed by the utility provider, (or by us or our agent in the case of utilities billed to you by us or our agent). If you fail to pay any utility bills charged to you by the utility company and we are held responsible for payment, you will pay as additional rent (collectible as rent) the amount of the utility bills, together with any applicable service charges or penalties. Furthermore, if you fail to pay any utility bill, we may pay the same on your behalf by deducting the amount of the unpaid bill from your security deposit, which you will be required to immediately replenish when billed and the same shall be considered as additional rent (collectible as rent). Your failure to make payment for utilities in a timely manner is a substantial and material breach of the Lease.

We may modify the method by which utilities are provided or billed to you (such as installing a submeter or adjusting the billing formula) on sixty (60) days prior written notice to you.

Main Street L.I. LLC shall not be liable for any loss or damage resulting from outages, interruptions, or fluctuations in utilities provided to you except as provided by law.

Maintenance. Repairs and Alterations. You will keep the Apartment and equipment

and appliances in clean, orderly and safe condition. You will not do or permit to be done

any repairs, alterations, additions, improvements, painting, decorating or wallpapering in

the Apartment or in the Community without our prior written consent. If you make any

alterations or additions without our consent, we can require you, at your cost, to remove

the alterations or additions and return the Apartment to its condition prior to the

alterations or additions. If you make any alterations or additions with our consent, those

installations will become our property. If you or your family, guests, visitors or pets

damage the Apartment or the Community, you will pay us upon demand the cost of such

repairs as additional rent.

Compliance with Laws. You will comply with all laws and regulations concerning the

Apartment and the Community. You will also require your family, guests or visitors to

comply with any laws or regulations in the Apartment or the Community. You will pay us

as additional rent the amount of any fines or penalties we are required to pay because

you or your family, guests, visitors or pets violate any law or regulation affecting the

Apartment or the Community.

Compliance with Rules and Regulations. You agree to comply with the Community

Rules and Regulations, which are attached to this Lease. We may, upon thirty (30)

days' notice to residents of the Community, modify the rules, add new rules or delete

rules. The Community Rules and Regulations are made a part of this Lease and a

breach of any Community Rule or Regulation will be a default under this Lease.

Peaceful Enjoyment. You will conduct yourself and require your family, guests and anyone you invite into the Community to act in a manner that will not disturb your neighbors' peaceful enjoyment, the Community staff or the operation of the Community. You agree not to make loud noises, disturbances,odors, nuisance or do anything else which interferes with or disturbs the rights, comfort or convenience of other residents or which interferes with or disturbs the Community staff. We are entitled to determine whether you have violated this section.

10.

Renter's Insurance. You are urged to carry renter's insurance on your personal

property as we cannot and do not insure your personal property against loss.

11.

Pets. Pets are not allowed in your Apartment or on the Community grounds without our

written approval. Having an unauthorized pet in the Apartment or on the Community

grounds is a substantial default under this Lease, except for guide dogs or other

assistance animals for disabled residents.

If we have given permission for you to have a pet in the Apartment, see the Pet Agreement attached to this Lease for our permission and the terms and conditions that apply.

Part C of this Lease sets forth other provisions and other obligations of yours and ours.

Damage to Apartment or Community.. If the Apartment is so damaged by fire, storm

or other casualty that it is uninhabitable, then this Lease shall end as of the date of the

casualty and rent shall be paid up to the date you vacate the Apartment.

However, if the Apartment is damaged by casualty but remains habitable, then this Lease shall continue, but your rent shall be reduced in proportion to those rooms within the Apartment which are not habitable until the Apartment has been repaired. Decks or balconies and other nonessential elements of the Apartment shall not be counted in determining the habitable parts of the Apartment.

If any part of the Community is damaged by casualty, even if the Apartment is not damaged, we have the right upon thirty (30) days' notice to you to end this Lease. The Lease will end as of the date specified in our notice to you and you will vacate the Apartment on or before that date.

If the Apartment or any part of the Community is damaged or destroyed by fire or other casualty resulting from any negligent act by you or any of your family, guests or visitors, you are liable to us for the costs of any such damage and you shall upon demand pay us such costs as additional rent.

Condemnation. If any part of the Community is condemned by a governmental

authority, we have the right upon thirty (30) days' notice to you to terminate this Lease.

The Lease will terminate as of the date specified in our notice to you and you will vacate

the Apartment on or before that date. You will not be entitled to any payment from the

government because of such condemnation except for moving expenses, if applicable.

Notice to Vacate at End of Lease Term. You must give us at least ________ days written notice of your intention to vacate the Apartment at the end of the term. If you fail to give this notice, you will be held liable for rent for the period for which you failed to give us notice. Please note that you are not permitted based on this section to give us notice that you will leave prior to the end date of this Lease (on page 2).

End of Lease Term. You shall vacate the Apartment at the end of the term of the

Lease. You must remove all items of personal property and leave the Apartment in good

and clean order, except for ordinary wear and tear. Failure to leave the Apartment in

good and clean order, except for ordinary wear and tear, may result in our retaining part

or all of your security deposit and assessing charges for damages in excess of the

security deposit amount. Any personal property you leave behind after you vacate the

Apartment shall become our property and we may dispose of that property at your cost,

as permitted by law.

Failure to Vacate at End of Lease Term. In the event you do not vacate the Apartment at the end of the term, we may use legal process to remove you. Or, if we accept rent for any period after the end of the Lease term, then you shall be deemed a holdover Resident and your tenancy shall be month-to-month, with monthly rent at $____________, plus an additional monthly fee of $___________. Either you or we can terminate the month-to-month lease as of the last day of any calendar month by giving one calendar month’s written notice to the other party.

Default. You will be in default under this Lease if you do any of the following (any of which shall be considered a default of a substantial obligation):

You fail to pay rent or additional rent on time; or

You assign this Lease or sublet the Apartment without our written consent; or

You violate any term of this Lease or the Rules and Regulations or you fail to do

the things you agree to do under this Lease; or

You or your family, guests or visitors engage in illegal, improper or objectionable

conduct.

Consequences of Default. If you are in default under this Lease, we may terminate this Lease by giving written notice to you in accordance with local law. The Lease will end on the date given in our notice to you. On or before that date you must leave the Apartment and give us the keys. However, you remain responsible for all rent, additional rent and other charges.

If your Lease is terminated or you fail to pay rent or additional rent on time, we may turn you over to a collection agency and/or we may bring legal action against you to recover possession of the Apartment and any money you owe us.

Consequences of Early Termination of Lease. Please check the State Law Provisions attached to this Lease and with your Community office for any special policies or laws which may allow you to terminate your Lease early.

If the Lease is ended or you vacate the Apartment before the end of your Lease term, rent and additional rent for the remainder of the Lease term will become immediately due and payable. If we re-rent the Apartment to a new resident before your Lease term has ended, any rent we receive will be applied as a credit to the money you owe us. You will be responsible for a turnover fee to reimburse us for the costs of making the Apartment ready for a new resident at an earlier date than we planned, including but not limited to, repainting, repairing and advertising costs.

Legal Expenses. If permitted by law, you will reimburse us for all of our court costs and reasonable attorneys' fees we incur as a result of any legal action we bring against you for any reason (including an action for eviction or an action for your failure to comply with any of your obligations under this Lease). Such costs and fees will be additional rent.

Notice. If you wish to give us notice, you must do so in writing and by personal delivery or certified or registered mail, return receipt requested, at the Community address listed on the first page of this Lease or at such other address as we may, from time to time, designate.

If we wish to give you notice, we (or our agent or attorney) may do so by delivering the notice to your Apartment or by mailing the notice to you at your Apartment. If more than one person is listed as Resident, one notice will be sufficient for all Residents.

Limited Liability. We are not liable for any loss, expense or damage to you, your

family, friends or invitees for any personal injury or property damage, unless such

damage or injury resulted from our negligence or the negligence of our employees,

contractors or agents. Our failure to make repairs or to make repairs on time or to

otherwise perform as required by this Lease is excused in all circumstances when

caused by natural disaster, labor disturbance or other events beyond our control.

10.

Miscellaneous.

You represent that all statements you made on your application and in this Lease

are true and correct. You will be in default under this Lease if any statement you

made is or becomes untrue.

If more than one of you signs this Lease, then each of you agrees to be jointly

and severally liable for your obligations under this Lease. This means that we

can collect the full amount of rent owed from any one of you.

Our failure to enforce any provision of this Lease shall not prevent us from

enforcing such provision at a later time.

This Lease may be changed only by a written agreement signed by both parties,

except the Community Rules and Regulations (attached to this Lease) which

may be modified by us as described therein.

This Lease is binding on you and us and our respective successors, assigns,

heirs, executors, administrators and personal representatives.

If any provision of this Lease is unenforceable, the rest of the Lease will be

unaffected.

This Lease is and shall be subject and subordinate to all ground and underlying

leases and to all mortgages, which may now or later affect such leases or the

Community and to all renewals, modifications, consolidations, replacements and

extensions of any leases or mortgages.

We are the property manager and agent for the Owner. The Owner is:

Main Street, L.I., LLC, P.O. Box 239, Oyster Bay, NY 11771

11.

Attachments. The schedules, addenda or agreements marked with an "X" are attached

here to and are made part of this Lease:

_______ Parking Agreement

_______ State Law Provisions

_______ Resident Consent for Release of Personal Property and Deposits

_______ Storage Agreement

_______ Satellite Antenna and Dish Agreement

_______ Pet Rules and Regulations

_______ Consent to Use Photo/Video for Advertising

_______ Co-Signor Guaranty (Individual or Business)

_______ Community Rules and Regulations

_______ Recreational Facilities Waiver Agreement

_______ Lead Based Paint Disclosure

_______ Furnished Apartment Agreement

_______ Pet Agreement

_______ Clothes Care Smart Card

You – Resident

_____________________________ Date: ________

Us – Main Street, L.I., LLC

_____________________________ Date: ________