This is a model version of our Lease. Some elements may vary slightly depending on the property involved.

FIXTURES AND IMPROVEMENTS. Tenant shall make no structural alterations of the premises without Landlord's written consent. Tenants shall leave upon, and surrender to Landlord, with the premises at the termination of this Rental Property Lease, all locks, brackets for curtains, and all other fixtures attached to doors, windows or woodwork, and all alterations, additions or improvements made by Tenant, without any payment therefor. Tenant shall not paint the walls or ceilings of the Premises any color than the approved color, as provided by ALGOR Property, LC. Any unauthorized painting will result in a $250 fine, plus the cost of restoring the original color as designated by ALGOR Property, LC.   ____ Initials   ____ Initials ____ Initials ____ Initials

MAINTENANCE.

By Tenant. Tenant shall:

- comply with all obligations primarily imposed upon tenants by applicable provisions of building and housing codes materially affecting health and safety
- be responsible for snow and ice removal from driveways and sidewalks
- be responsible for maintaining the sewer and other matters related to plumbing used to carry water and sewage from the building if caused by the Tenants' or Tenants' guests actions or negligence, including all plugged drains.
- be responsible for the maintenance and repair of all windows and screens, doors, walls, and floors in the Premises occupied by the tenant
- be responsible for pest control
- be responsible for yard maintenance (including leaf raking and mowing)
- ensure that litter is picked up at all times, or a $5 per instance charge will be assessed by Landlord for each cleanup job performed; cigarette butts are considered litter and a special $.50 per butt charge will be assessed by Landlord for butt removal
- not deliberately or negligently destroy, deface, damage, impair or remove a part of the premises, or knowingly permit a person to do so
- conduct himself in a manner that will not disturb a neighbor's peaceful enjoyment of the premises (e.g., no loud parties)
- all other items of maintenance not specifically delegated to Landlord under this Lease

By Landlord. Landlord shall:

- comply with all requirements of applicable building and housing codes materially affecting health and safety
- be responsible for maintaining the roof, outside walls, and other structural parts of the building
- be responsible for maintaining the electrical wiring and water supply pipes
- be responsible for maintaining the heating system (including air conditioning system if one is present)

ACCESS BY LANDLORD TO PREMISES. Subject to Tenant's consent (which shall not be unreasonably withheld), Landlord shall have the right to enter the Premises to make inspections, provide necessary services, or show the unit to prospective buyers, mortgagees, tenants or workers. As provided by the Iowa Uniform Residential Landlord and Tenant Act, in the case of an emergency, Landlord may enter the Premises without Tenant's consent.

PROPERTY INSURANCE. Landlord and Tenant shall each be responsible to maintain appropriate insurance for their respective interests in the Premises and property located on the Premises.

INDEMNITY REGARDING USE OF PREMISES. Tenant agrees to indemnify, hold harmless, and defend Landlord from and against any and all losses, claims, liabilities, and expenses, including reasonable attorney fees, if any, which Landlord may suffer or incur in connection with Tenant's use of the Premises.

DANGEROUS MATERIALS. Tenant shall not keep or have on the Premises any article or thing of a dangerous, inflammable, or explosive character that might substantially increase the danger of fire on the Premises, or that might be considered hazardous by a responsible insurance company, unless the prior written consent of Landlord is obtained and proof of adequate insurance protection is provided by the Tenant to the Landlord.

DESTRUCTION OR CONDEMNATION OF PREMISES. If the Premises are partially destroyed in a manner that prevents the conducting of Tenant's use of the Premises in a normal manner, and if the damage is reasonably repairable within sixty days after the occurrence of the destruction, and if the cost of the repair is less than $5,000.00, Landlord shall repair the Premises and lease payments shall abate during the period of the repair. However, if the damage is not repairable within sixty days, or if the cost of repair is $5,000.00 or more, or if the Landlord is prevented from repairing the damage by forces beyond Landlord's control, or if the property is condemned, this Lease shall terminate upon fourteen days written notice of such event or condition by either party, and rent payments shall abate from the time said premises are rendered unusable in Tenant's normal manner. In the event the Premises are no longer inhabitable, Landlord shall return to Tenant all prepaid rent and security recoverable under the Iowa Uniform Residential Landlord and Tenant Act. Accounting for rent in the event of termination or apportionment shall occur as of the date of the casualty.

NONPAYMENT OF RENT. In addition to Landlord's other remedies provided by law, and without prejudice thereto, if rent is unpaid when due, and Tenant fails to pay the rent within three (3) days after notice by Landlord of nonpayment and the Landlord's intention to terminate this Rental Property Lease if the rent is not paid within that period of time, then Landlord may terminate this Rental Property Lease by giving Tenant a 3-day Notice to Quit.

DEFAULTS. Tenant shall be in default of this Lease, if Tenant fails to fulfill any lease obligation or term by which Tenant is bound. Subject to any governing provisions of law to the contrary, if Tenant fails to cure any financial obligation within 14 days (or any other obligation within 14 days) after written notice of such default is provided by Landlord to Tenant, Landlord may take possession of the Premises without further notice, and without prejudicing Landlord's rights to damages. In the alternative, Landlord may elect to cure any default and the cost of such action shall be added to Tenant's financial obligations under this Lease. Tenant shall pay all costs, damages, and expenses suffered by Landlord by reason of Tenant's defaults.

ABANDONMENT. If Tenant abandons the dwelling unit, Landlord will make reasonable effort to rent it at a fair rental. However, Landlord will not be deemed to have accepted any abandonment as a surrender unless written notice of an election to do so is given to Tenant. Acceptance of keys to the dwelling unit shall not constitute an acceptance of any abandonment.

NOTICE. Notices under this Lease shall not be deemed valid unless given or served in writing and forwarded by mail, postage prepaid, addressed as follows:

LANDLORD:
ALGOR Property, L.C.
129 Main Street
Lower Level
Ames, IA 50010-6388

TENANT:
at Premises

Such addresses may be changed from time to time by either party by providing notice as set forth above.

PRESENT AND CONTINUING HABITABILITY. Tenant has inspected the property and fixtures, and acknowledges that they are in a reasonable and acceptable condition of habitability for their intended use, and that the rent agreed upon is fair and reasonable in this community for premises in their condition. In the event that the condition changes so that, in Tenant's opinion, the habitability and rental value of the premises are affected, then Tenant shall promptly give reasonable notice to Landlord.

ENTIRE AGREEMENT/AMENDMENT. This Lease Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Lease may be modified or amended in writing, if the writing is signed by the party obligated under the amendment.

SEVERABILITY. If any portion of this Lease shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Lease is invalid or unenforceable, but that by limiting such provision, it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.

WAIVER. The failure of either party to enforce any provisions of this Lease shall not be construed as a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Lease.

CUMULATIVE RIGHTS. The rights of the parties under this Lease are cumulative, and shall not be construed as exclusive unless otherwise required by law.

GOVERNING LAW. This Lease shall be construed in accordance with the laws of the state of Iowa.

CONSTRUCTION. Words and phrases herein shall be construed as in the single or plural, and as masculine, feminine or neuter gender, according to the context.

The City of Ames Letter of Compliance is available for viewing upon request.

ADDITIONAL PROVISIONS.

- All carpets are to be professionally cleaned at the end of each lease period.
- No pets. (A charge equal to 25% of the security deposite will be assessed per instance of pet on Premises)
- No beer kegs allowed on the premises. ($100 fine per keg)
- Garage (if present) is for automobiles and bicycles, not for general storage. The garage can be leased for $30.00 per month for use as a storage unit.
- All tenants are equally responsible for the full rent payment each month. We do not rent rooms in the house, we rent the whole house.
- Before any deposit refunds are issued, a valid forwarding address (in the form of a self-addressed stamped envelope) is needed.
- Basement is not waterproofed.
- Personal property of the Tenant remaining on the Premises after abandonment will be presumed abandoned as well.
- No furniture on lawn.
- The Premises are located in an RL zone. Occupancy is limited to a family, as defined by Sec. 13.3.(5) of the Ames City Code. (A family is defined as “(a) person living alone, or . . . (a)ny number of people related by blood, marriage, adoptions, guardianship or other duly-authorized custodial relationship; [or] (t)hree unrelated people; [or] (t)wo unrelated people and any children related to either of them.) A violation of the Rental Housing chapter of the city code “shall be a municipal infraction punishable by a penalty of $500 for a person’s first violation thereof, and a penalty of $750 for each repeat violation.”

LANDLORD:

ALGOR Property, L.C.
(Al - 515-292-7548, Gordie - 515-232-1252)

__________________________________________________
Al Warren                                                                      Date
for ALGOR Property, LC

TENANT: We the undersigned have fully read and understand the provisions of this lease and agree to abide by those provisions.

____________________________________________________________________________
Tenant 1                                                       000-00-0000                                            Date

____________________________________________________________________________
Tenant 2                                                       000-00-0000                                            Date

____________________________________________________________________________
Tenant 3                                                       000-00-0000                                            Date

____________________________________________________________________________
Name                                                           000-00-0000                                            Date

129 Main Street - lower level - Ames, IA 50010-6388

I have read the lease, and understand all the provisions thereof. These include, but are not limited to:

☐ My lease begins on noon of the date specified in paragraph three of the lease.
Please do not ask to move in early, as there are certain things that must be done to each unit before new tenants can take possession.

☐ I know that pets are not allowed, either permanently or temporarily, unless otherwise specified in the Lease or an Addendum to the Lease.
If a pet is found on the premises, a charge equal to 25% of the Security Deposit will be assessed to the tenants. Further violations will result in additional charges of that same amount and possible eviction procedures.

☐ I understand that the unit is leased to me “as is.”
No assumption about any possible renovations or improvements should be made by the tenants. If there is something about the unit that is unacceptable, the lease shouldn’t be signed in the first place.

☐ If I call the Landlord with a repair, I understand that it will be attended to it as quickly as possible.
Requesting a repair implies that you have given implicit permission for the landlord or a designated repair person to enter the premises at the landlords’ convenience.

☐ I understand that I am responsible for snow removal on both the driveway and sidewalks and that I am responsible for mowing the lawn and raking any leaves.
The MAINTENANCE paragraph of the lease has specific responsibilities for both Tenant and Landlord.

☐ I will provide the Landlord with a completed pre-existing damage report within 24 hours of taking possession of the premises.
By providing a report, you protect yourself when you complete your lease term. Anything not included in the report will be assumed to have been caused during your lease period and you will be held financially responsible for the repair of any damages.

☐ I will note any cleaning that needs to be done or that wasn’t done as part of the damage report mentioned above.
The premises are expected to be in a clean and orderly state upon the completion of the lease. Failure to put the premises in that condition will result in cleaning fees being assessed to you.

☐ I will not take the discount off my rent payment unless I pay rent on or before the due date.
If I pay rent after the due date, I have to pay the gross amount, not the discounted amount.

☐ I agree to pay any and all fees assessed per the terms of the Lease promptly and in full.
If I don’t pay them promptly and in full, I understand they’ll be charged against my deposit, with interest at the rate of 1.5% monthly (18% per annum).

☐ I understand that I am part of a neighborhood, and will behave as a good neighbor.
If I don’t behave as a good neighbor, the City of Ames will be happy to fine me.

Signed:
________________________________________        ________________________________________

________________________________________        ________________________________________