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Lease Renewal 2023 (3178 W 41st St) - Lofty Holding 41st St & Silk Ave LLC_Redacted.pdf

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B2B Property Management 4320 Ridge Rd • Brooklyn, OH 44144 (216) 465-4011 1. Leasing Agreement 1.1 LEASE AGREEMENT THIS LEASE AGREEMENT (this “Lease”) is made and entered into on this 11/16/2022 by and between B2B Realty on behalf of the owner of record herein called "Landlord," and, herein called "Tenant." Landlord hereby agrees to rent to Tenant the dwelling located at: 3178 W 41 ST Cleveland, OH 44109 under the following terms and conditions: X 1.2 FIXED-TERM AGREEMENT (LEASE): Tenants agree

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B2B Property Management
4320 Ridge Rd • Brooklyn, OH 44144
(216) 465-4011

1. Leasing Agreement
1.1 LEASE AGREEMENT
THIS LEASE AGREEMENT (this “Lease”) is made and entered into on this 11/16/2022
by and between B2B Realty on behalf of the owner of record herein called "Landlord," and,
herein called "Tenant." Landlord hereby agrees to rent to Tenant the dwelling located at:
3178 W 41 ST
Cleveland, OH 44109
under the following terms and conditions:

X
1.2 FIXED-TERM AGREEMENT (LEASE):
Tenants agree to lease this dwelling for a fixed term of 12 months , beginning 01/01/2023 and ending 12/31/2023 . Tenant and Landlord
agree that both parties may agree to renew the Lease for a period of one year upon the same terms and conditions set forth in the Lease,
sub ect to Landlord’s right to increase the rent for any renewal term, upon one party giving written notification of such intent to renew at
least thirty (30) days prior to the termination of this Lease, and the other party agreeing to renew the Lease within ten (10) days of said
notification. Notwithstanding the above, both parties agree that this Rental Agreement shall automatically convert into a month to month
tenancy if both parties fail to give notice to either renew or terminate this Rental Agreement. There will be an additional month-to-month
fee of $75.00 per month in addition to the regular rent.

1.3 EARLY TERMINATION OF LEASE:
Tenant shall have the right to terminate this agreement early with a 30 day notice to Landlord. The security deposit will be forfeited to
landlord and an early termination fee of $$1300will be charged and landlord will absolve tenant of any legal duty to fulfill remainder of the
lease.

1.4 RENT:
Tenant agrees to pay landlord as rent the sum of $1,300.00 per month as rent for the term of the Agreement. Due date for rent payment
shall be the 1st day of each calendar month and shall be considered advance payment for that month. Weekends and holidays do not
delay or excuse Tenant’s obligation to timely pay rent. ONLINE PAYMENT AND MONEY ORDER ARE THE ONLY ACCEPTED FORM OF
PAYMENT. A $15.00 processing fee applies for all money orders mailed in or dropped off at B2B Realty s office. Transaction fees may apply to
online payments. In the rare event that an online payment is returned due to Non Sufficient Funds (NSF) or returned unpaid for any reason,
Tenant agrees to pay a returned transaction charge of $30.00 and any additional late fees until the rent is paid in full. Landlord will apply
all funds received from Tenant first to any non-rent obligations of Tenant including late charges, returned check charges, charge-backs for
repairs, brokerage fees, unpaid utilities, then to current rent, regardless of any notations on a check. It is expressly understood and agreed
that the tenant shall be and remain liable for any deficiency in rent until the lease expires or until such time as in the interim, the premises
are leased by another acceptable tenant.
Unless Landlord notifies Tenant of a change in address, all payments must be made out to B2B Realty and mailed or delivered to Landlord
at the following address: 4320 Ridge Road, Brooklyn, OH, 44144.

1.5 RENT DUE DATE/LATE FEE:
Rent shall be deemed received when actually delivered to, and received by, Landlord at the payment location. Rent is due in full on the 1st
of every month. If partial payments have been made, rent will still be late. If the full amount is not in the landlord’s possession on or before
the end of the 5th day of the month a late fee will be charged for any additional amount that is past due. Payments made after the 5th of the
month will incur a $75.00 late fee. Late fees charged under this section shall not exceed any maximum limitation imposed by law.

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X
1.6 SECURITY DEPOSIT:
Contemporaneously with the execution of this Lease, Tenant shall deposit with Landlord a security deposit in the amount of as security for
the return of the Premises at the expiration of the term of this Lease in as good condition as when Tenant took possession of the Premises, as
well as the faithful, timely and complete performance of all other terms, conditions and covenants of the Lease. THE TENANT AGREES THE
DEPOSIT IS NOT AN ADVANCE PAYMENT OF RENT AND DOES NOT RELIEVE THE OBLIGATION TO PAY RENT INCLUDING RENT
FOR THE LAST MONTH OF OCCUPANCY. Landlord may retain the Security Deposit for nonpayment of Rent or Additional Rent, damage
to the Premises, replacement of damaged or missing items on the Premises, and/or cleaning of the Premises, to perform any obligation
Tenant fails to perform under this Lease, or in connection with Landlord’s remedies under this Lease. Tenant shall not have the right to
require landlord to apply any or all portions of such security deposit to the payment of rent. No interest will be paid on this money. It will be
held intact by Landlord until at least thirty (30) working days after Tenants have vacated the property. At that time Landlord will inspect the
premises thoroughly and assess any damages and/or needed repairs. This deposit money minus any necessary charges for missing/dead
light bulbs, garage door remotes, repairs, cleaning, etc., will then be returned to Tenant with a written explanation of deductions, within
60 days after they have vacated the property. The tenant agrees to provide the landlord, in writing, a forwarding address upon vacating
the premises. Landlord shall mail the return or accounting to the forwarding address provided by Tenant or, if no forwarding address has
been provided, to Tenant’s last known address. If Tenant consists of more than one person, Tenant agrees that Landlord may provide, at
Landlord’s discretion, the return or accounting to one representative of Tenant or pro-rata refunds to each person.

1.7 ABANDONMENT:
In the event tenant abandons the premises at any time during the term, Landlord may, at landlord s options, obtain possession of the
premises in the manner provided by law, and without becoming liable to tenant for damages or for any payment of any kind whatever
including removing and disposing of any personal property left by tenants.

1.8 LANDLORD' S PROPERTY:
Any appliances or other furnishings or fixtures provided by landlord shall remain the property of landlord at all times. Tenant shall exert
reasonable care in maintaining such appliances, furnishings, and fixtures and shall avoid damage to same. Smoking inside the dwelling
is not permitted. Tenants will be responsible for any stains, buts, bums and other excessive wear to the carpeting. If anyone removes any
property belonging to Landlord without the express written consent of the Landlord, this will constitute abandonment and surrender of the
premises by Tenant and termination by them of this Rental Agreement. Landlord may also take further legal action.

1.9 SIGNS:
Landlord reserves the right to affix signs to the property or place signs in the yard. Tenant is forbidden from removing, defacing and or
damaging any of the Landlord’s signage. Tenant will be charged a minimum of $95 per sign plus the cost of labor and materials associated
with replacing the signage that has been damaged, defaced or removed from the property while property was in tenant’s possession.

1.10 CHANGES IN TERMS OF TENANCY:
(This paragraph applies only when this Agreement is or has become a month-to-month agreement). Landlord shall advise Tenants of any
changes in terms of tenancy with advance notice of at least thirty (30) days. Changes may include notices of termination, rent ad ustments,
or other reasonable changes in the terms of this Agreement.

1.11 TENANT COOPERATION WHEN SHOWING UNIT:
Tenant agrees to cooperate with the Landlord in showing the property to prospective tenants, buyers and/or any other individuals the
Landlord wishes to view the property.

1.12 TENANT INSURANCE:
Landlord will not be liable for any loss of Tenant s property. Tenant hereby acknowledges this and agrees to make no such claims for any
losses or damages against Landlord, his agents, or employees. Tenants agree to purchase insurance -at their own expense - sufficient to
protect themselves and their property from fire, theft, burglary, breakage, electrical connections. They acknowledge that if they fail to procure
such insurance, it is their responsibility and they alone shall bear the consequences. Landlords insurance does not protect the possessions of
the tenant.

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