residential lease agreement (Illinois)

Illinois Residential Lease Agreement

THIS LEASE AGREEMENT (hereinafter referred to as the "Agreement") made

and entered into this ____________ day of ____________________________, 20____,

by and between ) OWNER (hereinafter referred to as "Landlord") and TENANT

(hereinafter referred to as "Tenant").

W I T N E S S E T H :

WHEREAS, Landlord is the fee owner of certain real property being, lying and

situated in DuPage County, Illinois, such real property having a street address of

ADDRESS (hereinafter referred to as the "Premises").

WHEREAS, Landlord desires to lease the Premises to Tenant upon the terms and

conditions as contained herein; and

WHEREAS, Tenant desires to lease the Premises from Landlord on the terms

and conditions as contained herein;

NOW, THEREFORE, for and in consideration of the covenants and obligations

contained herein and other good and valuable consideration, the receipt and sufficiency

of which is hereby acknowledged, the parties hereto hereby agree as follows:

1. TERM. Landlord leases to Tenant and Tenant leases from Landlord the above described

Premises together with any and all appurtenances thereto, for a term of One Year such

term beginning on June 20, 2008,and ending at 12 o'clock midnight on June 19

2009.

2. RENT. The total rent for the term hereof is the sum of Fifthteen Thousand Five

Hundred Forty DOLLARS ($15,540) payable on the 1st day of each month of the

term, in equal installments of One Thousand Five Hundred DOLLARS ($1,295), first

to be paid upon the due execution of this Agreement. All such payments shall be made to

Landlord at Landlord's address as set forth in the preamble to this Agreement on or

before the due date and without demand.

3. SECURITY DEPOSIT. Upon the due execution of this Agreement, Tenant shall deposit

with Landlord the sum of Three Thousand DOLLARS ($1,295.00) receipt of which is

hereby acknowledged by Landlord, as security for any damage caused to the Premises

during the term hereof. Landlord may deposit security deposit in his general account.

Interest on Security Deposit. In accordance with Illinois law (765 ILCS 715/1, 715/2), and

subject to the exception set forth in this Paragraph, such deposit shall be returned to

Tenant, without interest, and less any set off for damages to the Premises upon the

termination of this Agreement. Landlord will only pay interest to Tenant if the Premises is

an apartment in a building with 25 or more units, provided the security deposit is held by

Landlord for more than six (6) months. The interest rate is to be the same rate as given

by the largest bank in Illinois on minimum passbook savings accounts as of December 31

of the year before the commencement date of this Agreement. Landlord shall pay Tenant

the accrued interest annually by cash or credit towards rent due, except when Tenant is

in default under the Agreement.

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residential lease agreement (Illinois)
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