Rent to own PP: $275,000 down payment: $27,500 monthly ren: $2500.95 Lease Agreement Lease Term: This Lease shall be for a term of thirty (30) years, commencing on [Start Date] and terminating on [End Date]. Option to Purchase: Option Periods: The Tenant shall have the option to purchase the leased property every five (5) years, specifically at the end of the 5th, 10th, 15th, 20th, and 25th years of the Lease term. Option Exercise: Should the Tenant wish to exercise the purchase option, they must provide written notice to the Landlord at least ninety (90) days prior to the end of the current option period. Option Consideration Fee: If the Tenant does not exercise the purchase option at the end of any given option period, they must pay a new option consideration fee of [Amount] to the Landlord for the subsequent five-year option period. Payment Application: Fifteen percent (15%) of all rental payments made by the Tenant under this Lease shall be credited toward the principal amount of the purchase price, should the Tenant exercise the purchase option.
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