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Rent-to-own agreement

Rent-to-own agreement

_________, hereby agrees to sell to _________ one mini home set-up on lot: _________ under the following conditions, on a rent to own basis;

1. To make _________ monthly instalments of _________ property tax interest rate at 10%. This total does not include fire insurance and monthly lot rent.
2. Down payment required in the amount of _________. First instalment due on _________.
3. Total sale price _________. Purchaser to maintain fire insurance for at least the amount of the unit with loss payable to: _________.
4. Purchaser to pay when due all taxes relating to the above home.
5. Purchaser is responsible to keep lot rents paid on time on the 1st day of each month.
6. Purchaser to leave home in _________ until paid in full.
7. Purchaser to maintain home in good condition at all times except normal wear.
8. On receipt of the last instalment, ownership of the above home will be transferred to purchaser free and clear.
9. Purchaser to understand and agree, a breach in any of the above conditions will mean cancellation of the above agreement, and all moneys paid going to rent.

Dated: _________

___________________________                           ___________________________
WITNESS                                                                PURCHASER

___________________________                           ___________________________
PURCHASER                                                          VENDOR

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