The California Master Lease — Lessor and Lessee Covenant and Agreement is a legally binding contract between a lessor (landlord) and a lessee (tenant) that sets out the terms of a lease agreement. It outlines the obligations of both parties, including the rental amount, term of the lease, and any restrictions or special conditions that apply. It also includes clauses to protect both parties in the event of a dispute or breach of contract. The California Master Lease — Lessor and Lessee Covenant and Agreement typically covers the following topics: • Property Description: This section contains a detailed description of the property being leased, including any restrictions or special conditions. • Rent: This section outlines the amount of rent to be paid, when it is due, and any late fees or penalties for late payment. • Security Deposit: This section sets out the amount of the security deposit and any restrictions on its use. • Utilities: This section outlines which utilities are the responsibility of the tenant or the landlord. • Insurance: This section outlines the insurance requirements for both the tenant and the landlord. • Subletting and Assignment: This section outlines the conditions under which the tenant may sublet or assign the lease. • Liability: This section outlines the liability of both the tenant and the landlord in the event of a dispute or breach of contract. • Maintenance and Repairs: This section outlines the responsibilities of the tenant and the landlord for maintaining and repairing the property. • Termination: This section outlines the conditions under which the lease may be terminated. • Other: This section may include other conditions or restrictions as agreed upon by both parties. Types of California Master Lease — Lessor and Lessee Covenant and Agreement: • Residential: This type of agreement is used for residential leases. • Commercial: This type of agreement is used for commercial leases. • Short-Term: This type of agreement is used for leases that are of a short-term duration. • Fixed-Term: This type of agreement is used for leases that are of a fixed length.
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