residential leasing

Re: residential leasing

Up to you guys, no worries here.

Re: residential leasing

SolarCity, SunRun, and Sungevity all have a lot of money behind them. They may be making money on these deals, but they could just be fighting for market share as they are all looking forward to IPOs in the near future.

From the point of view of a small integrator it seems hard to compete with the prepaid lease when your argument is about the viability of the billion dollar company and what is going to happen in 15 or 20 years.

edit: I'm no tax expert, but I think the solar leasing companies are getting some advantage from the accelerated depreciation allowed on solar systems.

Re: residential leasing

A good deal for the supplier or they would not be doing it.

Will this be a plus or a minus when selling the house? Many people will not want some company's stuff on the roof for a really minor discount on power.

They are simply raiding the US government treasury with your assistance.

You can't even say you are doing a green thing as all the credit goes to the leasing company.

Re: residential leasing

My lease is basically the same as has been talked about in this thread, 20 years, no out of pocket, I don't have to pay anything at the end

As I read what you wrote, there is 1500 dollars out of pocket. What is the system size? How much power are you allowed to consume each month before you are billed?

I have yet to read of any leases where there is no electric bill for 20 years after the prepayment of 1500 USD - which would come out to 75 dollars/year for an electric bill - with no inflation - very difficult. I would say impossible but you already stated that I am a jerk.

Anytime there is 'free' money being passed out there is very good reason to question what is going on. 75 dollar per year electric bills are more or less free money

If a lease were posted for all to see rather than be a top secret document it would be far harder to criticize. All could see what is really happening. A lawyer reading the lease can tell you if it is legal - not if it is a good business deal.

Utilities have a set of rules to go by but these leasing companies seem to tailor it to each customer in a manner to 'get the sale'. None post a sample lease for all to see that I can find.

In general, many posts on other blogs are far more harsh concerning leases.

Best Regards,
Russ

Re: residential leasing

Seems like Atrevido is saying it's $1500 and then not a penny for 20 years, so no lease payments?

If that's true it must be like a 1300 watt system? That's still a great deal though.

I don't think there will be any reason to replace the modules in 20 years just because there is new technology. These modules will be paid for, will be working (hopefully) and at that point whatever replaces them will cost more than zero. Also, hopefully your house will require less energy in 20 years thanks to technology, not more.

Sungevity and SolarCity (or anyone using SunRun) get the same tax credits and rebates that you'd get if you bought the system, so they aren't making money off of those any better than you'd be if you bought the system. They (or their investors) may have an advantage over you in being able to use accelerated depreciation though. The investors are comparing this to investments by the rate of return rather than just looking at how many years for payback and thinking anything over 5 years is a long time.

I think the fact that the lease is a good value despite having an extra middle man in there is just an indication of how good a long term investment solar is. But, of course, not everyone has the money to buy or maybe they would rather lease and put their money somewhere else.

(I don't see a Canadian Solar ET module?)

Re: residential leasing

atrevido wrote: »

This is how SUngevity and Solar CIty are making their money -

9. Ownership of the System; Tax Credits; Rebates. This Agreement is a lease and not a sale agreement. We own the System and any data from the System for all purposes. We will claim the environmental incentives and tax benefits
available with respect to the System, including, without limitation, (a) depreciation deductions, investment tax credits and any cash grant in lieu of investment tax credits and (b) any renewable energy credits, utility rebates (including performance based incentives), and any other environmental attributes associated with the electricity output from the System (all the above collectively the "Tax Benefits"). You agree to cooperate with us so we may apply for or claim any such incentives and benefits. Cooperation may include your filing or consent to filing applications with the federal, state or local government or a local utility and assigning these benefits to us. You agree not to claim any tax benefit, grant or other incentive that the owner of a solar system migh

What size in kilowatts is your system exactly?

Re: residential leasing

@ Energy Efficiencies - Agreed 100% - The old saying that when something sounds too good to be true it usually is applies.

Claims are made that are totally unsupported - no supporting documents offered. The leasing sites do NOT offer their lease up for public inspection - wonder why?

Utilities are much more controlled and regulated. The leasing companies are much more like Kirby vacuum cleaner or home siding salesmen - get in and get a deal - the details are none of the suckers business anyway.

The offer of a 500 dollar kickback if you line up a friend or neighbor is really low in my opinion.

Re: residential leasing

I would like to see it and I expect many others would as well.

Thanks,
Russ

Re: residential leasing

Part 2

3. System Repair, Relocation or Removal.
(a) You agree that if (i) the System needs any repairs that are not the responsibility of SolarCity under this Limited
Warranty, (ii) the system needs to be removed and reinstalled to facilitate remodeling of your Home or (iii) the
system is being relocated to another home you own pursuant to the Lease, you will have SolarCity, or another
similarly qualified service provider, at your expense, perform such repairs, removal and reinstallation, or
relocation on a time and materials basis.
(b) If you want to return the System to SolarCity under Section 17 of the Lease then SolarCity will remove the
System at no cost to you. SolarCity will remove the posts and waterproof the post area. SolarCity will warrant
the waterproofing for one (1) year after it removes the System. Color matching of the patched roof area will be
done with material you provide to us. You agree to reasonably cooperate with SolarCity in removing the Solar
Panel System including providing necessary space, access and storage and we will reasonably cooperate with
you to schedule removal in a time and manner that minimizes inconvenience to you.

4. Force Majeure.
If SolarCity is unable to perform all or some of its obligations under this Limited Warranty because of a Force
Majeure Event, SolarCity will be excused from whatever performance is affected by the Force Majeure Event,
provided that:

1. SolarCity, as soon as is reasonably practical, gives you notice describing the Force Majeure Event;
2. SolarCity’s suspension of its obligations is of no greater scope and of no longer duration than is
required by the Force Majeure Event; and
3. No SolarCity obligation that arose before the Force Majeure Event that could and should have been
fully performed before such Force Majeure Event is excused as a result of such Force Majeure Event.

“Force Majeure Event” means any event, condition or circumstance beyond the control of and not caused by
SolarCity’s fault or negligence. It shall include, without limitation, failure or interruption of the production, delivery or acceptance of electricity due to: an act of god; war (declared or undeclared); sabotage; riot; insurrection;
civil unrest or disturbance; military or guerilla action; terrorism; economic sanction or embargo; civil strike, work
stoppage, slow-down, or lock-out; explosion; fire; earthquake; abnormal weather condition or actions of the
elements; hurricane; flood; lightning; wind; drought; the binding order of any governmental authority (provided that
such order has been resisted in good faith by all reasonable legal means); the failure to act on the part of any
governmental authority (provided that such action has been timely requested and diligently pursued); unavailability
of electricity from the utility grid, equipment, supplies or products (but not to the extent that any such availability of
any of the foregoing results from SolarCity’s failure to have exercised reasonable diligence); and failure of
equipment not utilized by SolarCity or under its control.
5. Limitations on Liability.
(a) No Consequential Damages. YOU MAY ONLY RECOVER DIRECT DAMAGES AND THOSE
AMOUNTS DUE PURSUANT TO SECTION 1(b) UNDER THIS LIMITED WARRANTY, AND IN NO
EVENT SHALL SOLARCITY OR ITS AGENTS OR SUBCONTRACTORS BE LIABLE TO YOU OR
YOUR ASSIGNS FOR SPECIAL, INDIRECT, PUNITIVE, EXEMPLARY, INCIDENTAL OR
CONSEQUENTIAL DAMAGES OF ANY NATURE. SOME STATES DO NOT ALLOW THE
EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE
ABOVE LIMITATION MAY NOT APPLY TO YOU.
(b) Limitation of Duration of Implied Warranties. ANY IMPLIED WARRANTIES, INCLUDING THE
IMPLIED WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE AND MERCHANTABILITY
ARISING UNDER STATE LAW, SHALL IN NO EVENT EXTEND PAST THE EXPIRATION OF ANY
WARRANTY PERIOD IN THIS LIMITED WARRANTY. SOME STATES DO NOT ALLOW
LIMITATIONS ON HOW LONG AN IMPLIED WARRANTY LASTS, SO THE ABOVE LIMITATION
MAY NOT APPLY TO YOU.
(c) Limit of Liability. Notwithstanding any other provision of this Limited Warranty to the contrary, SolarCity’s
total liability arising out of relating to this Limited Warranty shall in no event:
i. For System Failure or Replacement: exceed the cost of the System Lease; and
ii. For damages to your Home: exceed two million dollars ($2,000,000) provided that the damages are
caused solely by us or the System and the damages are covered by our insurance.

6. Notices.
All notices under this Limited Warranty shall be in writing and shall be by personal delivery, facsimile transmission,
electronic mail, overnight courier, or regular, certified, or registered mail, return receipt requested, and deemed
received upon personal delivery, acknowledgment of receipt of electronic transmission, the promised delivery date
after deposit with overnight courier, or five (5) days after deposit in the mail. Notices shall be sent to the party
identified in this Agreement at the address set forth below or such other address as either party may specify in
writing. Each party shall deem a document faxed to it as an original document.

To SolarCity:

SolarCity Corporation
393 Vintage Park Drive, Suite 140

Foster City, CA 94404
Attention: Warranty Claims

Telephone: 650-638-1028

Facsimile: 650-638-1029

Email: leaseadministrator@solarcity.com

To You:

At the billing address in the Lease or any
subsequent billing address you give us.

7. Applicable Law/Arbitration.
The laws of the state where your Home is located shall govern this Limited Warranty without giving effect to
conflict of laws principles. We agree that any dispute, claims or disagreements between us shall be resolved by
arbitration. Judgment on an arbitrator’s award may be entered in any court having jurisdiction. All statutes of
limitations that are applicable to any dispute shall apply to any arbitration between us. Prior to any arbitration the
parties agree to consider mediating their claims.

Each arbitration, including the selecting of the arbitrator, will be administered by JAMS/Endispute, LLC under its
Commercial Arbitration Rules and, in addition, the Due Process Protocol for Mediation and Arbitration of
Consumer Disputes most recently in effect. Arbitration will be governed by the Federal Arbitration Act (Title 9 of
the U.S. Code). Either party can initiate an arbitration proceeding by filing the necessary forms with JAMS. To learn
more about arbitration, you can call any JAMS office or review the materials at www.jamsadr.com. If a JAMS
office does not exist in the county where you are located, another arbitrator will be agreed upon or if no other
arbitrator can be agreed upon, then we will use the AAA office closest to your Home.

You and we shall each bear our own costs and expenses, including attorneys’ fees, with respect to any arbitration.
However, if under the circumstances relating to the dispute it is determined by the arbitrator that it would be
unconscionable or otherwise inappropriate for you to pay the filing and all other fees associated with the arbitration,
we will pay those fees for you.

Only disputes involving you and us may be addressed in the arbitration. You agree that you cannot not pursue any
dispute as a “class action” unless the amount in dispute between us is less than three thousand dollars ($3,000), not
including any claim you might bring for attorneys’ fees or punitive or exemplary damages where provided by law.
This means that the arbitration may not address disputes involving other persons which may be similar to the
disputes between you and us.

The arbitrator shall have the authority to award any legal or equitable remedy or relief that a court could order or
grant. The arbitrator, however, is not authorized to change or alter the terms of this Agreement or to make any award
that would extend to any transaction other than your own.

Because we have agreed to arbitrate all disputes, neither of use will HAVE THE RIGHT TO LITIGATE THAT
DISPUTE IN COURT, OR TO HAVE A JURY TRIAL ON THAT DISPUTE, OR ENGAGE IN DISCOVERY
EXCEPT AS PROVIDED FOR IN THE JAMS RULES. FURTHER, YOU WILL NOT HAVE THE RIGHT TO
PARTICIPATE AS A REPRESENTATIVE OR MEMBER OF ANY CLASS PERTAINING TO ANY DISPUTE
UNLESS THE AMOUNT IN DISPUTE IS LESS THAN THREE THOUSAND DOLLARS ($3,000), NOT
INCLUDING ANY CLAIM YOU MIGHT BRING FOR ATTORNEYS FEES OR PUNITIVE OR EXEMPLARY
DAMAGES WHERE PROVIDED BY LAW. THE ARBITRATOR’S DECISION WILL BE FINAL AND
BINDING, EXCEPT TO THE EXTENT IT IS SUBJECT TO REVIEW IN ACCORDANCE WITH
APPLICABLE LAWS GOVERNING ARBITRATION AWARDS. OTHER RIGHTS THAT YOU OR WE
WOULD HAVE IN COURT MAY ALSO NOT BE AVAILABLE IN ARBITRATION.

If any portion of this section of this Limited Warranty is determined to be unenforceable, the remaining provisions
shall be enforced in accordance with their terms or shall be interpreted or re-written so as to make them enforceable.

8. Assignment and Transfer of this Limited Warranty.
SolarCity may assign its rights or obligations under this Limited Warranty to a third party without your consent,
provided that any assignment of SolarCity’s obligations under this Limited Warranty shall be to a party qualified to
perform such obligation. This Limited Warranty protects only the person who leases the System. Your rights and
obligations under this Limited Warranty will be automatically transferred to any person who purchases the System
from you or to whom you properly transfer the Lease.

9. Entire Agreement; Changes.

This Limited Warranty contains the parties entire agreement regarding the limited warranty of the System.
SolarCity’s obligations under this Limited Warranty are separate and distinct from its, or its assigns, obligations
under the Lease and any breach of this Limited Warranty shall not affect your obligations under the Lease. The
Lease may be assigned to a third party without assignment of SolarCity's obligations under this Limited Warranty.
SolarCity's obligations under this Limited Warranty may only be assigned in writing to a party that expressly
accepts responsibility in writing for SolarCity's obligations under this Limited Warranty. There are no other
agreements regarding the limited warranty of the System, either written or spoken. Any change to this Limited
Warranty must be in writing and signed by both parties. If any portion of this Limited Warranty is determined to be
unenforceable, the remaining provisions shall be enforced in accordance with their terms or shall be interpreted or
re-written so as to make them enforceable. Provisions that should reasonably be considered to survive termination
of this Limited Warranty shall survive.

SolarCity Corporation

By (signature):

Printed Name: Charles Ferer

Title:CFO

Lessee


By (signature):

Printed Name: XXXXXXXXXXXXXXXX

Exhibit A

1. Lease Date: _____________

2. Original Lessee Name: XXXXXXXXXXXXXXXX

3. Original Co-Lessee Name (if applicable):

4. Description of the System:

5.6 KW DC (STC) PHOTOVOLTAIC SYSTEM

Photovoltaic Modules

Inverter(s)

Mounting system

Monitoring system

Electric meter number:

The estimated average price per kWh over the lease term is: $0.135

Exhibit B

Table of Guaranteed Annual kWh

YEAR GUARANTEED CUMULATIVE KWH
ANNUAL KWH
1 9,694 9,694
2 9,597 19,292
3 9,501 28,793
4 9,406 38,200
5 9,312 47,512
6 9,219 56,731
7 9,127 65,859
8 9,036 74,894
9 8,945 83,840
10 8,856 92,696
11 8,767 101,463
12 8,680 110,143
13 8,593 118,736
14 8,507 127,243
15 8,422 135,665

Re: residential leasing

Part 2

(h) Indemnity. To the fullest extent permitted by law, you shall indemnify, defend, protect, save and hold harmless
SolarCity, its employees, officers, directors, agents, successors and assigns from any and all third party claims, actions,
costs, expenses (including reasonable attorneys’ fees and expenses), damages, liabilities, penalties, losses, obligations,
injuries, demands and liens of any kind or nature arising out of, connected with, relating to or resulting from your
negligence or willful misconduct; provided, that nothing herein shall require you to indemnify SolarCity for its own
negligence or willful misconduct. The provisions of this paragraph shall survive termination or expiration of this Lease.
(i) Monthly Payments. The Monthly Payments section (Section 4(B)) describes your monthly payment obligations under
this Lease. YOU AGREE THAT THIS IS A NET LEASE AND THE OBLIGATION TO PAY ALL MONTHLY
PAYMENTS AND ALL OTHER AMOUNTS DUE UNDER THIS LEASE SHALL BE ABSOLUTE AND
UNCONDITIONAL UNDER ALL CIRCUMSTANCES AND SHALL NOT BE SUBJECT TO ANY ABATEMENT,
DEFENSE, COUNTERCLAIM, SETOFF, RECOUPMENT OR REDUCTION FOR ANY REASON WHATSOEVER,
IT BEING THE EXPRESS INTENT OF THE PARTIES THAT ALL AMOUNTS PAYABLE BY YOU
HEREUNDER SHALL BE AND CONTINUE TO BE PAYABLE IN ALL EVENTS INCLUDING BY YOUR
HEIRS AND ESTATE AND, EXCEPT AS SET FORTH BELOW, YOU HEREBY WAIVE ALL RIGHTS YOU
MAY HAVE TO REJECT OR CANCEL THIS LEASE, TO REVOKE ACCEPTANCE OF THE SYSTEM, OR TO
GRANT A SECURITY INTEREST IN THE SYSTEM.
(j) Lease Obligations Separate from Limited Warranty. You acknowledge that SolarCity’s obligations under this Lease are
separate and independent from its obligations under the Limited Warranty, that no breach of the provisions of the
Limited Warranty will be a default by SolarCity under this Lease, and that a breach by SolarCity of its obligations under
the Limited Warranty will not give rise to any rights or recourse against SolarCity or any right to offset amounts due
under this Lease. You also acknowledge that this Lease may be assigned separately from the Limited Warranty.

6. Conditions Prior to Installation of the System.
SolarCity’s obligation to install and lease the System are conditioned on the following items having been completed to its
reasonable satisfaction:

(a) completion of a physical inspection of the Property, including if applicable geotechnical work, and real estate due
diligence to confirm the suitability of the Property for the construction, installation and operation of the System;
(b) approval of this Lease by its financing partner(s);
(c) confirmation that it will obtain all applicable benefits referred to in Section 9; and
(d) receipt of all necessary zoning, land use and building permits.

(e) SolarCity may terminate this Lease without liability if, in its reasonable judgment, any of the above listed conditions
will not be satisfied for reasons beyond its reasonable control.

7. Warranty.
The Limited Warranty is separate from this Lease. No rights provided to you by the Limited Warranty may be asserted under
this Lease. No warranty is made in this Lease. Therefore, any warranty claim must be made independently of this Lease and
will not affect your obligations under this Lease.

YOU UNDERSTAND THAT THE SYSTEM IS WARRANTED UNDER THE LIMITED WARRANTY, AND THAT
THERE ARE NO OTHER REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, AS TO THE
MERCHANTABILITY, FITNESS FOR ANY PURPOSE, CONDITION, DESIGN, CAPACITY, SUITABILITY OR
PERFORMANCE OF THE SYSTEM OR ITS INSTALLATION, AND YOU LEASE THE SYSTEM “AS IS.”

8. Transfer.
SolarCity may assign, sell or transfer the System and this Lease. Assignment, sale or transfer generally means that SolarCity
would transfer certain of its rights and certain of its obligations under this Lease to another party. Upon such transfer,
SolarCity Corporation shall retain, and the other party will have no obligation for, SolarCity Corporation’s installation
obligations under Section 1 and its obligations under the Limited Warranty or the Guide.

9. Ownership of the System; Tax Credits and Rebates.
You understand and agree that this is a lease and not a sale agreement. SolarCity owns the System for all purposes, including
any data generated from the system. You shall at all times keep the System free and clear of all liens, claims, levies and legal
processes not created by SolarCity, and shall at your expense protect and defend SolarCity against the same.

YOU UNDERSTAND AND AGREE THAT ANY AND ALL TAX CREDITS, INCENTIVES, RENEWABLE ENERGY
CREDITS, GREEN TAGS, CARBON OFFSET CREDITS, UTILITY REBATES OR ANY OTHER NON-POWER
ATTRIBUTES OF THE SYSTEM ARE THE PROPERTY OF AND FOR THE BENEFIT OF SOLARCITY, USABLE AT
ITS SOLE DISCRETION. SOLARCITY SHALL HAVE THE EXCLUSIVE RIGHT TO ENJOY AND USE ALL SUCH
BENEFITS, WHETHER SUCH BENEFITS EXIST NOW OR IN THE FUTURE.

10. Options to Purchase the Solar Panel System Prior to the End of the Lease Term.
You may not purchase the System prior to the end of the Lease Term.

11. Option to Renew Your Lease.
You have the option to renew your Lease Term for up to fifteen (15) years in three (3) five (5) year renewal periods. We will
send you renewal forms three (3) months prior to the expiration of the Lease Term, which forms shall set forth the new
Monthly Payments due under the renewal Lease, based on our assessment of the then current fair market value of the System.
If you want to renew and you are in compliance with this Lease, complete the renewal forms and return them to us at least
one (1) month prior to the end of the Lease. In the event that you do not agree to the new Monthly Payments or do not
submit a renewal form, the Lease shall expire by its terms on the termination date.

12. Selling Your Home.
(a) If you sell your home you can:
(i) Transfer this Lease and the Monthly Payments. If the person buying your Home meets SolarCity’s credit
requirements, then the person buying your Home can sign a transfer agreement assuming all of your rights
and obligations under this Lease.
(ii) Prepay this Lease and Transfer only the Use of the System. If the person buying your home does not meet
SolarCity’s credit requirements, but still wants the System, then you can (i) prepay the payments remaining on
the Lease (See section 16(f)(i) and (ii)), (ii) add the cost of the Lease to the price of your home; and (iii) have
the person buying your Home sign a transfer agreement to assume your rights and non-Monthly Payment
obligations under this Lease. The System stays at your Home, the new owner of your Home does not make any
Monthly Payments and has only to comply with the non-Monthly Payment portions of this Lease.
(iii) Prepay this Lease and Remove the System after Six Years. If your System has been installed for at least six (6)
years (72 months) and the person buying your home does not want the System, you may prepay the payments
remaining on the Lease (See section 16(f)(i) and (ii)). Your right to have the System removed at no cost to you
in such case is covered by the Limited Warranty.
(iv) Move the System to your new Home. If you are moving to a new home in the same utility district, the System
can be moved to your new home only pursuant to the Limited Warranty. You will need to pay all costs
associated with relocating the System, execute and deliver to SolarCity an easement for the replacement
premises and provide any third party consents or releases required by SolarCity in connection with the
substitute premises.

(b) You agree to give SolarCity at least one (1) month’s but not more than three (3) months’ prior written notice if you want
someone to assume your Lease obligations. In connection with this assumption, you, your approved buyer and
SolarCity shall execute a written transfer of this Lease. SolarCity may charge you a transfer review fee of two hundred
fifty dollars ($250). Unless we have released you from your obligations in writing, you are still responsible for
performing under this Lease. If your buyer defaults on this Lease and we have not yet signed the transfer agreement,
you will be responsible for its default. We will release you from your obligations under this Lease in writing once we
have a signed transfer agreement with the person buying your Home (provided such person has been approved as a
transferee by SolarCity in writing).
(c) If you sell your home and can't comply with any of the options in subsection (a) above, you will be in default under this
Lease. Section 12(a) includes a home sale by your estate or heirs.
(d) EXCEPT AS SET FORTH IN THIS SECTION, YOU WILL NOT SUBLEASE, ASSIGN, SELL, PLEDGE OR IN
ANY OTHER WAY TRANSFER YOUR INTEREST IN THE SYSTEM OR THIS LEASE WITHOUT OUR PRIOR
WRITTEN CONSENT, WHICH SHALL NOT BE UNREASONABLY WITHHELD.

13. Loss or Damage.
(a) You agree to bear all of the risk of loss, damage, theft, destruction or similar occurrence of any or all of the System
during the time the System is (i) installed on the Property, (ii) while the System is being installed on the Property, or
(iii) after a default under this Lease, while the System is being removed from the Property. Except as expressly
provided in this Lease, no loss, damage, theft or destruction will excuse you from your obligations under this Lease,
including Monthly Payments. The insurance you provide on the System will protect you from the financial burden of
loss or damage to the System; this is why we require the System to be insured.
(b) If there is loss, damage, theft, destruction or a similar occurrence affecting the System, and you are not in default of this
Lease, you shall within thirty (30) days after such occurrence (a) continue to timely make all Monthly Payments and
pay all other amounts due under the Lease and, within a commercially reasonable time at your sole cost and expense,
have the System repaired pursuant to the Limited Warranty; or (b) if the System cannot be repaired (with insurance
proceeds plus any additional monies required) pay SolarCity all amounts described in Section 16(f).
(c) SolarCity shall have the right, but not the obligation, to repair or remedy any defective or dangerous condition with
respect to the System and bill you for the reasonable cost and expense of such repairs. Some or all of these obligations
may be covered by the Limited Warranty.

Re: residential leasing

Part 4

21. Entire Agreement; Changes.
This Lease contains the parties’ entire agreement regarding the lease of the System. There are no other agreements regarding
this Lease, either written or oral. Any change to this Lease must be in writing and signed by both parties. If any portion of
this Lease is determined to be unenforceable, the remaining provisions shall be enforced in accordance with their terms or
shall be interpreted or re-written so as to make them enforceable. Provisions that should reasonably be considered to survive
termination of this Lease shall survive, including, without limitation, Sections 5(c), 5(d), 5(e), 5(f), 5(g), 5(h), 14, 16 and 18.

22. Right to Cancel
You may cancel this Lease at any time prior to 5 p.m. of the 30th calendar day after the date you sign this Lease. If that day
is a holiday, you will have until the next day that is not a holiday to cancel this Lease. The notice of cancellation must be
given pursuant to Section 20 to SolarCity at its address in this Lease, but must be actually received by SolarCity.

I have read this Lease in its entirety and I acknowledge that I have received a complete copy of this Lease.

Owner’s Name: XXXXXXXXXXXXXXX Co-Owner’s Name (if any):

Signature: _________________________ Signature: __________________________________

Date: _____________________________ Date: ______________________________________

SOLARCITY CORPORATION

By (signature): _____________________

Printed Name: Charles Ferer

Title: CFO

Date: _____________________________

Re: residential leasing

BB. wrote: »

Thank you very much for the hard work. I am sure lots of people will be interested.

-Bill

Thanks for the clean up.