Fill and Sign the Nm Landlord Tenant Form

AGREEMENT REGARDING TENANT ALTERATIONS TO RENTAL UNIT ___________________________ (Landlord) and ___________________________ (Tenant) agree as follows: 1. Tenant may make the following alterations/improvements to the rental unit at:             2. Tenant will accomplish the work described in Paragraph 1 by using the following materials and procedures:             Tenant confirms that they are competent and capable of carrying out said work. Tenant further confirms they are not an employee or sub-contractor of Landlord even if they receive a rent credit for carrying out this work and waive all claims against Landlord for any injury incurred while carrying out such work. 3. Tenant will do only the work outlined in Paragraph 1 using only the materials and procedures outlined in paragraph 2. 4. The alterations carried out by Tenant (check either a or b): a. will become Landlord's property and are not to be removed by Tenant during or at the end of the tenancy b. will be considered Tenant's personal property, and as such may be removed by Tenant at any time up to the end of the tenancy. Tenant promises to return the premises to their original condition upon removing the improvement. 5. Landlord will reimburse Tenant only for the costs checked below: the cost of materials listed in paragraph 2 labor costs at the rate of $ _____ per hour for work done in a workmanlike manner acceptable to Landlord up to _____ hours. 6. After receiving appropriate documentation of the cost of materials and labor, Landlord shall make any payment called for under paragraph 5 by: lump sum payment, within _____ days of receiving documentation of costs, or by reducing Tenant's rent by $ _____ per month for the number of months necessary to cover the total amounts under the terms of this agreement. 7. If under Paragraph 4 of this contract the alterations are Tenant's personal property, Tenant must return the premises to their original condition upon removing the alterations. If Tenant fails to do this, Landlord will deduct the cost to restore the premises to their original condition from Tenant's security deposit. If the security deposit is insufficient to cover the costs of restoration, Landlord may take legal action, if necessary, to collect the balance. 8. If Tenant fails to remove an improvement that is his or her personal property on or before the end of the tenancy, it will be considered the property of Landlord, who may choose to keep the improvement (with no financial liability to Tenant), or remove it and charge Tenant for the costs of removal and restoration. Landlord may deduct any costs of removal and restoration from Tenant's security deposit. If the security deposit is insufficient to cover the costs of removal and restoration, Landlord may take legal action, if necessary, to collect the balance. 9. If Tenant removes an item that is Landlord's property, Tenant will owe Landlord the fair market value of the item removed plus any costs incurred by Landlord to restore the premises to their original condition. 10. If Landlord and Tenant are involved in any legal proceeding arising out of this agreement, the prevailing party shall recover reasonable attorney fees, court costs and any costs reasonably necessary to collect a judgment. * * * WITNESS THE SIGNATURES OF THE PARTIES Date ___________________ Landlord ___________________________________ Date ___________________ Tenant _____________________________________ Date ___________________ Tenant _____________________________________