Residential Rental Guarantee

RESIDENTIAL RENTAL GUARANTEE

This Residential Rental Guarantee (the "Guarantee") is executed as of by the Guarantor in favor of the Landlord to secure the obligations of the Tenant under that certain lease described below.

Property Identification

Parties

Lease Reference and Financial Terms

Lease Date:    Lease Term Commencement:    Lease Term Expiration:

Monthly Rent: $    Security Deposit: $    Late Fee: $

Guarantee Terms

For good and valuable consideration, Guarantor absolutely, unconditionally and irrevocably guarantees to Landlord the full and punctual payment of all rent, charges, late fees, repair and damage costs, utilities, indemnities, and other sums payable by Tenant under the Lease and the full and timely performance of all other obligations of Tenant (collectively, the "Guaranteed Obligations") for the period commencing on the Lease Term Commencement date and continuing until or until the Tenant's obligations under the Lease are otherwise discharged in writing by Landlord.

This Guarantee is a continuing, primary and direct obligation of Guarantor and is independent of the obligations of Tenant. Landlord may proceed against Guarantor to enforce this Guarantee without first exhausting remedies against Tenant, placing Tenant in default, or giving any notice to Guarantor. Guarantor waives any requirement that Landlord first pursue or exhaust any security, collateral or remedies it may have against Tenant or any other person or entity.

Guarantor agrees to pay on demand all costs and expenses incurred by Landlord in enforcing this Guarantee, including reasonable attorneys' fees, court costs and other collection expenses. Guarantor also agrees that any compromise, extension, alteration, renewal or other modification of the Lease, forbearance, waiver, or release granted by Landlord to Tenant shall not affect Guarantor's obligations hereunder unless Landlord executes a written release of Guarantor.

Waivers and Acknowledgements

Guarantor expressly waives (to the fullest extent permitted by law) any right to require that Landlord (a) proceed against Tenant or other guarantors, (b) first pursue any other remedy available to Landlord, (c) give notice of acceptance of this Guarantee, of default by Tenant, or of dishonor of any obligation, and (d) require Landlord to marshal any assets or collateral. Guarantor further waives any defense arising by reason of Tenant's lack of interest or the invalidity or unenforceability of any provision of the Lease, except as limited by mandatory law.

Representations and Warranties of Guarantor

Guarantor represents and warrants that: (a) Guarantor is duly authorized and has the capacity to execute and deliver this Guarantee and to perform its obligations hereunder; (b) execution, delivery and performance of this Guarantee do not and will not violate any agreement or instrument to which Guarantor is a party; and (c) no bankruptcy, insolvency, reorganization or similar proceeding is pending or threatened against Guarantor.

Indemnity, Subrogation, and Reimbursement

Guarantor shall indemnify and hold Landlord harmless from and against any and all losses, liabilities, claims, damages, costs and expenses (including reasonable attorneys' fees) arising from Guarantor's breach of this Guarantee. Upon payment by Guarantor of any amount pursuant to this Guarantee, Guarantor shall be subrogated to the rights of Landlord against Tenant to the extent of such payment; however, Guarantor shall not exercise any rights of subrogation until all Guaranteed Obligations have been indefeasibly paid in full.

Default, Remedies and Acceleration

Upon Tenant's default under the Lease, Landlord may declare all sums owing by Tenant immediately due and payable and may pursue any remedy permitted at law or in equity against Guarantor or Tenant. No delay or failure by Landlord to exercise any right shall operate as a waiver of that right.

Notices

All notices required or permitted hereunder shall be in writing and delivered personally, by nationally recognized overnight courier, or by certified mail, return receipt requested, to the address for each party set forth below or to such other address as a party may designate by written notice to the other parties.

Disclosures & Acknowledgements

The Guarantor acknowledges that Landlord has made the following disclosures regarding the Property as of the date of this Guarantee:

Known lead-based paint hazards disclosed    Known mold conditions disclosed    Prior material damage or structural issues disclosed

Governing Law; Miscellaneous

This Guarantee shall be governed by and construed in accordance with the laws of the state in which the Property is located without regard to conflict of laws principles. This Guarantee contains the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral. Any provision declared invalid or unenforceable shall be severed to the minimum extent necessary and the remaining provisions shall remain in full force and effect. This Guarantee may be executed in one or more counterparts, each of which shall be an original.

Remedies Cumulative; Attorneys' Fees

All remedies provided to Landlord under this Guarantee are cumulative and are in addition to all other remedies available at law or in equity. If Landlord institutes any action to enforce this Guarantee, Guarantor shall pay Landlord's reasonable attorneys' fees and costs, whether or not suit is filed.

Execution and Acceptance

Guarantor acknowledges receipt of a copy of the Lease and expressly accepts the terms of this Guarantee. Landlord's acceptance of this Guarantee is effective upon Landlord's signature below, which constitutes Landlord's express agreement to be bound by the terms and conditions set forth herein.

Sign Now