Fill and Sign the Rhode Island Guaranty or Guarantee of Payment of Rent Form

GUARANTY OF PAYMENT OF RENT This agreement for the Guaranty of Payment of Rent is entered into on this, the ___ day of _______________, 20___, between the Lessor, ______________________________ , and the Guarantor, ______________________________ , for the guarantee by Guarantor to Lessor of rent payments by the Lessee, ______________________________ , under the Lease Agreement between Lessor and Lessee for the leased premises addressed as follows: Said Lease Agreement is incorporated herein by reference or by attachment hereto. Guarantor shall guarantee the payment to Lessor of the rental specified in the above described Lease Agreement, of $__________ per month, owed by Lessee. The total guaranty shall be for $__________ for the entire term of the lease, said term being as indicated in the above described Lease Agreement. Guarantor’s address is as follows: Guarantor agrees and understands that if Lessee fails to timely pay rent (‘timely payment’ being receipt of rent on or before the ____ day of the month), Guarantor must pay same (with all attendant late charges owing up to the time of receipt of payment by Lessor) withi n five (5) days of Lessor placing written notice in the United States mail, postage pre-paid, addressed to Guarantor’s above-stated address, indicating that Lessee has failed to timely pay re nt. Guarantor understands and agrees that by entering into this Guaranty of Payment of Rent, Guarantor is jointly, severally and individually liable with Lessee for rent payments under the L ease agreement up to the amount of the guarantee as described above. Guarantor agrees that breach of sa id Lease Agreement shall not be triggered by Guarantor’s failure to pay within three days of receipt of notice, but rather by Lessee’s failure to timely pay rent. Payment by Guarantor wi thin five (5) days of notice being placed in the mail by Lessor as described above shall be conside red a cure of the Lessee’s breach for non-payment of rent, and Lessor agrees not to terminate said Le ase until the expiration of the five (5) day period described herein. Guarantor shall deliver any payments to the Lessor at the following address: In consideration of this Guaranty, Lessor has agreed to grant (or agreed to continue without termination for a past breach for failure to pay rent), said Lease Agreement as describe d herein. Lessor reserves all rights under applicable law and under the Lease Agreement, including t he right to terminate the Lease Agreement for any future failure by Lessee to timely pay rent. * * * WITNESS THE SIGNATURES OF THE PARTIES HERETO: Lessor: _______________________________________ Dated: ________________ Guarantor: ____________________________________ Dated: ________________