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Agreement Of Guarantee Of Rental Under Lease
AGREEMENT made on [Date] by and between [Name] of [Address], hereinafter referred to as "Landlord", and [Name] of [Address], hereinafter referred to as "Tenant", and [Name] of [Address], hereinafter referred to as "Guarantor", the parties mutually agree as follows:
In consideration of the lease of premises by Landlord to Tenant, Guarantor shall guarantee the prompt payment and payment of all liabilities arising out of that certain lease agreement dated [Date], between Landlord and Tenant, related to premises known as:
Unit [--], Building [--], Lot [--], Block[--], Premises Acres [--].
By this agreement Guarantor agrees that upon failure to pay any obligation related to the lease, that the Guarantor, upon demand, shall immediately pay the same, in full. However, it is agreed that the total limit of Guarantor's liability shall be [$------] exclusive of interest thereon and costs of collection. This guarantee will apply to any renewals or extensions of this lease.
The invalidity or unenforceability of any portion of this Agreement shall not affect the remaining provisions and portions hereof.
This Agreement including any attachments is the entire agreement between the parties and there are no other promises or conditions in any other agreement whether oral or written.
This Agreement supersedes any prior written or oral agreements between the parties.
This Agreement shall be binding upon the parties hereto and their respective heirs, administrators, successors, and assigns.
Neither this agreement nor any right or interest thereunder shall be assigned in any respect whatsoever.
This instrument contains all of the agreements of the parties. No oral or other statements shall be binding on either of the parties hereto.
This Agreement shall be governed by the laws of the State of [State].
Time is the essence of this agreement.
IN WITNESS WHEREOF, the parties have executed this agreement the day and year as first above written at [City], [State].
This Section for Notary:
STATE OF -------)
) ss: [date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]