APARTMENT LEASE GUARANTY

This Apartment Lease Guaranty ("Guaranty") is executed by the person or persons whose name(s) is/are printed and signed below (collectively "Guarantor") in favor of Pitt Property Management and

Apartments ("Lessor"). Guarantor acknowledges:

    I. that
("Resident") has applied to enter into a lease with
Apartments, located in Greenville, NC, and
 
    II. that Lessor is not willing to enter into such lease with Resident unless Resident's obligations under such lease are personally and unconditionally guaranteed by the prospective Resident's parents, guardians or other sponsors.

Therefore, to induce Lessor to enter into such a lease with Resident (hereinafter the "Lessee"), Guarantor, whose relationship with Lessee is that of
, jointly and severally (if more than one Lessee), unconditionally guarantees to Lessor:

    I. the full punctual payment of all rent and other sums payable by Lessee under the Lease, including, if applicable, late fees, penalties and the costs and expenses (including reasonable attorneys' fees) of collection, and

    II. the due and punctual performance by Lessee of all terms, conditions, covenants and obligations under the Lease. This Guaranty is a continuing, absolute and unconditional guaranty of payment and performance, and Guarantor agrees that Lessor may enforce this Guaranty against Guarantor without first exercising any remedies it may have against the Lessee or any other party.
 
This Guaranty shall continue in force for any amendment, extension or renewal of the Lease, and Guarantor agrees that Lessor shall have no obligation to give notice or obtain consent from Guarantor for any such Lease amendment, extension or renewal. No compromise, release, postponement or delay on the part of the Lessor in the enforcement of any right under this Guaranty shall constitute a waiver of such right or affect the validity of the Guaranty. The Guarantor also waives presentment, demand of payment, protest, notice of dishonor or nonpayment of or nonperformance under the Lease, and specifically waives the benefits of N.C.G.S. 26-7 through 26-12. This Guaranty remains fully enforceable despite any claim, defense or counterclaim that the Lessee may or could assert against Lessor, all of which Guarantor waives along with any standing to assert any said claim, defense or counterclaim. This Guaranty shall inure to the benefit of Lessor's successors and assigns and shall be binding upon Guarantor's heirs, personal representatives and assigns. The Guarantor jointly and severally (if applicable) agrees to pay Lessor in the enforcement or attempted enforcement of this Guaranty, whether or not suit is filed in connection therewith. This Guaranty shall be interpreted under the laws of the State of North Carolina. Guarantor, with respect to any suit, action or proceeding instituted pursuant to or in connection with this Guaranty, irrevocably consents to the jurisdiction and venue of any state or Federal court in the Eastern District of North Carolina. If there is a single Guarantor, then all words used herein shall be deemed to have been used in the singular where the context and construction so require, and if this Guaranty is executed by more than one Guarantor, the word "Guarantor" shall mean all and anyone or more of them. The invalidity or unenforceability of anyone of or more provisions of this Guaranty shall not affect the validity or enforceability of its remaining provisions. This Guaranty may not be amended unless the same is in writing and signed by Lessor and Guarantor. Guarantor represents that the information shown on the Guaranty is true and complete, and authorizes Lessor or its authorized agents to verify same by obtaining a consumer report or by other means.
Secured by Formsite