This Guaranty of Lease (“Guaranty”) is between the Landlord and the Guarantor signing below.
1. This Guaranty concerns any lease (“Lease”) between Landlord and the tenant.
2. All changes to this Guaranty must be written and signed by the Landlord and Guarantor to be valid.
3. The Guarantor unconditionally and irrevocably guarantees prompt payment of all sums due under the Lease, such as for rent, damage, fines, utilities, and late fees, for the portion of the Lease owed by the Tenant.
4. This is a continuing Guaranty, which remains valid despite renewals, extensions, or changes to the Lease. This Guaranty remains valid in favor of the Landlord regarding the Tenant as to anyother lease the Tenant subsequently enters into with the Landlord, even a lease of a different dwelling.
5. The Landlord is not required to attempt collection from, make demand on, or pursue any other remedy against, the Tenant before collection under this Guaranty.
6. This guaranty may be signed before the Lease is signed, and this guaranty becomes effective immediately upon the Lease being signed.
7. The Landlord is not required to keep the Guarantor aware of the Tenant’s defaults before making demand upon the Guarantor.
8. The Landlord’s demand upon the Guarantor shall be made by U.S. Mail, certified, return receipt requested, to the last address of Guarantor known to the Landlord. Mailing, not actual receipt by the Guarantor, is adequate demand. The Guarantor is entitled to 21 days after mailing of demand before payment is due. If payment is not made within 21 days, interest accrues at 12% per year.
9. All disputes will be resolved in Mecklenburg County, NC, where the Guarantor consents to personal jurisdiction. North Carolina law controls. All lawsuits concerning this Guaranty will be in the State courts of North Carolina. The Landlord may recover all reasonable attorneys fees and costs to enforce this Guaranty.