Common use of Guarantee of Obligations Clause in Contracts

Guarantee of Obligations. The Guarantor does hereby individually and unconditionally guarantee to Owner the full, punctual, and complete performance by Resident of all obligations of Resident to Owner under the Contract including, but not limited to, extensions or renewals of the Contract (whether for the same or different Premises), when Resident transfers to a different unit within the Community or when rent or other charges are increased in accordance with or after the stated term of the Contract. Guarantor does hereby guarantee to pay all amounts owed pursuant to the Contract including, but not limited to, rent, late charges, property damage, repair costs, fees imposed pursuant to the Rules and Regulations, utility payments, attorney’s fees incurred in the enforcement of the Contract, and all other sums which may become due under the Contract from Guarantor, as if Guarantor executed Contract as Resident whether or not Owner seeks recovery from Resident or other occupants of Resident’s Unit. Guarantor expressly recognizes that Guarantor shall have no right to possession of the Premises identified in the Contract and that this Guaranty creates no obligation on Owner to provide any benefits whatsoever to Guarantor. This Guaranty shall be in force irrespective of the financial means of the Resident. In the event the Resident submits an executed Housing Contract but does not submit an executed Guaranty of Resident Obligations as and when required by Owner, Owner shall have the right to require the Resident to honor its obligations under and comply with all obligations of the Housing Contract.

Guarantee of Obligations. The Guarantor does hereby individually and unconditionally guarantee to Owner the full, punctual, and complete performance by Resident of all obligations of Resident to Owner under the Contract including, but not limited to, extensions or renewals of the Contract (whether for the same or different Premises), when Resident transfers to a different unit within the Community or when rent or other charges are increased in accordance with or after the stated term of the Contract. Guarantor does hereby guarantee to pay all amounts owed pursuant to the Contract including, but not limited to, rent, late charges, property damage, repair costs, fees imposed pursuant to the Rules and Regulations, utility payments, attorney’s fees incurred in the enforcement of the Contract, and all other sums which may become due under the Contract from Guarantor, as if Guarantor executed Contract as Resident whether or not Owner seeks recovery from Resident or other occupants of Resident’s Unit. Guarantor expressly recognizes that Guarantor shall have no right to possession of the Premises identified in the Contract and that this Guaranty creates no obligation on Owner to provide any benefits whatsoever to Guarantor. This Guaranty shall be in force irrespective of the financial means of the Resident. In the event the Resident submits an executed Housing Lease Contract but does not submit an executed Guaranty of Resident Obligations as and when required by Owner, Owner shall have the right to require the Resident to honor its obligations under and comply with all obligations of the Housing Lease Contract.