Lease Guarantee Program. The Hospital agrees to act as the Guarantor in the event a House Officer’s landlord requires advance payment of up to two (2) months of rent (security deposit and/or last month’s payment), as a condition for entering into a lease (up to a maximum of $6,500). The Hospital shall guarantee payment to the landlord under specified terms, agreed upon by the Hospital and the Union. In return, the House Officer agrees to reimburse the Hospital for any payment the Hospital is required to make under the Guarantee.
Lease Guarantee Program. The Commission agrees to act as the Guarantor in the event a House Officer’s landlord requires advance payment of up to two (2) months of rent, as a condition for entering into a lease (up to a maximum of $6,500). The Commission shall guarantee payment to the landlord under specified terms, agreed upon by the Commission and the Union. In return, the House Officer agrees to reimburse the Commission for any payment the Commission is required to make under the Guarantee. Should the number of incoming House Officers using the program increase to greater than ten (10) on a yearly basis and the administration of the program present an undue burden on the Commission, the parties agree to meet to discuss possible solutions. Should no solution be apparent, the Commission may notify the Union their intent to terminate the program.
