Common use of Monthly or Installment Payments Clause in Contracts

Monthly or Installment Payments. If a Tenant is: [i] on a Semester Lease; [ii] not using financial aid to pay rent; [iii] requesting installment payments in lieu of semester payments; and [iv] agrees to a handling fee of Five ($5.00) Dollars per payment, and Landlord must: [i] receive written request from Tenant for an installment payment plan; [ii] approve an alternate payment schedule PRIOR to the rent due date; and [iii] Tenant must sign a Lease Addendum for an alternate payment schedule. In the event Tenants fail to comply with this provision, late fees will be applied back to the original due date of rent as stated in Paragraph 3G below.

Monthly or Installment Payments. If a Tenant is: [i] on a Semester Lease; [ii] not using financial aid to pay rent; [iii] requesting installment payments in lieu of semester payments; and [iv] agrees to a handling fee of Five ($5.00) Dollars per payment, and Landlord must: [i] receive written request from Tenant for an installment payment plan; [ii] approve an alternate payment schedule PRIOR to the rent due date; and [iii] Tenant must sign a Lease Addendum for an alternate payment schedule. In the event Tenants fail to comply with this provision, late fees will be applied back to the original due date of rent as stated in Paragraph 3G below3A above.