Common use of RELEASE OF RESIDENT Clause in Contracts

RELEASE OF RESIDENT. Except under the military clause below, Resident will be subject to the same release standards as imposed by savings and loans and mortgage companies, i.e. Resident will not be released on grounds of voluntary or involuntary school withdrawal or transfer, voluntary or involuntary business transfer, marriage, divorce, loss of co-residents, bad health, voluntary enlistment in the armed services, or any other reason. In the event Resident is or becomes a member of the armed forces on extended active duty and receives change-of-station orders to permanently depart the local area, or is relieved from such active duty, then Resident may terminate the lease by giving 30-days written notice, provided Resident is not otherwise in default. In such event, Resident agrees to furnish Owner a certified copy of the official orders which warrant termination of the lease. Military permission for base housing does not constitute a permanent change-of-station order.