Attached files
Exhibit
10.5
Tenant
Agreement | WECOSIGN™
Tenant
Agreement
Thank you
for participating in the WECOSIGN
™ program created by WECOSIGN ™ Inc (the
“Company”). This Agreement (this “Agreement”) sets forth the terms
and conditions of your relationship with the company, and your and their
respective obligations. The parties to this Agreement are:
(a) The
Company;
(b) You,
the undersigned Tenant; and
(c) If
applicable, the undersigned Responsible Party (the “Responsible
Party”).
In this
Agreement, the terms “you”, “your”, “me”, “I”, “my” and “mine” refer to you, the
undersigned Tenant. This Agreement applies to the Lease
PLEASE
ACKNOWLEDGE THAT YOU HAVE READ AND AGREE TO THE FOLLOWING IMPORTANT TERMS BY
SIGNING THE SIGNATURE PAGE.
I
understand that this Agreement and the issuance of the Rental Payment Guarantee
(as defined below) will not under any circumstance relieve me of my obligation
to pay rent for the Residential Property, and will not protect me from or
prevent an eviction if I do not pay my rent.
I
understand that if I do not pay my rent, or meet my other obligations to the
Landlord (as defined below); the Landlord may make a claim under the Rental
Payment Guarantee. If such a claim is paid by WECOSIGN ™ , I agree
that I will reimburse WECOSIGN ™ for all amounts that WECOSIGN ™has
paid to the Landlord as a result of a claim made under the Rental Payment
Guarantee . WECOSIGN ™ has the right to sue me to collect those amounts, and I
will be obligated to pay reasonable attorneys fees and all costs and expenses
incurred by WECOSIGN ™ to collect those amounts. I understand that I
have waived my right to a jury trial in any such lawsuit, and as a result, I
will not be entitled to a jury trial in any such lawsuit. I also certify that I
have had independent legal counsel review this agreement on my
behalf.
I
understand that the guarantee provided by WECOSIGN
™ is solely for the benefit of the Landlord and that I have no
right to seek any benefits from or payments under the Rental Payment Guarantee
.
I
understand that WECOSIGN ™is not my
agent or representative, and WECOSIGN™ is not acting
on my behalf, except that of a cosigner and or guarantor that will allow me to
occupy an apartment or rental residential dwelling that I would not ordinarily
qualify for on my own.
RECITALS
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A.
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I
would like to enter into a lease for a Residential Property, but have been
informed by the property owner (the “Landlord”) that I do not meet the
Landlord’s qualifications for a
lease;
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B.
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I
understand that I will qualify to enter into a Lease for the Residential
Property (the “Lease” if my performance under the Lease is guaranteed by a
third party acceptable to the
Landlord;
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C.
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I
would like to purchase WECOSIGN’s™
program guarantying my performance under the terms of the
Lease;
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D.
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I
have submitted an application to purchase the services of WECOSIGN™ (“the
Company”), and have been notified by WECOSIGN™ that my
Application has been approved.
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TERMS AND CONDITIONS OF THIS
AGREEMENT
In
consideration of the payment (as defined in Section 3 below), and the mutual
promises and covenants set forth herein, the parties agree as
follows:
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1.
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Rental
Payment Guarantee . WECOSIGN ™ agrees that upon
my
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a.
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payment
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b.
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entering
into a Lease with the Landlord and making any required payments in
connection with including but not limited to payment of the first month’s
rent or a security deposit), WECOSIGN ™ will issue a Rental
Payment Guarantee certificate to the Landlord guaranteeing my performance
under the terms of the Lease.
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2.
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Accuracy
of Information. I represent and promise
that
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a.
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all
information that I provided to WECOSIGN ™ in the Application continues to
be true and complete, I agree that any intentional or
false information given is ground for refusal of my
application.
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b.
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I
will immediately notify the Company if as a result of subsequent events
any of the information I provided to the Company in the
Application ceases to be true or
complete.
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3.
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Obligation to Pay
WECOSIGN™.
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A.
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The
Application fee is non-refundable.
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B.
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The
monthly fee is due upon the signing of the Lease and continues for eleven
months (due on the 1st
of each month). This fee is exclusive of security deposits and any other
fees and charges and is not intended as, nor is it to be construed as, a
payment to the Landlord, and is not considered a payment of rent or other
consideration to the Landlord.
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4.
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Obligation
to Pay the Landlord. I
UNDERSTAND, AND EXPRESSLY AGREE AND
ACKNOWLEDGE, THAT ANY ASSISTANCE
PROVIDED TO ME BY THE
LANDLORD IN
CONNECTION WITH MY PURCHASE OF THE RENTAL
PAYMENT GUARANTEE FROM
WECOSGIN™,
DOES NOT IN ANY WAY RELIEVE ME OF ANY OF MY OBLIGATIONS TO MAKE
PAYMENTS
DIRECTLY TO
THE LANDLORD UNDER THE
LEASE. Specifically with respect to rent, during the
term of this Agreement I understand and agree that I am obligated to pay
rent to the Landlord pursuant to the terms of the Lease, and that nothing
contained herein or in the Rental Payment Guarantee is intended to excuse
me, or is to be construed as excusing me, from my rent obligation under
the Lease. I acknowledge that the WECOSIGN
™ is not a party to the Lease, and that I negotiated the
terms of the Lease directly with the Landlord, and that WECOSIGN
™ was not party to the negotiations or the
Lease.
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5.
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Nature
of Rental Payment Guarantee . I acknowledge and agree that the
Rental Payment Guarantee is purchased for the benefit of the Landlord that
allows me to qualify to enter into the Lease. I further acknowledge and
agree that I have no rights or obligations under the Rental
Payment Guarantee . I expressly acknowledge and agree that I am not a
third-party beneficiary, or any other type of beneficiary with standing or
capacity to receive any benefits under the Rental Payment Guarantee . In
order to induce WECOSIGN ™ to
enter into this Agreement, I agree that I will not, under any
circumstance, claim any benefit under the Rental Payment Guarantee
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6.
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Reimbursement
Obligation. I understand
that if I fail to meet certain obligations under the Lease, the Landlord
will have the right to make a claim under the Lease Payment Guarantee.
For each payment paid by the Company, I will immediately reimburse the
Company for the amount of the payment paid to the Landlord under the
Rental Payment Guarantee . I understand and agree that my obligation to
reimburse the Company in the event a payment is paid is entirely
independent of any rights or obligations I may have under the Lease.
Within ten (10)
Days of the mailing of a written demand for reimbursement by or on behalf
of the WECOSIGN
™, I will immediately reimburse WECOSIGN ™ for
all amounts paid by WECOSIGN ™ to the
Landlord (the “Reimbursement Payment”). Any demand for
reimbursement will be mailed to me via overnight delivery service at the
address set forth below (or to any other address that the Company or its
agents may have in its records for me). In the event that I fail to make
the Reimbursement Payment, WECOSIGN ™ will
have the right to commence a lawsuit against me and may recover the amount
of the Reimbursement Payment plus all reasonable attorneys’ fees and costs
of collecting the Reimbursement
Payment.
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I AGREE
THAT
(A) SERVICE OF PROCESS IN
ANY LAWSUIT TO COLLECT
THE REIMBURSEMENT PAYMENT MAY BE MADE BY
CERTIFIED MAIL, RETURN RECEIPT REQUESTED OR OVERNIGHT DELIVERY (AT THE COMPANY’S
SOLE OPTION) TO THE ADDRESS FOR NOTICES SET FORTH, AND
(B) I HEREBY WAIVE THE RIGHT
TO A JURY TRIAL IN ANY SUCH LAWSUIT.
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7.
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Responsible
Party. By signing the attached signature page, the Responsible
Party agrees
to be jointly and severally liable with me, the undersigned Tenant, for
any and all economic
obligations set forth in this Agreement. The Responsible Party agrees to
the terms and conditions set forth in paragraph “6” above regarding any
demand for reimbursement ,including but not limited
to
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(a) the
obligation to pay the Company’s attorneys fees and expenses,
(b)
accepting service of process by certified mail, return receipt requested
by overnight
delivery service in the event a lawsuit is filed
(c)
waiver of the right to a jury trial.
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8.
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Co-Tenants.
If I am sharing the Apartment with one or more co-tenants, I understand
and agree that the Company will be able to seek the full performance of
all obligations under the Lease and this Agreement from me, even if a
co-tenant may be responsible for a failure to perform any Lease obligation
or payment obligation under this
Agreement.
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9.
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Books
and Records. Promptly upon receipt of a written request by the
Company, I will provide copies of all documents concerning the Lease to
the Company, including but not limited to documents related to rent,
security deposit, and physical damage payment records and correspondence
with the Landlord.
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10.
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Term. This Agreement and the
coverage described in the Rental Payment Guarantee will not under any
circumstance apply to any extensions of the term of or renewals of the
Lease. In the event that the Lease is terminated by the Landlord prior to
its expiration for any reason, neither I, the undersigned Tenant, nor the
Responsible Party will be entitled to any refund or rebate of the fee,
unless otherwise required by law. The reimbursement obligation set forth
in paragraph “6” above will survive any expiration of this
Agreement.
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11.
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Notices.
Notices by any party to any other party may be delivered by hand, by
certified mail, return receipt requested, or by overnight delivery
service, at the addresses stated
below.
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12.
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Acknowledgement. As a material
inducement to WECOSIGN ™, I
acknowledge and represent that I am entering into this Agreement of my own
free will, without coercion or any undue influence of any type whatsoever.
After reviewing this Agreement and the Rental Payment Guarantee , and
taking all relevant factors into consideration, along with consulting
independent legal advice I have decided to enter into this Agreement so
that I may qualify to lease the Residential Property and WECOSIGN ™ has
not participated in or influenced that decision in any
way.
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13.
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Governing
Law. This
Agreement will be interpreted in accordance with the laws of the State of
California, without regard to principles of conflicts of
law.
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14.
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Miscellaneous. Any amendments or
modifications to this Agreement will only be effective if they are in
writing and signed by the person against whom enforcement of the amendment
or modification is sought. No oral modifications or waivers of any of the
requirements of this Agreement will be
effective.
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15.
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Partial
Invalidity. If any
provision in this agreement is held by a court of competent jurisdiction
to be invalid, void, or unenforceable, the remaining provisions shall
never the less continue in full force and in effect without being impaired
or invalidated in any way.
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16.
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Payment I
hereby authorize WECOSIGN ™ its
agents or assigns, the authority to deduct any initial fees due the
company including but not limited to monthly service payments from my ;
credit card, check card, or checking account that they now have on file.
Should any one of these payment instruments become void, invalid or
dishonored, I realize that I will be in default of my obligatory payments.
Should I become re-instated at the option of the company, I agree to be
responsible for any additional “actual charges” that the company incurs as
a result of any credit card or check processing back
charges.
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17.
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This
agreement is not Insurance I fully understand that this
tenant agreement or the Rental Payment Guarantee is not held out, nor is
it represented in any language or kind as an insurance policy on goods,
property, damages, casualty, comprehensive, autos, trailers , rents, boats
malicious mischief, acts of God or floods. This agreement is not to be
interpreted (express or implied) in any way that could be interpreted as
an insurance policy under any law. This agreement does not provide
unemployment coverage’s and is an instrument of guarantee (co-signing) for
the applicant’s rent, and the tenants rent only, subject to the default
terms and conditions of the Rental Payment
Guarantee.
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Booklet Number ;
2536 Dated September 2008
COPYRIGHT 2008 WECOSIGN INC
ALL RIGHTS ARE RESERVED
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SEE APPLICATION PAGE FOR
TENANTS SIGNATURES
WECOSIGN™
www.wecosign.com
714-556-6800
©2008
All rights are reserved
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