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New Jersey Residential Lease Guaranty and Guarantor Application

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                             This Residential Lease Guaranty and Guarantor Application is used where a guarantor
                             guarantees the performance of the tenant under a residential lease agreement. It provides
                             that if the tenant fails to make any payments or otherwise breaches the lease, the guarantor
                             will make such payments to the landlord or cure the tenant's breach. This document
                             contains both standard clauses as well as opportunities for customization to ensure that the
                             understandings of the parties are properly set forth. A guarantor application is also
                             included for the landlord to obtain detailed information about potential guarantors. This
                             document should be used by a landlord and tenant located in New Jersey when entering
                             into a lease with a guaranty provision.
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                             RESIDENTIAL LEASE GUARANTY

1. LEASE DESCRIPTION: In consideration for Landlord’s leasing the Property to Tenant,
   the undersigned Guarantors guarantee the performance of all Tenants under the lease
   (hereinafter the “Lease”) as described below:

   Landlord(s): _________________________. [Instruction: Insert the name/s of landlord/s]

   Tenant(s): __________________________. [Instruction: Insert the name/s of tenant/s]

   Property:
   ___________________________________________________________________________
   ___________________________________________________________________________
   [Instruction: Insert proper address and description of the property]

   Commencement Date: ____ [Month] ____ [Date], 20____.

   Expiration Date: ____ [Month] ____ [Date], 20____.

   Monthly Rent: _______ ($___) [Instruction: Insert the monthly rent, e.g., fifty dollars
   ($50)].

2. PAYMENTS: If any Tenant fails to make any payment under the Lease, Guarantors will,
   upon demand, make such payment to Landlord or Landlord's agent. Payments under the
   Lease include, but are not limited to rent, late charges, returned check charges, attorney's
   fees, repair costs, pet charges, utility charges, reimbursements to Landlord, maintenance
   charges, charges for property damage, and other costs or charges specified in the Lease. If
   Tenant otherwise breaches the Lease, Guarantors will, upon demand:

   a. cure the breach as the Lease may require of Tenant; or

   b. compensate the Landlord for Landlord's loss resulting from the breach.

3. DURATION AND NOTICES: This guaranty applies when the Lease commences and
   continues until the Lease ends, including any extension or renewal of the Lease. Guarantors
   waive any rights to receive notice of any acceptance, modification, amendment, extension,
   renewal, or breach of the Lease.

4. JOINT AND SEVERAL LIABILITIES: Guarantors are jointly and severally liable for all
   provisions of this guaranty.

5. ATTORNEY’S FEES: Any person who is a prevailing party in any legal proceeding
   brought under or related to this Lease is entitled to recover reasonable attorney's fees from
   the non-prevailing party.

6. SEVERABILITY: If any term of this Residential Lease Guaranty is held by a court of
   competent jurisdiction to be invalid or unenforceable, then this Residential Lease Guaranty,



© Copyright 2011 Docstoc Inc. registered document proprietary, copy not             2
   including all of the remaining terms, will remain in full force and effect as if such invalid or
   unenforceable
				
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Description: This Residential Lease Guaranty and Guarantor Application is used where a guarantor guarantees the performance of the tenant under a residential lease agreement. It provides that if the tenant fails to make any payments or otherwise breaches the lease, the guarantor will make such payments to the landlord or cure the tenant's breach. This document contains both standard clauses as well as opportunities for customization to ensure that the understandings of the parties are properly set forth. A guarantor application is also included for the landlord to obtain detailed information about potential guarantors. This document should be used by a landlord and tenant located in New Jersey when entering into a lease with a guaranty provision.
This document is also part of a package Essential New Jersey Legal Documents 85 Documents Included