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Oklahoma Residential Lease Guaranty and Guarantor Application

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Oklahoma Residential Lease Guaranty and Guarantor Application Powered By Docstoc
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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 Oklahoma 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,



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   including all of the remaining terms, will remain in full force and effect as if such invalid or
   unenforceable term had never been included.

7. APPLICATION TO VERIFY CREDITWORTHINESS: [Instruction: Mark “X” next
   to the applicable statement]

   Guarantors _____ will or _____ will not submit an application that authorizes Landlord or
   Landlord's agent to verify information related to Guarantors' creditworthiness.

8. SPECIAL PROVISIONS:

   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________

   [Instruction: Insert any special provision if required]

Guarantor/s may request a copy of the above-referenced Lease at any time from the Tenant or the
broker to the Lease.

_________________________________________                      ____ [Month] ____ [Date], 20____.

[Instruction: Insert the signature of Guarantor#1]

________________________________________________

[Instruction: Insert typed/printed name of Guarantor#1]

_________________________________________                      ____ [Month] ____ [Date], 20____.

[Instruction: Insert the signature of Guarantor#2]

________________________________________________

[Instruction: Insert typed/printed name of Guarantor#2]




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             APPLICATION FOR GUARANTOR OF RESIDENTIAL LEASE

   This application relates to the following described Lease:

   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)].

[Instruction: Insert the overall personal details of Guarantor #1]

1. Guarantor's name: ________________________

   Address: _________________________________

   E-mail: __________________________________

   Home Phone: _____________________________

   Work Phone: _____________________________

   Mobile/Pager: ____________________________

   Social Security Number: ___________________

   Driver License Number: ________________ in ________ [Instruction: Insert the State]

   Date of Birth: ____ [Month] ____ [Date], 20___

   Height: _________________________________

   Weight: _________________________________

   Eye Color: _______________________________

   Hair Color: ______________________________

   Marital Status: ___________________________


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   Citizenship: ______________________________ [Instruction: Insert the Country]

[Instruction: Insert the employment details of Guarantor #1]

   Employer: _______________________________

   Employer's Address: ______________________

   Supervisor's Name: _______________________

   Phone: __________________________________

   Fax:____________________________________
   Start Date: _______________________________

   Gross Monthly Income: ________ ($___)

   Position: ________________________________

[Instruction: Insert the overall personal details of Guarantor #2]

2. Guarantor's name: ________________________

   Address: _________________________________

   E-mail: __________________________________

   Home Phone: _____________________________

   Work Phone: _____________________________

   Mobile/Pager: ____________________________

   Social Security Number: ___________________

   Driver License Number: ________________ in ________ [Instruction: Insert the State]

   Date of Birth: ____ [Month] ____ [Date], 20___

   Height: _________________________________

   Weight: _________________________________

   Eye Color: _______________________________

   Hair Color: ______________________________

   Marital Status: ___________________________

   Citizenship: ______________________________ [Instruction: Insert the Country]


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[Instruction: Insert the employment details of Guarantor #2]

   Employer: _______________________________

   Employer's Address: ______________________

   Supervisor's Name: _______________________

   Phone: __________________________________

   Fax: __________________________________

   Start Date: _______________________________

   Gross Monthly Income: ________ ($___)

   Position: _________________________________

Guarantors submit the following non-refundable fee(s) for processing and reviewing this
application: ________ ($___) [Instruction: Insert the amount, e.g., fifty dollars ($50)] for
Guarantor #1 and ________ ($___) [Instruction: Insert the amount, e.g., fifty dollars ($50)]
for Guarantor #2.

Guarantors authorize Landlord and Landlord's agents to obtain a copy of Guarantors' consumer
or credit reports and to verify relevant information related to each Guarantor's creditworthiness
from banks, creditors, employers, existing and previous landlords, and other persons.

________________________________________                       ____ [Month] ____ [Date], 20____.

[Instruction: Insert the signature of Guarantor #1]

______________________________________________

[Instruction: Insert typed/printed name of Guarantor #1]

________________________________________                       ____ [Month] ____ [Date], 20____.

[Instruction: Insert the signature of Guarantor #2]

______________________________________________

[Instruction: Insert typed/printed name of Guarantor #2]




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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 Oklahoma when entering into a lease with a guaranty provision.
This document is also part of a package Essential Oklahoma Legal Documents 144 Documents Included