Guarantee of Lease

This Guarantee of Lease is between a landlord and an individual who will guarantee the terms under a lease for another party. This guarantee sets out the names of the landlord and tenant and the date of the lease agreement. It also sets out that the guarantor will promptly pay all rental payments in the event the tenant defaults on the rental obligation. When entering into this type of arrangement is it imperative that it be clearly set out in writing. (continued ...)