Guarantor Agreement and Lease Guarantee

I/We (hereinafter known as "Guarantor(s)") agrees to be financially responsible for all obligations of under the lease or rental agreement dated (hereinafter known as "the Lease") between Resident and (hereinafter known as "Owner" for the premises located at (hereinafter known as "The Premises").

Guarantor(s) understands and agrees that:

1. 1. Guarantor(s) will be fully liable for all financial obligations of Resident arising under the Lease, including all applicable rent, taxes, late charges, NSF fees, deposits, physical damages to Premises, and any other financial obligation of any nature whatsoever arising out of the Lease or Resident's occupancy of Premises.
2. 2. The Guaranty cannot be canceled unless Owner agrees in writing to permit its cancellation. Accordingly, once you sign this Guaranty, you will lose the ability to change your mind even if you later decide you no longer wish to be responsible for Resident's financial obligations.
3. 3. Owner's can elect to pursue Guarantor(s) and not Resident for collection of any financial obligations under the Lease. Guarantor(s)'s obligations are independent of those of Resident, and both Guarantor(s) and Resident are jointly and severally liable for any financial obligations as defined in Paragraph #1 above.
4. 4. Owner is not required to give Guarantor(s) notice of defaults by Resident before commencing legal action against Guarantor(s) arising out of any such defaults.
5. 5. Guarantor(s) will remain fully liable under this Guaranty until such time as Resident vacates the subject premises or such time as the Lease terminates whichever comes later. Guarantors(s) are also responsible for all renewals of the lease terms.
6. 6. Should Owner and Resident agree to change the terms of the Lease, even if Guarantor(s) is given no notice of such change of terms, Guarantor(s) will remain fully liable for the financial obligations of Resident as altered by any such changes.
7. 7. The waiver by Owner of its rights against Guarantor(s) on any one occasion shall not constitute a continuing waiver of Owner's rights to enforce this Guaranty.
8. 8. Guarantor(s) warrants that the information set forth by Guarantor(s) on the application and any financial information submitted to Owner by Guarantor(s) is true and correct, and understands that Owner has relied on such financial information and has relied upon the Guaranty in entering into the Lease.
9. 9. Should the ownership or management of The Premises change, the new owners or managers shall have the right of subrogation and may enforce all rightful and legal claims against the Guarantor(s).
10. 10. This Guaranty of Payment, coupled with the Lease, constitutes the entire agreement between the parties with respect hereto, and may not be altered, modified, or terminated, unless such alteration, modification, or termination is in writing and signed by all parties to the Guaranty. Guarantor(s) further agrees that this agreement shall be deemed to be made under, and shall be construed in accordance with and shall be governed by, the laws of the State of Arizona applicable to contracts executed within and wholly performable within such state, and suit to enforce any provision of the Guaranty of Payment or to obtain any remedy with respect hereto may be brought in Justice Court and/or Superior Court of Maricopa County, Arizona and for this purpose each party hereby expressly and irrevocably consents to the jurisdiction of said court.

Guarantor's Acceptance