Renter's Insurance Addendum

("Lessee") and ,as agent for the Owner, Mark-Taylor Residential ("Lessor"), are parties to a lease dated (the "Lease") Covering the premises known as Apartment # (the "Apartment") located at . The Lease is hereby amended by adding the following provisions thereto (such provisions being incorporated into the Lease as if fully set forth therein):

1. 1. Lessee, at its sole cost and expense, shall at all times during the term of the Lease maintain general liability coverage for the acts and omissions of Lessee in the minimum amount of (on a per occurrence basis). Lessee may obtain the GL Policy from any qualified insurer.
2. 2. The GL Policy shall list Lessor as an “Interested Party” or “Additional Interest” on the Declarations page of the GL Policy and provide that Lessor shall receive written notice no less than thirty (30) days prior to the expiration or termination of the GL Policy.
3. 3. The GL Policy must extend coverage for negligent water damage Lessee may cause to Lessee's unit of possession.
4. 4. In the event that Lessee fails to obtain and maintain the GL Policy as required herein, Lessor shall have the right, to charge a non-compliance fee in the amount of $50.00 which shall be deemed to be additional rent under the Lease and immediately due and payable by Lessee to Lessor.
5. 5. In the event that Lessee is in default of this requirement at any time s/he agrees not to hold the property owner, management or employees liable for any damage to person or property.

All other terms and conditions of the Lease remain in full force and effect.

In witness whereof, this Addendum to Lease is executed as of the date set forth below.