Renters Property Damage Release Program Addendum

This Addendum is attached to and becomes a part of the Lease Agreement. To the extent that the terms of this Addendum are inconsistent with the terms of the Lease, the terms of this Addendum shall control.

All residents are eligible to participate in the Community's Renters Property Damage Liability Release Program (the "RiskRelease Program"), which is considered to satisfy, or in lieu of, the requirements of the Renter's Insurance Addendum. Accordingly, Resident agrees to either (a) purchase and maintain an insurance policy as stated in the Renter's Insurance Addendum from an insurance company of his/her choice in accordance with the terms and conditions of that Addendum or (b) participate in the RiskRelease Program and pay the required monthly fee. The RiskRelease Program releases a resident's requirement under the Renter's Insurance Addendum to purchase and maintain general liability insurance.

Resident can enroll in this Program in one of two ways: (1) written notice to Landlord and payment of the applicable monthly charge for each and every month that Resident doesn't have the requisite property damage liability insurance; or (2) placement by Landlord in this RiskRelease Program as set forth below.

In consideration of timely payment of per month, this RiskRelease Program releases Landlord's claims for property damage against Resident for their negligent or accidental acts up to in property damages. The RiskRelease Program does not release Resident from liability to any third parties; it does not release Landlord's claims against third parties, including but not limited to, Resident's occupants and guests; it does not release claims against Resident for intentional acts; and it does not release Resident from claims of personal injury. The RiskRelease Program only applies to accidental damage caused by a participating resident's negligent acts, provided Resident has participated in the RiskRelease Program and paid the applicable $16.00 for all months when due including the month when the damage is incurred. The RiskRelease Program covers up to in property damage liability; any amount of damages in excess of remains the liability of Resident and subject to the terms of the Lease. This waiver only applies to accidental property damage caused by your negligent acts or omissions and does not apply to damages caused by your deliberate or intentional acts or omissions, and does not waive any personal injury claims. To participate in the program, prior to the damage occurring, Resident must have paid the $16.00 charge for the month in which the damage occurred, and have paid the charge for all prior month's when not compliant with the Renter's Insurance Addendum.

This RiskRelease Program only constitutes a waiver of claims that would be covered by insurance if it were in place. This Program is not in lieu of a deposit, and Resident remains liable for any damage caused to the property upon move-out, less reasonable wear and tear.

When and if enrolled, participation in the RiskRelease Program may be canceled at any time by providing Landlord or their authorized representative with a valid "Proof of Insurance" showing that resident has obtained property damage liability insurance from a licensed insurance provider ("Insurance Company") as required by the Lease. The Proof of Insurance provided must: (i) satisfy the requirements outlined in the Renter's Insurance Addendum ; (ii) identify Landlord as an "Interested Party" or "Additional Interest" to receive mailed NOTICES with a mailing address of PO Box 823191, Dallas, TX 75382 or, if Insurance Company only provides NOTICES by email, such email to the Interested Party and/or the Additional Interest must be emailed by the Insurance Company to pops@riskrelease.com; and (iii) correctly identify the Resident's insured address as it appears on the Lease. Resident shall provide Landlord or their authorized representative with Proof of Insurance showing the requisite coverage upon request.

Landlord may place Resident in the RiskRelease Program and charge Resident additional cost of $16 per month (the "Charge"), if, at any time during the term of the Lease, Landlord becomes aware that Resident's insurance coverage is not provided, is found to be invalid, canceled or lapses for any reason, or if the Proof of Insurance provided does not contain the required information.

Landlord may discontinue the RiskRelease Program at any time upon 30 days' written notice, or upon proof of Resident obtaining the requisite insurance. Upon receiving notice of Landlord's election to discontinue the RiskRelease Program, Resident shall comply with the Renter's Insurance Addendum. Landlord may change the Charge or the information required to appear on the Proof of Insurance at any time by providing Resident with thirty (30) days advance written notice of the change.

Landlord is under no obligation to place Resident in this RiskRelease Program. Resident assumes the risk of liability for any and all damages and liability incurred or sustained while Resident is not participating in this Risk Release Program and Resident has not satisfied the Renter's Insurance Addendum.

Notice to Residents: If you elect to participate in the RiskRelease Program, you are neither purchasing an insurance policy nor are you being listed as a named insured under any owner policy. The RiskRelease program does not cover your personal property and is not applicable in the event of theft, burglary, vandalism, bodily injury or personal injury. The RiskRelease Program is neither designed to be your exclusive insurance coverage for property damage, nor is it intended to replace a personal property or liability insurance policy. You should consult an insurance professional to evaluate and determine your own personal insurance needs.

By signing below, you acknowledge that you have read and understand this entire Addendum and agree to be legally bound hereby.