APPENDIX A - GUARANTOR FORM
Eastwood & Simcoe (2011) INC.
In consideration of the Landlord entering into the Tenancy Agreementin respect of the Rented Premises with the Tenant, Guarantor hereby acknowledges and covenants that if the Tenant shall at any time default under the Tenancy Agreement with respect to payment of Rent or theperformance of the Tenant's covenants on the days or in the manner set forth in the Tenancy Agreement, Guarantor will pay the said Rent or perform the covenant and shall compensate the Landlord and/or Authorized Representative for any damages that may arise in consequence of the Tenant's default, including payment of legal fees on a substantial indemnity basis. The liability of the Guarantor hereunder shall not be released, discharged orlimited by any extension of time or forbearance granted to the Tenant or by any variation in or departure from the terms of the Tenancy Agreement. The Landlord and/or Authorized Representative shall not be bound to exhaust its recourse or remedies against the Tenant before pursuing and enforcing its rights against the Guarantor. The Guarantor shall be released from this Guarantee only upon payment in full of all Rent and/or any other sums due and owing and/or performance of any and all covenants under the Tenancy Agreement until the lawful termination of the Tenancy Agreement.
If during the term of the Tenancy Agreement the Tenant shall make an assignment for the general benefit of creditors, or a receiving order in bankruptcy shall be madeagainstthe Tenant, and the assignee or trustee, as the case may be, should surrender possession, reject, disaffirm or disclaim the Tenancy Agreement, or if the Tenancy Agreement is terminated other than by surrender accepted by the Landlord and/or Authorized Representative, the Guarantor shall, forthwith, upon the demand of the Landlord and/or Authorized Representative, at the Guarantor's expense, accept from the Landlord and/or Authorized Representative a new Tenancy Agreement for the Rented Premises (hereinafter called the "New Tenancy Agreement") for a term of equal duration to the remainder of the term under the Tenancy Agreement from the date of such surrender, disclaimer or termination at the same Rent and with the same terms, conditions and covenants contained in the Tenancy Agreement. If the Landlord and/or Authorized Representative shall tender such New Tenancy Agreement to the Guarantor for execution and the Guarantor shall fail or refuse to execute and return such New Tenancy Agreement within seven (7) days after such tender, the Guarantor shall become liable to pay to the Landlord and/or Authorized Representative forthwith as damages, and not penalty, any Rent that was due and owning under the Tenancy Agreement and an amount equal to the amount of Rent payable to the end of the term under the New Tenancy Agreement. Upon payment of all damages, the Guarantor shall be released from this Guarantee.
The total amount to be paid by the Guarantor shall not be diminished or offset by the Landlord and/or Authorized Representative renting the demised premises or any part thereof to another tenant or tenants and receiving rent there from. The Landlord and/or Authorized Representative, however, may, at their sole discretion, apply any amount received from such renting in reduction of the amount to be paid by or due from the Guarantor. In this Guarantee, whenever the context so requires, if there is more than one Guarantor, their liability shall be joint and several. The Guarantor shall continue to be liable and bound by this Guarantee during any renewals and extensions, statutory or otherwise, of the term of the Tenancy Agreement.This Guarantee shall be binding upon the heirs, executors, administrators, personal representatives, successors and assigns of the Guarantor.
The Applicant and Guarantor certify that all the information provided in this document is true and correct and answered to the best of his/her current knowledge and hereby give permission to the Landlord or their Agent(s) to obtain at any time a consumer/credit report(s), to contact employers, previous Landlord references, and to take any other reasonable steps necessary to assess this Rental Application to enforce the terms of any tenancy agreement, or for any renewal or extension of the tenancy. The Applicatnt and Guarantor consent to the Landlord or their Agent(s) to disclose information in the Rental Application and information arising from any tenancy between either of the Applicant or Guarantor to any third party for the purposes of providing a consumer/credit report(s) or contributing to a database of tenant information made available to the Landlord or their Agent(s).
I/We agree to pay to Eastwood and Simcoe (2011)Inc., as Landlord, as deposit in an amount equal to one month's rent, being the amount noted below, and acknowledge that if the Landlord accepts, this application such amount will be applied towards the last month's rent. In the event the Landlord rejects this application or if a room is unavailable, the Landlord will refund the full last month's rental deposit. In the event that the Applicant and/or Guarantor provide false information, fail to pay any balances due on the date due, or cancels this application, the deposit shall automatically become non-refundable and shall be retained by the Landlord. Refunds can take up to five (5) business days from denial.
The applicant and Guarantor agree to deposit the some of $________ as prepaid rent to be applied towards the last month under the Tenancy Agreement.