RENTER’S ASSISTANCE AGREEMENT
THIS AGREEMENT (the “Agreement”) is made and entered into this __th day of ________(the “Effective Date”) between HisHouseYourHouse LLC, incorporated in Texas USA (“HHYH”) and [Full name and address of individual requesting assistance] (the “Individual”).
WHEREAS, HHYH was formed for the purpose of assisting individuals to move into residential rental property by providing the security deposit and/or first month`s rent directly to the landlord.
WHEREAS, the Individual is seeking financial assistance from HHYH as more fully described below and HHYH is willing to provide such assistance provided the Individual agrees to and abides by the terms of this Agreement.
NOW THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, accepted and agreed to, the Individual and HHYH agree to the terms set forth below.
1. THE RENTAL
The Individual will sign a rental agreement for a residence with the address of [Rental Property Address](the “Property”)owned or managed by [Landlord name]with a business address of [Landlord`s address](the “Landlord”).The Landlord may be contacted at the following telephone number and email address [Landlord’s telephone number and email].
2. THE FINANCIAL ASSISTANCE
(a) HHYH will provide a one-time lump sum payment of [USD] to the Landlord on or about [Date payment to be made]to facilitate the Individual entering into a lease for the Property.
(b) The payment shall be for the security deposit (the “Security Deposit”) and/or first month`s rent for the Property (the “First Month’s Rent”) (collectively, the “Payments”).
(c)The Payments will be made directly to the Landlord via wire transfer directly into the account of the Landlord or by check made out to the Landlord.
(d) The Payments are conditional upon no change in the employment or family status of the Individual between signing of this Agreement and when the payment is made or no other negative information has become known to HHYH regarding the honesty and integrity of the Individual.
(e) The Payments may further be conditional on the Landlord agreeing to sign a separate agreement with HHYH agreeing that any Security Deposit to be returned at the end of the lease will be returned directly to HHYH and not to the Individual.
3. THE COMMITMENT
(a) The Individual represents, warrants and commits to (i) abide by all the terms of the lease including making all lease payments on time, and (ii) maintain the Property in outstanding condition including ensuring that the Property is kept neat, clean and free of debris at all times.
(b) The Individual agrees to promptly (with 48 hours) notify HHYH in the event (i) there is any damage to the Property or other incident that could cause the Security Deposit to be withheld at the end of the lease term, or (ii) the Individual loses employment or other circumstances arise which could negatively impact the Individual’s ability to timely pay rent.
4. DEFAULT
The Individual hereby acknowledges and agrees if either of the Commitments in Section 3 above are violated, the Individual shall be immediately in default of this Agreement and shall owe HHYH the amount of any Payments made (less any amounts returned to HHYH). This obligation shall be an acknowledged and valid debt of the Individual and HHYH will immediately request payment. If payment is not made within 30 days, HHYH can initiate collection actions against the Individual for such amounts.
5. TERM
The term of this Agreement shall be from the Effective Date of this Agreement until the Individual is no longer enrolled at the Educational Institution, provided, however, HHYH can terminate the agreement and its obligations at any time for any reason.
6. MISCELLANEOUS.
(a) ENTIRE AGREEMENT; AMENDMENT. This Agreement is the sole agreement between HHYH and the Individual and it cannot be modified unless in writing.
(b) GOVERNING LAW. This Agreement shall be governed by and interpreted in accordance with laws of the State of Texas without giving effect to any conflict of laws provisions.
(c) COUNTERPARTS. This Agreement may be executed in counterparts, each of which is an original. It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts. Facsimile signatures and signatures transmitted by PDF shall be equivalent to original signatures.
(d) SURVIVAL. The covenants, representations and warranties in this Agreement shall survive the termination of this Agreement.
IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this Agreement as of the date first above written.