Common use of GUARANTOR REQUIREMENT Clause in Contracts

GUARANTOR REQUIREMENT. Lessor may require as a condition of this Contract, that Resident’s parent or sponsor guaranty this Contract by co-signing below where indicated. Lessor shall have the option of canceling this Contract in the event Resident fails to obtain Co- Signer’s signature and returns co-signed Contract to the Agent within fifteen (15) days from the date of execution of this Contract by Resident. It is understood that the Co-▇▇▇▇▇▇ signature must be obtained directly from the Resident’s parent or sponsor and that Lessor reserves all rights, both civil and criminal, for any false execution or forgery of such guaranty. If a Resident does not have a qualified guarantor, as determined by Lessor, then Lessor reserves the right to require that Resident pay the last two month’s rent upon execution of this Contract.