Guarantor Form

 
GUARANTOR FORM ONTARIO

RESIDENTIAL TENANCY AGREEMENT

In consideration of the Owner renting the Rented Premises to the Resident (Tenant), the Guarantor, and if more than one of them, jointly and severally, guarantees to the Owner, its successors and assigns, the payment by the Resident of rent (and all other sums of money in accordance with the provisions of this Lease) and that the Resident will perform and observe all their covenants, agreements and obligations under this lease.

The Guarantor agrees that he/she is primarily liable to the Owner and that he/she will not be released nor his/her liability under this Lease be limited or lessened by any variation in or departure from the terms of the Lease nor by the Owner granting time, accepting proposals, granting releases or otherwise dealing with any of the Residents.

The Owner is not bound to exercise or exhaust its remedies against the Residents, their property or against any other person before enforcing its rights against the Guarantor.

The Resident and Guarantor expressly acknowledge and agree, that together with the other occupants and Guarantors of the Rented Premises control the access to the whole of the rented premises, its common elements and individual rooms and as such agree to be jointly and severally liable together with other Occupants of the Rented Premises for any damage caused to the common area elements during the term of this agreement. The Resident and Guarantor further agree to immediately report any such damage to the Owner forthwith upon such damage occurring, including particulars as to the person(s) who caused such damage.

Guarantor Form

ALL GUARANTORS SIGNING THIS AGREEMENT TAKE FULL RESPONSIBILITY FOR ALL OF THE TERMS AND CONDITIONS IN THE “RESIDENTIAL TENACY AGREEMENT” THAT THE TENANT IS RESPONSIBLE FOR, SIGNED BY THE TENANT FOR WHOM THEY ARE THE GUARANTOR.