Late Rent Payment Agreement
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Covenant To Preserve Residency An agreement between, NAME, the Manager and Agent for the Owner of the BUILDING; (Manager)
and, _________________________________, a tenant of the BUILDING (tenant), with the purpose of maintaining the residency of the tenant in unit #______of the BUILDING, the parties agree to
the following: 1. That the tenant currently owes $___________ in past due rents and fees. 2. That the tenant will owe an additional $____________ in rents and fees by the termination date of this covenant. 3. That the tenant will owe a total of $____________ in rents and fees by the termination date of this covenant. 4. That the tenant will (a) pay these rents and fees in whole by or before the termination date of this covenant, or; (b) abide by the payment plan attached to this covenant. 5. This covenant will terminate on _________________________________ at 5:30PM. In consideration of the above, the Manager grants the tenant the time between the date this covenant is executed and the date this covenant is terminated to pay all rents and fees as stipulated above. The Manager will refrain from exercising, while still reserving in full, the legal rights granted him under the rental agreement between the parties and California law for the remedy of non payment of rent. Both parties reserve the right to withdraw from this covenant at any time by notifying the other party in writing. Upon such a withdrawal by either party, the rents and fees listed above shall become due immediately and in full. This agreement shall not be construed as to diminish or disparage any rights of either party whatsoever. This agreement is merely a temporary accommodation with the intent of preserving the residency of the tenant while protecting the rights of the Manager and his employer. This agreement constitutes an acknowledgement by the Tenant that the above rents and fees are valid and accurate, and that the Manager is legally entitled to them. _____________________________________ _____________________________________ Tenant’s Signature
Manager’s Signature
_______________ Date
_______________ Date
and, _________________________________, a tenant of the BUILDING (tenant), with the purpose of maintaining the residency of the tenant in unit #______of the BUILDING, the parties agree to
the following: 1. That the tenant currently owes $___________ in past due rents and fees. 2. That the tenant will owe an additional $____________ in rents and fees by the termination date of this covenant. 3. That the tenant will owe a total of $____________ in rents and fees by the termination date of this covenant. 4. That the tenant will (a) pay these rents and fees in whole by or before the termination date of this covenant, or; (b) abide by the payment plan attached to this covenant. 5. This covenant will terminate on _________________________________ at 5:30PM. In consideration of the above, the Manager grants the tenant the time between the date this covenant is executed and the date this covenant is terminated to pay all rents and fees as stipulated above. The Manager will refrain from exercising, while still reserving in full, the legal rights granted him under the rental agreement between the parties and California law for the remedy of non payment of rent. Both parties reserve the right to withdraw from this covenant at any time by notifying the other party in writing. Upon such a withdrawal by either party, the rents and fees listed above shall become due immediately and in full. This agreement shall not be construed as to diminish or disparage any rights of either party whatsoever. This agreement is merely a temporary accommodation with the intent of preserving the residency of the tenant while protecting the rights of the Manager and his employer. This agreement constitutes an acknowledgement by the Tenant that the above rents and fees are valid and accurate, and that the Manager is legally entitled to them. _____________________________________ _____________________________________ Tenant’s Signature
Manager’s Signature
_______________ Date
_______________ Date
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