RENTAL CONCESSION ADDENDUM
THIS RENTAL CONCESSION ADDENDUM was made and entered into on this
day of , 20
, by and between
Apartments, hereinafter referred to as "Landlord" and
, hereinafter referred to as "Resident"; and
WHEREAS, this addendum shall be made a part of the residential lease agreement
signed between the parties concerning the premises noted above; and
NOW THEREFORE, in consideration of the mutual covenants contained herein and
other good and valuable consideration the Landlord and the Resident hereby agree as follows:
1. The Resident shall receive from the Landlord a rental concession in the amount
of $
for rent due in the month of . Such rental payment is hereby
provisionally waived by the Landlord and the rent for the month of
shall be $ .
2. The Resident understands and acknowledges that this rental concession is based
upon Resident's rental payment being made on a timely basis in accordance with the contract to
lease. Resident understands that as a condition of the concession, all rental payments are due on
or before the first day of the month and late after the
day of the month.
3. The Resident understands if he/she defaults under the terms of the lease at any
time during the lease term by failing to make timely payment or issuing a check to the Landlord
which is later dishonored by the bank, Resident shall be required to repay in full as additional
rent
, such concession amount noted in paragraph 1 in the same month that such default outlined
in this paragraph occurs.
4. The Resident further understands and acknowledges that this rental concession is
valid only for a fulfilled lease term. If the early termination clause is to be exercised (see
paragraph
of the lease agreement), the Resident must repay the concession amount noted in
paragraph 1 in addition to the cancellation fee.
Resident
Authorized Agent for the Landlord
Resident
Resident(s):
Address:
