UTC Housing Parental Guarantor
By paying the $225 reservation fee and accepting a room assignment, you are agreeing to the terms of the UTC Housing Parental Guarantor and certifying that you have discussed this in full with your parent, legal guardian or sponsor. Furthermore, you are stating that your parent, guardian or sponsor understands and accepts the following terms.
The Housing Contract is incorporated herein and has been entered into by the resident, subject to completion as appropriate. UTC Housing, requires, as a condition of the acceptance by Landlord of the Housing Contract, a guarantee by the prospective Resident’s parent(s), guardian, or other sponsor. The requirement of this Guaranty is in recognition that most Residents in such community do not have independent financial means, but this Guaranty shall be in force irrespective of the financial means of the Resident.
Guarantor (legal parent, guardian or sponsor) authorizes Landlord to use reasonable and necessary means to obtain payment from the parent, guardian or sponsor in the event the Resident’s financial obligations have not been fulfilled.
The Guarantor(s) acknowledges that it shall have liability under this Guaranty, notwithstanding any of the foregoing:
- That the Landlord renews the Housing Contract, grants Resident extensions of time within which to pay amounts due or perform any of Resident’s obligations under the Housing Contract, or the fact that the Guarantor was not notified of any changes or amendment to the Housing Contract;
- The inability of the Resident or any other guarantor to be responsible under the Housing Contract or this Guaranty by virtue of their legal incapacity or disability
- The fact that the guarantor was not given prior notice of the default by Resident under the Housing Contract.
- In addition to the amounts guaranteed, Guarantor(s) agrees to pay a reasonable attorney’s fee and all costs imposed under the terms of the Lease or required as appropriate in enforcement of this Guaranty.
THE EXECUTION OF THIS DOCUMENT IS A MATERIAL INDUCEMENT FOR LANDLORD TO ENTER INTO A HOUSING CONTRACT, AND LANDLORD FULLY RELYING UPON THE DUE AND VALID EXECUTION BY THE APPLICANT WHOSE NAME IS SHOWN ON THE ELECTRONIC HOUSING APPLICATION SYSTEM. FURTHER, THIS GUARANTY SHALL REMAIN IN EFFECT FOR THE ENTIRE TERM OF THE HOUSING CONTRACT, OR ANY SUBSEQUENT HOUSING CONTRACT, IN WHICH THE RESIDENT HAS ENTERED.