A certain Agreement as previously amended, incorporated herein by reference ("Lease"), first
made on ____________________________, with term ending (as renewed) on __________________________, currently
binds original or duly substituted parties Thomas C Veatch ("Owner") and ________________________,
___________________________, ___________________________, ___________________________, ____________________________,
and ___________________________ ("Resident(s)"). The parties wish to amend the Lease by
substituting certain parties, subject to the Lease, as follows. |
___________________________ ("Departing Resident" or "DR") is a natural person currently signatory to the Lease or a Renewal who wishes to vacate the Premises while satisfying Lease obligations, with forwarding address __________________________________________________________________.
___________________________ ("Successor Resident" or "SR") is a natural person who wishes to join the Lease as a Resident, while taking over certain of Departing Resident's rights and obligations under the Lease.
Successor Resident has submitted a rental application and passed a background check.
Now therefore in consideration of the mutual promises herein, the parties agree as follows:
Departing Resident shall vacate the Premises as of _______________________ ("vacating date"), leaving his or her private space(s) / room in move-in condition per the Move In / Out checklist.
Owner shall inspect the Premises with attention to DR's personal space after DR has vacated and other Resident(s) are done with any work therein, and shall be given reasonable time, as needed, to return the space to move-in condition before SR moves in, with any lost rent, labor, and material costs to be charged to DR. Other Residents are hereby permitted to carry out that work and to charge Owner therefor. DR's share of deposit will be returned to DR by Owner via a single check mailed to the forwarding address within a month of the vacating date, less non-refundable deposit and any applicable charges, along with a statement of account.
The Lease is hereby amended as to signatory parties, substituting SR for DR as of the vacating date. Owner, SR, and remaining Residents agree to, and recommit to each other under, the Lease as amended. SR is hereafter bound by all the terms of the Lease the same as any other Resident as though an original signatory of the Lease. SR may occupy the Premises after the space is in move-in condition and after payment of his/her share of deposit and the remainder of that months' rent. Deposit is to be paid to Owner directly, rather than by SR to DR. DR is released from obligation to pay further rent under the Lease after the vacating date, only if: (1) All Residents as a group are paid up on rent, deposit, and any other applicable charges, (2) Successor Resident has paid SR's share of deposit and first month's rent, and (3) DR is not then in default of a Lease obligation to Owner or other Residents.
In witness whereof, the parties have executed their agreement as of_________________________.