Arizona Provision of Guaranty is a legal clause that is designed to protect the interests of landlords in the state of Arizona. This provision specifically states that any waiver or forbearance granted by the landlord to the tenant, in regard to the terms and conditions of the lease agreement, will not affect the obligations and liabilities of the guarantor. The purpose of this provision is to ensure that the guarantor remains fully accountable for their obligations, even if the landlord chooses to grant certain concessions or leniency to the tenant. This provision acts as a safeguard for landlords, ensuring that they can hold the guarantor responsible for any unpaid rent, damages, or other liabilities that may arise during the lease term. By including this provision in the lease agreement, landlords in Arizona are able to maintain a strong legal position and protect their financial interests. It serves as a reminder to the guarantor that they cannot evade their obligations simply because the landlord has waived certain terms or allowed the tenant some leniency. Different types of Arizona Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord may include: 1. Full Enforcement Provision: This type of provision states explicitly that any waiver or forbearance by the landlord in enforcing the terms of the lease agreement, whether in whole or in part, will not affect the guarantor's obligations. It ensures that the guarantor remains liable for the entirety of their guarantee, regardless of any concessions given to the tenant. 2. Limited Waiver Provision: In some cases, landlords may choose to include a provision that specifies a scenario or certain provisions that are subject to waiver or forbearance. However, even in these cases, this provision states that any such waiver or forbearance will not impact the guarantor's obligations for the remaining terms and conditions of the lease agreement. 3. Time-bound Provision: This variation of the provision may include a specific time limit for any waiver or forbearance provided by the landlord. It ensures that once the specified time period has lapsed, the guarantor's obligations will resume in full force, unaffected by any previous leniency granted to the tenant. In conclusion, the Arizona Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord is a crucial clause that protects the interests of landlords by holding the guarantor responsible for their obligations, regardless of any concessions made to the tenant. Different variations of this provision exist, including full enforcement provisions, limited waiver provisions, and time-bound provisions, providing flexibility for landlords to align the clause with their specific needs and circumstances.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.