Partial Payment and Promissory Note: This is an agreement between a Landlord and Tenant. It states that the Landlord, although not required by law, will accept partial rent as payment in full. He/She will only accept this arrangement if the Tenant continues to make payments toward his/her debt. This form is available for download in both Word and Rich Text formats.
Glendale Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages A Glendale Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages is a legally binding agreement between a landlord and a tenant in Glendale, Arizona. This document outlines the terms and conditions for the tenant to make partial payments towards their rent arbitrages, which means the outstanding rental payments they owe to the landlord. The purpose of this agreement is to provide a solution for tenants who are facing financial difficulties and are unable to pay their rent in full. It allows them to make partial payments towards their outstanding rental debts while still residing in the rental property. The Glendale Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages typically includes the following key elements: 1. Parties Involved: This section outlines the names and contact information of both the landlord and the tenant. 2. Property Details: It includes the address of the rental property in Glendale, Arizona, and any other relevant information about the premises. 3. Rent Arbitrages: This section states the total amount of rental arbitrages owed by the tenant to the landlord at the time of entering into the agreement. 4. Partial Payment Agreement: The agreement specifies the agreed-upon amount the tenant will pay as partial payment towards their rent arbitrages. It also outlines the schedule and frequency of the partial payments. 5. Promissory Note: This portion of the agreement serves as a legal promise from the tenant to repay the remaining balance of their rent arbitrages within a specified time frame. It includes the agreed-upon interest rate (if any) for any unpaid balance. 6. Late Fees and Penalties: This section clarifies any additional charges or penalties that may apply if the tenant fails to adhere to the terms of the agreement, such as late fees for missed partial payments. 7. Termination and Eviction: The document may contain provisions regarding potential eviction procedures or consequences if the tenant fails to make the agreed-upon partial payments or fulfill their obligations as outlined in the agreement. It's important to note that while the overall structure and purpose of the Glendale Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages remain similar, there may be variations or specific types based on individual circumstances. For example, there could be different versions of the agreement based on the length of the partial payment plan or specific terms agreed upon by both parties. Overall, this agreement acts as a formal and legally binding arrangement between a landlord and a tenant in Glendale, Arizona, to address rent arbitrages in a mutually agreed-upon manner.
