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.
Lima Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages is a legally binding agreement between a landlord and tenant in the state of Arizona. This document outlines the terms and conditions under which the landlord accepts partial payment from the tenant for outstanding rent arbitrages. In situations where tenants are unable to pay their rent in full, landlords may agree to accept a partial payment along with a signed promissory note. The promissory note serves as a formal acknowledgment of the debt and establishes a repayment plan for the remaining arbitrages. The Lima Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages typically includes the following key elements: 1. Tenant and Landlord Information: The names, addresses, and contact details of both parties involved in the agreement are stated clearly at the beginning of the document. 2. Payment Acknowledgment: The landlord acknowledges receipt of a partial payment towards the rent arbitrages, specifying the amount received and the date of payment. 3. Promissory Note: This section outlines the terms of the repayment plan, including the total amount owed, the due dates for future payments, and any applicable interest or late fees. 4. Tenant Obligations: The tenant agrees to make the agreed-upon payments according to the outlined schedule, ensuring that all future rent payments are made on time. 5. Late Payment Consequences: The consequences of not adhering to the repayment plan are stated in this section. It may include additional late fees, potential eviction, or legal action. 6. Governing Law: The agreement specifies that it is governed by the laws of the state of Arizona and that any disputes arising from the agreement will be resolved through arbitration or litigation as outlined in Arizona laws. Different types of Lima Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages may exist, depending on the specific terms agreed upon by the landlord and tenant. These variations could include different repayment periods, interest rates, or late payment penalties. It is important for both parties to thoroughly read and understand the terms outlined in the Lima Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages before signing. Seeking legal advice or consulting a professional may be beneficial to ensure complete comprehension and protect the rights and obligations of both the landlord and tenant.Lima Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages is a legally binding agreement between a landlord and tenant in the state of Arizona. This document outlines the terms and conditions under which the landlord accepts partial payment from the tenant for outstanding rent arbitrages. In situations where tenants are unable to pay their rent in full, landlords may agree to accept a partial payment along with a signed promissory note. The promissory note serves as a formal acknowledgment of the debt and establishes a repayment plan for the remaining arbitrages. The Lima Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages typically includes the following key elements: 1. Tenant and Landlord Information: The names, addresses, and contact details of both parties involved in the agreement are stated clearly at the beginning of the document. 2. Payment Acknowledgment: The landlord acknowledges receipt of a partial payment towards the rent arbitrages, specifying the amount received and the date of payment. 3. Promissory Note: This section outlines the terms of the repayment plan, including the total amount owed, the due dates for future payments, and any applicable interest or late fees. 4. Tenant Obligations: The tenant agrees to make the agreed-upon payments according to the outlined schedule, ensuring that all future rent payments are made on time. 5. Late Payment Consequences: The consequences of not adhering to the repayment plan are stated in this section. It may include additional late fees, potential eviction, or legal action. 6. Governing Law: The agreement specifies that it is governed by the laws of the state of Arizona and that any disputes arising from the agreement will be resolved through arbitration or litigation as outlined in Arizona laws. Different types of Lima Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages may exist, depending on the specific terms agreed upon by the landlord and tenant. These variations could include different repayment periods, interest rates, or late payment penalties. It is important for both parties to thoroughly read and understand the terms outlined in the Lima Arizona Partial Payment Acceptance and Promissory Note for Rent Arbitrages before signing. Seeking legal advice or consulting a professional may be beneficial to ensure complete comprehension and protect the rights and obligations of both the landlord and tenant.
