Attached files
Exhibit
10.6
RENTAL
PAYMENT GUARANTEE
WECOSIGN™
A
Payment Guide for Owners and Agents
RENTAL Payment Guarantee
Booklet
In
consideration of the fee paid by the TENANT, WECOSIGN™, (WECOSIGN™ Inc
hereinafter referred to as WECOSIGN) guarantee’s
Landlord (Landlord hereinafter referred to as OWNER/AGENT)against loss of rents
as measured by the lease value, with respect to the terms of the TENANT’S lease
and conditions set forth below.
Condition One – General
Definitions
When used
in this RENTAL PAYMENT GUARANTEE BOOKLET unless otherwise indicated or compelled
by the context in which used words and phrases appearing in this condition, one
shall have meanings as ascribed herein:
Apartment:
A residential apartment or residential home lease to a TENANT pursuant to
a lease and specified in the RENTAL PAYMENT GUARANTEE issued on behalf of such
Tenant hereunder.
Business
Day: Any day
other than a Saturday, Sunday or other day on which commercial banks in
California are required to be closed.
Claim
Payment Date: The
date that is five (5) Business Days after receipt by WECOSIGN™ or its
designee of an Initial Claim or Loss Payment Certification.
Covered
Default: With respect to a LEASE, the earliest to occur of any of the
following:
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(a)
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The
recovery of possession of the Apartment or rental home by the OWNER/AGENT
following termination of such LEASE as a result of a TENANT’S Default,
pursuant to
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(i)
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an
Eviction Proceeding, whether the OWNER/AGENT recovery of possession is as
a result of a judicial determination or a stipulation of Settlement by way
of Judgment.
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(ii)
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any
agreement entered into between the TENANT and the OWNER/AGENT terminating
such RENTAL prior to the LEASE Expiration will not be consider a Loss
under this RENTAL PAYMENT GUARANTEE
PROGRAM.
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Term: With respect to a
LEASE, the period of time that runs concurrent with the dates on said LEASE, not
to exceed 12 months.
Eviction: Proceeding means with
respect to a TENANT’S Default, a legal proceeding brought by or on behalf of the
OWNER/AGENT to terminate all of such TENANT’S rights with respect to an
Apartment and to recover possession of such Apartment.
Initial
Claim: The first
written request for a PAYMENT following a Default made in accordance with this
RENTAL PAYMENT GUARANTEE.
OWNER/AGENT: With respect to a LEASE, the
person or entity designated as the Landlord under such LEASE, and any successor
of such person or entity by virtue of the sale of the property in which an
Apartment is located, provided WECOSIGN™ has received
notice in writing of the transfer of interest. If WECOSIGN™ has not received
notice in writing of
such transfer, WECOSIGN’S™ sole
obligation hereunder will be to the OWNER/AGENT identified under such LEASE as
of the date of the LEASE.
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Guarantee
or Guarantor:
Guarantee or guarantor means WECOSIGN Inc. as,
Guarantor.
RENTAL:
With respect to a guarantee, the written LEASE agreement between a TENANT and
the OWNER/AGENT for occupancy of the Apartment identified in such RENTAL PAYMENT
GUARANTEE. A LEASE will only qualify for our RENTAL PAYMENT GUARANTEE hereunder
if it provides for equal monthly payments of rent, and
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(a)
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is
for a term of one year or more an optional extension of time by mutual
agreement,
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(b)
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is
for a term of one year plus a partial month, provided that the prorated
Monthly Rent for the partial month is collected by the
landlord / agent owner, with the first month’s rent at the
inception of the lease, or
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(c)
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Is
for a term of one year, plus up to three months for which no Monthly Rent
will be charged, provided that the free rent period occurs at the end of
the lease term.
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LEASE Expiration: The date upon which a lease
ends in accordance with its original provisions.
RENTAL
Payment Guarantee: An amount equal to the Monthly Rent multiplied by
twelve.
Default: Respect to a lease, the
amount of loss expected to be incurred by the OWNER/AGENT as a direct result of
a Covered Loss as of the time of the Loss, determined in accordance with the
provisions of Condition Seven of this RENTAL PAYMENT GUARANTEE.
Default
Adjustments: Are:
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(i)
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the
payment of use and occupancy during the pendency of an Eviction
Proceeding;
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(ii)
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any
applicable credits, including but not limited to the Application of the
Security Deposit or the proceeds of re-renting an Apartment as provided in
Condition Six hereof.
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Default
Payment: With respect to our RENTAL PAYMENT GUARANTEE, the amount paid by
the guarantor in accordance with Condition Seven hereof.
Monthly
Rent: With respect to a LEASE, the amount of basic rent required to be
paid in equal monthly installments by a TENANT to the OWNER/AGENT pursuant to
such lease. Monthly Rent does not include and expressly excludes any security or
other deposits, late fees, penalties, pass through items, service charges, items
defined in such LEASE as “additional rent,” attorneys fees or costs of rent
collection, or any fees that are not basic rent required to be paid by such
TENANT to the OWNER/AGENT pursuant to such lease or otherwise.
Plenary
Action: With respect to a LEASE, an action brought by the OWNER/AGENT to
obtain a judgment for money only against a TENANT based upon a TENANT’S
Default.
Fee:
The amount paid by a TENANT as consideration for WECOSIGN™ providing
coverage in accordance with this RENTAL PAYMENT GUARANTEE.
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TENANT:
The person or persons designated as TENANT or TENANTS under a
lease.
TENANT’S
Default: With respect to a lease, the failure of the TENANT, without
fault or collusion on the part of the OWNER/AGENT, to fulfill any one or more of
his or her obligations under such lease.
Security
Deposit: With
respect to a lease, any sums paid by the TENANT to the OWNER/AGENT as security
in respect to such lease.
Condition
Two:
Term of
Guarantee: RENTAL PAYMENT GUARANTEE will be in force for the guarantee
Period only, as specified in the applicable guarantee and or payment
certificate
Extension
or Renewal of Lease: Under no circumstance will coverage be provided for
any renewal or extension of a lease beyond the lease Expiration, unless a new
RENTAL PAYMENT GUARANTEE is issued following the submission by the TENANT and
the approval by WECOSIGN™ of a new
application. or continuing guarantee.
Condition
Three;
Termination
by the Owner/Agent: Coverage may be terminated by the OWNER/AGENT only
with the prior written consent of the applicable TENANT under a particular
lease, and upon written notice of such termination to WECOSIGN™. Any such
termination will be effective as of the date it is received, and will completely
relieve WECOSIGN ™ of any and
all liability hereunder, except with respect to any Claim made prior to the
effective date of such termination. In the event of any such termination, no
portion of any fees will be refunded except to the extent required by applicable
law.
Termination
of Guarantee by WECOSIGN™: WECOSIGN™ will not have
the right to terminate this guarantee issued hereunder except as stated herein.
Notwithstanding any other provisions in this guarantee, WECOSIGN ™ will have
the right in its sole discretion to terminate this RENTAL PAYMENT GUARANTEE
issued hereunder, immediately and without notice, if:
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(a)
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Without
the prior written consent of WECOSIGN™,
if the OWNER/AGENT permits or agrees
to
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(i)
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a
material change or modification to a
lease,
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(ii)
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assignment
of a lease (except as expressly permitted pursuant to Condition Sixteen
hereof), or
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(iii)
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subletting
of an Apartment; or
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(b)
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The
OWNER/AGENT has submitted a fraudulent Claim to WECOSIGN™ under
its RENTAL PAYMENT GUARANTEE, or has otherwise breached a material
obligation of the RENTAL PAYMENT
GUARANTEE
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Condition
Four:
Exclusions
from RENTAL PAYMENT GUARANTEE.WECOSIGN™ will not be
liable under any circumstances, and our guarantee is not included and is
specifically excluded hereunder, for any loss caused by or resulting from any of
the following:
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(a)
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Constructive
Eviction. A TENANT’S Default arising from a TENANT’S inability to
Occupy an Apartment, to the extent such inability directly results from or
is caused by physical damage to the apartment or other circumstances
constituting a constructive eviction as such term is defined by applicable
law, regardless of the cause of such constructive
eviction.
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(b)
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Failure
to Comply with Law. A TENANT’S Default directly resulting from or
caused by the OWNER/AGENT failure to comply with applicable law or
regulations.
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(c)
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Holdover
Proceeding or Action for Ejectment. Any loss arising subsequent to
the lease Expiration in a holdover eviction proceeding or an action for
Ejectment brought by the
OWNER/AGENT
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(d)
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Misrepresentation
and Fraud. Any loss, for which the Claim contains any Material
Misstatement, Material Misrepresentation or Material Omission, or involves
any act of Fraud by the
OWNER/AGENT.
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(e)
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Third
Party Claims. Any damages awarded, including, but not limited to,
equitable relief, against the OWNER/AGENT arising out of or relating to a
claim for payment made by a third-party based upon a TENANT’S acts or
omissions.
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(F)
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Out
of Pocket Costs. Out-of-pocket costs incurred by the OWNER/AGENT,
including but not limited to reasonable attorneys’ fees, administrative
fees, and management
fees.
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Defense
of Claims: WECOSIGN™ will not, and
will have no obligation to, provide a defense to/or defend the OWNER/AGENT
against any claims made in connection with a lease, whether such claims are
brought by a TENANT or by any third-parties.
Condition
Five:
It is a
condition precedent to the RENTAL Payment Guarantee Coverage hereunder
that:
A. Action after
Default;
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No
later than fifteen (15) days after any occurrence of a TENANT’S Default
for which the OWNER/AGENT seeks guarantee hereunder, the OWNER/AGENT will
either
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Commence an
Eviction:
Proceeding
of evection process for the purposes of this paragraph, the date of a TENANT’S
Default will be the earlier of
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(i)
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the
actual date of the occurrence of such TENANT’S Default if the action or
omission to act giving rise to such TENANT’S Default occurs on a date
certain, or
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(ii)
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the date the
OWNER/AGENT serves the TENANT with a notice to cure relating to such
TENANT’S Default in the event the action giving rise to such TENANT’S
Default does not occur on a date
certain.
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(a)
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The
OWNER/AGENT will promptly furnish WECOSIGN ™ with
copies of all notices, pleadings, and papers served, filed or otherwise
required in connection with the Initial Action, and any other relevant
documents that may be requested by or on behalf of WECOSIGN™
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(b)
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WECOSIGN™
is relieved from any obligation to provide payment for, and this RENTAL
PAYMENT GUARANTEE will not pay any loss resulting from the OWNER/AGENT
failure
to proceed with the COMMENCMENT
OF THE EVICTION PROCESS in a timely
manner.
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More
specifically, no later than 15(fifteen) days after TENANT’S Default the
OWNER/AGENT shall, in accordance with the State Laws of the OWNER/AGENT State,
immediately initiate, as set forth above, the EVICTION
PROCESS.
With
respect to the Initial Action, the failure of the OWNER/AGENT to furnish all
required documents to the WECOSIGN™ pursuant to
this Condition Five will give the WECOSIGN™ the right, in
its sole and absolute discretion, to deny coverage for any losses arising out of
the related TENANT’S Default. Any such losses will be the sole and direct
responsibility of the OWNER/AGENT.
B.
Security
Deposit:
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For
each RENTAL, the OWNER/AGENT shall collect at least one month Security
Deposit, which shall be applied as set forth in Condition Six hereof. In
addition to the of collecting the Security Deposit, the OWNER/AGENT may,
at the inception of the RENTAL, collect the Monthly Rent for the first and
twelfth month of the lease
term.
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C.
Right of
Inspection:
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(a)
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Upon
reasonable notice to the OWNER/AGENT, WECOSIGN™ will
have the right to inspect the Apartment following a Loss under the RENTAL
PAYMENT GUARANTEE;
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(b)
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In
the event the OWNER/AGENT intends to apply more than half of a Security
Deposit to the repair of any damage to the Apartment for which such
Security Deposit is held, then prior to repairing such damage, the
OWNER/AGENT must notify WECOSIGN™ of such
intent in writing, and allow WECOSIGN™ to
inspect such damage before the repair of such damage is commenced. WECOSIGN™ will
conduct any such inspection within three (3) business days of receipt of
written notice from the OWNER/AGENT of its intention to so apply the
Security Deposit.
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The
failure of the OWNER/AGENT to comply with this condition precedent will give
WECOSIGN™, at
its sole discretion, the right to reduce the amount of the Loss covered
hereunder by the amount of such Security Deposit.
Condition
Six:
A.
Re-Renting of
Apartment Application of Security Deposit
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(1)
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Re-Renting
of Apartment or rental home. Upon the occurrence of a Loss, the
OWNER/AGENT will in good faith seek to re-rent the Apartment, and the
amount of rent received in respect of such re-renting during the period
corresponding to the remaining unperformed portion of the RENTAL shall be
considered a Default Adjustment.
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(2)
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WECOSIGN™
Right to Perform. In the event that a TENANT vacates an Apartment prior to
the applicable lease Expiration, WECOSIGN™ will
have the right to propose one or more replacement TENANTS to the
OWNER/AGENT to enter into a new lease,
however;
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The
OWNER/AGENT will have the sole and absolute discretion to reject a proposed
replacement TENANT, for any reason or no reason. In the event of an anticipatory
TENANT’S Default where
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(1)
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A
TENANT seeks to surrender possession of an Apartment and be relieved of
the lease during the Term, and
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(2)
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The
OWNER/AGENT has refused such request; the OWNER/AGENT will immediately
notify WECOSIGN ™ or its
designee in writing of such TENANT’S request. In such a case, WECOSIGN™ will
have the right to elect to cause the OWNER/AGENT to relieve such TENANT
from the lease, which event will be considered a Covered Loss for the
purposes of this guarantee.
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(3)
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Application of
Security Deposit. Subject to applicable law, a Security Deposit will be
applied in theFollowing
order: first, to the payment of any actual physical damage to the
Apartment during the term of the RENTAL (excluding ordinary wear and
tear), second, to any unpaid Monthly Rent beginning with the first month
of unpaid Monthly Rent (such application of the Security Deposit shall be
considered a Loss Adjustment) and third, to any other unpaid or
unperformed obligations of the TENANT to the OWNER/AGENT in respect of the
RENTAL. In the event that the OWNER/AGENT does not require a Security
Deposit, the OWNER/AGENT shall at the inception of the RENTAL collect the
Monthly Rent for first and twelfth month of the RENTAL
term.
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B.
Reimbursement:
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(1)
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It
is the express intention and understanding of WECOSIGN™ and the
OWNER/AGENT that under no circumstances is the OWNER/AGENT entitled to
retain a Loss Payment that is in excess of the Monthly Rent, net of any
applicable Loss Adjustments that would have been due at the time of the
Loss Payment. The OWNER/AGENT agrees to actively and in good faith
cooperate with WECOSIGN™ to
ensure that Loss Payments are not made in an amount greater than the
amount of a single monthly rental payment. The OWNER/AGENT expressly
agrees and undertakes as an affirmative obligation to promptly remit to
WECOSIGN™
the amount of a Loss Payment in excess of the amount of a Loss in any
circumstance under which a Loss Payment has been made in excess of the
amount of a Loss.
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(2)
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In
the event WECOSIGN™
determines that an Initial Claim contains or contained a Material
Misstatement, Material Misrepresentation, Material Omission by
the rental agent /owner or was submitted
Fraudulently, then in Addition to any and all rights and remedies
permitted by law or otherwise set forth herein, WECOSIGN™ will
have the right to seek reimbursement from the OWNER/AGENT for any and all
amounts paid in respect of such Initial
Claim.
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Condition
Seven
A.
Submission of Initial
Default Claim:
| (1) | An Initial Claim may not be submitted to WECOSIGN™ before, and may only be submitted following, the occurrence of a Loss. | |
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(2)
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Failure
by the OWNER/AGENT to submit an Initial Claim within forty-five (45) days
after the occurrence of a Loss will relieve WECOSIGN
™ of any obligation or liability to pay any Loss arising in respect of
that Covered Loss.
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B.
Calculation and
Default Payment:
| (1) | Loss will be calculated as of the time of the Covered Loss, and shall be an Amount equal to the RENTAL Value, minus (a) the amount of Monthly Rent paid prior to a Covered Loss, minus (b) any Loss Adjustments that occurred prior to the Loss. | |
| (2) | Following a Loss and submission of an Initial Claim, Loss Payments will be made on a monthly basis until the expiration of the Guarantee Period for such Initial Claim. During the term of the Loss, within fifteen (15) days from the first day each payment of Monthly Rent is due, the OWNER/AGENT shall be required to submit a written Invoice, for each month for which coverage is provided following the Loss and submission of the Initial Claim. | |
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(3)
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The
amount of each monthly Loss Payment shall be equal to the total amount of
Monthly Rent (including arrears) that is unpaid as of the month such
Initial Claim is submitted had the Loss not occurred, reduced by the
amount of any applicable Loss Adjustments.
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The
aggregate amount of Loss Payments payable pursuant to this RENTAL PAYMENT
GUARANTEE with respect to a lease will in no event exceed an amount equal
to the lease Value, less
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(i)
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any
amounts received by the OWNER/AGENT in respect of or on account of the
Monthly Rent,
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(ii)
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any
Loss Adjustments.
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C. General
Claim
Requirements:
To make
an Initial Claim under the RENTAL PAYMENT GUARANTEE the OWNER/AGENT must provide
WECOSIGN™
with:
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A
properly completed Initial Claim on the form provided by WECOSIGN™
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A copy
of
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(i)
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the
judgment of possession or stipulation of settlement by the way of Judgment
obtained in respect to such
Default Loss,
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(ii)
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the
money judgment obtained in respect of such Default
Loss,
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(iii)
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documentation
evidencing the basis for and the manner in which the Security Deposit was
applied, and
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(iv)
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any
other documentary evidence reasonably satisfactory to WECOSIGN™
showing that a Covered Loss has
occurred.
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Each
subsequent Loss Payment with respect to such Covered Loss must be submitted by
Invoice to WECOSIGN™ on or no
later than fifteen days of the date the Monthly Rent would have come due had the
Covered Loss not occurred.
Condition
Eight:
Provided
a submitted Initial Claim fully complies with all claim requirements set forth
herein, and all conditions precedent with respect to such Initial Claim have
been met, any Loss Payment required to be made to the OWNER/AGENT will be
payable on or before the Claim Payment Date corresponding to such Initial
Claim.
Condition
Nine:
The
OWNER/AGENT will provide WECOSIGN™ with a copy
of any and all notices provided to a TENANT that relate to a possible or actual
TENANT’S Default. Such copies may be sent by first class mail, overnight mail,
fax, or if applicable, electronic mail, and will be sent to WECOSIGN™ concurrently
with any such notice. Whenever reasonably requested by WECOSIGN™, whether or
not a TENANT’S Default has occurred, the OWNER/AGENT will cooperate with WECOSIGN™ and furnish
all written information in the possession of the OWNER/AGENT or to which the
OWNER/AGENT has access with respect the lease, including, but not limited to,
all documents, files, computer data or other reasonable information requested by
WECOSIGN ™ upon
reasonable notice. In the event the OWNER/AGENT receives legal notice of a
complaint from a TENANT relating to a RENTAL (including but not limited to a
rent overcharge complaint), it shall promptly provide a copy of such notice to
WECOSIGN™.
Condition
Ten:
A. Subrogation:
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Whenever
WECOSIGN™
has made a Loss Payment under this RENTAL PAYMENT GUARANTEE, WECOSIGN™
will automatically have all rights of subrogation in regard to such Loss
Payment. The OWNER/AGENT will not act or omit to act to impair WECOSIGN’S
™ right of subrogation in
anyway.
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B. Assignment of
Judgment:
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In
the event that the owner obtains a money judgment against a TENANT as a
result of a TENANT’S Default,
then
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(i)
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provided
that WECOSIGN™
is in compliance with this RENTAL PAYMENT GUARANTEE (including but not
limited to making all Loss Payments required to be made
hereunder),
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(ii)
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upon
the payment of a Loss by WECOSIGN™
hereunder, such judgment will be deemed immediately and automatically
assigned to WECOSIGN™.
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Condition
Eleven:
Any
dispute or controversy arising out of or relating to this RENTAL PAYMENT
GUARANTEE, or any Default Loss issued hereunder, or any alleged breach,
interpretation or construction of either will be resolved through an action or
proceeding brought in the appropriate State Court located in the County of
Orange, more specifically Santa Ana, California. Each of the parties hereto
hereby expressly waives the right to a trial by jury in any such action or
proceeding. Any such action or proceeding in respect to a Claim under this
RENTAL PAYMENT GUARANTEE must be commenced within one (1) year after such Claim
is first made. This RENTAL PAYMENT GUARANTEE will be governed by the laws of the
State of California without regard to principles of conflicts of
laws.
Condition
Twelve:
RENTAL PAYMENT
GUARANTEE;
As a
condition to payment and a material obligation of WECOSIGN™ under this
RENTAL PAYMENT GUARANTEE, the OWNER/AGENT represents and covenants
that:
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(a)
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The
OWNER/AGENT has investigated each TENANT’S application for a RENTAL in the
same manner as it would for any other potential TENANT for a lease, and
has independently determined that said TENANT does not meet the
OWNER/AGENT qualifications for approval without taking other measures to
mitigate the risk of non-performance. The OWNER/AGENT hereby represents
and agrees that it will not discriminate against any TENANT on a
prohibited basis, including, but not limited to, race, gender, marital
status, religion, national origin, creed, age, family status, disability,
sexual orientation, lawful occupation, or immigration
status.
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(b)
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The
form of lease that each TENANT executes for an Apartment is substantially
the same form of lease executed by other TENANTS who were acceptable to
WECOSIGN™
without other measures to mitigate the risk of their
non-performance.
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(c)
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The
OWNER/AGENT will not use, share, sell or disburse any confidential
information it receives about a TENANT from or through the OWNER/AGENT for
any purpose other than providing to include, but will not be limited to,
any and all personally identifiable information about a TENANT that the
OWNER/AGENT receives from or through the OWNER/AGENT, and any and all data
or information regarding a TENANT’S application to participate in the this
RENTAL PAYMENT GUARANTEE.
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(d)
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The
OWNER/AGENT shall not cause or collude to cause a TENANT’S
Default.
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(e)
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The
OWNER/AGENT has the legal capacity and is authorized to enter into and
perform this RENTAL PAYMENT GUARANTEE. The individual executing this
RENTAL PAYMENT GUARANTEE on behalf of the OWNER/AGENT is fully authorized
to enter into this agreement.
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(f)
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RENTAL
PAYMENT GUARANTEE, when executed by WECOSIGN ™ on
behalf of the TENANT, and subject to the execution hereof by WECOSIGN™
officer/officers, will be a valid and binding obligation of WECOSIGN™ Inc,
enforceable against WECOSIGN™ Inc,
its permitted successors and assigns, in accordance with the terms
hereof.
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(g)
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Each
and every representation and covenant set forth herein shall remain true
and correct, and shall be in full force and effect, during the term of the
TENANTS RENTAL PAYMENT GUARANTEE.
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Condition
Thirteen:
Except as
otherwise specifically provided herein, all notices, reports, or other documents
required or permitted to be given by either party to the other will be in
writing and will be sent by prepaid postage to the recipient at the address
shown on the Face of this document or at such other address as the
respective parties may hereafter specify in writing. Notices will be effective
upon receipt by the party to whom the notice is addressed.
Condition
Fourteen:
This
RENTAL PAYMENT GUARANTEE issued hereunder, will constitute the entire agreement
between the OWNER/AGENT and WECOSIGN™ Inc. No
provision, require mentor condition of this RENTAL PAYMENT GUARANTEE and the
Covered Loss will be deemed to have been waived, altered, amended or otherwise
changed unless stated in a writing duly executed by WECOSIGN™
Inc.
Condition
Fifteen:
This
RENTAL PAYMENT GUARANTEE shall not be assignable by either party without the
express written consent of the other party; provided, however, that in
connection with the financing of the property in which the Apartment is located,
the OWNER/AGENT may assign this RENTAL PAYMENT GUARANTEE to the mortgagee
without the written consent of WECOSIGN™.
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Condition
Sixteen:
Upon the
written request of WECOSIGN™, the
OWNER/AGENT will deliver to WECOSIGN™ a release of
all liability with respect to any Covered Loss issued hereunder, in the form
reasonably required by WECOSIGN™:
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(i)
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a
condition precedent to the payment of a final Loss Payment under this
RENTAL PAYMENT GUARANTEE, or
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(ii)
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upon
the fulfilling all of its obligations under this RENTAL PAYMENT
GUARANTEE
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Condition
Seventeen:
The
payment provided by this RENTAL PAYMENT GUARANTEE is expressly limited to the
lease Value for each lease for which a RENTAL PAYMENT GUARANTEE is
issued.
In the
event that a lease is extended or renewed for an additional term, as provided in
Condition Two (B)hereof, coverage under this rental payment guarantee will
continue automatically (except that any default payments will only continue for
a 12 month period) under the RENTAL PAYMENT GUARANTEE for such renewed or
extended lease.
This
RENTAL PAYMENT GUARANTEE is issued with respect to the extension or renewal of
such RENTAL. WECOSIGN™ will not
provide any notice of non-renewal of the RENTAL PAYMENT GUARANTEE.
THIS BOOKLET IS NOT INTENDED
AS AN INSURANCE POLICY NOR DOES THIS PROGRAM PROVIDE COVERAGE OR PAYMENTS FOR
ANY INTENTIONAL OR UN-INTENTIONAL ACTS OF THE FOLLOWING
NATURE
|
(A)
|
Damage
to property and or bodily injury. Sickness, disability or
unemployment
|
|
(B)
|
Damages
to automobiles, spas ,pools, windows, doors, paint, or like
items
|
|
(C)
|
Damage
to property including interior walls, doors, as a result of any mutual
combat or intentional destruction, fire, theft of property, or acts of
God, terrorism or, robbery (armed or unarmed) OR THE INTENTIONAL TAKING,
OR THE LOSS OF ONES LIFE OR
SUICIDE.
|
|
(D)
|
This
rental payment guarantee is intended to benefit the owner and or landlord
and is wholly owned by WECOSIGN™ and is
specifically intended to act as an instrument of rental payment guarantee
for the loss of rents in the event of a default between a subscribing
tenant and landlord subject to the terms and conditions
herein.
|
| This document is protected under U.S. copyright law and is the sole property of WECOSIGN™ Inc AND MAY NOT BE REPRINTED in any part WITHOUT THE EXPRESS WRITTEN PERMISSION OF WECOSIGN™ Inc. | |
| All rights are SPECIFICALLY reserved. Copyright 2007 .WECOSIGN™ Inc. |
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WECOSIGN ™
www.wecosign.com
714-556-6800
©2008
All rights are specifically reserved
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