ex10-6.htm


    
      
        

        

      

      Exhibit
10.6

       

       

      RENTAL
PAYMENT GUARANTEE

      WECOSIGNTM


    

    A
Payment Guide for Owners and Agents

     

    RENTAL Payment Guarantee
Booklet

    


    In
consideration of the fee paid by the TENANT, WECOSIGNTM,  (WECOSIGNTM 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 WECOSIGNTM 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:

    


    
      	
              (a)

            	
              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

            


    

    


    
      	
               
      

            	
              (i)

            	
              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.

            


    

    


    
      	
               
      

            	
              (ii)

            	
              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.

            


    

    


    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 WECOSIGNTM has received
notice in writing of the transfer of interest. If WECOSIGNTM has not received
notice in writing of
such transfer, WECOSIGN’STM sole
obligation hereunder will be to the OWNER/AGENT identified under such LEASE as
of the date of the  LEASE.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    


    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

    


    
      	
              (a)  

            	
              is
      for a term of one year or more an optional extension of time by mutual
      agreement,

            


    

    


    
      	
              (b)  

            	
              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

            


    

    


    
      	
              (c)  

            	
              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.

            


    

    


    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:

    


    
      	
              (i)  

            	
              the
      payment of use and occupancy during the pendency of an Eviction
      Proceeding;

            


    

    


    
      	
              (ii)  

            	
              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.

            


    

    


    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 WECOSIGNTM providing
coverage in accordance with this RENTAL PAYMENT GUARANTEE.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    


    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 WECOSIGNTM 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 WECOSIGNTM. Any such
termination will be effective as of the date it is received, and will completely
relieve WECOSIGN TM 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 WECOSIGNTM: WECOSIGNTM will not have
the right to terminate this guarantee issued hereunder except as stated herein.
Notwithstanding any other provisions in this guarantee, WECOSIGN TM will have
the right in its sole discretion to terminate this RENTAL PAYMENT GUARANTEE
issued hereunder, immediately and without notice, if:

    
      


      
        	
                (a)

              	
                Without
      the prior written consent of WECOSIGNTM,
      if the OWNER/AGENT permits or agrees
to

              


      

       

    

    
      	
              (i)  

            	
              a
      material change or modification to a
lease,

            


    

    


    
      	
              (ii)  

            	
              assignment
      of a lease (except as expressly permitted pursuant to Condition Sixteen
      hereof), or

            


    

    


    
      	
              (iii)  

            	
              subletting
      of an Apartment; or

            


    

    


    
      	
              (b)

            	
              The
      OWNER/AGENT has submitted a fraudulent Claim to WECOSIGNTM under
      its RENTAL PAYMENT GUARANTEE, or has otherwise breached a material
      obligation of the RENTAL PAYMENT
GUARANTEE

            


    

    


    Condition
Four:

    


    Exclusions
from RENTAL PAYMENT GUARANTEE.WECOSIGNTM 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:

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    


    
      	
              (a)

            	
              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.

            


    

    


    
      	
              (b)

            	
              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.

            


    

    


    
      	
              (c)

            	
              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

            


    

    
      


      
        	
                (d)

              	
                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.

              


      

       

    

    
      	
              (e)

            	
              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.

            


    

     

    
      
        	
                (F)

              	
                
                  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.

                

              


      

       

    

    Defense
of Claims: WECOSIGNTM 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;

     

    
      
        	
                 

              	
                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

              


      

       

    

    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

    
      


      
        
          	
                  (i)
        

                	
                  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

                
	 	 
	
                  (ii)  
      

                	
                  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.

                


        

         

      

    

    
      	
              (a)   
        

            	
              The
      OWNER/AGENT will promptly furnish WECOSIGN TM 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 WECOSIGNTM

            


    

    


    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    
      	
              (b)  
        

            	
              WECOSIGNTM
      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.

            


    

    


    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 WECOSIGNTM pursuant to
this Condition Five will give the WECOSIGNTM 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:

     

    
      
        
          	
                   

                	
                  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.

                


        

         

      

    

    C.
Right of
Inspection:

    


    
      	
               
      

            	
              (a)

            	
              Upon
      reasonable notice to the OWNER/AGENT, WECOSIGNTM will
      have the right to inspect the Apartment following a Loss under the RENTAL
      PAYMENT GUARANTEE;

            


    

    


    
      	
               
      

            	
              (b)

            	
              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 WECOSIGNTM of such
      intent in writing, and allow WECOSIGNTM to
      inspect such damage before the repair of such damage is commenced. WECOSIGNTM 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.

            


    

    


    The
failure of the OWNER/AGENT to comply with this condition precedent will give
WECOSIGNTM, 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

    


    
      	
               
      

            	
              (1)

            	
              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.

            


    

    


    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    
      	
               
      

            	
              (2)

            	
              WECOSIGNTM
      Right to Perform. In the event that a TENANT vacates an Apartment prior to
      the applicable lease Expiration, WECOSIGNTM will
      have the right to propose one or more replacement TENANTS to the
      OWNER/AGENT to enter into a new lease,
however;

            


    

    


    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

    


    
      	
               
      

            	
              (1)

            	
              A
      TENANT seeks to surrender possession of an Apartment and be relieved of
      the lease during the Term, and

            


    

    


    
      	
               
      

            	
              (2)

            	
              The
      OWNER/AGENT has refused such request; the OWNER/AGENT will immediately
      notify WECOSIGN TM or its
      designee in writing of such TENANT’S request. In such a case, WECOSIGNTM 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.

            


    

     

    
      
        	
                 
      

              	
                (3)

              	
                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.

              


      

       

    

    B.
Reimbursement:

    


    
      	
               
      

            	
              (1)

            	
              It
      is the express intention and understanding of WECOSIGNTM 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 WECOSIGNTM 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
      WECOSIGNTM
      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.

            


    

    


    
      	
               
      

            	
              (2)

            	
              In
      the event WECOSIGNTM
      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, WECOSIGNTM will
      have the right to seek reimbursement from the OWNER/AGENT for any and all
      amounts paid in respect of such Initial
Claim.

            


    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    Condition
Seven

    


    A.
Submission of Initial
Default Claim:

     

    
      
        	 	(1) 	An
      Initial Claim may not be submitted to WECOSIGNTM
      before, and may only be submitted following, the occurrence of a
      Loss.
	 	 	 
	
                 
      

              	
                (2)

              	
                Failure
      by the OWNER/AGENT to submit an Initial Claim within forty-five (45) days
      after the occurrence of a Loss will relieve WECOSIGN
      TM of any obligation or liability to pay any Loss arising in respect of
      that Covered Loss.

              


      

    

    


    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.
	 	 	 
	
                 
      

              	
                (3)

              	
                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.

              
	 	 	 
	 	(4)	
                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

              


      

    

     

    
      
      

    

    
      
        	
                (i)  

              	
                
                  any
      amounts received by the OWNER/AGENT in respect of or on account of the
      Monthly Rent,

                

              
	 	 
	 	and


      

       

      
        	
                (ii)  

              	
                
                  any
      Loss Adjustments.

                

              


      

    

     

    C. General
Claim
Requirements:

     

    To make
an Initial Claim under the RENTAL PAYMENT GUARANTEE the OWNER/AGENT must provide
WECOSIGNTM
with:

     

    
      
        
          	 	(1) 	
                  A
      properly completed Initial Claim on the form provided by WECOSIGNTM
      ;

                
	 	 	 
	 	 	and
	 	 	 
	
                   
      

                	
                   

                	
                  
                    A copy
      of

                  

                


        

         

      

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

       

    

    
      	
              (i)  

            	
              the
      judgment of possession or stipulation of settlement by the way of Judgment
      obtained in respect to such
  Default  Loss,

            


    

     

    
      	
              (ii)  

            	
              the
      money judgment obtained in respect of such Default
  Loss,

            


    

     

    
      	
              (iii)  

            	
              documentation
      evidencing the basis for and the manner in which the Security Deposit was
      applied, and

            


    

     

    
      	
              (iv)  

            	
              any
      other documentary evidence reasonably satisfactory to WECOSIGNTM
      showing that a Covered Loss has
occurred.

            


    

    


    Each
subsequent Loss Payment with respect to such Covered Loss must be submitted by
Invoice to WECOSIGNTM 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 WECOSIGNTM 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 WECOSIGNTM concurrently
with any such notice. Whenever reasonably requested by WECOSIGNTM, whether or
not a TENANT’S Default has occurred, the OWNER/AGENT will cooperate with WECOSIGNTM 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 TM 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
WECOSIGNTM.

    


    Condition
Ten:

     

    A. Subrogation:

     

    
      
        
          
            	
                     

                  	
                    Whenever
      WECOSIGNTM
      has made a Loss Payment under this RENTAL PAYMENT GUARANTEE, WECOSIGNTM
      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
      TM right of subrogation in
      anyway.

                  


          

           

        

      

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    B. Assignment of
Judgment:

    
       

      
        
          
            
              	
                       

                    	
                      In
      the event that the owner obtains a money judgment against a TENANT as a
      result of a TENANT’S Default,
      then

                    


            

             

          

        

      

    

    
      	
              (i)  

            	
              provided
      that WECOSIGNTM
      is in compliance with this RENTAL PAYMENT GUARANTEE (including but not
      limited to making all Loss Payments required to be made
      hereunder),

            
	 	 
	 	and


    

     

    
      	
              (ii)  

            	
              upon
      the payment of a Loss by WECOSIGNTM
      hereunder, such judgment will be deemed immediately and automatically
      assigned to WECOSIGNTM.

            


    

     

    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 WECOSIGNTM under this
RENTAL PAYMENT GUARANTEE, the OWNER/AGENT represents and covenants
that:

    


    
      	
               
      

            	
              (a)

            	
              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.

            


    

    


    
      	
               
      

            	
              (b)

            	
              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
      WECOSIGNTM
      without other measures to mitigate the risk of their
      non-performance.

            


    

     

    
      
        
        

      

      
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              (c)

            	
              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.

            


    

    
      


      
        	
                 
      

              	
                (d)

              	
                The
      OWNER/AGENT shall not cause or collude to cause a TENANT’S
      Default.

              


      

       

    

    
      	
               
      

            	
              (e)

            	
              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.

            


    

    


    
      	
               
      

            	
              (f)

            	
              RENTAL
      PAYMENT GUARANTEE, when executed by WECOSIGN TM on
      behalf of the TENANT, and subject to the execution hereof by WECOSIGNTM
      officer/officers, will be a valid and binding obligation of WECOSIGNTM Inc,
      enforceable against WECOSIGNTM Inc,
      its permitted successors and assigns, in accordance with the terms
      hereof.

            


    

    


    
      	
               
      

            	
              (g)

            	
              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.

            


    

    


    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 WECOSIGNTM 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 WECOSIGNTM
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 WECOSIGNTM.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

       

    

    Condition
Sixteen:

    


    Upon the
written request of WECOSIGNTM, the
OWNER/AGENT will deliver to WECOSIGNTM a release of
all liability with respect to any Covered Loss issued hereunder, in the form
reasonably required by WECOSIGNTM:

    


    
      	
              (i)  

            	
              a
      condition precedent to the payment of a final Loss Payment under this
      RENTAL PAYMENT GUARANTEE, or

            


    

    


    
      	
              (ii)  

            	
              upon
      the fulfilling all of its obligations under this RENTAL PAYMENT
      GUARANTEE

            


    

    


    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. WECOSIGNTM 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 WECOSIGNTM 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
      WECOSIGNTM
      Inc AND MAY NOT BE REPRINTED in any part WITHOUT THE EXPRESS WRITTEN
      PERMISSION OF  WECOSIGNTM
      Inc.
	 	 
	 	All
      rights are SPECIFICALLY reserved.  Copyright 2007 .WECOSIGNTM
      Inc.


    

     

    
      
        
        

      

      
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    WECOSIGN TM

     

    www.wecosign.com

     

    714-556-6800

     

    ©2008
All rights are specifically reserved

     

     

    


     

    


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