Common use of Solvency statement Clause in Contracts

Solvency statement. Owner hereby states and affirms that all bills and money due on the premises are paid current or not in any state of delinquency. These bills or amounts include but are not limited to liability insurance, taxes, mortgage payments, utilities, assessments, liens, condominium and/or homeowner’s association fees, assessments, charges and/or any other charges relating to the premises including but not limited to any amount which may be due or owing to providers of goods or services for the rental property. Owner agrees that in the event any dispute arises between a Tenant and the Owner or agent as a result of Owner’s failure to make any payments relative to the premises, Owner agrees to completely indemnify and hold harmless Broker, Agent, and Property Managers, their employees, and assigns, hereinafter “Broker” for any and all damages or litigation which may arise out of Owner’s actions or inactions. Owner understands that a tenant has a right to peaceful quiet enjoyment of the premises and if Owner fails to keep all payments current, a tenant may have a right to withhold rent, break the lease agreement, or hold Owner or Agent liable for any damages they suffer as a result of Owner’s failure to keep all payments current. Owner gives Broker full authority to cease the management of the premises and hold Owner liable for any damages or amounts due under the management agreement if Owner misrepresents any information or fails to abide by this agreement and keep all payments current.

Solvency statement. Owner hereby states and affirms that all bills and money due on the premises are paid current or not in any state of delinquency. These bills or amounts include but are not limited to liability insurance, taxes, mortgage payments, utilities, assessments, liens, condominium and/or homeowner’s association fees, assessments, charges and/or any other charges relating to the premises including but not limited to any amount which may be due or owing to providers of goods or services for the rental property. Owner agrees that in the event any dispute arises between a Tenant and the Owner or agent as a result of Owner’s failure to make any payments relative to the premises, Owner agrees to completely indemnify and hold harmless Broker, AgentBrokers agents, and Property Managersproperty managers, their employees, and assigns, hereinafter “Broker” for any and all damages or litigation which may arise out of Owner’s actions or inactions. Owner understands that a tenant has a right to peaceful quiet enjoyment of the premises and if Owner fails to keep all payments current, a tenant may have a right to withhold rent, break the lease agreement, or hold Owner or Agent liable for any damages they suffer as a result of Owner’s failure to keep all payments current. Owner gives Broker full authority to cease the management of lease the premises and hold Owner liable for any damages or amounts due under the management this agreement if Owner misrepresents any information or fails to abide by this agreement and keep all payments current.