North Dakota Guaranty by Individual — Complex is a legal term used in the realm of real estate law. It refers to a specific type of guarantee provided by an individual to ensure repayment or performance of obligations related to a complex development project in the state of North Dakota. This guarantee holds the individual personally liable for any default or failure in meeting the project's financial or contractual obligations. The North Dakota Guaranty by Individual — Complex is primarily employed in situations where multiple parties are involved in financing and developing a complex real estate project, such as a large-scale commercial or residential development. It serves as an additional layer of protection for lenders, investors, or other stakeholders involved in such projects. By providing a personal guarantee, the individual assumes personal responsibility for the repayment of loans, compliance with contract terms, or any other financial obligations associated with the development. This ensures that in case of any default or failure, the guarantor's personal assets can be pursued to compensate for any losses incurred. There may be variations or different types of North Dakota Guaranty by Individual — Complex, which can include: 1. Full Recourse Guaranty: This involves the guarantor assuming unlimited liability and responsibility for all project-related obligations, irrespective of the circumstances. In case of default, the lender or other stakeholders can directly pursue the personal assets of the guarantor. 2. Limited Liability Guaranty: In this type of guarantee, the extent of liability is limited to a specified amount or a particular set of obligations. The guarantor's personal assets are at risk only to the extent specified in the agreement. 3. Joint and Several guaranties: This refers to a situation where multiple individuals provide a guaranty collectively and individually, making each guarantor liable for the full extent of the obligations. In case of default, the lenders or stakeholders can choose to pursue any individual guarantor or a combination of guarantors to recover their losses. Ultimately, North Dakota Guaranty by Individual — Complex is a legal arrangement that provides an added layer of financial security for lenders, investors, and stakeholders involved in complex real estate projects. It ensures that the personal assets of the guarantor can be utilized to compensate for any losses in case of a default or failure to meet contractual obligations.
North Dakota Guaranty by Individual - Complex
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The security deposit and an itemized list of deductions must be returned to you within 30 days of moving out. The landlord can deduct for damages to the property or unpaid rent but not for normal wear and tear.
(2) If the party is within this state and cannot be found, but the party's address is known or can with reasonable diligence be ascertained, the summons may be served upon the party by sending a copy by any form of mail or third-party commercial delivery addressed to the party and requiring a signed receipt and ...
The landlord must keep the premises compliant with building and housing codes relating to health and safety; make or arrange for repairs as agreed upon in the Lease, or that are necessary to keep premises in a fit and habitable condition; keep common areas in a safe condition; maintain in good working order electrical, ...
The terms ?security deposit? and ?damage deposit? mean the same thing under North Dakota law. The tenant can be required to pay a security deposit of up to one month's rent + an additional if the tenant has a pet, not to exceed the greater of $2,500 or two months' rent.
In North Dakota, you cannot withhold rent for any reason. If a landlord fails to make repairs, the tenant does have the right to repair and deduct. This is where the tenant will pay for repairs and deduct that cost from their next rent payment.
A landlord must, within 45 days after getting possession of the rental unit from the tenant for any reason, return any portion of the security deposit owed to the tenant and an itemized written list of damages that reduced the amount of the deposit returned to the tenant.
An affidavit, declaration of service, or certificate of service gives the court proof of service.
Rent and Fees Late Fees: There is no statutory limit on late fees in North Dakota. Grace Period: There is no mandatory grace period in North Dakota. NSF/Bounced Check Fee Maximum: If the tenant's rent check bounces, the landlord may charge any collection fees or costs less than or equal to $40 (NDC § 6-08-16).