SPLIT PAY AGREEMENT 3

AGREEMENT FOR DELAYED OR PARTIAL RENT PAYMENTS

This Agreement for Delayed or Partial Rent Payments (hereinafter “Agreement”) is entered into this ___ day of _______________, 20___, by and between the Owner: The Driftwood Wildflower Barn, LLC, (hereinafter referred to as “Landlord”), and the Renter(s): __________________________. All Renter(s) (hereinafter referred to collectively as “Tenant”), are jointly, severally and individually bound by, and liable under, the terms and conditions of this Agreement.

For the valuable consideration described below, the sufficiency of which is hereby acknowledged, Landlord and Tenant do hereby covenant, contract and agree as follows:

I. In consideration of Landlord’s agreement not to terminate Tenant’s Event Space Rental Agreement on the basis of Tenant’s non-payment of rent, Tenant agrees to pay rent in delayed or partial amounts, in specific adherence to the following payment schedule:

  1. 33% of Event Space Rental Agreement to be paid at the time of contract with the second payment being paid within 30 days and the remaining balance to be paid within 8 weeks of first payment received.
  2. First payment made by bankcard will be automatically processed for the subsequent payments using the same bankcard information unless alternate bankcard information is provided.
  3. If the first payment is made by check, either a second and third check must be written and postdated for not more than 4 and 8 weeks from the date of first payment and be secured by the Landlord, or sufficient bankcard information provide to process the additional payments.
  4. Tenant agrees to a $25 fee per payment at the time of contract, for the convenience of being able to delay or partially pay.

II. Tenant agrees that Tenant’s failure to fully and specifically comply with the above listed conditions for delayed or partial rent payment will result in the breach of this Agreement, and Landlord will have the option to terminate Tenant’s Event Space Rental Agreement on the basis of non-payment of rent and retain all funds paid up to the point of termination.

OTHER THAN DISCUSSED HEREIN, THE TERMS AND CONDITIONS OF THE EVENT SPACE RENTAL AGREEMENT BETWEEN LANDLORD AND TENANT REMAIN IN FULL FORCE AND EFFECT.

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WITNESS THE SIGNATURES OF THE PARTIES:

Landlord, or authorized agent: _______________________________________________ Dated: ________

Tenant: ___________________________ Print name: ____________________________ Dated: ________