In the event the Tenant loses his job during the Lease period covered by the “Worry Free” Job Loss Lease Addendum, Landlord will waive 50% of Tenant’s rent (net of concessions) for up to 90 days.  All of the conditions listed below must be met for this Agreement to be approved.  Tenant’s 50% portion of the rent is due and payable on the first day of each month and is subject to the same terms of payment as stated in Paragraph 2 of the original Lease Agreement.  Proof of eligibility for unemployment insurance is required monthly with the reduced payment.  

All of the following conditions must be met:

• The terminated Tenant must be eligible to collect unemployment benefits and provide proof of such throughout the 90 day period.
  
  
• Tenant must be up to date, current, and in good standing with all lease terms to be eligible.
  
  
• Written verification of employment loss must be received by the Landlord from employer, as well as evidence of eligibility    for unemployment insurance from the New York State Department of Labor within ten (10) days of notification to Landlord.
  
  
• The 90 Day Period will begin the first of the month following written notification to the Landlord.
  
  
• With each month’s reduced 50% rental payment due on the first of the month, Tenant must provide verification from the New York State Department of Labor that they are still eligible and collecting unemployment insurance.
  
  
• The terminated Tenant must be the primary wage earner and the loss of income would cause the Tenant to no longer qualify for our income requirements to rent the apartment.  
  
  
• At the end of the 90 day period, Tenant must provide verification that they were eligible and collecting unemployment benefits from the NY State Dept. of Labor for the entire 90 day period.  If the Tenant became employed during the 90 day period, the amount of rent waived will be charged back on a prorated basis and due with the next rental payment.  The proration will be based on the actual number of days employed during that particular month.    
  
  
• At the end of the 90 day period, Tenant is required to follow all Lease Terms and pay the full rental amount for the remainder of the Lease Term when due.  If the resident does not fulfill the entire Lease Term and Lease Agreement, the rental amount waived must be paid back and will be considered liquidated damages.  
  
  
• This addendum may only be used once during the Lease Term.