Co-Signers are "Guarantors" This addendum is intended to clarify to all parties to this lease transaction exactly what is the meaning of a “Guarantor”, and what the guarantor’s rights and obligations are: The guarantor understands that he/she is not a passive participant to this lease. The guarantor is explicitly responsible to the lawful performance of the lease even though the “performance” of the lease shall be conducted by the actual tenants of the home, and the tenants are the primary leasees of record. This means specifically; 1) the guarantor shall be sought against for any and all relief and monetary damages that the property owner may seek in the event the tenant(s) default on their lease obligations; the tenants fail to pay rent due, or late fees or other fees in accordance with the lease. 2) the guarantor shall be as equally liable as the tenant(s) for any damages subjected to the premises, less “normal wear and tear”, that is standard in the residential rental industry. Accordingly, “I (the guarantor) didn’t cause that damage”, is not a sufficient defense to escape financial responsibility in the event the tenant(s) refuse to pay for property damages beyond normal wear and tear. 3) where efforts to remedy financial losses fail, SDL and/or the owner may report such delinquencies to the major credit repositories naming all parties to the lease as delinquent, including the guarantor.