STATEMENT OF RENTAL POLICY FOR THE SOLOMON ORGANIZATION

Welcome to Waters Edge. Thank you for choosing our community. We require that each applicant and adult occupant meet certain rental criteria. Before you fill out our Rental Application, we suggest that you determine whether you meet our requirements. Please note that the term “Applicant” provided below applies to all Residents to be identified on the Lease Contract and the person or persons to be responsible for paying the rent. Please note that these represent our current rental criteria; nothing contained in these requirements shall constitute a guarantee or representation by Owner prior to these requirements going into effect. Additionally, our liability to verify whether these requirements have been met is limited to the information we receive from the various credit reporting services used..

APPLICATION SCREENING CRITERIA.

All applicants must have a Social Security Number and will be approved on the following basis:

1. Applicant or applicants must be a minimum of eighteen (18) years of age or older. All applicant(s) must be able to provide a copy of their Social Security card.

2. Occupancy Guidelines:

• Studio – Maximum of 2 Occupants
• One Bedroom – Maximum of 2 Occupants
• Two Bedroom – Maximum of 4 Occupants
• Three Bedroom – Maximum of 6 Occupants

3. A Non-refundable application fee of $35.00 per person, adults age 18 and older (money order/personal check only payable to Waters Edge Associates, LP) is required, with a $200.00 deposit which will be applied towards security for processing. If the application is approved, a deposit of one month’s security is due upon signing Lease Contract within seven (7) days after approval. These deposits are payable in a certified check or money order only. This will hold the apartment for up to thirty (30) days. Additionally, this deposit is non-refundable if applicant(s) does not take the apartment.

4. Employment Requirement: Employment will be verified. Verifiable income shall include income as confirmed by employer, trust officer, two (2) recent computerized pay stubs, or two (2) years tax returns, if self-employed..

5. Income Requirements: 45% of Gross Verifiable Income must cover the monthly rent plus any monthly fixed obligations. If the applicant(s) do not meet this guideline, Owner may look at other compensating factors (i.e. credit history, length of employment, or rental history) in the approval process.

6. Credit History: Your credit report must reflect a Scorex Rating of 170 or above. (If below 170, see Scorex Rating Chart.) In addition, all outstanding public records or judgments must be cleared. Credit must not reflect any bankruptcies in the past two (2) years. The Landlord reserves the right to deny your application if the above criteria is not met.

7. Verifiable Rental History: It is your responsibility to provide necessary information that allows us to contact your past Landlords. You must have a history of paying your rent on time, no prior convictions, no history of default in lease obligations, and have given proper notice and must not owe any money to your Landlord. If we are unable to verify your previous Landlords and/or references, we reserve the right to deny your application.

8. Criminal Convictions: The Solomon Organization is an avid supporter of Crime Free/Drug Free in Multi-housing. Applicant(s) with criminal convictions will be denied.

YOU WILL BE DENIED IF: You misrepresent any information on the application. In general, if misrepresentations are found after the rental agreement is signed, your rental agreement will be terminated.

RENTAL AGREEMENT If you are accepted, you will be required to sign a Lease Contract in which you will agree to abide by the policies of this rental property. A copy of this contract is available for your review. Please read the Lease Contract carefully, as we take each and every part seriously. It has been written to protect the rights of both our Residents and the Owners of the community.

FAIR HOUSING STATEMENT It is the policy of the Solomon Organization and this rental community to treat all Current and Prospective residents in a fair, professional manner, without regard to race, color, religion, sex, familial status, handicap or national origin.

“THIS IS AN EQUAL HOUSING OPPORTUNITY COMMUNITY”

I/WE HAVE READ AND UNDERSTAND THE RENTAL POLICIES OF THIS COMMUNITY.