Personal Guaranties The following section appears in an LLC operating agreement.

Personal Guaranties
The following section appears in an LLC operating agreement. Need help interpreting liability.

The Members (MBR) acknowledge that certain of the Mbrs or their affiliates, parents, or family mbrs, may be called upon to personally guarantee obligations of the Company. The Mbrs may be called upon to personally guarantee loans from banks and other credit facilities for the Company. Notwithstanding that such personal guarantees to third party creditors may provide for joint and several liability of the persons executing the same, it is agreed as between the Mbrs, that each Mbr shall be responsible for his proportionate share of any Company liabilities which may be guaranteed by other Mbrs, or by himself, up to the amount of such liability or liabilities multiplied by his Percentage Equity Interest, as set forth in Schedule “A” attached hereto. To the extent a Mbr pays more than his Percentage Equity Interest as applied to such guaranteed liability, he shall have a right to indemnification from the other Mbrs for their respective shares of such guaranteed liability. This indemnification right shall include any attorneys’ fees and costs incurred by a Mbr in enforcing this indemnification agreement as against any other Mbr or Mbrs.

contracts When we bought these 8 townhouses, most were under a signed contract…

contracts
When we bought these 8 townhouses, most were under a signed contract with the previous owner. I was told that this would carry over to the new owner. The lease was for one year and then a month to month rental. Do these first contracts have any legal standings or should I have re-issued new contracts. Is there a law that carpet has to be replaced every 5 years?
And is there a limit or maximun of the rent can be increased. Thank you

Can lanlord keep security deposit Can are lanlord keep are security deposit,…

Can lanlord keep security deposit
Can are lanlord keep are security deposit, when we did not give a full 30 day notice. but we had fulfilled our lease agreement of 1 year, and rented for 2 years after the lease was up and never renewed. It states in the lease it goes to an automatic month to month basis. It does not state in the lease anywhere we have to give a 30 day notice. we gave notice on the 11 of november and were out the 30th of november.