Common use of Additional Late Charge Clause in Contracts

Additional Late Charge. (Check one) ☐ If any amount due under this Agreement remains unpaid for more than __________ days after it is due, then in addition to the Late Charge, such unpaid amounts shall bear interest at the rate of __________% per month, not to exceed the maximum amount allowed by law. ☐ Landlord will NOT require an additional late charge. Returned Payment Fee (Check one) ☐ In the event Landlord receives a payment from Tenant which is returned for insufficient funds, Landlord may, without limiting Landlord’s other remedies, charge Tenant a fee in the amount of __________ to cover Landlord’s overhead and administrative expenses and/or require that all payments thereafter be bank certified or cashier’s checks. ☐ Landlord will NOT charge a fee for returned payments.