APPLICATION DEPOSIT. All money paid upon signing of this Lease will be deemed an Application Deposit until the commencement date of the Lease. Upon the commencement date of the Lease, money paid as a Refundable Deposit will be held and credited as Resident’s security deposit. Failure to take possession of the apartment unit will result in Landlord exercising all rights and remedies available to Landlord under Virginia law, including the disposition of said Application/Security Deposit in accordance with Virginia Code § 55.1-1203 & 55.1-1226, as amended.
Appears in 12 contracts
Samples: Lease Agreement, Lease Agreement, Lease Agreement
