Common use of DAMAGE AND SECURITY DEPOSIT Clause in Contracts

DAMAGE AND SECURITY DEPOSIT. On execution of this Lease, Lessee shall deposit with the Lessor the sum of either: $350.00 for events without alcohol OR $750.00 for events serving alcohol Such sum shall be returned to Lessee within 5 business days after the end of the term of this Lease if Lessee faithfully performs the covenants and conditions of this Lease and returns said premises to Lessor in the same condition as when leased, normal wear and tear excepted. Said sum shall be retained by Xxxxxx as partial damages to Xxxxxx does not faithfully perform the covenants and conditions of this Lease or if Xxxxxx fails to return the premises in the same condition as when receiving them, normal wear and tear excepted. Within said 5 working days, Lessor shall give Lessee written notice of all damages to the premises or other claim for failure to leave the premises in the same condition as when receiving the premises. Said notice shall also provide Lessee of Lessor’s best estimate of the costs of repair or clean up. Such forfeiture shall not be construed as payment in full of any claims the Lessor may have against the Lessee as a result of Lessee not fulfilling the covenants and conditions of this Lease, but only as a partial payment of any damages, cleaning costs or rent payments due that the Lessor may be entitled to as a result of the Lessee not fulfilling the terms and conditions of this Lease or damage done to the property by the Lessee. The Lessor shall not be obligated to pay Lessee any interest on this deposit but only obligated to return the appropriate amount of the deposit then due the Lessee. A breach of any of the covenants contained herein by the Lessee shall, at the option of the Lessor, be determined a complete breach of this Lease. It is agreed between the parties that the Lessor is entitled to select from the Lessee all damages caused Xxxxxx as a result of the breach of any of the conditions of this Lease and that reasonable attorney's fees necessary to enforce Xxxxxx's rights, pursuant to this Lease, shall be determined to be a damage sustained by the Lessor. Lessee shall be obligated to Lessor in the sum of $50.00 as a cancellation fee if event cancellation notice is received by Lessor within seven (7) business days of the scheduled event.

DAMAGE AND SECURITY DEPOSIT. On execution of this Lease, Lessee shall deposit the sum of $750.00 with the Lessor the sum of either: $350.00 for events without alcohol OR $750.00 for events serving alcohol Such and such sum shall be returned to Lessee within 5 business days after the end of the term of this Lease if Lessee faithfully performs the covenants and conditions of this Lease and returns said premises to Lessor in the same condition as when leased, normal wear and tear excepted. Said sum shall be retained by Xxxxxx Lessor as partial damages to Xxxxxx Lessee does not faithfully perform the covenants and conditions of this Lease or if Xxxxxx Lessee fails to return the premises in the same condition as when receiving them, normal wear and tear excepted. Within said 5 working days, Lessor shall give Lessee written notice of all damages to the premises or other claim for failure to leave the premises in the same condition as when receiving the premises. Said notice shall also provide Lessee of Lessor’s best estimate of the costs of repair or clean up. Such forfeiture shall not be construed as payment in full of any claims the Lessor may have against the Lessee as a result of Lessee not fulfilling the covenants and conditions of this Lease, but only as a partial payment of any damages, cleaning costs or rent payments due that the Lessor may be entitled to as a result of the Lessee not fulfilling the terms and conditions of this Lease or damage done to the property by the Lessee. The Lessor shall not be obligated to pay Lessee any interest on this deposit but only obligated to return the appropriate amount of the deposit then due the Lessee. A breach of any of the covenants contained herein by the Lessee shall, at the option of the Lessor, be determined a complete breach of this Lease. It is agreed between the parties that the Lessor is entitled to select from the Lessee all damages caused Xxxxxx Lessor as a result of the breach of any of the conditions of this Lease and that reasonable attorney's fees necessary to enforce XxxxxxLessor's rights, pursuant to this Lease, shall be determined to be a damage sustained by the Lessor. Lessee shall be obligated to Lessor in the sum of $50.00 as a cancellation fee if event cancellation notice is received by Lessor within seven (7) business days of the scheduled event.

DAMAGE AND SECURITY DEPOSIT. On execution of this Lease, Lessee shall deposit with the Lessor the sum of either: $350.00 for events without alcohol OR $750.00 for events serving alcohol Such sum shall be returned to Lessee within 5 business days after the end of the term of this Lease if Lessee faithfully performs the covenants and conditions of this Lease and returns said premises to Lessor in the same condition as when leased, normal wear and tear excepted. Said sum shall be retained by Xxxxxx Lessor as partial damages to Xxxxxx Lessee does not faithfully perform the covenants and conditions of this Lease or if Xxxxxx Lessee fails to return the premises in the same condition as when receiving them, normal wear and tear excepted. Within said 5 working days, Lessor shall give Lessee written notice of all damages to the premises or other claim for failure to leave the premises in the same condition as when receiving the premises. Said notice shall also provide Lessee of Lessor’s best estimate of the costs of repair or clean up. Such forfeiture shall not be construed as payment in full of any claims the Lessor may have against the Lessee as a result of Lessee not fulfilling the covenants and conditions of this Lease, but only as a partial payment of any damages, cleaning costs or rent payments due that the Lessor may be entitled to as a result of the Lessee not fulfilling the terms and conditions of this Lease or damage done to the property by the Lessee. The Lessor shall not be obligated to pay Lessee any interest on this deposit but only obligated to return the appropriate amount of the deposit then due the Lessee. A breach of any of the covenants contained herein by the Lessee shall, at the option of the Lessor, be determined a complete breach of this Lease. It is agreed between the parties that the Lessor is entitled to select from the Lessee all damages caused Xxxxxx Lessor as a result of the breach of any of the conditions of this Lease and that reasonable attorney's fees necessary to enforce XxxxxxLessor's rights, pursuant to this Lease, shall be determined to be a damage sustained by the Lessor. Lessee shall be obligated to Lessor in the sum of $50.00 as a cancellation fee if event cancellation notice is received by Lessor within seven (7) business days of the scheduled event.