Common use of Damage Deposit Policy Clause in Contracts

Damage Deposit Policy. The Damage Deposit may be used by the Lions for repair of any damages, including carpet stains, sustained during the Tenant’s rental period, or to return the building and premises to the pre-rental condition (see sections 6 through 9 below). Tenant agrees to be responsible to pay the Lions for any damages in which the cost of repair is more than the deposit. The amount withheld shall be solely determined by the Lions based upon the reasonable cost of repair or time rendered by the Lions or by independent repair and service providers. Otherwise, the Damage Deposit will be refunded in full after an inspection of Lions property has been made by a member of the Building Committee or other designated Lions member or agent, and it is determined that no extraordinary costs have been incurred and all rental payments have been made.

Damage Deposit Policy. The Damage Deposit may be used by the Lions for repair of any damages, including carpet stains, sustained during the Tenant’s rental period, or to return the building and premises to the pre-rental condition (see sections 6 through 9 below). Tenant Xxxxxx agrees to be responsible to pay the Lions for any damages in which the cost of repair is more than the deposit. The amount withheld shall be solely determined by the Lions based upon the reasonable cost of repair or time rendered by the Lions or by independent repair and service providers. Otherwise, the Damage Deposit will be refunded in full after an inspection of Lions property has been made by a member of the Building Committee or other designated Lions member or agent, and it is determined that no extraordinary costs have been incurred and all rental payments have been made.