DEPOSIT FORFEIT Sample Clauses

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DEPOSIT FORFEIT. DEPOSIT RETURN, SURRENDER, AND ABANDONMENT: We will mail you your security deposit refund (less lawful deductions) and an itemized accounting of any deductions no later than 30 days after surrender or abandonment. If the dwelling is rented by more than one person, we will pay the refund to any one person who has signed this Lease Contract and upon payment to any one person, who has signed this Lease Contract, we will have no further liability with respect to the deposit. The person to whom the deposit is refunded agrees to hold us harmless from the claims of the other occupants for all or any portion of the security deposit including any costs of liquidation or other related expenses, which we incur. We will mail your security deposit refund to your last known address. You have surrendered the apartment when the move-out date has passed and no one is living in the apartment in our reasonable judgment; or all apartment keys listed in paragraph 4.5 have been turned in to the management office. You have abandoned the apartment when all of the following have occurred: (1) everyone appears to have moved out in our reasonable judgment; (2) clothes, furniture, and personal belongings have been substantially removed in our reasonable judgment; (3) you have been in default for non-payment of rent for 10 consecutive days or any utility for the apartment not connected in our name has been disconnected or terminated; and (4) you have not responded for 2 days to our notice left on the inside of the apartment entry door, stating that we consider the apartment abandoned. Surrender or abandonment ends your right of possession for all purposes and gives us the immediate right to: clean up, make repairs in, re-let the apartment; determine any security deposit deductions; and remove property left in the apartment. Surrender, abandonment, and eviction affect your rights to property left in the apartment (paragraph 8.5), but do not affect our mitigation obligations (paragraph 3.8).
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DEPOSIT FORFEIT. If the Second Acquisition is not consummated by the Company, and the Deposit is forfeited, then within twelve (12) months from the date the Deposit is forfeited the Company shall, or shall cause ASC to, raise $11 million to be contributed as capital to the Company's Utah Subsidiaries for the development of the properties acquired in the Wolf Mountain Acquisition."
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