Common use of Dishonored Payments Clause in Contracts

Dishonored Payments. Residents shall owe $35.00 for each dishonored payment plus any applicable late fees described in this Agreement until all amounts owed are paid. Residents must resolve dishonored payments caused as a result of a financial institution with the financial institution. Owner is unable to waive the charge for dishonored payments or any late fees. In the event of a dishonored payment, Residents may, at Owner's option, be required to pay the rent and applicable late charges by certified check or money order. If one (1) or more payments submitted by Residents are, for any reason whatsoever, dishonored by the financial institution upon which it is drawn in any twelve (12) month period, Residents shall be required to pay all future rent and other charges by certified check or money order plus any and all costs required in the collection of said payments.