MULTIPLE RESIDENTS. When more than one RESIDENT signs this LEASE AGREEMENT, any deduction(s) to be made from the security deposit will be joint and several. MANAGEMENT is not liable for any understanding which may exist between two or more RESIDENTS as to the portion of the security deposit that one RESIDENT may be entitled to as opposed to another RESIDENT. MANAGEMENT will draw one (1) check, payable to all RESIDENTS jointly, and forward same to the forwarding address provided to MANAGEMENT by written notice as required herein. If one or more RESIDENT(s) under this LEASE signs a renewal extending the lease term, the security deposit on hand will stay in the rental account not to be refunded. If the vacating RESIDENT(s) are due any security deposit refund, by agreement and consent of all the parties with full knowledge and understanding by them thereto, any such refund is to be collected from the remaining and/or incoming RESIDENT(s).
Appears in 18 contracts
Samples: Rental Agreement, Rental Agreement, Lease
