Rental Collection Charge. Tenant hereby acknowledges that late payment will cause Landlord to incur costs not contemplated by this Rental Agreement, the exact amount of which will be extremely difficult to ascertain. In the event rent is not received prior to 5:00 P.M. on the fifth (5th) of the month, regardless of cause including dishonored checks, Tenant further agrees to pay a late charge to Landlord equal to Fifty Dollars ($50.00). Neither ill health, loss of job, financial emergency, nor other excuse will be accepted for late payment.
Rental Collection Charge. The Tenant(s) hereby acknowledge(s) that late payment will cause the Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. In the event Rent is not received prior to 5:00PM on the fifth day of the month, a late charge of 5% after the fifth day of the month, and an additional 5% after the tenth day of each month, is payable by the Tenant(s) at the time the Rent is paid. The late charge applies to the entire outstanding balance. A $45.00 charge for checks returned by the bank for any reason, shall be charged to Tenant(s) by Landlord in addition to any late fees or court costs. If Tenant(s) pay(s) Rent late more than two (2) times during the Term, it shall be considered a default of this Lease. Landlord may choose to accrue the aforementioned charges and assess them at any time during the Term or at the end of the Term.
