ROOM RESERVATION AND HOUSING AGREEMENT DURATION Sample Clauses

ROOM RESERVATION AND HOUSING AGREEMENT DURATION. A. Room Reservation. A $150 room reservation fee is to be submitted with any new Housing Agreement. When HFS receives the signed Housing Agreement and the $150 room reservation fee, a space is reserved. Current Residents, who are submitting a Housing Agreement for a new contract year, are excluded from this requirement. For current students, the $100 damage deposit, which was submitted as part of the student’s $150 room reservation fee for the current year, is retained by HFS and applied to the new contract year as the student’s damage deposit and all cancellation and refund terms listed hereafter remain in effect. Any damages assessed at checkout from the previous contract year will be billed to the student at their address of record and must be paid in full within 30 days of billing. Failure to meet this requirement may result in the cancellation of this Housing Agreement and results in the full forfeiture of the damage deposit or the full damage amount, whichever is greater. All Residents’ room, hall and roommate requests are subject to availability. Fifty dollars of the $150 is a non-refundable processing fee. The balance of the fee will be held as a damage deposit and refunded, less any damage, contract breakage and/or improper checkout charges, within 30 days of the contract termination date. If the Housing Agreement is cancelled prior to occupancy, the following cancellation terms apply: Housing Agreements cancelled within fifteen (15) calendar days of submittal and prior to taking occupancy. $100 refund of Room Reservation Fee Housing Agreements cancelled more than fifteen (15) calendar days of submittal and prior to taking occupancy. No Refund of Room Reservation Fee and $200 Penalty FOR ADDITIONAL INFORMATION ON THE CANCELLATION POLICY, SEE SECTION III, CONDITIONS FOR TERMINATION OF THE HOUSING AGREEMENT.