Common use of S ecurity Deposit Clause in Contracts

S ecurity Deposit. If the Guest opts out of the Property Damage Protection coverage in Section 3, then simultaneously with Guest signing this Agreement, or prior to check-in, Guest shall deliver to Agent the Security Deposit in the amount of $3,000.00 in the form of a personal check, cashier’s check or wire transfer. Agent shall not be obligated to pay interest on any portion of the Security Deposit. Agent shall hold the Security Deposit for the full and timely performance by Guest of Guest’s obligations under this Agreement, including, without limitation, payment of any Rent, telephone or television charges, repairs to the Property before or after departure, and any other charges payable by Guest under this Agreement. The Security Deposit shall be returned to Guest within thirty (30) business days after departure, less any deduction(s), together with an invoice of all deductions.