Common use of Security/Damage Deposit Clause in Contracts

Security/Damage Deposit. (a) Tenant agrees to pay Landlord the sum of $ deposit as security against the breach by Tenant of any Tenant’s covenants and agreements contained herein. The Deposit will be held by Landlord as security against breach by Tenant of any provision of this Lease. Tenant understands that all or a portion of the Deposit may be retained by Landlord upon termination of this Lease or Tenant’s tenancy unless each of the following conditions is satisfied: (1) The full Term expired without default by Tenant, should Tenant sale contract a $50 fee will be incurred. (2) Tenant gave Landlord written notice of Tenant’s intention to vacate the Apartment at least 30 days before Tenant vacated the Apartment and Tenant did not retain possession of the Apartment after the expiration of the 30 day period following delivery of such notice to Landlord. (3) Any and all Monthly Rent, late charges, insufficient check charges, utilities charges, attorney’s fees and other charges due under this Lease are paid in full, (4) There shall be a nor-refundable charge of $ per semester to cover the cost of preparing the Apartment for future tenants. (5) There was no damage beyond ordinary wear and tear to the Apartment, common areas and buildings surrounding or adjacent to the Apartment, (xxxxx, spots or stains on floors, carpets, countertops, window coverings, etc shall not be considered ordinary wear and tear) (6) The Apartment, including kitchen appliances and furniture, have been cleaned thoroughly in accordance with Landlord’s written instructions. (7) All debris, rubbish and discards were placed into proper disposal containers. (8) Tenant provided Landlord with s Self Addressed, Stamped Envelope. (9) All keys were returned to Landlord. If Tenant fails to check out per written instructions by Landlord, Tenant is agreeing to forfeit Tenant’s full Deposit to Landlord. (b) Move-Out Inspection. Tenant shall meet with Land or Landlord’s representative for a move-out inspection. Landlord’s representative has no authority to bind or limit Landlord regarding deductions for repairs, damages, or charges. Any statements or estimates by Landlord or Landlord’s representative are subject to correction, modification or disapproval before final refunding or accounting of Deposit. (c) If all of the conditions described above are not satisfied, then any Monthly Rent or other charges due under this Lease, together with the cost of labor and material for cleaning and repairs (as well the cost of eviction if such occurred) will be deducted from Deposit. (d) Tenant shall leave forwarding address with Landlord’s property manager. Within 60 days after Tenant’s vacancy (which will be the date on which Tenant gives Landlord the Apartment keys or the date on which Tenant surrenders and Landlord accepts the Apartment, whichever occurs last), Landlord will refund Deposit to Tenant, less any charges against the Deposit as described previously. If less than the full Deposit is so refunded, Landlord will send Tenant a full written statement listing the charges or reasons for retention of all or part of the Deposit (e) Any such written statement and/or refund check or statement of balance due shall be mailed in the SASE described above. If Landlord’s damages resulting from Tenant’s failure to comply with the provisions of this Lease exceed the amount of the Deposit, Landlord will not be limited to the amount of the Deposit, but may use all legal remedies available for collection of the actual amount of damages. Tenant understands and agrees that the Deposit may not be used as part of payment or to offset any month’s Monthly Rent due from Tenant. Refund cannot be picked up from Landlord.

Security/Damage Deposit. (a) Upon execution of this lease, Tenant agrees to pay will deposit with Landlord the sum of $ deposit specified as “Security/Damage Deposit” in Article 1 hereof as security against for the breach full and faithful performance of every provision of this lease to be performed by Tenant of any Tenant’s covenants and agreements contained hereinXxxxxx. The Deposit will Said deposit shall be held by Landlord as security against breach by without obligation or liability for payment of income from or interest on said deposit. If Tenant defaults with respect to any provisions of this lease, including but not limited to the provisions relating to the payment of any rent or other charges, Landlord may use, apply or retain all or any part of said deposit for the payment of any rent or other charge in default, or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of said deposit is so used or applied, Tenant shall, within five (5) days after written demand therefore, deposit cash with Landlord in an amount sufficient to restore said deposit to the full amount hereinabove stated, and Tenant's failure to do so shall be a material C2000092 breach of this lease. If Tenant shall fully and faithfully perform every provision of this Lease. lease to be performed by it, said deposit or so much thereof as has not theretofore been applied by Landlord, shall be returned to Tenant understands that all or a portion of (or, at Landlord's option, to the Deposit may be retained by Landlord upon termination of this Lease or Tenant’s tenancy unless each of the following conditions is satisfied: (1) The full Term expired without default by Tenant, should Tenant sale contract a $50 fee will be incurred. (2) Tenant gave Landlord written notice last assignee of Tenant’s intention to vacate the Apartment 's interest hereunder) at least 30 days before Tenant vacated the Apartment and Tenant did not retain possession of the Apartment after the expiration of the 30 day period following delivery term hereof. The making by Tenant of such notice deposit, or the application thereof by Landlord in the manner hereinabove provided, shall not constitute nor be construed as a limitation upon the exercise by Landlord of any other rights or remedies provided to Landlord. (3) Any and all Monthly RentLandlord under the terms of this lease in the event of Tenant's default. In the event Landlord sells the Retail Office Center, late charges, insufficient check charges, utilities charges, attorney’s fees and other charges due under this Lease are paid in full, (4) There shall be a nor-refundable charge of $ per semester to cover the cost of preparing the Apartment for future tenants. (5) There was no damage beyond ordinary wear and tear then Landlord may assign said deposit to the Apartment, common areas and buildings surrounding or adjacent to purchaser of Landlord's interest in the Apartment, (xxxxx, spots or stains on floors, carpets, countertops, window coverings, etc shall not be considered ordinary wear and tear) (6) The Apartment, including kitchen appliances and furniture, have been cleaned thoroughly in accordance with Landlord’s written instructions. (7) All debris, rubbish and discards were placed into proper disposal containers. (8) Tenant provided Landlord with s Self Addressed, Stamped Envelope. (9) All keys were returned to Landlord. If Tenant fails to check out per written instructions by Landlord, Tenant is agreeing to forfeit Tenant’s full Deposit to Landlord. (b) Move-Out Inspection. Tenant shall meet with Land or Landlord’s representative for a move-out inspection. Landlord’s representative has no authority to bind or limit Landlord regarding deductions for repairs, damages, or charges. Any statements or estimates by Landlord or Landlord’s representative are subject to correction, modification or disapproval before final refunding or accounting of Deposit. (c) If all of the conditions described above are not satisfied, then any Monthly Rent or other charges due under this Lease, together with the cost of labor and material for cleaning and repairs (as well the cost of eviction if such occurred) will be deducted from Deposit. (d) Tenant shall leave forwarding address with Landlord’s property manager. Within 60 days after Tenant’s vacancy (which will be the date on which Tenant gives Landlord the Apartment keys or the date on which Tenant surrenders and Landlord accepts the Apartment, whichever occurs last), Landlord will refund Deposit demised premises without liability to Tenant, less any charges against the Deposit as described previously. If less than the full Deposit is so refunded, and upon such assignment Landlord will send Tenant a full written statement listing the charges or reasons for retention of all or part of the Deposit (e) Any such written statement and/or refund check or statement of balance due shall be mailed in the SASE described above. If Landlord’s damages resulting discharged from Tenant’s failure further liability with respect to comply with the provisions of this Lease exceed the amount of the Deposit, Landlord will not be limited to the amount of the Deposit, but may use all legal remedies available for collection of the actual amount of damages. Tenant understands and agrees that the Deposit may not be used as part of payment or to offset any month’s Monthly Rent due from Tenant. Refund cannot be picked up from Landlordsuch deposit.

Security/Damage Deposit. (a) Upon the due execution of this Agreement, Tenant agrees to pay shall deposit with Landlord the sum of $ deposit ____________________________ DOLLARS ($__,____.00), receipt of which is hereby acknowledged by Landlord, as security against for any damage caused to the breach by Tenant Premises during the term hereof. Such deposit shall be returned to Tenant, without interest, and less any set off for damages to the Premises upon the termination of any Tenant’s covenants and agreements contained hereinthis Agreement. The Deposit will This deposit which is non-interest bearing, is to be held by Landlord as security against breach by Tenant for the full and faithful performance of any provision all of the terms and conditions of this Leaselease and any renewals of this lease. The security deposit is not an advance rental and Tenant understands that all or a may not deduct any portion of the Deposit may be retained by Landlord upon termination of this Lease or Tenant’s tenancy unless each of deposit from the following conditions is satisfied: (1) The full Term expired without default by Tenant, should Tenant sale contract a $50 fee will be incurred. (2) Tenant gave Landlord written notice of Tenant’s intention to vacate the Apartment at least 30 days before Tenant vacated the Apartment and Tenant did not retain possession of the Apartment after the expiration of the 30 day period following delivery of such notice to Landlord. (3) Any and all Monthly Rent, late charges, insufficient check charges, utilities charges, attorney’s fees and other charges rent due under this Lease are paid in full, (4) There shall be a nor-refundable charge of $ per semester to cover the cost of preparing the Apartment for future tenants. (5) There was no damage beyond ordinary wear and tear to the Apartment, common areas and buildings surrounding or adjacent to the Apartment, (xxxxx, spots or stains on floors, carpets, countertops, window coverings, etc shall not be considered ordinary wear and tear) (6) The Apartment, including kitchen appliances and furniture, have been cleaned thoroughly in accordance with Landlord’s written instructions. (7) All debris, rubbish and discards were placed into proper disposal containers. (8) Tenant provided Landlord with s Self Addressed, Stamped Envelope. (9) All keys were returned to Landlord. If Tenant fails to check out per written instructions by Landlord, Tenant is agreeing to forfeit Tenant’s full Deposit to Landlord. (b) Move-Out Inspection. Tenant shall meet with Land or Landlord’s representative for a move-out inspection. Landlord’s representative has no authority to bind or limit Landlord regarding deductions for repairs, damages, or charges. Any statements or estimates by Landlord or Landlord’s representative are subject to correction, modification or disapproval before final refunding or accounting In the event of Deposit. (c) If all forfeiture of the conditions described above are not satisfied, then any Monthly Rent or other charges security deposit due under this Lease, together with the cost of labor and material for cleaning and repairs (as well the cost of eviction if such occurred) will be deducted from Deposit. (d) Tenant shall leave forwarding address with Landlord’s property manager. Within 60 days after Tenant’s vacancy (which will be the date on which Tenant gives Landlord the Apartment keys or the date on which Tenant surrenders and Landlord accepts the Apartment, whichever occurs last), Landlord will refund Deposit to Tenant, less any charges against the Deposit as described previously. If less than the full Deposit is so refunded, Landlord will send Tenant a full written statement listing the charges or reasons for retention of all or part of the Deposit (e) Any such written statement and/or refund check or statement of balance due shall be mailed in the SASE described above. If Landlord’s damages resulting from Tenant’s failure to comply with fully and faithfully perform all of the provisions terms and conditions of the lease, Landlord retains all of his other rights and remedies. Tenant does not have the right to cancel this Lease lease and avoid his obligations hereunder by forfeiting the said security deposit. In the event any damage to the leased premises or equipment therein, reasonable wear and tear accepted, caused by Tenant, his family, guest(s) or agents, Tenant agrees to pay Landlord, when billed, the full amount necessary to repair or replace the damaged premises or equipment. Deductions may be made from the security deposit to reimburse Landlord for the cost of repairing any damages to the premises or equipment, or the cost of replacing any of the articles or equipment that may be damaged beyond repair, lost or missing at the termination of the lease. Deductions may also be made to cover any unpaid amounts owed to Landlord for any such damages or loss occurring prior to termination of the lease and for which Tenant has been billed. In the event that such damages or cleaning charges exceed the amount of the Depositsecurity deposit, Landlord will not Tenant agrees to pay all excess costs of Landlord. In the event there has been a forfeiture of the security deposit, charges for damages and cleaning shall be limited paid in addition to the amount of the Depositsaid security deposit. Deductions will also be made to cover any unpaid rental amounts and late fees. Notwithstanding any other provisions expressed or implied herein, but may use all legal remedies available for collection it is especially understood and agreed that the entire security deposit aforesaid shall be automatically forfeited should Tenant vacate or abandon the premises before the expiration of this lease, except where such abandonment occurs during the last month of the actual amount term of damages. the lease, Tenant understands has paid all rent covering the entire term, and agrees either party has given the other timely written notice that the Deposit may this lease will not be used as part of payment or to offset any month’s Monthly Rent due from Tenant. Refund cannot be picked up from Landlord.renewed under its automatic renewal

Security/Damage Deposit. (a) Tenant Xxxxxx agrees to pay Landlord the sum of $ deposit as security against the breach by Tenant of any Tenant’s covenants and agreements contained herein. The Deposit will be held by Landlord as security against breach by Tenant of any provision of this Lease. Tenant understands that all or a portion of the Deposit may be retained by Landlord upon termination of this Lease or TenantXxxxxx’s tenancy unless each of the following conditions is satisfied: (1) The full Term expired without default by TenantXxxxxx, should Tenant sale contract a $50 fee will be incurred. (2) Tenant gave Landlord written notice of TenantXxxxxx’s intention to vacate the Apartment at least 30 days before Tenant vacated the Apartment and Tenant Xxxxxx did not retain possession of the Apartment after the expiration of the 30 day period following delivery of such notice to Landlord. (3) Any and all Monthly Rent, late charges, insufficient check charges, utilities charges, attorney’s fees and other charges due under this Lease are paid in full, (4) There shall be a nor-refundable charge of $ per semester to cover the cost of preparing the Apartment for future tenants. (5) There was no damage beyond ordinary wear and tear to the Apartment, common areas and buildings surrounding or adjacent to the Apartment, (xxxxx, spots or stains on floors, carpets, countertops, window coverings, etc shall not be considered ordinary wear and tear) (6) The Apartment, including kitchen appliances and furniture, have been cleaned thoroughly in accordance with LandlordXxxxxxxx’s written instructions. (7) All debris, rubbish and discards were placed into proper disposal containers. (8) Tenant provided Landlord with s Self Addressed, Stamped Envelope. (9) All keys were returned to Landlord. If Tenant fails to check out per written instructions by Landlord, Tenant Xxxxxx is agreeing to forfeit TenantXxxxxx’s full Deposit to Landlord. (b) Move-Out Inspection. Tenant shall meet with Land or LandlordXxxxxxxx’s representative for a move-out inspection. LandlordXxxxxxxx’s representative has no authority to bind or limit Landlord regarding deductions for repairs, damages, or charges. Any statements or estimates by Landlord or Landlord’s representative are subject to correction, modification or disapproval before final refunding or accounting of Deposit. (c) If all of the conditions described above are not satisfied, then any Monthly Rent or other charges due under this Lease, together with the cost of labor and material for cleaning and repairs (as well the cost of eviction if such occurred) will be deducted from Deposit. (d) Tenant shall leave forwarding address with LandlordXxxxxxxx’s property manager. Within 60 days after TenantXxxxxx’s vacancy (which will be the date on which Tenant gives Landlord the Apartment keys or the date on which Tenant surrenders and Landlord accepts the Apartment, whichever occurs last), Landlord will refund Deposit to Tenant, less any charges against the Deposit as described previously. If less than the full Deposit is so refunded, Landlord will send Tenant a full written statement listing the charges or reasons for retention of all or part of the Deposit (e) Any such written statement and/or refund check or statement of balance due shall be mailed in the SASE described above. If LandlordXxxxxxxx’s damages resulting from TenantXxxxxx’s failure to comply with the provisions of this Lease exceed the amount of the Deposit, Landlord will not be limited to the amount of the Deposit, but may use all legal remedies available for collection of the actual amount of damages. Tenant Xxxxxx understands and agrees that the Deposit may not be used as part of payment or to offset any month’s Monthly Rent due from Tenant. Refund cannot be picked up from Landlord.

Security/Damage Deposit. Article IV of the Lease (a) Tenant agrees Security/Damage Deposit is hereby amended by adding the following paragraph to pay the end of said Article IV: "If Landlord receives notice from the sum issuer of $ deposit as security against the breach letter of credit provided by Tenant at the commencement of the Lease, or any Tenant’s covenants and agreements contained herein. The Deposit will be held by Landlord as security against breach substitute letter of credit provided by Tenant thereafter in accordance with this Article IV (hereinafter collectively referred to as the "Letter of any provision Credit"), that the Letter of this Lease. Tenant understands that all or Credit is not being renewed, then Landlord shall send a portion of the Deposit may be retained by Landlord upon termination of this Lease or Tenant’s tenancy unless each of the following conditions is satisfied: (1) The full Term expired without default by Tenant, should Tenant sale contract a $50 fee will be incurred. (2) Tenant gave Landlord written notice of Tenant’s intention to vacate the Apartment at least 30 days before Tenant vacated the Apartment and Tenant did not retain possession of the Apartment after the expiration of the 30 day period following delivery copy of such notice to Landlord. (3) Any the Tenant, and all Monthly Rent, late charges, insufficient check charges, utilities charges, attorney’s fees and other charges due under this Lease are paid in full, (4) There Tenant shall be obligated, within ten (10) days thereafter, to obtain a nor-refundable charge substitute Letter of $ per semester to cover the cost of preparing the Apartment for future tenants. (5) There was no damage beyond ordinary wear and tear Credit, issued by a financial institution reasonably acceptable to the Apartment, common areas Landlord and buildings surrounding or adjacent in a form comparable to the ApartmentLetter of Credit which is not being renewed; provided, however, notwithstanding any other time table contained in this paragraph, the substitute Letter of Credit must be received by the Landlord no later than thirty (xxxxx30) days prior to the expiration date of the then current Letter of Credit. If the substitute Letter of Credit is not received by the thirtieth (30th) day prior to the then applicable expiration date of the current Letter of Credit, spots then the Landlord shall have the right to draw upon the Letter of Credit for the full amount of the Letter of Credit. All such amounts drawn shall be held in non-interest bearing account and may be co-mingled with other security deposits or stains on floors, carpets, countertops, window coverings, etc shall not be considered ordinary wear and tear) (6) The Apartment, including kitchen appliances and furniture, have been cleaned thoroughly in accordance with Landlord’s written instructions. (7) All debris, rubbish and discards were placed into proper disposal containers. (8) Tenant provided Landlord with s Self Addressed, Stamped Envelope. (9) All keys were returned to funds of Landlord. If Such amounts shall be used by the Landlord solely for the purposes set forth in the first paragraph of this Article IV. The original Letter of Credit provided by the Tenant fails to check out per written instructions as required by Landlord, Tenant is agreeing to forfeit Tenant’s full Deposit to Landlord. (b) Move-Out Inspectionthe Lease contains an expiration date of four years from the date of its issuance. Tenant shall meet be required to provide Landlord with Land or Landlord’s representative an amendment of such Letter of Credit which renews same for a move-out inspection. Landlord’s representative has term ending no authority to bind or limit Landlord regarding deductions for repairs, damagesearlier then, or chargesa substitute Letter of Credit, issued by a financial institution reasonably acceptable to Landlord and in a form comparable to the original Letter of Credit with an expiration date no earlier than, sixty (60) days after the Expiration Date of the Lease, by no later than the thirtieth (30th) day prior to the expiration date of the original Letter of Credit. Any statements It Tenant does not provide such amendment or estimates by new Letter of Credit on or before the thirtieth (30th) day prior to the expiration date of the original Letter of Credit, Landlord or Landlord’s representative are shall be entitled to draw upon the current Letter of Credit in the full amount of the Letter of Credit and shall deposit the proceeds of the draw into a non-interest bearing account, as set forth in this Article, subject to correction, modification or disapproval before final refunding or accounting the terms and conditions of Deposit. (c) If all this Article. Such amounts shall be used by the Landlord solely for the purposes set forth in the first paragraph of this Article IV. In the event that the Landlord has drawn upon the Letter of Credit pursuant to either of the conditions described above are not satisfied, then any Monthly Rent or other charges due under this Lease, together with the cost of labor and material for cleaning and repairs two (as well the cost of eviction if such occurred2) will be deducted from Deposit. (d) Tenant shall leave forwarding address with Landlord’s property manager. Within 60 days after Tenant’s vacancy (which will be the date on which Tenant gives Landlord the Apartment keys or the date on which Tenant surrenders and Landlord accepts the Apartment, whichever occurs last)preceding paragraphs, Landlord will refund Deposit shall return the proceeds thereof to Tenant, less any charges against the Deposit as described previously. If less than the full Deposit is so refunded, Landlord will send Tenant upon Landlord's receipt of a full written statement listing the charges or reasons for retention new Letter of all or part of the Deposit (e) Any such written statement and/or refund check or statement of balance due shall be mailed in the SASE described above. If Landlord’s damages resulting from Tenant’s failure to comply Credit which complies with the provisions of this Lease exceed Article IV. Regardless of whether or not Landlord has drawn upon the Letter of Credit, Landlord agrees that the Letter of Credit shall be reduced, or that a portion of the monies drawn by Landlord under the Letter of Credit, shall be released to Tenant upon Tenant's written request provided that Tenant is not then in default under any provision of the Lease, such that the amount of the DepositLetter of Credit or the proceeds drawn thereunder, as the last may be, being held by the Landlord will not be limited after such reduction or release is equal to the amount following amounts at the times indicated: (i) $150,000.00 at the end of the Deposit, but may use all legal remedies available for collection fourth (4th) lease year; (ii) $100,000.00 at the end of the actual amount fifth (5th) lease year; and (iii) $50,000.00 at the end of damages. Tenant understands and agrees that the Deposit may not be used as part of payment or to offset any month’s Monthly Rent due from Tenant. Refund cannot be picked up from Landlordsixth (6th) lease year."