Common use of Security Deposit and Janitorial Fee Clause in Contracts

Security Deposit and Janitorial Fee. Member/Homeowner shall pay the Association the sum of One Hundred Dollars ($100.00) Security Deposit and One Hundred Dollars ($100.00) Janitorial Fee (separate checks), in addition to the Fee. This sum shall be paid at the time of execution of this Agreement. The Security Deposit will be held by the Association to secure Member/Homeowner’s full compliance with the terms of this Agreement. Within thirty (30) days from the date of the Rental Period, Association may apply the Security Deposit to the payment of any damages the Association has suffered due to Member/Homeowner’s failure to return the Premises in good condition or to comply fully with the terms of this Agreement. The amount of the Security Deposit is not the limit of the Member/Homeowner’s financial responsibility in the event of damages.