Common use of SECURITY DEPOSIT DEDUCTIONS Clause in Contracts

SECURITY DEPOSIT DEDUCTIONS. Resident understands that the Security Deposit will be used for, but not limited to, damages to the Resident’s Bedroom and Common Areas of the Unit and cleaning and repairs beyond "normal wear and tear" to Resident's Bedroom and the Common Areas of the Unit caused by the Resident, Co-tenants, invitees and guests, unpaid utilities (if applicable), unpaid Rents, unpaid late charges, fees, re-rental expenses, and other fines for which Resident is liable. Resident understands that liability for such damages is not limited to the amount of the Security Deposit and that such liability can go beyond the amount of the Security Deposit. Resident agrees that the Security Deposit is not to be used in lieu of last month's Rent Installment, an advanced rent payment, or any other sum anytime during the Resident's tenancy. Liability under this Lease of each Resident of the Unit is joint and several, except as to liability for base Rent. Unless all Co-tenants of the Unit agree otherwise in writing, and said written agreement is sent to Landlord within three (3) days of the termination of this Lease, deductions from the four (4) or five (5) Co-tenants’ Security Deposits, for other than unpaid Rent, may be deducted from the four (4) or five (5) Security Deposits on a prorated basis. A summary of costs have been provided in the Resident Handbook Rules and Regulations; however these costs are merely estimates, and Resident(s) will be obligated to pay the actual market rate costs of repair and / or replacement, as applicable.

SECURITY DEPOSIT DEDUCTIONS. Resident understands that the Security Deposit will be used for, but not limited to, damages to the Resident’s Bedroom and Common Areas of the Unit and cleaning and repairs beyond "normal wear and tear" to Resident's Bedroom and the Common Areas of the Unit caused by the Resident, Co-tenants, invitees and guests, unpaid utilities (if applicable)and overages, unpaid Rentsrents, unpaid late charges, fees, re-rental expenses, and other fees or fines for which Resident is liable. Resident understands that liability for such damages is not limited to the amount of the Security Deposit and that such liability can go beyond the amount of the Security Deposit. Resident agrees that the Security Deposit is not to be used in lieu of last month's Rent Installment, an advanced rent payment, or any other sum anytime during the Resident's tenancy. Liability under this Lease of each Resident of the Unit is joint and several, except as to liability for base Rent. Unless all Co-tenants of the Unit agree otherwise in writing, and said written agreement is sent to Landlord within three (3) days of the termination of this Lease, deductions from the four (4) or five (5) Co-tenants’ Security Deposits, for other than unpaid Rent, may be deducted from the four (4) or five (5) Security Deposits on a prorated basis. A summary of costs have been provided in the Resident Handbook Rules and Regulations; however these costs are merely estimates, and Resident(s) will be obligated to pay the actual market rate costs of repair and / or replacement, as applicable.