Common use of Security Deposit Return Clause in Contracts

Security Deposit Return. The Owner agrees that the Broker shall have sole reasonable discretion to apply Security Deposit funds (and Pet Deposit funds, if applicable) under the Lease and to refund Security Deposit funds (and Pet Deposit funds, if applicable) to the Tenant according to Alabama Law and according to the Broker’s understanding of how certain types of allowances are usually made for the Owner’s recovery of damages. The Owner agrees to be bound by any such decision of the Broker.