Common use of Tenant Security Deposit Clause in Contracts

Tenant Security Deposit. The Security Deposit shall be paid prior to Tenant’s occupancy of the Premises, and shall be administered in accordance with the North Carolina Tenant Security Deposit Act (N.C.G.S. § 42-50 et. seq.). IT MAY, IN THE DISCRETION OF EITHER THE LANDLORD OR THE AGENT, BE DEPOSITED IN AN INTEREST-BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, AND SHALL BE PAID TO, THE LANDLORD, OR AS THE LANDLORD DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY LANDLORD OR AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY THE TERMS OF THE ACCOUNT. Upon any termination of the tenancy herein created, the Landlord may deduct from the Tenant Security Deposit amounts permitted under the Tenant Security Deposit Act. If there is more than one person listed above as Tenant, Agent may, in Agent’s discretion, pay any balance of the Tenant Security Deposit to any such person, and the other person(s) agree to hold Agent harmless for such action. If the Tenant’s address is unknown to the Landlord, the Landlord may deduct any permitted amounts and shall then hold the balance of the Tenant Security Deposit for the Tenant’s collection. ❑ (Optional) If a portion of the Tenant Security Deposit, up to and including $100, is payable to the Tenant and remains unclaimed for one year following the termination of the tenancy herein, the Tenant directs that such unclaimed funds be paid to the following charitable organization: on the Tenant’s behalf. If the unclaimed funds payable to the Tenant exceed $100, then the Landlord shall hold the funds and escheat them to the State as required by law. During the one year waiting period herein, Landlord and/or Agent agree to use reasonable efforts to locate and inform Xxxxxx of the unclaimed deposit. Landlord and/or Agent should keep written documentation of such efforts. If the Landlord removes Agent or Agent resigns, the Tenant agrees that Agent may transfer any Tenant Security Deposit held by Agent hereunder to the Landlord or the Landlord’s designee and thereafter notify the Tenant by mail of such transfer and of the transferee’s name and address. The Tenant agrees that such action by Agent shall relieve Agent of further liability with respect to the Tenant Security Deposit. If Xxxxxxxx’s interest in the Premises terminates (whether by sale, assignment, death, appointment of receiver or otherwise), Agent shall transfer the Tenant Security Deposit in accordance with the provisions of North Carolina General Statutes § 42-54.

Tenant Security Deposit. On the Commencement Date Tenant shall deposit with Landlord in cash the sum of Seven Hundred Fourteen Thousand Six Hundred Fifteen and No/100 Dollars ($714,615.00), as a security deposit (the "Security Deposit"), for Tenant's faithful performance of all of Tenant's obligations under this Agreement. If Tenant fails to pay Rent or Additional Charges due hereunder, fails to fund Reserve Expenditures which exceed available funds in the Reserve, or otherwise defaults with respect to any provision of this Agreement, then in addition to and not exclusive of any other remedies available under this Agreement, Landlord may use, apply or retain all or any portion of the Security Deposit for the payment of any Rent, the funding of Additional Charges or Reserve Expenditures or other charges in default, or for the payment of any sum to which Landlord may become obligated by reason of Tenant's default. If Landlord so uses or applies all or any portion of the Security Deposit, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the full amount of the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its general accounts. If Tenant performs all of Tenant's obligations hereunder, at the expiration of the Term, and after Tenant has vacated the Leased Property, the Security Deposit, or so much thereof as has not been applied or used by Landlord as provided in this Agreement, shall be returned to Tenant, without payment of interest or other increment for its use. No trust relationship is created herein between Landlord and Tenant with respect to the Security Deposit. The Security Deposit shall be paid prior by Tenant to Tenant’s occupancy of Landlord upon the Premises, and shall be administered in accordance with the North Carolina Tenant Security Deposit Act (N.C.G.S. § 42-50 et. seqCommencement Date.). IT MAY, IN THE DISCRETION OF EITHER THE LANDLORD OR THE AGENT, BE DEPOSITED IN AN INTEREST-BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, AND SHALL BE PAID TO, THE LANDLORD, OR AS THE LANDLORD DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY LANDLORD OR AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY THE TERMS OF THE ACCOUNT. Upon any termination of the tenancy herein created, the Landlord may deduct from the Tenant Security Deposit amounts permitted under the Tenant Security Deposit Act. If there is more than one person listed above as Tenant, Agent may, in Agent’s discretion, pay any balance of the Tenant Security Deposit to any such person, and the other person(s) agree to hold Agent harmless for such action. If the Tenant’s address is unknown to the Landlord, the Landlord may deduct any permitted amounts and shall then hold the balance of the Tenant Security Deposit for the Tenant’s collection. ❑ (Optional) If a portion of the Tenant Security Deposit, up to and including $100, is payable to the Tenant and remains unclaimed for one year following the termination of the tenancy herein, the Tenant directs that such unclaimed funds be paid to the following charitable organization: on the Tenant’s behalf. If the unclaimed funds payable to the Tenant exceed $100, then the Landlord shall hold the funds and escheat them to the State as required by law. During the one year waiting period herein, Landlord and/or Agent agree to use reasonable efforts to locate and inform Xxxxxx of the unclaimed deposit. Landlord and/or Agent should keep written documentation of such efforts. If the Landlord removes Agent or Agent resigns, the Tenant agrees that Agent may transfer any Tenant Security Deposit held by Agent hereunder to the Landlord or the Landlord’s designee and thereafter notify the Tenant by mail of such transfer and of the transferee’s name and address. The Tenant agrees that such action by Agent shall relieve Agent of further liability with respect to the Tenant Security Deposit. If Xxxxxxxx’s interest in the Premises terminates (whether by sale, assignment, death, appointment of receiver or otherwise), Agent shall transfer the Tenant Security Deposit in accordance with the provisions of North Carolina General Statutes § 42-54.

Tenant Security Deposit. The Security Deposit shall be paid prior to Tenant’s occupancy of the Premises, and shall be administered in accordance with the North Carolina Tenant Security Deposit Act (N.C.G.S. § 42-50 et. seq.). IT MAY, IN THE DISCRETION OF EITHER THE LANDLORD OR THE AGENT, BE DEPOSITED IN AN INTEREST-BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, AND SHALL BE PAID TO, THE LANDLORD, OR AS THE LANDLORD DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY LANDLORD OR AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY THE TERMS OF THE ACCOUNT. SAMPLE Upon any termination of the tenancy herein created, the Landlord may deduct from the Tenant Security Deposit amounts permitted under the Tenant Security Deposit Act. If there is more than one person listed above as Tenant, Agent may, in Agent’s discretion, pay any balance of the Tenant Security Deposit to any such person, and the other person(s) agree to hold Agent harmless for such action. If the Tenant’s address is unknown to the Landlord, the Landlord may deduct any permitted amounts and shall then hold the balance of the Tenant Security Deposit for the Tenant’s collection. ❑ (Optional) If a portion of the Tenant Security Deposit, up to and including $100, is payable to the Tenant and remains unclaimed for one year following the termination of the tenancy herein, the Tenant directs that such unclaimed funds be paid to the following charitable organization: on the Tenant’s behalf. If the unclaimed funds payable to the Tenant exceed $100, then the Landlord shall hold the funds and escheat them to the State as required by law. During the one year waiting period herein, Landlord and/or Agent agree to use reasonable efforts to locate and inform Xxxxxx of the unclaimed deposit. Landlord and/or Agent should keep written documentation of such efforts. If the Landlord removes Agent or Agent resigns, the Tenant agrees that Agent may transfer any Tenant Security Deposit held by Agent hereunder to the Landlord or the Landlord’s designee and thereafter notify the Tenant by mail of such transfer and of the transferee’s name and address. The Tenant agrees that such action by Agent shall relieve Agent of further liability with respect to the Tenant Security Deposit. If Xxxxxxxx’s interest in the Premises terminates (whether by sale, assignment, death, appointment of receiver or otherwise), Agent shall transfer the Tenant Security Deposit in accordance with the provisions of North Carolina General Statutes § 42-54.

Tenant Security Deposit. The Security Deposit shall be paid prior to Tenant’s occupancy of the Premises, and shall be administered in accordance with the North Carolina Tenant Security Deposit Act (N.C.G.S. § 42-50 et. seq.). IT MAY, IN THE DISCRETION OF EITHER THE LANDLORD OR THE AGENT, BE DEPOSITED IN AN INTEREST-BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVEOF LANDLORDS CHOICE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, OF THE LANDLORD AND SHALL BE PAID TO, TO THE LANDLORD, OR AS THE LANDLORD DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY LANDLORD OR AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY THE TERMS OF THE ACCOUNT. Upon any termination of the tenancy herein created, the Landlord may deduct from the Tenant Security Deposit amounts permitted under sufficient to pay: (l) any damages sustained by the Landlord as a result of the Tenant's nonpayment of rent or nonfulfillment of the Initial Term or any renewal periods, including the Tenant's failure to enter into possession; (2) any damages to the Premises for which the Tenant Security Deposit Act. If there is more than one person listed above as responsible; (3) any unpaid bills which become a lien against the Premises due to the Tenant, Agent may, 's occupancy; (4) any costs of re-renting the Premises after a breach of this lease by the Tenant; (5) any court costs incurred by the Landlord in Agent’s discretion, pay connection with terminating the tenancy; and (6) any balance other damages of the Landlord which may then be a permitted use of the Tenant Security Deposit to any such person, and under the other person(s) agree to hold Agent harmless for such actionlaws of this State. If the Tenant’s address is unknown to the Landlord, the Landlord No fees may deduct any permitted amounts and shall then hold the balance of be deducted from the Tenant Security Deposit for the Tenant’s collection. ❑ (Optional) If a portion of the Tenant Security Deposit, up to and including $100, is payable to the Tenant and remains unclaimed for one year following until the termination of the tenancy hereintenancy. After having deducted the above amounts, the Tenant directs that such unclaimed funds be paid Landlord shall, if the Tenant's address is known to him, refund to the following charitable organization: on the Tenant’s behalf. If the unclaimed funds payable to the Tenant exceed $100, then the Landlord shall hold the funds and escheat them to the State as required by law. During the one year waiting period herein, Landlord and/or Agent agree to use reasonable efforts to locate and inform Xxxxxx of the unclaimed deposit. Landlord and/or Agent should keep written documentation of such efforts. If the Landlord removes Agent or Agent resigns, the Tenant agrees that Agent may transfer any Tenant Security Deposit held by Agent hereunder to the Landlord or the Landlord’s designee and thereafter notify the Tenant by mail of such transfer and of the transferee’s name and address. The Tenant agrees that such action by Agent shall relieve Agent of further liability with respect to the Tenant Security Deposit. If Xxxxxxxx’s interest in the Premises terminates (whether by sale, assignment, death, appointment of receiver or otherwise), Agent shall transfer the Tenant Security Deposit in accordance with the provisions of North Carolina General Statutes § 42-54.within thirty

Tenant Security Deposit. The Security Deposit shall be paid prior to Tenant’s occupancy of the Premises, and shall be administered in accordance with the North Carolina Tenant Security Deposit Act (N.C.G.S. § 42-50 et. seq.). IT MAY, IN THE DISCRETION OF EITHER THE LANDLORD OR THE AGENT, BE DEPOSITED IN AN INTEREST-BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, AND SHALL BE PAID TO, THE LANDLORD, OR AS THE LANDLORD DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY LANDLORD OR AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY THE TERMS OF THE ACCOUNT. Upon any termination of the tenancy herein created, the Landlord may deduct from the Tenant Security Deposit amounts permitted under the Tenant Security Deposit Act. If there is more than one person listed above as Tenant, Agent may, in Agent’s discretion, pay any balance of the Tenant Security Deposit to any such person, and the other person(s) agree to hold Agent harmless for such action. If the Tenant’s address is unknown to the Landlord, the Landlord may deduct any permitted amounts and shall then hold the balance of the Tenant Security Deposit for the Tenant’s collection. ❑ (Optional) If a portion of the Tenant Security Deposit, up to and including $100, is payable to the Tenant and remains unclaimed for one year following the termination of the tenancy herein, the Tenant directs that such unclaimed funds be paid to the following charitable organization: on the Tenant’s behalf. If the unclaimed funds payable to the Tenant exceed $100, then the Landlord shall hold the funds and escheat them to the State as required by law. During the one year waiting period herein, Landlord and/or Agent agree to use reasonable efforts to locate and inform Xxxxxx of the unclaimed deposit. Landlord and/or Agent should keep written documentation of such efforts. If the Landlord removes Agent or Agent resigns, the Tenant agrees that Agent may transfer any Tenant Security Deposit held by Agent hereunder to the Landlord or the Landlord’s designee and thereafter notify the Tenant by mail of such transfer and of the transferee’s name and address. The Tenant agrees that such action by Agent shall relieve Agent of further liability with respect to the Tenant Security Deposit. If Xxxxxxxx’s interest in the Premises terminates (whether by sale, assignment, death, appointment of receiver or otherwise), Agent shall transfer the Tenant Security Deposit in accordance with the provisions of North Carolina General Statutes § 42-54.

Tenant Security Deposit. The Security Deposit shall be paid prior to Tenant’s occupancy of the Premises, and shall be administered in accordance with the North Carolina Tenant Security Deposit Act (N.C.G.S. § 42-50 et. seq.). IT MAY, IN THE DISCRETION OF EITHER THE LANDLORD OR THE AGENT, BE DEPOSITED IN AN INTEREST-BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, AND SHALL BE PAID TO, THE LANDLORD, OR AS THE LANDLORD DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY LANDLORD OR AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY THE TERMS OF THE ACCOUNT. Upon any termination of the tenancy herein created, the Landlord may deduct from the Tenant Security Deposit amounts permitted under the Tenant Security Deposit Act. If there is more than one person listed above as Tenant, Agent may, in Agent’s discretion, pay any balance of the Tenant Security Deposit to any such person, and the other person(s) agree to hold Agent harmless for such action. If the Tenant’s address is unknown to the Landlord, the Landlord may deduct any permitted amounts and shall then hold the balance of the Tenant Security Deposit for the Tenant’s collection. ❑ (Optional) If collection for a portion of the Tenant Security Deposit, up to and including $100, is payable to the Tenant and remains unclaimed for one year following six-month period beginning upon the termination of the tenancy herein, the Tenant directs that such unclaimed funds be paid to the following charitable organization: on and delivery of possession by the Tenant’s behalf. If the unclaimed funds payable Tenant fails to make demand for the balance of the Tenant Security Deposit within the six-month period, the Landlord shall not thereafter be liable to the Tenant exceed $100, then the Landlord shall hold the funds and escheat them to the State as required by law. During the one year waiting period herein, Landlord and/or Agent agree to use reasonable efforts to locate and inform Xxxxxx for a refund of the unclaimed deposit. Landlord and/or Agent should keep written documentation of such effortsTenant Security Deposit or any part thereof. If the Landlord removes Agent or Agent resigns, the Tenant agrees that Agent may transfer any Tenant Security Deposit held by Agent hereunder to the Landlord or the Landlord’s designee and thereafter notify the Tenant by mail of such transfer and of the transferee’s name and address. The Tenant agrees that such action by Agent shall relieve Agent of further liability with respect to the Tenant Security Deposit. If Xxxxxxxx’s interest in the Premises terminates (whether by sale, assignment, death, appointment of receiver or otherwise), Agent shall transfer the Tenant Security Deposit in accordance with the provisions of North Carolina General Statutes § 42-54.

Tenant Security Deposit. The Security Deposit shall be paid prior to Tenant’s occupancy of the Premises, and shall be administered in accordance with the North Carolina Tenant Security Deposit Act (N.C.G.S. § 42-50 et. seq.). IT MAY, IN THE DISCRETION OF EITHER THE LANDLORD OR THE AGENT, BE DEPOSITED IN AN INTEREST-BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, AND SHALL BE PAID TO, THE LANDLORD, OR AS THE LANDLORD DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY LANDLORD OR AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY THE TERMS OF THE ACCOUNT. Upon any termination of the tenancy herein created, the Landlord may deduct from the Tenant Security Deposit amounts permitted under the Tenant Security Deposit Act. If there is more than one person listed above as Tenant, Agent may, in Agent’s 's discretion, pay any balance of the Tenant Security Deposit to any such person, and the other person(s) agree to hold Agent harmless for such action. If the Tenant’s 's address is unknown to the Landlord, the Landlord may deduct any permitted amounts and shall then hold the balance of the Tenant Security Deposit for the Tenant’s 's collection. ❑ (Optional) If a portion of the Tenant Security Deposit, up to and including $100, is payable to the Tenant and remains unclaimed for one year following the termination of the tenancy herein, the Tenant directs that such unclaimed funds be paid to the following charitable organization: on the Tenant’s behalf. If the unclaimed funds payable to the Tenant exceed $100, then the Landlord shall hold the funds and escheat them to the State as required by law. During the one year waiting period herein, Landlord and/or Agent agree to use reasonable efforts to locate and inform Xxxxxx of the unclaimed deposit. Landlord and/or Agent should keep written documentation of such efforts. If the Landlord removes Agent or Agent resigns, the Tenant agrees that Agent may transfer any Tenant Security Deposit held by Agent hereunder to the Landlord or the Landlord’s 's designee and thereafter notify the Tenant by mail of such transfer and of the transferee’s 's name and address. The Tenant agrees that such action by Agent shall relieve Agent of further liability with respect to the Tenant Security Deposit. If Xxxxxxxx’s 's interest in the Premises terminates (whether by sale, assignment, death, appointment of receiver or otherwise), Agent shall transfer the Tenant Security Deposit in accordance with the provisions of North Carolina General Statutes § Statutes§ 42-54.

Tenant Security Deposit. The Security Deposit shall be paid prior to Tenant’s occupancy of the Premises, and shall be administered in accordance with the North Carolina Tenant Security Deposit Act (N.C.G.S. § 42-50 et. seq.). IT MAY, IN THE DISCRETION OF EITHER THE LANDLORD OR THE AGENT, BE DEPOSITED IN AN INTEREST-BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, AND SHALL BE PAID TO, THE LANDLORD, OR AS THE LANDLORD DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY LANDLORD OR AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY THE TERMS OF THE ACCOUNT. SAMPLE Upon any termination of the tenancy herein created, the Landlord may deduct from the Tenant Security Deposit amounts permitted under the Tenant Security Deposit Act. If there is more than one person listed above as Tenant, Agent may, in Agent’s discretion, pay any balance of the Tenant Security Deposit to any such person, and the other person(s) agree to hold Agent harmless for such action. If the Tenant’s address is unknown to the Landlord, the Landlord may deduct any permitted amounts and shall then hold the balance of the Tenant Security Deposit for the Tenant’s collection. ❑ (Optional) If a portion of the Tenant Security Deposit, up to and including $100, is payable to the Tenant and remains unclaimed for one year following the termination of the tenancy herein, the Tenant directs that such unclaimed funds be paid to the following charitable organization: on the Tenant’s behalf. If the unclaimed funds payable to the Tenant exceed $100, then the Landlord shall hold the funds and escheat them to the State as required by law. During the one year waiting period herein, Landlord and/or Agent agree to use reasonable efforts to locate and inform Xxxxxx of the unclaimed deposit. Landlord and/or Agent should keep written documentation of such efforts. If the Landlord removes Agent or Agent resigns, the Tenant agrees that Agent may transfer any Tenant Security Deposit held by Agent hereunder to the Landlord or the Landlord’s designee and thereafter notify the Tenant by mail of such transfer and of the transferee’s name and address. The Tenant agrees that such action by Agent shall relieve Agent of further liability with respect to the Tenant Security Deposit. If XxxxxxxxLandlord’s interest in the Premises terminates (whether by sale, assignment, death, appointment of receiver or otherwise), Agent shall transfer the Tenant Security Deposit in accordance with the provisions of North Carolina General Statutes § 42-54.

Tenant Security Deposit. The Security Deposit shall be paid prior to Tenant’s occupancy of the Premises, and shall be administered in accordance with the North Carolina Tenant Security Deposit Act (N.C.G.S. § 42-50 et. seq.). IT MAY, IN THE DISCRETION OF EITHER THE LANDLORD OR THE AGENT, BE DEPOSITED IN AN INTEREST-BEARING ACCOUNT WITH THE BANK OR SAVINGS INSTITUTION NAMED ABOVE. ANY INTEREST EARNED UPON THE TENANT SECURITY DEPOSIT SHALL ACCRUE FOR THE BENEFIT OF, AND SHALL BE PAID TO, THE LANDLORD, OR AS THE LANDLORD DIRECTS. SUCH INTEREST, IF ANY, MAY BE WITHDRAWN BY LANDLORD OR AGENT FROM SUCH ACCOUNT AS IT ACCRUES AS OFTEN AS IS PERMITTED BY THE TERMS OF THE ACCOUNT. Upon any termination of the tenancy herein created, the Landlord may deduct from the Tenant Security Deposit amounts permitted under the Tenant Security Deposit Act. If there is more than one person listed above as Tenant, Agent may, in Agent’s 's discretion, pay any balance of the Tenant Security Deposit to any such person, and the other person(s) agree to hold Agent harmless for such action. If the Tenant’s 's address is unknown to the Landlord, the Landlord may deduct any permitted amounts and shall then hold the balance of the Tenant Security Deposit for the Tenant’s collection. ❑ (Optional) If 's collection for a portion of the Tenant Security Deposit, up to and including $100, is payable to the Tenant and remains unclaimed for one year following six-month period beginning upon the termination of the tenancy herein, the Tenant directs that such unclaimed funds be paid to the following charitable organization: on and delivery of possession by the Tenant’s behalf. If the unclaimed funds payable Tenant fails to make demand for the balance of the Tenant Security Deposit within the six-month period, the Landlord shall not thereafter be liable to the Tenant exceed $100, then the Landlord shall hold the funds and escheat them to the State as required by law. During the one year waiting period herein, Landlord and/or Agent agree to use reasonable efforts to locate and inform Xxxxxx for a refund of the unclaimed deposit. Landlord and/or Agent should keep written documentation of such effortsTenant Security Deposit or any part thereof. If the Landlord removes Agent or Agent resigns, the Tenant agrees that Agent may transfer any Tenant Security Deposit held by Agent hereunder to the Landlord or the Landlord’s 's designee and thereafter notify the Tenant by mail of such transfer and of the transferee’s 's name and address. The Tenant agrees that such action by Agent shall relieve Agent of further liability with respect to the Tenant Security Deposit. If Xxxxxxxx’s 's interest in the Premises terminates (whether by sale, assignment, death, appointment of receiver or otherwise), Agent shall transfer the Tenant Security Deposit in accordance with the provisions of North Carolina General Statutes § 424 2-54.